HouseSource

Summer's Here!

2010-06-21T11:18:00.001-04:00

Georgia Renaissance Realty, LLC
Visit us on the Web at http://www.soldbyruth.com/
404-252-4895

Friday, June 18, 2010

Property values rose in Atlanta! Okay, that is if you live in 30080, 30024, 30004 and 30223. The report also showed that certain areas like Va-Hi, Brookhaven and Decatur lost less than 5%. That is great, especially when some areas are down as much as 30%. This shows that people are still out there buying, but of course are using the market to their advantage and buying in the most sought after areas. http://www.ajchomefinder.com/mortgage-center/what-your-home-gained-528966.html

New homes and age-restricted homes factor in most of the increases. Along with the fact that pending contracts were up for the third straight month and that consumer confidence rose as well are signs of positive trends. http://realtytimes.com/rtpages/20100607_realestateoutlook.htm
If you aren’t lucky enough to live in those areas, don’t despair. A positive trend anywhere in this market is a good sign that things are moving in the right direction.

Don’t forget Father’s Day is this Sunday. I think a lot of dad’s would like The Allure of the Automobile exhibit at the High. This coupon code 3OFFADULT should get you $3 off adult tickets. They have Music and BBQ from 2-5 PM and the BBQ plates are $12.

Do you have a blog? Let me know and we can share comments.

Buy it or Sell it? Check out these cool high-tech homes. http://www.forbes.com/2006/07/31/cx_gd_0801homeslide_3.html?thisSpeed=20000

DIY Atlanta in the fall is perfect for enjoying an outdoor fire in the evenings, so get started now and you should be ready by football season. http://www.thisoldhouse.com/toh/how-to/intro/0,,1636191,00.html

If you have a DIY project in the works please share before and after pictures.

Let Us Know! Do you have a neighborhood event, charity drive, yard sale coming up? Let me know and I will include it whenever possible sprinkleruth@mindspring.com

Foreclosure Opportunity

2010-06-04T10:42:00.001-04:00

This article on Trulia is a great reality check. http://www.trulia.com/blog/taranelson/2010/05/top_10_myths_about_buying_a_foreclosure
There are some big misconceptions out there about purchasing a foreclosure. What I see and hear about the most is the expectation of a price 50% below value. While it does happen, I rarely see it. They are also typically more complex than the average sale, so many find them too frustrating. The current distrust of banks (although really were they ever in the circle of trust?) makes things a bit more emotional too. My advice is that anyone thinking of purchasing a foreclosure should do their research and be prepared, flexible and patient and you’ll be well compensated.

We had a great 40th anniversary dinner at Haven in Brookhaven. I highly recommend it for a special occasion.

Weekend Plans

2010-04-16T07:51:00.000-04:00

Have you ever had that terrible feeling when someone else’s troubles make you feel better? The Germans call it schadenfreude. Before you start to think I’m really smart…I learned that word from watching the Simpsons. I got schadenfreuded when I read this article http://www.newsgeni.us/articles/208/Rich_and_Famous_Not_Immune_to_Foreclosure.html.

For those of you who don’t watch local news you may have missed the FREAKING OUT over possible return of Freaknik this weekend. I don’t think it is going to be anything close to what it was in the past, but there are several other big events going on this weekend that on their own will cause some major volume on our highways, including the Dogwood Festival, the Braves are playing at Turner Field, and the Hawks are in the play-offs.

To avoid the mess you may want to stay in…but then you’d miss all the fun too! Craig and I are still deciding what we are going to do.

I recommend MARTA. For the Dogwood get off at Arts Center or Midtown at 10th Street Stations, for the Braves/Hawks get off at 5 Points or CNN. If you look at the top of the screen they have rail alerts where they post real-time delays and important information. Watch the weather as we may have some rain on Saturday. Before you hit the roads check out Georgia Navigator click on cameras and you can see all the highways. The connector and I-20 will be the hardest hit. The good news is that the DOT has cancelled the construction that was planned for this weekend due to the high volume of traffic expected. Whew!

Buy it or Sell it? So what kind of inspection is recommended for these homes? Cliff and Mountain Homes

Don’t Forget! There are only 15 days left to take advantage of the first time homebuyer's tax credit of $8000--it expires April 30th--a house has to be under contract by then and close by June 30 to take off taxes this year. Click Here for IRS.gov info on First Time Homebuyer Credit.

