We have a wonderful home for you and your family to check out at 10905 Wittenridge in Alpharetta. This 3 bedroom, 2.5 bath home is just minutes from Northpoint Mall and a plethora of restaurants!

You will appreciate the home's updated designer paint and Faux hardwood floors through the entry and kitchen. In addition, the open floor plan is great for an eat-in kitchen or dining area leading into the formal living area! Other notable features and appliances of the home's kitchen include the view to the family room, dishwasher, electric oven/range, and patio!

The new owner/owners of this wonderful home will also appreciate nice sized bedrooms that are constructed on a roommate styled floor plan.  Also you will simply love the master bath with features such as a double vanity, garden tub, and separate shower/bath!

Other features of this lovely traditional home include: ceiling fans, thermal paned windows, fireplace, 9 ft ceilings, and 2-story foyer!

For the exterior features of the home you will find a level driveway, 1 car garage, and professional landscaping. As for amenities within the community you and your family are sure to enjoy the playground area and swimming pool!

View pictures here!

As for this week's mortgage rates, according to Freddie Mac, the 30-year fixed rate mortgage fell yet again creating record lows for the week ending today producing an average 4.36% with an average point of 0.7. Last week, the average rate for the 30-year fixed rate mortgage came in at 4.42%.

The 15-year fixed rate mortgage produced an average of 3.86% and average 0.6 point, which was also down from the previous week's average of 3.90%.

In addition, Freddie Mac reported an average 3.56% and average 0.6 point for the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) this week. This number is unchanged from last week's average.

Lastly, the 1-year Treasury-indexed ARM produced a weekly average of 3.52% with an average 0.7 point. This number showed a slight decrease from last week's average of 3.53%.

This 3 bedroom, 2 bath home features a large open floor plan...

...with an open kitchen leading to a large den and sun room.

Huge enclosed sun room overlooking your own private backyard!

Gigantic full basement with interior access that gives you twice as much space. Beautiful Sagamore Hills street makes this a great family home convenient to everything.

The compilation shows July 2010 market statistics versus July 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.

                   
Click here for the May 2010 report!
Click here for the April 2010 report!
Click here for the February 2010 report!
Click here for the January 2010 report!
Click here for the December 2009 report!
Click 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!

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)

Great location compliments this 3 bed, 1.5 bath California style ranch home!

Beautiful knotty pine cathedral ceilings & beams add a rustic, warm feel to this home.

The open floor plan is perfect for entertaining.
Large floor to ceiling windows provide views to a patio and parklike private backyard featuring mature azalea bushes and trees throughout.

All appliances included! The kitchen, with breakfast bar, and den both overlook your spacious family room with brick hearth and fireplace. Paved sidewalks make an easy walk to the nearby Marta stop or to the city park and conservation areas. Ample storage space through home, plus attic and basement.

Wondering if buying a home in the U.S. is still affordable? According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), the answer to that question is yes. The index shows home affordability around the country is at its highest level for the 6th month in a row.

Out of the total number of all new and existing homes that were sold during the 2nd quarter of 2010, the HOI reported that 72.3% were affordable to U.S. families making at least $64,000 which is the national median income.

In addition, the 2nd quarter of 2010 proved to be slightly more affordable when compared to the previous quarter.

As for the most affordable area in the country during the 2nd quarter, Syracuse, NY came in at the top of the list for the most affordable with 97.2% of the area's homes affordable to U.S. families making $64,300.

Other major metro markets among the most affordable include: Detroit-Livonia-Dearborn, Mich.; Youngstown-Warren-Boardman, Ohio-Pa.; and Buffalo-Niagara Falls, N.Y.

On the flip side, the least affordable major markets noted on the HOI included: San Francisco-San Mateo-Redwood City; Santa Ana-Anaheim-Irvine, Calif.; Los Angeles-Long Beach-Glendale, Calif.; and Honolulu.

Take a look at this adorable, 3 bedroom, 2.5 bath home located at 240 Willisford in Alpharetta. This colonial styled/brick home is perfect for a new family!

With features such as hardwood flooring throughout and 9ft ceilings, you and your family will take pride in calling this place your home.

The kitchen of this lovely structure will be more than one could ask for including appliances such as electric range/oven and dishwasher. In addition, you will appreciate the breakfast area, breakfast bar, cabinets, pantry, and stone counter tops.

You and your family are sure to enjoy the homes family room, separate living room, as well as the separate dining room which is perfect for family dinners and gatherings!

As for the home's exterior features you will find a 1 car garage for your parking convenience as well as professional landscaping and street lights.

