The “Jewel of the South,” as many have called Atlanta, refuses to be denied.  With an influx in population due to steady job growth, Atlanta earns the #10 spot in a recent Forbes Magazine article. 

This just in case you were about to jump off the cliff after listening to the national real estate update on the news.  You really have to filter the news when anything is reported as a national statistic or trend.  You wouldn’t listen and believe a weatherman if he told you it was going to be sunny over the entire United States tomorrow, would you?  How is that any different from the real estate market?

Certainly be thankful you are in a growing city like Atlanta, where there will always be demand for housing.  What is down, won’t be down long.

In another sign that the government is going to do whatever it takes to get us out of this mess, the Fed rate was cut again last week, which has created another dip in mortgage interest rates.  Despite tighter lending requirements, this market is going to make a lot of smart people a lot of smart money.  Smart money is already starting to move in.  Our phones are buzzing over these historically low rates, depressed home values and inflated inventory levels.  If you have been considering buying a home, now is without a doubt the time to explore it further.  If you have been considering buying a second home, now is the time to explore it further.  If you have been considering selling and moving up, now is the time to explore it further.  If you have been considering refinancing, now is definitely the time to consider it.   We are very skilled at interpreting the market, getting homes sold quickly, and finding amazing opportunities for our clients.  Let us show you how to maximize this market.

photo courtesy of BrookhavenGardens.com

Brookhaven Gardens is a small residential neighborhood in the incredibly popular and fast growing Brookhaven community of DeKalb County in intown Atlanta.  The neighborhood, originally constructed in the late 1990′s, is home to a variety of floorplans and size homes.  You will find the small neighborhood tucked away within the larger Brookhaven Fields community and adjacent to the even larger Drew Valley community. 

Highlights of the neighborhood include an active Homeowners Association, which acts indepently and also participates within the larger Brookhaven Fields Civic Association.  Each year in the fall, Brookhaven Gardens organizes a block party filled with great food courtesy of the neighbors, karaoke machines, pony rides, visits from the local police and fire departments giving tours of police cars and fire engines, football on TV, and other surprises.  In addition, Brookhaven Gardens participates in the annual Brookhaven Fields Yard Sale, an event that grows every year and one that you should give serious consideration to attending if you have never seen it.  It’s the largest organized yard sale I’ve ever seen in Atlanta.

Perhaps one of Brookhaven Gardens’ best features is also the area’s best kept secret, a small fountain filled pond, home to at least 10 beautiful and friendly ducks.  Neighbors sometimes pause for a humorous duck crossing in the street, and many are found feeding the neighborhood “pets” from their waterside decks.  The community is built around the pond, and a waterfront gazebo is a welcoming spot for visitors to feed the ducks or enjoy the sounds of the fountain.

The quiet community is a refreshing suburban setting within 1 mile of the hustle and bustle of Buckhead.  The homes within Brookhaven Gardens are still considered an exceptional value given their size.  When compared to new construction in the area, an objective buyer will quickly see that these spacious homes, priced in the $500,000+ range, are undervalued.  My wife and I lived within half of a mile of this neighborhood in Ashford Park for many years, and we never even knew Brookhaven Gardens existed until we began looking for larger affordable housing in the area.  We love Brookhaven, and we were willing to sacrifice space in order to stay in the area.  Thanks to this neighborhood, we didn’t have to do that.  We moved into Brookhaven Gardens almost 2 years ago, and our home is much bigger than we thought we would find.  We have thoroughly enjoyed our time here, and the location is to die for.  Nowadays, I’m surprised the word is not out about this great neighborhood.  Of course, the homeowners of Brookhaven Gardens would just assume you not know about their little secret.  That’s what makes it special.

Lesley and Andy have some great new listings coming on the market. Stay tuned!

Congratulations to Jennifer! Jennifer is a first-time homebuyer that was tired of renting and looking for a good deal. With a vast amount of condo inventory, interest rates to die for, and an EXCELLENT price – Jennifer didn’t just find a deal but a STEAL! She bought a beautiful condo in the heart of Buckhead that is her VERY OWN. If you are looking to take advantage of low interest rates and rock bottom pricing – give us a call today. It’s an excellent market for first-timers. We may not see rates and prices this low again. Join Jennifer in saying “bye-bye” to rent and “hello” to equity!!!

