Atlanta Real Estate

2010-02-05T05:54:00.000-08:00

2010-01-31T11:13:00.000-08:00

We did it! Margo and I opened our own brokerage firm. We could not have done it without the support from our family and friends. We are excited about providing real estate brokerage services at a reduced commission rate. After all we all need to do things for a little less money.

The services we offer are still the same buyer's agency, FMLS, GAMLS, internet marketing and most importantly results.

So for all of your real estate needs please call us!

Kristin and Margo

2009-12-06T07:39:00.001-08:00

2009 brings 126 Bank Failings Nationwide...23 in Georgia

December 4, 2009, First Security National Bank and Atlanta Buckhead Community Bank was added to the list of banks closed by the FDIC bringing the total of 23 banks failed in Georgia alone.

Hopefully 2010 will bring stability to our financial institutions. With inventory levels at an all time low and interest rates also low we hope that demand will begin to increase reducing our supply of properties.

Atlanta Buckhead Community Bank had several branches in the Metro Atlanta area. Forsyth Community Bank was one of their branches.

2009-11-20T04:36:00.000-08:00

Wishing You and Your Family a Happy Thanksgiving!

Family. That is what we work and live for. As we celebrate Thanksgiving this year, we have much to be thankful for. We survived 2009.

Housing prices in Metro Atlanta are beginning to stabilize. Our inventory levels are the lowest I have seen in almost 10 years. We now have normal inventory. In Forsyth it is 9 months of inventory of homes for sale. In Gwinnett it is as low as 5 months in the price point under $150K.

The first time home credit has been extended and expanded until April 10, 2010 allowing a tax credit for move up buyers.

The Joyner, Barnes wishes you the happiest Thanksgiving.

Kristin & Margo

2009-11-13T12:29:00.000-08:00

Info on the Tax Credit Extension and how it now will be available to Move Up Buyers

2009-11-11T20:27:00.000-08:00

Homebuilders Report Contract/Sales Increase...Stocks increase

Have we passed the bottom? I get that question all of the time. I am always asking people in my industry what they are seeing. Just this past Sunday I was talking to an agent in my office who submitted a bid on a HUD foreclosure home $15,000 over asking price. She felt good that her client bid higher on the home knowing that the home would sell for more than asking since it's condition was goodif not excellent for a HUD home. She recieved word on Friday that her bid was not high enough. There were 4 other contracts that were higher then her clients and the home sold for almost 61% over asking price.

Great news for those selling. Maybe the bottom of the housing mess is over. On the other hand I recently spoke to a friend who works for a lumber supply company and she said commercial is doing ok but residential is still flat.

Today the Dow closed the highest it has all year with a 6th day of trading on the upswing. We did see these gains in August and September only to watch them dissolve in October.

Fox Business reports:

Pulte Homes Inc. (PHM: 10.22, 0.75, 7.92%)The homebuilder saw its shares rise 8.1% after reporting a 42% rise in fourth-quarter net contracts. PHM shares last traded at $10.23, a gain of 77 cents on the day

KB Home (KBH: 15.63, 0.95, 6.47%)The homebuilder added 6.7% to its stock price Wednesday. KBH shares closed at $15.66, up 98 cents on the day.

Lennar Corp. (LEN: 15.12, 0.83, 5.81%)The homebuilder’s shares jumped 5.7% to close the session at $15.12, a gain of 82 cents on the day.

D.R. Horton Inc. (DHI: 12.34, 0.66, 5.65%)The homebuilder’s stock moved up by 5.7% to close Wednesday’s session at $12.36, a gain of 67 cents on the day.

We may have past the bottom of the market here in Atlanta and it loks like we are climbing out. I do believe it will be a tough climb.

2009-11-09T16:56:00.000-08:00

Homebuyer Tax Credit Extended and Expanded

Congress heard you on the need to both extend and expand the homebuyer tax credit to continue stimulating the housing sector of the economy. The Senate voted 98-0 on Wednesday and on Thursday the House voted 403-12 on legislation that includes the extension and expansion of the credit.
The President signed the legislation into law this weekend.

This is a great victory for the economy, for homebuyers, and for all of us in real estate!
More information on the tax credit and what it means to you:

Changes to the Homebuyer Tax Credit Law

Frequently Asked Questions About the New Bill

NAR President - Charles McMillan's Podcast About the Bill Passing

See How the House Voted In Depth: 2009 First-Time Homebuyer Tax Credit

2009-10-27T14:11:00.000-07:00

TAX HOME CREDIT UP FOR SENATE VOTE

The United States Senate is expected to vote, later today, on a bill to extend Unemployment Insurance benefits. This bill will contain the Dodd - Lieberman - Isakson Amendment to Extend and Expand the $8,000 First Time Homebuyer Tax Credit. The Extended and Expanded Tax Credit will contain the following provisions: Amount: $8,000Eligibility: ALL HOME BUYERS (Step-up buyers will have to have lived in their current home for SEVEN* years to be eligible)

Income Limits: $125,000 for single filers/$225,000 for joint filersTime Frame: December 1, 2009 to April 30, 2010 plus 60 Day extension if binding contract is in place by April 30, 2010 *The 7 year ownership requirement is designed to lower the "score" or cost of the tax credit. This is still open to change.

The Congressional Budget Office is going to "score" the cost of 3 year and 5 year requirements. We are continuing to push for step-up buyers to be required be in their current home for three year period.

2009-10-24T14:24:00.000-07:00

HOUSE SALES UP 9.4% sales activity highest in 2 years!

Sales of existing homes jumped 9.4 percent, to a seasonally adjusted rate of 5.57 million units in September from 5.1 million units in August. Sales activity is at its highest level in more than two years, according to NAR figures. Cheaper homes, coupled with the first-time homebuyer credit, are behind the increase, NAR chief economist Lawrence Yun noted.
“We are hopeful the tax credit will be extended, and possibly expanded, to more buyers, at least through the middle of next year, because the rising sales momentum needs to continue for a few additional quarters until we reach a point of a self-sustaining recovery,” he said in a news release.
Unsold inventory totals are 15 percent below a year ago, according to NAR.
“The current housing supply is the lowest we’ve seen in two-and-a-half years,” Yun said. “If we could continue to absorb inventory at this pace, home prices would return to normal, modest appreciation patterns next year.

2009-10-08T15:54:00.000-07:00

Up to $8,000 First-TimeHomebuyer Tax Credit

The American Recovery and Reinvestment Act of 2009 provides for an $8,000 tax credit that would be available to first-time homebuyers.The credit does not require repayment, and it will be claimed on a tax return to reduce the purchaser’s income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.Unprecedented Incentives for New HomesBuilders are offering unprecedented incentives for new homes such as flooring upgrades, new appliances, and discounted financing. Don’t just dream about purchasing a home; make your dreams a reality. Right now is the right time to “Get Off the Fence!”

It's a Buyer's MarketBuyers who are pre-approved have incredible negotiating power. Financing options are available for those with a steady income and good credit. Sellers are pricing their homes more competitively.Lower prices also mean a wider range of options from which to choose in a variety of locations.

Historically Low Interest RatesInterest rates are at historical lows – lower rates equal lower payments, or a larger home – you choose. Contrary to perceptions, conventional mortgages are available at favorable interest rates for homebuyers. Buyers with good credit, a steady income and a realistic view of what they can afford are excellent candidates for a mortgage, even in this market.

Building Wealth with HomeownershipHistorically, homes are a solid long-term investment. For the past 40 years, real estate has delivered the most consistent positive return over any investment. When you buy a home, you are building equity and adding to your assets. According to the Federal Reserve Board, the average renter’s net worth is $4,800, while the average homeowner’s net worth is $171,000. Finally, you’ll see a sizable difference each year when you claim the mortgage interest deduction on your taxes.Get Off the Fence in 2009Prices are right, rates are low and there are plenty of homes on the market NOW. As the economy improves and more people look for homes, prices will rise.If you’re playing the waiting game, remember that the market will come back around – it always does – and you could miss your opportunity for a fantastic deal. Take advantage of today’s market - you’ll be glad you did. Get off the fence and into a home!Talk to Market Experts: REALTORS®Not only can REALTORS® help you find your perfect home, they are an invaluable resource for selling your home as well.Did you know there are over

180 steps in a typical real estate transaction? It’s not worth navigating such a complex process by yourself.Get organized and informed and get ready to get off the fence – contact your REALTOR® today!

Click here to find a REALTOR® in your area.

2009-10-08T15:44:00.000-07:00

Inventory Levels for Metro Atlanta

As of October 9, 2009 listed in FMLS 66,992 total listings for sale.

38,989 single family homes

9067 attached residential homes

2787 farms

7919 residential developed lots

643 multi family

5292 rental

2294 commercial

Inventory levels are half what they were in 2007.

2009-09-12T08:20:00.000-07:00

Georgia Drops to Number 9 in Highest Foreclosure Rates in the US

We have been at number 3, 5, 7 and now rated 9th of the highest number of foreclosures per state. Why you ask? Banks have been aggressive in 2009 in getting these assets off their books. They have reduced pricing, auctions, short sales and loan modifications to get buyers interested. Our state has introduced down payment assistance programs to aid in the sale of foreclosed properties.

Our we out of the woods? Our foreclosure filings have reduced almost a 1/2% from July 2009 but no. Atlanta's unemployment rate will hold us back for another 6 months but I think on Spring of 2010 we will begin to see an increase of sales in our market but until then it is good to see us continue to fall in ranking.

Current ratings as of August 2009 are:

1. Nevada
2. Florida
3. California
4. Arizona
5. Michigan
6. Idaho
7. Colorado
8. Utah
9. Georgia
10. Illinois

2009-09-12T08:13:00.000-07:00

GA Dream NSP $14,000 Down Payment Over

Funds ran out for the Georgia Dream NSP program July 17, 2009. The program opened April 1, 2009 and expected to fund purchases of foreclosed homes until 2010.

How can you still purchase a home with down payment assistance? Homestretch Gwinnett is being run by Gwinnett County is doing a down payment program for homes in Gwinnett County. Homes have to be in superior condition and do not have to be lender or bank owned.

Funds just began available in mid August and I believe they too with run out of funding quickly.

2009-08-23T10:19:00.000-07:00

Foreclosures Listings Down in Metro Atlanta

According to FMLS, foreclosure listings are down in metro Atlanta. In Fall of 2007 many REO brokers had an excess of 400 to 500 listings each. Currently the top REO brokerage companies have 100 listings each. What does this say about our market? I believe the worst has passed us. My prediction is home prices will begin to increase in the 2nd quarter of 2010. Homeowners needing to sell will no longer have to compete against a high number of REO owned properties. What has helped decrease these numbers. Banks are willing to modify loans, auctions and sales have decerased inventory levels and tax credit got buyers off the fence.

