National Open House Weekend
The weather will be beautiful, take a drive or a walk and see what these homes have to offer.
Sandy Springs
45 Marchman Drive, $649,900- 4 bedroom 4.5 bath. Complete transformation of a 50's ranch, all the upgrades and features you are looking for. Super location, Pool. Award Wining schools- Riverwood High School
5154 Timber Trail South, $445,000- 4 bedroom 3 bath. Updated ranch in High Point. Great floor plan, bonus rooms, finished terrace level. 2 car garage. Beautiful lot on quiet hidden street. 2 miles from Chastain park, Award winning schools- Riverwood High School.
570 Pine Forest $350,000- 3 bedroom 2 bath. Charming galore in Meadowbrook. On the cul-de-sac, rocking chair porch, Amazing deck overlooking private back yard and meadow. Hardwood floors, updated kitchen, bath, huge laundry room and double carport.
Avondale Estates
3405 Burdett Court- $299,900- 3 bedroom 2.5 bath. Absolutely perfect home in the Village of Avondale. Priced under market value. 10 ft ceilings on main, open floor plan, screen porch and deck. Magnificient master suite. Second floor laundry and garage. Check out the secret garden and pergola.
I hope you will come and see these beautful homes on Sunday.
Thanks
Kim
Friday, April 27, 2012
3 Housing Trends Emerging This Spring
3 Housing Trends Emerging This Spring
What can home buyers expect to face this selling season? An improving housing market has made it a different picture in many areas compared to recent years, housing experts say. A recent article at Bankrate.com notes some of the following trends taking shape in the housing market this spring:
1. Fierce competition.
Housing affordability is at record highs, due to falling home values and mortgage rates hovering near record lows. More buyers are taking notice and jumping off the sidelines. And mixed with sinking inventories of homes listed for sale, the competition is getting more fierce.
Investors are snapping up bargain prices, often in all-cash deals, which means greater competition for traditional home buyers too.
"Rents are going up, and as long as there are properties at the level where investors can get the positive cash flow, they will continue to invest," says Jed Smith, managing director of quantitative research for the National Association of REALTORS®. Smith adds that first-time home buyers, in particular, may find increased competition from investors in trying to snag some of the best deals on the market.
2. More renters show desire to become home owners.
Recent surveys have shown that buying a home nowadays is more affordable than renting. As such, more renters are finding home ownership more enticing.
The signs are already starting to show: About 59.5 percent of tenants recently surveyed say they intend to renew their leases this year, which is the lowest rate since early 2009, according to a study by Kingsley Associates.
3. Mortgages may be a little pricier.
Fannie Mae, Freddie Mac, and the Federal Housing Administration recently have raised their loan fees, which means home buyers can expect to pay a little more for their mortgage this spring.
"Those who don't have credit scores in the high 600s to low 700s may be forced to go the FHA route," says Ed Conarchy, a mortgage planner at Cherry Creek Mortgage in Gurnee, Ill. "And they will be stuck with the higher fees."
Buyers with smaller down payments can expect to pay more for FHA mortgage insurance premiums, which have risen to 1.75 percent of the loan total. Bankrate.com cites an example illustrating the higher fees: A borrower who takes out a $200,000 FHA loan will likely have to pay about $3,500 for mortgage insurance upfront. Prior to the increase taking effect, borrowers would pay about $2,000 for that same loan amount.
Borrowers with higher mortgages can expect higher fees too. The FHA announced that in June it’ll increase its annual insurance for mortgages more than $625,500. "A borrower who lives in a high-cost area and takes out the maximum $729,750 (which is the FHA limit for high-cost areas) will pay $912 each month in mortgage insurance alone," Bankrate.com reports.
Read about more trends expected for the spring selling-season.
Source: “5 Mortgage and Housing Trends in Spring 2012,” Bankrate.com (April 21, 2012
1. Fierce competition.
Housing affordability is at record highs, due to falling home values and mortgage rates hovering near record lows. More buyers are taking notice and jumping off the sidelines. And mixed with sinking inventories of homes listed for sale, the competition is getting more fierce.
Investors are snapping up bargain prices, often in all-cash deals, which means greater competition for traditional home buyers too.
"Rents are going up, and as long as there are properties at the level where investors can get the positive cash flow, they will continue to invest," says Jed Smith, managing director of quantitative research for the National Association of REALTORS®. Smith adds that first-time home buyers, in particular, may find increased competition from investors in trying to snag some of the best deals on the market.
2. More renters show desire to become home owners.
Recent surveys have shown that buying a home nowadays is more affordable than renting. As such, more renters are finding home ownership more enticing.
The signs are already starting to show: About 59.5 percent of tenants recently surveyed say they intend to renew their leases this year, which is the lowest rate since early 2009, according to a study by Kingsley Associates.
3. Mortgages may be a little pricier.
Fannie Mae, Freddie Mac, and the Federal Housing Administration recently have raised their loan fees, which means home buyers can expect to pay a little more for their mortgage this spring.
"Those who don't have credit scores in the high 600s to low 700s may be forced to go the FHA route," says Ed Conarchy, a mortgage planner at Cherry Creek Mortgage in Gurnee, Ill. "And they will be stuck with the higher fees."
