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Buyers can now purchase a home price protection policy from several resources.  These policies provide a homeowner peace of mind knowing that the equity in their home is safe. These policies pay you directly upon the sale of your home if the equity declines below the local house price index (FHFA) from the time of purchase.  Naturally all these policies have fine print and terms. The terms and condition's of these polices vary, but most protect for at least fifteen years ... (Read more)

Here's the reason why? Since 1966, the median price of an existing single family home in the  U.S. has varied between 150% and 251% of personal income per household.  However, roughly three-quarters of the time it has been in a relatively narrow band between 185% and 230%. In September 2011, the ratio was just 153%, implying that to get back to an average price to income ratio, home prices would have to rise by about 27%.” During the week of October 7, Freddie Mac reported ... (Read more)

Appraisals have been a problem for homeowners for quite some time.  All traditional lenders have changed the guidelines in regards to the comps that can be used several times over the last few years. As of September 1st 2011 there will be yet another huge change. Appraisers will now follow something called UAD – Uniform Appraisal Dataset.  Appraisers will now be required to collect a  lot more information about a home’s features and upgrades for all new appraisals.  Appraisers will also need the date ... (Read more)

Low mortgage rates are terrific — if you can get them. One week after posting its lowest mortgage rate in 50 years, Freddie Mac reports that the 30-year fixed rate mortgage rose by an average of 7 basis points nationwide this week to 4.22%. To get the rate, you’ll pay an average of 0.7 “points”. This week’s rise in the 30-year fixed rate mortgage pulled rates off their all-time lows so either you locked last week’s rock-bottom rates, or you ... (Read more)

Even though we’re in tough times, Smyrna’s Mayor Max Bacon announced at the “State of the City” meeting that Smyrna still has a AA+ bond rating, a balanced budget and has kept the property tax millage rate the same since 2007. Max and the city council have achieved all of this without any furloughs, tax increases or city facilities closing. Keep in mind Smyrna’s had a 25 percent increase in population in the past 10 years. Without proper planning ... (Read more)

Facebook has just announced their opening a 5,000 square foot sales center at the Brickworks building in Atlanta. This is a beautiful old building that offers exposed brick, outdoor terraces, and even an employee kitchen with a city view. It would be a very hip place to work. Over the last few months Atlanta has attracted several tech giants and software companies. Google has also significantly expanded their operation and size in the metro area. Very few cities have the jobs ... (Read more)

  We all hear a lot about bankruptcy today.  Unfortunately many of us know of someone that had to file.  It’s a practice most people don’t fully understand.  I told someone not long ago it dated back to when Columbus landed, but after some research I actually found it’s a more historic practice.  Did you know bankruptcy is part of The Constitution of The United States and grants Congress the power to make or change bankruptcy laws?  I was very surprised to find ... (Read more)

It just sent me spinning when I read the Sunday AJC headlines “NO TELLING WHEN WE’RE HIT BOTTOM”!   There isn’t any question that some areas of Atlanta haven’t seen the bottom yet.  But the very facts this article used showed that north metro suburbs were stable or had increased in value in 2010.  It’s very confusing; no it’s alarming when the AJC uses headlines like this.  I feel the average person can drive through Vine City and understand why it’s ... (Read more)

Data is showing that homes values in Smyrna and Vinings have increased in value over the last 12 months. Smart Numbers reported that homes in zip codes 30080 and 30339 saw an increase in value of approximately 10 percent year to date. While the economic recovery is still fragile I’m seeing home values increase in these areas.   If you want to see whats for sale in Smyrna and Vinings please click Neighborhoods above on my web site.

  Home resale rose 4 percent last month, according to the March Existing Home Sales report.  A total of 5.1 million homes were sold on a annualized, seasonally-adjusted basis. The strong results re-established the national, long term trend toward rising home re-resales. March marked the 6th month out of eight in which sales volume has increased and sales are up 32 percent from July 2010 lows.  At the current rate of sale, the entire home resale inventory would be depleted in 8.4 months.  This is 01 ... (Read more)