So if you are in the market for a home NOW is the time. Prices won't get any better!

2009-07-30T10:09:00.000-07:00

TAX FREE WEEKEND!

To help you with these expenses, the Governor and General Assembly have declared a sales tax holiday from Thursday, July 30 to Sunday, August 2, 2009.

The following items will be exempt from state and local sales tax during the holiday:

Computers and accessories under $1500

Clothing and footwear under $100

School supplies under $20

Of course, the sales tax holiday applies to everyone, even those without school age children. For more detailed information, including lists of exempt items and answers to frequently asked questions, please visit the Georgia Department of Revenue website.

2009-07-29T12:31:00.001-07:00

This article was published on: 02/01/2002 in Realtor Magazine

MANAGING YOUR MONEY

Buy and sell property using retirement dollars

BY KELLI CLICK

Everyone knows the rule of thumb that you must diversify your investment portfolio to spread out your risk. But few people are aware that they can invest in real estate using money from certain individual retirement accounts, known as self-directed IRAs.A self-directed IRA is like other IRAs in every respect, except that it allows account holders to direct their own investments.

You can buy and sell investment real estate for yourself while deferring the tax consequences. And you can earn commissions helping investor clients buy and sell real estate through their self-directed IRA.The IRS allows you to use retirement money to buy real estate in any form: raw land, condos, office buildings, and so on.

Say you find a piece of undeveloped land for an excellent price. You can buy the land through your IRA and then sell it to a developer for a profit. You can also develop the land yourself, though funds for all the improvements must come from your IRA. Once you sell the property, all proceeds go back into your IRA, where the money continues to grow tax-deferred.Properties can be bought, sold, or used as rental property in a self-directed IRA. For rentals, all maintenance and improvement costs, taxes, insurance, and property management fees must be paid from the IRA, and all rental income must go back to the IRA.

But that rental income becomes part of your IRA balance and may be used to buy other types of investments, such as mutual funds, certificates of deposit, stocks, bonds, treasury securities, and even precious metals.When an investor uses real estate in an IRA as a rental property, the custodian of the IRA usually requires the investor to appoint a property manager to collect rents, ensure payment of taxes, and maintain the property.

If you’re the investor, you can’t manage your own investments; the custodian will require a qualified third-party manager. But there’s nothing to say you can’t manage the properties of investor clients you’ve worked with, giving you the chance to earn some income beyond your commission check.

Custodians typically require that any real estate purchased through an IRA be bought outright with no debt financing. In addition, the property must be used for investment purposes only and can’t be used personally while maintained in the IRA.The purpose of requiring free title is to protect the IRA from contractual payments that could jeopardize the IRA if those payments couldn’t be met.When your IRA has complete title to a property, you can turn around and sell the property with seller financing.

The original deed held by the IRA becomes the collateral for the promissory or mortgage note. All payments by the buyers must be paid to the IRA and can be reinvested in the other investment vehicles. Once the promissory note is paid in full, the property is conveyed to the new owners.You can even invest self-directed IRA money in a future retirement home. To do so, you’d use the property as a rental until you retired, then take a distribution of the property from the IRA at the current market value and pay any taxes before you’d be allowed to move in. Isn’t that a nice bit of information to share with prospective second-home buyers?

Kelli Click is vice president of Sterling Trust Co. in Waco, Texas, a self-directed IRA custodian. You can reach Sterling Trust Co. at 800/955-3434.

2009-07-29T08:54:00.001-07:00

Here are some changes to the Fannie Mae underwriting guidelines.

1 Credit documents will be valid for 90 days instead of the current 120
2. IRS Forms 4506 or 4506-T is required at application and at closing.
3. Age of appraisal is reduced from 6 months to 4 months
4. Trailing Secondary Wage Earner Income is eliminated
5. Verbal Verification of Employment required within 10 days of signing the Note
6. Stocks, bonds and mutual funds now valued at 70% instead of 100% to be used as reserves.
7. Retirement accounts valued at 60% instead of 70% to be used as reserves

2009-07-20T10:35:00.000-07:00

HUD 8 Hour Approved Homebuyer Class

Qualified to purchase a home? Trying to take advantage of the down payment assistance p[rograms in Metro Atlanta? If so one of the requirements is attending an 8 hour approved HUD Homebuyer class.

You can find groups offering these classes in GA by going to

http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?&webListAction=search&searchstate=GA

Don't worry these classes have tons of information so you won't be bored!

2009-07-19T07:16:00.000-07:00

72,504 Listings In Metro Atlanta as of July 18, 2009

Inventory numbers have dropped again according to FMLS. That's good news for the housing market. The Atlanta area needs to continue to work on it's unemployment numbers. We have over 10% unemployment rate in Georgia. Have we seen the bottom? Many economist think we have. Let's see next week.

2009-07-05T10:45:00.000-07:00

Atlanta Inventory Numbers- As of July 2, 2009

On July 2, 2009 I did some research on the number of properties that are currently active in our multiple listing service, FMLS. As of July 2, 2009 there are currently 74,682 properties for sale or lease. This number includes single family, townhome, condo, land, lots, rentals, multi-family and commerical property. This is the lowest number I have seen in a year and a half. Out of the 74682 listings the following are the number of foreclosures:

4388 single family
892 townhome/condo
83 land/farm
1548 developed lots
114 multi-family
113 commercial properties

The number of quality listings for sale is dramatically down. I recently showed property on July 3, 2009 and out of the 15 homes we viewed only two were owner, occupied that was not a short sale or foreclosure. Customers looking for good listings with little work have to look hard to find them.

What does this say about our market? Things will begin to turn. If you are needing to sell you home and the home is priced well....you have a shot!

2009-06-23T06:47:00.000-07:00

First Time Home Buyer Forum at Gwinnett Tech

Senator Johnny Isakson welcomes you to a free First-Time Homebuyers Forum at Gwinnett Technical College on Saturday, June 27 at 10 am - 12 pm. Government agencies will be available to answer questions and offer advice. You're welcome to invite others who would be interested in attending. We ask that everyone RSVP's by June 25 via email at rsvp@isakson.senate.gov or phone at (770) 661-0999. Please make sure that everyone who RSVP's includes their name, phone number and email address. An acrobat version of the invitation can be found http://isakson.senate.gov/documents/FTHB.pdf. The National Association of Homebuilders is an informative site on the current tax credit for those who can't attend the forum.

Visit www.namar.org or call (770) 495-7300
for Information About NAMAR

2009-06-10T11:32:00.000-07:00

June 12th Marks the Two Year Anniversary of Housing Downturn

On June 12, 2007 Bear Stearns hedge fund of mortgage backed securities began to melt. So did America's home equity. So where is Atlanta today? With a drop of property values through out metro Atlanta decreasing by 20% in some areas we are all trying to hang in there. Our hardest hit communities are Dekalb, Fulton, Cobb and Gwinnett. These counties have over 10 months of standing inventory of homes for sale. Homes in these counties continue to be tough sells. So where is the silver lining?
* all of the above counties applied and received NSP funds. This will allow foreclosed properties to be purchased by the county and asset managers to rehab these homes.
* GA Dream is allowing $14,000 towards the purchase of the foreclosed home with some restrictions
* interest rates are still very low

I am asked daily..."Are we at the bottom for real estate in Atlanta?" My answer...It's hard to tell. With these programs rolling out we may not see their effect on the market for another 6 months. So when June 12th rolls around marking the 2nd year Anniversary of the housing downturn we will with a sigh and always remember "Nothing ever stays the same."

2009-05-31T18:23:00.000-07:00

HUD Approved the Up to $8000 tax credit can me used as a down payment.

Friday HUD approved the use of the IRS tax credit up to $8000 to be paid to the buyer as a bridge loan as a down payment on a home. This tax credit is available to first time home buyers. If you are looking at taking advantage of the NSP GA Dream Program which provides buyers $14,000 to be used towards the purchase of a foreclosed home, you can use the up to $8000 as well, giving Georgians up to $22,000 towards the purchase of a foreclosed home. Don't forget the GA State tax credit of up to $1800.

Thinking of buying a new home. With all of these programs available....now is the time!

2009-05-22T07:44:00.000-07:00

Information on the GA Dream NSP Purchase Program

The Georgia Dream NSP Purchase Program was created to encourage the purchase of foreclosed properties. Funds utilized are an allocation of federal dollars received by the Department of Community Affairs from the Housing and Economic Recovery Act of 2008.
The program provides $14,000 to eligible borrowers purchasing foreclosed properties in eligible areas. Funds are disbursed in the form of a second mortgage lien with no interest and no monthly payments. The lien is released over a period of five years and six months. Funds may be used for required repairs and/or down payment assistance.
This program begins April 1, 2009 and all funds must be disbursed by June 30, 2010.
How do I apply?
All buyers must receive eight hours of in-person home buyer education/counseling provided by a HUD-approved housing counseling agency.
Contact a Georgia Dream participating lender for pre-qualification and to begin the mortgage loan process. The lender will evaluate your credit worthiness based on FHA or VA guidelines and your qualifications for the program based on the Georgia Dream NSP Down Payment Program guidelines.
Frequently Asked Questions:
1. How do I locate a Georgia Dream participating lender?Click here and choose your area of the state for a list
2. How do I locate a HUD approved Home Buyer Education provider?Click here for a list
3. May I take home buyer education online? No. This program requires attendance at a home buyer seminar or face to face counseling.
4. Can I buy a home anywhere in Georgia? No. You must purchase a foreclosed property in an area of greatest need. Need was determined by the volume of foreclosed properties in a county. Click here to view the map of eligible counties.
5. Are there income limits? Yes. Eligible borrowers must have a total household income less than 120% of the area median income. Click here for the maximum income limit in each of the eligible counties.
6. Are only first time home buyers eligible for the Georgia Dream NSP program? Applicants do not have to be first-time home buyers and they are not prohibited from owning other residential real estate. However, the applicant must occupy the NSP financed property as his or her primary residence within 60 days of closing. Any rental income generated from the ownership of other residential real estate would have to be counted as household income for NSP qualification purposes.
7. If I am a first time home buyer and I use the Georgia Dream NSP program do I still qualify for the federal first time home buyer $8000 tax credit?Yes. If you purchase a home prior to December 1, 2009. Consult your income tax preparer or the IRS. www.irs.gov
8. I would like to use the $8000 federal tax credit as part of my down payment. Can DCA include this amount in my mortgage loan? No. DCA does not have a mechanism in place to monetize the federal first time home buyer tax credit for use as a down payment.
9. Can I use other down payment funds in conjunction with this program?No. Unlike the traditional Georgia Dream down payment programs, the Georgia Dream NSP program cannot be combined with other down payment assistance programs.
10. What interest rate will I pay on my first mortgage loan?The first mortgage loan will be a 30 year fixed rate FHA or VA loan originated by your lender within NSP guidelines. The rate will be determined by current market rates and the lenders choice of investor. Georgia Dream first mortgage interest rates apply only when DCA funds the first mortgage loan.
11. Can I use the Georgia Dream NSP program to purchase a short-sale or a home that is pending foreclosure?No. the property must have been foreclosed and the title transferred to the mortgage lien holder or an eligible agency. Eligible properties must be owned by HUD, VA, USDA, Bank, Government Entity or an eligible Non-profit.
12. Can the Georgia Dream NSP program be used to purchase a home that was a foreclosure, but was already rehabbed by an investor making the home move in ready?Only if the investor used a local government’s NSP program to purchase and rehabilitate the home.
13. Can I use the Georgia Dream NSP program if I am also using the DCA Housing Choice Voucher Program?Yes. However, you must use a Georgia Dream participating lender who also participates in the HCV program. Foreclosed properties in need of repair may not be eligible for purchase. When using the HCV program the first mortgage must be a Georgia Dream first mortgage loan and will be serviced by State Home Mortgage. Consult your Rental Assistance Counselor or your participating lender for complete details.

