Cobb County Georgia Market Stats 2011-2012

The market action index is moving toward favoring Sellers as the housing supply decreases and prices and sales increase. Check back often as I will update the stats for each month as they become available.

This info is compiled with data from 2011 to 2012 for Cobb County Georgia housing market statistics for Residential Detached home sales. Last year's stats will be in red and this year's stats are in blue.

Watch with me as the housing market improves along with our economy. To view homes for sale in Georgia click here or here

New Listings

January 2011-932

January 2012-745

February 2011-1,009

February 2012-836

March 2011-1,211

March 2012- 1.001

April 2011-1,087

April 2012-962

May 2011-1,036

May 2012

June 2011-1,042

June 2012

July 2011-890

July 2012

August 2011-907

August 2012

September 2011-800

September 2012

October 2011-750

October 2012

November 2011-668

November 2012

December 2011-604

December 2012

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Pending Sales

January 2011-329

January 2012-494

February 2011-456

February 2012-555

March 2011-563

March 2012- 640

April 2011-518

April 2012-618

May 2011-578

May 2012

June 2011-612

June 2012

July 2011-460

July 2012

August 2011-554

August 2012

September 2011-469

September 2012

October 2011-452

October 2012

November 2011-416

November 2012

December 2011-351

December 2012

Closed Sales

January 2011-254

January 2012-337

February 2011-325

February 2012- 413

March 2011- 460

March 2012- 476

April 2011- 479

April 2012-478

May 2011-518

May 2012

June 2011-647

June 2012

July 2011-538

July 2012

August 2011-568

August 2012

September 2011-510

September 2012

October 2011-465

October 2012

November 2011-417

November 2012

December 2011-420

December 2012

Closed Sales Dollar Amounts

January 2011-$45,510,595

January 2012-$56,523,383

February 2011-$55,904,842

February 2012-$65,359,173

March 2011-$89,939,086

March 2012- $84,505,512

April 2011-$85,206,606

April 2012-$93,630,075

May 2011-$94,068,187

May 2012

June 2011-$139,352,145

June 2012

July 2011-$109,311,896

July 2012

August 2011-$107,162,494

August 2012

September 2011-$90,276,446

September 2012

October 2011-$72,830,771

October 2012

November 2011-$76,039,178

November 2012

December 2011-$70,772,310

December 2012

 

 

 

You're Going Through Underwriting Before We Go Through A Door

This post is inspired by the challenges some Agents face when trying to close a sale for their home buyer clients, particularly with distressed property sales. The tight timelines and high per diem fees and penalties that these foreclosure sellers are putting on home buyers is getting less favorable for the buyer.

I'll begin by noting that this post is not directed to cash buyers, only the home buyers who are seeking financing to purchase their home.

This situation has been a topic I've had with many fellow Real Estate Agents and read in blog posts, articles, Agents' websites, etc. and the majority of the Agents require their clients to speak with a loan officer or mortgage banker before they will begin showing them homes and writing up sales contracts..

The problem begins with our online marketing and the fact that home buyers are starting their home searches online.
We have to market ourselves online to get exposure to gain new clients, the problem with that marketing is the way that it's set up. The buyers see a house they like at a price they think they can afford and walla some Agent's names, photos & contact information is right there for them to click to contact us for what they think is a showing appointment with no advanced preparation on the buyer's end to secure payment for the purchase.

Don't get me wrong, I love the real estate websites marketing services, I use Zillow, Trulia & Movoto and half of my business is from online prospects while the other half is from referrals from past clients so it's a very important part of my business. The problem is when we inquire as to how the purchase will be paid for, the potential buyer puts a wall up or they get offended.

We would possibly be overseeing the transaction for most likely the largest purchase of your life, you should definitely feel comfortable discussing with us how it's going to be funded.

So home buyers if you don't listen to any other advice that comes from your Real Estate Agent, listen to this-there's nothing worse than to have paid $300-$500 for a home inspection; 1% of the purchase price for an earnest money deposit; money for surveys and whatever other fees you may have paid to purchase the home-then get down to just days before the closing and underwriting denies the loan.

It's just better with such a major purchase and so much time, money and emotions that are involved in the home buying process to be well prepared in advance, don't you think?

