Real Estate Information

Hello neighbors,

If you haven't heard, mortgage rates are at a low and are currently at their lowest level in five weeks. For the past five out of seven weeks, rates have been under five percent.

As of November 12th, 30-year fixed mortgage rates were 4.91 percent which were down from the previous week of 4.98 percent. Around this time last year, the average 30-year mortgage rate was approximately 6.14 percent.

In addition, 15-year fixed rates were at an average of 4.36 percent this week which is still below 1 year adjustable rate mortgages of 4.46 percent.

Seeking real estate advice contact the zac team @ RE/MAX Greater Atlanta.

Greetings neighbors,

Looks like the economy as well as the housing market may actually be on the rise based on the latest from the National Association of Realtors.

This rise is largely in part to the extension of the first time home buyers tax credit which has had a much larger impact than expected. It is now estimated that there will be between 2.3-2.4 million first time home buyers by the end of the year.

According to a study by the NAR, there has been a 6 percent increase in first time buyers purchasing homes, with 47 percent this year and only 41 percent who purchased homes last year in 2008.

It is expected for existing home sales to reach 5.01 million dollars this year which is a 2 percent increase compared to last year. The expected existing home sales forecast for 2010 is 5.69 million which will be an increase of 13.6 percent.

In addition, the NAR also reported that the 30-year fixed - rate mortgage will average approximately 5.3 percent in the fourth quarter and is expected to rise to 5.8 percent by December 2010.

Hello all,

With history dating back to the early 19th century, Little Five Points plays a significant part of Atlanta's history. The desires of two men, Joel Hurt and Samuel M. Inman, to begin a residential neighborhood eventually lead to the beginnings of Inman Park.

Both men decided to come together and formed the East Atlanta Land Company in 1866. Out of the formation of the East Atlanta Land Company came the development of the residential suburb of Inman Park, which was one of the main goals of the two men. Shortly after, Mr. Hurt felt that the only way for their suburb to be successful was for it to have quality transportation, which eventually leads to the founding of Atlanta & Edgewood Street Railroad Company. Known as Atlanta's first electric railroad, Atlanta & Edgewood Street Railroad Company opened on August 22, 1889. With Atlanta's new railroad, of course new roads had to be built for the tracks on which the train could run. This expansion eventually leads to the formation of Candler Park Edgewood and it's incorporation in 1908 to the city of Atlanta. From these roots, the area of Little Five Points was born and became known as a commercial area.

Although the area hit somewhat of a downfall in the 1960's due to factors such as racial integration, by the mid 70's Little Five Points was on it's way back up with the help of Atlanta Community Development Block Grant of 1975. In addition, other establishments such as credit unions and bookstores were opening up and eventually Little Five Points came back to life.

Today, Little Five Points is a thriving community with plenty of entertainment, shopping, and dining. With restaurants such as The Vortex or Little Five Corner Tavern to shops such as Cherry Bomb, a visit to Little Five Points will definitely satisfy your soul.

Greetings neighbors,

As you know, the economy has not been so great lately which is starting to affect many people throughout the country. With so many people being laid off or losing their jobs, many families are facing financial hardship. With so many Americans in distress it has become somewhat easy for these people to be taken advantage of.

With that being said, homeowners in distress need to be aware of loan modification scams. Most of these scams consist of distressed homeowners providing large up front fees and receiving no benefits or results. Organizations such as the FBI, State Attorney General, Department of Real Estate, the California State Bar, and the California Legislature have been looking into the scam.

This past spring, the Department of Real Estate had more than 750 complaints regarding loan modification scams that were under investigation and the FBI were investigating more than 2,100 nationally.

So far, the state of California has been hit the hardest by the loan modification scam.

Hello All,

Known as one of Atlanta's most popular districts in terms of shopping, nightlife, and dining, Virginia Highland is an area which you could definitely spend a day of leisure.

With its name deriving from the intersection of Virginia Avenue and Highland Avenue, this distinctive district was established in the early 1900's. Made up of seven commercial villages and enchanting bungalow homes, this charming district definitely has character.

An attraction for both tourists and locals, Virginia Highland offers an abundance of things to do from great dining and drinks with restaurants such as The Cavern and Osteria 832 to shopping at places such as Ooh La La or Mitzi and Romano.

Like we mentioned in the beginning, you can definitely spend a day of leisure in Virginia Highland and after dining and shopping one could definitely use some relaxing which can be found in one of the many neighborhood spas/salons such as Key Lime Pie Salon & Spa or Natural Body of Morningside.

All in all Virginia Highland is a district of charm, history, and entertainment that one should definitely experience.

Greetings Neighbors,

With the holidays right around the corner, many people are starting to get that shopping fever. As we all know, metro Atlanta is full of spectacular shops and malls for you to fulfill your shopping needs. However, you can cut down on travel time and gas by shopping in your very own Virginia Highlands neighborhood.  Check out the list of shops we've come across in the area.

