Wendy Wilmowski is a realtor with Two Crown Home Team at ExecuHome Realty. She appeared on The Drew Mariani Show on 2-17-22 (on Relevant Radio)  with host Drew Mariani. Wendy talked about the markets, especially in light of rising home prices. She had some key insights about why this real estate market is not like the real estate crash of 2008.

Drew Mariani is a nationally-syndicated Catholic talk show host on Relevant Radio. The Drew Mariani Show tackles the hottest issues of the day. His show The Drew Mariani Show airs live weekdays from 2:00 – 5:00 pm CT.

You can listen to Drew & Wendy below. Wendy’s interview runs from 6:14 through 25:15.

• Sub-prime mortgages fueled the crash of 2008.
  A sub-prime mortgage is a mortgage that is offered to borrowers who do not meet the usual lending criteria. These mortgages are higher than the prime lending rate, and they come with a higher risk of default. It was really the sub-prime mortgages that were fueling the market in 2008, and those are not around today. They’re not even an issue.
• Buyers today are bringing cash to the table.
  Cash coming into the market drives up prices. Often, buyers are moving savings from other investments and putting them into buying their primary residence. If a house doesn’t appraise for the mortgage requirement, buyers are willing to make up the difference with cash. This is a fundamental difference between the market today and the market in 2008.
• Because of the pandemic, more people are working from home.
  Many buyers are choosing to leave cities and move to more remote areas. Since their home is now also their office, and not just where they lay their head and cook their food, the perceived value of their home goes up. They’ve been willing to pay more for a home if it will assure them of a comfortable place to work.
• Inventory is very low.
  Even though prices are high, many potential sellers are choosing to stay in their homes. It could be easy for them to sell, but then they’ll have trouble finding another home to buy.
• New home construction is down.
  A number of factors cause this, from the supply chain to inclement weather to pandemic issues.

Wendy Wilmowski

Wendy Wilmowski has been a success in real estate for over two decades. After becoming a real estate agent, she quickly learned the ropes and became one of the top agents in her area.

Wendy dedicates herself to finding the perfect home for her clients. She has a knack for understanding what her clients are looking for and helping them find the right property.

Wendy is also a long-time member of the National Association of Realtors. Being involved with the organization has allowed her to stay up-to-date on changes in real estate laws and regulations that can affect both buyers and sellers.

She also writes about a variety of topics regarding the real estate industry, including topics on buying a home and selling a home, as well as attractions and activities in the areas she covers as a REALTOR®. These areas include Pennsylvania, Maryland, and Delaware.

Some of her blog posts include:
The Best Things to Do in Ocean City, MD
Assateague Island
Assateague Island National Seashore – Chincoteague Island
The Best Beaches in Maryland