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Jonathan & Natalie Lee

Atlanta Real Estate News Update

March Newsletter (Preview)

Subject: Real Estate Advisor - March 2010
Real Estate Advisor: January

New Videos - On The Atlanta Real Estate Channel

In December 2009, Prudential Georgia Realty introduced the Atlanta Real Estate Channel - your source for LOCAL real estate news. We created this local video news channel to keep you informed on local market trends and insight that impacts our local real estate market.

Atlanta Real Estate Channel

The Cost Of Waiting

Many potential buyers may not realize the significant incentives that will be lost if they do not choose to purchase a property this spring. The combinations of lost tax credits plus the changes coming for FHA loans add up to real money.

  • For a First Time Home Buyer, the lost incentives range from $15,000 to $20,000!
  • For a Move-Up or Repeat Home Buyer, the lost incentives range from $13,500 to $18,750!

New Rules Coming From FHA

The Federal Housing Administration (FHA) Commissioner announced a set of policy changes to strengthen their capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities. The FHA will take the following steps:

  • Increase the mortgage insurance premium to 2.25% from the current 1.75%.
  • New borrowers will be required to have a FICO score of 580 to qualify for FHA's 3.5% down payment program. Borrowers with less than a 580 score will be required to pay a 10% down payment.
  • Seller contributions will be reduced from 6% to 3%.

These new policies will be effective in the spring of 2010. This all means that the buyers have a great opportunity to enjoy lower mortgage payments for purchases prior to these changes. The combination of the new policies, expected rises in mortgage rates and the expiration of the tax credits make RIGHT NOW a great time to buy real estate in metro Atlanta and north Georgia.

Contact Me For More Information.

Tax Credits Will Be Expiring

The extended $8,000 1st Time Home Buyers Tax Credit and the expanded $6,500 Move-up or Trade-in Tax Credit will be expiring on April 30th. Did you know that over 70% of buyers may be eligible for these tax credits? But contracts must be signed by April 30th 2010!

Spring Listing Market Is Coming Early

The spring and summer selling season for real estate is coming early this year. The tax credits, low mortgage rates and great selection of properties have buyers out earlier than in past years. Prudential Georgia Realty recently released the new version of our Advanced Property Marketing System. Designed for the current market conditions, this is simply the most effective property marketing solution available. The results speak for themselves. Since introducing this innovative methodology, our company has grown our listing market share more than any other brokerage in metro Atlanta and north Georgia. In fact, we ended 2009 as the #1 real estate marketing company for listings in our market. Realtor.com recognized our company as the first large brokerage in the nation to receive the prestigious Realtor.com Online Marketing Award of Excellence.

Contact Me For Details.

Prudential Georgia Realty #1 in Buyers for 2009

Trendgraphix reports that Prudential Georgia Realty represented more buyers in 2009 than any other brokerage in metro Atlanta and north Georgia. Our investments in online marketing, corporate relocation, international networks and the local networks of our 1200 agents brought more buyers to our market than any other real estate company.

Contact Me To Learn More.

Google Makes Big Changes

Did you know that real estate listings are on Google? Google recently made a major shift from Google Base (classified ads) to now display real estate listings on Google Maps. This is one of the thousands of online locations that we display our property listings. Google remains the 800-pound gorilla of the search business and this is important to understand for exposing your real estate listing.

Google also offers a free directory advertising service called GOOG 411. Just dial 1.800.466.4411 for FREE directory listings. No more $2 charges from your cell phone provider.

Google also recently announced a new service to offer movie rentals. Yes, the worlds of video and TV are merging. This is important to understand for real estate. The options for real estate searches are changing fast. Ask me about the latest options in rich media to bring the unique story of your property to life - online, in print and in person!

Thank You

I hope you found this newsletter informative. The real estate market is changing quickly. I have access to the latest market trends and detailed information that can make help you make better real estate decisions. We expect to see an "early spring selling season" driven by the new tax credits, great selection of properties, low prices and incredible mortgage rates.

If you are interested in buying, I can help you find the right property. There are many new details to consider when looking at the options today. This is especially true for short sales, builder foreclosures, bank-owned properties and auction properties.

