Great new information on No Tax Credit, No Problem, with current interest rates at all time lows, this far out weighs the benefits of the tax credit. The home buyer is the clear winner in this market with getting rock bottom prices, and rates as low as 3.5% int.
Call today to get your spot of real estate, and make it a win, win.
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| This Month in Real Estate August 2010 …………………………………………………………………………………………………………………………….. Market Update
Consumers are saving more and being picky about how they spend their money. While a higher savings rate means less spending in the near term, this is a positive sign that households are taking control of their finances to build some cushion that can be used to pay down debt and/or support future spending. Existing home sales marked the twelfth consecutive month of year-over-year increase in June. On a monthly basis, sales activity eased 5.1% from May. The moderation in home sales reflects “understandable swings as buyers responded to the tax credits,” according to Lawrence Yun, NAR chief economist. He anticipates such impact to show up in the next two months.
June’s median home price increased for the fourth consecutive month. Distressed homes, accounting for 32% of sales last month, continued holding home prices at highly affordable levels for the time being. While distressed sales hovered around the same level as a year ago, the gain in home prices is pointing to a sustained stability in the making. Interest Rates Mortgage rates set a new record low in July as consumer confidence softened and unemployment remained elevated. This presents a great opportunity for buyers and investors. Coupled with lowered home prices and a robust rental market, investors are finding their way to cash-flow opportunities. As recovery gains deeper roots, rates will need to rise to keep inflation in check.
Rates as of August 6.This Month’s Video
Topics For Home Owners, Buyers & Sellers
Consumers Beware: New Credit Card Tricks
On May 22, 2009, President Obama signed into law the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009, marking a turning point for American consumers and ending the days of unfair rate hikes and hidden fees. While the new law offers significant safeguards, consumers still need to be vigilant against new practices designed to outflank the new rules. Stay as informed as possible, read your statement , report any irregularities immediately, and watch for these tricks.
Source: The Wall Street Journal |
Contact me, your local real estate expert, for information about what’s going on in our area. Scott Dilbeck 404-861-6623 Newsletter Contents 1. Market Update 2. Interest Rates 2. Video 3. Topics for Owners, Buyers & Sellers |
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Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate. |
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There are many factors that go into arriving at the best decision for whether or not this is the best time for you to sell. Depending on whether you can move up into a larger home now and get it at a real deal, and how much you owe on your home versus how much you can sell it for. The homes in the northern metro counties of the Atlanta, GA market seemed to have stabalized on price decrease, and they are many unbelievable deals on new homes, townhomes, condos, and re-sale homes. You must also factor in the condition of the home and whether or not it has been updated, since buyers want the home to be in great shape, but a rock bottom prices. Please call me anytime for a FREE evaluation of your home value, and help you make the decision of whether to sell, short sale, or wait on the market to return.
Jobs in Georgia have been slighlty picking up this year, as they are expected to keep increasing as we head in to 2011. The real estate market has seen an increase in sales during the first quarter of 2010, and prices seem to be holding steady. One of the best websites for job searches that I have found is:
Many real estate owners these days are weighing the heavy hearted decision of whether to short sale their real estate, or just walk away from the property. Here are some of the facts that may help you make the best decision. A Short Sale will more than likely negatively affect your credit, but not nearly as much as having a foreclosure on your credit rating. As you watch the value of your real estate investment decrease, and buyers in short supply, I suggest consulting with a real estate professional who has experience in foreclosures and short sales to help you make the best decision. Many Banks and Mortgage Companies are more than willing to work with the owner on a Short Sale, but it does take an experience real estate professional to get the job done. There are endless mounds of paperwork and seemingly many long phone calls to the mortgage companies and banks, which all has to be coordinated through a real estate attorney to complete the paperwork that the bank / mortgage company will require. I will be happy to help you with any of your real estate concerns when you contact me.