New Trends

2010-04-05T10:13:00.000-04:00

How to Take Advantage of 6 Housing Trends I thought this was some great advice from Money Magazine. Here in Atlanta there are currently about 3,700 Active listings marked as foreclosure or corporate owned. However, that requires the listing agent to mark it as such when they enter the listing, so that amount is probably even greater. At my company we are seeing a lot of investors and first-time buyers due to the amount of foreclosures on the market and that new homebuyer credit.

Buy it or Sell it? Rock On! Click here for an interesting tribute to music. Click Here to See a Rockin' Home

Don’t Forget! There are only 30 days left to take advantage of the first time homebuyer's tax credit of $8000--it expires April 30th--a house has to be under contract by then and close by June 30 to take off taxes this year. Click Here for IRS.gov info on First Time Homebuyer Credit.

Let Us Know! Do you have a neighborhood event, charity drive, yard sale coming up? Let us know and we will share with our audience whenever possible. sprinkleruth@mindspring.com

Current status

2010-03-25T15:23:00.000-04:00

Relief for (about 45,000) Under Water Borrowers – Some think this is a great idea, some think sends the wrong message or is unfair, what do you think? Click here to watch this video and weigh in on my blog or send me an e-mail at sprinkleruth@mindspring.com

Quicken Loans, Inc. CEO comments on Housing, Not at Bottom Yet? I though this interview with Bill Emerson was interesting. He thinks that we have hit the bottom in some areas, but not in others. When I look at our inventory in Atlanta as of this morning, we have 37,587 active homes and 1,104 of those active homes are under contract. In February 2010 we had 8,761 new listings come onto the market and 2,712 homes sold. When we compare that to last February we had more new listings coming on the market with 9,278 new listings, and less sold with a total of 2,607 sold in that month. It is this type of trend that we need to see consistently before we are in recovery. I think we are on our way now, but there will be ups and downs as we steadily correct this market.

The single-family market is stabilizing and despite this El Nino weather pattern building activity held firm. NAHB Chief Economist David Crowe is even predicting a 25% gain in new home construction.

“With the deadline for purchasers to take advantage of home buyer tax credits fast approaching at the end of April, improvement in single-family building activity was expected and may have continued into early March. Moreover, the very thin inventory of new homes now on the market, the pent-up demand from three-plus years of low household formations and good affordability conditions will provide the platform for a 25% gain in new-home construction in 2010 over 2009.”

The Federal Reserve has also promised to keep rates low with dissent from only one member who fears inflation; the low rates are good news for buyers. I don’t think (and I certainly hope we don’t) we will reach the levels we had a few years ago, but I know that I have felt a shift in sentiment recently. Our listings are getting shown - and sold - and there are buyers out there that need homes. While there are of course those that will wait for the bottom and perhaps miss these low rates, many others want a house for a pretty simple reason, to live in it. To have a place called home, to escape noisy upstairs neighbors, for a big basement for family gatherings, to make room for new little ones and to scale down on household responsibilities so you can fulfill that bucket list.

While in the long term a home is always a good monetary investment in the short term a home is an emotional investment that I see pay off when I hear how my clients love their home. Click here to watch the video. Read more here http://mizrealty01.wordpress.com

Buy it or Sell it? This is cool, see if you recognize these homes from popular movies. I wonder what the neighbors think? http://www.flickr.com/photos/hoffarth/sets/72157616316553286/

Don’t Forget! There are only 36 days left to take advantage of the first time homebuyer's tax credit of $8000--it expires April 30th--a house has to be under contract by then and close by June to take off taxes this year. Click Here for IRS.gov info on First Time Homebuyer Credit.

Let Us Know! Do you have a neighborhood event, charity drive, yard sale coming up? Let us know and we will share with our audience whenever possible. sprinkleruth@mindspring.com

Updated foreclosure information

2010-03-13T12:43:00.001-05:00

U.S. Foreclosure Activity Decreases 2% in February 2010 – Every little bit of good news helps in these trying times. According to RealtyTrac the foreclosure rate for February was down 2% from the previous month, this was still 6% above what was reported in February of 2009. Also that 6% increase from February 2009 to 2010 was the smallest increase we’ve seen since 2006. While it would be nice to say that this meant less people were losing their homes, what it probably indicates is that foreclosure prevention programs are helping homeowners. Read more here http://mizrealty01.wordpress.com Or click here to read the full article.

