Zac Pasmanick - The Zac Team


Displaying blog entries 1-10 of 25

Recent Numbers from Genworth Shows an 81% Increase in Foreclosure Prevention

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

During the four-quarter period which ended March 31st, Genworth Financial (mortgage insurer) assisted servicers with foreclosure prevention workouts on a total of $3.4 billion mortgages.

This has produced an 81% increase in the dollar amount of saved mortgages in comparison to this time last year. Along with lenders and servicers, Genworth has completed 23,360 mortgage workouts within the past 12 months.

As for the actual breakdown: 33% of loan modifications accounted for all workouts, HAMP mods accounted for 24%, 19% consisted of repayment plans, short sales took 18%, the Homesaver Advance Program by Genworth accounted for 4%, and the other 2% consisted of other workout types.

The top 10 Leaders in the foreclosure prevention efforts included: California with $347 million mortgages, Florida with $342 million mortgages, Arizona with $175million mortgages, Texas with $173 mortgages, Illinios with $167 million mortgages, Georgia with $164 million mortgages, New York with $152 million mortgages, New Jersey with $144 million mortgages, North Carolina with $122 million mortgages, and Maryland with $107 million mortgages receiving workouts.

Nationally, there was a total of 80% of workouts categorized as "cures" which enabled borrowers to become current on their mortgages. Currently the company's cure rate sits above 80% in 35 of the 50 United States.

Lastly, there was an average savings of $144,730 per borrower on each mortgage workout.

4 Tips for First Time Homebuyers to Follow During a Professional Home Inspection

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

With factors such as the now expired first time home buyers tax credit and historically low mortgage rates, many Americans are being drawn to the housing market and deciding to purchase for the first time. According to the National Association of Realtors (NAR), almost half (47%) of the homes purchased last year were purchased by first time buyers.

Of course buying a home for the first time can be both exciting and scary. Therefore first time purchasers should do as much research as possible before making that major decision. In addition, one major action that proves to be extremely educational for first time buyers is a professional home inspection. Home inspections provide the potential owner with information regarding the home's systems and can also be used as a tool in negotiating the home's price. Here's a list of things for those who are purchasing for the first time to be aware of during a professional home inspection.

Inspect the Inspector

Make sure you do your homework when searching for a home inspector. You would need to look for someone who possesses accreditation and a superb reputation. Make sure to ask questions such as: How long has the company been in business? It is also a good idea to find out about the inspectors formal training and continued education. You should also verify that the inspector possesses personal liability insurance or "Errors and Omissions" (E&O).

Ask for a sample of the report

You should want to see a sample of the report to verify that the quality is both professional and concise. A good quality report will consist of pictures and details regarding the home's systems and accessible elements. A poorly prepared report will not be taken seriously by the home seller.

Inspect ancillary systems

Because many first time buyers are not fully aware of what inspections are needed, many companies will offer you additional services at a discounted rate. For example, if you're looking to purchase a home with a septic system, a professional company may be able to offer septic system inspections. Termite inspections, mold screening, and water/radon testing are other common inspections offered by professional companies.

Go along on the inspections

Find out if the company will allow you to tag along for the inspection. If a company doesn't agree to this, find another one. Home inspectors can also show the home buyer how to operate different systems of the home and can also provide valuable tips on how to save energy and etc.

Gorgeous Traditional Home @ 1371 Eastgate Court

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

You are guaranteed to enjoy this nearly new, traditional, two story home in East Atlanta. This gorgeous 5 bedroom, 3.5 bath is just walking distance to East Atlanta Village!

You will love features such as a vaulted great room, stack stone fireplace, formal dining room, hardwood floors, and wiring for surround sound!

In addition, you will find the modern kitchen to be a cook's dream with breakfast bar, Corian counters, tile back-splash, recessed lighting, and sunny breakfast nook in bay windows!

You will also enjoy the main-level's master suite and bath with tray ceiling, separate shower and tub, and dual vanities!

You will also find a great bonus space on the second floor as well as a fully finished basement with additional living space with tile and carpet flooring, full bedroom suite, additional room, and separate patio!

For your exterior enjoyment you will find a wraparound deck overlooking the manicured and wooded back yard, two-car garage, and private cul-de-sac.

View the virtual tour here!

For more information and the most current price of this home, please call our 24-hour hotline for free, recorded information at 1.888.510.1884 and enter code 2354.

