Norma's Blog

I would like to gather 100 reasons buyers should buy now - add yours

Norma Center (Solid Source Realty of Georgia) — Thu, 13 Mar 2008 21:29:26 -0500

I posted 10 reasons. That can be a start but with this market, many buyers are still on the sidelines. I would love to give them 100 reasons to buy NOW. Please add your thoughts and let's see if we can hit the magic number of 100.

Why Buyers should buy NOW...

Norma Center (Solid Source Realty of Georgia) — Thu, 13 Mar 2008 17:49:38 -0500

Top Ten Reasons to

Invest in Real Estate NOW

1. Rent rates have increased in many markets.

2. Interest rates remain extremely attractive

compared to historic levels.

3. Demand for rental properties has increased

with the elimination of sub-prime

mortgages for buyers with weaker credit.

4. Larger selection of properties is now

available. According to the National Association

of Realtors, there are more

homes on the market now as compared

to a year ago.

5. Less competition to acquire nice homes.

Everyone is sitting on the sidelines. You

won't have to out-bid another buyer to

acquire a property.

6. As noted in last month's newsletter, the

population is projected to increase dramatically

over the next 40 years.

7. Lower home prices. In many areas, investors

can acquire homes at attractive

prices with excellent cash-flow.

8. Opportunity to negotiate repairs with sellers

before closing. In the past, some investors

had to assume certain repairs to

get the seller to accept their offer. Now,

sellers are having to take care of more

repairs in order for investors to buy their

properties.

9. Builders are struggling. Investors may

now be able to acquire new construction

homes below the builder's cost. New

construction homes are hassle-free investments.

10.The real estate market will rebound

within the next year or two. Real estate

cycles have a tendency to last two to

three years. We are probably halfway

Real Estate may get a stimulus from tax credit provision

Norma Center (Solid Source Realty of Georgia) — Fri, 07 Mar 2008 08:37:52 -0600

New tax credit provision in stimulus pack

A proposed new provision in the planned economic stimulus package would offer a tax credit for home buyers. If enacted, it would help reduce the large amount of new housing inventory currently on the market, according to the National Association of Home Builders.

"It would be particularly helpful to first-time buyers," said Lawrence Yun, chief economist for the National Association of Realtors. "More first-time buyers are creating a chain reaction in the market, allowing more current homeowners to trade up into their next home. A tax credit for first-time buyers could give them a boost in confidence, counteracting their worries of home-price drops to come. "People will realize that the worst in housing is coming to an end if they see bold measures," Yun added.

NAHB pointed out that such a plan worked before. In 1975, when inventories were very high, a $6,000 home-buyer credit brought in a substantial number of buyers - enough for home builders to get back to business. "The biggest bang for the buck most likely would be provided by a temporary home buyer tax credit," said NAHB's David Seiders. "Tax credits for the purchase of a home are a means of eliminating excess inventory, relieving pressure on falling housing prices and ending the wait-on-the-sideline strategy some potential buyers have adopted."

FHA HAS INCREASED LIMITS IN GEORGIA

Norma Center (Solid Source Realty of Georgia) — Thu, 06 Mar 2008 15:56:43 -0600

FHA Mortgage Limits List - FHA Forward

Message: MORTGAGE LIMITS SUCCESSFULLY COMPLETED

Mortgage maximums as of Wednesday March 05, 2008
(159 records were selected, records 1 through 50 displayed)

