Posts Tagged ‘real estate market’

h1

Home: Spacious Renovation in Brookwood Hills (Ransom Team)

August 26, 2010
324 Camden Road

324 Camden Road

Standing on the sidewalk in front of this charming Brookwood Hills home you will think you are about to step foot into the perfect little cottage.  324 Camden Road is perfect, but it is certainly not little.  Spacious and diligently renovated you will be speechless when you discover all the wonders of the 1964 home.

Step through the red front door and you will immediately realize the home is much bigger than it appeared.  To your left is a formal dining room and to your right a front living room with built-in bookshelves and a fireplace.  The room has two floor-to-ceiling windows on each end.  You can enjoy the openness the windows create as the natural light falls into the room.

Family Room

Family Room

A back room that was most likely originally paneled in dark wood has been painted white with charming contrasting trim.  The room has built-in shelving and a new custom built wet bar.  The addition of the bar will make having an impromptu party a breeze.  Everything you need is right here in one place.  The current owners also use this space as a place to relax and watch TV. 

Kitchen

Kitchen

It is also easy to tell the person that remodeled this house likes to cook and entertain.  The kitchen is not only highly functional, it is extremely appealing.  Dark stained cabinets, granite countertops, tumbled tile up the walls and a lead glass window will tantalize your senses.  Viking appliances, including a double range with double ovens, might make you think you are in a top chef’s kitchen.  A separate beverage refrigerator will help make ample room for all of your masterpieces in your Sub-Zero refrigerator. This room may make a chef out of even the most challenged cook!

The master suite will accommodate a king size bed, dressers/chest of drawers and a sitting area.  The walk-in closet is tucked neatly into a corner on the way to the bath.  Separate sinks are encased in antiqued cabinetry with multiple drawers and cabinets.  There is a separate shower with frameless glass doors and a whirlpool tub.

Backyard

Backyard

The first floor provides easy access to a bluestone tile patio covered by a trellis.  A built-in gas grill and cooking station make outdoor entertaining just as easy as indoor entertaining.  Access to the remaining yard can be reached by a few stairs connected to the grilling and dining area.

It is truly remarkable what has been done with this property.  So much has been added without taking away from the beauty of the original structure. 

 Offered at $924,900

324 Camden Road
Atlanta, GA 30309

Five Bedrooms, Four Full and One Half Baths

Please click here for more photos of this home

Bill and Leslie Ransom, Buckhead Office, REALTOR®

Bill and Leslie Ransom, Buckhead Office, REALTOR®

Leslie and Bill Ransom
Atlanta Fine Homes Sotheby’s International Realty
Direct: 678.640.3588
Office: 404.835.9600

h1

Atlanta home prices up 4% in May (Natalie Ransom)

July 19, 2010
Natalie Ransom, Buckhead Office, REALTOR®

Natalie Ransom, Buckhead Office, REALTOR®

From Atlanta Business Chronicle

For the second month in a row, home prices in metro Atlanta increased.

CoreLogic (NYSE: CLGX) on Tuesday published its Home Price Index (HPI), which shows home prices, including distressed sales, in metro Atlanta rose 4.03 percent in May 2010 compared to May 2009. This compares to April’s year-over-year HPI, which was 1.11 percent.

Home prices in the United States also rose in May, marking the fourth-consecutive month with a national increase. American home prices, including distressed sales, increased 2.9 percent.

The top five states with the highest appreciation in May were Vermont (5.1 percent), Rhode Island (5.5 percent), Massachusetts (5.7 percent), Virginia (6.8 percent), and California (7.9 percent).

The five state with the biggest price losses were Idaho (-6.6 percent), Alabama (-5.3 percent), New Mexico (-4.2 percent), Maryland (-3.1 percent) and Wyoming (-3.1 percent).

“Home price appreciation stabilized as homebuyer tax credit driven sales peaked in late spring,” said Mark Fleming, chief economist for CoreLogic, in a statement. “But given that the labor market and income growth remain tepid we expect prices to moderate and possibly decline the rest of the year.”

h1

Where America’s Money is Moving

June 17, 2010

Low taxes, warm sunshine and deep discounts on real estate. No wonder IRS data shows the wealthiest among us are headed south.

From Forbes.com

Surprise: America’s wealthy like warm weather and low taxes. That’s the takeaway from IRS data, analyzed by Forbes, on moves between counties. We looked for counties that the rich are moving to in big numbers.

