Zac Pasmanick - The Zac Team

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Displaying blog entries 21-27 of 27

Anticipated Drop in Pending Home Sales Come True

by the zac team at Ponce Realty

Hello neighbors,

According to the National Association of Realtors, pending home sales took an anticipated dive after the expiration of the home buyer tax credit.

The Pending Home Sales Index experienced a 30% drop to 77.6 based on contracts signed in May 2010 in comparison to April's number of 110.9. In addition, this number is 15.9% below May 2009's average of 92.3.

This data from the NAR is actually based on contracts and not closings. However, many closings have been delayed due to factors such as a rush of buyers due to the tax credit and the dragging process of short sales. Approximately 180,000 buyers who signed contracts by April 30th may have missed the tax credit deadline's closing date of June 30th, however a recent extension from Congress will expand the closing deadline for delayed contracts.

Some industry experts feel there's a good chance for prices to start accelerating in the upcoming years if the already existing low levels of new home construction continue for the next year or two.

Stats:

The PHSI in the Northeast fell 31.6% to 67.0 in May and is 14.8% lower than May 2009. In the Midwest the index dropped 32.1% to 70.8 and is 20.2% below a year ago. Pending home sales in the South fell 33.3% to an index of 82.5, and are 14.4% lower than May 2009. In the West the index declined 20.9% to 85.3 and is 15.1% below a year ago.

Thinking About an FHA Loan? Check out a Few Factors Borrowers Should Know

by the zac team at Ponce Realty

Greetings neighbors,

With the growing popularity of FHA loans amongst home buyers, there is a lot of misconception regarding these loans that are mortgages issued by qualified lenders and insured by the Federal Housing Administration. Take a look at some factors borrowers should know regarding FHA loans.

FHA loans are not only for borrowers in the lower-income bracket:

There is no income restrictions associated with FHA loans and they are available to everyone. However, borrowers are required to show proof of income and assets through proper documentation to ensure they will be able to afford a home.

FHA loans are not only for first time buyers:

FHA loans are for first time buyers, 2nd time buyers, 3rd time buyers, and so forth. Those in the market to buy a home can look into FHA loans as an option.

FHA loans are not necessarily small amounts; some can be over the amount of $700,000:

Recently there has been an increase in the maximum amount of the original cap of $362,790 to $793,750 of FHA loans by the government to help keep the housing market stabilized. Based on what county you live in determines the amount of money that can be borrowed.

FHA loans are not in conjunction with section 8:

Even though both programs are provided by HUD, FHA loans are not affiliated with section 8, these mortgages are only insured by the Federal Housing Administration. This insurance enables lenders to lend more freely knowing they will be repaid even in the event of a default by the borrower.

FHA loans are often more affordable than conventional loans:

Normally, borrowers will find that FHA loans offer the same interest rates as other loans however, FHA loans offer a lower down payment, some as low as 3.5%.

Fourth of July in Atlanta, Check out What's Going On

by the zac team at Ponce Realty

Greetings neighbors,

Happy Independence Day! As we all know the city is going to have plenty of events and fireworks on this lovely holiday. Look at what the Zac Team has found to do around town to celebrate!

Lenox Square

Come out and celebrate at Lenox! Enjoy legendary activities such as: Kids Zone, live musical entertainment, and of course the Fireworks at Lenox Square Mall - 3393 Peachtree Rd. NE, Atlanta, GA, 30326, (404) 233-6767. Time: 12:00pm

Centennial Olympic Park

Celebrate at Atlanta's Centennial Olympic Park, home of the 1996 Olympic games! 265 Park Ave West N.W., Atlanta, GA, 30313, (404) 222-7275. Festival begins at noon and music starts at 5pm.

W Atlanta Downtown's Red White & Cool July 4th Celebration

Why not make this July 4th celebration an over-nighter with an overnight package at the W Atlanta Downtown? 45 Ivan Allen Jr. Boulevard, Atlanta, GA, 30308, (404) 582-5800. Time: 12pm - 4pm. Price: $249

Atlanta Braves

How about celebrating our country's independence with the Braves as they take on the Florida Marlins at Turner Field - 755 Hank Aaron Dr., Atlanta, GA, 30315, (404) 577-9100. Game time: 5:05 pm. Ticket Info.

Celebrate at the Glenn Hotel Rooftop

Come and grab a seat and have access to a spectacular view at the Glenn Hotel Rooftop - 110 Marietta St. NW, Atlanta, GA, 30303. Time: 6pm. Price: From $20-$300.