2009-05-17T16:39:00.000-07:00

Tax Credit for First Time Home Buyers... credit will be allowed to be used as down payment considered by FHA

More possible good news for first time home buyers. Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is considering its lenders to allow home buyers to use the up to $8,000 tax credit as a down payment.

“We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment.” Donovan says. He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

This move will alow many who are able to qualify for a mortgage but don't have the 3.5% down payment to purchase a home.

2009-05-12T11:17:00.000-07:00

Statewide Homebuyer Tax Credit Signed by Governor!

Governor Perdue signed HB 261 yesterday creating a Georgia income tax credit up for the purchase of an eligible single-family residence. Although the bill was signed yesterday, the credit is limited to eligible purchases made between June 1, 2009 and November 30, 2009. The credit created by HB 261 can be claimed one time per taxpayer and is completely independent of the federal first time homebuyer tax credit. The final version of the bill contains the GAR amendment to clarify condominiums and residences occupied at the time of sale are eligible for the credit. In addition, eligible single family residences include 1) new single family residences; 2) previously occupied residences that were for sale prior to the May 11, 2009 and are still for sale after May 11, 2009; 3) owner-occupied residences with respect to which the owner's acquisition debt is in default on or before March 1, 2009; and 4) residences where a foreclosure has taken place and are owned by the mortgagor or the mortgagor's agent.

While there was little debate about the need to stimulate the housing market, state budget deficits left final approval of HB 261 in doubt. Understanding the delicate nature of passing a tax credit bill in our current budgetary climate, House sponsor Ron Stephens and House Ways and Means Chairman Larry O'Neal met with the Governor late in the session and decided to reduce the overall maximum benefit of the tax credit to $1,800 or 1.2 % of the purchase price (whichever is less) spread over three years. By doing so, the overall impact to the state was reduced by allowing the credit to be claimed over three budget years, while continuing to provide a significant benefit to potential homebuyers. from NAMAR

2009-03-31T16:38:00.000-07:00

Here is the White House's plan to stabilize housing. The site contains information on how to make you home affordable! Check it out and take advantage of these programs!

http://www.financialstability.gov/

2009-03-04T14:14:00.000-08:00

Loan Modification Details

Today President Obama laid out the loan modification details to Americans. This program for modifactions is to help Americans who are in risky loans, ARMs or who's mortgage exceeds 31% of household income.

Lenders who modify loans will be given $4500 by the government. Thus creating incentive to work out these loans with folks who are underwater.

Only 1st mortgages can be modified.

Below are the guide lines for the program.

1. You must live in your house, condo, or co-op. (Manufactured homes not attached to a foundation don’t qualify.)
2. If you have abandoned your home or rented it out to help make your mortgage payments, you won’t be eligible.
3. You’ll have to verify it’s your primary residence with a tax return, credit report, utility bill or other document.
4. Borrowers in bankruptcy may be eligible.
5. Your loan has to be less than $729,750 for a single family house; for multifamily homes the cap rises to $1.4 million for a four-unit house.
6. There are no limits on the ratio of the size of your loan to the current market value of your house: Homeowners who are substantially “underwater” can apply.
7. You also have to show that you’re either in default or about to face default. And you’ll have to sign an affidavit saying you can’t afford your mortgage.

For questions regarding loan modification please contact a lender. I have been working with Gina Roberts Lemelin for over 8 years and highly recommend her.She is with Chase Mortgage and her number is 770-540-6471

2009-02-19T11:54:00.001-08:00

First - Time Homebuyer Tax Credit

As Modified in the American Recovery and Reinvestment Act

Many of you were aware of the $7500 income tax credit given for purchasing a home from April 9, 2008 to 2009. There have been some changes to this program that will excite any first time home buyer.

Here are the changes to the program:

1. The program can give you a tax credit of up to $8000 on your income tax

2. Any single family residence including condos and co-ops that will be used as a primary residence qualify.

3. Your gross income can not exceed $75,000 ($150,000 for joint return).

4. The purchaser's or purchaser's spouse may not have owned a primary residence in 3 previous years to purchase to qualify.

5. There is no repayment of the tax credit!

6. You must purchase prior to December 1, 2009.

So start shopping for a bargain. With interest rates low now is a great time to buy.

2009-02-18T09:26:00.000-08:00

GWINNETT COUNTY HOMEStretch DOWN PAYMENT ASSISTANCE PROGRAM
Down Payment Assistance is Available

Applications are now being accepted for the Gwinnett County HOMEStretch Downpayment Assistance Program, for individuals and families purchasing homes in Gwinnett County. This program began in the 3rd quarter of 2008 and funding ran out quickly. But as of today February 18, 2009 funding is available!

This program is funded by HUD’s HOME Investment Partnership Program and is administered by the Gwinnett County HOMEStretch Homebuyer’s Down Payment Assistance Program.

HOW CAN THIS PROGRAM ASSIST YOU?

The Down Payment Assistance Program, known as the Gwinnett County HOMEStretch Down Payment Assistance Program may provide the participant with Down Payment, Closing Costs, and/or Prepaid Items, not to exceed $7,500.00. This is a deferred payment and zero interest loan with a 5 year maturity period.

WHO IS ELIGIBLE?

First-time homebuyers including homebuyers who have not owned a home in three years who meet the income guidelines as established by HUD and set forth below, who are credit worthy and who agree to complete HUD Pre-purchase Certified counseling.

INCOME GUIDELINES

Family Size Maximum Income
1 $39,850
2 $45,550
3 $51,250
4 $56,950
5 $61,500
6 $66,050
7 $70,650
8 or more $75,200

To qualify for a Gwinnett County HOMEStretch Homebuyers Down Payment Assistance Loan, the applicant must purchase a home in Gwinnett County.

WHAT TYPES OF PROPERTIES ARE ELIGIBLE?

Single family detached homes, townhouses, and condominiums constructed after 1977 are eligible.

2009-01-21T15:46:00.001-08:00

Congress helping Homeowners to modify loans

Looking to help homeowners remain in their home Congress is ready to spend the remaining 350 billion dollar bailout funds. Loan modification will help decrease foreclosures and help homeowners to remain in their homes leading to the housing market to stabilize.

Congress is considering tax credits to banks for making such modifications. Ways to modify are extending the loan to a 40 year mortgage, decrease increase rate, refinance using the FHA program.

Already we are being to see banks are more patient and willing to work with the homeowner.

If your housing exceeds 31% of your gross monthly income you could qualify for such a program.

2009-01-18T12:53:00.000-08:00

1st Time Homebuyer Tips

People are getting ready for the buying season. As interest rates drop to a 30 year low, 1st time homebuyers and getting off the fence to begin looking to buy a home. If you are a 1st time homebuyer here are a couple of tips to make the process easier.

1. All real estate agents are the same. No, they are not. When shopping for an agent the first thing you need to ask yourself is "Do I feel comfortable with this agent?" You will be sharing information with them, asking them questions etc. You need to make sure that you can openly communicate with this person. Also, look for an agent with experience. Most realtors who have been in the business for a while have earned designations and awards. Interview several agents during the process. Go to their office and talk with them about the area they work, years of experience and ask how many transactions they have a year. Most importantly choose an agent you talk with!

2. If I wait long enough...I will find the perfect home. There is no such thing as a perfect home. Raymond and I bought our home in Atlanta over 15 years ago. We love the yard. We have children and dogs and needed elbow room in the backyard. Is it our perfect home? No! My home is a box. Though it fits my needs it is not my favorite floor plan...but it does have a great yard and that at the time was more important than the floor plan.

3. I can find my home on my own. The power of the internet has changed my business. Statistics show over 87% of homebuyers turn to the internet before calling a realtor. Yes, you can shop online. Remember, location, location, location. It is important to consider location when buying. This an agent can help you with. We have access to tax records, zoning of adjoining property. In today's market you need to ask yourself why is this seller selling their home FSBO? Did an agent turn the listing down? Is it overpriced or stigmatized?

4. Foreclosures are the best deals. You can find some great deals on foreclosures but working with the asset management company for good contract terms can be difficult. Remember the bank knows little about the condition of the property. Multiple offers are made on these homes and closing terms can not always be met.

Most importantly....hire a professional to help you through this fun time of your life....buying a home. It is the American dream.

2008-12-27T10:08:00.000-08:00

Atlanta Housing Outlook 2009

As we are recovering from the holiday season, many of us in metro Atlanta are wondering when the housing market will return? With inventory numbers at 75,000 homes and condos for sale it would look like a stronger market is coming. Atlanta is recovering and good things are happening.

With a foreclosure rate increase of 80% from 2007 to 2008, Atlanta's metro counties have received funding from HUD to revitalize communities. These counties which have received these funds are Cobb, Dekalb, Fulton and Gwinnett. Gwinnett received 10 million dollars and has allowed non profit and for profit organizations to apply for a grant to receive funding to purchase and rehab homes in Gwinnett county. Taking these homes and repairing them will do nothing but better Gwinnett County. Though our unemployment numbers are high, I predict that over the course of 2009 we will see these numbers decline. All we need to do is hang in there.

Margo and I are asked is this a good time to sell? Yes. We have less homes for sale. So if you are needing to move give us a call. Happy 2009 to everyone!

2008-12-12T05:21:00.000-08:00

RENTAL FRAUD ON THE RISE!

I was listening to Clark Howard yesterday and heard of a scam that I wanted to share with you. If you are in the market for rental property....please do your research on the leasing agent and property. Folks are leasing foreclosed and vacant property that is not there's to lease! The scam is a leasing agent arrives to a vacant home, leases the property with a first and last month's rent. Months can pass by and the proper owner, usually the bank, evicts the tenant.

If you are looking for a rental here are a few tips to protect your $$.

