Zac Pasmanick - The Zac Team

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Atlanta Housing & Real Estate Market Statistics for December 2008

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 November 2008 market statistics versus November 2007 numbers. Enjoy and please feel free to give us a call if you have any questions! Our office # is 404.564.7200.

Units Closed:                     2008        2007
Single Family                           2,994         3,609
Condos/Townhomes                   437           680
Total                                     3,431         4,289
 
(20% decline)
                

New Listings:                     2008        2007
Single Family                           7,382          8,525
Condos/Townhomes                  1,470         1,560
Total                                        8,852         10,085
(12% decline)

Withdrawn:                          2008        2007
Single Family                             1,751         2,070
Condos/Townhomes                    307            333
Total                                          2,058         2,403
(14% decline)

Expired:                                2008        2007
Single Family                             7,833         8,173
Condos/Townhomes                   1,697         1,660
Total                                          9,530         9,833
(3% decline)

Current Inventory:              2008        2007
Single Family                             45,227       52,229
Condos/Townhomes                    9,453        10,549
Total                                          54,680       62,778
(13% decline)

Inventory:                              2008             2007
Single Family                        12.7 months      16.4 months
Condos/Townhomes               16.2 months     18.2 months

Sales Price to List Price:    2008        2007
Single Family                               92.3%       95.4%
Condos/Townhomes                      94.2%       95.8%

Average Days on Market:   2008        2007
Single Family                               89.8           99.4 Condos/Townhomes                      98.3          106.6

Click here for the November 2008 report!
Click here
for the October 2008 report!
Click here for the September 2008 report!
Click here for the August 2008 report!
Click here for the July 2008 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)

If you're thinking of selling your home, we have tips on selling your home for the most money, too Just check out our guide, “How to Sell Your Home for Top Dollar Fast” which we will send to you automatically when you sign up for your home prices report.

You can also view our listing Plan of Action and Marketing Plan online anytime to get a preview of how we would get your home SOLD! Just visit www.GotZac.com.

Zac Pasmanick attends the Bill Barrett Superstar real estate workshop

by the zac team @ RE/MAX Greater Atlanta

Zac Pasmanick of the zac team @ RE/MAX Greater Atlanta attended the annual Bill Barrett Superstar Workshop at the National Association of Realtors convention in Orlando on November 4th, 2008.

 

Bill Barrett is an international real estate speaker who brings together agents from all over North America once a year to share their latest ideas and systems to give buyers and sellers better services.

 

The average agent only sells 7 to 13 homes a year, but Barrett only accepts agents into his workshop that sell more than 100 homes or $40 million in annual sales.

 

Zac was selected nationally as one of the top agents from the Atlanta area to participate in this once a year sharing event.

 

Stated by so many of the participants, “This is the best day I spend in real estate every year because I get the best ideas from the very top agents in the nation.”

 

“This is one more way to give the best possible services to the home buying and selling public,” says Zac. “I am privileged to be invited as representative of this great profession.”

Put your home buying power to work for you with opportunities in today's real estate financing!

by the zac team @ RE/MAX Greater Atlanta

When you're thinking about buying a new home (whether your first or fifth!), open house signs can draw you in you at every turn. As tempting as it is to get out there and start looking at homes immediately, the first thing you should put on the home-buying to-do list is shop for a loan.

Gone are the days you could put in an offer on your dream home and figure out how to pay for it later. Unless you have the money on-hand to front for a cash purchase, then you need to consider financing. And if you haven't purchased a home in the past several years, you may find that the mortgage market has changed quite a bit!

If you have questions about your particular situation or about the home loan possibilities out there right now, please give our Client Care Manager, Amy, a call at the zac team at 404.564.7232 or email her at amy@zac.biz!

Atlanta Housing & Real Estate Market Statistics for November 2008

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 November 2008 market statistics versus November 2007 numbers. Enjoy and please feel free to give us a call if you have any questions! Our office # is 404.564.7200.