Clothing, Shoes, and Accessories

Bill Hallman Original (Women) 
784 N. Highland Ave.            
404.607.1171
www.BillHallman.com

Bill Hallman Original (Men)      
792 N. Highland Ave.            
404.876.6055
www.BillHallman.com

The Fickle Manor                  
1402-4 N. Highland Ave.          
404.541.0960
www.FickleManor.com

Jewelry and Fashions

Dakota J’s                                 
1030 N. Highland Ave.          
404.870.0690

Festivity                                   
1039 N. Highland Ave.           
404.874.1950
www.FestivityGroup.com

Art, Sculptures, Glass, and Pottery

Gems of Africa Gallery             
630 N. Highland Ave.            
404.876.8200
www.GemsofAfricaGallery.com

Furniture

Armour & Co.
1198 N Highland Ave.
404-817-3725
www.ArmourAndCo.com

Highland Row Antiques            
628 N. Highland Ave.            
404.815.8830

Greetings Neighbors,

It's Friday and the weekend is officially here! Tired of sitting in the house or wrecking your brain to find something to do? Of course this is the infamous city of Atlanta and there is always something to do including awesome dining. Here are a few neighborhood restaurants for you to check out.

Nickiemoto's
990 N.W. Piedmont Ave.
404-253-2010

Prime
3393 Peachtree Road
404-812-0555 ·

Corner Cafe
3070 Piedmont Road
404-240-1978

Eclipse di Luna
764 Miami Circle
404-846-0449

Hello neighbors,

As mentioned a week ago in our post 'A Few Good Home Selling Tips For Sellers', we noted 7 tips for owners who are in the market for selling. Today, we are back to give you more effective home selling tips to add to the list.

Tip 1: Go Home Shopping Yourself.

Home selling can be considered somewhat of a game or competition and with that being said you need to know your competition. You can achieve this by going home shopping yourself. By going to open houses, you will be around potential buyers and can identify what turns the buyers off. Some key points  you may want to take notes on include: floor plans, condition, appearance, lot size, and location. Once you've collected your information, you can utilize what you've learned to help set your selling price.

Tip 2: Maximize Your Home's Sales Potential.

As many of us know, appearance plays a major part in selling. Although you can not physically change the location of your home or actually change it's floor plan; you can make sure the home's appearance is at it's best. Your home's look and appearance is basically the first impression for potential buyers.

Tip 3: Clean Like You've Never Cleaned Before.

Make sure your home is cleaned to the best of your ability. In addition to cleaning, you also need to straighten up things within the home. Make sure your rooms are not cluttered or crowed with furniture. You need to remember; you're competing with other sellers homes as well as newly built homes on the market.

Tip 4: Fix Everything, no matter how small.

Maybe you have a light switch that does not work or a squeaky step that you've dealt with living in the home that was never too much of a bother to you, BUT these minor problems can be major deal breakers. Reality is, you do not know how particular potential home buyers are. Make sure you fix even the smallest annoyance.

Tip 5: Don't Sign A Deal On A New Home Until The Deal On Your Old Home is Complete.

If you go ahead and sign on a new home before completing the sale on your previous home, you may find yourself looking somewhat desperate. A seller never wants to appear desperate to sell their home. This may put you in the place of taking the first offer you hear which could be lower than what you can actually get. Take care of one business transaction fist before jumping into another.

Looking for a new home let us help, the zac team RE/MAX Greater Atlanta

Greetings Neighbors,

According to recent numbers released by Metrostudy's housing report, the housing inventory in Metro Atlanta has decreased in the third quarter.

Two months ago, Atlanta's finished inventory decreased by 37 percent compared to September of 2008, and declined 48 percent compared to September 2007. One chief principal for Metrostudy's assessment of the housing market is finished vacant housing inventory.

For the past three years, closings have been exceeding starts and the gap between new home sales and starts are increasing each quarter. With annual closings at 14,980 during the third quarter of this year and annual starts at 4,748, metro Atlanta is experiencing a decrease in finished housing inventory.

As a result of the decrease in finished housing inventory, Atlanta builders are no longer slowing the pace of starts during the third quarter. They are actually starting more homes than in the previous quarter.

During the third quarter of this year, starts increased 17 percent with the starting of 1,152 homes compared to the previous quarter starts.

With the impact of the recession causing home buyers to have more difficulties obtaining home loans, home demands have become somewhat restricted. However, there are hopes that the demand for new homes will grow as the economy grows stronger.

Looking for a home check out one of our featured areas with the zac team RE/MAX Greater Atlanta.

Greetings Neighbors and sports fans,

Atlanta's WNBA team, the Atlanta Dream makes history by becoming the first team to be bought by a woman.  That's right, the Atlanta Dream will soon be owned by Atlanta businesswoman Kathy Betty pending league approval. This will mark the first time in Atlanta's history that a woman has purchased a professional sports team.

CEO of the Garry Betty Foundation which was founded by her late husband, Betty was also a former partner with Ernest & Young and at one point held the position of Executive VP of Scott Madden Inc. in Atlanta.  In addition, Betty donates a considerable amount to Georgia Tech's men's and women's basketball teams.

At one point, there was talk of the Dream moving to Tulsa, Oklahhoma but a successful effort by prominent Atlanta leaders kept the team in it's original home. Those leaders included: public relations executive Bob Hope, Central Atlanta Progress President A.J. Robinson, and Atlanta City Council President

The team's previous owner was Ron Terwilliger, a multifamily residential real estate developer. Terwilliger also helped bring the Atlanta Dream to Atlanta.

League officials did not disclose the amount given for the team.