Zac Pasmanick - The Zac Team

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Fixed Rates Show Very Little Change From the Previous Week

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

According to recent numbers, fixed rates showed very little change and remained pretty stable according to Freddie Mac's Primary Mortgage Market Survey (PMMS).

The survey revealed that the 30-year fixed-rate mortgage (FRM) averaged 5.06 percent with an average 0.7 point for the week ending April 29, 2010. This number changed very little from last week's number of 5.07 percent. In comparison to last year's number at this time, the 30-year FRM was at 4.78 percent.

As for the 15-year FRM, there was an average of 4.39 percent with an average 0.7 point which was the same as last week's number. Last year's 15-year FRM averaged 4.48 percent this time last year.

Freddie Mac's survey also showed an average of 4.25 percent with a 0.5 point average for the 1-year Treasury-indexed ARM this week. This number was up from last week's average of 4.22 percent and down from last year's average of 4.77 percent at this time.

Hello neighbors,

As many of you may already know, the expiration of the Home Buyer's Tax Credit is now upon us. Expiring on April 30, 2010 the tax credit is being credited with helping to improve the housing market. With its expiration, do you feel that many consumers will continue shopping for a home or will this expiration of the tax credit deter consumers?

Well according to a recent survey by Prudential Real Estate and Relocation Services, Inc., 65% of consumers feel the end of the tax credit will not have an impact on their interest of purchasing a home. The survey consisted of 1,000 Americans between the ages of 25-64 with an income of at least $35,000.

Over 90% of those surveyed believe that the home buyer tax credit definitely helped the U.S. housing market as well as first time home buyers.

In addition, the recent survey showed how optimistic consumers are about real estate values with 46% predicting prices to increase in their area within the next year. However, 12% believe prices will decline.

As for the future, 79% of those surveyed expect real estate prices to raise with 20% estimating a substantial increase over the next five years.

As for renters, 75% believe home ownership is a better long term choice opposed to renting.

New Video Tutorial Released to Shed A Little More Light on the New HAFA Program

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

There's a new video hitting the real estate scene to help homeowners gain a better understanding of the Home Affordable Foreclosure Alternative (HAFA). The new video tutorial recently released by The Distressed Property Institute, LLC, explains the new short sale and deed-in-lieu processes created by HAFA.

"What in the World is HAFA" will educate homeowners on time lines, benefits, incentives, and best practices outlined by the Making Home Affordable (MHA) program released earlier this month on April 5th.

The HAFA program was implemented to help distressed homeowners avoid foreclosure by offering incentives for completing a short sale or deed-in-lieu of foreclosure.

Other releases by the institute have included "HAFA Decoded", a video viewed by approximately 10,000 real estate agents and a free resource called Understanding HAFA which provided homeowners and agents with information on the new HAFA program as well as answers to common questions.

 

RRP, the EPA's New Rule Regarding the Renovation of Buildings Before 1978

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

The Environmental Protection Agency (EPA) has implemented a new rule which is called the Renovation, Repair, and Painting Rule. The RRP rule will affect property managers and others who may have to disturb known lead based paint during a renovation.

In addition, the new rule will apply to any and all renovations completed on residential houses, apartment buildings, child occupied facilities, schools, or day care centers built prior to 1978.

As of April 22, 2010, any renovation jobs in progress will be affected by the RRP rule and will require training, certification, and work place requirements.

For more details and information on the new RRP rule by EPA click here.

Make Your Home A Safer Place for You, Your Family, and Our Plant. Go Green!

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

For those who may not already know, the celebration of our earth or what we've grown to call "Earth Day" hit its 40th year this past Thursday (4/22/2010). However, it's imperative for us living on this wonderful planet to recognize its needs not just one day out of the year but every day. With that being said, what better way to help save our planet than by making your home green? Here are a few tips to consider if you want to help keep this planet a healthy one by making your home better for you, your family, and planet earth.

Weatherization is key in all seasons

Window shades can keep your home both warm and cool. In the summer you can lower your shades to keep your home cool as well as raise them to bring in heat on a cool day. On those hot summer days where the sunlight is beaming through, you can purchase a thin film to cover your window to protect your furniture from fading and to block sunlight.

Low-Flow your showers, faucets, and toilets

It's time to replace your old shower and faucets caps with newer ones that will decrease the flow of water.

