Are Home Prices Up or Down ? Its all in who you ask ? - 01/28/10 10:17 AM
Remember with Real Estate the old saying location location location is the key. In this market add an extra location to that wise truth prices are so closely tracked now that homes less than a mile apart can tell a completely different story. My advice listen to the national news but as a local Realtor for advise. … (0 comments)

So what is the Truth About the House Market ?? - 01/28/10 10:09 AM
Are we in recover mode or is all about the way we read the numbers did we really have growth and is the market starting to climb?? We will only know when we look back. In the meantime. … (3 comments)

Mortgage Application Slow -- is the market cooling ?? - 01/27/10 07:40 PM
Mortgage Applications Decrease
 U.S. mortgage applications fell for the first time in four weeks, reflecting a dramatic drop in demand for home refinancing loans, data from an industry group showed today. The Mortgage Bankers Association's (MBA) Market Composite Index for the week ending January 22, 2010 decreased 10.9 percent on a seasonally adjusted basis from one week earlier and, on an unadjusted basis, decreased 10.1 percent compared with the previous week and decreased 19.8 percent compared with the same week one year earlier.  The Refinance Index decreased 15.1 percent from the previous week and the seasonally adjusted Purchase Index decreased 3.3 … (1 comments)

New Home Sales Drop -- what the numbers say - 01/27/10 07:38 PM
New Home Sales Drop
 On the heels of the S&P/Case-Shiller report yesterday, the Commerce Department said sales fell 7.6 percent to a 342,000 unit annual rate from an upwardly revised 370,000 units in November. It was the second straight month that new home sales declined.  Analysts polled by Reuters had expected new home sales to increase to a 370,000 unit annual pace from November's previously reported 355,000 units.  New home sales for the whole of 2009 fell 22.9 percent to a record low 374,000 units, but despite the slump in sales there were a few bright spots in today's report. The … (0 comments)

FILING FOR GEORGIA HOMESTEAD EXEMPTION IN 2010 - 01/22/10 05:44 PM
FILING FOR HOMESTEAD EXEMPTION IN 2010
Homeowners may need to provide their Warranty Deed book and page, proof of residence, social security numbers, driver's license and car tag info
Fulton County - deadline is April 1, 2010 404-612-6440
http://www.fultonassessor.org/Forms/HtmlFrame.aspx?mode=content/Exemptions.htm&taxyear=2007&ownseq=1&jur=&LMparent=180
DeKalb County - deadline is March 1, 2010 404-298-4000
http://web.co.dekalb.ga.us/taxcommissioner/index.asp?pg=homestead
Gwinnett County - deadline is March 1, 2010 770-822-8800
http://gwinnetttaxcommissioner.manatron.com/Tabs/Property/HomesteadExemption.aspx
Cobb County - deadline is April 1, 2010 770-528-8600
http://www.cobbtax.org/Forms/HtmlFrame.aspx?mode=content/Exemptions.htm&LMparent=189
Clayton County - deadline is April 1, 2010 770-477-3311
http://www.co.clayton.ga.us/tax_commissioner/exemptions.htm
Cherokee County - deadline is April 1, 2010 678-493-6122
http://www.cherokeega.com/departments/department_section.cfm?displaySection=Homestead%20Exemptions.txt&departmentid=30
Henry County - deadline is April 1, 2010 770-288-8180
http://www.co.henry.ga.us/taxcommissioner/PropertyTaxExemptions.shtml
Forsyth County … (0 comments)

And Now for the Good News... - 01/20/10 04:52 PM
Good News for Real Estate
 
Finally there is some good news for real estate. Contrary to what you hear on the popular media, all isn't as bleak as it initially appears - in fact, there is some downright good news when it comes to housing affordability. Let's take a few minutes to explore the current status of income, mortgage and interest rates to discover the silver lining brought about by the current recession.
 
Median Family Income
According to the federal government, median family income actually rose in 2008 to just over $62,000; up from $61,335 during 2007. While not … (0 comments)

Loan Modification vs Princal Reducing - - 01/20/10 04:49 PM
Is reducing mortgage principal a good idea?
 Many critics of the Obama administration's mortgage loan-modification program say it won't work because it doesn't do enough to address "negative equity," the plight of people who owe more on their home loans than the current value of those properties. According to this thesis, without equity in their homes, borrowers have little incentive to keep paying and are apt to walk away as soon as things get tough, if not before. There is even a new word to describe this approach: Lenders need to "re-equify" borrowers by chopping the loan balances to something less … (1 comments)

New home sector to remain weak - 01/20/10 04:43 PM
New home sector to remain weak
 Fitch Ratings analysts say public builders will need to maintain tight controls over costs and expenses in 2010.  On the positive side are an ever-increasing pent-up demand for new homes coupled with affordability at record highs.  New home data showed spring 2009 sales were stronger than the previous winter months, and remain stable. Cancellation rates improved and are near normal levels and current builder inventory continues to decrease. Inventories of new homes are now 59% below the 2006 peak. And, depending on the market, some mortgage insurers and lenders are relaxing down payment requirements, allow … (0 comments)

