Great Opportunities Disguised as Impossible Situations
“We are all faced with a series of great opportunities brilliantly disguised as impossible situations.”
– Charles R. Swindoll
A lot of negative coverage has been devoted to today’s housing market. However, there are many reasons why the current real estate market may be beneficial to you.
For example, the large selection of homes and low sales prices make it a great buyer’s market.
In addition, interest rates on home loans are historically low, making now a great time to lock in a long-term mortgage rate.
Ultimately, though, these favorable conditions will go away. As inflation rises, so do interest rates. I have included this Item of Value so you can take advantage of current market conditions.
If you are looking to become a homeowner, you need to strike while the iron is hot! You know me. I am not one to be pushy and I know this sounds pushy but the current market situation cannot last. The Feds have said they will STOP buying mortgage backed securities soon which WILL allow mortgage rates to increase. Inventory IS falling and while there are some new foreclosures coming out they are getting fewer and the condition is such that many of them cannot get FHA financing so they sit. Very little new inventory is being build and some areas are seeing a shortage of good houses to buy.
If you are looking to sell that can be good news for you if you are in some of those shortage areas. Housing prices have fallen but they are on the way back up. I can show you data that says the bottom was about 6 months ago and we are coming up. With all the incentives the government is handing out and the changing market, this is also the best time to sell. After April I believe activity will drop when the 1st time buyer and repeat buyer tax credit expire. The Fannie Mae deal in the previous post will also end about that time and while we will hopefully see a healthier market by then I think a lot of the real deals will be done and it will be a balanced market with higher interest rates.
Please don’t miss this opportunity. It is perhaps the best we have seen EVER and it won’t last. Call me if you have any questions or if you know someone I can help with THEIR great opportunity. I am never too busy for your referrals!!
Thanks for listening,
Jerry Robertson
678-231-1578 Cell
Fannie Mae Announces 3.5 Percent Seller Assistance on HomePath® Properties
Incentive Part of Ongoing Effort to Stabilize Neighborhoods
WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today that people purchasing a Fannie Mae-owned HomePath® property will receive up to 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of appliances. The offer is available to any owner-occupant who closes on the purchase of a property listed on HomePath.com before May 1, 2010.
“Attracting qualified buyers to the market and reducing the inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover. Many families are taking advantage of the federal homebuyer tax credit to buy a new home so this is a great time for Fannie Mae to offer some additional help,” said Terry Edwards, Executive Vice President of Credit Portfolio Management. “Homebuyers have the option to choose between financial assistance toward closing costs or new appliances for their home.”
Properties eligible for this incentive are listed on HomePath.com and most listings include detailed property descriptions, photographs, community and school information and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing which offers homebuyers an opportunity to purchase with as little as 3 percent down.
If you are interested in more info please call me at 678-343-6879 and I can help you get started finding that perfect house.
Thanks for listening,
Jerry Robertson
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Echo Boomers
Here is a little more info about the Echo Boomers that are coming. There are more Echo Boomers than there were Baby Boomers so we are a growing demographic and that affects what we do in real estate. All those buyers are just now entering the housing market so the demand is going to be increasing and if you are looking to be in on the ground floor for this market it is now that you need to start.
Look at the eReport that I have included here and you’ll get a better picture of what’s coming. There will be a growing demand for starter homes, rentals and senior housing. Typically we have not had a huge demand for ranches and the single level home in our area but I believe that will be changing. Heck, I am going to be looking for a stepless ranch soon. I am tired of the stairs and I am almost an empty nest. 
As always, call me if you have questions or know of someone looking to buy or sell. I am taking listings right now and I am NEVER too busy for your referrals.
Thanks for listening,
Jerry Robertson
678-231-1578 Cell
Technology Tips for January 15, 2010
So, now we have WikiMapia: As its name suggests, it has turned online maps into a wiki. That means anyone can edit the maps. If you notice an error, you can fix it. You can also add new streets or attractions. WikiMapia’s maps are also interactive. There are also the satellite images we’ve come to expect. http://wikimapia.org
Visit The Websites, Skip The Browser: There are a handful of sites that you visit every day. You check the news, your e-mail and maybe a few blogs. Perhaps you refer to an online calendar. Placing useful websites on your desktop takes up a lot of space. Actually, you only need portions of those sites. It would be handy if you could cut out those portions. Snippage does just that. It’s actually a small Adobe Air browser. Use it to navigate to the site you want. Then drag and resize the Snippage box over what you want. Push the Shrink button and position it on your desktop. Free http://snippage.gabocorp.com/
Assess Your Energy Usage: Also find ways to improve it and save money. The Department of Energy has tools to help you out. Start by doing an energy audit. See how much energy you’re using-and wasting. Then, check the tips to learn how to improve your home’s efficiency. This is also a great site to visit if you plan landscaping or remodeling. http://www.energysavers.gov/your_home/
Thanks for listening,
Jerry Robertson
678-231-1578 Cell
Technology tips courtesy of Rick DeLuca at the Real Estate Idea Club – thanks Rick!!
Luck is what happens when preparation meets opportunity
“Luck is what happens when preparation meets opportunity.” – Seneca
The housing market won’t be down forever. The time to buy is before the housing boom hits, and I believe that boom is coming soon! In recent months, we’ve already seen signs the market is cycling up again (increased home sales are one example). There are several other factors that all point to a looming housing boom, such as population demographics and new home construction statistics.
For the first Item of Value for the year (2010 January CAP), I’ve examined several factors that indicate the market is turning around again. You will find data and analysis that point to the same conclusion: the next housing boom is just around the corner.
