Andy Peters
o: 404.419-3500
c: 770-634-2782
f: 678-302-9477
Lesley Peters
o: 404.419-3500
c: 770-634-9969
f: 678-302-9477
Lots of uncertainity out there about interest rates, mortgages, etc… I found this article today and couldn’t resist uploading to the blog. It gives some great strategies whether you are a home buyer, seller, or contemplating re-financing your mortgage. Click here for the full article.
If you live in the Brookhaven area, you may be interested in Town Brookhaven and what it is bringing to your area… Mixed reviews have come from the folks of North Buckhead, Brookhaven and even Chamblee about this project. Looks like construction is scheduled to be completed in Spring 2009. As of now, it will bring a Home Goods, LA Fitness, Barnes and Noble, Best Buy, PetsMart, and Whole Foods to the area. For the site plan and more information, click here.
When the Fed cuts the interest rates, I begin to get a lot of questions regarding how it directly applies to you - future homebuyers or current homeowners! This is a great article demonstrating just that - What does this fed cut mean for me? Click here for the full article! Don’t hesitate to give me a call if you want to talk interest rates! I have some great lenders that would be ready to help you in any way! Happy Tuesday!
A couple of weeks ago, I posted to my blog an article about President Bush making a push to increase the Jumbo Loan limits. Unfortunately, it didn’t happen as many of us in Atlanta and larger cities hoped it would. There is always next year! Here is the update:
Jumbo Stays $417,000 for 3rd Straight Year
The maximum value of a single-family mortgage eligible to be purchased by Fannie Mae or Freddie Mac will remain at $417,000 for the third straight year, according to the Office of Federal Housing Enterprise Oversight, known as OFHEO.“While the house price survey data used in determining the conforming loan limit show a decline over the past year, as previously announced and consistent with the proposed new conforming loan-limit guidance, the level will remain at $ 417,000 for the third straight year,” said James Lockhart, OFHEO’s director. The conforming loan limit is based on the average October-to-October change in home prices, which fell $10,685, or 3.49% to $295,573 in the latest Federal Housing Finance Board survey.
The news isn’t too surprising, as the OFHEO said under no circumstance would the conforming limit drop, and since home prices were sliding, many expected no increase.For the full article, click here!
Great article came out in the AJC HomeFinder section last week that discusses the current real estate market in Atlanta. It’s an article any homeowner or future homeowner in Atlanta will not want to miss! Click here for the full article!
How Bush May Boost the Economy by Jeanne Sahadi (CNNMONEY.com)
Word is that President Bush may propose new measures to boost the economy by the time he gives his State of the Union address later this month. One of those measures (listed below) sure would help us out in the housing market!
Increasing loan limits: The White House also might consider calling for a temporary increase in the size of mortgages that Fannie Mae (FNM) and Freddie Mac can purchase from mortgage lenders. These two government-sponsored enterprises guarantee the purchase and trading of so-called “conforming” loans, which are those valued at $417,000 or less. Any loans above that amount are considered “jumbo” loans. An increase in the conforming loan limit would make it easier and less costly for borrowers in high-cost areas to get loans because Fannie and Freddie would guarantee their purchase by investors. In the past, the Administration has said it would support a temporary increase in loan limits, but only if lawmakers pass legislation that would boost oversight of both Fannie and Freddie, which have been plagued by accounting scandals.
Let’s keep our fingers crossed that the Jumbo loan limits are increased. I’ll keep you posted on my blog with any updates!
If you purchased a home in 2007 and it is your primary residence, you are able to claim a partial exemption on your property taxes which can amount to substantial property tax savings! Senior citizens may have additional exemptions available. Check with your county tax office. You are entitled to Homestead Exemption if you owned or occupied your home by January 1st. The homestead exemption filing deadline is March 1st!
You may download the Homestead Exemption Application form from most of the links below:
