Keller Williams Most Recognizable Brand for 2009

Welcome back!

The 2010 Swanepoel TRENDS Report, scheduled for publication on February 8th, 2010, details the Top 20 largest real estate brands based on agent count as of December 2009, inclusive of recent changes and acquisitions up and including that date.

In addition, RealSure, the publishers of the Swanepoel TRENDS Report and the Swanepoel SOCIAL MEDIA Report, decided that it would be interesting to compare agent count rankings with the perception and recognizability of franchise brands by the industry itself.

On December 3rd a nationwide online survey was launched to determine the “Most Recognizable Franchise Brand in Real Estate.”

In the end an astonishing 11,355 agents voted, casting just over 390,000 votes for 33 different real estate franchise brands making this — according to knowledge — the largest survey of its kind in the industry.

The Top 10 real estate franchises, most recognized by the real estate industry as quality national brands are:

1. Keller Williams Realty
2. Coldwell Banker Real Estate
3. RE/MAX International
4. Century 21 Real Estate
5. Prudential Real Estate
6. Sotheby’s International Realty
7. EXIT Realty
8. ERA Real Estate
9. Weichert Real Estate Affiliates
10. Better Homes & Gardens Real Estate

The brands that made it to the Top 5 were to be expected and are also the five largest real estate franchises in the country. The Top 5 also comfortably attracted more votes than the second five on the list, strongly pointing to the industry’s own internal belief that these are the top five brands that agents would like to work for.

Keller Williams Realty’s surprising #1 ranking was most likely due to the strong, above average online and social media presence of their agents and the fact that during 2009 KW surpassed RE/MAX in agent count according to a widely published REAL Trends survey. Click here to read the article in it’s entirety.

Contact us today to learn about the benefits of working with Keller Williams Realty for all of your Sandy Springs real estate needs.

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Should I Short Sale My Home?

That is a question that many financially strapped Sandy Springs homeowners are debating right now. Clearly, they’re finding it difficual to qualify for federally-sponsored mortgage assistance programs covered under the Making Home Affordable program.

Over 500,000 homeowners have qualified for a modification, with little over half actually agreeing to a temporary modification and just a little over 1,700 actually receiving permanent modifications.

Short sales have helped many homeowners in resolving their debt issues, but there are pros and cons to consider. Below are some of the most important questions to consider before deciding whether to short sale your Sandy Springs home or not…

1. Can you afford to keep your current home? This is relatively a simple question. Because if you can afford to keep your home, then why wouldn’t you? Depending on your specific situation, you may qualify for a loan modification. Is your hardship temporary? Are you struggling to make the payments today, but may be fine in just a couple monthsl? If your hardship is more of a permanent nature due to loss of job or disability, then a short sale may be something you need to consider.

It’s important to be brutally honest with yourself. I’ve had many clients who have pulled out all of their funds from retirement accounts to try and make their payments, but when those funds ran out, their option was to do a short sale. A little foresight goes a long way in protecting yourself.

2. Do you want to keep your current home? Whether from a change in marital status, children leaving home or moving back in, a job change or health related issues or other events, sometimes you may no longer want to keep your home. You’ll need to evaluate your present accomodations to make sure it is still a good fit before deciding whether to stay or sell.

3. Can you handle your other debt obligations? Short sales are often a great alternative to those seeking to avoid bankruptcy or foreclosure.

4. Do you owe more on the home than it is worth? With home prices declining and many teaser rates or interest only mortgages automatically adjusting, many homeowners now owe more than the current market value of their home. For some, we’re not just talking about tens of thousands, but into the six figures. It should be a priority to determine whether it is worth the long term cost of paying down a high mortgage or saving for retirement, college and other expenses for the family.

5. Are you unable to refinance or gain more favorable terms? Not only have home values dramatically declined in many parts of the country, but rising unemployment rates, tighter lending standards and higher debt to income ratios caused by re-setting interest rates on ARMS have resulted in the perfect storm in the lending world. Homeowners are increasingly unable to obtain favorable refinance terms. The biggest issues for most homeowners is that their home won’t appraise high enough for them to refinance without putting more money down.

6. Do you desire a relatively quick sale? Due to the decline in the economy and surplus of existing home sales, there is a large inventory of homes on the market. Those that really want to sell must price right and work aggressively to position their home for a quick sale. While a short sale isn’t “short” (typically 60-120 days), they are generally much faster than the current sales period for a regular MLS listing (6 to 12 months). Contact your Sandy Springs Realtor to understand the stats!

