Real Estate Forum
The Debt Ceiling Has Been Raised-How Does That Effect Mortgage Rates?
August 2nd, 2011 categories: Atlanta, BUYERS only, Real Estate Forum
With so much going on in the market with real estate and the government deficit, here is the latest update straight from our local Mortgage broker as of today. The Debt ceiling has been raised (being signed now)…it appears the short term affect (today!) is slightly lower rates.
As we see the fallout over the next few days we’ll have a better idea of the affect on the economy. A debt downgrade may impact confidence which in turn may impact rates…we will see how this plays out. The stock market certainly is not helping as the DOW continues its week long downward trend now below 12,000 points.
30 year Fixed: 4.250%
15 year Fixed: 3.375%
30 year FHA: 4.250%
5/1 ARM: 2.750%
7/1 ARM: 3.250%
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Forsyth County Census 2010 Finds Cumming Georgia Is A Real Winner With Home Owners!
March 22nd, 2011 categories: BUYERS only, Cumming, Forsyth County, Real Estate Forum
United States 2010 Census
The Georgia New Census Data has recently been released. Of all the Cities and Counties,
the City of Cumming is really getting the buzz.
According to the 2010 Census, 175,511 people are calling Cumming GA home in 2010. That’s up over 78% percent from the last Census in 2000.
A lot of people did not realize the general growth of Forsyth County, in relationship to the other North Atlanta GA Cities, and now we do.
Feel free to visit the local resources from 11Alive News Website as well as a USA Today link about the status of the United States in General.
More About Data In Forsyth County/Cumming Georgia
More Neighborhood Homes For Sale In Cumming GA
More Data About Georgia Growth and 2010 Census Information
USA Today Data-Census 2010 GA+
Cumming Georgia’s Most Requested Neighborhoods / Communities, At Time Of Post
1) Creekstone Estates
Homes For Sale In Creekstone Estates
2) Polo Golf and Country Club
Homes For Sale In Polo Golf & Country Club
3) Windermere
Homes For Sale In Windermere
4) Vickery
Homes For Sale In Vickery
5) Arcanum Estates
Homes For Sale In Arcanum Estates
6) Creekside
Homes For Sale In Creekside
7) Three Chimneys Farm
Homes For Sale In 3 Chimneys Farm
8 ) Legends
Homes For Sale In Legends Of Settendown Creek
9) Bethelview Downs
Homes For Sale In Bethelview Downs
Henry Ford Gravitt, the Mayor of Cumming GA, has been Mayor since 1970 and in public service for 45 years. He has been quoted saying “They realized that Cumming and Forsyth County is a great place to raise a family.””Residents chose the area of Cumming due to its schools, parks and cultural arts.”
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Real Estate Has Turned A Corner! Have We Finally Passed “Rock Bottom”?
March 8th, 2011 categories: Deborah's Scrapbook, Month to Month, Real Estate Forum
I thought it might be just our North Atlanta Home Team, as our business has been very active for the first two months of the year. Clearly there are some indicators out there that show the Real Estate Market in the North Atlanta, Alpharetta, Milton Georgia area, may truly be turning the corner.
The Mortgage Bankers Association has reported that the amount of mortgage holders who were behind on their monthly payment dropped to the lowest level in two years during the end of 2010. Home Loans considered three or more months past due have drastically come down from the all time high of over 5% at the beginning of 2010, to just over 3.5% at the end of 2010.
Even though I didn’t major in Economics, the above shows me that more people are able to make their payments on time, and therefore, an improvement in the economy. It also dictates a future drop in foreclosures, which coupled with short sales, has been one of the biggest issues facing the North Atlanta GA Real Estate Market.
If we start to see those numbers subside in the next few months, then we are truly on our way up!
Feel free to Visit Real Estate In North Atlanta GA at:
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Latest Signals From The North Atlanta Housing Market-Much Improved!
February 21st, 2011 categories: BUYERS only, Month to Month, Real Estate Forum, SELLERS only
I think we are finally turning the corner!
The National Association of Realtors
just reported that 78 markets have seen price gains in the fourth quarter of 2010 over the previous year.
Existing home sales are rising as well, up 15.4% from the third quarter of 2010.
Personally, I am also seeing the same changes here in North Atlanta GA. Our team’s business is up substantially from 1st quarter of 2010, including the volume of buyer’s that are looking to purchase.
Buyers – A Time To Move
If you are in the market for a home and have been sitting on the sideline waiting to purchase, I believe now is the time. It’s very difficult to predict the bottom, as no one knows exactly when it ends and the acceleration begins. When looking at the total market from the past few years, I am of the belief that the Milton, Alpharetta, Georgia market has stabilized as there is less inventory then the past few years with more buyers on the hunt for a home.
This doesn’t mean the market is going to increase 10%, but I do believe that the trend of home prices is now going to start creeping up once again. With interest rates still relatively low, you can find great values and purchase a lot of home for the dollar.
Sellers – A New Beginning
If you’ve been waiting to put your home on the market in the North Atlanta area, or had already listed it and it expired, you may want to take another look. We are slowly moving toward an opportunity for you to list once again, as you may be able to get back some of the value and equity lost from the past couple of years.
See How We Market A Home In North Atlanta GA
In my opinion, don’t overprice your home. In today’s market, approximately 80% of the listings in FMLS may be potentially overpriced. We are seeing 20% of the homes moving, and those that get a contract have typically been on the market for about 60 days. If your house is currently listed for over 90 days and you haven’t seen an offer, you may want to take another look at the market analysis for your neighborhood and home.
