By: Christine Macrenaris
I’m catching up on e-mail after a nice long week vacation and an article regarding low interest rates stops me in my tracks. According to Inman News, mortgage rates have hit historical lows since 1971.
Rates for 15-year fixed-rate mortgages are 4.04 percent for those of you thinking of refinancing! For all of the sales agents out there, this information is key to helping you show the affordability of home ownership. With developers offering significant price reductions and with the right financing – now is the time to buy.
Categories: Interest Rates · Value of a home
By: Christine Macrenaris
Even though the Federal Housing Tax Credit program is a distant memory, there are still many opportunities for buyers to take advantage of in this marketplace. There are several new construction town home and condominium projects with a handful of homes remaining in their inventory, and developers are offering amazing deals in order to closeout these projects.
For instance, Grinnell, located in Inman Park, has a 2-bedroom/2-bath home discounted by $69,000. Just up the road, LaVista Walk has just 2 remaining townhomes with amazing price discounts. Kirkwood Station, located in the historic Kirkwood area, has only a few townhomes remaining that start from $249,900. For a buyer who wants to be in the heart of Decatur, The Artisan has 4 remaining 3-bedroom condos with close out pricing up to $160,000 off original pricing. And the deals are not limited to inside the perimeter area. Highgate at Sandy Springs have 3-bedroom homes available starting from $119,900!
Now is the time to take advantage of developers who are in the position to close out their remaining inventory and offer amazing values, as these prices may not last. This week’s Atlanta Journal-Constitution article, “Home prices, sales continue to rise,” reported that both the median sale price and the number of homes sold increased in Atlanta in May from the month before and the year before.
Categories: Tax credit · Value of a home
Congratulations to our very own Collin Ellingson for his participation in the Aids Vaccine 200 Ride. This is the first year Collin participated in the AV200, a 200-mile bike ride through the Georgia countryside over a 2-day period. The race starts at Emory School of Medicine, traveling the tough 100 miles to Rock Eagle Campground and returning to Emory the next day.
Collin Ellingson racing over the finish line!
Building awareness and raising money to finding a cure for HIV/AIDS is 100-fold harder than the back-to-back centuries these riders take on, both with challenges of their own. Out of 150 cyclists who participated, Collin was among the top ten fundraisers for this year’s ride, raising $5,000! Because the event is fully subsidized through sponsors and volunteers, 100% of all funds raised go to the Emory Vaccine Center, which is at the forefront of AIDS vaccine research.
This is just one of the many ways that NRT Development Advisors’ executives give back to our community. To view photos and learn more about this great cause, visit at the AV200 site.
Categories: Company news · NRT Development Advisors
By: Christine Macrenaris
NRT Development Advisors’ Real Estate Tweetups (#atlre) always attract such a lively crowd! We enjoyed engaging conversation and tasty libations at last week’s Tweetup, held at the Loews Atlanta Hotel’s Bar Eleven. Click here to view photos from last week’s event.
The Tweetups will pick back up after the summer, and we will share event details then. In the meantime, let us know which locations you recommend for future Tweetups by leaving a comment. We try to rotate the location (they’ve been held in Midtown’s Loews Atlanta Hotel, Buckhead’s Cantina Taqueria & Tequila Bar and West Midtown’s Ormbsy’s in the past) to make them convenient to all who are interested in attending.
Categories: Event
By: Christine Macrenaris
April 30th … Tax credit deadline. I am not writing today with answers or insights, I have questions.
The big question on my mind: What will traffic and sales look like post April 30th? At 3 sites (White Provision, 1010 Midtown and Villa Sonoma), we’ve written more than 35 contracts in the frenzy of first time homebuyers getting in under the deadline. These contracts were written in a 20-day period since April 10th. The good news is that 35 closings will take place before the June 30th deadline!
The real estate market has reinvented itself multiple times over the past 18months, and I can’t wait to see what the new form takes on starting tomorrow! Per Brad Horner’s blog post today, recent news indicates that positive changes are coming.
Categories: Tax credit · Uncategorized
By: Christine Macrenaris
Professionals in just about every industry know the marketing buzz words for the past year have been “Social Media” and how important it is to participate in order to help sell product, in our case our residential properties. We have diligently incorporated Facebook marketing into our campaigns and trained our agents on how to use Facebook and other social media channels in order to network and build their pipeline.