7. Do you want to avoid fixing the property in anticipation of a sale? Few things are worse than being forced to spend money in order to sell a property below the price you originally paid. Short sales are generally sold “as-is” which keeps you from spending more time and money necessary to put the property up for sale in the traditional manner.

Aaron Hofmann, a Certified Distressed Property Expert and a local Keller Williams Sandy Springs Realtor, is available for financially burdened homeowners to discuss their situation in confidence. Additionally, if you’d like to learn more about short sales, check out our Atlanta short sale resource.

Black Friday

Time for some turkey and time to give thanks. Thanksgiving time. It’s certainly a time of year when we get to spend time with friends and family and realize that we are fortunate.

But for some savvy shoppers, this is also the time of year to prepare to assault the stores on what has become known as Black Friday. Now while you may be looking to take advantage of the latest deals, keep in mind that not all deals are found in the stores.

For example, you can find lots of great deals online.

 

Another option is in the Sandy Springs real estate market. Home prices have been reduced, interest rates are phenomenal and if you’re a first-time homebuyer you can qualify for $8,000 and if you’re a move-up homebuyer you can qualify for $6,500.

These kind of deals are going to be hard to beat in the stores or even online. To make your Black Friday shopping spree, easier, we’ve compiled up-to-date lists of Sandy Springs short sales as well as foreclosures in Sandy Springs.

• Sandy Springs Short Sales
• Sandy Springs Foreclosures

If you’re interested in taking advantage of the Sandy Springs Black Friday deals in the real estate market, be sure to contact us for your free buyer consultation.

Congress passes Extension for Homebuyer Tax Credit

Congress has overwhelmingly passed a bill, with the House of Representatives passing it today and the Senate passing it on Wednesday, that would extend the $8,000 first-time homebuyer tax credit to home purchases under contract by April 30, 2010 and closed by June 30, 2010.

This is an extension of the credit that was set to expire on November 30th. This The bill could be signed by the President as early as Friday.

The bill also creates a $6,500 credit for those who buy a home after living in their current house at least five years. These homes would also need to be under contract by April 30th and closed by June 30th.

The credit would be available only for the purchase of principal residences priced at $800,000 or less.

The bill also raises the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

This is a great opportunity for first-time homebuyers and move-up homebuyers and we’ll be discussing the value and opportunity for both of these targeted groups.

If you need assistance with your Sandy Springs real estate needs, be sure to contact us, your local market experts.

Aaron Hofmann Receives Certified Distressed Property Expert Designation

Aaron Hofmann of H2 Realty at Keller Williams Realty Cityside has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

In the Sandy Springs area, many homes are in danger of foreclosing. It is happening in all price ranges. Local experts say that even high-priced homes are not immune. Currently there are over 200 homes, condos & townhomes that are currently marketed as distressed properties (short sales or foreclosures).

“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said Hofmann. “It is so rewarding to be able to help sellers save their homes from foreclosure.”

“To help educate the consumers, our team has developed an informational site called ShortSalesCentral.com. The site provides a lot of valuable information for both distressed homeowners as well as buyers looking to purchase a home,” according to Mr. Hofmann.

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Aaron Hofmann with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

If you are behind in your mortgage payments or contemplating not making your payments, contact Aaron Hofmann and his team to understand your options and identify the solutions that are best for your situation.

Georgia Homebuyer Tax Credit

It’s still preliminary, but the state of Georgia is working on a homebuyer tax credit in addition to the $8,000 tax credit passed by the federal government last month.

Georgia residents who buy a home would get a three-year tax credit under legislation that easily passed the House today.

Under the bill, home purchasers would receive income tax credits of up to $3,600, up to $1,200 for each of three years. In order to qualify, homeowners would have to apply for the credit within six months of the date the governor signs the bill.

The measure now moves on to the Senate. The goal is to help revitalize Georgia’s residential real estate market.

Georgia’s housing issues are not nearly as bad as many parts of the country, but it’s great to the Georgia leaders understand the importance of kick-starting home sales as this will have a direct impact on a multitude of industries and the overall economy.

The legislation would apply to new and previously occupied homes as well as residences that have been foreclosed.

The credit could be used either for houses and condominiums and either on primary or second residences.

We’ll keep you posted on as this bill moves forward. For some homebuyers, this could mean a total of $11,600 in tax credits for the purchase of their new home and for others who didn’t qualify for the federal $8,000 credit, it would mean a $3,600 tax credit. Either way, it’s a great incentive to take advantage of this great buying opportunity in the Sandy Springs real estate market.