So potential home buyers in Georgia get your last 2-3 years tax returns; last 2-3 months of bank statements; last 2-3 months of check stubs and ID copies together, then call, text or email me so I can guide you in the most rewarding home buying experience ever, beginning with full underwriting approval, not just a pre-qual letter. We can see some homes, but no contracts will be written without a pre-approval letter first and this is in your best interest. The scenarios below will show you why:

1, You begin your home search in May; You find a home you love in June and you want to submit an offer on it; the seller is a bank and they will only give you 30 days to close and charge $100 daily per diem fee to you for every day that you go past the agreed upon closing date; you feel secure with the terms because you have a pre-qual letter; 2 weeks later the loan officer asks for updated bank statements, you turn those in; 3 days after that the loan officer tells you your debt to income ratio is too high so you pay off $3,000 of your debt; a week later the loan officer tells you your job won't verify the full amount of income that you gave to get the pre-qual letter so they can't approve you for the purchase price of the home that you're under contract to buy; 4 days later the income issue gets resolved but the HOA hasn't given the closing letter yet; 10 days later the HOA sends the letter;  2 days before your new closing date underwriting discovers a new major purchase on your credit report, denies the loan and you can't buy the home. At this point you've spent $3000 EM deposit+$500 inspections+$500 appraisal+$50 homeowner's insurance+$3000 debt paydown+$1000 per diem fees=$8050 and still no house.These scenarios really do happen with the strict underwriting regulations that are imposed today and I read and hear horror stories from other Agents about it daily. Which is why I'll require my buyers get full underwriting approval before we go "under contract"

Agents and home buyers who have stories to share regarding their home buying or selling experience, I'd love to hear them, please post a comment.

Get credit restoration here

Search homes for sale in Georgia here

Priscilla Hammond
1st Choice Premier Realty Group

Maximum One Realty Greater Atlanta

Mobile 770.568.8932

Mobile 404.503.6562

Office 770.919.8825 press 1 for the dial by name directory then enter ham for my last name

2012ATL@gmail.com

Mortgage Insurance to Increase 04/01/2012 and other HUD changes

There are changes from HUD coming up soon that will affect the home buyers who are utilizing FHA loans.

In this blog post I will outline what the changes are and what they mean for you.

You can get the full details and read the new mortgagee letter at the HUD website.

The subject of the letter is titled "Miscellaneous Underwriting Issues"

The 1st item is regarding income verification for those of us who are self-employed-Self employed borrowers must show a y-t-d profit & loss (P&L) and balance sheet if more than 1 calendar quarter has passed since filing the most recent tax return.

If the income used to qualify the borrower exceeds the last 2 years tax returns, an audited P&L or a signed quarterly tax return from the IRS must be provided.

The 2nd item is regarding disputed accounts on the borrower's credit report-Disputed accounts will no longer trigger a manual underwriting review if
1. The outstanding balance of all disputed accounts are less than $1,000 and
2. It has been 2 years or longer since the date of the last activity listed on the credit report for all disputed accounts.

If the borrower has 1 or more disputed credit accounts or collections with singular or cumulative balances $1,000 or higher, the accounts must be resolved or paid in full prior to or at the time of closing.

Items resulting from identity theft, fraud or unauthorized use of credit cards can be excluded if proper documentation is provided.

Judgements will still have to be paid off before the loan is eligible for FHA insurance.

The 3rd item is regarding Identity of Interest transactions-Brother, Stepbrother, Sister, Stepsister, Uncle & Aunt have now been added to the definition of a family member.

Identity of Interest transactions may result in a reduced maximum LTV limitation.

The final item is the increase of the FHA MIP rate-The upfront FHA MIP will increase from 1.00% to 1.75% regardless of the loan term.

The annual premium will increase by .10% for all loans.

For terms longer than 15 years with LTV ratios greater than 95% the new rate will be 1.25%; with LTV ratios equal to or less than 95% the new rate will be 1.20%

For terms 15 years or less with LTV ratios greater than 90% the new rate will be 0.60%; with LTV ratios equal to or less than 90% the new rate will be 0.35%

Remember these changes and rate increases will apply to all FHA case #'s after April 1, 2012, so get your loan docs completed now. If you need assistance feel free to contact me.

