Monday, November 28, 2011

Million Dollar Homes: Time to Find Your Georgia Dream House

Looking for your dream home in Georgia? Now is the perfect time to shop for that lovely southern estate you have always wanted. Currently, the state boasts a huge inventory of homes over $1 million, with plenty of luxurious features and prime locations to choose from.

Whether you are looking for a stately mansion or a modern home big enough for a large family and all your guests, Atlanta real estate has what you are looking for.

Location, Location

Many of the million-dollar homes available feature plenty of acreage. Some are located on property with ponds and woods – perfect for exploring. Others are set on golf courses, allowing residents to enjoy their favorite sport right out their own back doors. Many of the listed homes are located within walking distance of parks, shopping districts and historic landmarks. The majority are situated in some of the most popular Georgia neighborhoods, including Brookhaven, Buckhead and Marietta.

Luxury Features

When you are shopping for Atlanta real estate in the million-dollar range, you know the home you choose will feature plenty of luxurious touches. Swimming pools, elevators and gourmet kitchens are common additions. Additional fireplaces, warm woods and screen porches provide homey touches to large, majestic homes. Older homes have often been remodeled to provide old southern charm with all the modern amenities you could wish for.

Room for Guests

While the homes on this list boast ample bedrooms and baths for even larger families, some also include guest homes or carriage houses on the property – perfect for guests who come to stay. These additional structures also offer additional living space for extended family members. Additional garage space and attic and basement room ensure your entire clan will have sufficient space and storage within one of these lovely homes.

The Atlanta real estate inventory for luxury homes has never been better, with more than 40 pages of delightful, million-dollar homes to entice you to take the next step in home ownership. When you are ready to make the move to luxury living in the south, your dream home is ready and waiting for you.

Saturday, November 26, 2011

Mortgage Rates Continue to Slide Closer to 4% Mark

The most recent numbers released by Freddie Mac show that mortgage rates are continuing their fall, ebbing even closer to the four-percent mark that experts say would mark a record-low. The rates began falling three weeks ago, amid fears over the current economic crisis in the United States and across the globe. When the Federal Reserve announced this past week that they planned to keep rates low for the next two years, the idea of even lower mortgage rates was raised as well.

Where are the Rates Now?

As of the close of the week on Thursday, the Freddie Mac survey had a 30-year fixed-rate mortgage loan at just 4.02%, with borrowers paying points equal to about of 0.7% of the original loan amount. A different survey conducted by Credit Suisse found 30-year rates for the past week around 4.16%, with borrowers paying 1% of the loan amount in points. That figure is down from the 4.32% Credit Suisse reported last week.

Mortgage rates are traditionally tied closely to the rates on 10-year U.S. Treasury notes. On Wednesday, the Treasury note hit a low rate of 2.0%, before climbing to 2.03% by the end of the day on Thursday. Credit Suisse is predicting that the same Treasury notes could hit a new low by the end of the year. This drop in Treasury note rates is likely to drive mortgage rates even lower as well.

Treasury Note Spread Higher than Usual

Another interesting trend to note is the fact that the spread between Treasury note rates and home mortgage rates is at its widest level in the past year, with home rates higher than the Treasury note rates. This larger spread may be due to the volatility of the bond markets, according to some financial experts. The other reason might be that banks are cutting back on staff and charging slightly higher rates to keep their volume of work more manageable over the short term. That trend could change relatively quickly, as banks catch up and reduce rates once again.

Have questions about buying or selling a home in Atlanta? Give us a call at 404-842-1555 and speak to a qualified Realtor.

Wednesday, November 2, 2011

Atlanta Home Prices Holding Steady

While the Atlanta real estate market isn't quite ready to rebound, it certainly seems to be holding steady, according to a recent report in the Atlanta Journal-Constitution. The report cites Standard and Poor's Case-Shiller Home Price Index, which shows that house prices in the metro Atlanta area increased by one percent during the month of May.

Adjustments to the numbers to accommodate for a heavy buying period brought current prices within a couple tenths of a percent from where they were a month earlier. This data seems to indicate that home prices have bottomed out and now have nowhere to go but up in the future.

Hitting Rock Bottom, Nowhere to Go but Up

David M. Blitzer, chairman of the S&P index committee told the Journal-Constitution, "We have now seen two consecutive months of generally improving prices; however, we might have a long way to go before we see a real recovery." Blitzer believes home prices have spent the past two "bouncing along the bottom," waiting for a chance to rebound.

The Numerical Details

Data used by the Case-Shiller Home Price Index includes only the repeat sales of single-family homes; it does not offer information on the sale of new homes or condos. According to the information collected, Atlanta real estate was selling in 2011 at prices about 4.6 percent lower than in 2010. With plenty of homes on the market and prices continuing to be relatively low, now may be the right time to grab a piece of Atlanta real estate at a good price.