Blog

New Signs that Home Prices May Be Stabilizing

Your North Metro Atlanta Realtor is Proud to Share this Important Information with YOU!!!

New Signs that Home Prices May Be Stabilizing

CNBC.com

| 21 Apr 2010 | 12:47 PM ET

A new sign that home prices may be stabilizing—fewer sellers are slashing prices while their homes are on the market.

Twenty percent of sellers slashed prices by an average 10 percent in April, and while that may sound like a lot, it’s a good deal less than the 27 percent who did so in April of 2009, all according to real estate website Trulia.com.

Granted, sellers still slashed a collective $23 billion dollars from their original expectations, but at least the numbers are headed in the right direction.

“Market stabilization is helping to define fair market value, and this helps agents and consumer price better,” says Trulia’s Ken Shuman.

The big question is what will happen when federal stimulus finally exits the housing market, as the home buyer tax credit expires April 30. Increases in foreclosures are already beginning to weigh on home prices, as distressed sales now dominate the market.

Going locally, some of the hardest hit metropolitan markets are now seeing some of the biggest decreases in seller concessions. In Las Vegas, just 13 percent of sellers on the market have slashed prices, compared to 28 percent a year ago. San Diego and San Francisco are seeing comparable trends. On the flip side, Seattle and Denver, which were late to boom and later to bust are still seeing an increase in price reductions.

The average price reduction, again 10 percent nationally, is also changing depending on the market. San Francisco sellers are lowering prices by about 8 percent compared to 13 percent a year ago. But Phoenix, with its huge rate of foreclosure, is seeing prices slashed 13 percent compared to 12 percent last year.

In addition to market stabilization in some metros, the fact also is that sellers, inundated with news of the troubled housing market, are simply more realistic than ever before. Realtors report that more of their clients realize that underpricing will generate more offers faster. Also, those sellers demanding prices of yesterday, are taking their homes off the market to wait out the recovery.

Call or Email me today for all of your Real Estate needs! Jodi Smith, East Cobb Realtor with Keller Williams Realty Consultants.  Helping you find Homes in East Cobb, Homes in Marietta, Homes in Roswell and Homes in Alpharetta.  CELL:  678-763-6025 or EMAIL: jodismith@kw.com

ROSWELL CHRISTMAS CONCERT Benefiting Children Around The World

Your Roswell Realtor is Proud to Share this Important Information with YOU!

Presbyterian Church, 755 Mimosa Blvd, Roswell GA, in their gorgeous 1,000 seat sanctuary. Concert begins at 7:30, and seating begins at 7:00. 100% of ticket proceeds benefit four different programs that focus on disadvantaged children, one in our city, one in our state, one national, and one international !!! Tickets are $10, and can be purchased in advance (770-993-6316) or at the door. The perfect music to get you in the Christmas spirit !!!

Call or Email me today for all of your Real Estate needs! Jodi Smith, East Cobb Realtor with Keller Williams Realty Consultants.  Helping you find Homes in East Cobb, Homes in Marietta, Homes in Roswell and Homes in Alpharetta.  CELL:  678-763-6025 or EMAIL: jodismith@kw.com

Improving Your FICO® Credit Score

Your East Cobb Realtor would like to share this important information with YOU!

Improving your FICO® credit score

It’s important to note that raising your FICO credit score is a bit like losing weight: It takes time and there is no quick fix. In fact, quick-fix efforts can backfire. The best advice is to manage credit responsibly over time. See how much money you can save by just following these tips and raising your credit score.

Payment History Tips

• Pay your bills on time.
  Delinquent payments and collections can have a major negative impact on your FICO score.
• If you have missed payments, get current and stay current.
  The longer you pay your bills on time, the better your credit score.
• Be aware that paying off a collection account will not remove it from your credit report.
  It will stay on your report for seven years.
• If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor.
  This won’t improve your credit score immediately, but if you can begin to manage your credit and pay on time, your score will get better over time.

Amounts Owed Tips

• Keep balances low on credit cards and other “revolving credit”.
  High outstanding debt can affect a credit score.
• Pay off debt rather than moving it around.
  The most effective way to improve your credit score in this area is by paying down your revolving credit. In fact, owing the same amount but having fewer open accounts may lower your score.
• Don’t close unused credit cards as a short-term strategy to raise your score.
• Don’t open a number of new credit cards that you don’t need, just to increase your available credit.
  This approach could backfire and actually lower your credit score.

Length of Credit History Tips

• If you have been managing credit for a short time, don’t open a lot of new accounts too rapidly.
  New accounts will lower your average account age, which will have a larger effect on your score if you don’t have a lot of other credit information. Also, rapid account buildup can look risky if you are a new credit user.

New Credit Tips

• Do your rate shopping for a given loan within a focused period of time.
  FICO scores distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur.
• Re-establish your credit history if you have had problems.
  Opening new accounts responsibly and paying them off on time will raise your credit score in the long term.
• Note that it’s OK to request and check your own credit report.
  This won’t affect your score, as long as you order your credit report directly from the credit reporting agency or through an organization authorized to provide credit reports to consumers.

Types of Credit Use Tips

• Apply for and open new credit accounts only as needed.
  Don’t open accounts just to have a better credit mix – it probably won’t raise your credit score.
• Have credit cards – but manage them responsibly.
  In general, having credit cards and installment loans (and paying timely payments) will raise your credit score. Someone with no credit cards, for example, tends to be higher risk than someone who has managed credit cards responsibly.
• Note that closing an account doesn’t make it go away.
  A closed account will still show up on your credit report, and may be considered by the score.

