Monday, June 27, 2016

Buyer's Market - Seller's Market ? Should I care?

  There is much chatter today that we are in a Seller's Market in the Real Estate Industry. So what exactly does that mean to someone that may be buying or selling real property today? Let's take a look at some of the factors that determine our market:
 In a Buyer's Market there is typically a large inventory or selection of homes to purchase. While this is the primary factor there are other elements that influence market type, such as interest rate, employment rate and/or political climate to name a few.  When looking at inventory, we are looking at the number of homes on the market compared to the number of buyers actively looking to purchase. When the ratio of buyers to homes is less than 45% it is considered a Buyer's  market. In layman's terms: When there are more homes available than active Buyer's it is considered a Buyer's market. Home prices remain stable or sometime decline in a Buyer's market.
  In a Seller's market you have less available inventory than those wanting to buy a home. We are currently in a Seller's market as the inventory remains low partly due to many builders pulling out of the business during the thankfully now ended recession.  Another factor that exist in a Seller's Market is home prices tend to rise since the demand to purchase and is higher than available homes to purchase.  Again, inventory is a primary factor but there are others such as interest rate, area conditions, area growth plan and amenities.
We also need to look at the cost to borrow money. Fortunately, for anyone planning to buy a home today the rates are lower than they have ever been in this country.  Hopefully this brief explanation helps clarify some of the conditions that affect the real estate market. However, I think the important point to notice is that we are in an active market with great interest rates. If you are considering home ownership, now is the time. Contact us for assistance at

Saturday, June 11, 2016

Thursday, June 9, 2016

Atlanta is wonderful, growing and has grant $$$ available

  If you have considered relocating to Atlanta, now is the time. Atlanta continues to grow and mature as one of America's favorite places to live. While the Atlanta suburbs here maintain their healthy growth, the city of Atlanta has put its words into action and recently stepped up Atlanta's desire to be the destination place for the Southeast. Imagine the new Beltline with restaurants, shops, walking trails and parks all within the city of Atlanta. That's right, you can now enjoy to convenience of public transportation, live within a short Uber ride to major attractions, take in all that city living has to offer and receive financial support from the city of Atlanta in the form of Grant funds.
  What are grant funds? I'm glad that you asked because many do not know that this "FREE MONEY" is available. Grant funds are $$$ set aside by the government (In this case the city of Atlanta) for the purchase of real property or homes.
See below for current Atlanta programs.

*City of Atlanta 2017 Applications for Consolidated Plan HUD Grant Programs
The City of Atlanta, Department of Finance Office of Grants Services is currently accepting applications for the 2017 Community Development Block Grant (CDBG), Home Investment Partnership Program (HOME), Social Services and Housing Opportunities for persons Living with HIV/AIDS (HOPWA) programs:

  • Community Development Block Grant Program (CDBG estimated $6.7 million),
  • Home Investment Partnership Program (HOME estimated $1.4 million),
  • Emergency Solutions Grant (ESG estimated $611,000) and
  • Housing Opportunities for Persons Living with AIDS (HOPWA $16.0 million).             *Source: City of Atlanta web site
  What I like most about grants is that they are  FREE MONEY.  Once the funds are awarded, basically all you have to do is live in the property and maintain it. Most grants are "forgiven" in increments on an annual bases and once the time has lapsed, there is no repayment.
 Looking a bit closer:
You receive a $20,000 grant on a home purchase of $200,000
That means you are getting a $200,00 home at $180,000
If the grant is forgiven at 10% per year it would take 10 years for the total grant to be forgiven
      The $20,000 loan would be $18,000 at the end of the first year
      The $20,000 loan would be $16,000 at the end of the 2nd year
      The $20,000 loan would be $14,000 at the end of the 3rd year...........
That's right the "free loan" that you obtained would decrease by $2,000.00 per year and you don't have to make any payments. If you live in the property for the term (10 years) then the entire loan is forgiven. FREE MONEY!!!
Grant funds are not limited to the city of Atlanta.
For more information and to discuss relocating to or buying property in Georgia call Ken Harris at (770)998-9859