Homestead Exemption Information

A homestead exemption is a reduction in homeowners’ property taxes.  To qualify, the homeowner must apply for this exemption on or before April 1st. Once granted, this exemption is automatically renewed each year as long as the home is continually occupied under the same ownership.  The home must be the legal residence for all purposes including the registration of vehicles and the filing of income tax.  A homestead exemption cannot be filed for rental property, vacant land or on more than one property.  In addition to basic homestead exemption, there are additional exemptions for residents age 62 and older and/or disabled veterans.  These exemptions must be applied for in person with Fulton County.  For additional information and requirements, please contact 404-612-6440.

Sandy Springs Mortgage Minute

With a new year come new opportunities and if you’re thinking about buying a home this year in Sandy Springs, the opportunities will abound. We may very well look back on 2009 as the best year to buy real estate in the last 25 years. Home prices have come down and interest rates are phenomenal.

The year in review:

The 2008 mortgage -related headlines read as follows: Bank Failures; Subprime Meltdown; Financial Crisis; Government Assumes Control of Fannie Mae and Freddie Mac; Treasury to Buy Mortgage-Backed Securities; and so on.

2008 was a good year for some people. It was a terrible year for many. It doesn’t matter which side of the fence you sit, we can all agree that it is now gone.

I’ve never seen more volatility in the financial markets than in 2008. 30 year fixed home loan rates varied between a high of around 6.50% to a low of just under 5.00%. Interest rates bounced all over the place and changed by nearly .50% in a single day on several occasions.

So, where do we go from here?

What to expect:

Home loan rates are going to start 2009 at historical lows. The markets are still a mess and the volatility should continue. The $10 million dollar question of course is: Are rates going to continue to drop and how low can they go?

The experts differ on the answer so I’ll offer some advice. We are at once in a lifetime levels right now. There is a chance for rates to move either direction from here. If you are considering buying a home, you don’t want to miss this opportunity.

Many feel we will see the bottom of the housing market this year. So, low rates coupled with low home prices should make for a nice combination in 2009.

Breg-ometer:

Next 7 days: Friday’s job report could help rates move lower
Next 30- 90 days: Chance for lower rates; Governmental interaction likely

Courtesy of:

Bob Bregitzer

Promenade at NorthPlace Slashes Prices

The Promenade at NorthPlace recently auctioned a select number of their brownstone townhomes. They have now slashed prices for a limited time. The homes have been reduced by a minimum of $100,000, creating a great buying opportunity.

The townhomes were originally all priced in the $300s and now are starting from $199,000. Combined with historically low rates, it’s a great time to make a home purchase one of your 2009 goals.

The Promenade at NorthPlace is conveniently located in the city of Sandy Springs, which is one of the Atlanta’s most affluent residential communities. The neighborhood is situated at Abernathy Road and Barfield Road.

Feel free to contact us if you have any detailed questions about the Promenade at NorthPlace townhomes or any of the surrounding Sandy Springs neighborhoods.

Sandy Springs to purchase former Target site

The Sandy Springs City Council approved $8 million purchase the 8-acre former Target site on the corner of Johnson Ferry Road and Sandy Springs Circle last month. It seems that Sandy Springs residents are in odds over this purchase.

Can a city incorporated a little over three years ago, go from being conservative and cautious in their spending to purchasing a property for the future?

The sale is due to close next week on December 16th.The purchase does not include the adjacent Goodwill store or property, which is connected to the Target building.

“This will not take any funds from any of our programs that provide local services to the community. … They will move forward,” Mayor Eva Galambos said at the council meeting.

Dist. 1 Councilman Doug MacGinnitie said projects that should take priority over a new City Hall include rebuilding Hammond Park, repaving streets, building sidewalks, making intersection and traffic improvements, improving parks and neighborhoods, and fixing the city’s stormwater system.

But ultimately this may have been an opportunity that Sandy Springs could not pass up. With property values lagging, there is no better time to buy.

It’s not easy to find 8 acres available in the center of Sandy Springs and this could be the first step towards revitalization of Sandy Springs and the creation of a new city center. Whether this will be used for a new police department or a new City Hall, is uncertain at this time.

But it is clear that if Sandy Springs wants to create a central identity for this young city, future purchases will be needed to assemble the land necessary to bring this to fruition. Now that this purchase is nearing completion, the next few months should bring more clarity on the vision for Sandy Springs future development.