Market Begins Stabilizing As Unit Sales Levels With 2008!

Hey Peachtree City….Following a month that saw the first year-over-year improvement in four years, August results in the REAL Trends Housing Market Report were level with August 2008.  While these results were not as good as the July results-where unit sales had been up marginally-it does show that the floor of housing unit sales may have been reached.  Nationally, unit sales were down 0.2% in August 2009 over August 2008. The Western region again showed the greatest strength with unit sales up 7% while the South region lagged other regions with unit sales down 3.3%.  On the pricing front, the South showed the best results with average prices for all homes sold down 9.5% while the Western region continued to suffer the largest price declines with a decrease of 18.2%.
 
Unit and price declines were mixed across the regions.  The Northeast region was down 1.5% in units a significant improvement over the prior months while the Midwest and South were down 2% and 3.3% respectively. The Midwest region saw average prices decline 10.4% while the Northeast was down 10.7%.
 
“The August 2009 results were not as good as July’s but were not off by much.  What we are seeing is evidence of a bottoming out in unit sales on a year over year comparison with prices continuing to decline from the year ago period.  The good news is that price declines do not appear to be accelerating but are staying similar on a month to month basis,” said Steve Murray, editor of REAL Trends.  
 
“With the economy continuing to shed jobs and incomes shrinking, this is likely the best result we can expect-that housing sales on a unit basis are flattening out and that price declines are at least not getting any worse for the moment.  While we know that there are substantial challenges ahead, with a predicted rise in foreclosures and continued downward pressure on prices as a result, it would appear that we are closer to the floor of this recession in housing than we have been at any time in the last four years.” 
 
 
Housing Market Report 
 
August 2009                        July 2009                      
(Versus same month a year ago)
 
Closed Sales   AVG Price      Closed Sales   AVG Price
 
National                     
-0.2%                 -12.1%              +2.8%             -10.4%
 
Regional Report
 
Northeast
-1.6%                 -10.7%              -1.2%              -13.9%
 
South   
-3.3%                   -9.5%              -1.7%               -8.7%
 
Midwest
-2.0%                  -10.4%             +3.7%             -10.9%
 
West
+7.0%                 -18.2%            +12.3%            -11.3%

New normal for home sales: Buyers have the power!!

Hey Peachtree City…Believe it or not, the American dream of homeownership is still attainable. Buyers just have to deal with a new set of realities.

A year after the collapse of the housing market triggered the financial meltdown, lenders are demanding more money up front, high credit scores and proof of income. Paperwork must be in perfect order. Patience and persistence are required. And don’t even bother asking about a subprime mortgage.

It’s a vastly different set of rules from earlier this decade, when home prices soared and mortgages were easy to come by.

Governor Purdue Eases Outdoor Water Restriction Usage!!

Can you believe all this heat Peachtree City!!!  By the way, how is your landscaping looking around your homes and businesses these days?  Well even in the mist of these 90 degree scorchers, Governor Purdue recently announced that due to significant rainfall and improved water supplies the Georgia Environmental Protection Division (EPD) has issued a non-drought schedule for outdoor water use for the first time since June 2006. 

“Georgians have seen the most severe drought on record, and have proven their ability to conserve and manage our state’s most precious resource,” said Governor Purdue “We have become more educated about water conservation and have taken significant steps towards ensuring a long term solution.  I believe Georgians will continue to use our water resources wisely under this new outdoor watering schedule.”

Federal, State Partners Announce Multi-Agency Crackdown Targeting Foreclosure Rescue Scams, Loan Modification Fraud!

Hey Peachtree City have you recently been victim to a barrage of phone calls, mail and email solicitation from folks targeting you to either Refi or modify your mortgage.  Well, before you engage any firm please beware that there are unscrupulous companies out there looking to prey on their next victim….hopefully it won’t be you!  So before you act, here is some information that may prove helpful!  

As homeowners and communities throughout the country continue to face devastating consequences from the deep contraction in the economy and the housing market, the Obama Administration announced a new coordinated effort across federal and state government and the private sector to target mortgage loan modification fraud and foreclosure rescue scams that threaten to hurt American homeowners and prevent them from getting the help they need during these challenging times. 

Peachtree City named “Best Affordable Suburb” in Georgia

 

In March, BusinessWeek Magazine named Peachtree City as Georgia’s Best Affordable Suburb. The selection notes Peachtree City’s lakes and recreation amenities, along with its 90-mile network of multi-use paths and golf carts.

In choosing the best in each state, BusinessWeek focused on towns within 25 miles of each state’s largest city, featuring good schools, low crime, reasonable commutes, strong economies, and overall quality of life.

The magazine evaluated comomunities on a variety of factors but weighted affordability most heavily. None of the places had populations of more than 60,000 or less than 5,000.

How Does The American Recovery & Reinvestment Act Affect You!

Just in case you had not heard..The American Recovery & Reinvestment Act is a massive $787 billion economic recovery package that dedicates about two-thirds to new government spending and the rest to tax cuts.  In order for existing public services to continue in the mist of this economic crisis, it is one the top priorities of the Obama Administration. The goal of this stimulus bill is to infuse money directly into the economy in the hope of bringing the nation out of recession, while creating 3 million to 4 million jobs.

Can The New Home-Buyer Tax Credit Stimulate You To Buy Now?

 

 

Hey Peachtree City here are 4 ways to help stimulus new homeownership!
 
A refundable first-time homebuyer tax credit of up to $8,000 is the centerpiece of four housing incentives found in the 2009 American Recovery and Reinvestment Act. Experts predict homebuyers will purchase an additional 300,000 homes in 2009 as a result of the tax credit.  The impact will likely not be felt for at least 3 or 4 months, because it generally takes buyers that long to qualify for a mortgage and search for a home.

Downpayment Assistance Reform: Groundswell2 - Nehemiah Corporation of America

‘Twas the Night Before Christmas…Politically Correct!

Well Peachtree City, the Holidays are upon us once again!  As I began to write about the holiday I wanted to hone in on how we have to be so politically correct about everything nowadays.    

For instance Christmas is a legal holiday and was made a legal holiday in order to celebrate the birth of Christ.  It is now, however, politically incorrect to say Merry Christmas because you might insult non Christians and atheists.  We are told that the correct greeting is now Happy Holidays.  Stores now advertise and sell….Holiday gifts!  They wish us Happy Holidays and play Holiday music that does not mention Christmas, Christ or God.  It doesn’t matter that they are insulting Christians, because Christians, by nature of their beliefs, are forgiving. 

Starr’s Mill Senior Publishes Debut Novel - Book signing at Books-a-Million on 12/21/2008!

The summer before her freshman year at Starr’s Mill, Becca Ritchie, now a senior, was ready to write her first novel. She had written a story before, proving that she could write something of length, but she was ready to write something that she and her twin sister, Krista, would like to read.

It would be a young adult novel with supernatural elements, the kind of things they saw on television programs like “Charmed” and “Angel,” and read about in books by authors like Kevin Brooks. Ritchie sat before her computer for hours at a time that summer, with her sister reading over her shoulder and constantly wanting to know what would happen next.

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