New Heights of Penthouse Luxury

UPPER WEST SIDE MANHATTHAN (13,800 sqft)

PRICE TAG $37.5million

The Rental Market on the Rise

With so many homeowners overburdened with debt, combined with low home values, there are plenty of homeowners walking away from their homes, getting foreclosed, or short-selling their homes. While in the short run, this may seem like the only viable option for many people, the long term impact will be felt for years to come.

We are basically setting up a very strong rental market for the next 10 years. When a homeowner goes into foreclosure, they are basically unable to purchase for seven years. Selling a home through short sale also affects one’s credit for several years, although usually not as long as with a foreclosure on a credit report.

The only alternative that they have is to rent. With record numbers of people in the same boat, it is going to flood the rental market with a lot of renters and therefore increase the demand for rental homes—setting landlords up for a great position in the future.

For people who can afford to purchase rental property, the timing has never been better. Home pricing is very low and we are looking at 10 years of the strongest rental marketing in decades. How are you adapting to this trend? As an agent, you need to look at who you are marketing to and how this shift will impact you and your business.

You may very well have future landlords on your past client or sphere list who either haven’t even thought of owning rental properties as an investment option or who are overwhelmed with where to begin. Or perhaps it’s time for you, as a Realtor, to add some rental properties to your own real estate portfolio.

Source: Short Sale Daily News!

Ranch w/full Basement (Decatur)

RENT: $1050
BD/BA: 3/1.5
STATUS: AVAILABLE APRIL 1st
DESCRIPTION: Rambler located in Decatur off White Mills/Candler. This home has hardwoods throughout, separate living room, eat-in kitchen, full-basement w/two additional rooms, large fenced yard, washer/dryer included.

TOP 10 WEIRD HOMES

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Building your Portfolio: No Better Time Than Now

Don't give up on your portfolio just because the market looks bad. This could be the perfect time to invest.

How does that old investing adage go? Buy high, sell higher? Of course not. When prices are low, it's the right time to buy. During the darkest time, you should get out your flashlight and start looking for deals.

Right now, the real estate market is hitting rock bottom and the stock market is stop-and-go. Homes and land, blue-chip stocks and hyper-growth rockets, they're all starting to look mighty cheap. Your favorite investment vehicle is less important than your eye for undervalued assets.

It's easy to find beaten-down investments these days. The trick is to identify the ones that will make it through the hard times and realize their true value once again. Great management can steer a solid business through rough waters, only to come out stronger when the market normalizes again, and the less talented competition is fighting for its life. And great real estate is great real estate, even when market conditions push buyers away and prices down.

If you don't feel comfortable calling the bottom quite yet, you have a couple of options. For one, you could take the leap anyway. Very few investors manage to jump in at exactly the right time, and there's no shame in getting in too early. The name of the game is to get in, because you can't make any money in the market if you don't invest at all.

Another choice is to take a hard look at alternative investments. International stocks, for example, are good bets while the U.S. dollar remains in free-fall. When the dollar drops 10 percent against the yen, Japanese investments get a free 10 percent value boost above whatever returns the stocks themselves may give.

Finally, you could simply park your nest egg in a high-yield money market account or certificate of deposit (CD) until you see market conditions that you like. Just remember the first point: don't stay out for too long. That's no way to grow your wealth, or even protect your assets from the ravages of inflation.

The younger you are, the more you need to be in the market. When you're investing for retirement, which is decades away, you can afford to take on some short-term risk in order to catch the long-term rewards.

Recessions and bear markets are an investor's best friends, as backwards as it might sound. As long as you're still looking to make new investments, you really want prices to be as low as possible, and broad market downturns give you plenty of that. Let the good times roll, but not until you've funded your nest egg. Buy low, then sell high-that's the way to riches in your golden years.

By:
Anders Bylund - MortgageLoan.com

Mortgage Rates Slowly On the Rise

It's time to say hello to 5% loans.

The national average interest for a 30-year, fixed-rate mortgage surpassed 5% for the first time since May 2010, according to Freddie Mac's Primary Mortgage Market Survey.

During the week ending Feb. 11, rates averaged 5.05%. That factors in an average of 0.8 points in fees that the average borrower paid to lower his or her rate.

And rates quoted by Bankrate.com -- which look at loans not backed by mortgage giants Fannie Mae or Freddie Mac -- spiked to nearly 5.25% in the past week. (This index has been popping under and over 5% since early December.)

"That's a pretty appreciable increase and the pressure is upward at the moment," said Keith Gumbinger of HSH Associates, whose own barometer of mortgage rates has been rising quickly as well.

These rising rates will most impact those trying to refinance, rather than those trying to buy. Homebuyers tend to focus on other aspects of the purchase, according to Gumbinger, like whether they like the home and, especially, home prices.
Housing markets: Best recovery bets

"The interest rate is not the key issue for buyers," he said. "Increases do not produce a huge deterrent."

For one thing, prices tend to decline a bit in response to higher rates, which offsets some of the increase. For another, most buyers could absorb the additional $29 per month that the recent interest rate jump would produce.