If you and your family have been searching for the right home at the right price then look no further.

View pictures here!

Looks like mortgage rates around the country continue to fall as well as break record lows.

According to Freddie Mac's weekly survey, the number for 30-year fixed rate mortgages experienced yet another drop, settling at 4.42% which is a record low for the week ending today.

As for the 15-year fixed rate mortgage around the country, this week's number remained unchanged from last week's 3.9%.

U.S. mortgage rates have experienced significant drops for nine straight weeks.

According to a recent survey by the Mortgage Bankers Association (MBA), the act of mortgage refinancing rose 17.1% last week. With the recent rise, mortgage refinancing make-up 81.4% of the total number of mortgage applications.

This number has also proven to be at its highest level since May 2009 as well as the refinancing share of overall mortgage applications being at its highest since last January.

As many who follow the real estate market may recall, mortgage rates began hitting all time lows during the early part of the year and continue to break records with 15-year fixed rate mortgages currently below 4% and 30-year fixed rates averaging between 4.25% -4.5%.

In addition, there was a 13% rise in the MBA's seasonally adjusted market composite index in comparison to the previous week. As for the seasonally adjusted purchase index, there was a decline of 3.4% when compared to the previous week and 38.6% lower than last year's number.

With short sales being pretty prominent today in the real estate market, many buyers are cashing in on some great deals. With more and more homeowners finding themselves in the market to sale, short sales are significantly rising and seems to be the way to go. Take a look at a few helpful hints on how you can find a great short sale deal of your own.

Finding a Short Sale Property:

Short sale listings are typically listed by real estate agents and can be found on local sites as well as MLS feeds. In addition, key phrases such as: subject to bank approval, preapproved by bank, and headed for auction are clues that a property may be listed as a short sale.

Choosing a Real Estate Professional:

When choosing an agent, make sure to select someone with short sale experience. Because the short sale process is more tedious, having a real estate professional that is trained and knowledgeable about short sales will prove to be very beneficial.

Assess the Property's Mortgage and Liens:

A knowledgeable agent will be very beneficial in determining how much the property's mortgage is worth. You will need to find out how much has been paid by the current owners and when it was paid. In addition, you will need to determine the amount of liens on the property. Last but not least you will need to find out which lender is the primary lien holder and check out other sales in the area.

Get a Home Inspection:

Because short sales are normally sold as is, it will be very beneficial to have a complete home inspection before signing the dotted line. If you purchase a home through a short sale but later find out about major/expensive repairs then you're not really saving any money.

Write a Complete Offer:

The lender will actually determine whether or not your offer is accepted, not the owner. With that being said, take it upon yourself to write a short sale offer and be sure to include the following: cover letter, signed owner/borrower short sale purchase agreement, seller hardship letter, seller payroll stubs, two years of seller tax returns, market comparables, HUD-1 closing net sheet, repair cost estimate, and pictures of the property.

Negotiate:

Like with any deal, always be open to negotiations. If your first written offer is rejected, you will need to come back with an even higher offer. You should be mentally prepared to make higher offers or walk away if the price doesn't agree with your finances.

Patience is a Virtue:

Like the old saying goes, patience is definitely a virtue. Because short sales are in high demand these days, lenders are swamped. Therefore, you will need to be prepared to wait for not just a few weeks but possibly months.



Following the trend in recent weeks, mortgage rates set new record lows yet again for the 8th week in the row according to Freddie Mac's Primary Mortgage Market Survey.

According to Freddie's survey for the week ending today, August 12th, 30-year FRM's came in at an average rate of 4.44% with an average 0.7 origination point. This number showed a decrease from last week's average of 4.49% and last year's average of 5.29%.

In addition, the survey showed a decrease in 15-year FRM's as well with an average rate of 3.92% and an average point of 0.6 when compared to last week's average of 3.95%. This number is also lower than last year's average of 4.68%.

The 5-year ARM came in this week averaging 3.56% with an average origination point of 0.7 in comparison to last week's 3.63% and last year's average of 4.75%.

Last but not least, the one-year Treasury-indexed ARM came in at 3.53% with an average point of 0.7 on the weekly survey in comparison to 3.55% last week. This time last year, the one-year Treasury-indexed ARM averaged 4.72%.

Foreclosure filings have shown a decline in comparison to a year ago at this time according to recent data released by RealtyTrac. Last month's foreclosure filings reported a 9.7% drop from July 2009 producing the second consecutive month of yearly declines.

After enduring a 1% increase 3 months ago during the month of May, filings witnessed a 6.9% annual drop the following month in June and the almost 10% drop last month in July.

