Atlanta GA Real Estate and Community News

April 2, 2018

Sellers: The Atlanta Market Is in Your Favor

What do buyers and sellers need to know about today’s real estate market? Let’s take a look at the latest statistics from our Atlanta market.

Selling your home? Get a home valuation.

Buying a home? Search the local MLS.

One of the most common questions people ask me is, “How’s the market?”

To tell the truth, this answer really depends on whether you’re a buyer or seller. Right now, we are in an extreme seller’s market. 

What this means is that we currently have less than six months of inventory. As you may already know, inventory is what determines whether we’re in a buyer’s market or a seller’s market. 

We have about 2.7 months of inventory available on our market today. This means that if no more homes came on the market in that amount of time, we would run out of listings.

"Buyers today need to know what they want and strike while the iron is hot."

We had about 11,000 homes on the market in February of last year, and now we have about 9,800. So, inventory has definitely decreased, and the law of supply and demand is what truly drives our market. As supply goes down, demand goes up. 

Back in 2009, during the height of the buyer’s market, there were 3,100 homes available. Now, we’ve got less than a third of that supply, making it harder for buyers to win. 

Nevertheless, buyers can still get a great deal if they use the right strategy. Buyers need to know what they want and strike while the iron is hot. My team and I would love to help you with your home sale or home purchase needs.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Posted in Real Estate News
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March 27, 2018

Atlanta Homebuyers: Take Advantage of This Amazing Loan Product

 

Today I want to tell you about a great, Atlanta-exclusive loan product.

Selling your home? Get a home valuation.

Buying a home? Search the local MLS.

 

Today I want to talk to you about a great 100% financing loan option. This program is exclusive to Atlanta and allows you to purchase a home for up to $400,000.

 

So, how do you qualify? First of all, you must have a credit score of at least 620. You also must be purchasing a home within a low-to-moderate census tract. This doesn’t mean you’ll be purchasing a home in a bad part of town. It just means that you will be purchasing in an area like East Atlanta or the West End.

 

If you were to purchase a $300,000 home in these areas with a conventional loan, your down payment would be $30,000. With this loan product, the minimum initial payment is $500. There is the matter of earnest money, but this can be credited back to you at closing.

 

Additionally, this loan product does not require private mortgage insurance (or PMI). Ordinarily, PMI is required when a buyer makes a down payment of less than 20%. Skipping out on PMI will save you anywhere from $100 to $300 per month.

 

You can reference the video above to see a few examples of homes that qualify for this Atlanta-exclusive loan program.

 

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Posted in Buying a Home
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Feb. 23, 2018

5 Tips for Buying New Construction Homes in Our Market

I have five tips to share for any homebuyer looking to buy a new construction home in our Atlanta metro market.

Selling your home? Get a home valuation.

Buying a home? Search the local MLS.

Any homebuyer looking to buy a new construction home in our Atlanta metro market should follow these five specific tips:

1. Not every home will be on the MLS. Builders don’t always put their properties on the MLS the way a normal seller would in a traditional home sale. Many times, they’ll have an on-site sales agent and their own in-house sales staff. With that, they’ll use other channels to market their property. 

2. New construction homes can be sold before they’re even built. Many times, a new construction builder will put together all of their financing and create a sales process and a construction process and start marketing and selling their home before it’s even built. In other words, they’re selling dirt on a plot of land and the buyer will be looking at plans and specs and be buying based off of that. 

3. First buyers typically get the best discounts. When you’re one of the first to visit a new construction neighborhood where nobody else has purchased yet, you’ll typically get the discount. These discounts might be more incentive-based or upgrade-based instead of a direct price reduction, though. In addition to the best discount, you’ll also get the best appreciation. You’re starting at the bottom, and price increases typically happen in a staggered fashion, so you’ll have the most appreciation and the most equity.

4. Builders don’t have any attachment to the property. For them, unlike traditional sellers, it’s strictly a numbers game. They’re looking at spreadsheets instead of sentiment. They want to make sure you qualify for the home, and they price that home based on the available inventory. This means you may have little room in terms of negotiation. 

5. If you get a discount, it will probably be in the form of some sort of upgrade. New home builders typically don’t reduce their prices. Why? If they reduce the price of your home and it closes, everybody is happy except the new homebuyers behind you. Now that your sale is public record, appraisers will use that lower price point to evaluate the rest of the neighborhood. Builders want to bring the value of a neighborhood up, not down. If you do get an upgrade discount, it will probably come at the end of the sale because the builder is sitting on more inventory that they want to sell. If properties are moving, though, you shouldn’t expect to get a discount. 

If you have any more questions about buying new construction or you have any other real estate needs, don’t hesitate to reach out to me. I’d be glad to help you.

Posted in Buying a Home
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Jan. 19, 2018

Breathing Life Back into an Unsuccessful Listing

Selling your home? Get a home valuation. | Buying a home? Search the local MLS.

 

Today I’m bringing you a look at a listing my team and I took over after it failed to sell with another company. Before we got our hands on this property, it had sat on the market unsuccessfully for 180 days. In just a quarter of the time it was on the market with the previous company, my team and I were able to find this home a buyer. So, how did we achieve this? Watch this short video to find out. 

Posted in Selling Your Home
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Jan. 11, 2018

FHA Loan Credit Requirements You Should Know

Selling your home? Get a home valuation. | Buying a home? Search the local MLS.

 

Today we're talking about credit. More specifically, we’re talking about the minimum credit score requirement for an FHA loan. The reason we’re focusing on the FHA loan here is that it has the lowest barrier to entry for buyers.

