Alpharetta Cumming Lake Lanier Real Estate Blog

What’s Ahead For Mortgage Rates This Week

2011-05-23T19:06:00.001-04:00

May 23, 2011

Mortgage markets were unchanged last week, despite improving on four of five days. Economic data was worse-than-expected almost across the board, but neither FHA nor conforming mortgage rates budged.

Instead, markets grappled with the just-released Fed Minutes which weighed heavily on investors and on Wall Street.With the release of the minutes, it’s increasingly clear that the Federal Reserve will end its support for bond markets on schedule in June, and that a Fed Fund Rate hike is possible within the next 12 months.

Not surprisingly, the date of the Fed Minutes release — Wednesday — was the singular “down day” for mortgage markets last week.

After falling for 4 straight weeks, mortgage rates appear to have troughed. This week they could rise, and there’s no shortage of data on which for bonds for trade.

•Tuesday : New Home Sales; Speeches from Fed’s Plosser and Bullard
•Wednesday : Durable Goods; FHFA Home Price Index
•Thursday : GDP; Initial Jobless Claims
•Friday : Core PCE; Pending Home Sales; Consumer Sentiment
There’s other forces on markets, too. First, there are 3 bond auctions — a 2-year, a 5-year, and a 7-year. Weak demand for any of the three will lead mortgage rates higher.

And, second, this is a holiday week. Memorial Day is next Monday and, with the 3-day weekend ahead, expect large numbers of Wall Streeters to skip out on Friday (and likely part of Thursday, too). As the week concludes, therefore, bond volume will thin, amplifying mortgage rate movement — up or down.

If you’re shopping for a mortgage, it’s a good time to look at locking in. As the week progresses, mortgage rates should become less predictable and more volatile.

Children’s Healthcare of Forsyth

2011-05-17T14:59:00.005-04:00

Children’s Healthcare of Forsyth
410 Peachtree Parkway, Suite 300
Cumming, GA 30041
Along with a facility tour, this family-friendly event will include:
 Face painting and a moonwalk for the kids
 Wellness screenings for scoliosis, asthma and body mass index (BMI)
 A chance to meet Hope & Will, the healthcare mascots
 A tour of their critical care vehicle
 Food & Drinks
Children’s Healthcare of Forsyth will provide specialized care & outpatient services, including:
 Fracture care
 Immediate care
 Orthotics & prosethetics
 Pediatric specialty care
 Rehabilitation
 Sports medicine
 X-Ray & Lab services
Stay Connected with Children’s:

For more information on this awesome facility
coming to our neighborhood,
visit www.choa.org/forsyth

What’s Ahead For Mortgage Rates This Week

2011-05-17T10:52:00.001-04:00

Mortgage markets worsened overall last week for the first time in 5 weeks.

Better-than-anticipated economic data plus dwindling concerns for Greece’s sovereign debt combined to a spark a bond sell-off. Conforming mortgage rates moved higher as a result.

Rate shoppers were hit especially hard last Tuesday.

At Monday’s close, conventional fixed- and adjustable-rate mortgages were posting their lowest levels of 2011, but by Tuesday’s market close, rates had climbed as much as 0.250 percent across the board. In some cases, more.

The spike highlights how quickly mortgage rates can change in a recovering economy, and why “floating” a rate can be costly.

This week, mortgage rates figure to be equally volatile. There’s a large set of market-changing data planned for release, and several Fed members have planned public appearances, including a 9:00 AM ET, Monday morning kickoff from Fed Chairman Bernanke.

•Monday : Bernanke speech; Homebuilder Confidence Survey
•Tuesday : Housing Starts; Building Permits
•Wednesday : FOMC Minutes
•Thursday : Existing Home Sales
In addition, Thursday brings a second rate shopper-risk.

The Initial Jobless Claims will be released at 8:30 AM ET and it will be closely watched by Wall Street. Initial claims are sharply higher since the end of April and investors believe the jobs market is key in a sustained economic recovery. If the data shows that initial claims receded, mortgage rates are expected to rise in response

The Atlanta Jazz Festival 2011

2011-05-16T16:49:00.003-04:00

Saturday, May 28th & 29th
at Piedmont Park, Atlanta, GA
The Atlanta Jazz Festival, May 28 & 29, 2011, is regarded as one of the Country’s largest FREE jazz festivals. It is an annual musical showcase, celebrates jazz legends and up-and-coming jazz greats in venues throughout metropolitan Atlanta during the entire month of May.

Mythic Creatures: Dragons, Unicorns & Mermaids

2011-05-16T16:36:00.002-04:00

February 19 - August 14, 2011
at Fernbank Museum of Natural History, Atlanta, GA
Price: $15 for adults, $14 for students/seniors, $13 for children ages 12-3, free for children 2 and younger, free for museum membership:
http://www.fernbankmuseum.org/
Discover how living and prehistoric animals inspired dragons, unicorns, mermaids and more as you learn how cultures throughout time have created mythic creatures to explain the natural world, express thoughts and share beliefs. Investigate authentic artifacts, fossils and dramatic models as you explore the stories, traditions and dances that celebrate these magical beings. Highlights include a 17-foot dragon, a 10-foot unicorn, a swooping winged Roc, a kraken surfacing from the sea, and more.

Home Prices Set To Rise?