MSA Name	MSA Code	Division	County Name	County Code	State	One-Family	Two-Family	Three-Family	Four-Family	Last Revised
NON-METRO	99999		APPLING	001	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
DOUGLAS, GA (MICRO)	20060		ATKINSON	003	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
NON-METRO	99999		BACON	005	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ALBANY, GA (MSA)	10500		BAKER	007	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
MILLEDGEVILLE, GA (MICRO)	33300		BALDWIN	009	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
NON-METRO	99999		BANKS	011	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA)	12060		BARROW	013	GA	$346,250	$443,250	$535,800	$665,850	03/05/2008
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA)	12060		BARTOW	015	GA	$346,250	$443,250	$535,800	$665,850	03/05/2008
FITZGERALD, GA (MICRO)	22340		BEN HILL	017	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
NON-METRO	99999		BERRIEN	019	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
MACON, GA (MSA)	31420		BIBB	021	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
NON-METRO	99999		BLECKLEY	023	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
BRUNSWICK, GA (MSA)	15260		BRANTLEY	025	GA	$276,250	$353,650	$427,450	$531,250	03/05/2008
VALDOSTA, GA (MSA)	46660		BROOKS	027	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
SAVANNAH, GA (MSA)	42340		BRYAN	029	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
STATESBORO, GA (MICRO)	44340		BULLOCH	031	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
AUGUSTA-RICHMOND COUNTY, GA-SC (MSA)	12260		BURKE	033	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA)	12060		BUTTS	035	GA	$346,250	$443,250	$535,800	$665,850	03/05/2008
NON-METRO	99999		CALHOUN	037	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ST. MARYS, GA (MICRO)	41220		CAMDEN	039	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
NON-METRO	99999		CANDLER	043	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA)	12060		CARROLL	045	GA	$346,250	$443,250	$535,800	$665,850	03/05/2008
CHATTANOOGA, TN-GA (MSA)	16860		CATOOSA	047	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
NON-METRO	99999		CHARLTON	049	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
SAVANNAH, GA (MSA)	42340		CHATHAM	051	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
COLUMBUS, GA-AL (MSA)	17980		CHATTAHOOCHEE	053	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
SUMMERVILLE, GA (MICRO)	44900		CHATTOOGA	055	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA)	12060		CHEROKEE	057	GA	$346,250	$443,250	$535,800	$665,850	03/05/2008
ATHENS-CLARKE COUNTY, GA (MSA)	12020		CLARKE	059	GA	$298,750	$382,450	$462,300	$574,500	03/05/2008
NON-METRO	99999		CLAY	061	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA)	12060		CLAYTON	063	GA	$346,250	$443,250	$535,800	$665,850	03/05/2008
NON-METRO	99999		CLINCH	065	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA)	12060		COBB	067	GA	$346,250	$443,250	$535,800	$665,850	03/05/2008
DOUGLAS, GA (MICRO)	20060		COFFEE	069	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
MOULTRIE, GA (MICRO)	34220		COLQUITT	071	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
AUGUSTA-RICHMOND COUNTY, GA-SC (MSA)	12260		COLUMBIA	073	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
NON-METRO	99999		COOK	075	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA)	12060		COWETA	077	GA	$346,250	$443,250	$535,800	$665,850	03/05/2008
MACON, GA (MSA)	31420		CRAWFORD	079	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
CORDELE, GA (MICRO)	18380		CRISP	081	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
CHATTANOOGA, TN-GA (MSA)	16860		DADE	083	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA)	12060		DAWSON	085	GA	$346,250	$443,250	$535,800	$665,850	03/05/2008
BAINBRIDGE, GA (MICRO)	12460		DECATUR	087	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA)	12060		DEKALB	089	GA	$346,250	$443,250	$535,800	$665,850	03/05/2008
NON-METRO	99999		DODGE	091	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
NON-METRO	99999		DOOLY	093	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ALBANY, GA (MSA)	10500		DOUGHERTY	095	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA)	12060		DOUGLAS	097	GA	$346,250	$443,250	$535,800	$665,850	03/05/2008
NON-METRO	99999		EARLY	099	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008
VALDOSTA, GA (MSA)	46660		ECHOLS	101	GA	$271,050	$347,000	$419,400	$521,250	03/05/2008

Selection criteria

Sorted by:	County
State:	GA
County:
County Code:
MSA Name:
MSA Code:
Limit Type:	FHA Forward
Last Revised:

