I do not want to end the year without posting something significant… I could have listed all of the best concerts that I saw, or I could have made witty remarks about the calamity and befuddlement of 2009, or deeply passionate remarks about sticking to your goals and maintaining a positive attitude about the economy, but instead I refer you to an interesting article by the intrepid folks at The Daily Reckoning. If you are considering an Intown Atlanta or Decatur purchase or sale in 2010, then there are some principles of basic, smart investing that you can glean from this article, so it is worth reading. If you are seeking a second property, or another vacation investment, or a unique primary residence or investment that is poised for appreciation, then this article is an eye opener. The author, Ronan McMahon, “scours the globe to find the most unique and value-oriented real estate opportunities.” He identifies the following 4 places for the “Best Real Estate … [Read more...]

So, where do I get my charts? I get them from Chartmaster Chuck. I bought them for a couple of years, and now, my broker buys them for me. Shaun Rawls is cool like that. So, we study 36 FMLS geographic areas from Cumming to Rex. The stats on our broad metro charts are pretty similar to our Intown numbers when you break ‘em down, but for my purposes, Intown is where I spend most of my real estate sales time. And, this website ain’t called the Intown Insider for nothing. When we surmise the real estate geography of Intown Atlanta we start with West Cobb with an Atlanta address. True Vinings. Not OTP. Area 71. We also look at Sandy Springs inside the perimeter. My office is there – so are the hospitals on Pill Hill. Meadowbrook and all those cool mid-century neighborhoods in unincorporated Dekalb with an Atlanta address are up there too. We look at three Dekalb FMLS market areas of 24,51, and 52 – I call those Greater Brookhaven, Chamblee, and Doraville, a touch … [Read more...]

“Interest rates are at historic lows but cyclical trends suggest they will soon rise. Home buyers may never see such a chance again,” writes Marc Roth in his recent Business Week article. By the way, the title of this post is ripped straight from Mark – it’s just too provocatively good to not repeat! “Well, you may not be stupid or broke. Maybe you already have a house and you don't want to move. Or maybe you're a Trappist monk and have forsworn all earthly possessions. Or whatever. But if you want to buy a house, now is the time, and if you don't act soon, you will regret it.” Here's why: historically low interest rates. “As of today, the average 30-year fixed-rate loan with no points or fees is around 5%. That, as the graph above—which you can find on Mortgage-X.com—shows, is the lowest the rate has been in nearly 40 years.” Mark’s article is a really good read for anyone interested in where we are at this point in business history. “If you are … [Read more...]

“Even during the darkest economic times, dreams don’t die.” Even in East Atlanta’s  Sun Valley, where I took this photo, one man gathers what another man spills. (note the “Zone 6” tag on the apartment building…as Gucci Mane says, and as I say to real estate investors ”meet me in da 6”) “Foreclosures are providing never before seen opportunities for new segments of homebuyers and allowing renters to become first time buyers, allowing investors to grab great deals and allowing families to trade up to larger homes. Until unemployment levels off and starts to get better, we expect foreclosures to continue to play a big role in the 2010 housing market.” Pete Flint, the intrepid CEO of Trulia said that. His comments accompany the latest survey that reveals insights to how consumers feel about purchasing a foreclosed property. “We are seeing a drop in the enthusiasm and excitement that the homebuying audience has expressed in prior quarters for … [Read more...]

Back in November, I came across this article written by Jessica Rao on CNBC.com. It’s very well written and I decided to look up Jessica – she’s on LinkedIn! She owns a PR firm. Lives in NYC – seems like a really cool girl, and she’s a very good writer. She writes occasionally for CNBC.com and I hope that some of you get as much from it as I did…some of you that need to get your houses sold in 2010. I’m offering my assistance to Intown Atlanta and Decatur sellers, everyday. Please let me know if I can help you with some street by street reality checking. In the meantime – check out Jessica’s article, featuring sage advice like this: “…If your price is not competitive with short sales and foreclosures, in many markets it might not get shown at all…look at pending sales. These will become the comparable sales. Even though they don’t say the exact sale price, you can make an educated guess or find out from the listing agent.” Don’t miss the … [Read more...]

2009…Prices in freefall. Volatility, mortgage for mortgage, transaction for transaction. The new President establishes an $8000 incentive plan. First Time buyers are choosing from about 15 different grant and second mortgage “programs” and “assistance” gimmicks. Far too many potential buyers sit on the fence and miss an opportunity to own property in the best purchase market in decades. Far too many sellers miss the market by fiercely believing the “not on my street” fallacy… Thinking ahead to 2010, here are five simple rules that are on the top of my mind for anyone who plans to engage in a real estate transaction: 1. Get Your Money Right – cash is king and lenders will require buyers to have a formidable basis for loan approval – buyers with the most cash at stake will dominate in most multiple offer situations, even if they offer less than a leveraged, mortgage heavy buyer 2. Due Diligence Goes Both Ways  - buyers must show up with a duly … [Read more...]