A recent survey by The Mortgage Bankers Association stated that 10% of mortgages on one- to four-family homes were at least a month overdue or in the midst of the foreclosure process during the third quarter of this year. That is up from 9.2% three months earlier and 7.3% a year ago.  Wow!  Inventory is already high, and an increase in foreclosures does not smell very good.  So, what’s a county to do to boost the real estate industry, the lifeblood of the economy?  How ’bout a bailout?  The Treasury Department is in the beginning stages of a deal that would help reduce interest rates for new loans to purchase a home.  The number that’s being thrown around is roughly 4.5%.  The hope is that this new low rate will boost sales, help stunt the slipping national home prices, and enable homeowners to “buy up” and afford larger loans.

So, how good is a 4.5% rate?  Check out the 30-Year FRM graph representing rates from 1971 to present day at www.mortgage-x.com/trends.htm just to see how good it can get and just as important, how good it is currently!  If you haven’t noticed rates right now, we are hovering just above 5%, which is still historically low even without the Treasury Department’s proposal.  Love the mortgage-x.com site, by the way.

I have previously talked about the refinancing opportunity out there right now.  I would highly recommend you talking to a lender if you are in above 6% on a fixed OR adjustable rate mortgage AND plan to stay in your current home for at least the next 3 years.  Just how much do I believe that?  I am closing on the 22nd of December on my own personal refinance!  It’s important to note that the proposed Treasury Department plan will most likely not apply to those applying for a refinance.  This new deal is exclusively for new home purchases, and if it is successful it should inject some new life into the national real estate picture.

Considering what’s going on in the real estate market, you have a tremendous opportunity.  This opportunity requires you to make a decision though!  You have to decide if you are going to be a pioneer or a settler.  No, you’re not playing a game of Oregon Trail so calm down you children of the 80′s.  So what’s the difference and what are you?

pi⋅o⋅neer   [pahy-uh-neer] – one who is first or among the earliest in any field of inquiry, enterprise, or progress: pioneers in cancer research.

set⋅tler  [set-ler, -l-er] – one who establishes himself in a new region.

A pioneer in this real estate market is quite honestly a smart buyer, keeping in mind that the money to be made in real estate is not in the up time.  It’s all about buying low and selling high in those up times.  If you’re one of the few who is buying a primary residence with no other strings attached (such as, not owning another home somewhere else and/or having the good fortune of selling your previous home), words can’t describe the opportunity before you.  You can be a pioneer by simply buying smart.  Many homebuyers are sitting on the sidelines waiting to see just how low things can go.  I believe at the end of the day those folks will be very sorry considering inventories are high (although falling and showing promise of a turnaround) and rates are in the low 5% range (and sure to rise). 

If you already have a home which you are bound to for various reasons or maybe you have no desire to move, you can be a pioneer too.  Investment property, which I have talked about previously, is a golden opportunity for you to actually experience a return on investment RIGHT NOW.  Have you looked at your 401(k) or securities accounts lately?  Returns?  What’s that?  Learn the value of cash flow, buy an investment property, build equity, and sleep well at night Mr. Pioneer.

The alternative is to be a settler, the person that follows the market and the crowd.  When it’s just about to crest, you are buying and following those clever pioneers.  The bad news is that crest soon turns into a valley, and there goes your profit, your equity, or even worse your property.  Sure, you can make money as a settler, but literally every day you wait costs you money. 

As your real estate consultants, our job is to advise you and keep your home search or home sale “between the ditches,” as my grandfather used to say, teaching me to drive his old truck on dirt roads in south Georgia.  Simply put, we win when you win, and that includes finding values, negotiating values, and facilitating a smooth transaction.  The moral of the story is, as in all of life, you have a decision to make.  If you can afford to do so, be a pioneer.  Your long term wealth will thank you for it later.

As always, we’d love to be your home base for all your pioneering needs.