Units Closed:                     2008        2007
Single Family                           2,385         3,748
Condos/Townhomes                   362           725
Total                                        2,747         4,473
 
(39% decline)
                

New Listings:                     2008        2007
Single Family                           8,031         10,209
Condos/Townhomes                  1,521         1,983
Total                                        9,552         12,192
(22% decline)

Withdrawn:                          2008        2007
Single Family                             1,619         2,197
Condos/Townhomes                    511            372
Total                                          2,130         2,569
(18% decline)

Expired:                                2008        2007
Single Family                             5,429         5,882
Condos/Townhomes                    906            1,060
Total                                          6,335         6,942
(9% decline)

Current Inventory:              2008        2007
Single Family                             50,161       56,721
Condos/Townhomes                   10,399       11,506
Total                                          60,560       68,227
(11% decline)

Inventory:                              2008             2007
Single Family                        13.8 months      12.5 months
Condos/Townhomes               17.15 months    13.45 months

Sales Price to List Price:    2008        2007
Single Family                               93.0%       95.5%
Condos/Townhomes                      94.5%       96.3%

Average Days on Market:   2008        2007
Single Family                               88.0           92.4 (128.1 avg. total DOM)
Condos/Townhomes                      89.5           94.7 (125.7 avg. total DOM)

Click here
for the October 2008 report!
Click here for the September 2008 report!
Click here for the August 2008 report!
Click here for the July 2008 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)

If you're thinking of selling your home, we have tips on selling your home for the most money, too Just check out our guide, “How to Sell Your Home for Top Dollar Fast” which we will send to you automatically when you sign up for your home prices report.

You can also view our listing Plan of Action and Marketing Plan online anytime to get a preview of how we would get your home SOLD! Just visit www.GotZac.com.

Reverse Offers: The benefits (and the art) of sellers writing offers to buyers

by the zac team @ RE/MAX Greater Atlanta

When you were shopping to buy a home, did your agent ever call to inform you that a seller wrote you an offer on their home? When you went to sell your home, did your listing agent assist you in writing a contract to a buyer who had seen your home? While this is a not a new practice, it is surprisingly uncommon, and an idea that is gaining steam in this buyer’s market.

At the zac team, our listing team has used this practice before to benefit our sellers and help get their homes sold. While it may be called a “seller-initiated offer,” a “preemptive offer,” or a “reverse offer,” the true question is this: how could this practice help benefit you as a buyer or a seller?

  1. Right away, a contract from a seller to a buyer generates immediate interest in the property and grabs the buyer’s attention. The lines of communication are open.
  2. To the buyer’s advantage, you can get a sneak peak into price and conditions that the seller is willing to negotiate – often slightly lower than the listed price of the home.
  3. To the seller’s advantage, you can propose a lowered price of your home without announcing it to the world in the Multiple Listing Service. You can also get the reaction of buyer to the seller’s terms and conditions to feel out what the market might be willing to give for your listing.
  4. By a listing agent making two or more offers to buyers who have seen their home for sale, they could potentially create a multiple offer situation for the seller.
  5. Getting off the fence! A reverse offer can help an indecisive buyer in making a decision about which home to buy. And shows the buyer that the seller is motivated to help get them into their new home.

As an agent, if you have a buyer who wants a home, but isn’t ready or too indecisive about making an offer or just downright scared as to what to do next, then maybe this is what the doctor ordered. Call the listing agent, explain the situation, and encourage them to convince the seller to write a reverse offer. Keep in mind, you may have to do a lot of explaining if the listing agent has no clue and can’t get past the idea that the buyer is the one who is supposed to make the offer. Once you coach the listing agent through it, then you will deal with the seller.

Reverse offers are definitely worth considering! If you have more questions about them or how they can benefit your specific situation, please give me a call at 404.564.7272 or email me, sold@zac.biz.

The zac team announces new cutting edge 80/20 compensations plan for Atlanta Real Estate Agents!

by the zac team @ RE/MAX Greater Atlanta

The zac team is proud to annouce a new commissions split plan to add to our list of services offered to our real estate agents! Thinking about joining real estate? Or ready to be more independent in your real estate career? We now have opportunities available for agents at a 50/50 split, 80/20 split, or as a listing partner.

Like to know more information? Please give Zac a call today at 404.564.7272!

Atlanta, GA Real Estate and Housing Statisics for the Month of August 2008

by the zac team @ RE/MAX Greater Atlanta

Every month, the First Multiple Listing Service publishes numbers compiled by Smart Numbers with extensive research and statistics on the Atlanta market. The 130+ page document can be a bit overwhelming, so we break it down to the basics here to share with our sellers and fellow agents. The summary compares August 2008 numbers with August 2007 numbers. Enjoy and please feel free to give us a call if you have any questions! Our office # 404.564.7200.