There were a total of 325,229 properties that received foreclosure filings last month which produced a 4% increase from May.

In addition to the decline of annual foreclosure filings, default notices also showed an annual decline in comparison to this time last year. There were a total of 97,123 properties that received default notices last month which was a 28% decrease from July 2009. However, in comparison to the previous month, this number increased by 1%.

RealtyTrac also reported a total of 92,858 properties that were placed back in the banks hands as REO's last month. This number was 1% below May's number of 93,777.

Take a look at this large and spacious 4 bedroom, 3 bath home in the delightful neighborhood of Morton Plantation.

This home is sure to impress you and your family with interior features such as: a 2-story foyer, entrance foyer, hardwood floors, family room, sun room, ceiling fans, fireplace, and finished basement.

The cook of the family will simply adore the home's renovated kitchen with ample appliances such as: a dishwasher, garbage disposal, gas oven, and microwave. In addition to the appliances, you will appreciate features such as: a breakfast area, stained cabinets, stoned counter tops, pantry, and a view to the family room.

In addition, you are guaranteed to enjoy spacious bedrooms and a master bath with vaulted ceilings, Separate tub/shower, garden tub, and double vanity!

You will also find that this home has a combined living room and dining room providing even more space for family time and fun!

As for you exterior features you will appreciate the home's two car garage, front porch, and professional landscaping.

Your family will also appreciate the amenities of the neighborhood which includes a playground, swimming pool, and tennis court.

If you're looking for a lot of home for your money, look no further, short Sale Potential!

Check out pictures of your potential home here!

Check out this beautiful brick and cedar home at 2517 Kickerillo in Parkside Walk. This nearly new craftsman home will capture your heart with its sophisticated style and neutral color scheme!

With features such as hardwood flooring, double decks, indoor/outdoor fireplaces, and an open floor plan, this home is an owners dream at an unbelievable price!

You will find the kitchen of the home is loaded with appliances such as: a dishwasher, self cleaning gas oven, and microwave. In addition to the appliances, you will love the features such as: breakfast area, breakfast bar, stained cabinets, pantry, wine rack, and stoned counter tops.

You are sure to love the master bath with features such as: double vanity, whirlpool garden tub, and separate tub/shower!

Other interior features of this lovely home that you are sure to enjoy include: 2-story foyer, 9+ ft. ceilings, trey ceilings, entrance foyer, laundry room, and walk-in closets!

As for the home's exterior features, you will appreciate the 2 car garage with auto garage door opener, front porch, deck, and professional landscaping.

This home will not last long at this price, click here to view!

There has been an increase in the amount of mortgage applications according to a recently released survey from the Mortgage Bankers Association (MBA). According to the survey which ended the week of July 30th, there was a 1.3% increase of the Market Composite Index which measures the volume of mortgage loan applications. This increase was on a seasonally adjusted basis from the previous week. When looking at an unadjusted basis there was a 1.4% increase when compared to the previous week.

The survey also reported a 1.3% increase in the refinance index when compared to the previous week. There was a 1.5% increase in the seasonally adjusted Purchase Index as well as 3.4% increase in government purchase applications which was said to have contributed to the increase of the Purchase Index for the third week in a row. In addition, the unadjusted Purchase Index showed a 1.5% increase when compared to the previous week.

As for the four week moving average for the seasonally adjusted Market Index there was a 0.3% increase. In addition, there was a 0.9% increase in the four week moving average for the seasonally adjusted Purchase Index, while this average is up 0.2% for the Refinance Index.

The survey went on to show that the refinance share of mortgage activity stayed flat with 78.0% of total applications from the week prior. Adjustable-rate mortgages actually decreased from the previous week's percentage of 5.7 to 5.4 of total applications.

In addition, the survey showed a decrease from 4.69% to 4.60% in the average contract interest rate for 30-year FRM's with an increase of points from 0.88 to 0.93 (including the origination fee) for 80 percent loan-to-value ratio loans.

There was a decrease to 4.03% from 4.12% in the average contract interest rate for 15-year FRM's with point increases from 0.83 to 1.01 (including the origination fee) for 80 percent LTV loans. This number marked the lowest ever recorded in MBA's survey.

Lastly, one-year ARM's average contract interest rate declined from 7.15% to 7.10% with points decreasing from 0.23 to 0.21 (including the origination fee) for 80 percent LTV loans.

Take a look at this 2-story, all brick home located at 1503 Pangborn Station Dr. in Decatur. You are sure to love this 4 bedroom, 2.5 bath home with a bonus 3rd level finished room that would be perfect for a media room!

