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Monthly Archives: December 2010

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Mortgage News You Can Use: Dec. 21, 2010

Your Guy for That Tuesday, December 21st, 2010 No Comments

Mortgage Rates Higher
It has been a wild few weeks for mortgage rates.  The benchmark Conforming 30 year fixed rate is now back up to the late Spring / early Summer level of 4.75%.  The recent rise in rates is mostly attributable to the following:
1.  Strong economic growth data. Most of the data released over the last two weeks has exceeded the expert’s expectations causing several economists to raise their forecast for GDP in 2011.  In particular, last week’s Retail Sales and Manufacturing Sector data surpassed the consensus estimates.  The PPI inflation data was also stronger than expected.  Faster economic growth generally produces higher future inflation expectations, which leads to higher bond yields and higher mortgage rates.
2.  The new tax package. While an extension of the… Continue Reading Mortgage News You Can Use: Dec. 21, 2010

Posted in Interest Rates

Are You Still Renting?

Your Guy for That Monday, December 20th, 2010 No Comments

There has never been a better time to enter the real estate market. So, why throw away money on rent when you can be your own landlord?

Mortage rates are low, great homes are more affordable than they have been in recent history and there are plenty of highly-motivated sellers out there ready to negotiate.

I have this great new e-book that is sure to help.  
Your First Home: The Proven Path to Home Ownership outlines the process of home ownership in eight simple steps and is a must-read for anyone considering purchasing their first home!

Let me know if you’d like me to send one your way, or if you’d like to sit together to figure out how we can get you into your first home!

I look forward to speaking with you soon!

 … Continue Reading Are You Still Renting?

Posted in Buyer Tools, First Time Homebuyers, Renting

Fannie Mae Study Finds Americans Still Aspire to Homeownership

Your Guy for That Tuesday, December 14th, 2010 No Comments

According to DSNews.com, a study released by Fannie Mae says most Americans strongly desire to own homes and maintain homeownership, but a number of factors, including financial caution and shrinking households, continue to contribute to a willingness to rent.

“Despite Americans’ strong desire to own their homes, our study reveals that life events are greatly influencing families’ decision to rent,” said Doug Duncan, Fannie Mae VP and chief economist. “This trend, coupled with the housing crisis, has caused consumers to approach homeownership with greater caution and thoughtfulness.”

The Fannie Mae 2010 Own-Rent Analysis is based on research with homeowners and renters (including focus groups and a quantitative survey) during July and August 2010, U.S. Census Bureau data… Continue Reading Fannie Mae Study Finds Americans Still Aspire to Homeownership

Posted in Interest Rates, Keller Williams, Real Estate

East Point's 2011 Economic Development Outlook

Your Guy for That Monday, December 13th, 2010 No Comments

There is much underway and planned to put East Point in a better position to benefit from development opportunities even in this great recession.   The East Point Business and Industrial Development Authority is sponsoring a day-long Technical Assistance Panel with the Urban Land Institute to identify best uses and action steps needed to spur the redevelopment of the Commons area.  The session is scheduled to take place in January 2011.  If you are interested in learning more, please contact Jennifer Fine at jfine@eastpointcity.org.
To strategically and thoughtfully plan for the desired development in the entire downtown area, especially in light of Ft. McPherson’s closure next year,  a comprehensive development plan should begin by the end of spring.  What will se… Continue Reading East Point's 2011 Economic Development Outlook

Posted in East Point

Mortgage News You Can Use: Dec. 10, 2010

Your Guy for That Friday, December 10th, 2010 No Comments

Wild Week for Mortgage Rates
It has been the most volatile couple of weeks for mortgage rates in quite sometime.  Stronger than expected global and domestic economic data (including manufacturing, home sales, and consumer confidence) pushed mortgage rates higher last week due to inflationary concerns.  Then, last Friday’s weaker than expected Employment report helped mortgage rates recover much of the losses and rates improved.  The rebound continued until the President and Republican leaders reached a deal on a new tax package on Tuesday.  Although this deal was positive for the stock market, it is expected to boost economic growth and increase the budget deficit, both of which are negative for the bond market and mortgage rates. The result was the largest one-day gain in rates this … Continue Reading Mortgage News You Can Use: Dec. 10, 2010