The rising rates can give a temporary boost to home sales because waffling buyers to get off the fence thinking it may cost them more to delay.

This week's rate bump comes in a time of uncertainty surrounding the future of mortgage lending. Washington is mulling over the future of two government-backed mortgage giants. The two companies, plus the FHA, support the vast bulk of all mortgage lending.

"If you're thinking of buying a house, you're probably better off buying in this reasonably certain lending environment than in the rather uncertain environment that's coming," said Gumbinger.

Source CNN Money

ATL is one of the highest foreclosure markets in the U.S. Is this GOOD or BAD?

Finding a foreclosure can sometimes be a sweet deal or a money pit. Please be careful if your interested in buying a foreclosure for the first time. Novice investors can be quick to make hasty decisions, which may lead to buying a bad investment. I can't say this enough. DUE DILIGENCE! As a novice investor, its recommended that you partner with a savvy investor, talk to a real estate consultant, or hire a knowledgeable agent whose familiar with the foreclosure market.
TIP: The best way to find a steal is to work directly with the asset manager at the bank before the property is even released to the public.

At the moment, Atlanta has one of the highest foreclosure markets in the U.S.
Is this GOOD or BAD?

Well, I would say it depends on which side of the fence your on.
In the past, the term foreclosure was a forbidden word. It was an embarrassing and shameful situation for most. In today's market, houses are foreclosing at an astronomical rate. People are losing their dream homes, which is still a very embarrassing ordeal, but there are more options available. At one point, apartment communities were in demand. Today, more private owners have made decisions to lease their homes, which have left apartment communities struggling to reach full capacity and forced to offer ongoing move-in specials.
The single family home will always be in demand, unlike apartments. They offer privacy; yards, parking, storage and the neighbors don’t have to know if they are owners or renters. Renters want to have the same lifestyle as homeowners.

As a result of the high number of foreclosures in Atlanta, this has allowed investors to purchase homes .25$ on $1.00. If your looking to invest, incredible profits will be made in Atlanta in the next 10 years. For the younger and middle age investor with time in their favor, building your portfolio now can be an integral part of your future success.

It has been proven, with actual examples, that if leveraged correctly, a portfolio can grow substantially in as little as 10 years. One of the benefits is that this portfolio can grow itself. With normal appreciation after several years the homes can be refinanced, then the money from equity can be used to purchase more homes or retain all your cash and the tenant still makes the mortgage payment.
So, you tell me is it GOOD or BAD?

Stunning 3bd condo in West Paces Community!

RENT: $1800
BD/BA: 3bd/3.5ba
STATUS: AVAILABLE MARCH 1ST
DESCRIPTION: Gorgeous condo located in West Paces Community. Located on Howell Mill, minutes from I-75, Buckhead, retail shops, and entertainment. This luxury condo features a spacious floorplan, separate dining/living room, sitting room off master bedroom, two master suites with balconies, harwoods, gourmet kitchen w/corian countertops and stainless steel appliances, jacuzzi tub, tiled bathroom, plantation shutters, washer/dryer included. Community offers gated entry with 24-hr concierge, pool, recreation room, and fitness. AVAILABLE NOW TO VIEW!!

MY NEIGHBORS HOUSE SOLD HOW COME MY HOUSE HASN’T?

There may be several reasons your home is not getting attention. 1st DON’T try to sell your home by owner unless you have a strong marketing strategy. A yard sign and a craigslist ad are not going to cut it! You have to aggressively market a FSBO with online marketing, print ads, and I recommend you list the property on a Multiple Listing Service in your area. When placing online ads please make sure you upload multiple photos. Whose going to consider your property without photos? PEOPLE NEED A VISUAL! Make sure you take good photos. Are you wondering what are good photos? Well, let me tell you what not to do.
DO NOT!
Only photos of the exterior; no photos of the interior
No kitchen and bathroom photos
People and pets in the photos
Only one photo
House not clean in the photo
Outdated and distorted photos
The very first thing people look at when searching for homes online is the photos. PICTURES ARE NOTICED BEFORE ANY WRITTEN WORDS! Most do not read the description unless they like the pictures and of course the price. Don’t lose a potential person of interest because you didn’t have any photos.
If you’re not familiar with real estate contracts, negotiating, or creative ways to market your property, please list your property with a good realtor in your area. It will make the process much easier.

2nd – Is your home priced too high? Don’t just pick a number out of the sky when pricing your home. Verify the comparables in your neighborhood. This is a buyers market. It’s going to be difficult to resale your property at retail price when most buyers are purchasing properties at wholesale prices.
If you’re house is not worth your loan balance, which may be the case, then your faced with some important questions. Why are you selling? Is the mortgage unaffordable?
If your mortgage is unaffordable there are many options available for you.
You may want to consider a loan modification or a short sale. If your reason for selling is not a finance issue, you may want to consider renting. Renting may be a good choice. Place a tenant in your property for a few years and let the market catch-up.

