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This Month in Real Estate-March 2012

03/28/2012
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Market Update-March 2012

Opportunities in the housing market continue to grow for buyers and sellers. Home affordability, driven mostly by record low interest rates, is among the lowest it has ever been. According to the National Association of Realtors, and based on national averages, the payments on a home today represent 12.8% of the median household income. This is both a good sign for those looking to purchase a home, and for the economy overall as consumers are keeping more money in their pockets.

If you’re a seller, the housing market shows signs of transitioning from a buyers’ market to a more balanced one. This means that home owners should start to see prices stabilize and begin to grow, presenting more favorable opportunities for those looking to sell their homes. In regards to the number of homes on the market, a key indicator of the health of the housing market, Lawrence Yun, NAR chief economist, said, “The broad inventory condition can be described as moving into a rough balance, not favoring buyers or sellers.”

With continuing job creation, the improving housing sector, and signs that the banks are beginning to lend more, 2012 looks to offer promising opportunities to both those looking to buy or sell a home.

Source: National Association of Realtors

Home Sales – in millions

Home sales were up 4.3% in January from December 2011 to 4.57 million (seasonally adjusted), and this is up from 0.7% from the year before. The steady increase in home sales over the last few months is positive encouragement for a continued housing recovery. Lawrence Yun said, “The uptrend in home sales is in line with all of the underlying fundamentals– pent-up household formation [lack of new home construction], record-low mortgage interest rates, bargain home prices, sustained job creation, and rising rents.”

 

 Home Price – in thousands

Adding to home affordability in January, the median home price was down 2% from a year ago, to $154,700. While prices are still declining, foreclosed and other distressed properties, which have been putting downward pressure on home prices, are being moved more efficiently off the market, and default rates on home mortgage payments for the past three years are among the lowest in history.

 

 Inventory-in months

As sales increase with a growing demand for homes, the inventory of properties for sale fell 0.4% to 2.31 million, or a 6.1-month supply at the current sales level. This is down from a 6.4-month supply in December 2011. Historically, a 6-month supply has meant that the housing sector is balanced–favoring neither buyers’ nor sellers’.

Source: National Association of Realtors 

Interest Rates

 

The most powerful indicator of home affordability, interest rates on mortgage loans, was down again in January. The national average for a 30-year fixed mortgage was 3.92%, down 0.04% from the month before, and down nearly an entire percentage point (0.84%) from a year ago. These historically low rates, coupled with today’s home prices, represent an incredible opportunity for home buyers.

 This Month’s Video

 

http://www.youtube.com/watch?v=SjhFoemN7Gg&lr=1

Topics For Home Owners, Buyers & Sellers – Preparing to Sell

Preparing your home for sale can seem daunting, but these tips will help you get the best price in the least amount of time.

1. Organizing and cleaning are crucial when prepping a home for sale. Potential homebuyers have a more positive reaction to a home that is clutter-free and that gives them the feeling it is “move-in ready.”

2. Determine replacement estimates before listing your home, even if you are not planning on making the replacements yourself. This information can help buyers make informed decisions.

3. Have your warranties ready—especially for home appliances that will stay with the home after the sale.

4. Curb appeal is a crucial factor because it determines first impressions. A poor first impression can cloud their entire opinion about the home. 

 

Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report. 

The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources.  You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion.  Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind.  All information presented herein is intended and should be used for educational purposes only.  Nothing herein should be construed as investment advice.  You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.  All investments involve some degree of risk.  Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate

Call or email me today for more information about whats going on in your area!

 Ready to take advantage of these awesome interest rates? To start hunting for your perfect home, just follow this link:

http://www.debbybraun.com/search_atlanta_mls_listings.asp

  

Realtor®, CDPE® (404) 372-9556

http://www.debbybraun.com/

debbybraun@kw.com

 PS  If you know someone thinking of making a move, that would appreciate concierge like service, my team and I ALWAYS have time to help! So as these people come to mind, please let me know. We promise to take excellent care of them!

 

 

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Just Listed in Sandy Springs

03/13/2012
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Remarkable Sandy Springs Renovation!