Posted in Interest Rates, Mortgage News

Apartment Fire Leaves East Point Residents in Need

Your Guy for That Friday, December 10th, 2010 No Comments

Colony at Camp Creek Apartments needs your help!!! A fire at the East Point apartment building has destroyed 29 apartments and has consequently caused 50 people to lose their homes. Some of the effected include 10 children and 2 disabled individuals.
Property Manager Phoebe Bernard is extremely concerned about her residents and needs YOUR help to get these people back on their feet. So far, the Red Cross has given a little help to residents, but it’s not enough. The residents of Colony at Camp Creek are very much in need.
Donations of any sort are highly appreciated. Residents are in immediate need of blankets and air mattresses but also need food, furniture and everything in between. Donations can be taken to the Colony at Camp Creek Apartments leasing office at 3222 Kenelworth Driv… Continue Reading Apartment Fire Leaves East Point Residents in Need

Posted in East Point

1.5M Loan Modifications Completed YTD – Fannie & Freddie Pressured to Increase Modifications in 2011

Your Guy for That Thursday, December 9th, 2010 No Comments

DSNews.com reported earlier this week that new data from HOPE NOW shows that the industry completed more than 1.5 million loan modifications for at-risk homeowners from January through October of this year. That translates to an average of 154,000 homeowners per month who have been able to remain in their homes with an affordable loan modification solution.
It’s a notable accomplishment, but the report makes it clear that there’s far more work to be done. HOPE NOWsays there are currently 3.4 million homeowners 60 or more days behind on their mortgage payments.
Meanwhile, With property values still tumbling, it comes as no surprise that there is increasing pressure for Fannie Mae & Freddie Mac to write down even more. Industry studies support the consensus that the farther a bo… Continue Reading 1.5M Loan Modifications Completed YTD – Fannie & Freddie Pressured to Increase Modifications in 2011

Posted in Foreclosure, Real Estate

A Common Intown Driveway & Alleyway Issue

Your Guy for That Wednesday, December 8th, 2010 2 Comments

An “easement” is a legal right of use over property of another. The right of private way over another’s land may arise from (i) an express grant, (ii) from prescription by seven years uninterrupted use through improved lands (iii) by twenty years of use through wild lands, or (iv) by implication of law when the right is necessary to the enjoyment of lands.
It is common for intown residences to share common driveways, access points and right of ingress and egress. It is also common for two driveways to be located side by side, often making it difficult to precisely determine the coinciding boundary lines between the driveways. In many cases, a title exam will not reveal any formal express grant of an easement of ingress and egress to either party. It is not unusual for access and ingress … Continue Reading A Common Intown Driveway & Alleyway Issue

Posted in Atlanta, College Park, East Point, Hapeville, Real Estate

Many Condominium's FHA Approvals Lapsed Today

Your Guy for That Tuesday, December 7th, 2010 No Comments

Under the Federal Housing Administration’s (“FHA”) new condominium approval  guidelines issued late last year, inclusion on the list of approved condominiums is now required  before purchasers are allowed to use FHA-backed mortgages in your community.  As the use of  FHA-backed loans has increased, continued approved status is an important part of making your  community’s units marketable to as many potential purchasers as possible.
Many condominium associations that were previously on the FHA list of approved condominiums may no longer be on the list starting today.  Condominiums that received approval after January 1, 2000 but prior to October 1, 2008 must have been recertified by today’s deadline.  If recertification has not been completed, then the approved status of the… Continue Reading Many Condominium's FHA Approvals Lapsed Today

Posted in FHA, Real Estate

Stay informed with up-to-the-minute data

Your Guy for That Monday, December 6th, 2010 No Comments

Buying and selling a house can be one of your biggest  financial decisions and sometimes the process can be overwhelming.  With Listingbook and Your Guy for That, you have access to the resources and information to help you make a decision you can be comfortable with.

The information in Listingbook comes straight from the Multiple Listing Service – an association of real estate brokers that agree to share listings with one another.  The MLS has the most comprehensive and most current information about real estate in your area.  Listingbook updates that information hourly giving buyers and sellers a trusted and dynamic resource to make an informed decision.

… Continue Reading Stay informed with up-to-the-minute data

Posted in Real Estate
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