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How Do You Feel About the New Socialized Housing Brought to You by Fannie, Freddie and Uncle Sam?

Author: Ryan Ward | September 8, 2008

It’s official! Housing is now run by our federal government - at least about 90% of it is. Out of the maelstrom of bad news, bad loans and bad decisions by homeowners and lenders, the federal government has determined that it is in all of our best interest that they determine what standards by which the vast majority of loans will be underwritten.

Uncle Sam now gets the final say in your approval process, what credit scores are appropriate, what assets and income will be required, etc…All of it. Initially it seems that the markets took this rather well and interest rates are down about a half of a point. But, what happens next year? There are promises that eventually and slowly Fannie and Freddie will be turned back over to the private sector.

When has the federal government ever turned back over something it has taken over?

Is there anyone out there that sees this as a long term positive solution to the problem? I for one am terrified of any idea by which the federal government has this much control over anything. Competitive forces are out the window and we all know what happens next. Prices go up and services go down.

Here are the nuts and bolts of what Freddie and Fannie do: Basically, they securitize loans. If you bought a bond from Fannie or Freddie, you essentially purchased several loans bundled together and earned a decent return on your investment. They made it safe to back a loan by securing lots of them so that if one fails, it’s only a small part of the larger pie and compensated for by having many more good loans.

I don’t know about you, but, the answer for me is quite clear. It is never a good idea for the government to be in control of anything like this. They are incapable of running and efficiently managing this or any type of business so that while the short term may bring an easing of fears, but, long term implications are far worse than any short term fix.

Category: News and Opinion | 13 Comments »

Sellers are Finally Capitulating, Bottom is Near

Author: Ryan Ward | September 8, 2008

Capitulation - The act of surrendering or giving up. Stark terms, I understand, but, it has been a fight. A fight in which sellers, be them individual homeowners or banks have been unwilling to accept the bleak reality that homes are overpriced for the current market conditions. In my estimation, this capitulation by sellers marks the real start of any turnaround we may hope for in the market.

In Atlanta, the market began to fall in the 4th quarter of 2006. Since then, sales volume has continued to slide and inventory has risen. We aren’t talking about rocket science here, just supply and demand. Supply is up AND demand is down. I won’t run through the laundry list of reasons, most have been beat into us for some time. The point is that no turnaround could possibly take place until sellers surrendered the idea that they could sell homes for higher prices than they could just a couple of years ago.

Few areas have been immune and even those that appear to have been immune suffer from skewed numbers due to sales of many new homes that make it appear that these areas have not been affected.

This does, however, mark a turning point because there is no way that the pendulum could begin to come back into balance until buyers felt that values were reasonable. Banks have dumped the prices on post-foreclosures and sellers who have been holding out are continuing to lower prices. This marks the beginning and signals to me that the bottom is nearing. Perhaps the spring market in 2009 we will begin to see a more balanced market.

Category: Atlanta Real Estate | 8 Comments »

Clayton County School Accreditation Loss Predictable, but Still Disgraceful

Author: Ryan Ward | August 28, 2008

I don’t really know what to say about this except  - what about the kids? For the first time in 40 years, a school system in the United States has lost it’s accreditation. For this loss of accreditation, 4 board members lost their jobs. Is that it? Are you kidding me? These are our children that we are talking about and their futures are at stake. A lot more than 4 of them I might add. The whole board should be immediately dissolved.

In an AJC article, School Superintendant John Thompson said “A storm came through and look at it now, the sun is shining, That’s what’s going to happen in Clayton County”. What? This is no time for rediculous metaphors and meaningless statements. It’s time for action. This is an embarassment to the children in those schools that this has happened.

I don’t give a damn about the school board. I do care about the 50,000 students in the school system. I feel sorry for them because this was outside of their control. Here is what SACS, the Southern Association of Colleges and Schools had to say taken from the previously linked AJC article:

“The main problem was that the school system did not have a functioning board, said Mark A. Elgart, president and chief executive officer of SACS. The board’s conflicts affected everything from teaching and learning to staffing and allocation of resources, accreditors said:

“It affected the entire school system,” Elgart said Thursday afternoon at a news conference. “Today, the students’ education in this particular district is being compromised.”

In March, the national Accreditation Commission, which governs SACS, ordered the school system to meet nine mandates or lose accreditation by Sept. 1.

The commission on Tuesday reviewed the school system’s progress and found only one mandate had been fully met, Elgart said.

“There’s positive intent in some cases, but there is no result in some cases,” Elgart said.

On Thursday, Perdue heeded the recommendation by Judge Michael Malihi, of the Office of State Administrative Hearings, and issued an executive order removing board members Michelle Strong, Louise Baines-Hunter, Yolanda Everett and Sandra Scott.”