Remember, property is very local in nature, not just by city and state, but by neighborhood, and in some cases by block. This is one of the perks of working with your local real estate agent, and it’s all a free service. If you would like to get up to date data and home value, don’t hesitate to send me an email or give me a call. You can reach us at 678-628-8865.
I am very excited about what I am seeing early this year in the Milton, Alpharetta, North Atlanta Real Estate Market and I look forward to hearing from you in
“You Journey To Home”!
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Habitat For Humanity-Centennial Village-Milton Georgia Townhome Community
December 20th, 2010 categories: Fulton County, Real Estate Forum, Townhomes Only
Habitat For Humanity-Building Homes Around Georgia
Centennial Village Townhomes For Sale
Centennial Village is a Townhome Community located in the City of Milton off of Highway 9 in North Fulton County GA. These townhomes have been sponsored by many local businesses and completed by Habitat of Humanity beginning in 2008 to 2010+.
More City of Milton Townhomes For Sale
For more infomation on the work that Habitat for Humanity has completed, feel free to Visit:
North Fulton Projects Completed By Habitat Of Humanity
Centennial Village Milton Georgia Townhomes
Townhomes are available in Centennial Village through the local Georgia MLS (Multiple Listing Service) for an average price of $128,800.00 for a 3 bedroom, 2.5 bathrooms, at time of post.
Amenities, at time of post, are a community playground and H.O.A. fees, (Home Owner Association) are $50.00 a month.
Milton GA Townhome Community-Centennial Village
Directions: 400 NORTH TO EXIT 11. TAKE LEFT ON WINDWARD PARKWAY. RIGHT ON HIGHWAY 9. APPROX 1 MILE TAKE A LEFT INTO CENTENNIAL VILLAGE TOWNHOME COMMUNITY ONTO GENESIS WAY.
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Mortgage Interest Deduction May Disappear On Loans Over $500,000
November 20th, 2010 categories: Deborah's Scrapbook, Month to Month, Real Estate Forum
Presidential Commission recommending to reduce the $1,000,000 now allowed, to a maximum of $500,000.
The Federal Government is proposing that any homeowner with a new loan that is over $500,000, be only allowed to deduct the interest from their income tax up to a cap of $500,000. What this means is if you have a mortgage loan on a home for $750,000, you will not be allowed to take the interest deduction on the $250,000 balance, taking away one of the last remaining deductions for the upper income who itemize their tax deductions.
For More On How To Claim Home Mortgage Interest Deductions
“The mortgage interest deduction is one of the pillars of our national housing policy,” said Michael D. Berman, chairman of the Mortgage Bankers Association. The proposal wouldn’t affect the majority of mortgage loans, but it certainly would affect the resale of properties that are priced over $500,000, as the interest deduction incentive is a major reason why homeowners purchase high end, luxury properties. In addition, the draft also seeks to completely eliminate interest deductions on second homes and equity lines of credit.
To give you an idea of what this proposal could potentially affect, let’s take a look at the FMLS, which is the official real estate listing service for the 18 county Metro Atlanta area, which includes North Fulton, Milton and Alpharetta. There are currently over 32,000 homes listed under $500,000 and approximately 4,400 homes listed over $500,000, which is about 14% of the market.
To Search Georgia MLS Listings By Price, Interactive Map Or Foreclosure
As a RE/MAX Realtor, I have personally found that in the last couple of years, homes that are priced at $500,000 or less in the North Fulton, Milton, Alpharetta area are still turning fairly quickly. Home prices in the $750,000 range and up continue to fall in price and are definitely staying on the market longer. If you are looking for great value, you will find it in this higher price range, as homes that were once over $1,000,000 can be purchased with savings in the hundreds of thousands of dollars.
For More On The Limiting Mortgage Interest Deductions
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A Sad Day For Bowen Family Homes Builder
November 1st, 2010 categories: Builders & Architects, Month to Month, Real Estate Forum
Today, November 1st 2010, has opened up a new email of information, by yet another builder not being able to stay afloat in this real estate environment. Unfortunately, Bowen Family Homes, which was head quartered in Duluth, has officially closed October 29th, 2010.
A Bit About Bowen Family Homes:
Bowen Family Homes built single-family homes and developed suburban communities in and around Austin and Dallas, Texas; Atlanta; and Orlando. The company also developed town home projects. Prices of the homes typically ranged from $100,000 to $300,000 and up, and the company offered special customization options through its Selection Studio for homeowners to upgrade amenities.
Rudy Bowen founded the company in Atlanta’s suburbs in 1969. It was a family owned and and managed company by Rudy’s son David (CEO) and sons-in-law Mike Phelps and Tip Cape. The company was one of the top 50 home builders in the US, selling some 1,700 houses annually. It had offices in Florida, Georgia, and Texas.
Visit Bowen Family Home Communities Around North Atlanta
Please see below the info that Bowen Builders are currently posting on their web site.
Dear Friends,
Bowen Family Homes has ceased operations effective October 29, 2010.
The decision to close Bowen Family Homes after 40 plus years in the business has been a difficult one. Unfortunately, the market dynamics of the past few years have made it impossible for us to continue business.
On behalf of the Bowen family and the staff who have worked so hard to provide excellence throughout the years, we would again like to thank our customers, team members and allies for the support and success they have brought to Bowen Family Homes over the course of the past several decades. It’s been an amazing journey, and we appreciate your taking it with us.
Thank You.
Good Bye Bowen Family Homes.
In my opinion, you will be missed here in Georgia for your affordable neighborhood of homes and townhomes and we wish you great success in the future, as the Real Estate market turns!!!
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