Units Closed:                     2008        2007
Single Family                           3,736         5,421
Condos/Townhomes                   572          1,009
Total                                        4,308         6,430
                 

New Listings:                     2008        2007
Single Family                           11,078       14,262
Condos/Townhomes                  2,097         2,598
Total                                        13,175       16,860

Withdrawn:                          2008        2007
Single Family                             2,394         3,178
Condos/Townhomes                    398            543
Total                                          2,792         3,721

Expired:                                2008        2007
Single Family                             6,321         6,128
Condos/Townhomes                   1,242          1,111
Total                                          7,563         7,239

Current Inventory:              2008        2007
Single Family                             54,691       58,971
Condos/Townhomes                   10,814        11,534
Total                                          65,505       70,505

Inventory:                              2008        2007
Single Family                        14.4 months   12.3 months
Condos/Townhomes               16.8 months   12.55 months

Sales Price to List Price:    2008        2007
Single Family                               94.6%       96.5%
Condos/Townhomes                      95.3%       96.6%

Average Days on Market:   2008        2007
Single Family                                91.1            87
Condos/Townhomes                      104.4          94.2

 

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)

If you're thinking of selling your home, we have tips on selling your home for the most money, too Just check out our guide, “How to Sell Your Home for Top Dollar Fast” which we will send to you automatically when you sign up for your home prices report.

You can also view our listing Plan of Action and Marketing Plan online anytime to get a preview of how we would get your home SOLD! Just visit www.GotZac.com.

Atlanta, GA Real Estate and Housing Statisics for the Month of July 2008

by the zac team @ RE/MAX Greater Atlanta

Every month, the First Multiple Listing Service publishes numbers compiled by Smart Numbers with extensive research and statistics on the Atlanta market. The 130+ page document can be a bit overwhelming, so we break it down to the basics here to share with our sellers and fellow agents. The summary compares July 2008 numbers with July 2007 numbers. Enjoy and please feel free to give us a call if you have any questions! Our office # is 404.564.7200.

Units Closed:                     2008        2007
Single Family                           3,803         5,763
Condos/Townhomes                   674          1,045
Total                                        4,477         6,808
                 

New Listings:                     2008        2007
Single Family                           12,206       14,233
Condos/Townhomes                  2,181         2,587
Total                                        14,387       16,820

Withdrawn:                          2008        2007
Single Family                             2,647         2,618
Condos/Townhomes                    472            391
Total                                          3,119         3,009

Expired:                                2008        2007
Single Family                             5,993         5,498
Condos/Townhomes                   1,119          1,117
Total                                          7,112         6,615

Current Inventory:              2008        2007
Single Family                             56,547       58,520
Condos/Townhomes                   11,073        11,361
Total                                          67,620       69,881

Inventory:                              2008        2007
Single Family                        14.4 months   11.9 months
Condos/Townhomes               16.6 months   12.15 months

Sales Price to List Price:    2008        2007
Single Family                               92.9%       96.8%
Condos/Townhomes                      96.2%       97.0%

Average Days on Market:   2008        2007
Single Family                                86.8           83.4
Condos/Townhomes                       101            94.7

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)

If you're thinking of selling your home, we have tips on selling your home for the most money, too Just check out our guide, “How to Sell Your Home for Top Dollar Fast” which we will send to you automatically when you sign up for your home prices report.

You can also view our listing Plan of Action and Marketing Plan online anytime to get a preview of how we would get your home SOLD! Just visit www.GotZac.com.

$7,500 Federal Tax Credit for First Time Buyers - Make Sure You Understand the Details!

by the zac team @ RE/MAX Greater Atlanta

The Federal government announced a new tax credit program for first-time home buyers this month as part of the Housing and Economic Recovery Act of 2008 (which is great news that we annouced in an ealier blog posting), however, we just want to make sure that everyone has a clear understanding of how the program will work.

Essentially, the "tax credit" works like an interest-free loan from the government to be repaid over 15 years. For those of you not familiar with the program, The Housing and Economic Recovery Act of 2008 offers some amazing benefits for first time homebuyers.  Call everyone you know who wants to buy their first home (or who hasnt owned one in three years) -- this is too good to miss! Its a $7,500 tax CREDIT (not deduction but a credit).