2011-04-25T15:59:00.002-04:00

Demand Is Rising, Supplies Are Falling:

Home resales rose 4 percent last month, according to the March Existing Home Sales report. A total of 5.1 million homes were sold on an annualized, seasonally-adjusted basis.

The strong results re-establish the national, long-term trend toward rising home resales.

March marked the 6th month out of eight in which sales volume has increased and sales are up 32 percent from July 2010 lows.

Home supply has resumed its downward trajectory, too.

At the current pace of sales, the entire home resale inventory would be depleted in 8.4 months. This is 0.1 months faster as compared to February, and a full month faster than the 12-month average.

The Existing Home Sales report also included a breakdown by buyer-type.
• First-time buyers bought 33% of homes, down from 34% in February
• Repeat buyers bought 45% of homes, down from 47% in February
• Investors bought 22% of homes, up from 19% in February
35 percent of buyers paid in cash.

And, perhaps most noteworthy, according to the National Association of REALTORS®, 40 percent of March home resales were "distressed properties". Distressed homes include foreclosures, short sales, and REO and typically sell at discounts "in the vicinity" of 20 percent.

Home prices are based on the basic economic theory of Supply and Demand. So, with home supplies dropping and demand for homes rising, it's reasonable to expect home values to rise later this year.

If you're in the market for a home, play the recent trends to your advantage. Today, homes are affordable and mortgage rates are low. This may not be the case later this year. The best "deals" of the year may be what you buy now.

Call Mike and Melody now!

What's Ahead For Mortgage Rates This Week

2011-04-11T17:26:00.002-04:00

April 11th, 2011
Mortgage markets worsened last week as energy costs remained high, and jobs data looked strong. The safe haven buying that characterized the March mortgage market has subsided.

It's driving mortgage rates higher.

Conforming and FHA mortgage rates rolled back 8 weeks worth of improvements last week and are now back to mid-February levels. The rise in rates is hurting refinance activity and home affordability.

The biggest story from last week figures to carry forward into this one - the Federal Reserve's take on inflation.

In the minutes from its March meeting, the FOMC was shown to have discussed the possibility of raising the Fed Funds Rate ahead of schedule, and to be watching near-inflation closely. Both developments are in response to a growing economy with rising price pressures.

Mortgage rate shoppers should take note.

Inflation is a mortgage-rate killer. When inflation is present in the economy, all things equal, mortgage rates rise. Sometimes by a lot. And, usually, just the expectation of inflation is all it takes to make mortgage rates jump.

That's what we saw last week.

This week, keep a close watch on new inflation-related data set for release. This includes Tuesday's Retail Sales data, Wednesday's Producer Price Index, and Thursday's Consumer Price Index. Each release can potentially move mortgage rates although, if recent trends are an indication, expect for rates to rise.

Mortgage rates remain historically low. If you're shopping for a mortgage, consider locking as soon as you can.

Thought For The Day

2011-04-05T13:30:00.004-04:00

Ability is what you are capable of;
Motivation determines what you do;
Attitude determines how well you do it!

A great Spring Break day trip with the kids

2011-04-04T14:23:00.004-04:00

At Tellus Northwest Georgia Science Museum it's your mission to explore the solar system. So go ahead, reach for the stars, hang out with dinosaurs, play with a rainbow or find a gem. You can do it all without ever leaving Georgia.

The Tellus museum is every parent's and educator's dream: a place where children love to learn!

Because Tellus covers so many different aspects of science and history, the museum is broken down into four galleries. They include, the Weinman Mineral Gallery, the Fossil Gallery, the Science in Motion Gallery and the Collins Family My Big Backyard Gallery.

More than 50 cases containing minerals, gold and gems are located in the mineral gallery, where visitors learn how the earth was formed and what makes up its crust.

Creatures of every kind reside in the fossil gallery, including a Tyrannosaurus rex and a 9-foot wide jaw of a Megaladon (an ancient shark bigger than today's school buses).

The Science in Motion Gallery offers insight into the history of transportation, from the automobile to the space shuttle.

And finally, the Collins Family My Big Backyard Gallery becomes the playground for little "scientists" conducting everyday experiments like light refraction, sound wave structure, and the discovery of magnetic properties.

The museum also boasts an observatory and digital planetarium, and there's a fossil dig and gem-panning area for children.

The planetarium transports visitors to the farthest reaches of the universe (and beyond) to learn about black holes, the potential of other life forms and the patterns of galaxies. On special nights, Tellus opens its observatory for stargazing events.

Tellus visitors are able to go home with a goodie bag, of sorts. Youngsters are invited to sift through sand and water to find "precious" gems and even fossils (shark teeth and snail shells are among things hidden in the archeological dig). They'll never leave empty handed.

The museum will work with education groups to organize outings and planetarium field trips. But, learning isn't only for the young; adult seminars and topics are also open to the public.

Tellus Museum is located at:
100 Tellus Drive
Cartersville, GA 30120
(770) 606-5700

Consumers Agree – It’s A Good Time to Buy Real Estate

2011-03-25T12:07:00.002-04:00

RISMEDIA, March 25, 2011—According to the latest Spending and Saving Tracker from American Express, more than two in five (41 percent) of Americans said that it’s a buyer’s market for real estate. However, over 61 percent agree that a seller’s market is at least a year away.