8030 River Circle

River Edge

 $415,000

5 Bedrooms, 3 Full Baths, 1 Half Bath

  • Top of the Line Renovation From floor to ceiling; to the plumbing  pipes & wiring; w/extraordinary attention to detail!
  • Complete Kitchen Redesign – Custom cherry cabinets w/accent lighting, granite counters, tile backsplash, finest stainless appliances, Fisher Paykel 2 drawer dishwasher, desk, in & under cabinet  lights, pendant & recessed lighting!
  • Butler’s Pantry-2nd oven, wine cooler & tons of extra storage!
  • Elegant Master Retreat – Huge room w/ceiling fan, crown molding & large walk-in closet with shelving system!
  • Marvelous Master Bath – Exquisite tile, jetted tub w/built in bookshelves; his/hers vanities w/custom cabinetry & granite counters; separate, frameless shower  & pocket doors!
  • Large Bedrooms –W/crown molding, fans & walk in closets!
  • Elegant 2 Story Foyer – New front door & gleaming hdwds!                                            
  • Breakfast  Room – Off kitchen w/ bay window & French door leading to brick patio and private, wooded backyard!
  • Great Room – Renovation opened walls for a HUGE room! Just off  kitchen has marble fireplace w/glass doors & custom cherry mantel, hardwood floors, crown molding, recessed lighting & bar! Bright & sunny thanks to walls of windows!
  • Formal Dining Room – Chair rail, crown molding & hdwds!
  • Full Basement –Bedroom, full bath, rec room & living room potential for teen/in-law suite, home theatre, etc.; you choose! Smooth ceiling, cedar closet, built ins & French door to patio!
  • Two Car Garage –  Kitchen level entry, great for unloading!
  • HUGE Lot – Over 1 acre; lush landscaping  w/100s of  flowering shrubs & trees; a delightful outdoor sanctuary in Spring!
  • Great Location- Minutes to shopping, I-285 & GA 400!

Follow this link to the virtual tour: http://www.homescenes.com/_PGM/hs_TourMain.cfm?PropertyID=62339

If you, or anyone you may know, are interested in viewing this home, just give me a call or send me an email!

Also want to share a FREE Real Estate Seminar coming up this weekend, Saturday, March 17th from 10:00am to noon:

Your First Home – The objective of this workshop is to advise and consult with first time home­buyers. We would like to help you in understanding today’s real estate market; why it may be better to own than rent; and empower you with the knowledge to make good decisions as you take your first steps toward financial security. We welcome you to join us for this information packed Saturday. A no pressure seminar (leave your checkbook at home). Come with your questions and leave with a wealth of knowledge.

What We Will Cover During the Workshop:

  • The Possibilities
  • Myth Understandings
  • The Big Why?
  • Deciding to buy
  • Finding and hiring an agent
  • Securing financing.
  • Finding a HOME
  • Making an offer
  • Due diligence + the closing
  • Protecting your investment

If you, or anyone you know, are interested in attending, just let me know so I can reserve your seat.  Seminar is held at Keller Williams Realty First Atlanta, 200 Glenridge Point Pkwy, Suite 100, Atlanta, GA 30342.

Searching for your dream home or ideal investment property? Just click on this link: http://www.debbybraun.com/search_atlanta_mls_listings.asp

Best Wishes,

Debby


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January Atlanta Market Real Estate Sales

03/06/2012
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 SALES WERE JUMPING IN JANUARY!

 Yearly Trend Analysis-Single Family Detached

# Active: 25,441 (Jan 2011) vs 17,366 (Jan 2012) – Much lower than last year!

# Pending: 5,276 (Jan 2011) vs 7,115 (Jan 2012) – Substantial increase from the same time last year!

 Pending Ratio: 17.2% (Jan 2011) vs 29.1% (Jan 2012) – Significant increase, particularly since there are fewer active listings!

 # Sold (Previous 3 Months): 7,312 (Jan 2011) vs 9,133 (Jan 2012) – Another noteworthy increase!

 Foreclosure %: 19.5% (Jan 2011) vs 16.2% (Jan 2012) – 3.3% drop from 2011; the foreclosures are flushing out!

FMLS SF Detached residences data.  Data believed to be accurate, but not warranted.    Analysis includes previous listing period data where applicable.  © 2012 ChartMaster Services, LLC.  For exclusive use of participating Keller Williams Realty offices.

2012 is getting off to a GREAT start for Atlanta Real Estate! Fewer homes are available for sale and more listings are going under contract. Sellers, NOW is the best time to list to take advantage of the smaller inventory and beat the competition to the VERY active buyer pool. Several price ranges have reached or are awfully close to reaching a seller’s market in terms of available inventory. Therefore, NOW is the time to buy a home before prices and interest rates begin trending upward!

Ready to seize these amazing opportunities in the Atlanta Real Estate Market? Contact me TODAY for a complimentary, no obligation consultation.

Click here to get started searching for your golden opportunity: http://www.debbybraun.com/search_atlanta_mls_listings.asp

Also want to share a few Buyer Needs with you:

BUYER NEED: Walton HS District, swim/tennis community preferred, up to $350K

BUYER NEED: North Fulton area, Master Bedroom upstairs, Kitchen with island, no bar seating, flat backyard, basement (finished or unfinished), up to $525K

If you, or anyone you know, may have a home that would work for these Buyers, just let me know.

Searching for your dream home or ideal investment property? Just click on this link: http://www.debbybraun.com/search_atlanta_mls_listings.asp

All the best,

Debby


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