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Market Trends Category

Rory, gotta love the humble superstar!

It was golf at it’s finest.  Rory yesterday in the PGA tour just walking away with the lead with incredible golf, full composure, and humility.   We all love a humble superstar, they don’t come around very often, and when it does, especially in golf, it is a nice change.

I think its the same in real estate, in the boom years of the market, many agents did not have to do anything for their clients and homes would sell. Today agents that are active and making a full time living in the market we have had since 2007 are some of the best in the business.  The others got out when times got tough and it wasn’t easy anymore.

I never knew the boom times, the “easy” market, where anyone could be a superstar.

Honestly, I felt the same way about agents that probably many of you did at the time as well. They make too much money for the effort they put in. They don’t know what they are doing and worst of all they seem a bit arrogant.

I really believe that I am a better agent for you because I have been successful in a tough market, I understand this market and it’s very cool now because it is starting to turn—finally.

I am excited about what I am seeing out there and it is a happier news when I am talking with sellers these days.  If you are thinking of moving, call me today, I promise to be humble and honest with you, not arrogant or all knowing, I will listen to your needs and advise you on how I can help you in this transitioning market place to help you benefit the most.  It’s not about me, it’s about you!  Call me today at 770-354-0243!

 

 

 

Positive News in Atlanta Real Estate as 2nd Quarter Stats are in!

Here we are in August and the numbers from the end of 2nd quarter are in and they are the best we have seen in a long time.

The overall Atlanta market is better than this time last  year and part of the reason is that inventory levels are the lowest they have been since 2008.

 

 

 

 

 Other Highlights from June 2011 to June 2012

There has been an increase in sales of 13.1%  and Distressed Sales were lower at 44.7% of  sales BUT they were a whopping 74.6 % of sales in the 100K and under price range.

Median Sale Prices increased by 5.9%

Median days on market down -27.3% to 80 days

Supply decreased by -42% and 4 months of supply in June 2012

Homes that are non distressed priced below 500k are now in a sellers market.

Will this last? It’s hard to tell,  if banks release too much foreclosure inventory into the marketplace slowing down sales and keeping prices low then it may reverse some of our recent positive trends. However with interest rates at incredibly low rates and prices at very affordable levels, may buyers will continue to purchase  homes at one of the best times in history, which is great for sellers and buyers!

If you are thinking of moving give me a call at 770-354-0243 or email me  to get you started or just simply click the link above to search for homes.

We have buyers in Atlanta who can’t find homes, time to sell yours!

Yes it’s true.  There are areas of Atlanta that are short on inventory and we need your home to sell!!

Specifically, East Cobb, Johns Creek, Sandy Springs and Dunwoody, Buckhead.  We have buyers right now that would like to buy but the inventory levels are low and there are few choices.

 Inventory levels are down in all of Atlanta by 50% from this time last year.  We have a nice window of opportunity right now for sellers, don’t miss out!

So, call me today  at 770-354-0243 to discuss selling your home! Even if you are “underwater” we can help you with the short sale process.

 

 

 

Will homes ever return to the bubble values?

The market is doing better now, inventory levels are down so there fore homes are selling.  This is great news for sellers, but some sellers are still having a hard time with the value of their home today.  Homes are selling but prices have not increased yet, and in my opinion it will be a while before they  do increase.  I don’t have a crystal ball but we may see values increase slightly over the next few years but it will never be again the peak of the “stinky ” loan era.

So if you are thinking of selling, now is the time, this is a nice window of opportunity where interest rates are low, inventory levels are down 50% from this time last year and you have a much better chance of selling fast and for top dollar.  Call me today to get your home sold and then you can take advantage of this market for your purchase!

Sellers asking prices in Atlanta were up in May!

Sellers in the Atlanta area saw a 2.5 % increase in May from over a year ago.  This is directly related to the number of homes available for sale in the Atlanta area.  Sellers are feeling more confident these days to go ahead and get their homes on the market.   According to Wall Street Journal article, unsold inventory is down and prices are up slightly.  Read more here.  It is nice for sellers to have this news, its been very hard on sellers the last few years in this buyers market.  However with that being said that no matter what the market is, the homes in the best condition, staged and ready for market and priced right will sell fast in any market. I can show you how to do that.  Beat the competition and get sold quick for the highest dollar possible.  Call me today 770-354-0243 or email me to get started.

150 Million Dollar Starter Home? For these young women –Yes

These two Heiresses  Petra is 23 and the oldest is 27, are Formula 1 Racing boss Bernie Ecclestone  daughters.  They are spending their trust money to buy up some of the most expensive ultra high end luxury real estate on the market.   Very interesting,  well when you have it all at 23 and 27 , what do you have to look forward to on your “move up” home. 🙂   Take a look.

15 Year Mortgage Rates hit all time low, 3%!!

If you have been putting off buying a house, do it now! Mortgage rates hit an all time low this week which means you can afford more house for the money!

I cannot stress enough if you have been on the fence, now is the time to get off! It is time to take advantage of the best market to buy real estate in decades.

Call me today at 770-354-0243 or email me and lets get started on your home search today! And if you are thinking of selling, it is a great time, inventory levels are lower and buyers are ready to buy!

 

The Stats are in, We are in a Changing Market!

The 1st quarter in real estate was the best quarter in 4 years.  The numbers are showing that it looks as if we hit the bottom of the market in January 2010.

