Georgia continues to attract and bring new business to our great state with all that Georgia has to offer. Cherokee County, GA is undertaking an expansion of the Cherokee County Airport, with terminal and expansion on the end of the runway. Please visit http://www.cherokeega.org/airport
for more information.
Now is the time to get the best of both worlds, lowest prices in Real Estate, lowest interest rates, and First Time Home Buyer Tax Credit of up to $7,500. if you buy before end of June 2009. Prices are expected to climb back up some in the spring, so do not delay on getting rock bottom prices on foreclosures, new homes, and condos in GA.
I hope this finds you and your family well this holiday season. As we close
out 2008 I wanted to take just a moment to thank you for making this unusual year in Real Estate a successful one for www.scottsrealty.com As we kick off 2009, I wanted to give you some food for thought.
In case you had not heard, on Tuesday the Federal Reserve lowered its key
interest rate to 0.25% — the lowest level ever “MSN”. Several banks have
announced they are lowering their rate to 3.25% in light of the Fed’s
decision. Typically the prime rate is 3 percentage points higher than the
fed funds rate ”CNN MONEY”. This will trickle down into mortgage rates
soon resulting in historic low mortgage rates.
For you as a homeowner or an investor this means the time to buy is now. If you are not in the market to buy you should at least consider refinancing
your current mortgage at a lower rate. In the words of Donald Trump, “Buy, Buy, Buy, now is the time to Buy” House prices are at there lowest and the fed just cut the rates. Pool your money, borrow from your family talk to your accountant, whatever it takes, get in the game now!”
Take a minute to give me a call, I am available discuss an approach that
makes sense for you. Together we can make 2009 the year you move form
working for your money to the year you start making your money work for you!
I look forward to hearing form you soon, and Best Holiday Wishes,
Scott
Home values may be falling nationally, but they are rising or at least holding steady in many parts of Atlanta, two separate housing price indexes show.
Atlanta’s home values have inched up slightly since April, according to the S&P/Case-Schiller report, which tracks housing values in 20 metropolitan markets, including Atlanta.
And prices are up 0.2 percent over last year in Atlanta, according to the housing price index report by the Office of Federal Housing Enterprise Oversight.
“There’s not a correction, because there is nothing to correct,” said Jeff Humphreys, director of economic forecasting at The University of Georgia’s Terry College of Business.
Atlanta real estate agents say prices are holding steady especially in well-established Atlanta neighborhoods such as Buckhead, Peachtree Battle, Garden Hills, Druid Hills, East Cobb, Virginia-Highland, Morningside, Dunwoody and Sandy Springs.
Home values are decreasing in outlying counties that saw lots of new home construction and in areas where there was a lot of mortgage fraud, Humphreys said.
In the outlying counties with an oversupply of new homes, builders are likely selling at deep discounts that compete with existing home stock, he said, driving down values. Likewise, homes in foreclosure as a result of mortgage fraud are undercutting the values of neighboring homes.
Homes in established neighborhoods, inside the Perimeter, with short commutes are holding value, Humphreys said.
Georgia is not experiencing as much of the housing wealth destruction as other markets, such as Florida or California, he said. In those areas, prices are declining after a period in which prices rose as much as 22 percent a year. According to the most recent Case-Schiller report, home values are down 19.5 percent compared with last year. Las Vegas remains the weakest market, reporting an annual decline of 29.9 percent, followed by Phoenix, down 29.3 percent, and Miami, down 28.2 percent.
Atlanta, Dallas, Minneapolis and Tampa have shown improvements in their home values, the report said.
Since April, Atlanta’s home values have inched up, the report shows, but year over year, the Case-Schiller report indicates Atlanta’s home values have decreased 8.2 percent.
Humphrey’s believes the Case-Schiller database is too narrow and instead uses the report by the Office of Federal Housing Enterprise Oversight, which shows Atlanta house values rose 0.2 percent in the past year.
Those Atlantans with vacation or investment homes in Florida are seeing some housing wealth destruction “but not in the house they are living in,” Humphreys said.
The common thread for homes that seem to be holding their value is their location in older, established neighborhoods, real estate agents say.
The stats from the local MLS state that Pending Home sales are up, and the prices of Homes in Atlanta Ga, and the metro are rising slightly. Now is the time to invest, and also get the lowest interest rates. This is the best of both worlds, and this trend will not last.
We are currently working with several lenders that do have loan programs for 100% financing for your home purchase. In Georgia we are seeing incredible deals on foreclosures and short sales, and I am working with many banks that properties that are priced at unbelievable low prices. Please call me or email me to get your deal on a foreclosure today…404-861-6623 or scott@scottsrealty.com .
The real estate deals just keep coming, and prices are at an all time low. The challenge seems to be with finding the right lender, or getting the loan approved. I work with many sellers that offer financing on commericial real estate, and residential as well. The seller financing can vary from 10 percent to higher, and depending on the credit of the buyer. Please call or email today to get a FREE LIST of properties that qualify for seller financing, and lenders that will word to earn your business.
NEW YORK - U.S. stock futures pointed to a huge rally Monday as investors rushed to lay bets on a broad economic recovery following the weekend announcement that the U.S. government plans to bail out mortgage lenders Fannie Mae and Freddie Mac. U.S. stock futures jumped more than 2 percent.
Meanwhile, bond prices fell sharply as emboldened investors looked for riskier but higher-yielding bets.
The weekend announcement that the Treasury Department was seizing control of the companies, which own or back about half the nation’s mortgage debt, in an instant brushed aside persistent worries that the companies would be felled by a spike in bad mortgage debt. ( reported by Associated Press )
First-Time Home Buyer Tax Credit at a Glance
I have just listed a great new listing on Lake Oconee, in Eatonton, GA with Double Master Suites on Main floor, Full finished basement, updated Kitchen with granite and island, Double dock with two lifts and two jet ski lifts. This home will sleep 20 people comfortably and has oversized, large bedrooms. This home also offers a private fenced backyard with lake view, and dock view, and furnishings are negotiable with the purchase of this home at $850,000.