The current basic standard mortgage limits for FHA insured loans are:
		One-family	Two-family	Three-family	Four-family
	FHA Forward	$271,050.00	$347,000.00	$419,400.00	$521,250.00
	HECM	$200,160.00
	Fannie/Freddie	$417,000.00	$533,850.00	$645,300.00	$801,950.00

High cost area limits are subject to a ceiling based on a percent of the Freddie Mac Loan limits The ceilings are currently:
		One-family	Two-family	Three-family	Four-family
	FHA Forward	$729,750.00	$934,200.00	$1,129,250.00	$1,403,400.00
	HECM	$362,790.00
	Fannie/Freddie	$729,750.00	$934,200.00	$1,129,250.00	$1,403,400.00

Section 214 of the National Housing Act provides that mortgage limits for Alaska, Guam, Hawaii, and the Virgin Islands may be adjusted up to 150 percent of the new ceilings. This results in new ceilings for these areas of:
		One-family	Two-family	Three-family	Four-family
	FHA Forward	$1,094,625.00	$1,401,300.00	$1,693,875.00	$2,105,100.00
	HECM	$544,185.00
	Fannie/Freddie	$1,094,625.00	$1,401,300.00	$1,693,875.00	$2,105,100.00

This is a listing of the FHA single family mortgage limits. This listing was downloaded from the Department's Computerized Home Underwriting Management System. Since mortgage limits are updated constantly, please contact the Homeownership Center if you believe this information is in error.

WHY AUCTION?

Norma Center (Solid Source Realty of Georgia) — Wed, 05 Mar 2008 20:59:04 -0600

The auction is a unique and powerful system. It creates a form of competition that cannot be duplicated by private treaty. Auctions are used internationally to exchange assets in a manner that is mutually beneficial for the buyer and the seller. Each bid reinforces the true market value of the property. These affirmations of value encourage other participants to continue the bidding process. Inside each of us is the strong desire to win.

Traditionally, the buyer satisfies this need by negotiating with the seller to reduce the price. But, we all know that getting a buyer or seller to act is a difficult thing to accomplish. With an auction, the buyer can only win if he or she out bids the other bidders, right now.

Auctions accelerate the process of selling any property by compressing the marketing period. It brings together all interested parties at the same time to complete the sale. Offers and counter-offers, and the frustrating, slow negotiation process are swiftly turned into an exciting, urgent bidding match by serious prospective buyers. Auctions bring all interested parties into one place at the same time for the single purpose of determining who will pay the most for the property. Excitement and motivation are present at auctions. Auctioneers apply continuous motivational pressure to gain every dollar available.
This sense of excitement works to create the psychology of an impending sale. Consequently, all interested parties are compelled to make a decision, and make it now.

The terms of the auction are set by the seller. All buyers bid based on a common set of terms and conditions. The seller remains in the driver's seat throughout the process.

When the sale is over, there will be a signed contract to purchase with a deposit check, and the closing will be set for 30 to 45 days or less from the auction date. The simple principle of the time value of money ("time is money"), dictates that a thousand dollars received today is worth more than the same thousand dollars received next year. Also, auctions can increase a sellers liquidity and reduce holding costs significantly by quickly terminating on-going expenditures such as interest, taxes, insurance and maintenance.

Auctions can also effectively control the costs of promotion and advertising of the property. It is no secret that there is a certain amount of the price of a property that must be set aside for advertising and promotion if an effective sale is to be achieved. Because an auction can effectively determine when a property will sell (date of the auction), a seller can afford to effectively attack the marketplace. By using signage, print media, the internet, TV, radio and direct mail, a media blitz can be developed that will target a multitude of prospective buyers. A well advertised auction can pull more prospective buyers in to inspect a property in a short period of time (urgency) than a conventional listing period that too often extends to a year ... or even more. Consider traditional methods. If the system is not working why do things the same way? If you have time to wait and you don't have to sell your home, the traditional method is for you. If you need to sell quickly and need to generate as much interest in your property in the shortest amount of time, THIS IS FOR YOU.

Why AUCTION?

