***New Listings!***

868 Rose Circle SW, Atlanta GA 30310

3bedroom/2 full baths on a basement in the main house. 2bedrooms and 2 bathrooms in the guest house over 2car garage. ($139.9K)

http://www.postlets.com/repb/6683968

684 Grady Place SW, Atlanta GA 30310

2Bed 2bath Craftsman with great upgrades-solid wood cabinets, SS Appliances –a parlor room and 4 fireplaces! ($52K) –Owner will consider investor cash purchase as well at lower price

http://www.postlets.com/repb/6684272

 

South East Atlanta/ Grant Park

1369 Summer Lane Drive. SE Atlanta GA 30316

5bed/ 4bath, full finished basement, upstairs laundry, newer craftsman construction and bonus theater room! ($238K)

http://www.postlets.com/repb/6910369

To come:

1530 S. Gordon Street SW Atlanta 30310

3Bedroom, 2.5bath renovated traditional home with pocket doors, coffered ceilings, original hardwoods and fireplaces in bedrooms

(renovation in process- see stages on my Youtube )

Willard Ave SW Atlanta GA 30310

5bedroom, 2bath home Coffered ceilings, Built-in bookcase, fireplace, pocket doors and craftsman columns

Is Renting Still the Better Deal?

“Renting is the cheaper way to go!” Is this widely believed “fact” still true?  According to the latest research, renters spend 5% more on housing than home owners.  To find out why it’s more logical to just buy a home, rather than rent, and how the times have changed, visit Renters Outspend Owners on Housing.

FHA Program Offers Purchase, Renovation Aid

The Federal Housing Administration is encouraging use of its little-known 203(k) loan program.

The 203(k) lets an owner-occupant borrow money for both the purchase and renovation in one loan, and put down only 3.5 percent.

The program requires the use of credentialed contractors and can include cosmetic improvements as well as major renovations like replacing plumbing or electrical. Completing the application process requires patience, says Nancy Hammock, an associate with RE/MAX Properties in Western Springs, Ill.

But in this lending environment, more homebuyers are finding 203(k)s worth the hassle. In fiscal 2008, the government insured about 6,700 of the 203(k) loans. This year, more than 11,000 loans have already been insured, according to the Office of the Comptroller of the Currency.

Source: Chicago Tribune, Mary Ellen Podmolik

Small Homes Are In, but Big Homes not Gone

McMansions have fallen out of favor, according to a new study by the American Institute of Architects.

The survey of 500 architects showed that only 4 percent thought their clients wanted more space in their new homes, compared to 16 percent in 2008.

Home builders have already taken that information to heart with 59 percent of builders surveyed in May by the National Association of Home Builders saying they plan to build smaller homes in the coming year.

But don’t dismiss big houses. The builder association predicts that homes will stabilize at 2,500 square feet over the next five years, the average size of home in 2007 at the height of the housing boom.

Source: the Wall Street Journal, June Fletcher (06/29/2009)

Most Boomers Want to Stay in Current Home

A study of the Baby Boom generation by AARP and the National Association of Home Builders concluded that because the number of people age 65 and older will grow to 70 million by 2030, where boomers choose to live will have maximum impact on the housing industry.

While boomers will reflect the patterns of earlier generations and mostly age in place, said Elinor Ginzler, senior vice president of AARP, “The sheer number of boomers will increase demand for a whole variety of home and community options.

Here are some key findings from the study:

  • 79 percent say they would like to stay in their current homes as long as possible;
  • 10 percent say they would like to stay in their current homes, but don’t think they will be able to do so;
  • 26 percent of boomers plan to eventually move from their current homes, with the majority seeking a single-level home that is both comfortable and convenient;
  • 50 percent of those who plan to move want a home that is newer than their current home;
  • 49 percent expect to downsize to a smaller home.

Source: The Chicago Tribune, Suzanne Cosgrove (12/21/2008)

Cities Where Most Homes Are Mortgage-Free

Amid the subprime mortgage disaster, it’s easy to forget that a lot of people own their homes outright. In fact, a full one-third of U.S. homeowners don’t have a mortgage to worry about.

According to an analysis of census information by USA Today, there are 123 areas of the country where 40 percent or more of home owners don’t have a mortgage.

Many of those areas also never had any sort of boom in prices, either because they are in declining areas that have suffered job losses and dwindling population or because they are thriving retirement communities.

Cities with the highest percentage of owner-occupied properties that are mortgage free:

  • Bluefield, W. Va.: 57 percent
  • Sebring, Fla.: 56 percent
  • Odessa, Texas: 54 percent
  • McAllen-Edinburg-Mission, Texas: 54 percent
  • Weirton, W.Va.-Steubenville, Ohio: 53 percent

Source: USA Today, Haya El Nasser and Paul Overberg

Soon  West End Atlanta, will be added to this list 🙂 many of our homes are being purchased with Cash, or at a low enough financed price these homes will be paid for sooner than most expect!