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Monthly Archives: May 2011

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The Basics of FHA Financing

Your Guy for That Tuesday, May 31st, 2011 No Comments

So, you’d like to purchase a home but have one of the following situations:

Limited money for a down payment
Marginal credit history
High debt load

Well, FHA Financing could be your answer. The Federal Housing Administration (FHA) is a division of HUD, an agency of the US Government. The FHA insures lenders such as Fairfield Mortgage against your default on a mortgage, which enables you to obtain a loan at a great rate wand with only a 3.5% down payment. The program is available for both first-time and repeat homeowners alike.
An FHA loan enables you to buy a home with little money down and less than perfect credit at an interest rate that is often better than Conventional mortgage rates. This loan also allows your lender to “stretch” your qualifying ratios a little more than many ot… Continue Reading The Basics of FHA Financing

Posted in Atlanta, Buyer Tools, College Park, Credit Score, East Point, FHA, First Time Homebuyers, Fulton County, Hapeville, Interest Rates, Metro Atlanta, Mortgage Insurance, Mortgage News, Real Estate

How to Outperform 2 Out of Every 3 Listings

Your Guy for That Friday, May 27th, 2011 No Comments

Staging is an increasingly important component, not only in selling a home but also in attracting would-be buyers. Even with all of the commonly accepted advantages of staging, only about 1 in 3 sellers stage their home.

The average increase in list-to-sell in stages homes: 1.07%
The average cost of staging: $250
Potential benefit based on a $200,000 home: $3150

The Internet is one of the main sources of information buyers use during the home search process, and staging is key to showing the home at its best online.
Rooms that sellers stage most often:

 Living Room: 73%
 Kitchen: 64%
 Master Bedroom: 58%
 Dining Room: 49%
 Master Bath: 45%
 All Rooms: 37%
 Office: 16%

The cost of staging is minimal compared to the benefits: more showings and ultimately a higher percen… Continue Reading How to Outperform 2 Out of Every 3 Listings

Posted in News & Reports, Real Estate, Sellers

Fannie Mae / Freddie Mac to be Replaced?

Your Guy for That Thursday, May 26th, 2011 No Comments

Conservative lawmakers have come up with a potential compromise to replace Fannie Mae and Freddie Mac with at least five private firms that would issue mortgage-backed securities with explicit federal guarantees.  Like Fannie and Freddie, the new entities would be restricted to buying loans that meet certain standards, including size caps.  The firms would be required to hold much more capital than Fannie and Freddie and would essentially operate like public utilities and not have exchange-listed shares.  The approach signals policy makers’ desire to usher more private capital into the mortgage market, where the government currently backs more than nine in 10 new loans.  However, the measure also reflects an unwillingness to cut the federal cords entirely.  Analysts say the legislatio… Continue Reading Fannie Mae / Freddie Mac to be Replaced?

Posted in Fannie Mae, Freddie Mac, Mortgage News, Real Estate

Fort McPherson Property Transfers Beginning

Your Guy for That Wednesday, May 25th, 2011 No Comments

On March 22, 2011 a Record of Decision was issued stating that the U.S. Army will proceed with the early transfer alternative presented in the Final Environmental Impact Statement. At the moment there are three parcels of property that are being transferred, the VA Health Clinic and two credit unions.
The VA Health Clinic along with five surrounding buildings will be a part of a federal to federal property transfer. In the past, all a federal department needed to do to obtain property from a base closure was to ask. In recent revisions to the Base Realignment and Closure (BRAC) Act the purchasing department now has to make a budgetary transfer from their department to the Army for the property. This elimination of free property has limited the total amount of federal property that will rem… Continue Reading Fort McPherson Property Transfers Beginning

Posted in Atlanta, East Point, Fort McPherson

Will Higher Inflation Impact Mortgage Rates?

Your Guy for That Tuesday, May 24th, 2011 No Comments

April’s Consumer Price Inflation Index (CPI) released last week showed inflation up 3.2% from one year ago.  This is the highest annual rate in 2.5 years!  Core CPI, which excludes food and energy, increased at a 1.3% annual rate (see chart below).  While Core CPI remained well below the Fed’s target range of around 2%, it is up 1.2% over last month and 0.8% over the end of last year.  Thus, Core CPI is also trending higher.
Normally, a report such as this would be a major alarm to investors and cause rates to shoot up.  However, get this, mortgage rates actually fell a hair after the news.  Everyone knows that inflation is negative for mortgage rates.  What the heck is going on and how can this possibly be?
The likely answer is that investors expect that the majority of the increas… Continue Reading Will Higher Inflation Impact Mortgage Rates?