But has Social Media really moved the needle? I have to be honest that I’ve been a skeptic, but I’m writing today as a new believer. Here are a few reasons why:
- After reviewing the data, it’s clear that maintaining an active Facebook program actually improves organic search results. In fact, many businesses use Facebook as a second Web site for the company, as savvy marketers can employ the same SEO tactics within a company’s Facebook page as they would within a company Web site. According to National Association of Realtors, 84% of buyers use the internet to search for a home. If Facebook improves your chances of serving your product first, and it is free, I’m making sure it is a number one priority.
- What I’m really excited about is recently learning that Twitter is actually not a useless, self indulgent tool to let people know you are eating lunch or just bought a pair of shoes. Has everyone heard of a Tweetup? Apparently it is all the rage, but I’ve been in my bubble and had no clue. Basically a Tweetup is an event at which people with a common interest come together.
For example, 1010 Midtown hosted a Tweetup last week. More than 100 people attended the event, but what is incredible to me is that these 100 people actually reached more than 25,000 people when you consider each attendee’s list of followers. Photos of the sunset and comments about the homes’ affordability were posted, which was priceless. Check out the unsolicited press we received from the AJC based on their attendance at the event. The event was not a hard sell, but the product itself motivated the discussion!
I can’t wait until I plan the next Tweetup. If you were like me and had no idea about this networking tool, you can follow this link to learn more about organizing a Tweetup. Also, click the below screen shot to read the “chatter” from the 1010 Midtown event.
Categories: social media
By: Christine Macrenaris
Down economy, job loss, home value depreciation…enough is enough! The vein of our existence for the past 18 months has been focused on negativity. It was refreshing to meet with peers from all aspects of the real estate industry at the first Real Estate Round Up last night at Ormbys’s. A new energy was in the air and a true collaboration of ideas took place. We are all in this together, and instead of focusing on what is not working we all recognized last night how much more productive it is to band together to forge positive change for our industry! We received quite a bit of interest for future Real Estate Round Ups, so we’re in the midst of planning another in the coming month(s) and possibly in a different part of town. Where would you like them to be held?
Categories: Sales and Marketing · sales agent · social media
Tagged: Sales and Marketing
By: Christine Macrenaris
The ongoing discussion whether or not the government will provide an extension for the homebuyer Tax Credit is finally put to rest! The President signed the bill into law today that extends homebuyers and unemployment benefits. While the first Tax Credit program of 2009 focused on first time buyers, the addition of the repeat buyers will free up the middle market by allowing homeowners to sell to first time buyers and allow these buyers to “move-up”. Finally there is an answer for buyers who continue to ask “what’s in it for me?” Below are highlights of how the homebuyer tax credit will work:
- Tax credit: Ten percent of the purchase price of a primary residence, up to a maximum of $8,000 for first-time homebuyers and $6,500 for repeat buyers who purchase between December 1, 2009 and May 1, 2010. First-time homebuyers are defined as people who have not owned a home in the previous three years. Repeat buyers must have owned their current home at least five years. The credit cannot be used for houses costing more than $800,000.
- Deadline for qualifying: Purchase agreements must be signed by April 30, 2010, and closings must be final by June 30.
- Military deadline: The deadline is extended by a year for members of the military who have served outside the U.S. for at least 90 days from Jan. 1, 2009, to May 1, 2010.
- Income limits: Individuals with annual incomes up to $125,000 and joint filers with incomes up to $225,000 qualify for the full credit. Individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 qualify for reduced credits.
- How to apply: Taxpayers can claim the credit on their federal income tax returns. If the credit exceeds their tax bill, the government will issue a payment. Taxpayers who want immediate refunds can amend their tax returns for 2008 to claim the credit.
- New anti-fraud limitations imposed.
- Cost: $10.8 billion.
Source: Bloomberg Press and Associated Press and confirmed information with the content of the Senate bill
Categories: First-time homebuyer · Sales and Marketing
Tagged: First-time homebuyer, Sales and Marketing
By: Christine Macrenaris
And they are online! I wanted to share an interesting insert in last month’s WIRED called “Balance Your Media Diet.” The chart shows the average American spends roughly nine hours hooked up to some type of screen (click here to see how you compare). Nine hours, people! What did we all use to do before e-mail and internet?
This stat goes to show you to keep up your online and social media strategy! You’ll find your buyer if you craft the right message and target the right outlet. Let’s all go fishing!
Categories: Uncategorized
Leslie Williamson
Christine Macrenaris
Maria Mena
Jessica Weston
Amber Cooley
Brad Horner
Collin Ellingson
Bob Romano
Alec String
Judy Price
Meril Missbach
Marty Griffin
Lenny Rindsberg
joanhertz
Holly Rabits
Nancy Keszthelyi