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

Just Sold in Beautiful Roswell Georgia

In Lake Forest Subdivision

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Here’s what they said:

Jodi was such a helpful Realtor during the entire moving process! She helped to make our first home purchase easy and stress-free. We liked how willing she was to talk with us when we had questions, and we felt like she really listened to what we were looking for in our first home. She helped to prepare us for all of the steps towards buying a home with professionalism and ease. Jodi’s knowledge of realty and the markets was very impressive.

Let me help you achieve YOUR dreams too!!!

Another Happy Couple just purchased a home in Westchester Subdivision in sought after East Cobb.

Here is what they said:

We had the good luck to find Jodi as our agent all the way from Texas.  My husband was being transferred to Atlanta and we really did not know much about the area.  We told Jodi what we were looking for in a house and Jodi went one step further to show us houses in neighborhoods and school districts we would find desirable.  We started off with the MLS searches from Texas and Jodi helped to preview homes and neighborhoods for us that we thought we might be interested in.  In the end, she helped us find a home in a good subdivision and excellent school district.  Jodi worked hard to protect us in our purchase negotiations and represent us while we were in another state.  I don’t know that other agents would have worked as hard as she did for us.  I would not hesitate to use Jodi again or recommend her to anyone for the purchase of a home.

The next one could be YOU!!!

The Cobb County Board of Education approved a balanced calendar for the 2010-2011, 2011-2012 and 2012-2013 school years during its Nov. 11, 2009 meeting. Each school year will begin the first week of August and end the Friday prior to Memorial Day in May. The 180-day balanced calendar includes one-week mid-term breaks for students and teachers in September and February and a full week of Thanksgiving holidays. The first semester of each school year will conclude before the winter holidays in December.

In September 2009, the Board requested that Superintendent Fred Sanderson develop different calendar options for the Board to review. Four options were presented during the October 14 work session with varying start dates and breaks. These options were posted for review on the District Web site and all school Web sites, along with contact information for the seven Board members. The District used its automated calling system to notify 63,000 student households of the calendar options, and also included calendar information in its regular Board of Education e-mail newsletter, which reaches more than 24,000 community members. More than 8,400 Cobb County teachers and employees responded to a District survey asking which survey option they preferred. More than 50 percent voted in favor of the balanced calendar option.

The Cobb County School District will monitor the impact of a balanced calendar on key operational areas, including student achievement, attendance, and discipline, as well as teacher morale and retention. Evidence and data from some districts that have adopted balanced calendars appear to support at least some correlation between the calendar change and improvements in these areas. The District also will track potential impacts on maintenance and utility costs.

Conference weeks and any early release days for the approved calendars will be determined at a later date.

2010-2011 School Year Calendars

• 2010-11 School Year at a Glance Calendar

2011-2012 School Year Calendars

• 2011-12 School Year at a Glance Calendar

2012-2013 School Year Calendars

• 2012-13 School Year at a Glance Calendar

  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

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

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!

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