3 Big Things: Helping more first time homebuyers, our new youth outreach program and what’s going on with rents nationally.

Bruce Woodburn with CrossCountry Mortgage, The Loan Arranger, WDBO radio, and it’s time for the three big things you need to know. All right, let’s get right down to business because we’ve got a lot to cover. Pay close attention because I’ve got some things that can impact each and every one of you, whether you’re a home owner or a renter. So let’s talk about it.
  1. First big thing you need to know: You know that I’ve had a major commitment this year to help the most first time homebuyers that I’ve ever helped in my career. My goal is 50 new first time homebuyers per month, that’s 600 per year. That’s a hefty goal considering that we are in the toughest market for a first time homebuyer to get in that I can remember in many, many years. So that is a challenge. So I need each and every one of you to help me find people that are renting right now, that really need to get out of renting and I’m gonna tell you how important it is and why we need to act now. So if you know somebody or if you have adult Children or adult grandchildren that need your help, now is the time to step in and help them. So that’s the first thing big thing you need to know.
  2. Second big thing: I am having an outreach class for youth ages 15-35. You know, I don’t find that anybody teaches any young folks how to balance a checkbook, open a checking account. How do I establish credit? How do I maintain credit? How do I build good credit? How do I save money properly? How much money do I need to save? What does it take to be able to buy your first home? Why is it important to own a home rather than renting? Nobody talks about that anymore. To be honest with you, I find that renting perpetuates poverty and homeownership perpetuates wealth. You don’t get rich by renting a home. Now granted I own properties and I rent them out and they really do help me. So if you want to become a landlord now is also a good time to invest in rental properties.
  3. Which brings me into the third big thing you need to know: It’s Super important. Okay, so the national news came out and it was quite fascinating that nationally rents went up by 19.8%, call it 20%, last year nationally and it they found that Miami and west Palm beach now are right there in rents behind San Jose, San Diego, Los Angeles and San Francisco. How do you like that? Average rent is $2895 per month. Now here’s what’s really interesting about that, there’s a shortage of rental properties and there’s a shortage of properties to buy. So guess what landlords want to do? They all are going to raise their rents so they want people to move out so they can increase their rents. They are expecting that rents in Central Florida will go up by 20.6% this year. Now here’s the thing two cities in Florida, Tampa and Orlando, saw January’s fastest annual rent growth in history. Orlando buying was 27.1% less than renting, and in Tampa buying was 25.5% less than renting. Guys, it doesn’t to to rent. Rent is an adjustable rate. Homeownership is fixed rate. There’s no such thing as a rich renter. Let me help your friends and family get out of the renting cycle and into homeownership. It creates and perpetuates generational wealth.

Those are the three big things you need to know. Thank you for tuning in. Have a great weekend and God bless each and every one of you have a great day.

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