I don’t live in Clayton County. I really don’t even sell real estate in Clayton County, but, Clayton County is part of Metro Atlanta and is an integral part of the Greater Atlanta community. This should unequivacally never happen to an American school system. It’s also a perfect example of why school choice should be an option for all students everywhere. With a failed school system, parents can’t sell their homes because noone will want to live there so once again the children are forgotten. This is shameful at best. With school choice, these schools would have been forced to become better.

Category: Atlanta Real Estate | 7 Comments »

We Need Your Vote! Please Watch the Video…

Author: Ryan Ward | August 26, 2008

Please take a moment of your time for this important video:

I can’t claim this as mine. I saw it on Cal Carter’s Blog. Cal sells Alabama Gulf Shore real estate so I want to make sure that I credit my source. However, I think my video is better than his. :-) You can see Cal’s original here.

Category: Atlanta Real Estate, Not About Work | 15 Comments »

Going Paperless in Real Estate - One Extremely Helpful Technique

Author: Ryan Ward | August 22, 2008

Some of you may already know how to do this and maybe I’m a little late to the parade, but, for anyone trying to figure out how to sign a PDF right from your computer, you may want to read on. No fancy tools needed here and no money to spend, this has to be one of the most helpful techniques coolest things I’ve figured out in some time. One side note here is that I believe you need to have Tablet PC on your laptop (I think).

What’s required:

So here is all that you need to do. Let’s say you have a contract that you need to send to a client at their computer, but, you either don’t have access to a printer and a fax machine or you just want to make sure that your contracts stay as clean as possible. The first step is to print your PDF to your computer using  Windows Journal. Next open your newly created Windows Journal file. This should look just like your PDF did. Scroll down to where you or your clients are supposed to sign and well, sign! All that’s left to do is to print that newly signed document back to your computer using PDFCreator. You can then email your signed document to the other broker. Rinse and repeat when needed. Your signature will look something like this:

I even did mine in blue ink :-)

To use OneNote, simply print to that instead of Windows Journal.

Category: Atlanta Real Estate, Marketing | 17 Comments »

Single Property Wesbites Give Sellers an Edge if Presented Well

Author: Ryan Ward | August 16, 2008

Many of you know that I am a fan of using single property websites as part of my overall marketing plan for listings. But, many agents don’t believe there is any merit to them or even if they do, they don’t know how to implement them in a way that has will help sell houses. Well, they do help and in some cases they can be the determining factor in getting a house to sell, but, if you think any website will do, you are mistaken. It takes a well thought out and well designed website for it to work properly. It also takes an agent who has the skills and ability to get that website found by buyers. Websites don’t magically appear in the search engines for buyers to find them. You need an agent who not only can create one as part of your larger marketing plan, but, will know how to use it effectively to market your home.

Take a look at the search results for this single property website that just sold one of my listings:

These are not all just related to the single home that we marketed, but, they are there as well. Since we know that buyers look for homes online, why would you list your home with someone who cannot market to the most targeted buyers? One more thing. This is the only home that sold in the entire neighborhood this year. The buyer only looked at this home after seeing the single property website because it was not - at least they thought - what they were looking for from an architectural perspective, but, after seeing everything on the single property website, they decided they would look at it anyway and now it is sold, to them.

Of course, nothing is magic and there is no one thing that can make a home sell with the exception of price, but, all things being equal, this is a difference maker. There is no reason to list your home with an agent who cannot demonstrate to you that they can out market other agents and if they can’t produce results on the internet that go above and beyond listing in the FMLS and GAMLS along with all of the waste of time websites known as aggregators like; trulia, realtor.com and the like, then they are offering you no real advantage and no added value to their proposition as your listing agent.

We all know how to spin real estate statistics to make us look like we shine, but if you have your house for sale, what you need is marketing. I can’t make it any more clear than that. We work hard for our sellers and it pays off. I apologize if this post sounds like I am tooting my own horn here, but, since I started writing about these single property websites, I have received quite a bit of email saying that it is a waste of time so if you are an agent that is looking for a competitive advantage, please look for results like this when considering amending your marketing and adding the latest and greatest that someone is trying to sell you. Utilize marketing tools that work and do some research before you pay someone big money for something. The single property websites that I use cost $8 dollars a year and they look like this one I use to market Sandy Springs homes for sale.

Category: Marketing | 12 Comments »

What You Can Get For 1 Million Dollars in Canton, GA?

Author: Ryan Ward | August 13, 2008

Actually, $999,000. How about a 6 bedroom, 6.5 bathroom 4 sided brick estate on 4 private acres with a pool? In some Intown Atlanta locations like, Buckhead and Sandy Springs (these are about the only places left to get 4 acres intown), this home would be closer to 3 million dollars.

This is not just a big home with land. The attention to detail and craftsmanship welcomes you through the front door. You won’t find ornate or gaudy trim and faux finishes in this home. Instead what you will find is simple, understated elegance and a very easy to live in floorplan that works equally well for a large family or for empty nesters that desire to get away from the rat race and enjoy life at home.