With appliances such as: a dishwasher, garbage disposal, electric oven, microwave, and eat-in breakfast bar, the cook of the family will have no choice but to be content while preparing meals in the home's updated kitchen.

Other interior features that you should definitely appreciate include: hardwood flooring, an entrance foyer, and cable modem.

You will also find that this gorgeous home has a separate dining room, living room, and fireplace!

The new owners of this home will also find nice sized bedrooms with a superbly updated master suite bath with separate tub and shower!

In addition, you are sure to enjoy relaxing on your back deck with hot tub!

Other exterior features of the home include: gorgeous landscaping, front porch, fenced yard, driveway, and attached two car garage!

This wonderful home is a must see, come check it out!

View pictures here!

According to recent numbers produced by the National Association of Realtors, the index of pending home sales showed a decline of 2.6% to 75.7 with contracts signed in June when compared to an upwardly revised level of 77.7 in May. When compared to last year's number, the current pending home sales index decreased by 18.6% from 93.0 in June 2009.

Some economist say the market expects lower home sales for the short term in addition to slow home sales activity before gaining momentum pending the job market of course.

As for a more in depth look regionally for the PHSI: the Northeast experienced a 12.2% drop to 58.8 in June which is 25.4% lower than June 2009, the Midwest index fell 9.5% to 64.1 and is 27.8% lower than last year, the South experienced a 3.7% increase to an index of 85.8, but are 13.3% below last year's index, and the West dropped to 0.2% to 85.1 but is 14.2% below last year's number.

We continue to see record lows in mortgage rates throughout the country. According to recent numbers reported by Zillow, their weekly update showed that the 30-year FRM dropped from week to week nationally and hit an average of 4.28%. In comparison to last week's number, the current rate is down 0.1% producing another record low yet again.

Regionally, most of the 50 states witnessed a drop in mortgage rates.

In addition, Zillow reported a national average of 3.85% for 15-year fixed home loans while the rate of 5-1 adjustable-rate mortgage ARM came in at 3.27%.

Even though the real estate market is starting to look more and more appealing everyday with factors such as record low mortgage rates and affordable home prices, those in the market to buy a home still have one major concern. That one concern is, getting approved for a home loan. In today's economy lenders are tightening up on their lending standards. Here are the top 7 reasons you or someone you know may get denied for a home loan.

Poor Credit:

Even though a buyer may have a pretty hefty down payment or good equity built up in their home, if their credit score is not too appealing the chances of obtaining a new home loan or refinance from traditional banks are not too great. Lenders are starting to look for above average credit scores.

Insufficient Liquidity:

Banks are not too keen with taking risk on buyers who do not have a down payment of at least 20%-30% and strong excess liquidity.

Lack of Income:

One may think because he or she has a sufficient down payment (20%-30%), a great deal of equity in their home, and a great credit score that the process of obtaining a loan will be a breeze, think again. Banks want to see at least 2 to 5 years of consistent proof of income. This factor may be somewhat challenging for retired borrowers.

Lying on the Application:

As the old saying goes, lying will get you nowhere and lenders are firm believers in this saying. If you've decided to stretch the truth on your application you've basically decided you don't want to be approved. A few words of wisdom, tell the truth.

Debt:

As with many things, debt is not necessarily a good look. If the borrowers debt to income ratio is not too appealing, the chances of being approved are pretty slim.

Unemployment:

As we mentioned in reason number 3, lenders are looking for at least 2 to 5 years of consecutive work history.

Self Employment:

Although entrepreneurship can be consider a good thing and great accomplishment, lenders are becoming reluctant in approving home loans to borrowers that are self employed.

Although many may think lenders are almost making it impossible for the average borrower to obtain a home loan, one way to look at these changing standards is to remember that this will only better the housing market in the long run.

According to recent reports, The Obama Administration has decided to hold a conference in August to determine the fate of Fannie Mae and Freddie Mac after being criticized for not having a set plan for the mortgage giants.

As for a little background of the two, these companies were created by the U.S. government as a combination of private company and federal agency to assist with the availability of mortgages. The two companies purchase home loans from lenders, package them into bonds with a guarantee against default, and sell them to investors. Both companies combined own or guarantee approximately 31 million home loans in the U.S. that are worth more than $5 trillion. This number makes up more than half of all the country's mortgages.

Two years ago, the two companies started experiencing financial difficulty and was soon taken over by the government.

Early this week, the Obama Administration said they will hold the conference on August 17th at the Treasury Department.