Fourth of July at Whiskey Blue

Come out and relax and enjoy the fireworks on the rooftop of Whiskey Blue at W Atlanta - Buckhead - 110 Marietta St. NW, Atlanta, GA, 30303. Time: 5pm, Price: Tickets starting at $25.

Fourth of July Celebration at the Mansion on Peachtree

Come celebrate America's independence at the Mansion on Peachtree. You will enjoy their featured exclusive All-American gourmet barbecue at 3376 Peachtree Rd., Atlanta, GA, 30326, (404) 995-7545. Time: 5:30pm.

July 4th Blowout @ D.B.A Barbecue with Mudcat

Come and enjoy Mudcat and his band this 4th of July in Virginia-Highlands at D.B.A Barbecue - 1190 N. Highland Ave., Atlanta, GA, 30306, (404) 249-5000. Time: 11:30am - 9pm.



Celebrate your independence from real estate fees with 100% commission!

by the zac team at Ponce Realty

If you are a metro Atlanta real estate agent searching to find stable ground in this new ecenomy, consider this! I am so confident about the future of the Atlanta real estate market that, after 31 years in real estate, I am excited to announce Atlanta's newest real estate solution - Ponce Realty! In my efforts to reinvent brokerage services to adapt to this new economy, I have rebranded my office under the new brokerage in our present Poncey-Highland location.

Zac Pasmanick announces Ponce Realty - Atlanta's newest real estate solution!Our #1 goal is to offer high quality brokerage services at the best value, available in a very agent-centric environment. Our new model is all about simplicity. We are offering an 80/20 split with a $6,000 yearly cap - and then 100% commission after that. There is a $25 E&O premium fee per closing and a $50 monthly membership fee. Team members will cap at $3,000 per year and spouses always earn 100% commission!

Another benefit is covering the cost for the initial signs and business cards. Additional services provided by Ponce Realty include personal website with lead management, paperless document manager, email, voicemail, efax, and daily training with my 31+ years of experience. Our goal is to embrace green - in more ways than one!

I am committed to the success of the real estate community. Please give my Managing Broker, Mary Jane Parker, a call directly at 404.564.7268, or call me to find out more at 404.564.7272. You can visit us online at www.PonceRealty.biz.

> > > > >  Welcome to the new normal.  < < < < <

Second Quarter 2010 Home Price Survey

by the zac team at Ponce Realty

Hello neighbors,

HomeGain recently released it's 2nd quarter 2010 home prices survey which revealed that 75% of homeowners believe their homes are worth more than the listing price.  In addition, 49% of U.S. homeowners believe prices will stay the same for the next six months.

As for the increasing values of their homes, 28% of homeowners believe the value of their home will increase within the next six months. However, only 20% of agents and brokers believe this theory. In addition, 23% of homeowners expect their home's value to decrease within the next six months with 33% of agents and brokers predicting the same outcome.

The report also showed that 61% of agents surveyed stated that their home buying clients feel homes in today's market are overpriced.

HomeGain provides free online instant home prices and is one of the first sites to do so.

Tax Credit Closing Deadline Extended

by the zac team at Ponce Realty

Hello neighbors,

As many may already know, the House of Representatives recently introduced and passed a proposal for the extension of the closing deadline for buyers wanting to take advantage of the $8000 tax credit.

With the original closing deadline of June 30th, the Home Buyers Assistance Act of 2010 would extend the closing deadline another 3 months to September 30, 2010 (midnight), on contracts signed by the midnight April 30th deadline.

The National Association of Realtors predicts at least 180,000 will "bust" the June 30th deadline. The next step for the proposal is for it to be forwarded to the Senate.

Even with the extension, there is still a possibility that some closings will not make it due to some contracts stating the deal must be closed by June 30th.

The vote passed by a number of 409 to 4 in which 18 members did not vote.

Elevate Your Real Estate Business, Star Power Conference 2010

by the zac team at Ponce Realty

Greetings neighbors,

Have you heard the latest about Star Power? Well it's official, Star Power is being re-launched under new leadership! As a STAR POWER Star it's incredibly exciting to be involved in the continuation of STAR POWER into a new era of industry leadership.

The 2010 Conference has been booked and this year's key note speaker is Dave Ramsey. I do not personally profit if you sign up on my recommendation, but if you try to sign up without going through me it is going to cost you extra money.

I'm proud to be a part of this extraordinary organization helping thousands of agents across the country learn how to be more successful, both professionally and personally. Agents interested in elevating their business should definitely look into going to STAR POWER Conference. For more information and for an exclusive $100 off click here!

We look forward to seeing you there and remember: STAR POWER is ... Success Shared™.

Displaying blog entries 21-27 of 27

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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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