4Th Quarter Stats #4

I have been kind of busy working on an offer, but here are a few more stats about 2008 sales.

• The number of sales in all segments of the Atlanta home market have declined in 2008 and the degree of slowing varies only slightly by segment, above $200K.

• The smallest impact was in the <$200K price range, which is likely due to the larger portion of lower-priced foreclosure sales in that price range.

• Overall, sales of New properties fell more than Resales.

About the third stat, this is the first time we have seen this since 1993.

GW

4TH Quarter Stats #3 - Super Bowl Pick

Happy Super Bowl Sunday! I am about to do some cooking and start getting ready for tonight's game. But first, I wanted to give you another interesting stat.

• The percentage of sales that were foreclosed properties more than doubled to 23.6% of total sales recorded in FMLS through 2008.

Foreclosures have added a negative effect to an already weaker market in 2008 and represent a large portion of sales in the $200K and below price range, likely accounting for the higher level of sales in that price range.

Now, after that good news, here is my pick for tonight's game : Steelers over Cards. This is a hard game to pick because haven't seen each team play that much, but I will go with the team that one the big game a few years ago. Plus, I am a huge UGA fan and I have to root for Hines Ward. So everybody have a fun and safe night, and I will post some more tomorrow.

GW

4TH Quarter Stats #2

For single family detached homes:

• Total sales in 2008 were down -22% compared to 2007
• Each month sales were lower compared to 2007, except for September.

GW

4TH Quarter Stats #1

So, I got out of the stat presentation last night a little down about what I saw, but hopeful that our market will be better soon. There is a great deal of information that Chuck Carr at ChartMaster Services, LLC found, and I will give you a some of these stats in the next few weeks. If you would like more information including the graphs, please just contact me. Here we go!

• Keller Williams Realty ranks #2 in Atlanta in total sales of Condos, Townhomes, and Single Family Detached Residences.

• Keller Williams also has maintained or increased its Atlanta markets share every year since 2003.

For me, I am very proud of my company and this just shows you that we are definitely doing something right. I think I will end on this good note, and bring you the negatives later.

GW

Atlanta 4th Quarter Housing Figures Coming Soon!!

I am about to head into the boss man's 4th quarter stat meeting. This is a meeting that an agent like me should never miss. Shawn Rawls gives a perfect presentation about the real estate market here in Atlanta and how we are fairing in all areas. I will drop some knowledge on you after the presentation.

Grant

It's like "Pulling Teeth" to get Sellers to Price Correctly

Below there is a great article about sellers and their unwillingness to see the reality of the housing market. Real Estate agents are constantly battling with their clients about the correct price of their home, but now is not the time to price incorrectly. I always like the quote " Your home is worth only what the buyer is willing to pay for it". So please talk to me or your agent about what your home should be listed at.

• http://www.msnbc.msn.com/id/27648884/

U.S Takes Over Mortgage Giants

With the government taking over Fannie mae and Freddie mac, I only see goods things coming from this. This will beneifit lenders, which benefits real estate agents, which in turn benifits the most important person: you, The Consumer! Good Stuff! Some additional articles are listed below.





More Articles:

• Experts: Fannie, Freddie takeover helps in limited way - AJC.com
• U.S. bails out Fannie Mae, Freddie Mac, ousts CEOs - ABC
• MCCAIN: FOCUSING ON FREDDIE/FANNIE - MSNBC.com

Grant

Pending Home Sales Increase

According to the National Association of Realtors, the pending home sales increased 5.3% from May to June. Pending Home Sales are a leading indicator of future housing market activity, so the next Existing and New Home Sales reports may show increases as well. It seems that buyers, especially first time home buyers, are taking advantage of this market. Good to see!

More on Pending Home Sales Increase

- Atlanta Business Chronicle

- msnbc.com

- USATODAY.com

Grant

Atlanta Family Selling Their Home To Help Hunger

The Salwen Family here in Atlanta is selling their home and donating half the price to The Hunger Project. The 5 bedroom home is listed at $1.8 million and has been on the market for almost a year. This idea was started by 15-year-old Hannah Salwen, and if you want more information on their project, click here.



If the video doesn't work, here is the link to it.


Grant

More Help for Homebuyers

Next week the Fed will set up new rules aimed at protecting homebuyers from the shady lending practices we have had in the past. This current mortgage meltdown was caused by lenders giving loans to people who weren't the best candidates for a loan. Negative amortization loans, no documentation loans, and loans given to people with poor credit are all things of the past. The rules include getting rid of the prepayment penalties for paying a loan off early, requiring borrows to set aside money for taxes and insurance, and having the lender see proof of income from all borrowers. This is a good move, and it should help homebuyers get themselves in a better situation when dealing with the financial obligations of owning a home. For more on this, Yahoo! News has an article.

Grant

More On Mortgage Rates

The Today Show once again has a great segment about the tips and strategies buyers and sellers should take when finding a mortgage.



Here Here!


Grant

Atlanta's Real Estate Market is Doing Better

According to an Erin Moriarty article of the Atlanta Business Chronicle, Atlanta's real estate market is fairing better than 20 major cities across the county. Our home prices aren't declining as fast as the west and sales are starting to pick up. High end property, homes around the city, and first time home purchases are all doing well. When we hear about the "real estate crisis" , just remember that your market might not be as bad when compared to the county as a whole. Just know that Atlanta's good, and we shouldn't hold back from taking advantage of the market we are currently in.

Grant

Georgia's Drought Still Not Getting Any Better

I woke up this morning thinking it was going to rain, but once again, the sun is out and the temperature is climbing. So I thought I might put a little information about the drought we are in. Stacy Shelton of the AJC reports that conditions are much worse than they were last year. She explains that last year Lake Lanier was 5.4 feet below and now it is 14.4 feet below. So follow your local water restrictions and conserve the best you can.

Grant

More on Mortgage Rates

In this video, Bill Liss of 11Alive discusses the rise of mortgage rates we've had the past few months. Good news is we are still below the national average.




Grant

Three Month Rate Increase

The last post I told you how rates are increasing, and I thought I might show you a graph of this. Robert Gilbreath in my office came up with this. The graph shows the change between April 15 to June 16.


Grant