The Real Estate Fix With Rich Szerman

On today’s episode of The Real Estate Fix, your host and real estate expert Rich Szerman gives a quick market update.  Much of the same, as interest rates are up a little bit at 7.53 percent according to Forbes.  Rich talks about the “golden handcuffs” that many homeowners find themselves in metaphorically speaking. With the rates too high, many buyers aren’t capable of searching for an affordable property.  He discusses the fact that 70 percent of homeowners have a 4 percent or lower interest rate, thus essentially keeping them frozen in their current mortgage as the rates are much higher at this point.  Additionally, the National Association of Realtors, NAR, has experienced a 30 percent drop of membership, and real estate volume is down 40 percent in California, creating a ripple-effect throughout the mortgage industry.  Rich talks about the California Mortgage Relief Program which is free funds for those who qualify in being  2 months behind their mortgage payment.  The state will pay up to 80 thousand dollars of your mortgage.  Go to camortgagerelief.org for more information.  You can call Rich directly for mortgage or foreclosure assistance at 661-714-1400.

In the second half of his show, Rich welcomes Chris Najarro and Mandy O’Connor from Bridge To Home in studio.  Chris, the Executive Director and Mandy, the Director of Development, talk with Matt about the exciting progress non-profit Bridge To Home has accomplished over the years.  Founded in 1997 as solely a winter shelter and only serving approximately 20 beds, Bridge to Home expanded its services to year-round in 2019 and now has a 60 bed capacity serving those who are experiencing homelessness.  The ladies are proud to announce a permanent shelter opening in June of this year, which will offer 8 units for housing, a medical room, kitchen and dining rooms as well as offices and respite room for clinical therapy.  Additionally, Bridge to Home has an incredible outreach program that connect with those not under their care.   A sold-out fundraiser is happening on February 24^th and is proudly sponsored by Supervisor Kathryn Barger, Intertex General Contractors, Stay Green Inc. and more.  If you are still interested in helping out, Bridge To Home is always accepting monetary donations, paper goods, toiletries, coffee, oatmeal and other supplies.  They estimate they serve about 900 people throughout the year and sadly expect that number to remain the same with the current difficult economy and housing situation.  Go to btohome.org for more.

Previous Episode: The Real Estate Fix With Rich Szerman –2024 Predictions and Beating SLS – February 2, 2024

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