Hello, and welcome to Real Estate Reality Radio. The most important half hour of radio every Friday from 9 to 9:30 on WBCB 1490 am. Thank you for joining us. For those of you who are new to the show I have spent the last 40 years in the real estate industry both as a realtor and a mortgage banker. The show is dedicated to dispelling the myths associated with Real Estate and finance in your marketplace.
Within every market there are obstacles and solutions on the path to tremendous opportunities. I believe that most people are looking for practical advice. Please feel free to call 215-740-8999 or visit peterbuchsbaum.com.
Please join us live on the web at www.wbcb1490.com or on your FREE app Tune In Radio from 9:00am to 10:00 am every Friday.
Last week WBCB aired an old show because I was unable to brave the weather. .
This week’s news was mostly about the record low temperatures. The bigger news to me is the “January barometer.” Historically as January’s stock market goes so does the year. Something like 85% of the time. But as the first 5 days of trading goes so historically does the month go. Something like 76% of the time. That being said the first 5 days was not great on Wall Street. There were several interesting Real Estate articles worth discussing. One discussed selling your home without a realtor. I found the article pretty self serving for companies like owners.com. The article discusses the potential savings but left out the hard part. How to price the home? I believe that a seller selling on their own runs the risk of pricing the home either too high or too low. It is an interesting choice and I provide significant aid for those who are looking to try.The other article was about two things that will cost more in 2014. Buying a home and Renting a home. According to Corelogic the values in the upcoming year will not move as significantly as they did in 2013 but even a 5% increase will cause some sticker shock. Add to that a mere 1% rise in rates will cause an additional $60 per month increase in a mortgage payment for each $100,000 borrowed. Renters are not exempt either. The expectation is that rents will rise 3.1%.
Today we are here to discuss reverse mortgages and why choosing your loan officer carefully means so much. I am fortunate enough to be joined by a voice you should recognize Gaetano Martini.
Please join us live at www.wbcb1490.com for the open discussion about the opportunities that are available to many may not know they are there. You cannot get the answer to a question you have never asked. We are here to help answer the questions.
Each week we discuss the myths of the mortgage market. It is not about rate. A higher rate with no mortgage insurance may provide a lower payment.