Topping the list: Collier County, Fla., which includes the city of Naples. Tax returns accounting for 15,150 people showed moves to Collier County from other parts of the country in 2008, the latest year for which IRS data is available. Their average reported income: $76,161 per person–equivalent to $304,644 for a family of four. Although slightly more taxpayers moved out of Collier County than into it, the departing residents’ average income came out to just $26,128 per person.

In second place is Greene County, Ga., with a population of just 15,743 at the Census Bureau’s last estimate. The IRS data show that in 2008, 788 people moved to the county, about 75 miles east of Atlanta.

Rounding out the top five: Nassau County, Fla., near Jacksonville; Llano County, Texas, 70 miles northwest of Austin; and Walton County, Fla., 80 miles east of Pensacola.

Top 5 Places Where America’s Money Is Moving

 No. 1: Collier County, Fla.
Arriving average income per capita: $76,161
Departing average income per capita: $26,128
Stationary household average income per capita: $49,959
Total arriving people: 15,150
Total departing people: 16,802
Top origin: Lee County, Fla. (2,987 people)

No. 2: Greene County, Ga.
Arriving average income per capita: $56,414
Departing average income per capita: $25,432
Stationary household average income per capita: $30,875
Total arriving people: 788
Total departing people: 778
Top origin: Putnam County, Ga. (76 people)

No. 3: Nassau County, Fla.
Arriving average income per capita: $51,833
Departing average income per capita: $29,312
Stationary household average income per capita: $32,306
Total arriving people: 4,785
Total departing people: 3,690
Top origin: Duval County, Fla. (1,721 people)

No. 4: Llano County, Texas
Arriving average income per capita: $44,324
Departing average income per capita: $22,541
Stationary household average income per capita: $26,201
Total arriving people: 1,192
Total departing people: 1,018
Top origin: Burnet County, Texas (312 people)

No. 5: Walton County, Fla.
Arriving average income per capita: $45,591
Departing average income per capita: $28,360
Stationary household average income per capita: $30,553
Total arriving people: 3,939
Total departing people: 3,230
Top origin: Okaloosa County, Fla. (1,148 people)

 The dominance of the list by Florida and Texas–the former has eight of the top 20 counties, the latter four– makes sense to Robert Shrum, manager of state affairs at the Tax Foundation in Washington, D.C., since neither state has an income tax. “If you’re a high-income earner, then that, from a tax perspective, is going to be a driving decider if you’re going to move to one of those two states,” Shrum says.

After accounting for property taxes, Shrum’s analysis shows that Texas has the fourth-lowest personal tax burden in the country, and Florida has the eighth lowest. Shrum also points to eight states that have targeted wealthy households with extra-high tax brackets: California, New Jersey, New York, Maryland, Hawaii, Oregon, Connecticut and Wisconsin. Six of the top 10 counties the rich are fleeing are located in those states. Read the rest of this entry ?

h1

Report: 77 percent of Americans expect stable or rising home prices (Alice Belko)

April 22, 2010

Alice Belko, Buckhead Office, REALTOR®

Alice Belko, Buckhead Office, REALTOR®

Article extracted from the Atlanta Business Chronicle and submitted by Alice Belko of Atlanta Fine Homes Sotheby’s International Realty

h1

4 Great Real Estate Deals That Won’t Last

April 7, 2010

Taken from Investopedia.com

Purchasing a home is one of the biggest decisions that a person makes. Because of the serious financial commitment involved, most buyers are interested in securing the best deal possible when purchasing a home. As the economy continues to wreak havoc on our jobs and plans for retirement, many people are wondering when will be the best time to purchase a house.

Much like timing a move in the stock market, potential home buyers are waiting for the time when they can maximize their investment. Lower home prices, low interest rates and federal subsidies have all led to better deals in real estate, but these perks may not last much longer.

Lower Home Prices

Since the real estate bubble burst, many real estate markets have seen a dramatic price drop in median home value. While this can be devastating to home sellers or home owners who are underwater with a mortgage that is worth more than their home, it can be a great opportunity for the home buyer.

More from Investopedia»  5 Simple Ways To Invest In Real Estate

»  Financing For First-Time Homebuyers

»  Choose Your Monthly Mortgage Payments

In many markets across the United States, it is truly a buyer’s market as prices continue to be well below levels from just several years ago. With many homes now going into foreclosure or short sales (where the lender agrees to sell the property at a moderate loss in order to avoid foreclosure), opportunities abound for the qualified buyer; that is, one who can still secure a loan.

While some experts believe that home prices should start to increase by summer, others think that it’s likely the prices will simply stabilize. Either way, for buyers this means it may be a good time to purchase a home. With the large number of homes currently on the market, there is a relative balance between supply and demand. As more people become willing to purchase homes, prices may reach a turning point.