Decrease your use of paper products and begin purchasing only recycled ones

With numerous supermarkets, drug stores, and etc using recycled products it is not hard to find them. In addition to buying the right product the huge change will come from decreasing your usage of the product you normally use.

Use your dishwasher (if you have one)

Although this may be hard to believe, automatic dishwashers are actually better for the planet than hand washing under the kitchen faucet.  Make sure your dishwasher is filled, don't have just a few dishes when starting a cycle. Two other things to remember while utilizing your dishwasher is don't rinse your dishes before placing them into the dishwasher and starting a cycle on your dishwasher is more energy efficient if used at night.

Your Credit and Foreclosure, What You Should Probably Know

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

For those who may keep up with the real estate market, you are well aware that foreclosures and short sales are becoming pretty prevalent in today's market. However, there are signs that the economy is improving and some economist say the economy's rise is happening a little faster than expected. With some distressed home owners going through the process of foreclosure, many are understandably concerned with the impact a foreclosure will have on their credit.

Recent estimates from Fair Issac, the corporation who developed FICO scores, revealed how your credit could possibly be affected after mortgage delinquency problems. Estimates on the average hit your credit will take are as follows:

Hit of 40-110 points for being 30 days late

Hit of 70-135 points for being 90 days late

Hit of 85-160 points for Foreclosure, Short Sale, or deed-in-lieu

Hit of 130-240 for Bankruptcy


Looking for agents with experience in working with distressed properties? Contact the zac team, RE/MAX Greater Atlanta. Address: 1057 Ponce De Leon Avenue Northeast Atlanta, GA 30306 Phone: (404) 564-7200

Charming and Elegant Atlanta Home Needing an Owner @ 1341 Greenridge Trail

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

Here we have a beautiful 6 bedroom, 5 bath home at 1341 Greenridge Trail! This immaculate and traditional home include delights such as satellite dish, manicured lawn, and whirlpool tub!

Other great features you are sure to enjoy include: built-in bookcases, custom blinds that provide heat and light control, and finished walk-out basement!

In addition, you will appreciate a master suite with sitting room and walk-in closets.

More intriguing features of this luxurious home include: attractive pool, luxurious baths, 3 fireplaces and arched doorways, a Jack & Jill room, and space galore!

Recreational features you or the children in your life are sure to enjoy include basketball courts and a media room.

Make this charming and elegant home yours today!

View the virtual tour here!

Areas we serve: Decatur Georgia, Buckhead Atlanta Georgia, DeKalb County, Fulton County, Avondale Estates, Ansley Park, Virginia Highland, Poncey-Highland, Poncey Highland, Morningside, Candler Park, Grant Park, Lake Claire, Druid Hills, Emory, Inman Park, Downtown Atlanta, Midtown Atlanta, Little Five Points, Edgewood, Cabbagetown, Reynoldstown, East Atlanta, Kirkwood, Oakhurst, Medlock, Fernbank, Castleberry Hill, East Lake, Georgia Tech, Georgia State, Atlanta lofts, Atlanta condos, Atlanta luxury condos, Atlanta townhouses.

Greetings neighbors,

As mentioned in yesterday's post "Thinking About A Short Sale? Here Are Common Mistakes........During the Process" we mentioned three common mistakes made by both agents and distressed homeowners during the short sale process. Here are four more common mistakes to be on the lookout for.

1) Not Enough Time

It is essential that your agent comprehends the foreclosure laws in your local area. You should expect your agent to provide you with an approximate timeline from start to closing. They should also understand the importance of communication with the lender. Specific information can be provided to postpone your foreclosure to negotiate a sale.

Solution: Provide Accurate and Useful Information

You will need to be certain to provide your agent with accurate payment information in reference to your home such as missed payments and any correspondence from your lender.  This will enable your agent to have a complete understanding of your situation.

2) Your Deal Is Not Submitted Properly

If you do not follow the submission directions properly you are basically placing the fate of your deal in an already stressed, overworked, and under staffed department which is not in your best interest.

Solution: Carefully Follow Instructions

Double check everything and make sure to follow through. If you're instructed to fax over information, send the fax plus go the extra mile and mail the information as well. In addition, if you're asked to mail two copies do exactly that, mail two copies. You don't want to have your deal fall apart do to your information not being received.