1. ask agent for their license pocket card. As a licensed agent I am required to carry a pocket card. The card has the agent's license number, broker information and the seal of The State of GA. You can also check any agent's license information by visiting The State of Georgia Real Estate Commission.

2. Check tax records. Most counties in GA have their tax records online. This information will give you the proper owner's name and mailing address on record with the county. Visit qpublic.net to be linked to the county tax assessors office. Some of the information is a couple of weeks behind so you can always call or visit the clerk of court. Remember this is public information and you have the right to review it!

3. Last but not least....review the lease. Try to have the lease executed on a Georgia Association of Realtors form.

2008-12-04T06:48:00.001-08:00

Interest Rates on Mortgages may drop!

Looking for the ultimate Christmas gift? Look no further. Predictions are that the US Treasury will drop interest rates to 4.5% for a 30 year fixed mortgage. Rates haven't been this low since 1992. Some of the National Building companies like Plute, Ryland stock increased yesterday by as much as 15% with the mention of this rumor. Stay tuned to see if this will turn to fact. My prediction is that it will and for those thinking of buying now will be the time. Building permits in metro Atlanta are down by 75% and builders are not building spec homes forcing inventory numbers to decrease...yes making prices increase in the second quarter of next year.

The housing market is the backbone of the US economy. If the treasury can jumpstart it this economic downturn won't last very long.

Stay tuned....

2008-10-16T15:10:00.000-07:00

Great Cleaning Products

Whenever I find a good cleaning product that lives up to its advertisement I have to brag about it. A few months ago I saw an ad in a magazine for Minwax Hardwood Floor Reviver. The advertisement stated that it was a no refinish product that was easily applied and made your hardwoods look like new. Well I had to try it. It has taken the home improvement stores awhile to get the product in the stores. Just today I used it and I must say my floors look great. My kitchen and breakfast areas are hardwood and with two children and three dogs they have been well used. This product was easy to apply and the total cost was about $8 bucks. I have a 1/2 of a bottle left over to use again in 3 to 6 months.

Also, the best carpet cleaner to remove pet odors is Capture. You will only find it at you local home improvement store in the carpet section. It comes in a white and purple box. You sprinkle the cleaner on wait 10 minutes and vacuum. We were able to save our carpets and remove pet odors easily. Happy fall cleaning!

2008-10-16T14:02:00.000-07:00

Save the Date! HUD’s Georgia REO Forum will be held

Thursday, Oct. 23, at the

GA International Convention Center.

The two-part event will feature an afternoon industry segment (1p – 5p) and an evening public/homebuyers-focused segment (5:30p – 7:30p).
At the industry presentation, HUD, FHA, Fannie Mae, USDA and VA will give presentations and panel discussions regarding their REO properties and current trends and statistics in Georgia. Additionally, local governments that have received funding from The Housing and Economic Recovery Act - which allocated $4 billion toward neighborhood stabilization - will be present to discuss their visions for new stabilization programs in Georgia. (Registration is required to attend the industry segment - please call 1(800) 961-3181 to register. Seating is limited)

In the evening public segment, the above groups will have exhibit booths and be present to talk to potential purchasers. There will be a special in-depth session for homebuyers on “Purchasing HUD Homes.” This evening segment is open to the public; registration is not required.
More information is available at www.hudpemco.com or www.hud.gov/georgia

2008-10-11T12:12:00.000-07:00

Take a break for the 4th quarter of 2008!

As we head into the fall and 4th quarter of 2008, no one could have expected or predicted the wild ride Wall Street has provided us. I will be honest I am afraid to look at my SEP account and Raymond's 401K plan and I haven't. The reason, you ask, I don't want to panic. Yes, our accounts have taken a plunge and yes so have our real estate investments. But what is a girl to do? Remain calm! I plan on nestling down for the coming 4th quarter and not sell any of our investments.

As my Grandmother would point out, there is a silver lining in everything. Even this correction, recession whatever you want to call it has a silver lining. Here is my list of good things that will or have happened
1. Margo and I have already gotten back to the basis of selling. We will continue to ask for your referral business in the coming year.
2. For those in the market to REO/bank owned properties that are less than a year old and in excellent condition. Banks are willing to deal to get these homes out of inventory.
3. Inventory levels in Atlanta have dropped. Our number of homes on the market have dropped by 20%. If you have to sell...get it on the market! You stand a better chance to sell!
4. Home prices are affordable. In 2004/2005 when I was showing property I was always sticker shocked...and I am the agent! Prices have come down in Atlanta making our lives much more affordable.
5. Building materials are at an all time low. If you are looking to build or add on...go for it. You will not only have the red carpet rolled out for you by the contractor but the costs will be less as compared to 2004/2005.

As we head into the holiday months I know that I will be greatful for the business I have gotten this year and look forward to the referrals I will receive in 2009.

Happy Fall!

2008-10-01T09:33:00.000-07:00

Tips on Cutting Back

With a slowing economy it's time for Americans to watch their expenses. Cutting back on outgoing expenses will allow your family to save money. Here are some tips that I have done and they work!

1. Movies and Entertainment- Look for the movie coupons in AAA and The Entertainment Book. This will allow you to purchase movie tickets at discounted rates. Don't forget to use student ID's and attend the matinee to save $$

2. Eating Out- Check out http://www.restaurant.com/. Purchase a $25 voucher for $10 bucks. This would a great gift idea as well. There are restrictions on days you can use it but hey that's $15 bucks in free food.

3. Free in home movies. Check out http://www.hulu.com/ to download free tv shows and movies.

4. Homeowners and Auto Insurance- Shop around. I recently moved my coverage from a national company and I am saving over $100 bucks a month in auto insurance...no I'm not a bad driver I just have teenagers. Increase your deductibles to $500 or $1000.

5. Online coupons- Thinking of buying something online. Go to http://www.couponheaven.com/ here they have a list of online merchants with promotional codes and discounts. This site will direct you to the merchant site. It's easy. There are many of these services online just search for online coupon codes.

2008-10-01T09:14:00.000-07:00

HOPE FOR HOMEOWNERSHIP:
HUD CONTINUES TO OFFER DOWN PAYMENT ‘ASSISTANCE’

Recent release from HUD...

ATLANTA, Ga. – In a real estate market plagued by setback after setback -- and most recently, the termination of most down payment assistance programs -- the U.S. Department of Housing and Urban Development (HUD) in Georgia offers hope for homeownership, continuing to offer homes for sale with an option of a $100 down payment.
Amidst the collapse of other down payment programs, the “$100 Down Incentive,” which HUD unveiled in October 2007 as a means to promote and increase homeownership, remains available to owner-occupant buyers who purchase a HUD-owned home with FHA financing.
The incentive offer has been well received by purchasers, according to PEMCO Vice President, Kimiko Yamamoto.
“Since the introduction of the incentive almost a year ago, more than 600 HUD homes have been sold to buyers taking advantage of the $100 down offer. We expect to see several hundred more utilize what is becoming an increasingly unique opportunity.”
- more -

HUD DOWN PAYMENT ASSISTANCE – page 2

PEMCO, Ltd. is contracted by the Department to run the Georgia HUD Homes Sales Process, which consists of managing the sale of the one-to-four-unit residential properties on which a foreclosure action has been taken on an FHA-insured mortgage. HUD automatically acquires such properties, and through PEMCO, Ltd., offers them for sale to the public to recover the loss on the foreclosure claim.
There are currently more than 2,000 HUD-owned homes for sale in Georgia, varying the gamut when it comes to price, location and condition. Any of these homes which are eligible for FHA financing are eligible for the $100 down program incentive. In such sales, the $100 down payment takes the place of the standard 3% down payment required by FHA.
Anyone who is able to obtain financing is able to purchase a HUD-owned home by having a HUD-registered agent submit an offer via HUD’s electronic bidding system. The only buyer-requirement for those who wish to take advantage of the incentive is that the buyer must live in the home purchased as his/her primary residence for at least one year.
For more information about the HUD Homes Sales Process, the $100 down payment incentive or to search for HUD-owned homes currently available for sale, visit www.hud.gov or www.hudpemco.com.

2008-09-12T10:38:00.000-07:00

USDA Rural Housing 100% Loans

Please check out the below link for rural housing loans. Counties that qualify for program are Barrow, Walton, Cherokee and Forsyth.

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

2008-09-08T16:54:00.000-07:00

Fannie Mae and Freddie Mac

Government Bailout

How does this affect you?

from my broker Dana Bauguss

As you no doubt know, the federal government yesterday took significant action with regard to Fannie Mae and Freddie Mac. At the outset, Treasury advised that they decided to place the GSEs into conservatorship because the GSEs would not be able to meet their mission on a going forward basis and had begun to sell assets. Treasury further advised that, as a result of the actions taken today, the GSEs will not be under any pressure to sell assets, and that Treasury's actions today will begin to reverse the mortgage cycle and build confidence in the GSEs and the mortgage market. Our view is that: --in the short term the move will provide stability to the mortgage market by easing capital concerns at Fannie and Freddie --Many believe, including NAR Chief Economist Lawrence Yun, that the Treasury move could reduce mortgage interest rates in the short run. --We believe that the new management at Fannie and Freddie will keep its business partnerships intact --Through 2010, the Dept of Treasury plans to grow Fannie and Freddie’s portfolios; i.e. the intent appears to be to expand Fannie and Freddie business, at least during the housing downturn --We think that Fannie and Freddie may actually loosen up credit standards to help stimulate the mortgage market --Concerns about stable domestic and foreign debt investment in the GSEs was likely the primary driver for the fed move. Longer term: It seems that the Treasury plan basically reverts Fannie and Freddie to a facility for federally backed mortgage debt. The Treasury theory appears to be to employ the GSEs as a counter cyclical model -- when times are tough they will ratchet up the companies; when the environment is more "normal" they will ratchet back and let the private market carry the ball. Regarding the future structure of Fannie/Freddie: Next year Congress and the new administration and all interested parties will be consumed with the question of what the post conservator GSEs look like. Here are the main facts regarding the federal action:
1. Conservatorship Fannie Mae and Freddie Mac are placed into conservatorship immediately. (No change in status for the Federal Home Loan Banks.)
2. GSE Portfolios To promote market stability, the GSEs will be allowed to increase their MBS portfolios through the end of 2009. However, starting in 2010 the portfolios will gradually be reduced at a rate of 10% per year through run-off, eventually stabilizing at a much lower size.
3. Treasury Preferred Stock Agreement Treasury and the Federal Housing Finance Agency (FHFA) have established a Preferred Stock Purchase Agreement to ensure that each company maintains positive net worth. These agreements are intended to provide security to GSE debt holders and MBS investors. In exchange, Treasury receives a senior preferred equity share and warrants to protect taxpayers - common and preferred shareholders will bear any potential losses ahead of the government's senior preferred shares.
4. Secured Lending Credit Facility Treasury has established a new secured lending credit facility which will be available to Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. This facility is intended to serve as an "ultimate liquidity backstop." This facility will expire on December 31, 2009.
5. Treasury Program to Buy GSE MBS Later this month, Treasury will be initiating a temporary program to purchase Fannie Mae and Freddie Mac MBS. Such purchases will be made as appropriate. The program will expire on December 31, 2009.