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Back To Basics & Paying Attention Is The Key! Gary Keller Audio Interview With KW Mega Real Estate Agent Tom Daves
Keller Williams Realty Family Reunion 2010 Live Update on KW Blog – Wednesday Wrap-Up
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Make a BOLD Move with KW MAPS Coaching & Masterminds
Make a BOLD Move with KW MAPS Coaching & Masterminds
What would your business look like if you could make 100 contacts in a week? What would your life look like if you could list 16 new homes in two weeks, close on three or have an $80,000 week? That’s exactly what associates are experiencing in the seven-week BOLD Program from MAPS Coaching.
BOLD stands for Business Objective: A Life By Design. The goal of the program is to help you to align your mindset and your skill set into a conscious set of behaviors that will position you to best achieve your goals and desires.
Changes Announced on January 20
MI premium rates:
Will increase the upfront rate from 1.75% to 2.25% — effective April 5, 2010
Will reduce maximum seller concessions from 6% to 3% — effective in early summer 2010
***Please notice that the seller contributions have not changed as of now. You can still ask for up to 6% in seller contributions. It states that this will change in the early summer of 2010.***
Please call or email me with any questions regarding the upcoming changes, and the urgency to buy your home now.
If I wait for that $400,000 house to come down to $350,000, could I be risking higher payments? Why yes, you could…..and why?
- $400,000 mortgage @ 4.5% = $2026.24
- $350,000 mortgage @ 6.0% = $2098.43
Does this ever happen? It’s what we are watching buyers do right now!!
See the attached Spreadsheet and tell us your thoughts.
| Should we wait for prices to go down or rates to go up??? | ||||||
| Loan Amount | 4.50% | 5.00% | 5.50% | 6.00% | 6.50% | 7.00% |
| 100,000 | $506.69 | $536.82 | $567.79 | $599.55 | $632.07 | $665.30 |
| 150,000 | $760.03 | $805.23 | $851.68 | $899.33 | $948.10 | $997.95 |
| 200,000 | $1,013.37 | $1,073.64 | $1,135.58 | $1,199.10 | $1,264.14 | $1,330.60 |
| 250,000 | $1,266.71 | $1,342.05 | $1,419.47 | $1,498.88 | $1,580.17 | $1,663.26 |
| 300,000 | $1,520.06 | $1,610.46 | $1,703.37 | $1,798.65 | $1,896.20 | $1,995.91 |
| 350,000 | $1,773.40 | $1,878.88 | $1,987.26 | $2,098.43 | $2,212.24 | $2,328.56 |
| 400,000 | $2,026.74 | $2,147.29 | $2,271.16 | $2,398.20 | $2,528.27 | $2,661.21 |
| * Payments are all calculated on a 30 year fixed fully amortizing loan. | ||||||
Scott Dilbeck
Keller Williams Realty
First Atlanta
Direct: 404-861-6623
Fax: 770-783-2059
website: www.scottsrealty.com
Like New, Craftsman Style home in Woodstock, GA. with spacious open floor plan, granite kitchen counters, with island and pantry. Open family room with fireplace, private fenced backyard, in great location in Woodstock, GA.
http://www.realtor.com/realestateandhomes-detail/205-Ascott-Ln_Woodstock_GA_30189_1114575680
Here is an update on the First Time Homebuyer Tax Credit Extension.
Congress is working on a plan to extend tax credit support to homebuyers. The new language in the Senate would allow homeowners who have lived in their home for five of the past eight years and who earn $125,000 or less for individuals or $225,000 for couples to receive a $6,500 tax credit. First-time homebuyers would still be eligible for an $8,000 tax-credit. The tax credit would apply for homes under contract by the end of April, although buyers would have until the end of June to close on the purchase.
The Senate is expected to vote on this measure by the end of the week. The House, which would have to approve the measure before sending it to President Obama for his signature, is expected to take up the measure next week.
Housing activity continues to remain above year-ago levels despite some setbacks resulting from the now-expired tax credit. Improved stability in home prices with similar levels of distressed properties seen last year offers a hopeful sign the market is holding its ground. However, the economy still has a considerable way to go to achieve its full recovery. 
