Atlanta Real Estate News Update

By
Real Estate Agent with Prudential Georgia Realty
 

Atlanta Real Estate News Update
Subject:  Real Estate Advisor - March 2010
Real Estate Advisor: January

 

New Videos - On The Atlanta Real Estate Channel

In December 2009, Prudential Georgia Realty introduced the Atlanta Real Estate Channel - your source for LOCAL real estate news.  We created this local video news channel to keep you informed on local market trends and insight that impacts our local real estate market.

Atlanta Real Estate Channel

 

The Cost Of Waiting

Many potential buyers may not realize the significant incentives that will be lost if they do not choose to purchase a property this spring.  The combinations of lost tax credits plus the changes coming for FHA loans add up to real money.

  • For a First Time Home Buyer, the lost incentives range from $15,000 to $20,000!
  • For a Move-Up or Repeat Home Buyer, the lost incentives range from $13,500 to $18,750!

New Rules Coming From FHA

The Federal Housing Administration (FHA) Commissioner announced a set of policy changes to strengthen their capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities.  The FHA will take the following steps:

 

  • Increase the mortgage insurance premium to 2.25% from the current 1.75%.
  • New borrowers will be required to have a FICO score of 580 to qualify for FHA's 3.5% down payment program.  Borrowers with less than a 580 score will be required to pay a 10% down payment.
  • Seller contributions will be reduced from 6% to 3%.

 

These new policies will be effective in the spring of 2010.  This all means that the buyers have a great opportunity to enjoy lower mortgage payments for purchases prior to these changes.  The combination of the new policies, expected rises in mortgage rates and the expiration of the tax credits make RIGHT NOW a great time to buy real estate in metro Atlanta and north Georgia.

Contact Me For More Information.

 

Tax Credits Will Be Expiring

The extended $8,000 1st Time Home Buyers Tax Credit and the expanded $6,500 Move-up or Trade-in Tax Credit will be expiring on April 30th.  Did you know that over 70% of buyers may be eligible for these tax credits?  But contracts must be signed by April 30th 2010!

 

 

Spring Listing Market Is Coming Early

The spring and summer selling season for real estate is coming early this year.  The tax credits, low mortgage rates and great selection of properties have buyers out earlier than in past years.  Prudential Georgia Realty recently released the new version of our Advanced Property Marketing System. Designed for the current market conditions, this is simply the most effective property marketing solution available.  The results speak for themselves.  Since introducing this innovative methodology, our company has grown our listing market share more than any other brokerage in metro Atlanta and north Georgia.  In fact, we ended 2009 as the #1 real estate marketing company for listings in our market.  Realtor.com recognized our company as the first large brokerage in the nation to receive the prestigious Realtor.com Online Marketing Award of Excellence.

Contact Me For Details.

 

Prudential Georgia Realty #1 in Buyers for 2009

Trendgraphix reports that Prudential Georgia Realty represented more buyers in 2009 than any other brokerage in metro Atlanta and north Georgia.  Our investments in online marketing, corporate relocation, international networks and the local networks of our 1200 agents brought more buyers to our market than any other real estate company.

 

Contact Me To Learn More.

Google Makes Big Changes

Did you know that real estate listings are on Google?  Google recently made a major shift from Google Base (classified ads) to now display real estate listings on Google Maps.  This is one of the thousands of online locations that we display our property listings.  Google remains the 800-pound gorilla of the search business and this is important to understand for exposing your real estate listing.

 Google also offers a free directory advertising service called GOOG 411.  Just dial 1.800.466.4411 for FREE directory listings.  No more $2 charges from your cell phone provider.

Google also recently announced a new service to offer movie rentals.  Yes, the worlds of video and TV are merging.  This is important to understand for real estate.  The options for real estate searches are changing fast.  Ask me about the latest options in rich media to bring the unique story of your property to life - online, in print and in person!

Thank You

I hope you found this newsletter informative.  The real estate market is changing quickly.  I have access to the latest market trends and detailed information that can make help you make better real estate decisions.  We expect to see an "early spring selling season" driven by the new tax credits, great selection of properties, low prices and incredible mortgage rates.

If you are interested in buying, I can help you find the right property.  There are many new details to consider when looking at the options today.  This is especially true for short sales, builder foreclosures, bank-owned properties and auction properties.

 

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