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.

Mortgage Rates Continue to Decline According to Freddie Mac's Weekly Survey

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

According to Freddie Mac's recent weekly survey, mortgage rates continue to decline and set new record lows in two weekly surveys.

The survey showed an average interest rate of 4.78% with a 0.7 origination point for 30-year fixed rate mortgages (FRM) ending the week of May 27th. This was a decrease from last week's 4.84% and a decrease from last year's 30-year FRM average of 4.91%. This is Freddie Mac's lowest average since December 3rd's average of 4.71%.

As for the 15-year FRM, the weekly survey showed a rate of 4.21% with an average 0.7 point, a decrease from last week's average of 4.24% and last year's 4.53%. This rate has proven to be the lowest since Freddie Mac began tracking the product in 1991.

As for the five-year Treasury-indexed hybrid ARM average, Freddie's survey reported an average of 3.97% with an average 0.7 point. This number was an increase from last week's average of 3.91%. A year ago the five-year ARM averaged 4.82%.

The one-year treasury- indexed ARM averaged 3.95% with an average 0.6 point which was a decrease from last week's average of 4%. A year ago, this average was sitting at 4.69%. This week's average is the lowest one-year ARM average since May 27, 2004 when it averaged 3.87%.

Existing Home Sales Showed Continued Improvement in April 2010

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

According to recent numbers released by the National Association of Realtors (NAR), existing home sales experienced another rise during the month of April. Factors that are thought to have contributed to last month's rise include: the tax credit, a continual rise in consumer confidence, and favorable affordability conditions.

As for the actual numbers, existing home sales increased by 7.6%. This increase produced a seasonally adjusted annual rate of 5.77 million units in April which was an upwardly revise of March's 5.36 million. In addition, April's numbers also showed a significant increase from April 2009 with a rise of 22.8% from 4.70 million units.

In regards to the total housing inventory, existing homes available for sale increased by 11.5% to 4.04 million towards the end of last month, producing an 8.4- month supply at the current sales pace. This number was also up from March's 8.1-month supply. As for raw unsold inventory, there was a slight increase of 2.7% compared to this time last year however, this number is still below July 2008's record number of 4.58 million.

There was a 4.0% increase in the national median existing-home price with the national median existing-home price for all types of homes coming in at $173,100 last month. In addition, 33% of sales consisted of distressed homes.

Single family home sales experienced an increase of 7.4% giving a seasonally adjusted annual rate of 5.05 million last month, which was up from 4.70 million in March. In comparison to April 2009, there has been an increase of 20.5%. As for the median existing single-family home price, there was a 4.5% increase with that number coming in at $173,400 during the month of April.

Existing condominium and co-op sales increased by 9.1% with a seasonally adjusted annual rate of 720,000 last month from 660,000 in March. In addition, this number increased by 42.3% from a 506,000 unit-pace in April 2009. The median existing condo price for last month came in at $ 171,000 which is 0.6% below April 2009's number.

Regional numbers are as follows:

Existing home sales in the Northeast jumped 21.1% producing an annual level of 1.09 million last month and was 41.6% higher than April 2009. Median prices in the Northeast came in at $243,000 which was an increase of 2.1% compared to April 2009.

Existing home sales in the Midwest increased 9.9% last month to a pace of 1.33 million which is 29.1% higher than last year's number. Median prices in the Midwest came in at $146,400 and 5.8% higher than last year.

Existing home sales in the South rose 8.6% to an annual level of 2.14 million last month which is 23.0% higher than last year. The median prices in the South came in at $150,000, an increase of 1.2% from last year.

In the West, existing home sales actually fell by 6.2% to an annual rate of 1.21 million last month but are still 5.2% above last year's number. The median prices in the West came in at $212,400 which was up 3.8% from April 2009.

Southern Homeowners Possess High Confidence in their Home's Value

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

Southern homeowners are very optimistic and confident in regards to their home's worth. However, one major question is, how close to reality are these homeowners?

According to Zillow's Q1 Homeowner Confidence Survey, 34% of Southern homeowners said their home's gained some type of value over the past year. However, the actual number for homes gaining value came in at 27%.

In addition, when asked about the decrease of value, 46% of Southern homeowners believed there was a decrease. In actuality that total number came in at 69%.