If you have not owned a home in three years, you are a first time home buyer.  If you buy a home after April 9, 2008 and before July 1, 2009, you qualify for a credit.  Call your friends who just bought a home since April 9th and tell them they may take $7,500 off their tax bill if they qualify.  It has to be your principal residence, so rentals do not count.

The tax credit is 10% of the cost of the home, up to a maximum of $7,500.  So, if the home costs $100,000, you would get a credit of $7,500.  This is not an additional deduction that lowers the amount of income to be taxed, it is a tax credit.  In other words, you take $7,500 off your tax bill.  What if your tax bill is only $5,000?  The IRS will send you the additional $2,500 as a refund.  When was the last time the IRS sent you a refund because you bought something?

The loan has no interest, and will be paid back over 15 years.  You get the credit on your 2008 taxes, but you start paying it back on your 2010 taxes that are due in 2011, so you get at least two years without a payment.  You pay back 6.67% of the credit each year, so for a $7,500 credit the payment is $502.50 per year.  If you stay put for 15 years, you pay it off with no interest.

What happens if you sell the house?  You pay the balance back at the closing.  So, you get $7,500 now, and pay the rest of it back if you make money on the sale of your house.

What happens if you do not make enough money when you sell your house?  They forgive the rest of the debt.  In other words, get $7,500 now and pay back nothing if your house only breaks even, or loses money, at closing.  When was the last time you got a loan on a speculative venture where the person who gave you the loan forgave the rest of the loan if you did not make enough profit on the sale? 

The risk of loss in buying now is on the government.  In other parts of the country where real estate is going down in value, you can lose 10% of the value of the home (up to $7,500) and the loss is covered by the fact that you do not pay back the tax credit.  Atlanta real estate that first time buyers can afford is out there, so we are not as worried about the risk of loss.    

Similarly, if you die before repaying the debt, it is forgiven.  There are special rules for sales as a result of divorce or if the government takes your property by condemnation.

There are restrictions on the amount of income that you can make and still get the credit.  But the restriction is $75,000 per year for a single person and $150,000 for a couple filing jointly, so the vast majority of people qualify.   If you make more than that, you can still get some of the tax credit, but there are complicated rules about phasing out the credit as the income goes up.  If you make that much money, you can afford to hire someone to figure out the formula.

There are minimal restrictions on the financing and Pat Griffin, our in-house mortgage consultant with Greater Atlanta Financial Services (an affiliate of Wells Fargo), can help explain those to you. You can visit her website at www.patgriffinloans.com.  Nearly every loan allows you to get the tax credit!

What is the catch?  You have to buy your first house in three years before July 1, 2009, not have super high income, not use bond financing and buy anywhere in the U.S. If you have any questions, please feel free to give us a call at 404.564.7200 or email zac@zac.biz. Thanks!

Classic Virginia Highland bungalow now for sale at 861 Arlington Place, Atlanta, 30306!

by the zac team @ RE/MAX Greater Atlanta

Live your dreams in this updated, professionally landscaped four bedroom and two bathroom two-story bungalow on a tree-lined street near shops! This superlative residence highlights hardwood & slate flooring, large family room with sauna, formal dining room, attractive bedrooms, secluded den, many built-in bookcases, ceramic tile baths plus a multi-level back deck. Updated kitchen boasts stone countertops, a butler’s pantry, and a breakfast nook. Throughout the home, you will find crown moldings, favored Berber carpeting, and subtle recessed lighting.

Enjoy the intown life in Virginia Highland from your large covered front porch. The manicured, terraced garden is shaded by large trees where you can relax on your stone patio. The garden leads down into a large open grassy area perfect for pets or a kids’ soccer game! Newly painted exterior, security system, complete appliance package! Come home to an air of comfort and welcome!

Click here for the virtual tour!

Can you envision your life in this home? Then give our office a call today at 404.564.7200!

We also offer monthly Homebuyer Workshops in our intown office and the next one is THIS SATURDAY, July 12th, from 10 a.m. - 12 p.m. Knowledge is power - especially when it comes to buying a home! So reserve your spot today by calling MJ Stanton at 404.564.7268! Hurry - seats are limited!!

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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

 

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