This perfect home located in the trendy Brookhaven neighborhood is close to the popular shops and restaurants along Dresden Drive and within walking distance to the neighborhood park with tennis courts and playground. Canmont Drive is a great street surrounded by more expensive new construction and easy access to I-85 and Buckhead. The stately magnolia tree in the front yard provides charming curb appeal which is further accented by the stained front porch. The interior is very open and bright with high end finishes found in more expensive homes. The backyard is fully fenced and professionally landscaped with a stacked stone wall, plenty of grassy area for play, and a spacious deck to relax and entertain. Offered for $519,000. Please contact Dede DeYonker for more details or to view this home at firstname.lastname@example.org or 404-626-1874.
So why do people buy and sell houses?
Bottom line it’s usually because of life circumstances. My husband bought his first condo because I think he was ready to be an adult and was ready to ask me to marry him. He probably thought owning a condo was a good step toward both of those ambitious goals. Why did we buy our next home? I was expecting our first child and the 17th floor of a Buckhead condo didn’t feel like the best place to start a family. Our second home? Our 4 ½ year old son would soon be starting Kindergarten forcing us to consider important education decisions. We decided to move to a great public school district instead of paying private school tuition. Our next home? We tore down our 1920’s bungalow to stay in a great neighborhood and increase our property value more than we could have with a renovation. After that, with my husband and I both having careers in real estate, we got a little carried away and moved more times than I originally planned over the years.
Sure everyone is interested in interest rates and how the market is doing, but it’s the people that live in the homes and the circumstances at the time that prompt the move. Having been blogging for a couple of years now, I’ve realized the posts I enjoy most are the ones that are from personal experience while still relating to great schools in the Atlanta area and all the things affecting families and children with their changing needs and interests. For that reason, all my posts will now be original instead of stats or information that can be found on Google.
I have a wealth of information on all things relating to home buying and selling in and around the Atlanta area and would love to be considered your “go-to” for answers and advice.
Happy New Year and to a year full of many happy life circumstances.
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Recently driving down Riverside Road along the Chattahoochee River in Roswell on a Saturday morning gave me that itch only runners know as they pass other runners out on the road. It’s such a picturesque hidden gem that feels more like a resort area than a suburban neighborhood within minutes of the major arteries leading into downtown Atlanta. The winding paths were being enjoyed by runners training for their next race, the weekend warrior looking to burn a few calories, bike riders, and happy tail-wagging pets. Just beyond the path, the Chattahoochee River was dotted with fly fishermen among the river rocks and rippling flowing water.
Located just steps from this outdoor enthusiast’s dream is the upscale gated community of Riverside Park. I’m delighted to be representing the seller on the sale of their home at 5025 Riverside Park Drive. The sophisticated finishes within artfully extend to the outdoors for full enjoyment while entertaining or just spending time with family.
For the past several months the media has been reporting about all of the shadow inventory of homes that is going to hit the market like a tsunami wrecking havoc on the gentle recovery we are beginning to see, or producing big opportunities for investors ready and waiting to snatch up a deal. This report from Freddie Mac downplays the possibility of shadow inventory having a noticeable impact on the current inventory.
Freddie Mac: Threat of shadow inventory subsides, home prices rise
by: Kerri Ann Panchuk
It’s often feared a shadow inventory of homes will flood the housing market derailing the fragile recovery that some now believe is under way. But a new report from Freddie Mac says this view may be too pessimistic given today’s rising home prices and falling REO levels.
While the real estate market has its share of distressed loans and assets looming on the sidelines, the nation’s excess supply of vacant properties continues to fall, simultaneously making room for more REO absorption, Freddie said in its August “U.S. Economic & Housing Market Outlook” report.
“This continuing shrinkage in excess vacant stock is important because it means that in most markets the REO homes on the for-sale market are not competing with an oversized vacant housing inventory,” the government-sponsored enterprise asserted in its report. “Thus, REO homes may be more attractive to investors and first-time buyers because fewer vacant homes are available, and REO sales will have less effect on other home sales or home values.”