Inventory levels are down 30 % over this time last year!  Less homes for sale creates more demand and homes are selling faster.  In one price point –under $200,000  in all areas of metro Atlanta we are officially in a sellers market! This means that we have less than 4 months of inventory on the market and buyers are actually competing for homes!

There are pockets of Atlanta such as the Walton High School district that is in a sellers market from  under $500, 000

Another interesting stat is that short sales now make up 26%  of the market and foreclosures are down and represent 16% of the market.  Distressed homes represent 42% of the market overall, this is across all areas of metro Atlanta.

What does all this mean to  you?  If you have been thinking about selling, now very well be the time.  And if you are a buyer, there is going to still be  a window of opportunity to get some great prices and interest rates are at an all time low.  However this window will be closing, buyers have been on the fence for a long time and it will not last.  This market is in transition and then it will seem a slow one at first and then before you know it, buyers will be COMPETING  for houses.  So don’t wait, get into this market today.  Call me at 770-354-0243 if you are thinking of buying or selling, we can discuss your goals and see if this is the right time for you to sell or buy!

Don’t wait, Warren Buffett  says In the business world, the rearview mirror is always clearer than the windshield 🙂

Strategic Default–Technical term for Walking Away!

More and more homeowners today are choosing strategic default as a strategy to get out of a home that is underwater.   They are usually people with high credit scores and have always paid their bills on time…but…they cannot see that they will ever recover the value in their home and owe much, much more than it is worth.  They generally want to try the short sale route as opposed to foreclosure, the short sale may hurt their credit for 2 years but foreclosure can hurt their credit for 5 or more years.  However the wealthiest of these  homeowners really don’t need the credit rating for a  while, they have plenty of cash to buy that car, or other items that many people borrow to buy.

Reuters had some points on strategic defaults– read the full article here. Below is an excerpt from it.

1. Look to it as a last resort, not a first option. Your financial troubles could be alleviated with a simple refinancing, especially since 30-year mortgage rates are near record lows of below 4 percent. If the banks are hesitant to rework your loan, look into the number of government programs designed to keep you in your home, which can be researched at MakingHomeAffordable.gov.

2. Location, location, location. Each state has its own rules and regulations regarding foreclosures, which affect both the length of the process and what you could be liable for in the end. In so-called ‘non-recourse’ states like Arizona, California and Texas, a lender cannot come after you for any deficiency (for instance, if your mortgage was $300,000 and they’re only able to sell the property for $200,000). In other states they can pursue the difference, in theory – which is why some homeowners opt to file for bankruptcy, to free themselves from those potential obligations as well.

3. Use the interim to save like a demon. If you’re in a state like New York or Florida, which require a judicial review of every foreclosure, it might be a couple of years before you actually have to pack up. In the meantime, be extremely disciplined about stockpiling cash. That will help you with a down payment for a rental, to pay for a car in cash if you need to, or to clear up other debts you might have. “Save money as if you were still paying the mortgage,” says Archer. “If you don’t, then you’ll run out of both time and money, and then you’ll be in a real tough spot.”

4. Know the tax implications. Historically, if you have a debt that’s forgiven, the canceled amount is considered taxable by the IRS. In the wake of the housing bust, though, the Mortgage Forgiveness Debt Relief Act was drafted to spare you those taxes. That legislation expires at the end of 2012, though – so if it’s not extended, you could potentially face a tax bill for the difference.

5. Talk to a professional. A bankruptcy or real-estate attorney can help you through a very tricky process. The National Association of Consumer Bankruptcy Attorneys, for instance, has a searchable database of lawyers at www.nacba.org.

“Strategic default is not an easy decision, and there’s a cost either way,” said Gerri Detweiler, director of consumer education for Credit.com. “Would you rather be $200,000 underwater, or would you rather have seven years of damage to your credit report? It depends whether you’re finally at the point where enough is enough.”

Under 150K homes in North Atlanta area are selling fast!

The market for homes at great prices under 150 thousand dollars is brisk!   Very often there are multiple offers and buyers are competing for these homes.

 Why? Because investor buyers are almost 40% of that market who are purchasing and 1st time home buyers are realizing that it is now the time to buy rather then paying rent !

The advantages of home ownership outweigh paying rent.  If you are 1st time home buyer and you purchase at this incredible time of low home prices AND low interest rates, you will be the envy of all your friends in a few years.  Your house payment could be Lower than rent and you will gain equity in your home over time.  You have to pay for a place to live whether you rent or own, so why not have it be your own.

If you are an investor or a buyer in this market, give me a call today  at 770-354-0243 or email me and I will help you find the best deals out there in this hot and demanding price point.

You can get your portfolio going of rental properties that pay positive cash flow, and let the renters pay down the mortgage, and when we have a recovery you will have equity from both the pay down on the mortgage and appreciation.  Small houses rent the best, and are better than townhome or condo investments because condos and townhomes compete with apartment complexes for renters.  Single family detached homes rent faster and stay rented.

See below a list of current homes in the Marietta/Roswell areas of homes for sale.  Call me  at 770-354-0243 or email me at [email protected]  if you would like more info or to visit them

 
$150,000
Beds: 3
Baths: 1
Sq. Ft.: 1,254
 
$130,000
Beds: 3
Baths: 1
Sq. Ft.: 999
 
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FMLS data last updated at November 22, 2017 11:08 AM ET