Norma Center (Solid Source Realty of Georgia) — Wed, 05 Mar 2008 20:57:42 -0600

Ask us about Auctions!

Norma Center (Solid Source Realty of Georgia) — Wed, 05 Mar 2008 20:47:33 -0600

Is your typical real estate marketing not working? Try something new! Agents are still being taught the same sales information from 1972. How about a new tool to use, AUCTIONS. AUCTIONS get ACTION. We work with agents to make sure that when the sale is made, they still get their commission. Give us a call for more informaton.

Auctions are popular, here is the scoop

Norma Center (Solid Source Realty of Georgia) — Wed, 05 Mar 2008 13:48:58 -0600

Why an Auction?

The auction is a unique and powerful system. It creates a form of competition that cannot be duplicated by private treaty. Auctions are used internationally to exchange assets in a manner that is mutually beneficial for the buyer and the seller. Each bid reinforces the true market value of the property. These affirmations of value encourage other participants to continue the bidding process. Inside each of us is the strong desire to win.

Traditionally, the buyer satisfies this need by negotiating with the seller to reduce the price. But, we all know that getting a buyer or seller to act is a difficult thing to accomplish. With an auction, the buyer can only win if he or she out bids the other bidders, right now.

Auctions accelerate the process of selling any property by compressing the marketing period. It brings together all interested parties at the same time to complete the sale. Offers and counter-offers, and the frustrating, slow negotiation process are swiftly turned into an exciting, urgent bidding match by serious prospective buyers. Auctions bring all interested parties into one place at the same time for the single purpose of determining who will pay the most for the property. Excitement and motivation are present at auctions. Auctioneers apply continuous motivational pressure to gain every dollar available.
This sense of excitement works to create the psychology of an impending sale. Consequently, all interested parties are compelled to make a decision, and make it now.

The terms of the auction are set by the seller. All buyers bid based on a common set of terms and conditions. The seller remains in the driver's seat throughout the process.

When the sale is over, there will be a signed contract to purchase with a deposit check, and the closing will be set for 30 to 45 days or less from the auction date. The simple principle of the time value of money ("time is money"), dictates that a thousand dollars received today is worth more than the same thousand dollars received next year. Also, auctions can increase a sellers liquidity and reduce holding costs significantly by quickly terminating on-going expenditures such as interest, taxes, insurance and maintenance.

Auctions can also effectively control the costs of promotion and advertising of the property. It is no secret that there is a certain amount of the price of a property that must be set aside for advertising and promotion if an effective sale is to be achieved. Because an auction can effectively determine when a property will sell (date of the auction), a seller can afford to effectively attack the marketplace. By using signage, print media, the internet, TV, radio and direct mail, a media blitz can be developed that will target a multitude of prospective buyers. A well advertised auction can pull more prospective buyers in to inspect a property in a short period of time (urgency) than a conventional listing period that too often extends to a year ... or even more. Consider traditional methods. If the system is not working why do things the same way? If you have time to wait and you don't have to sell your home, the traditional method is for you. If you need to sell quickly and need to generate as much interest in your property in the shortest amount of time, THIS IS FOR YOU.

Norma Center & Associates

RE/MAX Greater Atlanta Auction Group NC&A #3565

Why auction?

Norma Center (Solid Source Realty of Georgia) — Wed, 05 Mar 2008 13:45:32 -0600

Thought I would go ahead and post this information. I hope you find it helpful.

Auctions

Norma Center (Solid Source Realty of Georgia) — Wed, 05 Mar 2008 13:43:55 -0600

RE/MAX Greater Atlanta Auction Group GAL#3656

Auctions available on individual homes, commercial properties, estates, foreclosures and more.

Not sure what AUCTIONS are about?

Give us a call 678-614-0406.

Norma Center & Associatesion

Licensed Real Estate and Auctioneer #3565

What do you need to know?

Norma Center (Solid Source Realty of Georgia) — Wed, 11 Apr 2007 20:57:47 -0500

We will do our best to help.

Send us a message!