Federal and State Tax Credit & Loan Program EXTENDED for Buyers

Federal Tax Credit Extended $8000 Federal Tax Credit for First Time Home Buyers - The United States Congress passed a new economic stimulus bill that was signed into law by President Obama on Friday, November 6, 2009. The law includes an extension of the $8000 Tax Credit for First Time Home Buyers (10% up to $8000) that was set to expire on December 1st, 2009. Contracts must be binding by April 30, 2010 and closed by June 30, 2010. Expanded $6500 Federal Tax Credit for Existing Homeowners - This new tax credit is intended for trade-in and move-up buyers. The $6,500 tax credit applies for buyers who have lived in their current residence for 5 of the past 8 years. Buyers must live in the new residence for 3 years to avoid repayment requirements. This tax credit becomes effective December 1st, 2009. Contracts must be binding by April 30, 2010 and closed by June 30, 2010. There is no requirement to sell your current property. The new property must become your primary residence. $14,000 Free Loan Program For Buying Foreclosures - The Georgia Department of Community Affairs also provides a $14,000 Free Loan Program with the Georgia Dream NSP program. This Neighborhood Stabilization Purchase program provides buyers of designated foreclosures a $14,000 secondary loan that is forgivable over time. Federal Energy Tax Credits - The Federal government also provides a significant list of Energy Tax Credits for the purchase of energy efficient products including windows & doors, HVAC, water heaters, hybrids cars and more. Sellers or buyers may now invest in items that provide both tax relief and long-term monthly savings as energy prices are expected to rise. This is great opportunity for homebuyers in Villa Rica. GA. There are unprecedented opportunities to buy great properties at fantastic prices. Mortgage rates are at historic lows and future value trends for Villa Rica real estate are very positive.

To view complete incentives and all homes for sale in Ga including Villa Rica real estate visit:

http://www.teamleehomes.com/prudential_ga/modules/agent/agent.asp?p=text&id=668

Take Care,

Jonathan Lee

Homes for Sale in Villa Rica,Ga-Foreclosures

Villa Rica, GA Real Estate Foreclosures:

Villa Rica, Georgia foreclosures are on the rise in 2009 and are projected to continue to steadily flow onto the homes for sale in Villa Rica, GA real estate market for the next couple of years. We are beginning to see a high number of foreclosure buyers in Villa Rica, GA that are competing for the same great foreclosure opportunities. With the $8000 Tax Credit for first time home buyers, they currently consist of a larger segment of buyers in Villa Rica, GA. With also an increased number of investors, the hot foreclosure deals go fast and even within the first couple hours. We are seeing bidding wars with multiple offers on many Villa Rica, GA foreclosures. Search Pre-foreclosure and Foreclosure homes for sale at http://www.teamleehomes.com/villa-rica-georgia-homes-foreclosures.aspx

Special Announcement for The Georgian Subdivision in Villa Rica, Ga,Homes For Sale

We are pleased to annouce that new homes construction plans for the Georgian Subdivision in Villa Rica, Ga are soon to resume and Natalie and myself are the new exclusive Agents for the subdivision!! Here are some details about the Georgian:

The Georgian-Villa Rica, Ga Homes For Sale, Villa Rica, Ga Real Estate

Bring the Family to this Master Planned Community located in Villa Rica, Ga. The Georgian amenities include a 13 Acre Amenity Park with a water park which includes a professional water slide, & a zero entry pool. The kids in the Georgian enjoy this feature and often the parents are seen plummeting down the water slide for entertainment as well. Additional amenities include about 8 lighted professional tennis courts, a second Olympic size pool by the Course, a full court basketball court, a sand volleyball court, an imagination station for the kids, a full playground which includes many features including sand boxes, slides, jungle gyms and even a pirate ship. The amenity areas in the Georgian also include paved walking and biking trails, park benches, a garden area for the garden club and even an amphitheatre for Spring & Summer movie nights. There are many social activities which include holiday events such as an Annual Easter egg hunt for the kids, fall festivities, etc. Also, in the Georgian, there are many clubs and events for adults including game nights, book clubs, exercise classes, TV show following clubs, the gardening club, knitting, bible studies and much more!

The Georgian in Villa Rica, Ga is well known in the community for its award winning The Frog Golf Course. The Frog golf course is a Tom Fazio designed golf course that has recently received a four and a half star rating from Golf Digest. Many tournaments and events have taken place there including the Georgia Open, Five Star Celebrity Classic, and a John Smoltz Celebrity Players Tournament. Even Michael Jordan has been seen playing on this pristine course.

View HOMES FOR SALE IN THE GEORGIAN: http://www.teamleehomes.com/the-georgian-villa-rica-homes-for-sale.aspx

Please contact Natalie or myself about the great new buying opportunities in the Georgian!

Thanks!

Jonathan & Natalie