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Tal and Jeanette Kramer
Atlanta Communities and
Avalon Property Management Services
"We help families make Smart real estate decisions"
December 2011 Real Estate Report
Happy Holidays!!
Thank you to one and all for making 2011 a succesful year.
Your referrals have meant a great deal to us and
We are so appreciative that you select us to serve your family, friends, neighbors and co-workers.
Our best wishes to you for a joyous season and a very Happy New Year!
Are you on Facebook? If so, join our Facebook Business Page with timely updates about all aspects of Real Estate. View our Facebook page by clicking here
 or visit www.facebook.com/MyDreamHome.Atlanta. If you like what you see... LIKE our page. You can also become our personal Friend on Facebook at facebook.com/tkramer.realtor.Consumers Are Choosing Different Loan Products! A recent Freddie Mac report showed some interesting data pertaining to borrowers that refinanced their loans in the third quarter: The report said:
Should you Refinance? Low Interest Rates are Not the only factor in deciding whether to Refinance. Consider these factors too:
Interest Rates are only one part of the decision. It's easy to use the answers above to help you make smarter decisions. Let's look at one scenario to illustrate the point: Cost to Refinance vs. Intended Length of Stay: Take the total Cost to Refinance (closing costs, appraisal fee, application fee, etc.) and divide that by the amount you expect to save monthly to see how many months it will take before you will break even. For example, say the total costs are $4,000 and the expected savings is $100 per month. $4,000 divided by $100 equals 40 so it will take 40 months (a little over three years) to break even. If you plan to move in two to three years, this scenario would not makes sense, would it? There are many alternatives to consider that could dramatically change these numbers:
Another factor to evaluate is "How many years are left on your current mortgage?". Remember a refinance adds years to the current mortgage. If you have 10-years left, do you really want to refinance to a new 30-year mortgage and add another 20-years of payments? Again, this question has to be considered along with the number of years you expect to remain in this property.
2011 is almost upon us and that means it's Property Tax time once again. Each year we receive many calls asking how to appeal Property Taxes. The AJC is currently running a series about Property Taxes and it included information about the appeals process. Rather than re-write it... Here's the link to the information provided by the AJC:
Where Will Prices Go? Last month we wrote the continued influx of foreclosures would prevent any sizeable appreciation in the immediate future. There is not likely to be any real appreciation in the next 18 to 24-months and probably longer than that. The KCM Blog, one of our real estate news sources, recently had a great illustration on this:
Simply put, until the significant number of foreclosures / short sales are absorbed into the market, distress property sales will continue to hold down prices. Not to be political here, but some politicians have said we have to let the market find the bottom before it can recover. As hard as that is for those affected, it's unfortunately a true statement. Temporary fixes and band aids only prolong the housing crisis by spreading out the time it will take to return to "normal" foreclosure levels.
Prices to Remain Flat for At Least 5-Years!! This according to Rajeev Dhawan, director of Georgia State University's Economic Forecasting Center as reported by the AJC on November 17, where it said; "Home prices in Atlanta will not regain their lost ground for at least five years more as foreclosures and weak demand continue to burden the market". While we've forecasted limited appreciation over the next 18 to 24-months, this is the first time we've seen a 5-Year forecast for our area.
So, if correct... What does that really mean? It means that the current market is the new "norm" and will be with us for years. It means that owners need to think about their personal plans and objectives from new perspectives. For empty nesters, retirees, etc. it no longer makes sense to "wait a little longer" till the market improves because "a little longer" may be another 5-years and that's a long time. At the risk of repeating ourself (many times), the complete picture is not just what you sell your home for, it's what the overall picture becomes when you look at both the sale and the subsequent purchase. Waiting, will not only delay your plans but will result in the total transaction costing more, way more!
We need your help! As many of you know, Jeanette's a regular at Jazzercise (over 150 classes already this year!) Each year Jazzercise hosts a "Jazzerthon For The Cure", which will take place this February in Buckhead. If you would like to contribute to a great cause, please do so online by visiting Jeanette's page at the Susan G. Komen website:
and click "Support Jeanette" near the top. The rest is self explanatory.
If you prefer, you can mail checks to Jeanette Kramer made payable to "Susan G Komen for the Cure" at 3003 Manning Drive, Marietta GA 30062-4818.
Thank you in advance for supporting this worthwhile cause!
The statistics below are for Metro-Atlanta separated for Single Family Homes and Condo / Townhomes. Given the current economy, the data is further broken down by Distress (e.g. Foreclosures, Short Sales, etc.) and Non-Distress sales.
Single Family Homes
(Last 3 Months vs Same Months in Prior Year)
Condos / Townhomes
(Last 3 Months vs Same Months in Prior Year)
Remember... "Averages" are simply high level overviews blending the best and the worst to obtain a 'snapshot' view of the market. The figures above are for all of Metro-Atlanta and is NOT likely to be reflective of prices and trends where you live. Before making any real estate decisions, its important to obtain data pertinent to the specific area(s) where you are selling and / or buying.
Our property management company, 'Avalon Property Management Services, LLC' provides all aspects of Property Management:
Avalon Property Management Services can handle all aspects of managing your rental properties freeing you to focus on other ventures or simply to enjoy that game of golf without worrying about tenant issues. Our fees are competitive and will actually increase your long term profits. We've been managing local properties since 1997, own multiple rental properties personally and we are ready to serve your property management needs. Call Today with any questions :-)
Interest Rates are a bit higher than earlier this year but still quite attractive. Financing is still available at low interest rates! We have great Lenders to recommend for your new purchase or to refinance. Call us and we'll put you in touch with them to see who has the best programs based on your qualifications and requirements. Note! Interest Rates are heavily influenced by your Credit Score as stated above. The rates published below assume a Credit Score of 720 or higher.
Many thanks to our Customers, Clients, Family and Friends for referring us to the folks you know when they need Professional real estate assistance. This month special thanks go to:
Is This Information Valuable? Please let us know your thoughts. Our goal is to provide up to date information and market advice to help you become as knowledgeable as possible in your real estate decisions. Have a question you need an answer to or a topic you would like us to address... Just let us know :o)
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