3rd - How does your home interior rate? Important things to remember:
•Decor - Are your walls purple and orange? Purple and orange may be beautiful but you might want to consider changing your paint to neutral colors. It’s amazing the slightest things that can turn people away. Although, paint cost is only $30 a gallon.
•Do your kitchen appliances look like this →
If your kitchen appliances are anything similar to this photo, please UPGRADE.
•Make sure your home is thoroughly cleaned. Hire a cleaning professional if necessary. A stack of papers or boxes piled up neatly in the corner is not considered clean; its still clutter.
•Landscaping – Does your yard look like a wilderness. Please cut the grass and trim the hedges. Everyone will appreciate the effort even your neighbors! Consider planting flowers, fix cracks in the driveway, and if the mailbox is falling over REPLACE IT!
The point is you can’t expect to sell your home without putting in some effort. If you don’t put forth effort people can tell and no one is going to purchase your home especially in this market with so many options available. Please remember these important tips when selling. Make it very presentable. You want people to fall in love with your home. That’s the only way there going to buy it!

Is NOW A Good Time To Buy An Investment Property?

Yes, its always a good time to purchase investment property. The problem is over the past ten years, people were purchasing investment properties like cars. Just because you qualify doesn’t mean you can afford it. A car is a depreciated item; a house is an appreciated asset and all assets must be protected. If you are considering purchasing an investment property whether cash or acquiring a loan there are five imperative things you MUST have in place.
1. Reserves - If you have a mortgage, you should have a minimum of 3 months of mortgage payments on reserve plus repair expenses and utilities.
2. Plan – before you purchase have a plan in place. (Renting/rehab/owner financing/lease purchase/hold) What are you going to do with the property? Old rule “If you fail to plan, you plan to fail”
3. Do the math - Will more money be going out then coming in? Make sure you crunch all the numbers and expenses. If an investment property doesn’t cash flow, then it’s not a good investment; it’s a liability.
4. Location – make sure you purchase in a good location. What is a good location? Well, a good location is where people want to live. If your purchasing in the suburbs, make sure the property is located near a good school district. Most families’ first priority is the school district. Secondly, if your buying in the city find a property located within close proximity to your cities central business district, cafes and restaurants, retail shops, and all the good stuff your city has to offer. The main reason people live in the city is for convenience.
5.Management - If you plan to rent, have a management company in place especially if you have more than one property. Most owners try to work a full-time job and landlord properties as well; IT DOESN’T WORK. In order to be an effective landlord, hire professionals to assist you with your property. The last thing you want is to be in court with your tenant on a workday using vacation time. LESS HEADACHES!
If you follow these five golden rules, then you're on the right track to getting a good return on your investment. YOU MUST DO YOUR DUE DILIGENCE!! A bad investment can really affect your credit and/or your liquid.

Property for RENT 5bd/3ba (Ellenwood, GA)

RENT $1600
Spacious two-story home located in quiet subdivision in Ellenwood. Over 3000 sq ft, this home has hardwoods, granite counter tops, open-foyer, formal dining/living room, media room/office, family room, large master suite and bath, 2-car garage, alarm system, fenced yard.
(404) 931-8848

Are You Upside Down and Frustrated!

Is your mortgage upside down? Don’t be discouraged, you’re not alone! If your mortgage has become unaffordable, there are options available for you. Many organizations have created programs to assist homeowners in your situation. The economic crisis has increased the amount of foreclosures, which as a result has decreased the value of your home.
Programs available to YOU:

*Home Affordable Modification Program (HAMP) was created by the Obama Administration to assist homeowners avoid foreclosures by modifying home loans to a level that is affordable. CHECK IT OUT! https://www.hmpadmin.com/portal/index.jsp
HAMP eligibility requirements:
Borrower eligibility is based on meeting specific criteria including:
1) Borrower is delinquent on their mortgage or faces imminent risk of default
2) property is occupied as borrower's primary residence
3) mortgage was originated on or before Jan. 1, 2009 and unpaid principal balance must be no greater than $729,750 for one-unit properties.

*Home Affordable Foreclosure Alternative (HAFA) was created for homeowners who don’t qualify for HAMA with other alternative such as short sales or deed-in-lieu.

*NACA Home Save Program is one of the largest and the most effective organizations assisting homeowners fight lenders to adjust mortgages and interest rates to an affordable mortgage payment. https://www.naca.com/index_main.jsp
All of these programs are viable options to assist you in saving your home.
Some may wonder why not short sale? Well, a short sale impacts your credit the same as a foreclosure. You will not be able purchase another home for three years.
So, before you decide to short sale try to modify your loan.

Definitions
Upside down – the value is lower than your current principal balance
Short sale – the mortgage company allows you to sell the property for less than the principal balance and accepts the payment as paid in full.
Foreclosure – the legal process where the bank/lender takes possession of the property for non-payment.
Loan Modification – when the bank/lender reduces the principal balance and/or interest rate to a more affordable payment for the homeowner.

Verify WHO owns your loan?
FANNIE FannieMae.com/loanlookup or call 1-800-7FANNIE (7 am to 7 pm CST)
FREDDIE https://ww3.freddiemac.com/corporate/ or call 1-800-424-5401