2008-09-02T10:21:00.000-07:00

Georgia Dream program Providing Down Payment Assistance for GA residences.

Thinking of owning your own home? The Georgia Department of Community Affairs helps homeowners obtain this goal.

Program includes assistance for teachers, community workers, military families, community workers such as policemen, firemen etc. There is even down payment assistance for folks woth special needs.

There are income limits based on the number of dependents the homeowner claims. Each program is a little different but a good example is:

1 to 2 dependents income limit $68,000
3 or more dependents income limit $78,000

For more information n this wonderful program please contact Gina Roberts with Chase Mortgage at 770-540-6471 or visit their website:

http://www.dca.state.ga.us/housing/Homeownership/programs/GeorgiaDream.asp

2008-08-03T07:44:00.000-07:00

Government Land For Sale

The office of Property Disposal is auctioning of federal owned property through out the US. From lighthouses to warehouses, these properties can be purchased through an online bidding process. Like ebay you register and make your highest bid. Like all purchases make sure you do research on the feasibility of the property. Or like me, just have fun looking at what is for sale. To view current and up coming auction visit:

https://propertydisposal.gsa.gov/ResourceCenter/PRHomePage/loadPRHomePage.do

2008-08-01T19:46:00.000-07:00

Single Family Homes..How Many Months of Inventory?

A great indicator to see how much competition exists is to look at the number of months of inventory. If no other homes are placed on the market it would take, typically in a steady market, 8.5 months until all of the homes are sold. Below are the number of months of inventory in the single family home market. These numbers are broken done by county. As you will see most of the outlying counties have the highest inventory numbers. These areas also have the highest months of inventory of new homes and developed lots.

Good thing is we currently have over 92,000 homes for sale in metro Atlanta. Down by 19,995 in November 2007. This is according to FMLS/MLS data.

County Months of Inventory

Banks 10.6
Barrow 7.8
Cherokee 10.6
Dawson 17.6
Forsyth 8.9
Gwinnett 10.5
Hall 12
Jackson 16.6

What does this mean to me? With the new housing bill we are hoping the the rate of foreclosures will begin to drop. This will help decrease the months of inventory. As the months of inventory begin to decline, buyer confidence will come back and more homes will sell. So, if you are looking for a new home, now is the time. Happy house hunting.

2008-08-01T10:18:00.000-07:00

Housing Stimulus Bill is Signed by President Bush

Here comes relief to many homeowners with ARM mortgages.

For more information on this housing bill please visit:

http://money.cnn.com/2008/07/30/real_estate/housing_rescue_guide/index.htm

For those that may be in the market for a new home you may be eligible for a $7500 tax credit if you purchase a home from 4/2008 to 4/2009.

2008-07-29T18:58:00.000-07:00

Kristin and Margo's Web Commercial

Check out or lastest web commercial! You will see that we are the best agents in metro Atlanta!

2008-07-25T10:40:00.000-07:00

Jim Cramer Host of "Mad Money" Says Buy, Buy, Buy

Thursday morning on Regis & Kelly their guest was Jim Cramer, the host of "Mad Money", a program on CNBC. He's the financial guru. His advise now is to BUY, BUY, BUY in Real Estate & stocks! Seems as though he believes the economy is turning around as gas prices go down (predicted to be a drop of 40 cents over the next month). That was so good to hear!

If you need our help...please let us know!

2008-07-25T06:43:00.000-07:00

MIP Upfront Amounts- Changed based on

Loan Amount and Credit Score

From Gina Roberts with Chase Mortgage

I have financed FHA loans in one form or another for 16 years and onerecurring question I have been asked over and over again by the agent is,"What is the up-front MIP amount?" This used to be a simple answer, but moving forward, the answer is, "It Depends". This is a brand new policy I feel you should know about.The up-front (or financed) mortgage insurance is now based on LTV andcredit score.

Today, I am writing about the percentages when the LTV is greater than 95%since this will be 95% of the FHA contracts you will write.

Here is a breakdown of the new percentages.

For Loan to value greater than 95%:
Credit Score of 850-680 - the up-front PMI is 1.25%
Credit Score of 680-640 - the up-front PMI is 1.50%
Credit Score of 639-600 - the up-front PMI is 1.75%
Credit Score of 599-560 - the up-front PMI is 2.00%
Credit Score of 500-559 - the up-front PMI is 2.25% (OR 2.00% should thebuyer choose to pursue counseling with a HUD approved counselor)

Non Traditional Credit (or zero credit scores ) will have an up-front PMIof 2.00%

I hope this is helpful to you.

Regina L RobertsPhone: 770 540-6471
Private Fax: 866 914-7420
http://www.gamortgageplanners.com
PEOPLE MATTER

2008-07-22T15:22:00.000-07:00

New Buying and Selling you Next Home Guide available!

The Joyner, Barnes Team has recently updated their home buying and home selling guide. This comprehensive guide includes
1. What is Buyer's Agency?
2. Financing you new Home.
3. Staging and selling your home.
4. Glossary of real estate terms.

To view this guide please click here. For your paper copy please contact us.

2008-06-28T08:56:00.000-07:00

Homeowners Summit offered on June 28, 2008. For more info go to http://www.hudpemco.com/
Learn about purchasing a HUD home and other important information on purchasing.

2008-06-21T08:51:00.000-07:00

Alternative Power Sources for Residential Applications

More Possible and Affordable.

As the daughter of a professor, I have always taken an interest in alternative energy production. I have been monitoring the advances in solar energy. The bulky, heavy grids from the 1970's are no longer. With then advancement of science solar power shingles are now light weigh weighing only 4.8 pounds. Check out this video by HGTVpro.

http://www.hgtvpro.com/hpro/pac_ctnt/text/0,2595,HPRO_20196_55073,00.html?c=481&videoid=63323

In the next couple of months I will be checking into the cost and possible installation of solar shingles to the back of my home. At energy cost at an all time high this may be a great way for homeowners to generate their own power. Keep in touch for feature blogs on this great concept.

2008-05-29T07:24:00.000-07:00

DeKalb County
Inefficient Plumbing Fixtures Ordinance goes into effect June 1, 2008

Effective June 1, 2008 all residential structures constructed in DeKalb County before January 1, 1993 must be retrofitted with water conserving plumbing fixtures upon resale.

For full information on the Requirements, Exemptions and Criminal Penalties for non-compliance go to the following websites:

DeKalb Association of REALTORS: Retrofit Plumbing Information

DeKalb Water Department: http://rs6.net/tn.jsp?e=001pa7mEg1aFrfoNS83nwpv19j_CgEHp1SwblYXSDzRNwUqWDi8N_Svc-ErwhuFrm7Ln9XEBnQ01OFYzwv7bx6wYFNYSEx8184orJn7xs1KftgEVluLPpXnQds6Icja4H76

2008-05-28T07:24:00.000-07:00

FEMA has come out with new Flood maps affecting many Georgians.

FEMA has recently added new flood areas to their maps. This is affecting many people who have a creek or stream on their property. Some mortgage companies are asking for flood insurance on structures that are 50 plus feet from the bed of a creek. If you have been affected by this you can ask for a Letter of Map Change or LOMA through FEMA. This will save you as much as $2000 per year in flood insurance.

To learn more please visit FEMA's website:

http://msc.fema.gov/webapp/wcs/stores/servlet/info?storeId=10001&catalogId=10001&langId=-1&content=userHelp_homeowner&title=Homeowners/Renters

There they offer the application and directions on how to apply for a LOMA. In short you will need to get your property surveyed showing the typography of the land. The surveyor will indicate the elevations of your structure to the creek bed allowing FEMA to make a determination of the of need of flood insurance.

As a Realtor, I recommend completing this application. This expense of flood insurance will give you a disadvantage when trying to sell your home.

If you need additional information please give us a call we will be happy to help!

2008-05-15T07:47:00.000-07:00

Triple A baseball Coming to Lawrenceville

The Richmond Braves are heading to Gwinnett County. The new stadium is being built and is located less then a mile from the RE/MAX Greater Atlanta office off highway 20. Everyone is excited! For more info check out htt p://www.gwinnettcounty.com/

2008-05-15T07:43:00.000-07:00

"Hotlanta" had 71,000 residents move to metro Atlanta for 2007

Atlanta was names by ERC (Employee Relocation Council) as the third best city to relocate. Reasons that were given were
1. cost of living
2. weather
3. quality of life- lots of stuff to do here.

If you are looking to move to metro Atlanta give us a call!

2008-03-27T05:41:00.000-07:00

Why you should list with RE/MAX Greater Atlanta

2007 Accolades (Compiled from 2007 data)

* #1 in Homes Sold in Atlanta
* 13,876 Homes Sold in 2007
* #1 in Agent Productivity - 14.5 Homes Sold per Agent Annually
Selling 60% More Homes per Agent Annually Than Closest Competitor
Atlanta’s #2,#4,#9,#11,#14,#15,#20,#23 Most Productive Offices by Sales Volume
* Averaging 33% More Sales Volume Per Agent than Closest Competitor
* RE/MAX International’s $3.7 Billion Dollar Company
* Nation’s 18th Largest Real Estate Broker, Real Trends 2006
* Home to 8 of the Top 25 Residential Real Estate Offices
* RE/MAX of Georgia’s #1 Office, Total Transactions (Metro Atlanta)
* RE/MAX of Georgia’s #1 Office, Total Sales Volume (Metro Atlanta)
* Home to ten (10) of RE/MAX of Georgia's Top 25 Individuals
* Home to eleven (11) of RE/MAX of Georgia's Top 25 Teams
* Atlanta’s #1 Company – Real Estate Experience per Associate
* Atlanta’s First & Foremost “One-Stop” Residential Sales Center
* Accounting for More than a Quarter (25%) of All RE/MAX Homes Sold in Atlanta
* Accounting for a Third (33%) of All RE/MAX Residential Sales Volume in Atlanta

Additional Facts:

* More gross residential sales volume than Metro Brokers/GMAC & Keller Williams Realty (Pinnacle Partners) Combined
*More than 3 times (3X) Solid Source Realty’ Gross Residential Sales with half (1/2) as many agents
* More than double (2X) Keller Williams’ Gross Residential Sales
* More than double the number of home sales per agent than Harry Norman, Prudential, Metro Brokers/GMAC, Jenny Pruitt, KW Pinnacle Partners
*Smallest market share loss of any residential real estate company in 2007 (comparing companies with greater than $1 Billion in Gross Residential Sales)
* Atlanta's #1 RE/MAX Company
* RE/MAX has 12 of Atlanta's Top 25 Residential Real Estate Offices (RE/MAX Greater Atlanta owns 8 of the 12 offices)
* RE/MAX has 13 of Atlanta's Top 25 Residential Real Estate Companies (RE/MAX Greater Atlanta is the #1 RE/MAX Company)

Annual Productivity per Agent (2007)

RE/MAX Greater Atlanta 14.5
Coldwell Banker Residential Mortgage 8.8
Jenny Pruitt & Associates Realtors 6.4
Harry Norman Realtors 6.3
Prudential Georgia Realty 6.1
Metro Brokers/GMAC Real Estate 3.1
Keller Williams Realty Pinnacle Partners Group 5.0
Solid Source Realty Inc 2.1

2008-02-03T11:38:00.000-08:00

Forsyth County Named in Forbes Magazine as on of US's Richest Counties

Forsyth County recently was named 13th on Forbes list of richest counties. With a median income of $83, 682, Forsyth was Georgia's only county that made the list.What does this mean to the average home buyer? VALUE. With outstanding schools and easy access to Atlanta, Forsyth has long been a fast growing county in the US. Sounds like it will continue to be a fast growing community!From Forbes Magazine:13. Forsyth County, Ga.Median income: $83,682Georgia isn't one of the country's biggest states, but it is made up of more counties than any other. The result? Counties post specific demographics. Take Forsyth. It's a part of the Atlanta metropolitan area, but the median household pulls in $33,000 more a year than neighboring Fulton County.