Other findings:
• Homeowner confidence on whether they would receive the asking price for their home is nearly evenly split—43 percent said they are confident they would; 47 percent are not very or not at all confident.
• However, many homeowners—39 percent—are not willing to settle for less than the asking price, even considering the tough real estate market, in contrast to 23 percent who are willing and 38 percent who are not sure.

• To sell their home in the current market, 44 percent of homeowners note that they would be interested in including appliances, while 28 percent would consider offering to make requested repairs or allowing an allotment for repairs.

If your thinking of buying or selling, call Mike & Melody now.

"Atlanta's Newest Mortgage BANKER!"

2011-03-22T12:01:00.001-04:00

We are pleased to announce that Covenant Mortgage Corporation (our preferred Lender) and its associates are merging interest with Supreme Lending of Dallas, Texas

Why Are they Transitioning?
This merger will enable them to transition from their current "brokering" model to a "mortgage banking" model creating the solid foundation for superior customer service and increased speed in each transaction. Their goal is to establish the industries best "Customer Experience" for our clients.

Why Supreme Lending?
They explored a multitude of potential partners over the past two years. Supreme Lending
is a 2 Billion Dollar National Lender whose outstanding reputation with their bankers and customers has proven their attention to character, competency and chemistry in this industry.

What Does This Mean For You?
• Local Underwriting, Processing and Closing
• Local Decision Making...Common Sense Approach to Lending
• Coming Soon...7Day Approval, 10 Day Close
• Package to Attorney 48 Hours Prior to Closing
• Settlement Statements Delivered 24 Hours Prior To Closing
(With Covenant Chosen Firm)
• FHA, VA and Conventional

For More Information Call or Email our preferred loan officer
Phil Blankstein
Senior Loan Officer
Cell 678-938-7111
phil.blankstein@supremelending.com
NMLS # 251790, GA License# 26422

Is it time for weed and feed?

2011-03-16T15:27:00.003-04:00

Weed & feed is the generic name for a broad range of lawn chemical products designed to strengthen existing grass and kill off certain weeds in a single application. It generally improves your lawn’s ability to absorb water and food, and adds necessary nutrients which promote healthy growth. A healthy lawn, in turn, discourages weed propagation, enabling the use of a reduced amount of the product over time.

The “weed” portion of weed and feed is one of a variety of broad leaf-targeted herbicides (usually Dicamba, 2,4-D, and/or MCPP) that attacks dandelions, dollarweed, and most other green leafy weeds. The chemical is usually sold in granules that are applied to and subsequently absorbed by the leaves of the weed. The granules will not sit on grass blades, which is why weed and feed generally doesn’t kill regular grass unless it is incorrectly applied (over-saturating, especially, can cause grass death). There are also liquid forms of weed and feed that are generally applied with a foaming sprayer. The same concept applies for the foams: they sit on and are absorbed by large weeds, while they run off of grasses.

The “feed” portion of weed & feed is a fertilizer that contains some combination of nitrogen, phosphorous, and/or potassium to green up your lawn. The exact blend of fertilizer ingredients varies by brand, but all products will contain some percentage of nitrogen. Some products also include additional benefits, such as timed-released nitrogen for extended feeding.

When to Apply Weed & Feed
It’s important to apply weed & feed when weeds are actively growing. Applying weed & feed during the winter will have absolutely no effect on the lawn in the following spring and summer. You should spread weed & feed on damp/wet grass (use a sprinkler or apply just after rain) so that the granules stick better to the leafy portions of the weeds.

You should also pick a time when no additional rain is expected for two days, and you should avoid watering your lawn over this period. This allows time for the herbicide to absorb into the leaves. If it does rain or the lawn gets drenched, it will wash the granules off the leaves. In this case, however, you cannot re-apply the chemical immediately because you will over-feed the lawn and potentially cause a chemical scorch.

How to Spread Weed & Feed
There are a few important details to remember when spreading weed & feed. Keep all of these in mind when planning the job to achieve the best results. Note that these tips are not intended to replace manufacturers instructions, though you will find most manufacturers will recommend some variation of these tips.

■Make sure your lawn is a normal height (not too tall, not too short) – approximately 3-5 inches is good.
■Wait 2-4 days after mowing before applying. This protects your grass and helps ensure the weeds are actively growing. It also allows some of the leaves on the weeds to grow that may have been cut during mowing.
■Don’t water the lawn for two-four days after application. (Which means you shouldn’t apply the granules during a dry / hot spell).
■Be careful not to apply too much product as this will scorch your lawn. Check the manufacturer’s guidelines. Scorching occurs when you over-saturate the soil with the feeding chemical.
■Only apply weed & feed twice per year. Over-application can result in run-off that is harmful to the environment, such as nearby rivers, bays, or lakes/ponds. The feed portion of the chemical is actually more dangerous in these environments as it can encourage algae blooms which choke out fish and native plants.
■Be sure to spread the herbicide uniformly across the lawn for best results. You may choose to use a broadcast spreader and make two passes at half-application strength, rather than trying to spread at full strength in the first pass.
■Avoid spreading granules onto flowers, vegetables, and ornamental shrubbery. It will kill most broad leaf plants, regardless of whether you consider them weeds. If you must spread near a garden, either use a drop spreader or consider laying plastic temporarily over the area near where you will be spreading.
Planting Grass or Aerating after Weed & Feed
Weed & Feed prevents seed germination, so you should avoid planting new grass or aerating your lawn for at least four weeks. We recommend waiting longer, though. If you weed & feed in the spring and summer, spread grass seed and aerate in the fall each year.