In comparison to numbers presented in the fourth quarter, 49% of homeowners in the South believed there was a decrease in home value when there was actually a 64% decrease in home values in the south.

As for future predictions, 18% of Southern homeowners expect the value of their home's to decrease in the next six months, 41% expect their home's value to stay the same, and 42% of Southern homeowners expect a rise in home value. 

Congress Passes New Act that Will Reduce Mortgage Payments for Unemployed Homeowners

by the zac team @ RE/MAX Greater Atlanta


Greetings neighbors,

There's more great news for those who are in distress in regards to their home mortgages thanks to a recent bill passed last week. The Restoring American Financial Stability Act passed by Congress, will reduce mortgage payments for those who are unemployed.

In addition, the program will supply 3 billion dollars which will come from the Troubled Asset Relief Program or TARP, which will give approximately $50,000 to those who are unemployed and own a home. These homeowners are expected to resume their regular payments within two years.

The newly presented program was modeled after Pennsylvania's Homeowners' Emergency Mortgage Assistance Program (HEMAP). Introduced to the state of Pennsylvania in 1983, HEMAP has since provided $236 million to unemployed homeowners.

It has been said that lawmakers hope to have the new Act signed by President Obama by July 4, 2010 recess.

Why Are Experts Calling the Housing Market Bipolar?

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

Wondering how the real estate market is looking these days after the expiration of the First Time Home Buyers Tax Credit? According to recent articles, the market is actually being called bipolar. Many experts feel today's market is being pulled in different directions and are unable to predict which way it will end up.

With that being said, there have been implications of an improving market with the rise of sales and prices. However, there has also been a significant increase in the rise of interest rates and home repossessions. In addition, the market is also facing millions of foreclosures that need to be sold but have not been listed. This shadow inventory could potentially cause a rift in a recovering market if they hit the market all at once.

Taking these points into consideration, many experts are predicting somewhat of a negative impact for the short term but a positive impact by the end of this year.

Needing a Few Improvements on Your Home? Do It Yourself, Check Out How

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

It's probably safe to say most Americans have a strong desire to save money these days in our recovering economy. With this month being National Home Improvement month, treat your home to a few improvements. Here are some low cost home improvement tips from HouseMaster, one of North America's first and largest home inspection franchisors.


Practice checking for termites on a regular by checking for "mud tubes" or wood damage which are two definite signs of termites. In addition, by keeping the area around your home free of wood piles and debris you can cut down on the chance of acquiring a problem with termites.

Water Damage?

According to HouseMaster, one of the common places for this damage is in the bathroom where grout sometimes breaks down allowing water easy access behind tiles causing them to loosen. An easy and cheap fix for this common water damage is to re-grout, caulk, and use sealant on your bathroom tiles and surrounding fixtures. In addition, if you experience a problem in the foundation of your home due to water damage you can invest in a splash block to redirect water from the home's foundation.

Dirty Gutters?

Noticed any stains under your gutters lately? These stains are often signs of overflowing which has potential to cause structural damage. Additionally, overgrown grass and shrubbery on your gutters can also lead to clogging, carpenter ants, or termite problems. An easy fix and prevention method for this would be to keep overgrown shrubbery and grass trimmed and keeping your gutters clean.

Worn or lifting roof flashings? Make sure to Replace or Seal Them

Because flashings can decay over an extended period of time which eventually leads to water damage of your home's roof structure, you can prevent costly damage by replacing worn flashings or by applying sealant to these problem areas.

Check Out the Zac Team's My Google for the Latest Events/Attractions in Atlanta!

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

Take a look at our latest project here at the Zac Team, Google My Maps! Are you new to the metro Atlanta area or know someone who is new to the area? Or maybe you're not new but just need a list of things to do, well the Zac Team's Google My Maps is exactly what you need to get a feel of the city.

Often called the "New York of the South", there's a great deal of events, restaurants, sporting events, and etc for you and your family to check out!

With beautiful sunny days in this beautiful city why not get out and enjoy what Atlanta has to offer?

Check these out!




Sports Attractions

Displaying blog entries 1-10 of 25




Contact Information

Photo of Zac Pasmanick  Real Estate
Zac Pasmanick
RE/MAX Metro Atlanta Cityside
600 Virginia Avenue NE
Atlanta GA 30306
Office: 404-564-7272


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