2008-01-13T07:46:00.000-08:00

Mortgage Rates at an all time low... expected to drop again in Febraury 2008

For all of you buyers waiting to see when the right time to buy will be....get off the fence! Rates are expected to drop again when the Federal Reserve meets at the end of January. Current mortgage rates are 5.5% for a 30 yr. fixed mortgage. If you are wanting the buy....now is the time. With inventory numbers at an all time high and rates at an all time low. This is the perfect buyers market. So call your buyers agent and start looking! Needing an agent. Call us.

2007-12-20T13:42:00.000-08:00

Real Estate: Last of the red-hot markets
Why is housing in some cities still booming? The answers may help you navigate your own market.

By Joe Light, Money Magazine staff reporter
December 2 2007: 10:21 AM EST
NEW YORK (Money Magazine) -- When Elisabeth and Tom Merrill decided to sell their home in Wenatchee, Wash. (pop. 107,000), they braced themselves for a long slog.
The couple and their four kids were bursting out of their 2,400-square-foot house, but they had read about the nation's slow-as-sludge real estate market and expected the worst.
But their house sold in 10 hours for $387,000, 80% more than they paid six years ago. "I was thrilled," says Elisabeth. "I can't believe how fast it happened."
While housing prices increased only 3.2% nationally in the year ended June 2007, according to the Office of Federal Housing Enterprise Oversight (OFHEO), a government regulator, prices in Wenatchee shot up 24%, partly because a recent influx of retirees boosted demand for housing.
Wenatchee is not the only hot spot bucking the national trend. Markets in the Pacific Northwest, Utah and Colorado still boast annual appreciation rates of 10%-plus, along with a scattering of bright spots in the South and even in the East and the Midwest.
How to account for these exceptions?
For the most part, the iron laws of supply and demand explain what's going on, with the added element of wild and crazy speculation. If you understand how such factors are playing out in these red-hot markets, you'll be better able to anticipate changes, and develop smart housing strategies, right at home.
It's the Demand, Stupid
The basics haven't changed. Job growth and rising incomes boost demand for, and prices of, housing.
Take Grand Junction, Colo. (pop. 140,000). The area is home to one of the country's richest natural gas fields, and local energy companies have recruited new employees, ballooning the city's work force by 26% since 2002 to about 63,000. The median price of a house in Grand Junction soared 65% in the past five years and 14.3% in the past year.
"Along with previous price gains, job growth is by far the most significant variable in forecasting growth," says Robert Shiller, co-founder of a home-price research company and professor of economics at Yale.
Whether Grand Junction will be able to sustain that steep growth curve depends on whether jobs keep increasing and people come to take them.
"If you don't have strong population growth, it's likely that the market won't appreciate in the long term," says Celia Chen, director of housing economics for Moody's Economy.com.
Case in point: Denver, only a mountain range away. The number of jobs has grown by only 7.8% in the past five years, holding house prices to a tepid 13% rise over the same period.
Supply Side
If it's not demand pushing prices up, it's got to be you-know-what.
One city where housing is tight: Portland, Ore., which has passed some of the most stringent growth restrictions in the country.
The government limits new housing outside a 400-square-mile perimeter to encourage denser development in urban areas. Land costs have skyrocketed and developers have been slow to add housing. So despite the slide in national house prices, in Portland they appreciated by about 8% in the past year.
Portland's policies have been partly responsible for price run-ups in outlying towns like Longview, Wash. (pop. 35,000), says Glenn Crellin, director of the Washington Center for Real Estate Research.
Once a sleepy town, Longview, an hour's drive from Portland, draws home buyers looking for lower prices. (The median price of a house there is $183,000, but $298,000 in Portland.) Prices shot up in Longview by 13.6% in the past year.
With tight supply and high demand, prices could have a tailwind indefinitely.
A trio of economists, Joe Gyourko, Christopher Mayer and Todd Sinai, have argued that persistent growth in cities they dub "superstars" (for example, New York City and San Francisco) is fueled by a limited supply of housing and by a concentration of high-income families who are willing to pay top dollar to live there.
True, both cities have hit bumps in the road in the past, and prices over the past year in the New York metro area rose by only 2.7% while in San Francisco they sank by about 1%. But, Gyourko says, "over the long term they will outstrip the national average."
The Madness of Crowds
Rampant speculation can also keep home prices burning.
The frenzy starts, naturally enough, when economic growth increases housing prices and property owners profit big when they sell. More people buy houses or condos, by the dozen, figuring that they'll earn a bunch of quick bucks instead of just one.
Real estate developers, seeing others profit, get in on the act by building thousands more homes. Eventually, speculators are merely selling to one another at ever more inflated prices. And when the last to buy or build can no longer flip those houses, prices plummet.
That's what happened in Miami and other South Florida towns where investors ran out of buyers who could afford to pay.
At the height of the bubble, prices in Miami were rising by 3% to 4% a month. Now only about 10% of homes in Miami are affordable for residents earning the area's median income, according to the Housing Opportunity index, published by the National Association of Home Builders and Wells Fargo. (The index assumes that homeowners can spend about 28% of their income on housing. )
Bubble burstings occurred in other cities too. "Las Vegas saw tremendous appreciation during the boom," says Andrew Leventis, a senior economist with OFHEO. "Prices just got ahead of themselves." Affordability dropped to just 16% by mid-2006 and home values tanked, declining by 6%, according to Zillow.com, an online real estate appraisal service.
Housing in one hot market, San Antonio, where prices rose 10% in the past year and 40% in the past five years, is still fairly affordable. But it may soon go the way of Miami and Las Vegas. Between 25% and 29% of loans in the city in 2006 were for second homes or investments, according to Freddie Mac.
"It suggests instability in the market," says Robert Shiller. "Prices could drop significantly."
What It All Means
You're not going to pick up and move to Wenatchee, Wash. just to get into its housing market. But today's hot markets can tell you a great deal about the value of your own housing investment.
If the economy's okay, your market will be too... You needn't worry about house prices collapsing if local industries are doing well. By merely reading the business section of the local paper, you get a sense of the economic climate.
Announcements that companies are expanding or building new factories, or conversely, moving operations to Uttar Pradesh, can tell you where house prices are headed.
For example, a headline in the Beaumont Enterprise last year proclaimed that the Beaumont, Texas area was "poised for economic progress." The expanding petrochemical industry was looking to recruit 18,000 new employees. And in the year ended June 2007, the average price of a house in Beaumont/Port Arthur rose by 10.6%.
...as long as speculators aren't dumping properties. If they are, your local market could be headed for a bubble pop.
Signs that investors are rife? FOR RENT signs lining the streets and no cars in the driveways at night. If you're buying a new home, make sure the developer restricts investors from buying up too much of the inventory.
Hot pockets exist even in chilly markets. Even après-bubble, prices in some neighborhoods will be on the upswing.
For example, in the Boston metropolitan area, home values dipped 4% in the past year, according to Zillow.com. But in Newbury (pop. 7,000), another Boston suburb, where the median value of a home is $491,000, prices appreciated 8%.
Typically, such trend-upsetting enclaves are lukewarm neighborhoods that haven't seen the rocketing prices of "hot" markets down the road, says Stan Humphries, vice president of data and analytics for Zillow.com. "As some neighborhoods become radically more expensive, prices push buyers to the formerly less attractive places and put upward pressure on prices."
The laws of economics still apply. Cycles happen.
Five years ago it looked like fat year-to-year gains in home prices would continue forever. That assumption came crashing down earlier this year when a Standard & Poor's report showed that home prices in the first quarter had fallen for the first time in 16 years. That too will end. But since housing generally has a 10-year price cycle, you shouldn't rely on prices rising much for the next decade.
If you've owned a house for a while, you don't have to worry. The gains you've enjoyed in recent years are huge compared with recent price downturns.
Even if the median price of a single-family home in Miami, now $393,000, falls by 20%, the price on that house would still be about $20,000 higher than it was at the end of 2004.
"With all the sound and fury associated with the recent downturn, in the places with the most dramatic price declines, they've only erased a few quarters of appreciation," says OFHEO's Leventis. "Long term, prices still tend to go up."

