Atlanta Real Estate Market

REAL ESTATE FORECAST The housing downturn hit bottom and has started its turnaround, at least according to NAR's latest forecast. While the association has downgraded its forecast month-by-month for a while, the December prediction marks the first time since after the boom that NAR has predicted a short-term rise.

Alpharetta Georgia 30022 Homes

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Home Mortgages

There are non-traditional ways to get a mortgage, and evidence suggests they're on an upswing. Called "private-money mortgages," they have different lending standards and carry substantially higher interest rates and fees.

Alpharetta Buyers Agent

Buyers feel more comfortable working with an agent they know versus hiring a complete stranger, so wanting to hire a friend is understandable. They feel that a friend or family member will tell them the truth and look out for their best interests, but that type of situation can also create conflicts, in more ways than one.
Hiring a Friend or Family Member as a Buyer's Agent

The main problem is an agent who is close to the buyer might decide to save a friendship over delivering hard, cold facts.

Glen Abbey

Johns Creek Neighborhood Tennis Taken to Top Level

The 14 and under intermediate age group tennis team from Glen Abbey subdivision was thrilled to win top honors at the U.S. Tennis Association national championship in Tucson, AZ last month.

Home Warranties

With Home Buying and Selling, What You Can't See CAN Hurt You!!

We list our homes in Alparetta Georgia with a home Warranty

http://www.ahssales.com/

Great Way for Dinner Reservations

My wife and I use this all the time in Alpharetta Georgia. Try it sometime.

Restaurant Reservations:Instant, Reliable & Free.

http://www.opentable.com/start.aspx?m=16

Interest Rates

30 year fixed 5.500% 0 points
15 year fixed 5.125% 0 points
30 year fixed jumbo 6.250% 0 points
15 year fixed jumbo 5.750% 0 points
7/1 ARM 5.625% 0 points
5/1 ARM 5.500% 0 points
3/1 ARM 5.125% 0 points
FHA 30 year fixed 5.750% 0 points

As of 11/30/07

The Fed

The Federal Reserve's latest economic snapshot released yesterday finds that the housing slump and credit crunch has made consumers more cautious. But the Fed also suggested that it would again lower interest rates at its Dec. 11 meeting, sending stock prices higher.

Verizon Voyager - Should I buy one?

I'm thinking of buying the new Verizon Voyager. Anyone out there tried this new phone out yet. Please let me know what you think. I love Verizon Service but have never been too happy with their equipment, are they finally responding to consumer's desires on quality phones?

Great Rates Again

Current 30 YR fixed is 5.625%!!!! I am expecting a mid-day price change since the bond market is down 1 7/32 as I write this. But the good news is the rate dropped to 5.625% on a 30 YR fixed. Time to Buy again!!

Atlanta Housing Market

Georgia home prices remain stable despite perceptions
Believe it or not, your home is likely worth more today than it was a year ago.
Two recent studies have highlighted the strength of metro Atlanta housing prices, even as most other parts of the nation have seen price declines of up to 10 percent over last year.
The first study is the widely followed S&P/Case-Schiller Home Price Index, which claims to be the leading measure of U.S. home prices. It covers data through August of this year and shows declines in the prices of existing single family homes in 15 of the 20 metro areas surveyed. The area with the largest decline was metro Tampa, with a double-digit drop of 10.1 percent since August of 2006.
Atlanta was among the five gainers, but claimed less than a 1 percent increase over the period.
Areas reporting the biggest price gains were Seattle at 5.7 percent, followed by Charlotte at 5.6 percent. Portland showed a 2.8 percent increase, while Dallas squeaked out a gain of half a percent for the past year.
The Case-Schiller team of economists recognized in the 1980s that home prices tended to be "inflexible" downward. That's because many owners will refuse to sell at a price less than what they paid for a property.
This inflexibility is observed most strongly in residential real estate and has been shown to have a strong stabilizing effect on home prices.
In addition to Tampa's weak performance, home price drops were seen in Las Vegas, Phoenix, Miami and New York. In addition, both San Diego and San Francisco made the list of losers, leading to the conclusion that those areas hardest hit were the same ones that had experienced rapid price run-ups in recent years.
I suspect part of Atlanta's ability to retain even a minimum level of price appreciation is that our price gains over the past decade were modest compared with many parts of the nation. It seems that Atlanta's housing prices were fueled more by job growth and relocation than by the frenzy and speculation that drove some areas.
This conclusion is supported by a recently released study of America's metropolitan areas by the Brookings Institution, called Blueprint for American Prosperity. This study concludes that America stands in a position of economic strength, but that we need to leverage key assets such as innovation, human capital and infrastructure. The study suggests that these assets tend to concentrate principally in our nation's major metropolitan areas.
This study produced what it calls MetroNation Profiles, a sort of state-by-state review of the top 100 metropolitan areas, and gives statistics associated with those areas, highlighting the importance of these economic engines. In this study, metro areas often cross state boundaries.
For example, Georgia contains all or part of three of the nation's 100 largest metropolitan areas — Atlanta, Augusta and Chattanooga — which alone account for 60 percent of the state's population, 62 percent of the state's jobs, and 71 percent of the state's gross domestic product (GDP). All 15 of Georgia's metros constitute 81 percent of the state's population, 84 percent of the state's jobs, and 89 percent of the state's GDP.
It is a widely established fact that home prices tend to follow job growth, and if an area's prices are holding up well in the current real estate market, there should be a correlation with job growth. The good news is that the study found metro Atlanta to be ranked 10th in job growth among all metro areas nationwide, with some 67 percent of all jobs in the state being Atlanta-based.
Yet, the fact that home prices in metro Atlanta are up will come as a surprise to most Atlantans.
I conducted a completely unscientific poll over the past couple of weeks, asking everyone I talked with whether they believed home prices were up, stable, or down over the past year. Almost everyone was convinced that real estate prices were down significantly.
Stay tuned for the release of the Federal House Price Index coming up on Nov. 29. This report is a study of price movements based on a much larger sample of homes than the Case-Schiller Index, and includes both resales and refinancings through the end of September.

Negative Housing Reports Runs Risk of Becoming Market Reality!

Negative housing reports in the media have altered the public's perception of the value - and potential - of today's real estate market. When too many people share too many exaggerated messages of gloom and doom, market perception runs the risk of becoming market reality.

The truth is, there is still plenty of good news on the Georgia real estate market. When we hear consumers echoing the negative media reports, let's also consider sharing the following facts:

• Interest rates remain at historic lows; today's consumers are not battling the interest (or inflation) rates of the 1970s and 1980s.
• Conventional financing remains available to many, and FHA loans are on the rise.
• The value of a home typically doubles every 10 years, on average. How's that for a return on investment?
• Over the past 30 years, homes have appreciated an average of 6.6% per year, more than any savings account interest rate, and more than most CDs or other investment vehicles. And the return on the actual initial investment is even more significant when you consider that most homeowners invest only a small fraction of their home's total value in their down payment. That's the power of leverage.
• The average homeowner today holds 36 times the wealth of the average renter. Why? Keep reading below.
• 60% of the average homeowner's wealth rests in their home's equity. Homeowners who look at home ownership as a long-term proposition are the homeowners who most reliably build equity. So putting down roots with home ownership can be the most important step in building your financial foundation.
• Home equity is the largest single source of wealth for most Americans.
• Lastly, A house becomes a home. and that's more than an investment: it's a way to enjoy your life, and provide a stable environment for your loved ones.