There are currently 13 blog entries related to this category.
Tuesday, August 14th, 2012 at 11:56am. 856 Views, 0 Comments.
A question that comes up with almost every buyer I represent is, "Should I ask the seller to pay my closing costs?" The short answer is, "Maybe," but there are several factors you want to consider before making this decision.
The first question to ask yourself is, "Do I have enough cash to pay my own closing costs and down payment and still have enough in savings for my emergency fund?" If the answer is, "Yes," then it's a good idea to pay your own closing costs.
If you don't have enough cash for all three of these items...closing costs, down payment and savings, then it is usually a good idea to ask the seller to pay a portion, or even all, of your closing costs.
As a side note, closing costs vary but average about 3% of your purchase price,…
Friday, May 25th, 2012 at 11:09am. 669 Views, 0 Comments.
Built in the 1920s, Peachtree Commons in Peachtree Hills is noted on the National Register of Historic Places. Although Atlanta is inundated with them, a contemporary hi-rise is not a lifestyle that appeals to all buyers seeking convenient, low maintenance condominium living.
A 3-story building with units boasting architecturally desirable accents reminiscent of the past like arched doorways, glass door knobs, an original tin ceiling, crown moulding and real hardwood floors, combined with recent modern renovations like stainless steel appliances, granite countertops, and tile backsplash, this first floor 2 bedroom condo offers a perfect combination of character and convenience!
This is a real gem for downsizers and city dwellers…
Wednesday, May 9th, 2012 at 4:42pm. 639 Views, 0 Comments.
A phrase becoming more common in real estate these days is "Please submit your highest and best offer." Believe it or not, this isn't just because sellers want more money for their homes. Buyers are actually competing to buy certain homes and properties are often selling for higher than list price.
Just in the past few weeks I have had this happen at least six times and it's included condos, town homes and single family homes from Buckhead to Vinings to Marietta. We have won a few bidding wars and lost a few as well. Surprisingly, we have even lost when offering all CASH and more than list price.
These bidding wars aren't just isolated to foreclosures. Some traditional sellers are encountering this as well and even selling for tens of thousands more…
Tuesday, March 27th, 2012 at 12:45pm. 1026 Views, 3 Comments.
Finally, a mortgage refinance program is available for home owners who are current on their mortgage but owe more than their house is worth. And the best part is NO APPRAISAL IS REQUIRED!!!
HARP 2.0 (Home Affordable Refinance Program) allows home owners with a mortgage owned by Fannie Mae or Freddie Mac to refinance underwater mortgages. Here are a few of the highlights:
- No LTV (Loan to Value) cap on fixed rate mortgages
- No appraisal required if an automated value can be determined
- Payback time period has been reduced
- The program is available now
Even if you pay your mortgage to a bank or specific lender, it is likely still owned by Fannie or Freddie. Here are a few links to determine who owns your mortgage and also answers…
Wednesday, December 14th, 2011 at 2:44pm. 737 Views, 0 Comments.
Ben and I were discussing our 2011 numbers this morning and were quite encouraged at Hirsh Real Estate Specialists' performance this year!
Over $30 Million in Sales
It has been another banner year for Hirsh Real Estate Specialists! Our agents have worked tirelessly throughout 2011 to sell more than $30 million in real estate and our clients have reaped the benefits. The road has certainly had its share of hurdles, but one step at a time we are emerging as one of Atlanta's most successful real estate brokerages. If you or those you know are in need of professional real estate services, we would love to talk with you about your needs.
Mortgage Rate Lows
A high point for home owners, mortgage rates have remained unexpectedly low throughout 2011…
Monday, November 14th, 2011 at 5:29pm. 572 Views, 0 Comments.
As we approach the end of 2011, it is still a strong buyer’s market across Atlanta. Mortgage rates have dropped again since the summer and while prices are struggling to recover, certain properties seem to attract all the attention. We are always looking to grow our business, so if you or those you know are in need of professional real estate advice please feel free to give me a call.
So what’s the latest with home prices?
Home prices are actually up nearly 7% in the North Atlanta area around Buckhead and the number of homes sold is up more than 10%, which is good news. Smyrna and Vinings prices are still down more than 10% for the year, but there are a number of great homes pending sale right now, so I do expect the average price and volume…
Wednesday, August 24th, 2011 at 4:17pm. 531 Views, 0 Comments.
Amid the volatile stock market, economic gridlock in Washington and stagnant home sales, mortgage rates have continued to fall and save buyers thousands of dollars in interest.
Below is a chart showing how mortgage rates in 2011 have continued to drop for 30-year and 15-year fixed mortgages. Data is courtesy of www.FreddieMac.com
So, how does this translate into real numbers for your budget? Consider this, an average home buyer who purchases a $250,000 home today will save nearly $50,000 in interest payments on a 30 year mortgage versus a buyer who bought the same house in February for the same price.
Mortgage rates in February were about 5.05% and mortgage rates today are about 4.15%. A buyer who makes a 3.5% down payment will save…
Wednesday, March 30th, 2011 at 4:18pm. 1205 Views, 0 Comments.
A front page article in this morning's USA Today Money Section showed Atlanta home prices have dipped below where they were in the year 2000 and have actually dropped an additional 7% from January 2010.
Nationally the real estate market hit bottom in April 2009, which is near where Atlanta also hit its low. Standard & Poors uses a 20-city composite index to measure the national market and currently the average price of a home is only up about 1.1% from record breaking prices in 2009. If we drop below those 2009 numbers, then we officially have a double dip recession in real estate.
So what does this mean for you? If you are considering a purchase, then now is the time to buy a home in Atlanta! If you are looking to sell, then get ready to…
Tuesday, March 1st, 2011 at 4:58pm. 950 Views, 0 Comments.
After hearing that nearly 1 in 3 Atlanta homes is in foreclosure, which by the way is not correct, a concerned buyer asked me last week about the health of the Atlanta market in higher end neighborhoods. The following conversation and statistics we found showed some very encouraging numbers for neighborhoods with average sales above 500K.
In particular, this buyer was interested in the percentage of distressed sales in some of Atlanta's most popular neighborhoods like Vinings. The chart below shows these numbers and how they compare to the Atlanta market as a whole.
At the peak of the foreclosure crisis in 2009, approximately 33% of all Atlanta home sales were distressed. However, neighborhoods like Ansley Park and Chastain Park never had more…
Friday, November 12th, 2010 at 8:41am. 530 Views, 0 Comments.
Anyone who knows anything about real estate will tell you that Summer is the busiest time of year to buy and sell homes. But did you know that December is statistically the best month to buy a home in Atlanta?
I have to admit I was a little surprised when I looked at the numbers across Atlanta for the past 3 years. Prices in December are an average of 28% percent less than the price peak in June.
You might be thinking, "Well that's just because there's less to choose from." Believe it or not the average number of homes sold in December is only 3% less than the June peak as well.
Volume is at an all time high in December and prices are at an all time low. If you're considering buying a home this year, now is the time to do it while prices…