Zac Pasmanick - The Zac Team

Blog

Displaying blog entries 11-20 of 203

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!

Attractions

Restaurants

Physicians

Sports Attractions

Now is the Time to Buy, 75% of U.S. Homes are Affordable!

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

Well there is good news rising in the real estate market for a change. According to recent news, now is the time to buy a home. It has been said that 75% of homes are now affordable. Therefore, those who have a decent job and a pretty decent credit score should be able to afford a home.

The National Association of Home Builders (NAHB) estimates that more than 72% of American families are making at least $63,800 which is the medium income here in the U.S. As for the national medium home price for the quarter, homes were averaging $175,000.

In addition, families who make at least the medium income in their metro area and apply no more than 28% of their take home pay towards the housing cost of a home, the NAHB considers the home affordable.

As for the top affordable U.S. cities, these five currently top the list: Indianapolis, IN, Youngstown, OH, Dayton, OH, Syracuse, N.Y., and Grand Rapids, Michigan.

 

HAMP is Starting to Look Up with a Rise in Permanent Mortgage Modifications

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

It looks like the Obama Administration's $75 billion foreclosure prevention program is making some type of progress slowly but surely. According to recent numbers, permanent loan modifications rose by approximately 13% during April of this year. Out of the total 1.2 million trial modifications, 295,348 were made permanent.

 During the trial period, homeowners received reduced monthly payments for a total of 90 days by approximately $500. In order for the modifications to become permanent, homeowners were required to make the reduced monthly payments and submit additional paper work.

However, there have been some cancellations in both trial and permanent modifications. Through the month of April, there were a total of 277,640 trial modifications canceled and 3,744 permanent modifications canceled by servicers. Failure to verify income before granting temporary modifications by servicers is said to be one of the chief reasons in the cancellation of these modifications.

In attempts to alleviate this issue, starting June 1, 2010, modifications will only be granted after verifying the homeowner’s income.

Because many have been criticizing the program's not so hasty pace, the Obama administration started pushing mortgage services to pick up the pace in the conversion of modifications from trial to permanent last December. This push from the Obama administration tripled the number of modifications.

As for the city with the most activity with the Home Affordable Modification Program (HAMP), Los Angeles-Orange County accounts for 6.2% with 57,758 modifications.

Housing Starts Spike to 40.9% According to Recent Reports

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

According to a recent government report released this week; new home construction/housing starts rose by 5.8% coming in at 40.9% during the month of April. This jump produced a seasonally-adjusted annual rate of 672,000 last month.

Economists were originally predicting a number of 655,000 starts for the month of April.

As for the specifics, there was a 10.2% rise in single family homes throughout the month of April producing an annual rate of 593,000. Multi-family homes or buildings that consist of more than 5 units came in at 68,000.

The federal tax credit which was thought to have lead to an increase in demand is also credited with having some type of impact on the spike in new home construction.

The number for building permits experienced a decrease of 11.5% with a seasonally adjusted annual rate of 606,000. However, this number is still 15.9% higher than April 2009.

Engaging Brick Bungalow @ 726 Virginia Circle, Waiting for an Owner!

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

Take a look at this wonderful brick bungalow at 726 Virginia Circle! Close to Piedmont Park, you are guaranteed to love the skyline view from the screened in front porch of this 3 bedroom, 2 bath home.

As for some of the main features in this engaging home, you will find a living room with fireplace surrounded by built-in bookcases!

Other features you are sure to enjoy includes a dining room with large south-facing windows, tiled kitchen with breakfast nook, large bedroom, hardwood flooring, ceiling fans, and bonus office space!

As for the home's exterior features you will find a side driveway which leads to a private backyard with a covered deck and fencing!

You will also find that the home's location is an easy walk to the shops and restaurants on N. Highland Avenue as well as Grady and Inman schools!

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 2394.

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 townhouse

Freddie Mac Weekly Survey Shows Mortgage Rates Below 5 Percent

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

Mortgage rates continue to decline according to a recent survey by Freddie Mac. In a weekly survey, rates actually fell below 5 percent.

According to Freddie Mac's weekly survey, the average rate of 30-year FRM's came in at 4.93% with an average origination point of 0.7 for the week ending May 13th. This rate is less than last week's 5%. Last year's 30-year FRM at this time averaged 4.86%. This is also the lowest average since December 10, 2009 when the 30-year FRM averaged 4.81%.

In addition, Freddie Mac's survey listed the average rate of 4.3% with an average 0.6 point for 15-year FRM's which was down from last week's average of 4.36%. This week's average was also down from last year's average rate of 4.52%. In addition, this is the lowest average rate for 15-year FRM's since December 3, 2009's average rate of 4.27% according to Freddie Mac.

As for the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM), Freddie Mac showed an average 3.95% with an average point of 0.6 for this week. This number is also down in comparison to last week's average of 3.97%. When comparing to last year's average rate of 4.82%, this week's number is slightly higher. The average rate for the 5-year Treasury-indexed hybrid ARM has not been this low since January 2005.

Last but not least, Freddie Mac reported the one-year Treasury indexed ARM at 4.02% with an average point of 0.6 this week, which is down from last week's average of 4.07% and last year's 4.71%. According to Freddie Mac, this is the lowest average since November 4, 2004 when the one-year Treasury indexed ARM came in at 4%.

Atlanta Housing & Real Estate Statistics for March 2010

by the zac team @ RE/MAX Greater Atlanta

Get your Atlanta housing market statistics! Direct from the First Multiple Listing Service, these numbers are published by Smart Numbers with extensive research and statistics on the Atlanta market. Here, we break down the most significant real estate numbers and put it into a quick reference format to share with our sellers and fellow agents.

