For 2011, short sales accounted for about 8 percent of total home sales, and rose 7 percent over 2010 totals, according to CoreLogic data.

The Southeast corner of Decatur is home to the Winnona Park neighborhood. This community is bordered by Agnes Scott College, Columbia Theological Seminary, The Waldorf School, and Dearborn Park, as well as neighborhood pubs, charming restaurants and retail stores.Entertaining downtown Decatur–Winnona Park is only a short walk to many  areas of interest in downtown Decatur, yet it holds big and small treasures of its own: The Fulton House, the oldest original home in Decatur; Shoal Creek, which winds from one end of Winnona Park to the other; and the precious student-created butterfly garden and fish pond at our centrally located elementary school.

Our neighborhood is also home to a diverse group of people who represent different backgrounds, age groups, countries, creeds, lifestyles, and opinions. When we come together, we form a community of neighbors who play together, learn from each other, and work side-by-side to make a great Decatur neighborhood an even better place to live.

Good Afternoon;
I hope you had a fantastic week and embracing yourself for a damp weekend!
 
Here are a few tidbits of news this week.
 
1)     NAR: Atlanta home sale prices up in January
Atlanta JC “ 2-24-11 – Metro Atlanta™s housing market got off to a good start this year, according to local experts and the National Association of Realtors.
 
According to data released Wednesday, the sale price of single-family existing homes rose nearly 2 percent in January 2011, compared with the same month a year before. Sales fell 6.3 percent over the same period, the data shows. Nationally prices fell nearly 3 percent and sales were up 3.3 percent.
This marks the first time since August the metro area has seen an increase in year-over-year prices. It is also the first time in well over a year that metro Atlanta has beaten the national statistics and tracked ahead of the other major metro areas surveyed. Link to AJC article
 
 
 
 
2)     Rates aren™t going to stay low forever
Here™s a visual chart showing how rates were impacted by the Fed™s stimulus pressure. Recently rates have begun to rise, as the government takes steps to reduce its 95% share of backing mortgages.
 
WHAT DOES THIS MEAN TO YOU: Buyers can still lock in historical low, long-term 30-year fixed rates below 5.0%. For now.
 
 
 
Little Change in Rates While investors continued to closely watch the events in the Middle East, there were few new developments there during the week. As a result, this week’s important economic data had the greatest influence on mortgage rates. Daily volatility was high as investors reacted to the major economic reports, but mortgage rates ended the week essentially unchanged.
Much stronger than expected economic data during the week caused investors to prepare for the possibility that the economy is growing more rapidly than expected. The Chicago PMI manufacturing index rose to the highest level since July 1988, and the ISM Services index rose to the highest level since August 2005. Weekly Jobless Claims dropped to the lowest level since May 2008. Meanwhile, the Fed’s Beige Book reported that many companies were passing through price increases due to rising commodity prices. As expected, mortgage rates reacted to the data by moving higher.
The results from Friday’s Employment report were strong, but they did not exceed expectations. Against a consensus forecast for an increase of 200K jobs, the economy added 192K jobs in February. The Unemployment Rate declined to 8.9% from 9.0% in January. The gains were strong nearly across the board, with the exception of the government sector. Over the longer-term, the private sector must produce new jobs to sustain a recovery, so strength in the private sector was a good sign for the future. Average Hourly Earnings, a proxy for wage growth, fell short of expectations, remaining unchanged from January. Some investors were prepared for a much higher jobs number, and the on target results prompted a reversal of the rise in mortgage rates from earlier in the week.
 
3)     Survey: Home sellers regret going it alone
UPI – Homeowners who used a real estate professional to sell their homes reported a 50 percent better closing rate than those who went it alone, according to a new consumer survey by HomeGain.

59 percent of home owners that used a real estate professional to sell their home were successful vs. 39 percent of for-sale-by-owners, reflecting a 50 percent higher closing rate for those home sellers using a professional. 81 percent of homeowners that used a professional to try and sell their homes said they would use a professional again for their real estate needs.

HomeGain found that 17 percent of potential sellers would try to sell their homes on their own, a significantly higher number than the 9 percent market share for FSBOs reported in the National Association of Realtors’ 2010 Profile of Home Buyers and Sellers.

HomeGain found that 24 percent of FSBO sellers eventually enlisted the aid of a real estate professional to help sell their homes. Only 71 percent of FSBO sellers who managed to sell their homes on their own said they would try and sell their home on their own again.

“It is especially striking that homeowners fare significantly better in selling their homes using a real estate professional than selling on their own.” said Louis Cammarosano, General Manager of HomeGain. “Due to that relative success, the level of satisfaction in the home selling process is also higher for home sellers utilizing the services of a REALTOR ® than those who try to sell their homes on their own.”

Have a Great Weekend!

Connie Childers

Welcome to Connie Childers’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Atlanta. Visit my website at http://CONCHI.featuredwebsite.com.