Reasons Weed & Feed Didn’t Work
Here are some common reasons that weed & feed was ineffective:

■Weed & feed targets broadleaf weeds like dandelions, and dollarweeds. It does nothing for crabgrass and other grassy weeds. For these, you should use a crabgrass preventer in early spring. Make sure your weeds are on the list that the chemical targets.
■Mature weeds are not actively growing, so the product wasn’t as effective. Weed & feed should be applied early in the growing season and a couple days after mowing.
■Rain and sprinklers can wash away the granules. Make sure there is no rain in the forecast and avoid watering for two days after applying.
What if You Apply Too Much Weed & Feed?
The best way to avoid damaging your lawn is the flush out the weed & feed. Water your lawn with 1 to 2 inches of water for about 4 days. Don’t apply any other weed & feed until the following year.

Unfortunately, over watering like this can create run-off in certain drainage situations, so try to avoid the situation in the first place.

Safety Considerations & Pets
Like every lawn chemical, standard precautions should be followed before applying weed and feed or any herbicide to your lawn. These safety instructions are NO substitute for manufacturers guidelines. Be sure to read the safety instructions on the bag and follow them.

■Wear long pants and long sleeves and gloves during application. Herbicides like Dicamba, 2,4-D, and MCPP can cause serious skin irritation.
■Avoid contact with eyes. If you get the dust of the product in your eyes, flush them for 15 minutes with water.
■Never ingest the product, leave the product where a child could ingest it, or leave it open for pets. Weed and feed chemicals can be harmful or fatal if swallowed. If swallowed, you should call 911 or a poison control center immediately.
■Keep pets and children off the lawn until after the first drenching rain after application. Visually inspect the lawn to ensure the granules are completely dissolved.

What's Ahead For Mortgage Rates This Week

2011-03-15T11:43:00.003-04:00

March 15th, 2011
Mortgage markets improved last week in a week of few economic releases. The one major data point - Retail Sales - showed stronger-than-expected, but markets reacted mildly. The report's strength was whispered in advance of the actual release; its reading validated Wall Street's growing faith in the U.S. economy.

Most action last week revolved around the Middle East:
• Libya's internal turmoil continued
• Bahrain clashes intensified
• Saudi Arabia's citizens planned a Day of Rage
In response to these events, Wall Street continued its flight-to-quality. Mortgage-backed bonds are now at their best levels since early-February. Mortgage rates have improved 4 straight weeks.

Unfortunately for rate shoppers, the gains have been meager. Conforming mortgage rates have only dropped slightly.

This week, however, the market could move in either direction.

The biggest news on tap is the Federal Open Market Committee's 1-day meeting, scheduled for Tuesday. The Fed is expected to leave the Fed Funds Rate near 0.000 percent, but that doesn't mean that mortgage rates won't change. The FOMC's post-meeting press release will be closely scrutinized on Wall Street. Any changes in theme, tone, or message will cause mortgage rates to dart.

This week also marks the return of housing data with Housing Starts, Building Permits, and Homebuilder Confidence due for release. Housing is believed to be key to the economic recovery so strength in these reports should lead mortgage rates higher.

In addition, several inflation-related data sets will be released including Consumer Price Index and Producer Price Index. Inflation is generally bad for mortgage rates and with gas prices rising to a multi-year high, pressure will be on for mortgage rates to rise.

Lastly, there's Japan.

The nation's earthquake, tsunami, and (now) looming nuclear threat will have implications on the global bond market. Mortgage rates may benefit while the crisis remains unresolved.

If you've floated a mortgage rate over the past few weeks, it may be time to lock that rate down. Economic factors should be pushing rates higher, but geopolitics and natural disasters are keeping them low.

It's a perfect time to commit to a loan. Please call our preferred mortgage lender today if you have any questions.

CURRENT RATES (PURCHASE TRANSACTIONS)
Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.75 %
15-yr Fixed = 4.00 %
Conforming ARMS*
Conforming 5/1 = 3.375%
Conforming 7/1 = 3.875%
Jumbo Loans:Loan amounts over $417,000*
5/1 ARM = 3.875%
7/1 ARM = 4.25%
10/1 ARM = 4.875%
30-year Fixed JUMBO = 5.50%
FHA Loans:*
30-yr Fixed = 4.50%
5/1 ARM = 3.875 %

Call Phil Now For More Details!
*Based on pricing as of Monday, March 14th, 2010 at 12:00PM.
Prices, guidelines, and programs subject to change without notice. Subject to errors and omissions.
This information is not intended to constitute an advertisement for purposes of the Truth-in-Lending Act or Regulation "Z". It is intended solely for use by Real Estate professionals.
Residential Mortgage Licensee: GA Licensee # 22745, Florida Licensee # CL0800186,
North Carolina Licensee # B-147025, Covenant NMLS # 144774

For More Information Call or Email
Phil Blankstein
Mortgage Planner
Cell 678-938-7111
phil.blankstein@mycovenantmortgage.com
NMLS # 251790, GA License# 26422

Daylight Savings Time

2011-03-12T12:13:00.004-05:00

FHA Mortgage Premiums Increase

2011-03-07T16:27:00.005-05:00

FHA: Monthly Mortgage Insurance Premiums To Rise April 18th, 2011
For the third time in 12 months, the FHA is changing its mortgage insurance costs.

Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.

The change will add $250 to an FHA-insured homeowner's annual loan costs per $100,000 borrowed, and applies to all borrower's equally. Current FHA borrowers are unaffected.

To understand the FHA is to understand why premiums are rising.

As an institution, the Federal Housing Administration plays a much larger role in the U.S. housing market today than it did just 5 years ago. According to its own records, the FHA's percentage of purchase money business nationwide expanded from 4 percent in FY 2006 to 19 percent in FY 2010.

Rapid growth like this has strained the FHA's capital and, indeed, in its official statement, the FHA alludes to this, stating that the MIP increase will "significantly strengthen" its reserves. By law, the FHA must maintain a certain minimum level of reserves.

FHA mortgage insurance varies by loan term, and by loan-to-value and, beginning April 18, 2011, the new insurance premiums are as follows:
• 15-year loan term, loan-to-value > 90% : 0.50% per year
• 15-year loan term, loan-to-value <= 90% : 0.25% per year
• 30-year loan term, loan-to-value > 95% : 1.15% per year
• 30-year loan term, loan-to-value <= 95% : 1.10% per year
To calculate your monthly mortgage insurance premium, multiply your starting loan size by your insurance premium, and divide by 12. There is no change planned to the 1 percent upfront mortgage insurance premium charged by the FHA.

Please call us if you have any questions.

Forsyth County Senior Services

2011-02-09T17:29:00.002-05:00

Senior Expo is February 19
Ninth annual event showcases products, services to help plan for the future
The ninth annual Forsyth Senior Expo is coming to the Forsyth County Central Park Recreation Center Saturday, February 19, from 10 a.m. to 1 p.m. Forsyth County Senior Services invites senior citizens as well as their families and friends to attend the free event and learn about planning for the future.
This event provides a venue for information regarding a variety of topics including health care, housing, finance, safety and security, recreation, and travel.
Central Park Recreation Center is located at 2300 Keith Bridge Road (Hwy. 306) in Cumming.

For more information go to www.forsythco.com

THIS WEEKS MORTGAGE RATES

2011-02-08T08:01:00.002-05:00

CURRENT RATES (PURCHASE TRANSACTIONS)
Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.875 %
15-yr Fixed = 4.250 %

Conforming ARMS*

Conforming 5/1 = 3.625 %
Conforming 7/1 = 4.000%

Jumbo Loans:Loan amounts over $417,000*
5/1 ARM = 3.50%
7/1 ARM = 3.875%
30-year Fixed JUMBO = 5.50%

FHA Loans:*
30-yr Fixed Range = 4.875% - 5.00%
5/1 ARM = 3.75 % Qualify at Start Rate

*Based on pricing as of Friday, February 4th, 2010 at 12:00PM.
Prices, guidelines, and programs subject to change without notice. Subject to errors and omissions.
This information is not intended to constitute an advertisement for purposes of the Truth-in-Lending Act or Regulation "Z". It is intended solely for use by Real Estate professionals.
Residential Mortgage Licensee: GA Licensee # 22745, Florida Licensee # CL0800186,
North Carolina Licensee # B-147025, Covenant NMLS # 144774

For More Information Call or Email Mike and Melodys preferred lender
Phil Blankstein
Mortgage Planner
Cell 678-938-7111
phil.blankstein@mycovenantmortgage.com
NMLS # 251790, GA License# 26422

It's Time To File For Homestead Exemption

2011-02-07T16:37:00.005-05:00

State law provides that every new home owner is eligible to claim
Homestead Exemption as a tax benefit amounting to considerable annual savings.
To qualify for the property tax exemption, the home owner must occupy the residence and file for Homestead Exemption at the county court house or tax office depending on the county in which you reside. (One Time Filing Only)

County Deadline to File Phone Number
Fulton County April 1, 2011 404-612-6440
DeKalb County March 1, 2011 404-298-4000
Gwinnett County March 1, 2011 770-822-8800
Cobb County April 1, 2011 770-528-8600
Clayton County April 1, 2011 770-477-3311
Cherokee County April 1, 2011 678-493-6122
Henry County April 1, 2011 770-288-8180
Forsyth County April 1, 2011 770-781-2106
Douglas County April 1, 2011 770-920-7272
Fayette County April 1, 2011 770-461-3652
Paulding County April 1, 2011 770-443-7606

To file for exemption, most counties require you to provide the following documents:
Driver's license or ID card, Deed, Proof of Residency,
Social Security # for each owner, voter and vehicle registration.
Please call your specific county to verify required documents and office location.

Should you have any questions please contact us.

LAKE LANIER WORLD RECORD

2011-02-05T12:14:00.002-05:00

Lanier to go after world record raft-up: 2011 boats
Organizers need boats, volunteers for June 11 event
By Pamela A. Keene

If organizers have their way, the eyes of the world will be on Lake Lanier on June 11, 2011, when the lake’s boaters strive to beat the Guinness Book of World Records Largest Tie Up. In honor of National Marina Day, the Marine Trade Association of Metro Atlanta is organizing a gigantic raft up in front of Buford Dam.