The compilation shows March 2010 market statistics versus March 2009 numbers. Enjoy and please feel free to give us a call if you have any questions! And scroll down for links to a year's worth of past statistics! Our office # is 404.564.7200.

Units Closed:                      2010            2009
Single Family                       3,793           3,607
Condos/Townhomes               711             598
Total                                    4,504          4,205

(7% increase)
                

New Listings:                      2010            2009
Single Family                      10,922         10,752
Condos/Townhomes              2,099           1,987
Total                                   13,021         12,739
(2% increase)

Withdrawn:                          2010            2009
Single Family                       1,288            1,873
Condos/Townhomes                238               389
Total                                    1,526            2,253
(32% decline)

Expired:                                2010           2009
Single Family                        3,241          4,496
Condos/Townhomes                 821          1,036
Total                                     4,062          5,532
(27% decline)

Current Inventory:                  2010           2009
Single Family                         37,457        44,968
Condos/Townhomes                 8,501         9,717
Total                                      45,958        54,685
(16% decline)

Inventory:                              2010              2009
Single Family                       9.05 months    13.05 months
Condos/Townhomes             12.6 months     17.55 months

Sales Price to List Price:        2010          2009
Single Family                          93.8%        92.7%
Condos/Townhomes                 94.8%        91.6%

Average Days on Market:       2010          2009
Single Family                          113.2         112.7
Condos/Townhomes                 129.2
        117.7

Click here for the January 2010 report!
Click here
for the December 2009 report!
C
lick here for the November 2009 report!
Click here
for the October 2009 report!
Click here
for the September 2009 report!

Click here
for the August 2009 report!

Click here
for the July 2009 report!

Click here
for the June 2009 report!

Click here
for the May 2009 report!

Want more stats?
We can email you monthly reports on current listings and the last six months of sales for the following areas. Just click below for the neighborhood or condo building that you're interested in!

Click here for Atlanta’s fabulous intown neighborhoods!
(including Morningside, Virginia Highland, Candler Park, and Lake Claire real estate)
Click here for Atlanta’s Midtown condo scene!
(including 12 Atlantic Station, Plaza Midtown, Metropolis, Spire, Mayfair, and 905 Juniper mid-rise and high rise condos)

Nearly New and Gorgeous! Check Out 230 East Ponce de Leon Avenue #523!

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

Check out this lovely and nearly new one bed, one bath condo at 230 East Ponce de Leon Avenue #523!  Located in a gated community, you will be only minutes from Decatur Square.

You are sure to love features such as: large windows, hardwood floors, and a balcony with skyline views!

In addition, you will appreciate a gorgeous kitchen with stainless steel appliances, tile back splash, and a breakfast bar that opens into the living room!

Other amenities you can expect to find in this stylish community include: garage, landscaped community pool, clubroom & media room, fitness facilities, yoga room, conference center, and community bike & storage facility!

This community is conveniently located next to MARTA and also offers quick access to the airport and downtown!

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 2314.

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 townhouse

Fearful of Purchasing a Home? Take A Look at Some Common Questions/Fears of Consumers

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

Thinking about buying a home, have a few fears? Well you're not the only one, buying a home can be a little scary. Take a look at some common questions many have when deciding whether to purchase a home.

Do I have enough money to purchase?

One of the best ways to finding out the answer to this is to get pre-qualified for a mortgage. You will need to really examine your finances. Normally you should be able to afford at least 20% of the purchase price for a down payment. In addition, you should possess less than a 36 percent debt to income ratio. You will also need to be able to afford all closing cost after making a down payment.

Will I have buyer's Remorse

If you're a first time buyer you probably have in mind your dream home or whether you're a repeat buyer, however like the old saying goes "you have to crawl before you walk". It's ok if your home doesn't have exactly every single thing you desire. Remember, you're building equity. One day you will get that dream home!

Will I be able to Handle Repairs?

It's ok if you're not Mr. or Mrs. Fix it. You may want to consider taking some classes at your local Lowes, Home Depot, or other home improvement store. You may also want to invest in a handyman's guide from your local book store. Just keep in mind, there will be some type of repairs needed even in a new home at some point.

What If I need to Move?

Because most home owners want to build equity, you may not make any money on your sale if moving before 3 years of owning your home. Typically equity doesn't start to build until after owning for at least 3 to 5 years. You could also possibly lose money in closing costs.

Greetings neighbors,

Although most have heard by now that the federal First Time Home Buyer Tax Credit has expired, however there is one group who still has until next year to take advantage of the ever so popular tax credit.

Those who are members of the Armed Services now have a new deadline of April 30, 2011. This deadline is extended only to those who identify as "qualified service members" which are typically those who are members of: the uniformed services of the U.S. military, Foreign Service of the U.S., or an employee of the intelligence community.

One may ask the reasoning behind the extension for those in the Armed Services and it's a pretty simple one. Those who are a part of the armed services may have missed out on the tax credit due to being overseas serving our country.

In addition, another modification for those in the Armed Services include the waiving of the repayment of the tax credit if one moves out of their home within three years due to government order extended duty service. For those consumers who are not involved with the Armed Services, if a tax credit has been received and one decides to move out within three years, the tax credit would have to be repaid.


Displaying blog entries 11-20 of 203

Syndication

Categories

Archives

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

 

Friend, fan, or follow!
Become a friend of Zac's on facebook!  Connect with Zac on Linked In!Follow Zac on twitter! Connect with Zac on Plaxo!

Zac Pasmanick on Zillow
• Sign up for your personalized email home search: www.BestMetroAtlantaHomeSearch.com
• Why list with Zac? www.GotZac.com