I know someone that used NACA to help avoid her foreclosure. It has taken her a long time, about 18 months, but she is finally getting some relief.

Buy it or Sell it? So that amazing weather we had earlier this week got me thinking of the beach. Wouldn’t you love to be here? Sea Island Home It is always fun to dream!

Please remember to turn your clocks back. This Sunday daylight savings time begins, so set your clock forward before you go to bed on Saturday.

Don’t Forget! There are only 49 days left to take advantage of the first time homebuyer's tax credit of $8000--it expires April 30th--a house has to be under contract by then and close by June to take off taxes this year. Click Here for IRS.gov info on First Time Homebuyer Credit.

Let Us Know! Do you have a neighborhood event, charity drive, yard sale coming up? Let us know and we will share with our audience whenever possible. sprinkleruth@mindspring.com

Buying Opportunity

2010-03-04T09:12:00.000-05:00

Housing Most Affordable in 18 Years – The HOI shows that 70% of homes sold at the end of 2009 were affordable to those families earning the national median income of $64,000.

Buy it or Sell it? Would you like to buy or sell Vatu Vara Island? Also known as Hat Island it is a cozy little hideaway near Fiji surrounded by a coral reef, lagoon and beaches for a cool $76 million…why not?

Better safe than sorry! Make sure anyone doing work on your home is licensed where required bonded and insured. Protect yourself from lawsuits from workers injured while working on your property and damage that may be done to your property.

Timing is everything. At least in this case it is! There are only 57 days left to take advantage of the first time homebuyer's tax credit of $8000--it expires April 30th--a house has to be under contract by then and close by June to take off taxes this year. Click Here for IRS.gov info on First Time Homebuyer Credit.

Let Us Know! Do you have a neighborhood event, charity drive, yard sale coming up? Let us know and we will share with our audience whenever possible. sprinkleruth@mindspring.com

A Street Car Named Desire

2010-02-22T14:30:00.001-05:00

A Desire Named StreetcarFebruary 22, 2010 by mizrealty01
STELLAAAAAAAAAAAAAAAAAA!!! Okay, if someone gave you 87 million dollars and said there is more where that came from if you spend it…what would you do? Personally, I would spend it, but apparently that didn’t happen with the government funding Atlanta received to spend on the Atlanta-Lovejoy commuter rail line.
Some point to that reason for why we didn’t receive the recent stimulus money offered for the streetcar project that is proposed to run up Peachtree from Five Points (Downtown) to Midtown and an intersecting line from Centennial Olympic Park and the King Center.
For a complete list of those cities that did receive stimulus money in this recent offering, click here Final TIGER grant info.
I’m glad to hear that according to AJC, city officials haven’t given up hope and will continue to compete for funding for this project as well as others. Another $600 million will soon become available for federal grants.
This project, like any, has as many detractors as supporters, but with our worsening traffic I have to ask – are we just masochists or are we worried that if we support mass transportation projects like the streetcar, high-speed rail and the Brain Train that we would lose our favorite topic of conversation in Atlanta? Traffic!
OH, and by the way, out of 51 projects awarded by the Obama administration, none were awarded to Georgia

Time is getting short!

2010-02-08T13:14:00.002-05:00

The Federal Government has announced that they are going to ease out of buying mortgages in the secondary market, as of March 31, 2010. What does that mean for you as a buyer? It means mortgage rates will go up! If you pair that fact with the fact of the expiring home buyer's tax credit ($8000 for first time buyers, and $6500 for move up buyers) ,which expires at the end of
April, it means that sellers have a very limited time frame this year to try to get their home SOLD!

We are actually getting multiple offers on our listings THAT ARE PRICED RIGHT!! So, there are ready willing and able buyers out there,who can act fast, when they find the right house at the right price.

Time is running out!

2009-09-09T12:31:00.002-04:00

Only 24 days left to take advantage of the $8000 tax credit. If you live in Georgia, there are other tax incentives for purchasing, totaling up to $14,000! It's almost like getting free money!!

We have plenty of opportunities now for first time home buyers, with more coming. LOTS of foreclosures and short sales available, and it is DEFINITELY a buyer's market! In fact, buyers won't buy now unless they think they are 'getting a deal'...so, if you've been waiting on the sidelines, now is the time to JUMP IN!

