Real Estate Advisor - February 2014
The March Madness Billion Dollar Bracket Challenge!
Backed By BERKSHIRE HATHAWAY
March Madness is just around the corner. The Men’s NCAA basketball tournament committee will select 64 teams and announce the brackets on March 16th. The National Championship game is Monday, April 7th at Cowboys Stadium in Arlington, Texas. Quicken Loans and our parent company, Berkshire Hathaway have announced the March Madness Billion Dollar Bracket Challenge. If someone can complete the perfect bracket, they win $1 billion!
Here are the rules: Any qualified entrant who correctly enters the contest and predicts the winners of every game in the tournament will share the total $1 billion prize paid in 40 annual installments of $25 million. Alternatively, the winner(s) may elect to receive an immediate $500 million lump sum payment or share in that lump sum payment if there is more than one perfect bracket submitted.
In addition to the potential grand prize, the contest’s 20 most accurate ‘imperfect’ brackets submitted by qualified entrants can win $100,000 each to use toward buying, refinancing or remodeling a home.
Free registration for the Billion Dollar Bracket Challenge will begin on Monday, March 3rd, 2014 and runs until Wednesday, March 19th, 2014. All participants registering prior to the tournament selection process will receive their brackets the evening of Sunday, March 16, 2014 when entrants can begin filling out their bracket. To be eligible for the $1 billion grand prize, entrants must be 21 years of age, a U.S. citizen and one of the first 10 million to register for the contest. As soon as it is available, we will provide a link to registration on our website at BHHSGeorgia.com.
There are over 9 quintillion scenarios for the 64 team field. Note: A quintillion has 18 zeros. The winners could be really smart or just plain lucky. BUT the one thing we know for sure is you cannot win if you do not enter. This is going to be lots of fun just trying!
If You Win, We Would Be Honored To Help You Find Your New Home!
Greater Metro Atlanta Real Estate Update
We are providing this monthly real estate advisor report to keep you informed about the latest trends and issues in the real estate market. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information helps our clients make better real estate decisions!
- Once again, BHHS Georgia Properties was Number 1 in both homes sold and buyers represented for 2013. That makes 5 years in a row.
- For the Greater Metro Atlanta area, listed inventory was up 11% compared to 2012 levels and down 34% from 2011. The limited availability of quality properties has turned some local areas into a seller’s market.
- The available “months of supply” was 4.6 months based upon closed sales (6 months is considered normal). This is down 9% from last month.
- Closings for Metro Atlanta in November were down 2.5% compared to last month and down 6.9% compared to the previous year.
- Closings under $100,000 were down 24.6% from last December. The exit of large investors has allowed the price distribution of properties to return to normal.
- The pace of short sales and foreclosures coming on the market has slowed considerably. In 2010, over 60% of sales were distressed properties but in December we only saw 333 foreclosures and 439 bank-owned sales. Resales and New Homes are the larger mix of sales.
- New Homes are making a slow but sure comeback. There are some wonderful new home communities coming online with the latest innovations in smart building that may be great options for buyers.
Click here to view new home communities. - The Case-Shiller Index reports that Metro Atlanta home values have increased 37% from the bottom of March 2012. But values remain down 16.67% from the peak of July 2007. Click here for the latest report.
- The trend for mortgage rates is higher. The Mortgage Bankers Association and Freddie Mac predict 30-year mortgage rates to be over 5% in 2014. This could significantly reduce buying power for those that wait.
- Baby Boomers are the leading buyer segment followed by First Time Buyers. Move-Up Buyers are showing some signs of improved activity but remain well below historical levels.
This is an unprecedented opportunity to buy the home of your dreams while prices and financing are historically low. But these conditions will not last as the real estate market continues to recover.
Happy Valentine’s Day!
Valentine’s Day is Friday, February 14th. Every February 14, across the United States and in other places around the world, candy, flowers and gifts are exchanged between loved ones, all in the name of St. Valentine. But who is this mysterious saint, and where did these traditions come from?
The history of Valentine's Day--and the story of its patron saint--is shrouded in mystery. We do know that February has long been celebrated as a month of romance, and that St. Valentine's Day, as we know it today, contains vestiges of both Christian and ancient Roman tradition. The Catholic Church recognizes at least three different saints named Valentine or Valentinus, all of whom were martyred. One legend contends that Valentine was a priest who served during the third century in Rome. When Emperor Claudius II decided that single men made better soldiers than those with wives and families, he outlawed marriage for young men. Valentine, realizing the injustice of the decree, defied Claudius and continued to perform marriages for young lovers in secret. When Valentine's actions were discovered, Claudius ordered that he be put to death.
Other stories suggest that Valentine may have been killed for attempting to help Christians escape harsh Roman prisons, where they were often beaten and tortured. According to one legend, an imprisoned Valentine actually sent the first "valentine" greeting himself after he fell in love with a young girl--possibly his jailor's daughter--who visited him during his confinement. Before his death, it is alleged that he wrote her a letter signed "From your Valentine," an expression that is still in use today. Although the truth behind the Valentine legends is murky, the stories all emphasize his appeal as a sympathetic, heroic and--most importantly--romantic figure. By the Middle Ages, perhaps thanks to this reputation, Valentine would become one of the most popular saints in England and France.
Berkshire Hathaway HomeServices wishes you a very Happy Valentine’s Day!
If You Know Someone Who Can Benefit From This Information Or Our Real Estate Expertise, We Would Love To Help Them.
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