Brian Vanderhoff's North Fulton Real Estate Blog

It is hard to believe that January 2012 is here, and we’ve put another great year of business behind us. GaHomeForeclosures is proud to announce that with the help of our network of listing agents, we sold 239 investor owned foreclosures in 2011, totaling $56M in total sales. We want to thank our loyal affiliated listing agents and quick-responding preferred lenders for helping us to have a very successful year in 2011!

For 2012, GaHomeForeclosures is bringing more homes to market for sale and we anticipate another stellar year of sales. We only pick the best listing agents in the industry and experts in the field of selling foreclosure homes to represent our new construction foreclosures. At GaHomeForeclosures, we understand that a home is more than a house and we invest in each home to get it move-in ready for our buyers. We provide a warranty on any work that we have done for a full year to make sure our buyers are protected and happy in their new residences.

We also want to congratulate our 2011 buyers on their new home purchases and the tremendous value in price that they received for their home. Our preferred lenders were able to offer our buyers the best interest rates on homes that have ever been available, and those rates are staying incredibly low so far this year – especially for first time homebuyers. Now is the perfect time to buy the home of your dreams at the lowest prices in the industry in the last five years, and with our extensive selection of homes, you are bound to find the right one for you.

Labels: Forclosures, Foreclosed, foreclosed homes, foreclosed homes for sale, foreclosed land, foreclosed properties, foreclosure, Foreclosures, foreclosures for sale, georgia foreclosures, Georgia homes

The Obama administration has not yet decided whether it should bring back a popular tax credit for first-time homebuyers, Housing and Urban Development Secretary Shaun Donovan said on Sunday.

"It's too early to say whether the tax credit will be revived," Donovan said in an interview on CNN's "State of the Union" program. He said the administration would "do everything we can" to stabilize the shaky U.S. housing market.
The analysis is based on the previous federal $8,000 homebuyer tax credit that boosted home sales reviving parts of the housing market. This credit expired several months ago, and things started going down.
The unexpectedly large drop in U.S. home sales in July has brought back fears that the nation could be on the cusp of another sharp drop in housing.
Donovan acknowledged that the data was worse than the Obama administration expected but said the government was already taking measures, including rolling out a refinancing program for some borrowers and an emergency loan program for the unemployed.
Some believe that bringing back the tax credit would help improve the current housing situation. However, those that oppose this idea, say it would blow a bigger hole in the federal deficit.
"I think it would help enormously," Florida Governor Charlie Crist, who is running as an independent for the U.S. Senate in the November elections, told CNN. "I would absolutely encourage the president to support that." His opinion was supported by U.S. Representative Kendrick Meek, a Florida Democrat, who said he also supported reviving the tax credit.
Last month, Obama signed a law giving consumers already in the process of buying a home three extra months to close the deal and still get the tax credit.
This means that homebuyers with contracts signed by April 30 who failed to go to closing by the original June 30 deadline will now have until September 30 to complete their purchases.

Labels: Georgia homes, Home, Home Buyers, home buying, homes, homestead tax relief grant program, tax credit

Following a sharp drop in the months immediately after the expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors.
The Pending Home Sales Index, a forward-looking indicator, rose 5.2% to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, but remains 19.1% below July 2009 when it was 98.1. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, cautioned that there would be a long recovery process. “Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” he said. “But the recovery looks to be a long process. Home buyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.”
Yun added, “Affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates, helped partly by the Fed’s very accommodative monetary policy. The loan underwriting standards are tighter, but home buyers can improve their chances of getting a loan by staying well within their budget.”
The PHSI in the Northeast rose 6.3% to 62.5 in July but is 21.1% below a year ago. In the Midwest the index increased 4.1% to 66.7 but remains 25.7% below July 2009. Pending home sales in the South rose 1.2% to an index of 86.3, but are 15.6% lower than a year ago. In the West the index jumped 11.6% to 95.0 but is 17.6% below July 2009.
The national index had fallen 29.9% in May and another 2.8% in June.

Labels: for sale, Forclosures, Foreclosed, foreclosed homes, foreclosed homes for sale, foreclosed land, foreclosed properties, foreclosure, Foreclosures, foreclosures for sale, Georgia homes, Home Buyers, home buying, Home Sales, home sales report, home selling, homes

With the inventory of unsold homes at continued high levels, homeowners are going to great lengths to differentiate and distinguish their home. According to experts, there are a few simple tricks that can help create a more appealing space and a more attractive listing in today’s increasingly competitive market.

Listing: What’s in a word? When putting your home on the market, the right phrase in your listing can be the key to attracting potential buyers. According to the 2008 MSN article. “What’s ‘beautiful’ worth? About $12,500” researches have found that listings with the words “beautiful” or “gorgeous” sold homes 15 percent faster, while “landscaping” bumped sales 20 percent faster and “move in condition” expedited the sale by 12 percent. Contrary to popular belief, sellers should steer clear of words that highlight desperation such as “motivated” and “must sell”. The study found the inclusion of those words in the listing slowed sales by up to 30 percent.

Branding: If you’ve got it, flaunt it. Brand names create a point of differentiation and should be used as selling points for your home. There is no doubt that buyers will putt more weight in brands they trust. If choosing to make upgrades before listing your home, consider quality, recognizable products because they will ultimately provide the best return.

Staging: The ultimate showcase showdown. When getting your home tidied up for potential buyers, there are some specific tips that will help your home appeal to a wider range of buyers.

Cleaning: The number one rule of staging is to get rid of unwanted and unused items. Whether packed away until the sale or permanently donated, de-cluttering allows buyers to see more of the home. This also includes moving furniture out of rooms that may seem overcrowded.

Labels: Alpharetta, branding, cleaning, Cumming, duluth, Georgia homes, Listings, milton, Roswell, staging your home, suwanee, what it takes to sell your home, Woodstock