The rental vacancy rate alone fell to 8.6% in the latest Freddie report, its lowest point since 2002. The for-sale vacancy rate also declined to 2.1%, a six-year low. The market also is seeing fewer REOs with CoreLogic’s sales database revealing that REO sales made up only 13.5% of all May sales, their lowest share in four years.
The good news is a smaller supply of REOs can buoy home prices. That trend is already occurring with Freddie’s home price index rising 4.8% from March to June, the largest quarterly increase in 8 years. The national index also posted a year-over-year gain of 1%.
Thirty-four states and the District of Columbia saw home values rise during the 12-month period leading up to June 2012, the largest number of states with positive annual appreciation in five years.
Just a few years ago, the nation faced an “unprecedented oversupply of housing stock,” Freddie said. But with homebuilding suppressed for years and more households finally forming, a great deal of that excess inventory has already been absorbed, the GSE said.
It’s so exciting to be a part of this outstanding company and it’s success.
Linda McNeeley, our trusted mortgage loan officer with SunTrust is great at keeping us up to date on interest rates and her observations of the market. Below is her most recent list of 10 Reasons To Buy a Home Now in Atlanta. Love the positive insight!!
TEN REASONS TO BUY A HOUSE IN ATLANTA, GEORGIA RIGHT NOW!
1. The lowest rates in history! Jumbo and Conforming rates in the 3’s! Rates historically rise after Presidential elections! Time is of the essence to enjoy these low rates!
2. Buying power with low rates means more house for your money. A buyer will lose $50,000 in buying power with only a 1% increase in interest rates.
3. Sellers are continuing to listen to realtors for the 1st time in years and pricing accordingly. Again, more house for the money! Realistic prices mean fast sales and oftentimes competing contracts!
4. Foreclosures and short sales are tapering off, which might make prices rise because sellers no longer have to compete with this product!
5. Atlanta had a banner spring market with houses selling quickly and oftentimes with multiple offers. We have not seen that in the past 3 years but this year is different. The number of sales has increased almost 50% in Atlanta in our market place. It makes perfect sense for prices to increase if rates stay low and supply continues to diminish. Your buyers do not want to miss out on low prices and low rates.
6. The supply of houses has decreased (# of sales) and the number of buyers has increased (low interest rates). For the 1st time in 3 years, supply and demand is going our way. Another reason to expect prices to increase in 2013! You are telling me that your listings are selling in less than a week and with multiple offers! ENFUEGO! And, you are emailing each other begging for properties not listed. All signs of a moving market and expected price increases. This fall is the time to take advantage of the low rates and what is left of the low pricing!
7. There are still foreclosures and short sales available to buy! Not nearly as many as in times past, but still there. This shadow inventory is a disappearing part of our market! And, again, without that competition for our sellers, prices may increase.
8. Sellers want and need to sell and are motivated to accept an offer going into the holiday and winter months. Waiting costs money in carrying costs and unexpected market conditions. It makes sense that a seller will accept an offer rather than to hang on for 6 more months to see what happens!
9. The money supply is good and lenders are lending as much as they can to as many people as they can. Guidelines are tight but the money is there! Jumbo money is being held on the bank shelves but those portfolios are performing well. Lock into these rates while they are low and the money is there to lend.
10. If your buyer has a house to sell, then buying now at a low price and selling as the market improves, can put money in the pocket and makes perfect sense. The rental market is the best in history which leaves buyers with another option for not having to sell before they buy! This makes this time of year exceptionally right for the selling and buying client!
Now add to that that most appraisals now indicate that our market is STABLE or every now and again, Improving, instead of declining and there is a 3-6 month supply of houses and no longer an OVERSUPPLY and the marketing time average is now less than 6 months! This is a huge indicator that our market has turned a critical corner!!
This is a great new listing in the Tritt Elementary, Hightower Trail Middle, and Pope High School District.
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