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Podcast: Too Much Bad Real Estate Advice

by CC News
Real Estate Advice

On this episode of  the Contra Costa News Podcast, you ever get the feeling you are getting bad real estate advice such as date the rate and marry the house? Or it always seems like the best time to buy? I sit down with husband and wife team Nate and Tracy Nelson to dispel this bad real estate advice. What is going on with real estate in Contra Costa County. Impact of 3% to 8% interest rates. And if people are being intentionally priced out of the market.

Quick Facts

Based on the Mortgage Loan Calculator and rates by the St. Louis Fed, here is the impact on interest rates over the last 4-years–for the same house on the same $500k loan, its going to cost you $1,600+ more a month.

  • Nov 5, 2020 – 2.78% – $2,049
  • Nov 4, 2021 – 3.09% – $2,132
  • Nov 3, 2022 – 6.95% – $3,310
  • Nov 7, 2023 – 8.067% – $3,692

The average home price in California (Sept. data) was $871k. However, with a median home sale price of more than $1.48 million in San Francisco, you’ll need the greatest annual income — $404,332.

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Rascally Rabbit November 8, 2023 - 10:01 am

“I’m in the wrong business” – M. Burkholder

CC News November 8, 2023 - 10:27 am

I am… would be nice to make $400k per year LOL… for context, listen to the episode haha

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