View homes for sale with pictures and virtual tours in Georgia here, no registration required
To get help with financial or credit issues click here

Priscilla Hammond
404.920.4776 x21
404.503.6562

For Sale: 3BR/2BA Townhouse in Marietta, GA, $56,000

For Sale: 3BR/2BA Townhouse in Marietta, GA, $56,000

SOLD-----UNDER CONTRACT WITHIN 1 WEEK AND CLOSED WITHIN 2 MONTHS AND IT WAS A SHORT SALE-Let me help you sell your house.

Priscilla Hammond
1st Choice Premier Realty Group
Maximum One Realty Greater Atlanta
404.503.6562 Mobile
678.757.5885 Message
2012atl@gmail.com
www.bestgeorgiaagent.com

New townhome listing in Marietta GA for sale. This Cobb County townhome is in a prime location close to Historic Marietta and convenient to shopping centers. It has 3 bedrooms and 2 full bathrooms with a huge bonus room that has a private entrance on the side of the home. It has been well cared for and maintained and it's in immaculate condition. Short Sale sold as-is, third party approval required.

I'm your metro Atlanta and Cobb County Real Estate Agent if you need to buy or sell a house. Call me.If you'd like to view any of my listings I'd be happy to show them to you.

Fix Your Credit To Buy A House

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Is your life being affected negatively by low credit or FICO scores?

Click here  for details and an application to get help now

Would you like help from someone you can trust?

Then, you're at the right place!!

I've come in contact with so many people over the past year who have low credit scores and can't get a mortgage loan. So I came up with the perfect way to help them/you. I decided to join FES as an Independent Credit Restoration Agent so I could help the many people out there who have bad credit. I researched services that promised to help people with their credit scores but those companies turned out to only be scams or priced too high.
Our prices are affordable and FES was the one company that I could trust my reputation with. I'm a licensed Real Estate Agent and I wouldn't want to risk that by affiliating myself with a company that isn't legitimate.

We offer a wide range of financial, budgeting, credit restoration and consulting services.

Check it out by clicking on any of the hyperlinks and sign up to free yourself from bad credit or if you have additional questions regarding how the program works, feel free to contact me. .

To view mls listed homes, short sales and foreclosures for sale in Georgia click here

The Area With The Most Sales Closed In The Last Day

Cobb County had the highest number of sales. Is this email not displaying correctly? View it in your browser. Sales Trends For The Past 24 Hours The newsletter for this week shows the sales trends from one of our MLS databases for the last day. Cobb County had the highest number of homes sold with a count of 18. The highest priced home was Marietta in zip code 30064 for $535,000. The lowest priced home was Powder Springs in zip code 30127 for $4,900. The 2nd highest was Fulton County with a count of 15. The highest priced home was John's Creek in zip code 30022 for $545,000. The lowest priced home was Atlanta in zip code 30331 for $9,100. The highest priced home overall was Cherokee County in Alpharetta zip code 30004 for $650,000 it was priced at $739,000. The lowest priced home overall was the one in Powder Springs mentioned above. The total closed sales from the past day was 155 total with an average sales price of $116,194. Protect Your Finances  MLS listed homes for sale in Georgia   follow on Twitter | friend on Facebook | forward to a friend  DISCLAIMER The content provided is presented or compiled for your convenience and is provided for informational purposes only. The information provided on this blog should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. The investment, mortgage or financial services or strategies mentioned in and throughout this email may not be suitable for you. Nothing in this email should be construed as a solicitation of properties currently under contract with another broker.

Gwinnett County GA Real Estate Market Stats and Trends For The Past Year

This blog post is created to give home buyers, sellers and investors interested in purchasing Real Estate in Gwinnett County Georgia accurate sales data from the database real estate professionals in Georgia utilize on a regular basis.

This Gwinnett County market report is compiled with data from 02/13/2011 to 02/13/2012.

These are the market stats by price range for single family residences that have sold and are for sale in Gwinnett County Georgia.

