Archive for February, 2012

How to decorate your place on the cheap

Wednesday, February 29th, 2012

      One of our favorite blogs is Lifehacker.   It has great tips on all kinds of do-it-yourself projects (particularly tech stuff) and ways to do things on the cheap.  This week they have an excellent article about decorating your home inexpensively.  It has some excellent ideas such as how painting an accent wall or adding […]

Donald Trump thinks it's a good time to buy a house, too

Tuesday, February 28th, 2012

     Yesterday we told you about how Warren Buffett said he would buy millions of homes if he could on an interview on CNBC.  That was one more positive sign about our housing market.  Well today Donald Trump said the same thing.  On another CNBC interview Trump today said, “Housing is one of the great […]

Warren Buffett thinks it's a great time to buy a home

Monday, February 27th, 2012

   In an interview today and in his letter to shareholders this week Warren Buffet again said he is bullish on real estate and said he’d ‘buy millions’ of single family homes if there were a practical way to manage them.  Buffett, in his closely watched annual letter said he was ‘dead wrong’  about a […]

January Existing Home Sales Increase, Supply Decreases

Thursday, February 23rd, 2012

    Existing home sales rose to their highest level in about 2 years in January according to the National Association of Realtors.  Over 4 million homes were sold, the most since May of 2010.  At the same time, inventory available for sale continues to drop, now to a level of 2.3 million homes. We’re now […]

Banks sometimes offering cash incentives for short sales now.

Wednesday, February 22nd, 2012

We’ve been watching the trend.  Some banks (not all) are seeing the value in doing a short sale rather than letting a home go into foreclosure.  When a homeowner sees he’s facing foreclosure he stops maintenance on the house or abandons it altogether.  Once a home is vacant bad things can happen.   Now some banks […]

Worried about the new 3.8% Obamacare real estate transfer tax ? Don't be.

Tuesday, February 21st, 2012

In the final days of negotiating the new health care law a tax was passed to help pay for it.  It’s a 3.8% tax on certain profits made on selling real estate beginning this year.  It’s been described as a transfer tax on any gains but that’s not the case.  This tax will only affect […]

National Real Estate Report February 2012

Sunday, February 19th, 2012

2012 is off to a promising start. Mortgage rates continue to drop and have remained under 4% for nearly two months. Home sales are strengthening and pending home sales, a measure to gauge future sales, are at their highest levels since March 2010. Job growth has been increasing for most of 2011, with unemployment dropping […]

Looser lending standards more good news for Atlanta real estate

Friday, February 17th, 2012

        Banks and mortgage companies are loosening their lending standards as they work through their foreclosures and as default rates fall on new mortgages.  This means the housing crisis will end in 2012 according to this article from DSNews and Capital Economics.  Well, I wouldn’t go that far.  Getting a loan has gotten easier.  Banks […]

Home Sales December 2011

Friday, February 17th, 2012

Existing home sales continued their rise, up 5% in December, to a seasonally adjusted rate of 4.61 million. Lawrence Yun, chief economist for NAR, said, “The pattern of home sales in recent months demonstrates a market in recovery. Record-low mortgage interest rates, job growth, and bargain home prices are giving more consumers the confidence they […]

Home Prices down in December vs 2011

Thursday, February 16th, 2012

Homes prices for December were down 2.6% from a year ago, at a median price of $164,500. One factor contributing to lower prices has been the high level of distressed properties being sold. In December, these properties began to show signs of price stabilization and increase. Foreclosures were selling at 22%, a 2% increase from […]