FHA stands for the Federal Housing Administration. They are the ones that come out with all the different guidelines and rules. The FHA-approved lenders are the ones who enforce these rules. FHA-approved lenders typically require a 580 minimum credit score. If you’re below that, you may still be able to qualify, albeit with a 10% minimum down payment. However, hitting that 580 market will ensure that you can get a loan with a 3.5% down payment. 

 "Set aside money for closing costs."

When you’re getting ready to buy a home, it’s a good idea to set aside some money for closing costs. There was a time when I could tell my clients that we could get their closing costs covered by the seller, but we’re not in that kind of market anymore. The market is so tight now and homes are moving so quickly, by the time we submit an offer on a property there will most likely be other offers to compete against. That means that we have to make sure your offer is as attractive as possible.

If you’re not quite at that 580 credit score, you should consult with a mortgage professional so we can make sure you qualify for a home. Also, remember to keep some money set aside for your closing costs. I’d be setting you up for failure if I told you there weren’t going to be any.

If you have any questions for me, don’t hesitate to reach out and give me a call or send me an email. I’d be happy to answer any questions you may have.

 

Posted in Buying a Home
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Dec. 29, 2017

Wishing You the Best in 2018

Selling your home? Get a home valuation. | Buying a home? Search the local MLS.

 

I wanted to make sure and send you all a message of gratitude before the year is over. I’m so grateful for the opportunity to serve each and every one of you. We had a great year in 2017, but I’m even more excited for what the new year has to bring. Now that I’m raising a mini-celebrity in the form of my daughter, I’m excited to be able to help even more people next year than I did this year. To see my full year-end message of thanks, watch this short video.

Posted in Community News
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Nov. 9, 2017

Help Make Our 1st Annual Thanksgiving Pie Giveaway One to Remember

RSVP

 

With Thanksgiving fast approaching, we wanted to thank you for your business and your support by having our first annual pie giveaway. 

On November 20 and 21, you’ll have the opportunity to come to our office and receive either an apple or a pumpkin pie. All that we ask is that you RSVP beforehand by emailing me at pazi@pazirealestate.com. 

We appreciate the opportunity to serve all of your real estate needs. Come on out, have some pie on us, and say hello.

If you have any questions in the meantime, don’t hesitate to reach out to me. I look forward to hearing from you soon!

 

Posted in Videos
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Oct. 26, 2017

Can You Qualify for 100% Financing?

Selling your home? Get a home valuation. | Buying a home? Search the local MLS.

 

Today I want to follow up on the information I recently shared with you about a 100% financing option.

Unlike down payment assistance, this option allows buyers to forgo a down payment altogether. However, this particular program is a little bit exclusive. 

That’s why I want to share an alternative option that is a little more inclusive. This is a great option for anyone looking for assistance in affording their next home. The last one had a credit score requirement of 636, while this new program only requires your score to be at least 620.  

 "This is a great option for anyone looking for assistance in affording their next home."

So long as your score is at least 620, you can get a conventional loan with no down payment and no private mortgage insurance. Many people opt for FHA loans, but that loan type actually means you cannot get rid of your private mortgage insurance, which will cost you a couple hundred extra per month.

Another stipulation for the program I’m offering today is that you must earn less than $55,000 a year. If you earn more, you’re going to need a slightly higher credit score.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon. 

 

 

 

 

 

Posted in Buying a Home
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Oct. 13, 2017

You Won’t Believe What’s Possible With Our New Loan Program

Selling your home? Get a home valuation. | Buying a home? Search the local MLS.

 

I’m proud to announce that we just rolled out a brand-new loan program that offers 100% financing. That’s right—you don’t have to put down a down payment. 

There are some stipulations to this program, but it’s not like most other down payment assistance programs because it doesn’t have an income cap—you don’t have to only earn a certain amount of money to qualify for it. With this program, if the property qualifies, you qualify. All you need is a 636 credit score or higher. 

 "With this program, if the property qualifies, you qualify."

Also beneficial is the fact that it’s a conventional loan product, which eliminates your upfront mortgage insurance premium and your monthly mortgage insurance premium (which you can find on any FHA loan). 

I’m trying to get anybody I can who qualifies for this program to submit an application for it, so if you’re interested in doing so, don’t hesitate to reach out to me. If you have any other questions about our Atlanta market, give me a call or shoot me an email. I’d be glad to help you.  

 

 

 

 

Posted in Buying a Home
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Sept. 22, 2017

Red Relief—Helping Those Impacted by Harvey and Irma

Selling your home? Get a home valuation. | Buying a home? Search the local MLS.

 

Keller Williams is here to help those impacted by Hurricane Harvey and Hurricane Irma.

When it comes to Keller Williams, family is everything. 

Our Red Relief program is dedicated to providing disaster relief to every family impacted by these storms. 

Hundreds of Keller Williams agents have gone to Texas to help those in Corpus Christi, Houston, Beaumont, and more. More agents are on their way to help families in the path of Hurricane Irma in Florida. 

So far, we have seen a tremendous outpouring of love from our volunteers and donors. Rebuilding these areas is going to take more than a couple of weeks, so it’s important that we keep the energy going in the coming months as we help people get back to their normal lives. 

"Help us provide disaster relief to those impacted by Irma and Harvey."

As we work to rebuild these areas, we could use your help.

Please consider donating to our Red Relief program. Your contributions will help us supply food, water, clothing, and building supplies to these communities. 

If you have any questions about KW Cares, the Red Relief program, and our ongoing disaster relief efforts, please don’t hesitate to reach out to us. We appreciate your support as we work to help others through this difficult time. 

 

Posted in Community News
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