Hey, it’s Bruce Woodburn and it’s time for three big things you need to know. Please tune in to my shows on Saturdays, on WDBO 107.3FM or AM 580 or on Sundays same channel. I’d love to have you join me. I’m always looking for talent to interview. If you have something to bring to the table, give me a call. Maybe it’s time for an interview on my radio show. I’d love to help you out and I appreciate all the loyalty that you’ve had for me as well.

1. First big thing , I’m hiring! I’m hiring loan officers, loan partners, processors and some marketing admin. So if you know somebody, I’m looking for extreme talent and only extreme talent. Like blow my customers away talent. That’s what I’m looking for. If you fall into that category or you know somebody that does, I prefer bilingual because I got a big need to help the Spanish speaking market, but I always to have hire for talent first. That’s the first big thing you need to know.
2. The second thing is about an article from Gail, Paschal Brown at West Tv. She did a article that in 2020 almost 70,000 metro households in the surrounding area earn 50% of the median income or less and are paying That 50% of their income is going toward their housing expense. So 50% of their income is going to housing expense. She interviewed this lady by the name of Shannon as worth from ability housing. And according to a report, the average person is making minimum wage. Now I know minimum wage, you can’t afford anything at minimum wage. But if you work minimum wage, you’d have to work 117 hours a week to afford the average two bedroom apartment that goes for $1321. Okay? Now is that another reason you should become a homeowner? It’s another reason to become a homeowner, rents are going up and they’re going up fast and the report says that you need to make $25.40 an hour to afford a two bedroom home for fair market rent right now, that’s really what you need to make. And she says in the article that she doesn’t see any end in sight, of course you don’t see any end in sight, housing prices are gonna go up. Interest rates are gonna go up at some point here. I mean we keep seeing them go up and they come down, then they go up and go down. So right now they’re steady but they’re not going to go down again. So that was the second big thing you need to know. I thought that was pretty interesting information about renters, and just gives me another reason to tell you to become a homeowner.
3. Then I was reading this jobs report from the Federal Reserve who will be raising interest rates again. They’ve already told you they’re going to raise interest rates again. You know that when Federal Powell says, I’m going to raise interest rates, they’re going to raise interest rates and they start going up even before they do. But here’s an interesting fact That last week mortgage applications rose by 8%, but were down by 29% from this time last year. I think that’s probably because of refinances are starting to tone back down because most people that have already refinanced, but there’s still a lot of folks out there that haven’t you got a rate in the forest or higher? You should call me Now. Here’s another interesting fact, 25% of all sales nationally were cash buyers. Now, here’s the thing, to me Throw that out, Okay, because they’re not the real cash buyer. Real cash buyer George and Betty Smith that sold their house and paying cash for a new one, that’s probably about 3-5%. But they consider these Ibuyer companies to be cash buyers because they’re not getting a mortgage, they’re paying cash for a house. The problem is, is that who’s paying for that? You’re paying for it? You believe these commercials that these are the easiest ways to get into a home by these Ibuyers because there’s no appraisal. You don’t have to repair the house, you just push a button and they go to closing. It ain’t that easy, you guys, it’s a gimmick. Okay now don’t get me wrong they do perform on some levels. But I think you’re leaving $10, $15, $20,000 on the table. And if I said to you will you be willing To go to work for a week to make $20,000? Of course you would. Would you be willing to go to work for a month for $20,000? Yeah, but you won’t be willing to wait for a buyer to get a mortgage to buy your house for the same amount of money. It’s no inconvenience. Don’t leave money on the table. You work too hard for it. Let’s keep our own money.

Those are the three big things you need to know, signing out. Thank you for all you do. I’m always there to help you, your family get honest, true advice. When it comes to a mortgage, it’d be an honor to help you with your next purchase or a refinance transaction. Stay tuned. I’ll be back next week.