Posted in Uncategorized

East Point Tour of Homes – May 28th

Your Guy for That Monday, May 23rd, 2011 No Comments

East Point Tour of Homes
May 28, 2011
You can view 6 homes in one afternoon without any pressure or hassle! The tour starts at 2:45 and ends just after 5:00 with each of the 6 homes being open for just 15 minutes each. You can visit all 6 homes or just pick the homes you want to see, just don’t be late because the tour will keep a strict schedule to accommodate everyone on the tour.

Jefferson Park

2:45
to
3:00

 

 2476 W Woodland Circle
 $145,000

3 Bedrooms
2 Bathrooms
1 Car Garage

Best location in the neighborhood! Stylish updated hilltop traditional home with living room/dining room combo, den, large updated kitchen featuring granite countertops, new cabinetry, stainless steel appliances, hardwood floors everywhere, two updated baths, masonry fireplace, garage with stor… Continue Reading East Point Tour of Homes – May 28th

Posted in Buyer Tools, East Point, First Time Homebuyers, Metro Atlanta, Real Estate

This Month in Real Estate Video

Your Guy for That Friday, May 20th, 2011 No Comments

In this month’s video learn how you can increase your home sale by an average of 2%. Are you considering making improvements to your home, check with a REALTOR first to get some news you can use.

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Your Guy for That, Dustin Drabot is a real estate expert serving the East Point, Fort McPherson, College Park, Hapeville and surrounding metro Atlanta area. A member of Keller Williams Realty Intown Atlanta, Dustin can be reached directly at 404-507-2267 or Dustin@YourGuyForThat.com

… Continue Reading This Month in Real Estate Video

Posted in News & Reports, Real Estate

May Inventory Report

Your Guy for That Thursday, May 19th, 2011 No Comments

The supply of homes measured in months on the market, if sales continue at their current pace, remained stable compared to the previous month. This is the third-lowest level since June. Inventory levels remain 33% below its peak of 12.5 months in July and only slightly above where it was last year when the tax credit was in full-swing.

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Your Guy for That, Dustin Drabot is a real estate expert serving the East Point, Fort McPherson, College Park, Hapeville and surrounding metro Atlanta area. A member of Keller Williams Realty Intown Atlanta, Dustin can be reached directly at 404-507-2267 or Dustin@YourGuyForThat.com… Continue Reading May Inventory Report

Posted in News & Reports, Real Estate

PRICE REDUCED – Amazing Bungalow Renovation in Colonial Hills

Your Guy for That Wednesday, May 18th, 2011 No Comments

Open House Sunday 1:00 – 4:00

1434 Hawthorne Way

EAST POINT, GA

Charming Bungalow in Walkable Colonial Hills Neighborhood

2BR/1BA Single Family House

Buy for $60,000
Rent for $700/mo.

Year Built
1952

Sq Footage
972

Bedrooms
2

Bathrooms
1 full, 0 partial

Floors
Unspecified

Parking
1 Covered spaces

Lot Size
0.132 acres

HOA/Maint
$0 per month

Description

Amazing East Point Renovation! Stunning hardwood floors & new paint throughout. Top-Notch kitchen renovation with granite counters & stainless appliances. Classic bathroom redo with beadboard, new tile & fixtures. Covered Parking. Adjacent from park. Walk to Marta, restaurants & Romar Academy

Prop… Continue Reading PRICE REDUCED – Amazing Bungalow Renovation in Colonial Hills

Posted in Buyer Tools, East Point, First Time Homebuyers, Fulton County, Investment Real Estate, Keller Williams, Metro Atlanta, Open House, Real Estate, Renting

Empty Nesters: How to Get the Most Money Out of Your Home When You Sell

Your Guy for That Wednesday, May 18th, 2011 No Comments

Are you an “Empty Nester” who needs a home for the future? Is it time to downsize or to move into another home more suitable for your glorious retirement years?
Like thousands of residents in our area, you may be discovering that after years of non-stop child traffic in and out of your doors, toys on the floor, music floating throughout, suddenly you can hear a pin drop over the quiet hum of the refrigerator. Your rooms are filled with pictures and memories of this wonderful time of your life, but there are many empty rooms gathering dust now that your children have moved on. The freer years ahead are exciting ones to look forward to, and it’s time for you to move on as well.
If you find yourself in this situation, you’re in vast and good company. And what that means is that there are many… Continue Reading Empty Nesters: How to Get the Most Money Out of Your Home When You Sell

Posted in News & Reports, Real Estate, Sellers
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