Don’t be left in the dust when the next housing upswing occurs. I want you to be prepared!
PS. One side note, on the Item of Value is a coupon from one of my favorite vendors. Mark Hinshaw of Get ‘er Done Handyman service is offering a $25 off discount on your next job. Call Mark at (678) 758-0651 and tell him I sent you. This offer is good through the end of February 2010.
Thanks for listening,
Jerry Robertson
678-231-1578
Last thing, please remember to call me when someone mentions real estate. Let me have their name and phone number and I’ll do the rest. Your referrals allow me the time to focus on my clients when they need me the most instead of having to look for my next client with cold calls or door knocking.
I want to do the most I can for those that need help. Check out CarrierOfHope.com too if you know someone that is in need of advice when facing foreclosure. There are options for them but they have to ask.
Search Vintage Ads
I got a great site from Seth Godin where you can search vintage ads. Here is one that I found when I looked for a Lincoln Zephyr. See what you can find!!
Jerry Robertson
Reduce Stress…. Live Longer
Just read a cool article about stress. Check this out.
Thanks for listening,
Jerry Robertson
2009 Real Estate Market Update … as the year closes
Some of this article comes from Keller Williams Research and the data comes from the National Association of Realtors, Freddie Mac, The Wall Street Journal, The Washington Post and KW Research. Take a look and let me know if you have questions or want to talk about what you see.
Small steps to economic recovery continued last month. Among the positive readings was the report of a third quarter GDP growth rate of 2.8 percent, which followed four consecutive quarterly declines. This advance comes in well ahead of that of our Canadian neighbors, whose economy was once anticipated to be the first country out of recession, and by significant margin. Canada posted marginal 0.4 percent growth. Unemployment fell in November for the first time since April 2008. A strong rebound in home sales activity from year ago levels also points to a firmer stabilization.
With the extension of the $8,000 federal housing tax credit into spring 2010, first-time buyers will now have an additional few months to purchase their dream homes. Expansion of the income restrictions now gives possibilities for higher earners to participate too. And the $6,500 tax credit now available to established homeowners with five consecutive years or more in their homes broadens the opportunity landscape. This in turn will allow the housing market more time to find a more solid footing on a sustainable recovery.
This chart shows how inventory is falling consistent with the increase in sales. We are getting closer to a balanced market (6 months of inventory) and that will help with that solid footing. Foreclosures are increasing but new construction is almost non-existent so overall desirable inventory is falling.
Although economists continue to debate the overall shape of the recovery, it is widely agreed that the U.S. economy will take a long time to rebound. Unemployment is expected to remain high for several quarters and the number of underemployed is expected by some economists to remain a drag on growth prospects. On the brighter side, according to some economists, a slow and steady growth will likely fair better for the long-term well-being of the economy. Slower, sustained growth can help prevent dangerous asset bubbles, like the recent housing and technology bubbles, from growing and bursting.
The median home price is holding fairly stable. This combined with lower interest rates are making homes affordable for more people. We are currently holding at about 15% affordability which is the lowest on record since 1970.
Now armed with all this data what do you do?
If you are a seller who wants to move I would suggest a couple of things. First, get your house on the market today (no later than the first week of January) if you want to capture all the buyers that will be hitting the market after the holidays. We have had a fairly hot market but it has stalled for the holiday season. That will come to an end almost immediately. Second, have your house in top condition and priced to the market. Buyers are still looking for a deal and will bypass a house that is over priced. The driving force in this market will continue to be appraisal values so pay attention closely to the current market data.
If you are a buyer ready to make that purchase then get busy looking right now. Use this search engine for the most current data. Inventory is falling and desirable homes move fast if they are priced right. The extended tax credit for 1st time buyers will keep the activity up for some time to come but you have to be a qualified buyer. Call your lender (or me if you don’t have a lender) and get that pre-approval letter in hand. Not just a pre-qualification letter but a pre-approval and if your credit score or income to debt ratio is marginal you need to move NOW. Fannie Mae guidelines will be changing to require a higher credit score (580 to 620) and FHA will be looking for more down payment (3.5% to 5%) soon so you could be left behind if you don’t get moving. FHA is making more changes to manage risk by increasing the down payment, higher mortgage insurance premiums and lower seller concessions but there is no time table on that yet.
If you are selling and buying then the strategy is to price your house at the market value and be willing to give on the sale so that you are positioned to make it up on the purchase. Most sellers that have been in their house for a while will qualify for the new tax credit of $6500 in the move but it expires in April 2010. Not much time to get this done. Check with you tax professional to be sure you qualify but don’t wait too long.
PS. If this all sounds overwhelming then take a deep breath, get a cup of coffee and call me. My goal is not to scare you or give you a feeling of panic but to let you know what is happening as best I can. If you made it this far in the article then you are obviously interested in finding out what is happening and I can’t include everything here. I am ready to help and because I work by referral I have the time to help you when you need me.
If you know someone who is even thinking about buying (or selling) please call me with their name and number. I am NEVER too busy for your referrals and we will take great care of them.
One last thing, I am starting a new effort to reach people in trouble with their homes. 57% of all home owners that go into foreclosure never contact the lender because they are ashamed or scared. Check out www.CarrierOfHome.com for more info of how we can help.
Thanks for listening,
Jerry Robertson
678-231-1578
Don’t get ripped off-Gift cards are not always the best choice
I hope you all are getting your Christmas stuff done. It is 4 days away and I found this info on gift cards that might be helpful. It seems they don’t always work out well. Click here for the report.
If I can help with anything please call me. Business or beyond, I am here to help.
Thanks for listening,
Jerry Robertson
678-231-1578 Cell
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