Low Interest Rates

Over the past year, the Fed has been buying billions of dollars’ worth of mortgages every month, boosting the market. The mortgage-backed securities (MBS) market is similar to the stock market. When there is a high demand for a stock, the price rises; when there is a high demand for mortgage coupons, those prices rise.

Mortgage securities prices and interest rates are inversely correlated: as prices go up, mortgage rates fall; and when prices drop, mortgage rates increase. The Fed has purchased large quantities of mortgage-securities, keeping prices artificially high and mortgage rates low. Analysts believe that once the Fed ends its purchase program at the end of March, prices will fall, resulting in increased interest rates.

The Mortgage Bankers Association (MBA) expects the rate on a 30-year fixed rate mortgage to increase to 6.1% by the end of the year. This is up from an average of 4.91% for the week ending March 19, 2010.

To put this into perspective, a $180,000 30-year mortgage (excluding taxes and private mortgage insurance) at 6.1% will require a monthly payment of $1,091, with total interest paid equal to $212, 685. The same loan at a lower 4.91% rate will create a $956 monthly payment (saving $135 per month) with total interest equal to $164,305 (a substantial savings of $48,380 over the course of the loan). Rate changes as little as 0.5% can have a significant impact on the overall cost of a home.

Federal Tax Credits

The Federal home buyer tax credits will cease at the end of April. Created by The Worker, Homeownership and Business Assistance Act of 2009, these credits include the $8,000 first-time buyer credit and the $6,500 credit for current home-owners purchasing a new principal residence (repeat home buyers). The credits apply to sales occurring by April 30, 2010 – or June 30 if there is a binding sales contract in place by the April 30 deadline.

While the program has provided financial incentive and relief for many home buyers, there is no indication that it will be extended beyond April 30th. Buyers who want to take advantage of the credit will have to act quickly.

A Gamble

Timing a home purchase to get the best price at the best rate is a bit of a gamble. While many analysts believe that now is a sensible time to engage in a real estate purchase, six months from now might be a better time. It’s like trying to pick when the stock market will turn: you can only make a well-educated guess and hope that your research pays off. What we do know is that the Federal tax credits will soon end, interest rates will rise and home prices may begin to climb. Now just may be a good time to get into a new home.

h1

Atlanta is the #7 moving destination according to U-Haul (Leslie Ransom)

April 6, 2010
 

Leslie Ransom, Buckhead Office Founding Member, REALTOR®

Leslie Ransom, Buckhead Office Founding Member, REALTOR®

Submitted by Leslie Ransom of Atlanta Fine Homes Sotheby’s International Realty. Taken from the Atlanta Business Chronicle

Atlanta dropped from No. 1 but remains a top 10 destination city, according to U-Haul International Inc.’s annual migration trend report for 2009.

The Big Peach ranked seventh after being ranked the top destination the year prior.

 
The No. 1 destination for relocating Americans is now Houston, followed by Las Vegas; Chicago; San Antonio, Texas; Orlando, Fla.; and Austin, Texas. After Atlanta are Sacramento, Calif.; Kansas City, Mo.; and Denver.

The moving company said its rankings show destinations for movers traveling more than 50 miles and includes every city regardless of size. However, the data is not stated as a percentage of population and is not reflective of overall growth, U-Haul said.

The report was compiled from more than 1 million U-Haul truck transactions last year.

h1

Existing home prices down, but not as far as last month

April 5, 2010

Taken from the AJC

Home prices across metro Atlanta fell in February, but not as far as they did the month before, which is a good sign, experts say.

Median sale prices for existing single-family homes fell 4 percent in February to $110,100, when compared to the year before, according to a National Association of Realtors report released Tuesday. That decline is also an improvement on the 10 percent year-over-year drop prices seen in January.

January’s numbers left real estate insiders wondering how the rest of the year would play out. February’s data looks stronger, but still doesn’t imply recovery, said Hank Miller, a Prudential Georgia Realty broker and certified appraiser.

“The jury is still out in my mind,” Miller said. “I’m hopeful that we’re shaking off this little slump, so I’m cautiously optimistic.”

Of the top 20 metro areas surveyed by the Realtor’s association, Atlanta is one of six that did not see year-over-year price improvement. Other declining areas include Baltimore, Miami/Ft. Lauderdale, Portland, Ore., San Antonio and Kansas City, according to the report.

Even though Atlanta didn’t see improvement in February, gains may not be far behind, said Cameron Findlay, chief economist for LendingTree.com.

“I think the Atlanta market is going to see some improvement from here,” he said. Read the rest of this entry ?