Keeping up with Technology

2009-07-09T16:18:00.002-04:00

Got the new iPhone and am learning (slowly! and with the help of some teenage neighbors) all the applications that this phone can do besides telephoning--it's like having a computer, a gps system, a video camera, a palm pilot--a virtual assistant in one device!!

I'm not selling these phones, am just amazed at what technology is available in a small, compact design!

Dawn of a New Day!

2009-07-06T14:09:00.002-04:00

We celebrated July 4th this past weekend, 10 days or so after the passing of several celebrities--Michael Jackon's passing has received most of the media attention, due to his talent as a performer, his international audience, and his personal life and tribulations. While I don't want to diminish Jackson's talent, it seems to me that the accolades and tributes, which are
STILL ongoing , surpass his actual legacy, as he was NOT a leader of a country, nor a spiritual icon....and, ...yet, the tributes continue, and projections are that his estate will make more money than he did while he was alive.....so, what does that say about our society and our need to idolize celebrities?...and what does any of this have to do with real estate?

Michael Jackson's Neverland estate had gone into foreclosure proceedings a year or so before our current economic collapse! It's my understanding that it was saved from being foreclosed on, but that someone of his great wealth could become a foreclosed homeowner was an 'eerie' prediction of what we're living through right now. Ed McMahon at age 86 was about to lose his home to foreclosure--this after a lifetime of TV promotional work and at wages that must've been 'above average' earnings.

So, the lesson here? Save more? Spend less?...or, is the lesson that maybe there's a basic flaw in our system?... that these two very wealthy people could almost lose their homes, where does that leave the average American homeowner? Current predictions are that up to 4 million Americans will lose their homes (or will have lost their homes) before the economy turns around--those numbers are staggering, to say the least, and the next wave of foreclosures is going to be in the 'high end' of the market, the luxury homes.

So, the dawn of a new day, is us taking responsibility for our actions;prosecuting and jailing those wall street crooks(other than Madoff, is anyone else even targeted?!) that encouraged the mortgage brokerages to make loans, knowing the loans would go bad. With this 4th of July celebration, let's all set our intentions for appreciation of true independence and true justice, and true FREEDOM!

Best Buy Opportunities!

2009-04-26T12:15:00.002-04:00

Now, with TARP funds actually being sent out and received, many communities have a unique opportunity to revitalize neighborhoods that have been decimated by this wave of foreclosures.

We currently have 'best buy' opportunities in zip 30315 for owner occupants only. If you are a first time homeowner, now is an exceptionally good time to purchase, as there are down payment assistence programs available, and tax credits for up to $14,000!...and, don't forget historically low interest rates!

Call for more details! 404-252-4895.

Is the world coming to an end?

2009-02-02T10:27:00.002-05:00

With all the gloom and doom out there, it might seem so! But, the reality is, there are home buyers out looking to buy right now, in your area! Interest rates are low, prices have come down, and the buyers understand that NOW is a GREAT time to buy!

As I write this, 30 fixed rates are at 4.75%! Unbelievable, isn't it? With the bailout looming, politicians are having to include some tax credits, and, as I write this, one of those tax credits is $15000! tax credit for buying your first home--that's amazing also!

So, tell all your friends, family members, work acquaintences that NOW is the time to act--with the government printing $ to fund the bailout, for certain, we will be looking at inflation soon, and that translates to higher equity in your homes or investment properties. Real Estate has been the basis for most people's wealth in the world, and, despite this current downturn, that statement is true.--the downturn just makes it easier to purchase at lower prices.

Market update

2008-08-13T09:05:00.003-04:00

Hello,

I've been too long in posting, but got sidetracked with illness of my brother, who is a stroke victim--he fell and broke his foot, and his recovery has been very difficult for him and us!

But, am glad to say that now, finally, he has been given the go ahead to use that foot to walk on again, and so he's back in physical therapy, learning to use that paralyzed side. Not easy!

The market still is flooded with foreclosed properties, and yet more to come. I'm member of a real estate investor group,-- the leader of the forum is out of Dallas, Tx, and she subscribes to a publication that goes to all REO managers for banks. The word in the latest publication is that REOs are not going to peak until 2009,-- late in that year,... so that means, we still have at least a year to go!! So, if you are looking for bargains, be aware that the market still may have some way to fall yet, and those calculations should be included in your offering price.
Call me if you want more details on this information!
Have a great week!