Price Range	# Sold	Sold DOM	SP/LP %	Active Now	Active DOM	Months Supply
$0-$100,000	4009	116	95	956	96	2.9
$100-$125,000	1124	127	97.1	401	109	4.3
$125-$150,000	1031	133	97.4	458	134	5.3
$150-$175,000	690	137	97.3	372	125	6.5
$175-$200,000	507	143	96.8	280	122	6.6
$200-$225,000	317	132	95.7	185	115	7
$225-$250,000	216	135	97.3	183	124	10.2
$250-$275,000	191	126	96.7	131	130	8.2
$275-$300,000	127	135	96.8	123	130	11.6
$300-$350,000	197	132	95.8	123	135	7.5
$350-$400,000	103	160	96.1	92	164	10.7
$400-$450,000	84	148	96	59	114	8.4
$450-$500,000	46	152	95.6	48	202	12.5
$500-$600,000	42	143	93.7	47	167	13.4
$600-$700,000	26	132	96.3	22	231	10.2
$700-$850,000	14	215	87.7	23	272	19.7
$850K-$1M	13	179	89.2	17	260	15.7
$1M and higher	26	220	91.6	73	275	80.9
TOTALS	8781	126	96	3594	124	4.9

These numbers represent past home buyers actions and how much they paid for homes in Gwinnett County GA.

The average sales price over list price is 96.0%. For example: a home priced at $100,000 sold for $96,000.

The lowest sales price over list price was for homes priced in the $700-$850,000 range and that turned out to be at 87.7%.

The highest sales price over list price was for homes priced in the $125-$150,000 range and that was 97.4%.

Click on the chart to view it in a larger size

I hope this information is helpful for anyone interested in Gwinnett County GA real estate sales statistics.

View Gwinnett County homes for sale

Your Closing Statement Explained

Explanation of your HUD1 Is this email not displaying correctly? View it in your browser. The HUD1 Settlement Statement Also called a closing statement This week's newsletter will give you the details of your closing statement. It will show fees and charges that relate to the purchase of a home and which party pays for each item. This is a sample HUD1 settlement statement, these fees and charges are unique to this sample, but it will give you an idea of what your closing statement will look like. The purchase was for $51,000 with a $5,000 escrow for repairs which is an FHA 203b loan. It was a foreclosure. Line 101 is the purchase price of the home $51,000 Line 103 is the total closing costs charged to the Buyer $9,965.22, in this case the amount includes $5,000 for repair escrow. Lines 106-112 are the items that have been paid in advance by the Seller and the pro-rated amount from the closing date is due from the Buyer to the Seller-Line 107 $98.83 for County taxes. Line 120 is the total amount due from the Buyer to the Seller $61,064.05, which are the 3 items above added together. Line 201 is the credit for your earnest money deposit, in this case it was $1,000.00 Line 202 is the loan amount $56,459.00 Line 205 is a credit the lender gave to the Buyer $564.59 Line 218 is the seller paid closing costs $1,530.00 Line 220 is the total amount paid for or on behalf of the Buyer $59,553.59 which is the total of the 4 items above added together. Line 303 shows the total amount you owe to the Seller at closing $61,064.05 minus the items that have been paid for or by you $59,553,59 which equals the amount you'll have to pay at closing $1,510.46 in the form of a cashier's check or wire transfer. If the image of the sample HUD1 isn't clear, email me and I'll send you a copy of it. Next week's newsletter: Different types of financing available in today's housing market. The links below give you the option to unsubscribe from my weekly newsletters; go to my twitter profile; go to my facebook profile; forward the email to a friend. If you have any questions or topics you'd like for future newsletters send me an email. Credit & Financial Counseling Available Visit www.vrtmg.com/PHammond for more info and to sign up for credit, financial and estate services.  follow on Twitter | friend on Facebook | forward to a friend  DISCLAIMER The content provided is presented or compiled for your convenience and is provided for informational purposes only. The information provided on this blog should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. The investment, mortgage or financial services or strategies mentioned in and throughout this email may not be suitable for you. Nothing in this email should be construed as a solicitation of properties currently under contract with another broker.    | view email in browser