Buyers with smaller down payments can expect to pay more for FHA mortgage insurance premiums, which have risen to 1.75 percent of the loan total. Bankrate.com cites an example illustrating the higher fees: A borrower who takes out a $200,000 FHA loan will likely have to pay about $3,500 for mortgage insurance upfront. Prior to the increase taking effect, borrowers would pay about $2,000 for that same loan amount.
Borrowers with higher mortgages can expect higher fees too. The FHA announced that in June it’ll increase its annual insurance for mortgages more than $625,500. "A borrower who lives in a high-cost area and takes out the maximum $729,750 (which is the FHA limit for high-cost areas) will pay $912 each month in mortgage insurance alone," Bankrate.com reports.
Read about more trends expected for the spring selling-season.
Source: “5 Mortgage and Housing Trends in Spring 2012,” Bankrate.com (April 21, 2012
Tuesday, April 24, 2012
Low-ball Offers a Thing of the Past?
Low-ball Offers a Thing of the Past?
Last year, 10 percent of REALTORS® complained about receiving low-ball offers on listed homes — offers usually submitted by the buyer for 25 percent or more below the list price, according to a National Association of REALTORS® survey of its members. But that number has dropped drastically.
According to a survey this March of 4,500 agents and brokers, no REALTORS® complained about low-ball offers. The main problem nowadays: The sudden drop in inventory of for-sale homes has led to fewer homes available to sell.
For home buyers who still think they have a chance of hitting it lucky with a low-ball offer, they’re finding in many markets that their offers are more often being rejected or countered closer to the original asking price, the Los Angeles Times reports.
West Neal with Prudential Olympia in Olympia, Wash., recalls a buyer who came in recently with an offer of $150,000 for a home listed at $250,000. Eventually, they negotiated a final sales price of $230,000, but it took a lot of negotiating on the agents’ parts to get the buyer higher.
"Low-ball offers are down a lot because we're seeing more homes come on the market that are more realistically priced," Neal told the Los Angeles Times.
Source: “Low-ball Offers Decline in Some Housing Markets,” Los Angeles Times (April 22, 2012)
According to a survey this March of 4,500 agents and brokers, no REALTORS® complained about low-ball offers. The main problem nowadays: The sudden drop in inventory of for-sale homes has led to fewer homes available to sell.
For home buyers who still think they have a chance of hitting it lucky with a low-ball offer, they’re finding in many markets that their offers are more often being rejected or countered closer to the original asking price, the Los Angeles Times reports.
West Neal with Prudential Olympia in Olympia, Wash., recalls a buyer who came in recently with an offer of $150,000 for a home listed at $250,000. Eventually, they negotiated a final sales price of $230,000, but it took a lot of negotiating on the agents’ parts to get the buyer higher.
"Low-ball offers are down a lot because we're seeing more homes come on the market that are more realistically priced," Neal told the Los Angeles Times.
Source: “Low-ball Offers Decline in Some Housing Markets,” Los Angeles Times (April 22, 2012)
Friday, April 13, 2012
Thursday, April 12, 2012
Buyer Urgency Improves, More See Now Good Time to Buy
Buyer Urgency Improves, More See Now Good Time to Buy
More home buyers may jump off the sidelines this spring as they get more urgent about purchasing a home, fearing that home price and mortgage rate increases are on the horizon.
Housing surveys in recent weeks have shown that more Americans are seeing now a great time to purchase a home. In the most recent survey, 73 percent of Americans say now is a good time to buy, according to the latest Fannie Mae Housing Survey conducted in March. That’s up from 70 percent in February who said it was a great time to buy.
"Conditions are coming together to encourage people to want to buy homes," says Doug Duncan, Fannie Mae’s chief economist. "With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that home ownership is a more compelling housing choice."
Indeed, more buyer urgency is evident in the market. Thirty-three percent of those surveyed by Fannie say they expect home prices soon to increase, which is the highest percentage in a year. What’s more, nearly 40 percent say they expect mortgage rates to rise in the next year too, which is also up from previous surveys.
Coupled with that, 48 percent of Americans say they expect rents to continue to climb, and 44 percent say they expect their financial situation to improve in the next year.
Source: “More Americans Think It’s Time to Buy a Home,” MSN Real Estate (April 9, 2012
Housing surveys in recent weeks have shown that more Americans are seeing now a great time to purchase a home. In the most recent survey, 73 percent of Americans say now is a good time to buy, according to the latest Fannie Mae Housing Survey conducted in March. That’s up from 70 percent in February who said it was a great time to buy.
"Conditions are coming together to encourage people to want to buy homes," says Doug Duncan, Fannie Mae’s chief economist. "With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that home ownership is a more compelling housing choice."
Indeed, more buyer urgency is evident in the market. Thirty-three percent of those surveyed by Fannie say they expect home prices soon to increase, which is the highest percentage in a year. What’s more, nearly 40 percent say they expect mortgage rates to rise in the next year too, which is also up from previous surveys.
Coupled with that, 48 percent of Americans say they expect rents to continue to climb, and 44 percent say they expect their financial situation to improve in the next year.
Source: “More Americans Think It’s Time to Buy a Home,” MSN Real Estate (April 9, 2012
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