I'm being interviewed on radio!

2008-04-21T16:59:00.002-04:00

This is exciting news for me! I recently met with the" Creativity Doctor" who has his home up for sale, and he and I were discussing all manner of things from the current real estate market to his story of how he 'visualized' himself already occupying his current home, before he actually owned it!--well, that story opened up a different line of discussion on how we attract what we want (and what we don't want) into our lives, the role of attitude in living our lives, etc....anyway, long story short, I'm going to be an interviewee on his radio show.

Will be sure to post the link here when I actually have it up on line. Could be a lively discussion! In fact, this might be turned into part of a book he's writing--it's not on line yet, but should be soon--"Open your i's:10 Steps to Unleashing Your Inner Creative Power"--when available, should be able to get it at www.neiltepper.com.

I'll post when this interview is supposed to air!

There's definitely an uptick in real estate activity, since tax due date has come and gone. It's a GREAT time to buy!

Today's News

2008-03-24T09:05:00.004-04:00

Hope everyone had a wonderful Easter Holiday weekend. The weather here in ATL was BEAUTY-FUL! Today, Wall Street will get housing numbers, so watch to see the impact of those numbers on the stock market and the bond market...we're still waiting to feel the impact of the Federal Reserve's slashing rates and injecting more $$ into the credit markets.

Regardless of what the figures are today, for most folks, buying a home will be determined by down payment and monthly payment.

Lenders are still tightening credit standards, as the foreclosures haven't hit bottom. So, if you're in the market for a home, please get pre-approved ASAP! so you don't have to deal with disappoint news down the road.

I've added an rss feed from Bankrate.com to this blog, to help figure out current rates.
Would love to get your feedback.
Have a magnificent week!

Market UpDate

2008-03-02T14:01:00.002-05:00

Wow, this has been a volatile week, with oil pricing getting over $103 a barrel and home sales falling across the country. Atlanta hasn't had the huge price run ups that other parts of the country had, so, hopefully, pricing won't fall as much as those part of the USA.
Here's a link to current market conditions:http://realtytimes.com/112/RuthSprinkle.
Spring is finally bursting out here, with today's temps in the high 60's! Very Welcome!

Motivated sellers!

2008-02-23T08:25:00.002-05:00

We have several new listings, most are pre foreclosures, all over metro Atlanta area. All are single family homes. Some are vacant. All want offers, so, if you have any interest, or need more information, please contact me! 404-252-4895

New Opportunities

2008-02-22T13:36:00.002-05:00

With every crisis, there is opportunity, wise eastern minds would say. So, where is the opportunity in this current subprime /real estate crisis? An obvious one is to buy foreclosures, but how do you know what is really below- market pricing, when the prices are falling?Have you thought of finding rental homes for those folks who no longer can afford the home they'd purchased?...Or, what about lending money for folks who want to purchase, but can't jump through all the current lending hoops? Most of the media attention is on residential real estate, but there is plenty of opportunity in raw land or in acquiring building lots from builders who no longer can carry vacant lots on their books while they wait for the economy to improve.
Where do you see the opportunity? I'd love to hear what folks are doing out there., and where you see the current opportunity.
We currently have some short sales and pre- foreclosures that might work either for first time buyers or investors. Check out the web site: www.soldbyruth.com. for more details.

Mortgage rates are lowest in three years!

2008-02-08T15:59:00.000-05:00

Now is a Great time to buy a home! Rates are low, and I think, going lower, and there's lots of inventory!...and, with the stock market up one day and down the next, real estate is starting to look better and better. As a buyer of real estate, this is your year!

House Revenue

2008-02-07T09:55:00.000-05:00

Hey, investors,

This is to those real estate investors who still BELIEVE in the value of owning real estate (because a lot of folks have gotten out of the business!). This is the Most Opportune time to invest, yes, right now, while everyone is saying how terrible the market is!...But, I'm not saying that you can go out and buy just anything right now;you do have to be smart.
There is a seminar coming up in April, www.RealEstateDays.com, that I know of, am not a sponsor of, but would be a good place to start and educate yourself.
Check it out!