2007-12-18T12:05:00.000-08:00

FORECLOSURE FRAUD: FREDDIE MAC WARNS BORROWERS WITH VIDEO DRAMATIZATION ON YOUTUBE
McLean, VA – Can a custom made video posted to YouTube™ keep troubled borrowers from losing their homes to fraud artists? Freddie Mac aims to find out.
One of the nation's largest investors in residential mortgages, Freddie Mac (NYSE: FRE) decided to produce an Internet video dramatizing a common foreclosure fraud scheme after a new survey found one-in-four delinquent borrowers go to the Internet before their bank or lender for information about avoiding foreclosure. Freddie Mac's anti-fraud video can be found at http://www.youtube.com/AvoidFraud.
Freddie Mac's two-minute YouTube video uses professional actors to demonstrate how con artists can:
Get copies of foreclosure notices at City Hall or a county courthouse;
Persuade distressed borrowers to give up the deeds in exchange for suspicious promises to solve their financial problems;
Use the deeds to secure new loans for themselves; and,
Let the new loans go into foreclosure, which means the homeowners looking for help can still end up losing their house.
“With fraud reports on the rise, we are using every communication channel out there to warn borrowers about these fraudsters and urge borrowers to call their lenders when they fall behind on their mortgage," said Ingrid Beckles, vice president, Servicing and Asset Management, Freddie Mac. “By working with our servicers, Freddie Mac is now helping an average of 1,000 delinquent borrowers a week avoid foreclosure through forbearances, repayment plans or other workout options."
Freddie Mac decided to produce the anti-fraud video for You Tube after a 2007 company-sponsored study that discovered that 25 percent of delinquent borrowers go to the Internet first for mortgage information, only slightly less than those who call their mortgage lender (28 percent) or bank (32 percent). GfK Roper Public Affairs & Media, a division of GfK Custom Research North America, conducted the survey of 2,400 borrowers.
Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.
Freddie Mac, one of the nations largest

2007-08-31T05:18:00.000-07:00

Mortgages rates fall to lowest point in 3 months
Freddie Mac: Average for 30-year, fixed-rate fall to 6.45 percent

What a better time to buy! On the heals of mortgage companies folding and a moderate sales year in Metro Atlanta, the Feds lower interest rates to help add stability the housing indsustry. Rates on 30-year mortgages fell this week to the lowest level in three months.
Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.45 percent. That was down from 6.52 percent last week and was the lowest level since the week of May 31, when rates stood at 6.42 percent.
The moderation provides welcome news for prospective homebuyers, many of whom are finding it harder to obtain loans as lenders tighten up on borrowing standards in the face of rising loan delinquencies.

Rates in other mortgage categories were mixed last week.
Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, averaged 6.12 percent, down from 6.18 percent last week.
But rates on five-year adjustable-rate mortgages, rose slightly to 6.35 percent, compared with 6.34 percent last week.
Rates rose more steeply for one-year adjustable-rate mortgages, climbing to 5.84 percent, up from 5.60 percent last week.
The big drop in 30-year mortgage rates followed the Aug. 17 decision by the Federal Reserve to slice its discount rate, the interest it charges to make direct loans to banks. That move was designed to calm recent turmoil on Wall Street about a spreading credit crunch.
Many economists believe the Fed will soon decide to cut its more economically significant federal funds rate fund, a key benchmark for millions of consumer and business loans.
The mortgage rates do not include add-on fees known as points. Thirty-year mortgages and 15-year mortgages each carried a nationwide average fee of 0.5 point. Five-year ARMs had an average fee of 0.6 point while one-year ARMs carried an average fee of 0.8 point.
A year ago, rates on 30-year mortgages stood at 6.44 percent, 15-year mortgages were at 6.14 percent, five-year ARMS averaged 6.11 percent and one-year ARMs were at 5.59 percent.
After a five-year boom, sales of both new and existing homes fell sharply last year. The slump has gotten worse this year as lenders have tightened standards amid soaring foreclosures and late payments. Those problems began in the market for subprime loans which are offered to borrowers with weak credit histories, but have now spread to other loan categories.

2007-08-01T16:24:00.000-07:00

PENDING HOME SALES UP!!!!! MARKET MAY STABILIZE IN MONTHS AHEAD!

A forward-looking indicator based on pending sales of existing homes suggests the market may stabilize in the months ahead, the National Association of Realtors reported today.
Although the Pending Home Sales Index, based on contracts signed in June, was still 8.6 percent lower than a year ago, it rose 5 percent to 102.4 from the downwardly revised May index of 97.5. This is the largest monthly gain in more than three years, since a 6.1 percent increase in March 2004, according to NAR. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.
Between May and June, the index in the West increased 8.6 percent to 103.6; in the Northeast, it was up 3.1 percent to 96; in the South, it increased 4.7 percent to 111.6; and in the Midwest, the index gained 3.5 percent to 92.5.
Lawrence Yun, NAR senior economist, said it is encouraging that the increase occurred in all four major regions. "However, it is too early to say if home sales have already passed bottom," he said. "Still, major declines in home sales are likely to have occurred already and further declines, if any, are likely to be modest given the accumulating pent-up demand."
Despite the month-over-month gains, the indexes in all four regions were still lower than the same time last year, with the West 5.5 percent lower than June 2006, the Northeast down 2.4 percent, the South off 12.7 percent, and the Midwest lower by 8.2 percent.
The index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
Annual changes in the index are more closely related to actual market performance than are month-to-month comparisons. As the relatively new index matures and seasonal adjustment factors are refined, the month-to-month comparisons will become more meaningful.

2007-07-25T09:47:00.000-07:00

HOMES SALES STILL FALLING...WHAT DOES THIS MEAN? WHAT A GREAT TIME TO BUY!

My husband Raymond and I have always been on the tail end of trends. When Webvan came to Atlanta it took several recommendations from our friends to place an order. Webvan was an online grocery service that brought groceries to your home on the day you requested. The service was good, the prices were slightly higher then the traditional grocery store but you saved time and money since you didn’t have the impulse purchases. The first time I placed an online order I ordered bananas. I put 5 in the box and hit send and afterwards I thought did I order 5 bananas or 5 pounds of bananas? I pictured in my mind a bushel coming to my door and having to give them to neighbors. Luckily, it was only 5 bananas! After I became a loyal customer the company went out of business. I still wish I had jumped on the ban wagon earlier.

How does this relate to purchasing a home? Currently, the market in metro Atlanta is feeling the effect of the National Real Estate Market. Prices for new home construction are staying put with builders offering discounts on current inventory. We are going through a correction in the market place. Our commercial market is booming, which indicates continued job market growth. Also, apartment owners are able to charge more for rent. Thanks to the collapse of the sub prime market there are less home buyers then renters. Keeping this in mind, what a great time to buy! Buyers are in an excellent position for negotiation. If you are looking to move and want to buy low….now is the time. How long will this correction last? Well nothing last forever…but I will say jump on the ban wagon now before the market correction is over. Don’t be like Raymond and I and at the tail end of the buyer’s market trend! HAPPY BUYING!

2007-06-29T16:40:00.000-07:00

Don't let your yard sabotage your home sale

Will your landscaping pull in buyers or make them drive on by? Outdated or extreme styles, high-maintenance features and invasive or overgrown foliage can kill interest. Here are the experts' do's and don'ts. By Melinda Fulmer
Prep your yard for home-buying season
Writing the perfect home listing
Is an open house a waste of time?

For homemaker Sue Wildrick, it was the koi ponds that killed the deal.

While the house she and her husband looked at in Denver last winter had its appeal, its elaborately bricked-in backyard and large network of fish ponds seemed like too much work. "It was a little overwhelming," Wildrick says. And it provided little room for the family to play games or throw a ball to their dog. "We would have probably had to take some of that stuff out."

These days, elaborate patios, outdated or high-maintenance landscaping and invasive plants and trees can kill buyer interest in a home almost as quickly as an outdated kitchen or orange shag carpeting, according to landscaping experts and real-estate agents.

"Landscaping often makes the difference between a prospective buyer getting out of the car for a closer look at the house and simply driving on by," says Cynthia Bee, of Solscapes Landscape Design in Salt Lake City.

Indeed, agents say, good landscaping can provide more bang for your buck than almost any other home improvement -- provided it's done right.

A few do's -- and 6 don'ts
Buyers today expect landscaping that's easy to take care of and water-wise, and offers benefits like shade or privacy, says Bruce Butterfield, research director for the National Gardening Association.
A pot of bright annuals by the front door isn't going to do it for most discriminating buyers.
"There's really a trend towards landscaping that is both functionally and environmentally correct," Butterfield says. "You want to have the right plants in the right place."

2007-06-20T07:15:00.000-07:00

TUCKER -

The national housing market hasn't really gotten rave reviews lately. Subprime lending has led to an increase in foreclosures around the country. Abnormal appreciation rates have led some people to have trouble selling their old homes, which means they can't buy new ones. And a decrease in buyers has led to a decrease in new home starts.But local experts gave a more rosy outlook for the metro Atlanta housing market at a press conference at the Greater Atlanta Home Builders Association Housing Center on Thursday.In fact, one expert went so far as to say he can't think of a better opportunity for potential homebuyers in Atlanta."It's probably the best time to buy a home that's existed here in the 25 years that I've been in the business," said Larry Liebross, chief operating officer of New Homes America, an Alpharetta-based company specializing in the sale of new homes.One of the reasons metro Atlanta has been more stable is because most people buy homes in the area for long-term living, said Roger Tutterow, dean of the department of economics and finance at Mercer University.Most people are not buying homes in Atlanta to resell them quickly and make a profit. The areas where that has occurred are known as bubble, or speculative, markets and they have been the ones hit the hardest by the housing downturn, Tutterow said.Liebross agreed, pointing out most of the bubble markets are areas with high population growth and a limited supply of developable land. While Atlanta has had high population growth, it has not lacked land to build on."When you have demand exceeding supply, you wind up with those types extremes," Liebross said. "Atlanta's always been a much more level market."Liebross said Atlanta has still been affected by residents in the bubble markets who are unable to sell their old homes.Eugene James, the Atlanta director of housing market research firm Metrostud, said many of the areas Atlanta has traditionally drawn new residents from are those bubble markets such as Florida, California and the Northeast.Still, despite some potential buyers being unable to relocate, Atlanta has remained ahead of the curve when it comes to home sales. James said Atlanta still shows more annual closings than any other market in the country."We have a very vibrant housing market here," he said.

Written by Ryan Crawford, Gwinnett Daily Post

2007-05-17T13:40:00.000-07:00

A Dozen Reasons to Buy New

1. Favorable Pricing – Competition among homebuilders makes new homes less likely to be overpriced. New homes are easy to compare with other new homes in the market equating value to value. All the homes are the same age and the options are listed up-front with the price breakdown for comparative shopping.

2. Simplified Financing – securing financing is the major obstacle to home ownership. Most homebuilders have done the legwork for you. They have researched the market and negotiated the best rates for their specific type of housing. Many homebuilders now include the closing costs in the price of their new home.

3. New Home Warranties – New home buyers are assured of at least a one year warranty on the home itself and most likely five years on major appliances including air conditioning and heating systems. Many of today’s homebuilders extend structural warranties for a full ten years usually underwritten by insurance companies.

4. Modern Appliances – Appliance manufacturers introduce new models every year and homebuilders are able to offer the latest state-of-the-art equipment at the time of completion of a new home. And, because the builder buys large quantities, the builder’s purchasing power can reduce the cost to the home buyer.

5. Homesite Selection – “Location, Location, Location.” Being able to select the proper homesite is almost as important as choosing the home to fit the buyer’s lifestyle. Developers and homebuilders offer a wide selection of sites including golf course locations, waterfront land, rural acreage and more.

6. Floor Plan Option – Builders of new homes offer a variety of functional floor plans to fit a buyers requirements. If it’s not an inventory home, the homebuilder provides the opportunity to eliminate or add rooms, upgrade materials, include new architectural detail and generally customize the home.