“All boat dealerships will be participating, and we are trying to contact all the lake’s boat clubs to get their help and participation,” said Barkley Geib, who is organizing the event. “If everyone gets word of mouth going we should be able to make it. We’re really counting on huge participation from everybody on the lake – marinas, boaters, dealers – to make this a success. We’ll also need a lot of volunteers to run the event; it will be great fun for everyone.”

The official attempt at the record will be held in front of Buford Dam, with a two-story floating stage in the middle providing the entertainment and command center. The goal is to raft up 2011 boats, exceeding the previous record of 1651 boats in August 2010 on Lake Cumberland, Ky.

Entry fee is $30 per boat. Every boat must be registered. They must all be “tied-up” for 60 seconds and each boat must have at least one person in it. Boats can include everything from wave-runners, sailboats, houseboats, cruisers, pontoon boats, etc. All boats must be registered by midnight Monday, June 6. Every registered boat will receive a “Gift Swag Bag” worth more than $50 in gifts, including two “Official Guinness World Record T-Shirts.” A portion of the proceeds will be donated to a local children’s charity.

The mandatory captain’s meeting will be held at the Gwinnett Civic Center on Wednesday, June 8, at 6 p.m., with a chance to win $50,000 cash. Each registered boat gets one chance at the cash.

An adjudicator (or authenticator) will be at the event from Guinness to verify the record, and the New Guinness World Record Certificate will be awarded at the “Official Awards Ceremony” that is being sponsored by Sunset Cove and Lake Lanier Islands Resort after the event.

“Volunteers are desperately needed,” Geib said. “We will need a minimum of 14-20 large houseboats for help with positioning, but we welcome as many boats as we can register. We’re also encouraging people to register in groups from their clubs and marinas. As members of your ‘Group’ register, they just include the name of the group, and we will put them with the others in your group.”

By early February the website www.lanierworldrecord.com will be operational, with complete information about the event and the opportunity to register online.

More info:

Sponsorship opportunities - sponsorship@lanierworldrecord.com
To volunteer - volunteer@lanierworldrecord.com

Home Seller Do’s and Don’ts

2011-01-25T08:37:00.004-05:00

Pre-Sale Renovation: Home Seller Do’s and Don’ts

You’ve probably seen those depressingly cheery home-themed TV shows: a couple needs to sell their house, they have an outdated kitchen, and a designer comes in and proceeds to convince them to renovate the kitchen into a stainless-steel-clad shrine to culinary greatness—for tens of thousands of dollars. In an ideal real estate market, that would add value, but in today’s market, expensive pre-sale renovations, for the most part, aren’t worth it. The numbers bear this out: In general, a home remodel will cost quite a bit more than you’ll get back when you sell; remodels done in 2010 will only recoup 60% of their price when the house is sold, according to Remodeling magazine’s 2010 Remodeling Cost vs. Value survey, done in partnership with the National Association of REALTORS® (NAR).

Two of the areas that potential buyers are often most pressured to remodel before selling are the kitchen and bathroom. Here, we’ll tackle both of those rooms, and let you know what to do—and what to avoid—when considering a pre-sale renovation:

Kitchen
-Don’t put in expensive professional-grade cook’s appliances. You may choose a tricked-out, $10,000 Wolf stove, but the buyer may be a loyalist to Viking. Or, even worse, the potential buyer might be a take-out addict.

-Do, however, service the appliances you have, so that they work perfectly. And, if you have seriously outdated appliances that can be replaced for $1,000 or less (like swapping a dingy old fridge for a basic new one), that’s a good idea. Similarly, if there are any appliances that you lack, which most buyers consider essential, it makes sense to buy one (like a dishwasher—you can get a nice model for under $1,000).

-Don’t replace your cabinetry entirely—even if it’s a little outdated. It’s just too subjective. You might think sleek, white Scandinavian cabinets are the way to go, but you’ll be in a bind if your potential buyer prefers dark wood.

-Do invest in cabinet refacing if your cabinets are extremely outdated. Many refacing companies will give your cabinets a fresh façade for well under $2,000, and it’s a good investment in creating a positive impression of the room without doing a pricey knock-down.

-Don’t go granite crazy. Or marble. Or etched-Murano-glass-accented tile. Spending thousands of dollars on a new countertop and backsplash is downright dangerous, as there are so many different options these days, it’s impossible to find one that will please most people.

-Do hire a professional cleaning company to come in and make what you have sparkle. While this won’t magically make your tile look magazine-spread-worthy, it will certainly make it look a lot better, as discoloration from age often makes tile look even worse.

Bathroom
-Don’t do expensive tub/shower repairs or replacements. Just like with the big-ticket kitchen fixes, this is a matter of taste. If you put in a round jetted tub, what if the buyer wants square? And is an amethyst-crystal steam shower really something everyone will love?

-Do replace dated bath and shower fixtures; this can be done generally quite inexpensively. For instance, if you have a 30-year-old, tiny showerhead, replacing it with a large, rainwater-style model will lend a subtle spa-like quality without costing a lot.

-Don’t replace your smallish vanity with a new, built-in model. A lot of remodelers emphasize the intrinsically relaxing qualities of having all your toiletries, towels and even reading material beautifully organized in one big unit made of high-end wood, marble and chrome. And it is certainly beautiful. But it’s also a risky choice, and a matter of taste.