Tax Breaks For Home Owners

Ways home owners can cut down on their tax bills. Is this email not displaying correctly? View it in your browser. Money Saving Tax Tips   The newsletter for this week is all about taxes and how you may be able to save money as a home owner. Did you know you could lower your property taxes if the county appraisal value is too high? This link from the Wall Street Journal gives more info on how you can do it. Do you qualify for the homestead exemption?  Search your county tax assessor's website for "homestead exemption" to get all the details. This link from the IRS is helpful because you can find any tax breaks you may qualify for as a home owner. Be patient and search carefully there's a lot of info on this page. I hope this info helps you if you're a home owner or soon to be one. As always, consult with the appropriate professional for advice. I'm a Real Estate/Credit Rebuilding Agent. Next weeks newsletter-Breakdown of the HUD1 and what all the charges on your settlement statement mean. Find your new home here Priscilla Hammond 404.503.6562  follow on Twitter | friend on Facebook | forward to a friend  DISCLAIMER The content provided is presented or compiled for your convenience and is provided for informational purposes only. The information provided on this blog should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. The investment, mortgage or financial services or strategies mentioned in and throughout this email may not be suitable for you. Nothing in this email should be construed as a solicitation of properties currently under contract with another broker.  | view email in browser

Foreclosure Facts For Home Buyers

Helpful information for buyers interested in purchasing foreclosures. Is this email not displaying correctly? View it in your browser. Must Know Info Before Buying A Foreclosure   This property is a distressed sale. The prior owner could not make the payments perhaps for as long as several months, so assume that the proper home maintenance was not performed. This could be an issue in obtaining new financing, as the property must meet certain minimum requirements for  financing. If you are a foreclosure homebuyer in Georgia, you need to have representation from a Buyer's Agent (Priscilla Hammond) in the transaction that represents YOU as a client, not the listing (Seller's) agent. Be advised that while you may believe you are getting a great “deal”, it is the LENDER (not the seller or realtor) who determines the condition and value that will establish the terms of the new loan. This property may be sold “As-Is”, Where-Is”. If this is the case, know that this means the seller (bank, mortgage company) makes no representation as to the condition or habitability of the property. Serious conditions, such as visible or invisible black mold, wiring defects or missing wiring, etc. may exist which could affect the habitability of the home and may even have been an issue in the foreclosure. Even if these conditions may be known to the listing Realtor, they will not be disclosed to you or your Agent. There is no “seller’s disclosure” as required by the standard Realtor purchase contract (G.A.R) in any non-foreclosure sale. This disclosure holds the seller responsible for defects that are known or should have been known by a reasonable homeowner that are not disclosed to you at the time of contract. Your earnest money deposit may be non-refundable for any reason. Unlike standard contract sales, foreclosure sellers typically will require a higher amount of earnest money, and will not refund it even if serious problems are discovered with the house and/or it does not appraise for the sales price. Sellers (usually bank) may attempt to assess a daily penalty (up to $100 a day is common) if you do not close on the contract specified date due to delays that are not seller related. Many factors are involved in the processing and approval of your loan request: documentation analysis, appraisal, legal/title work, etc: delays do occur and all fees are the responsibility of the buyer. This could result in you paying higher closing costs. The seller will require that you use their pre-selected attorney. While the attorney in a real estate closing represents the lender and not the seller or the buyer, we may be able to accommodate the request if the fees are similar to other real estate attorneys that are on the lender approved list. The seller will only deliver a “Limited” Warranty Deed at closing, vs. a “General Warranty Deed. This will require that you purchase “owner’s title” insurance, increasing your closing costs but protecting you from any possible future title claims. It is strongly recommended that you have an inspection done (costs between $250-$550) depending on the size of the home. Appraisals are usually ordered after the inspection period has passed. Be aware that the home inspection is an opinion and not a guarantee or warranty from the inspector. Problems arising after the closing, regardless of severity are the responsibility of the buyer to repair. Your home inspector can recommend additional inspections such as mold, HVAC, plumbing, etc., if unusual conditions exist. These are the buyers’ responsibility as well. Homes sold at an auction: You should avoid purchasing a home at an auction. Credit Restoration Services Our service specialists will help you with a wide range of services to help protect you from identity theft, setting a reasonable budget, disputing items on your credit report and more!! Home Buying Services Our Buyer's Agents will prove to be your best choice in Metro Atlanta Real Estate with professional, friendly and thorough service. Preventing Foreclosure & Selling Your Home We provide the best marketing resources to get your home sold and to try to prevent foreclosure.  follow on Twitter | friend on Facebook | forward to a friend  DISCLAIMER The content provided is presented or compiled for your convenience and is provided for informational purposes only. The information provided on this blog should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. The investment, mortgage or financial services or strategies mentioned in and throughout this email may not be suitable for you. Nothing in this email should be construed as a solicitation of properties currently under contract with another broker.   view email in browser