7. Latest Material – Low maintenance is one of the most important features of a new home built today. New technology in building materials has made homes in the 1990’s virtually maintenance free, especially the exterior. No longer does a homeowner have to worry about painting every 3-5 years.

Check out our New Homes Communties

Sawnee Creek, Cumming, Georgia

Alcovy Bluffs, Monroe, Georgia

2007-04-24T11:30:00.000-07:00

Atlanta Real Estate Market Stats!

The current statistics for the North Atlanta market are as follows:

County Days on Market Sale price/list price average price

Gwinnett County 90 97.59% $390,951

Forsyth County 106 97.31% $348,822

Walton County 96 97.42% $275,118

What does this mean? The market in Atlanta for the first quarter of 07' is holding steady. Our number of days on the market compared to other areas of the nation are far superior! Sellers are not giving less then a 3% on average cut in price!

What a great time to buy real estate in Atlanta! What a great time to buy real estate in Atlanta!

2006-12-15T11:41:00.000-08:00

Best moment this decade to buy a home
It's ho-ho-house-hunting season, the time when homebuyers can drive the best bargains. And this month is likely to be better than any recent December.By Marilyn Lewis
How to sell in a homebuyer's market
For sale: Houses for as little as $10
Is an open house a waste of time?
You're making your list; you're checking it twice. You've got your holiday shopping pretty much under control. But . . . wait.
Put this on your list: a new house. December is for house hunters what the day after Thanksgiving is for retail shoppers, a time for some of the best bargains of the year.
For homebuyers, that's because there's so little competition in December. Most everyone is focused on family, friends and celebrations, not on buying a home. Nationally, January 2005 saw roughly half as many deals recorded (they were negotiated in December) as in April, reports the National Association of Realtors. Sellers, particularly those with property on the market for more than a few months, want to sell before the year ends.
The December advantage
This December, buyers have additional leverage. "Sellers are more willing to compromise than at any time in the decade," says Walter Molony, a spokesman for the Realtors group. "During the (2001-06) housing boom, the seasonal benefit went away because there was a persistence of tight inventory problems, and sellers weren't motivated to make concessions."
With the boom over, it's a buyer's market again in December. Here's why:
The boom -- fueled by easy credit, low interest rates and, in many places, a shortage of housing -- resulted in overbuilding. Now there's a glut of new homes in some places, particularly in parts of Florida, California and Arizona.
Speculators who entered the market late hoping to flip property for a quick buck are dumping houses and condos, especially condos, on the market.
Though the market has been cooling for months, sellers have been reluctant to drop prices, apparently still hoping for the killings they might have made a year ago. By now, they may be reconsidering.
Buyers, reading about real estate prices dropping nationally, are pressing sellers to negotiate, even in strong markets.
Home values are softest in economically hard-hit cities and towns in the industrial Midwest. For most of the rest of the country, the rate of price growth has simply slowed way down from what it was before.

2006-10-28T10:22:00.000-07:00

Atlanta Housing Market- 32% gain in 10 years- Forbes magazine recently came out with the hottest real estate markets naming Atlanta in the Top 10! Not all of the U.S. cities are experiencing a current real estate slowdown. What is happening in Flordia is not what is occuring in other cities. Forbes magazine named Atlanta as earning a 32% gain in the next 10 years. Today in Atlanta the median house price is $172,722. In 2016 predications are the median house price will be $227,488. Reasons to move to Atlanta. Atlanta has great job opportunites and housing costs are below the national average. So get moving! *source Moody's Economy.com

2006-10-28T10:21:00.000-07:00

3 Simple Steps to Reel In Buyers
Think like a potential buyer and your mission becomes clear, an expert renovator says. That means fixing what can be seen (or, ugh, smelled) first.By Bankrate.com
The single most cost-effective investment you can make to increase the value of your home is to buy a roll or two of plastic trash bags. Stuff them with junk outside the house -- from beer cans to raked leaves.
Nothing could be more common-sense than cleaning up the yard and exterior, right?
"You'd be surprised at how many people don't recognize the importance of doing these kinds of items," says Steve Berges, a real estate investor in Michigan who buys dilapidated houses, fixes them up and sells them for a profit. His advice: When renovating a house or preparing it for sale, spend money on things a buyer can see.
Any successful investor is adept at spotting hidden value, buying low and selling high. That's what Berges does when he scouts properties, generally houses 20 to 70 years old. "One of the things that we like when we drive up to a house is what we refer to as high 'Yikes!' appeal," he says. He defines "yikes appeal" as the state of a house in which a normal person would drive up, say, "Yikes!" and keep on driving.
What a 'Yikes' house looks likeA house with high "Yikes!" appeal has weeds, a boat parked in the front yard and an old car transmission on the side of the house, nested amid beer cans. A rain gutter hangs down. Overgrown shrubs obscure the front windows, creating a dreary interior. People actually try to sell their homes in such condition, creating opportunities for bargain-hunters.
Working the other side of the equation, Berges has written a book called "101 Cost-Effective Ways to Increase the Value of Your Home."
The book lists various kinds of exterior and interior improvements (improving the porch, replacing kitchen cabinets) and ranks each project's "impact value." A one-star impact value means the project won't add to the home's value and might actually lower it; a five-star impact value means the project could potentially add $1.50 or more to the home's price for every dollar spent.
A lot of money is at stake. Homeowners spent $166 billion on home remodeling in 2001, according to the Harvard Joint Center for Housing Studies. More than three-quarters of that was spent on what the Joint Center calls improvements, with the rest going to maintenance and repairs. Another $48 billion was spent on the remodeling of rental properties. Researchers credit the $214 billion in remodeling for preventing the economy from dropping further into recession in 2001. More money was spent on remodeling than on clothing that year.
Researchers discovered that 6.3% of remodelers spent more than $20,000 on improvements in 2000-2001 and 2.7% spent more than $35,000. Much of that was targeted toward fixing up kitchens and bathrooms.
Protect, improve, appreciate"Families that spent more on home improvements also realize the greatest rates of price appreciation," the Harvard study said. "In many regions of the country, homeowners recover as much as 80% to 90% of the cost of home improvements in the form of higher home values. Little wonder, then, that homeowners spent almost $2,300 on average in 2001 to help protect and improve their most important financial asset."
If you're getting ready to sell a house, you want to be among the homeowners who recover 80% or more of their investments in the form of a higher price. Berges says the key is thinking like a buyer. And what do buyers do? They drive up to a house and look at it. If they're not repelled by what they see, they step inside and look around.
Based on that typical experience, Berges formulated the following guidelines:
Spend money on what can be seen vs. what can't be seen.
Fix up the exterior first, then the interior.
Focus first on what Berges calls the "Yikes!" appeal -- clutter, trash and bad smells that drive down a home's value.
"Visibility adds value," Berges says. "The improvements that are most visible are the things you need to focus on."
What you see is what pays offThis means that, if you have $10,000 to spend, and you can either spend it all on a new roof or all on repairing a cracked foundation (but you can't do both), you should replace the roof because it can be seen. Whatever your budget, put a higher priority on improvements that can be easily seen, because those give you the best bang for the buck.
"People expect the foundation, plumbing and wiring to work," Berges says. "If they don't, they detract from value. But fixing them to bring them up to code doesn't necessarily add value."
Because an unkempt yard and ugly exterior can cause prospective buyers to drive away without going inside the house, you should work on those first. Clear up clutter. If you want to, hire day laborers to remove that old engine block in the driveway and reattach that rain gutter that fell two years ago and has been lying by the side of the house ever since. Then concentrate on landscaping. Prune hedges, trees and shrubs, especially if they obscure the front of the house. Paint. If the roof is dirty, hire someone to power wash it.
From the curb, "the roof takes up 30% of what you see," Berges says. "If you have a nice-looking roof, that goes a long way in curb appeal for the house."
Cut clutter, cleanMaybe you notice that Berges isn't recommending that you break the bank -- just that you spend a little time and money to make the place look better. You should do the same inside the house -- reduce clutter and clean everything. If you own a pet, invite a non-pet owner inside the house to sniff around. You might be inured to the smell of your Weimaraner's urine, but the stench could make a buyer retch.
When Berges buys a house that he intends to fix up quickly and sell, he almost always has the interior repainted wall-to-wall and has the carpets and vinyl flooring replaced. Once, when he and his wife sold their own home, they didn't replace the carpets and they regretted it.
"We thought that by offering a flooring allowance, a family could move in and select their own flooring," he writes. But he discovered that buyers don't want to select their own flooring. He already had bought a house and didn't want to be stuck with two mortgage payments, so he unloaded the old house quickly, for $10,000 less than he thought it was worth.
Deal with the hassle, keep the profit"For half that amount we could have replaced all of the flooring and sold the house for its market value," he ruefully writes. "People don't want to fool around with painting and replacing carpet and fixing the house up. In the world of fast food and instant gratification, people just want to buy a house and move in."
Berges's book is geared toward middle-class homeowners. On the upper end, buyers expect well-kept yards and painted walls, of course, but they often yearn for amenities that middle-class people might not expect. For example, one of the hot trends in the Hamptons on Long Island, says architect Marcia Previti of Gillis Previti Architects, is for two dishwashers in the kitchen. "You might reserve one for glassware and one for pots and big dishes," she says.
Adding a second dishwasher might be a sound investment in the Hamptons or in Beverly Hills, but it would be a waste of money in Toledo or Peoria. Berges's final piece of advice is to keep up with the Joneses, but "you don't want to overimprove."
Berges lives in a neighborhood of concrete driveways. A neighbor recently spent $28,000 replacing a concrete driveway with brick pavers. In a high-end neighborhood, that would be a cost-effective use of money, but Berges's neighbor won't come close to recouping the cost of installing the beautiful driveway.
When you're trying to decide how to spend remodeling money, Berges recommends seeking the advice of an experienced real estate agent who is familiar with your neighborhood. A licensed appraiser should be able to provide guidance, too

2006-10-28T10:19:00.000-07:00

2006-09-29T11:13:00.000-07:00

RE/MAX ballon spotted by my son Ray Joyner and his friend's The Gross'!
This week my 13 year ols son spotted the RE/MAX balloon with his friends. He and The Gross' took these amazing photos for me! Thanks!

2006-09-29T10:41:00.000-07:00

Larry Munson , the voice of the Georgia Bulldogs visits Alcovy Bluffs! Mr. Munson was greeted by many Dawg fans August 27, 2006 to celebrate the being of the football season and grand opening of Alcovy Bluff''s 3rd phase. Alcovy Bluffs is located in Walton County on 270+/- acres. Developer Lou Camerio has created a timeless community with large 1/2 acre plus wooded lots, executive homes with many features and a community with swim, tennis amenities. Please visit our decorated model home. Call Kristin Joyner or Margo Barnes, sales associates with RE/MAX Greater Atlanta, at 770-963-5181 for more information.