-Do freshen up the vanity area. Invest in a big mirror and put bright lights over it. And a few hundred dollars spent on a nice faucet is well worth it, as, like the showerhead, it’s a true basic—and updating the basics, in most homes and markets, is all you should be focusing on.

Other tips for redoing your kitchen and bathroom frugally

Kitchen:
-Declutter your counters. A disorganized kitchen is a buyer-deterrent. Clean up the counters and pare down countertop items to the essentials—toaster, microwave, coffee pot and not much more than that.

-Keep your pantry and cabinetry clutter-free too. You don’t have to alphabetize your cereals—just know that potential buyers will probably open those cabinets, so they won’t want a ladle falling out on their head.

-Give your kitchen table or breakfast bar some life. It’s simple—placemats, a colorful vase or two and a tasteful flower arrangement will reinforce the idea that the kitchen is the heart of the home.

Bathroom:
-If you want to add a little life to the wall, try a simple, straight-lined wood or stainless-steel floating shelf with a few candles on it. It’s an elegant, boutique-hotel touch that doesn’t cost much.

-Toss down a colorful floor mat. Bathrooms are often devoid of color; this is a great way to add that color, and a little warmth.

-Again, clear clutter. Even your beauty essentials shouldn’t be on the counter if you’re in the open house stage.

Article By Dan Steward
RISMEDIA, January 25, 2011

Call Mike and Melody if you are want to talk about selling your home.

THIS WEEKS MORTGAGE RATES

2011-01-24T13:58:00.002-05:00

CURRENT RATES FOR PURCHASE TRANSACTIONS
Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.75 % Purchase Only
15-yr Fixed = 4.25 % Purchase Only

NEW!
Conforming 5/1 = 3.50 % amortized; 3.75% interest only
Conforming 7/1 = 3.875% amortized
(Consult your Covenant Mortgage Professional for Refinance Quotes)

Jumbo Loans:Loan amounts over $417,000*
5/1 ARM = 4.25%
7/1 ARM = 4.50%
NEW! 30-year Fixed JUMBO = 5.50%
FHA Loans: *
30-yr Fixed Range = 4.625% - 5.00%
NEW! FHA 5/1 ARM = 3.50 % Qualify at Start Rate

Call Phil Now For More Details!
*Based on pricing as of Friday, January 21st, 2010 at 12:00PM.
Prices, guidelines, and programs subject to change without notice. Subject to errors and omissions.
This information is not intended to constitute an advertisement for purposes of the Truth-in-Lending Act or Regulation "Z". It is intended solely for use by Real Estate professionals.
Residential Mortgage Licensee: GA Licensee # 22745, Florida Licensee # CL0800186,
North Carolina Licensee # B-147025, Covenant NMLS # 144774

For More Information Call or Email our Preferred Lender
Phil Blankstein
Mortgage Planner
Cell 678-938-7111
phil.blankstein@mycovenantmortgage.com
NMLS # 251790, GA License# 26422

This weeks Mortgage Rates

2011-01-18T13:36:00.003-05:00

CURRENT RATES (PURCHASE TRANSACTIONS)
Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.625 % Purchase Only
15-yr Fixed = 4.00 % Purchase Only

NEW!
Conforming 5/1 = 3.375 % amortized; 3.75% interest only
Conforming 7/1 = 3.875% amortized
(Consult your Covenant Mortgage Professional for Refinance Quotes)

Jumbo Loans:Loan amounts over $417,000*
5/1 ARM = 4.25%
7/1 ARM = 4.50%
NEW! 30-year Fixed JUMBO = 5.50%
FHA Loans: *
30-yr Fixed Range = 4.375% - 5.00%
NEW! FHA 5/1 ARM = 3.25 % Qualify at Start Rate

*Based on pricing as of Friday, January 14th, 2010 at 12:00PM.
Prices, guidelines, and programs subject to change without notice. Subject to errors and omissions.
This information is not intended to constitute an advertisement for purposes of the Truth-in-Lending Act or Regulation "Z". It is intended solely for use by Real Estate professionals.
Residential Mortgage Licensee: GA Licensee # 22745, Florida Licensee # CL0800186,
North Carolina Licensee # B-147025, Covenant NMLS # 144774

For More Information Call or Email our Preferred Lender
Phil Blankstein
Mortgage Planner
Cell 678-938-7111
phil.blankstein@mycovenantmortgage.com
NMLS # 251790, GA License# 26422

Adjustable versus Fixed Rate Mortgages

2011-01-18T13:19:00.006-05:00

Comparing Mortgage Rates For
Adjustable And Fixed Rate Mortgages
For some homeowners, electing to take an adjustable rate mortgage over a fixed rate one can be matter of budgeting. ARMs tend to carry lower mortgage rates and, therefore, lower monthly mortgage payment as compared to a comparable fixed rate loan.

Relative to fixed rate mortgages, current ARM pricing is excellent. Freddie Mac's weekly Primary Mortgage Market Survey puts the 5-year ARM mortgage rate lower than the 30-year fixed rate mortgage rate by 1.02 percent.

On a $250,000 home loan, a 1.02 differential yields a payment savings of $149 per month.