Why your short sale did not close -- - 01/19/10 08:02 AM
If your asking your self - "Why didn't my short sale close it was a good offer" Maybe this is the ansewer. Eric Reid Managing Broker / Renaissance Realty Group Office 770-277-6652 eFax 404-795-1009
… (4 comments)

What caused the housing bubble? THE FINAL ANSEWER : ) - 01/13/10 04:06 PM
What caused the housing bubble?
In a monthly survey of business economists by the  Wall Street Journal, 42 said low interest rates were partly to blame for the housing boom while 12 sided with Mr. Bernanke, who said they weren't. Academic economists who specialize in monetary policy were split in a separate survey: 13 said low interest rates helped cause the housing bubble; 14 said they didn't.  Mr. Bernanke laid out his defense of Fed policy in a speech to the American Economic Association last week, acknowledging that interest rates were very low but adding that policy "does not appear to … (3 comments)

Option ARMs feeding foreclosures - 01/13/10 04:04 PM
Option ARMs feeding foreclosures
 There are no specific numbers on how many option ARM loans there are. But analysts estimate that as many as 1.3 million borrowers took out $389 billion in option ARMs in 2004 and 2005 alone.  Many of those option ARM loans have already re-adjusted to higher payments, but more are on the way. Some 88 percent of Option ARMs originated between 2004 and 2007 are going to adjust higher between now and 2012. Those option ARM borrowers could see their housing bills go up as much as 63 percent, according to Fitch ratings.  "It's going to kill … (0 comments)

Saxon Valley Circle, Atlanta, GA Bank Owned Foreclosure. Luxury home in Buckhead - 01/12/10 06:58 PM
… (1 comments)

1087 Gwens Trail, Lilburn, GA offered at $128,000 FORECLOSURE LISTING - 01/12/10 06:55 PM
… (0 comments)

2 BED 2 BATH CONDO - HOT HOT DEAL offered at $35,900 - 01/12/10 06:53 PM
… (0 comments)

Is 2009 really behind us ?? - 01/06/10 09:28 AM
As "they' say it not over till it's over,and this first week of 2010 we have heard more than a few perspectives of what to come in 2010. A few things that I heard that made me think is that is not over yet.
1) Arm Rates have reached the  3 -5  reset date, According to one business journalist:."The big wave of Option ARM resets has yet to come, and given the drop in home prices, refinancing won't be realistic.".
2) Municipal Defaults: yep, local towns and counties are feeling the pinch with foreclosures and tax defaults draining their coffers.  And when … (6 comments)

BEst Short Sale Deals by City in 2010 - 01/05/10 02:00 PM
Biggest Buyers Market
 
When it comes to short sales, investors would do well to take a look at these major metropolitan areas presenting the largest peak-to-present value price drops. There are a variety of reasons each area has experienced larger than average price drops; from over building in Orlando to unemployment in Modesto, pressure on pricing has resulted in once in a lifetime bargains. Other areas such as Port St. Lucie or Lehigh Acres in Florida have been hit by a perfect storm of unemployment, over building and aggressive sub-prime lending practices combined with lax zoning standards to create a … (0 comments)

2010 Out Look - 01/05/10 01:58 PM
 
 Experts from a range of political leanings, speaking at American Economic Association's annual gathering, were in agreement when it came to the chances for a robust and sustained expansion in 2010.  It won't happen.  Many predicted U.S. gross domestic product would expand less than 2% per year over the next 10 years. That stands in sharp contrast to the immediate aftermath of other steep economic downturns, which have usually elicited a growth surge in their wake.  Housing was at the heart of the nation's worst recession since the 1930s, with median home values falling over 30% from their 2005 peaks, … (0 comments)

Jobless claims down - 01/05/10 01:56 PM
Jobless claims down
 The Labor Department says there were 432,000 initial jobless claims filed in the week ended Dec. 26, down 22,000 from the previous week's revised 454,000, and the lowest since July 19, 2008, when there were 413,000 claims filed.  A consensus estimate of economists surveyed by Briefing.com expected claims to jump to 460,000.  Jobless claims have been trending downward since the end of March, when they peaked at 674,000, the highest figure since 1982.  4,981,000 people filed continuing claims in the week ended Dec. 19, the most recent data available. That's 57,000 down from the preceding week's revised 5,038,000 … (2 comments)

Hom Affordable Program -- Just not Working - 01/05/10 01:54 PM
Making Home Affordable a disaster
 Critics of the Obama administration's $75 billion program to protect homeowners from foreclosure increasingly argue that the program, Making Home Affordable, has raised false hopes among people who simply cannot afford their homes, and some economists and real estate experts now contend it has done more harm than good.    They say many desperate homeowners have sent payments to banks in efforts to keep their homes, wasting dollars they could have saved in preparation for moving to cheaper rental residences.  Some experts argue the program has impeded economic recovery by delaying a wrenching yet cleansing process through … (1 comments)

 
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Eric Reid

Lawrenceville, GA

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Renaissance Realty Group of Keller Williams Atlanta Partners

Address: 1960 Satellite Boulevard , Suite 1100, Duluth, GA, 30097

Office Phone: (770) 277-6652

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