11 Reasons to List durning the Holidays

11 Reasons to List During the Holidays

1. People who look for a home during the Holidays are more serious buyers!

2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you!

3. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home! Less demand means less money for you!

4. Houses show better when decorated for the Holidays!

5. Buyers are more emotional during the Holidays, so they are more likely to pay your price!

6. Buyers have more time to look for a home during the Holidays than they do during a working week!

7. Some people must buy before the end of the year for tax reasons!

8. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market!

9. You can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays!

10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year!

11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low!

Americans can’t afford to buy a house.

Credit Score Requirements Stifling Borrowers

Despite record-low interest rates, an increasing number of Americans can’t afford to buy a house.
The nation’s two largest mortgage lenders, Wells Fargo & Co. and Bank of America Corp., have raised the minimum required credit score on FHA-insured loans to 640 from 620. Requiring a 640 credit score excludes about 15 percent of FHA borrowers, FHA commissioner David Stevens said.
Such a high limit will further delay a recovery in the real estate market, says Ron Phipps, president of the National Association of REALTORS®.
This issue arose at the annual conference of the NATIONAL ASSOCIATION OF REALTORS® last week. FHA Commissioner David Stevens challenged banks to return to underwriting basics rather than continue to rely on automated models that kick out applicants based solely on numerical scores. Read the write-up on Stevens' remarks.

Source: Bloomberg, Jody Shenn and John Gittelsohn (11/17/2010)

Mortgage Rates Continue Record Slide

Mortgage Rates Continue Record Slide

Freddie Mac reports that rates on fixed mortgages again fell to their lowest levels in decades this past week, with the average interest on 15-year loans dipping to 3.57 percent from 3.63 percent a week earlier, and the average interest for 30-year loans sliding to 4.17 percent from 4.24 percent. That is the lowest since 1971.

The impact of the favorable borrowing costs is being muted somewhat, however, by a high rate of joblessness, foreclosures, and tight credit.

Source: Boston Globe (11/12/10)


If you can qualify for a loan, now is the time to buy!  Act fast!

Dekalb County Foreclosure Update

Dekalb County GA is going through some interesting changes that people at risk or foreclosure should be aware of....


DeKalb County, which has more than 14,000 foreclosed properties, is cracking down on absentee owners of such property.


The county launched its foreclosure registry this week as a way to hold property owners more accountable. The registry, which will require a $175 fee, will be online and include owners’ contact information.

Creditors or mortgagees that foreclose on a property have up to 30 days following the foreclosure sale to register the property with the county and become in compliance with all code enforcement rules. Anyone who does not register is subject to a $1,000 fine per day.

Registration forms are available at www.dekalbcountyga.
 gov/foreclosureregistry .