Provided by Bank of America Senior Home Loan Consultants:

Kathy Vitali and Bragg Boyd

Call or Email me today for all of your Real Estate needs! Jodi Smith, East Cobb Realtor with Keller Williams Realty Consultants.  Helping you find Homes in East Cobb, Homes in Marietta, Homes in Roswell and Homes in Alpharetta.  CELL:  678-763-6025 or EMAIL: jodismith@kw.com

Georgia High School Writing Test Scores Show COBB STUDENTS TOP State

Your East Cobb Realtor would like to share this important information with YOU!

Ninety-four percent of Cobb County 11th graders met or exceeded standards on the 2009 Georgia High School Writing Test. Cobb students’ average scale score of 224 remains higher than average scale scores for metropolitan Atlanta and Georgia. The scale used to measure achievement ranges from 100 to 350, with a score of 200 as “meets expectations,” and 250 as “exceeds expectations.” Administered in September to 7,496 students, the writing test requires students to write a persuasive paper on an assigned topic in a limited time window. The assessment is the part of the Georgia High School Graduation Test, a requirement for all students pursuing a high school diploma.

Cobb’s population of Students with Disabilities (SWD) and English Language Learners (ELL) also performed well on the writing test. The percentage of Cobb’s Students with Disabilities meeting or exceeding expectations was 75 percent, compared to just 62 percent of their peers statewide (see Table III). Sixty-nine percent of ELL students tested in the district met or exceeded expectations, compared to sixty-six percent across the state.

Individual schools across the district fared well on the writing test. At 13 of the district’s 17 high schools, 90 percent or more of the students met or exceeded expectations. Seven schools – Allatoona, Harrison, Hillgrove, Kell, Lassiter, Pope and Walton - led all others with 95 percent or more of students scoring at or above expectations, with Lassiter and Pope students topping the district at 98 percent meeting or exceeding expectations.

The Georgia Performance Standards (GPS) domains, or broad themes, covered by the writing test include Ideas, Organization, Style, and Convention. The Ideas domain measures the degree to which the writer establishes a controlling idea and elaborates the main points with examples, illustrations, facts or details. In the Organization domain, students are assessed on their ability to arrange ideas in a clear order consistent with the persuasive genre. Style points are awarded based on the writer’s ability to control language and engage the reader. The Conventions domain measures the degree to which the writer demonstrates control of sentence formation, usage, and mechanics. Test scores are ranked on a scale of 1 to 5, where 1 is the lowest and 5 is the highest. In each domain, Cobb 11th graders scored higher than their peers across the state. Three of the high schools across the district had domain scores that were consistently higher than averages for both the district, metro area and state.

Superintendent Fred Sanderson said, “Writing is an essential skill for high school and beyond. We are pleased that these scores reflect the competitive ability of our students, especially for our special populations.”

In March 2010, Cobb 11th graders will be assessed on the language arts, mathematics, social studies, and science portions of the Georgia High School Graduation Test (GHSGT).

For more information, click here.

Call or Email me today for all of your Real Estate needs! Jodi Smith, East Cobb Realtor with Keller Williams Realty Consultants.  Helping you find Homes in East Cobb, Homes in Marietta, Homes in Roswell and Homes in Alpharetta.  CELL:  678-763-6025 or EMAIL: jodismith@kw.com

It’s a Great Time To Buy!

Motivated sellers, builders offering deep discounts and incentives, historically low mortgage rates, plenty of inventory and fierce competition for qualified borrowers –it’s actually a great time to be buying a house. If your credit score is good, you’re in an even better position to negotiate the loan on the home of your dreams this spring.

Spring has always been a popular time to buy a new home. More people put their homes on the market when the weather is warm, and a wealth of inventory is available. With winter thawing into distant memory, home shoppers are ready for a fresh start in a new house. Buying a home in spring will help new homeowners ensure they move their families during the summer, and not at the beginning or in the middle of the school year.
With plenty of housing opportunities and low interest rates currently available, it pays to ensure you’re in a position of power when you go home shopping this spring. Here are some simple tips for ensuring you’re in the driver’s seat when buying a house:

Know Your Credit Score

You may not be able to control the economy, but your credit score is a financial reality you do have control over. The higher your score, the more likely you are to be able to negotiate lower interest rates when mortgage hunting.

Before you look at a single house, find out what your credit score is. Sites like FreeCreditReport.com give you access to your free credit report — which will show potential lenders your payment history and help them decide if you’re a good or even great credit risk. Through the Web site, you can also get your credit score from Experian, one of the three top credit bureaus lenders turn to when evaluating the credit-worthiness of potential borrowers.

The better your score, the better your chances of scoring a great loan, so take steps to improve your score, such as paying off credit cards quickly, paying bills on time and minimizing your use of revolving credit. Errors can occur and if you find some on your credit report, work directly with the credit bureaus to have them corrected.

Know the Playing Field

Once you’re confident you have a powerful credit score, research the market where you’re interested in buying. In addition to considering the quality of schools, proximity to work, entertainment and amenities a neighborhood has to offer; consider the number of foreclosures in an area and how much home values have dipped in the past year.

Is the neighborhood you’re interested in poised to regain value quickly when the real estate market rebounds? Recovery speed could be an important consideration if you plan to stay in the home only a few years. If you’re in the home for the long haul, you may be less concerned about how quickly home values in the neighborhood will improve.

This spring can be a great time to start fresh in a new home. To ensure you’re well-positioned to take advantage of the great housing deals, visit www.FreeCreditReport.com first to learn about your free credit report.

Contact me today at 678-763-6025 or fill out the form below and I will get back to you!

Contact Me

1. Your Name(required)
2. Email(valid email required)
3. Best Time to Reach You Anytime Morning 9:00am till 12:00pm Afternoon 12:00pm till 6:00pm Evening 6:00pm till 9:00 pm Other (required)
4. Message(required)
5. Spam Protection

 

cforms contact form by delicious:days