ARMs are not for everyone, of course. Over time their rates can change and that can frighten people. An ARM can finish its respective 30-year lifespan with a mortgage rate as much as 6 percentage points higher from where it started. Some homeowners won't like this.
Other homeowners, however, won't mind it. For this group, the ARM can be a terrific fit. Especially with the huge, relative discount in today's pricing.

A few scenarios that should warrant consideration of a 5-year ARM include homeowners that are:
1. Buying a new home with the intent to sell within 5 years
2. Currently financed with a 30-year fixed mortgage with plans to sell within 5 years
3. Interested in low payments; comfortable with longer-term rate and payment uncertainty
In addition, homeowners with existing ARMs due for adjustment may want to refinance into a new ARM, if only to push the first adjustment date farther into the future.

Before choosing to go with an ARM, speak with Phil Blankstein, our preferred Lender, about how adjustable rate mortgages work, and their near- and long-term risks. Payment savings may be tempting, but with an ARM, payments are permanent.

You can reach Phil at 678-938-7111 or email him at phil.blankstein@mycovenantmortgage.com

10 Staging Tips to Get Your Home SOLD Faster!

2011-01-18T12:14:00.005-05:00

Home staging is more important now than ever because there is so much competition for the eye of a buyer. The house has to “wow” the buyer right from the beginning. And, research shows that staged homes sell more quickly and for more money. An interior designer or real estate staging professional can be a valuable resource. Most work by the hour and can help you find the right furniture arrangement and decorative touches to charm any buyer. These talented resources will help you rearrange and repurpose your existing furniture, artwork and accessories to highlight the best features of your home without spending a fortune. Before you call a professional, here are some things you can recommend to your sellers to get started.

10 Staging Tips To Get Your Home Sold Faster

1. Depersonalize the home by removing family photographs, memorabilia, children’s art projects, sports gear and collectables; anything that would distract a buyer. The purpose of the buyer’s visit is to engage with the home, to “try it on”. It is difficult for buyers to visualize their belongings in a home that is filled with personal items. Less is best.

2. Remove large pieces of furniture that make a room feel crowded. Rent a storage unit or POD if necessary so that you can make the rooms feel spacious. Arrange furniture so that rooms feel open and bright and walk ways are generous. Imagine what the room will look like when photographed. Will it look like a magazine photo? If not, remove more items. The buyer will most likely see the photographs first, so this is an important task.

3. Stage each room so that the buyer knows its purpose. For example, if you are currently using your formal dining room as an office, remove the desk and replace it with a dining table and chairs so that the buyer isn’t questioning the floor plan. Add a few decorative items that add a pop of color and pizzazz.

4. De-clutter countertops, closets and cabinetry. Clean countertops and closets so that they have the bare minimum. Arrange items in the cabinets so that they are well organized. Buyers will open closets and cabinets and make a judgment about the maintenance of the home accordingly. If items are neatly arranged and orderly, they will infer that the home has been well maintained.

5. Go room by room and check paint on walls and baseboards. Make any necessary repairs to sheetrock. A thorough cleaning and a fresh coat of a neutral paint will make the room feel and smell fresh. Clean carpets and flooring so that they sparkle. Replace worn carpet if necessary.

6. Lighten and brighten rooms so that they look large and happy. Replace light bulbs with new ones, avoiding the low wattage energy efficient ones. Remove heavy window coverings. Clean blinds and shutters. Clean windows inside and out so that nothing obstructs the light and views from the windows. Trim trees or shrubberies that interfere with the light.

7. Make minor repairs like re-caulking tub and shower, fixing dripping faucets, changing AC filters, balancing a ceiling fan, or any other repair that indicates that the property is well-maintained.

8. Remove any evidence of pets or animals, especially litter boxes and bedding. Pay close attention to and eliminate pet odors. Bad odors are always deal breakers.

9. Check the drive up curb appeal of the home. Mow the grass; weed, edge and mulch flower beds. Add some colorful perennials around the front of the home. Cut back or remove overgrown shrubbery. Trim trees. Place colorful pots of flowers by the front door. Check the exterior paint. Repaint the front door and replace old hardware. Remove toys and sports equipment. In winter months, consider sowing winter rye grass so that the yard pops with color when all the others are brown. If a home does not have curb appeal, the buyer may never come inside.

10. Give the home warmth and a touch of pizzazz. Spruce up the bedrooms with new bedspreads and some new pillows. Hang fresh towels in the bathrooms tied with ribbon or bows and remove toiletries. Replace worn mats and rugs. Add a large mirror over a dresser or low piece of furniture to add depth to a small room. Set the dining table with china. Check with a design professional for decorative touches that can add charm and highlight the special features of your home.

Call Mike and Melody about getting your home sold now!

Thinking about moving up to a larger home?

2011-01-13T15:41:00.016-05:00

$50 Million Mansion for only $18 Million

This unbelievable property sits on 72 acres in Cumming Georgia. The home is over 35,000 Square Feet. It has a 9 hole golf course, a movie theater, a bowling alley and all the things you would expect in this quality property. It has 7 bedrooms, 9 full baths, 11 half baths and a 20 car garage that doubles as a grand ballroom.

Bring your proof of funds and we will arrange to show it to you. Give us a call at 770-888-9269

This property is listed with Beacham and Company Realtors.