3) The Buyer's Offer is Too Low

Most of the time, agents will advise you to submit any offer your receive. However, you must keep in mind that the lender is looking for an offer that's better than a foreclosure.

Solution: Proper Negotiation

If you have the right agent, he or she will work with you to negotiate any offer received to help you get the highest and the best from potential buyers. 

4) The Buyer's Contract Is Not Strong Enough

Especially in today's economy, just because a buyer make an offer doesn't mean they're qualified to purchase. Buyers who make offers still need to be pre approved for financing, closing funds must be verified, and the buyer's ability to buy needs to confirmed.

Solution: An Agent Familiar With Qualifying Buyers

Your agent needs to be fully educated on the short sale process as well as familiar with the verification needed to determine a qualified buyer to submit an offer.  If not, these offers have a great chance of falling through.

Looking for a CDPE? Contact the zac team RE/MAX Greater Atlanta. Address: 1057 Ponce De Leon Avenue Northeast
Atlanta, GA 30306
Phone: (404) 564-7200

Looking for A Home in Intown Atlanta? Check Out this Find In Historic Howell Station!

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

Here we have a newly renovated home located in historic Howell Station at 1197 Foster Place NW. This 3 bedroom, 1 bath home comes with new carpet, paint, windows, roof, and HVAC!

In addition, this great home is only minutes away from Downtown, Midtown, and GA Tech and within walking distance to West Midtown shops, restaurants and proposed Westside Park, a future 351 acre park!

Don't miss out on this wonderful deal!

View the virtual tour here!

For more information and the most current price of this home, please call our 24-hour hot line for free, recorded information at 1.888.510.1884 and enter code 2804.

Areas we serve: Decatur Georgia, Buckhead Atlanta Georgia, DeKalb County, Fulton County, Avondale Estates, Ansley Park, Virginia Highland, Poncey-Highland, Poncey Highland, Morningside, Candler Park, Grant Park, Lake Claire, Druid Hills, Emory, Inman Park, Downtown Atlanta, Midtown Atlanta, Little Five Points, Edgewood, Cabbagetown, Reynoldstown, East Atlanta, Kirkwood, Oakhurst, Medlock, Fernbank, Castleberry Hill, East Lake, Georgia Tech, Georgia State, Atlanta lofts, Atlanta condos, Atlanta luxury condos, Atlanta townhouses.


Thinking About A Short Sale? Here Are Common Mistakes Among Agents and Homeowners During the Process

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

Despite what some may think, deciding to do a short sale on your distressed home is not such a bad idea. However, when deciding on a short sale, it's imperative for the home owner to understand the short sale process. In addition, it is also important for the agent handling your short sale to fully understand the process. The following are common mistakes prevalent among both agents and homeowners during a short sale.

1: Your Property Is Priced Incorrectly

     One of the most common mistakes during the short sale process which

     leads to a property not selling.

     Solution: Agent Providing Understanding and Transparency

     A detailed pricing list strategy will be explained to you by your agent

     which will show you the precise price your home should be listed as

     based on its current condition, your local area sales, and how much time

     you have to sell your home.

2: Your Short Sale Proposal Is Incomplete

     Due to most agents who are not certified distressed property experts not

     fully knowing the short sale process and exactly what the lender is look

     for, this is one of the most common cause of a short sale proposal being

     being rejected.

     Solution: Understand Every Aspect of the Short Sale Process

     The agent you are working with should have a detailed understanding of

     the short sale process and should be able to give you a full explanation.

     In addition, the agent should have the ability to easily communicate with

     you and other lenders and produce a strong and completed proposal.

3:  There Has Been Inadequate Follow - Up And Communication

     Your short sale can easily be jeopardized if your agent doesn't

     adequately communicate with all parties involved in the process.

      In some instances, you may not be aware of your file being

     delayed and that you may run out of time.

 

      Thinking about a short sale and need more information? Contact us,

       the zac team RE/MAX Greater Atlanta.

Displaying blog entries 1-10 of 22

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Photo of Zac Pasmanick  Real Estate
Zac Pasmanick
RE/MAX Metro Atlanta Cityside
1189 S. Ponce de Leon Avenue
Atlanta GA 30306
Office: 404-564-7272

• Facing foreclosure? There are options! Please visit www.SavingFamiliesFromForeclosures.com for a personal consultation

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