Reason # 3 of 7 - Why Now is the Best Time EVER to Buy a Home!

It is very easy to get caught up in the negativity from the media surrounding the housing market.  If you’ve been following, I am on a seven week path to laying out the facts as to why now is an unprecedented time in our lives for the real estate market. 

 

REASON # 3 – Lenders are back in the game!

 

The last few month’s of 2009’s meltdown in the financial markets led to an overwhelming sense that financing had dried up.  You could almost hear the wind whistling through the offices of most loan officers, if they hadn’t already closed up shop and moved on to that great pizza delivery career they had always dreamed of.  Mark Twain once said "The reports of my death are greatly exaggerated."  Wasn’t much of an exaggeration to say that pulse was hard to find in the lender community.

 

But they’re back!  You can take advantage of the misguided thinking that money has dried up, because many banks have revamped their criteria for lending and are literally starving for qualified buyers.  Most people do not realize that it is still possible to get 0-3 percent down where credit score isn’t the only determining factor.

 

The need to make loans varies depending on which bank you talk to.  If you are having difficulty, by all means – talk to another bank!  Or better yet, call me today and I will put you in touch with at least 3 mortgage brokers that will fight for your business.  If you have a job and can afford the payment, chances are you will qualify for a mortgage.

Posted via email from MyHomeIntown.com

Reason # 2 of 7 - Why Now is the Best Time EVER to Buy a Home!

Simply stated, mortgage rates are at rock bottom and won’t stay there forever!

 

The national average on a 30-year fixed mortgage dropped to 4.17 percent in November – that’s lower than it’s been in the past half century.  Once rates start going up again, they can go up fast and create a major impact on monthly finances.  Take this for example.  On a $180,000 loan, the monthly principal and interest payment at 4.36% is $897/mo.  When rates reach 6%, that payment increases to $1,080.  That may not sound like much of a difference, but on a 30 year loan it adds up to $65,545 in additional interest paid!

 

Brett Arends with the Wall Street Journal says “If inflation picks up, you won’t see these mortgage rates again in your lifetime.”  Um… he didn’t say a few years, he said your lifetime.  You really don’t want to be the one looking in the rear view mirror and wishing you had taken advantage of this opportunity.  Call me today to discuss how easy it is to get pre-approved on a loan within 24 hours.  We can find that home before rates inch up any higher and save you thousands of dollars!

More next week!  If you want a copy of the eBook, contact me and I will send it your way!

Posted via email from MyHomeIntown.com

How do you know when a fireplace is in good condition?

Q: How do I check if my fireplace is in good condition?

Many people ask me how they know when the fireplace is in "good condition."  Wood-burning fireplaces are considered inefficient heat sources, but that doesn’t deter many homeowners from wanting them in their homes. Who wouldn't want to stretch out in front of the fire, right?!  There are two basic types of wood-burning fireplaces: A masonry fireplace made of brick or mortar, and a metal insert fireplace that is a prefab unit with masonry surrounding it.

Fireplaces and chimneys are part of a general home inspection. A good inspector (and I have one!) will inspect the firebox and check for any major cracks in the masonry surrounding the firebox. The professional will then look into the flue and operate the damper to verify that it works.

The inspector will also observe the general condition of the chimney, note the materials of its construction, the height of the chimney and any unsafe conditions. He or she will note areas in need of maintenance and recommend repairs.  Bottom line -- it's just another aspect of home ownership that should not be left unattended. 

Click here to see some great homes for sale in Atlanta with fireplaces

Posted via email from MyHomeIntown.com

Luxury homes now within reach

I had the opportunity to attend a broker luncheon today at 1100 Garmon Drive in Buckhead, where my friend Adam has a gorgeous 7 bedroom Mediterranean offered at roughly half the price it entered the market... not too very long ago. With jumbo mortgage rates hovering in the 5% territory, there are plenty of opportunities for the move-up buyer to land the home of their dreams!

Click here to see details of this luxury home for sale on Garmon Drive in Buckhead.

7 Reasons Why Now is the Best Time EVER to Buy a Home!

Well... spring is just around the corner -- and Mother Nature certainly tempted us this weekend with temps soaring to 70!  Not only is spring a glorious botanical event in Atlanta, I believe that this spring will be a glorious time for the Atlanta real estate market.  Why?  So glad you asked!  Over the next 7 weeks, I will provide you with one good reason to run (not walk) toward home ownership during this period of unbridled opportunity that lies ahead.

REASON #1 - Homes have never been more affordable.

John Paulson is a multibillionaire hedge fund operator with Forbes.com.  This guy made a fortune (or $2 billion) by betting against the housing market prior to and during the meltdown.  He has changed his tune to proclaim the following:

"If you don't own a home buy one; if you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.  Your debt and interest payments will get locked in at record lows, while the price of your home will rise."

For individual home buyers, there are only a few facts that really matter:  Can I afford this home?  Is it a good deal?  Does it meet my needs?  So, it's a bit surprising that the most important housing statistic has gone largely unreported.  According to the 2010 stats from National Association of Realtors (NAR), affordability is measured by the median mortgage payment on the current median-priced home as a percentage of the median household income.  And...here it is..... it's lower than it's been in a whole generation.  That's right. For most of us, it's lower now than it was for our parents.

More next week!  If you want a copy of the eBook, contact me and I will send it your way!

Posted via email from MyHomeIntown.com

OPEN HOUSE TODAY!!! 209 Peachtree Way NE - Atlanta GA/Garden Hills - Real Estate

Offered exclusively by J.D. Kellum & Associates, this home will be held open from 2:00pm - 4:00pm this Sunday, January 30th. Address is 209 Peachtree Way NE, Atlanta, GA 30305. 5 bedrooms, 4.5 bath home in Garden Hills with full finished basement, wet bar and wine room, media center, great room with fireplace.  Mud room entrance from two car garage.

 

 

***SEE THE VIRTUAL TOUR AT WWW.209PEACHTREEWAY.GREATCUSTOMHOME.COM  

Posted via email from CondoMidtown -- Live...Own...Dream!

Just listed! Mid-century modern home in Ormewood Park for sale

FINANCING INCENTIVE AVAILABLE!  Completely renovated, clean and contemporary all brick in Ormewood Park w/ a huge backyard. True representation of mid-century style w/ a modern twist.   New double paned windows flood the home with light.  Sleek kitchen w/ concrete counters and stainless appliances.  Rich ebony hardwoods, recessed lighting, new bathrooms w/ stylish fixtures. Oversized master w/ enormous walk-in closet. Full basement w/ separate entrance for workshop or storage. Just 2 miles from East Atlanta Village/Shops, 10 min to Downtown/CNN/Midtown.  Call me for complete list of upgrades in detail at (404) 307-7334.

Posted via email from CondoMidtown -- Live...Own...Dream!