The backyard oasis includes a pool that is enclosed by a wrought iron fence so as to not impede the view while maintaing a higher level of security and safety. However, it certainly is not all pool - and you shouldn’t expect that it would be with 4 acres to work with. There are several ways to get to the pool; from the main level of the home, you can exit out through a sunroom, onto a deck and down to the pool and from the terrace level you can exit through either the finished recreation room, one of the three full kitchens with custom cabinets and granite counters, through a second full living room or perhaps the most appropriate way through to get to and from the pool which is through the full bathroom with seperate mens and womens changing rooms.

Speaking of the terrace level, you will be amazed with the space, functionality and useability. The full sized eat-in kitchen has custom cabinets, granite counters and bar area, the recreation room is large enough for 2 pool tables, the living room has a firelplace. There is also an exercise room, full bathroom and storage room.

While this home does have a first floor, second floor and a completely finished terrace level, the upstairs area has what is essentially a quiet sitting area and an oversized bonus room so if the space is not needed, the upstairs could easily be shut down improving the homes efficiency and saving on heating and cooling costs. When the holidays come around, there is more than enough room for out of town family to be quite comfortable with a space of their own.

The main living level is comprised of a gourmet, professional kitchen with custom glazed cabinets, large island and granite counters which looks into the living room, dining room and across into the sunroom which floods light into main living area. The living room features 20 foot high ceilings, a fireplace and a wall of windows. The owners suite is also located on the main level and features trey ceilings a fireplace, sitting area and large bathroom. On the opposite end of the home from the owners suite is a four car garage and complete in-law suite with another full kitchen and living room.

You can view more details of this home located at 555 Stover Road in Canton, Georgia on its own website, view more details, photos and map the property. If you are interested in taking a closer look, send me an email or call me at 404.630.3187 and I will be happy to schedule an appointment.

Category: Luxury Real Estate, Marketing | 11 Comments »

Atlanta Real Estate Market Statistics

Author: Ryan Ward | August 11, 2008

HmmHere is an update on the Atlanta real estate market statistics from January of 2007 through June of 2008. I had a reader email me and ask that I go back to the beginning of 2007 so we can see a little bit of a longer term picture of what is happening. I’m not sure how this plays out long term, but, there clearly has been an uptick on sold home prices over the last 2 months of complete sold data. Of course these are the summer months and market statistics are typically higher so it’s not earth shattering by any means and the trend line is still pointing in the negative direction.

However, this chart does lend credibility to something that I have been preaching for months - it just simply is not as bad as the media makes it out to be. Is it bad for sellers? Why yes, of course it’s not an easy market to sell a home in, but, it’s not as bad as it sounds on TV!

So you can see from this chart that we are still trending down and there are a number of factors that make it difficult to believe that this upward trend in values is likely to continue. One of the main reasons is the inventory of Atlanta homes which remains at an extremely high level. Below is a chart put together by Steve Palm of Smart Numbers, the company who performs the market analysis for the FMLS.

 

Please click on the chart to see a full size view

The other significant reason is the continued tightening of lending guidelines which has made it more difficult for buyers to obtain a loan. Combine the tighter standards with rising interest rates and affordability continues to go down.

There are however a couple of things that are, have been fairly constant in the market - especially here in Atlanta;

Atlanta homes and the real estate market is not in as bad of shape as the media portrays, but, from the many factors outlined above, it does appear, at least to me, that it will be next spring at the very earliest before we see enough forces on the market move in a more balanced direction.

Category: Atlanta Real Estate | 5 Comments »

I’m Looking for a Buyers Agent to Start Immediately

Author: Ryan Ward | August 7, 2008

I’ve tossed this idea around for a couple weeks now as to whether or not to post an “ad” on my blog seeking agents to join my group, but, I decided it was as good of a place to do it as any. I consider it a substantial success that in a time where real estate agents are leaving the business and it is very difficult for many to make ends meet, we have been able to foster an environment of growth at a tremendous level. Some experience is required and you should be comfortable using technology. As one of Atlanta’s leading innovators in internet marketing for real estate, you will be well positioned to work with buyers in today’s market. Please call me at 404.630.3187 or send me an email if you are interested.

Update 8/11/08:

I’m actually going to be hiring at least 2 agents immediately and this will likely increase by another 2 within 30 days. I have had several calls and a couple of emails and I have not made a decision as you yet.

Category: Marketing | 13 Comments »

iPhone For WordPress

Author: Ryan Ward | August 6, 2008

This will just be a quick test post from my iPhone to see how a post would look without being able to really preview it.
Actually, it looks pretty good. This is a sign for a new listing in Canton we just got and the sign is going in later today. List price will be $999,000. More about this home later from a real keyboard. For now, this is a 6 bedroom, 6.5 bathroom home on 4 acres.

We will be doing an intensive online marketing campaign which will incorporate video as well as all of the other technologies we use to provide our clients with more exposure than they could otherwise achieve without us.

For now, it’s off to a closing and then out to shoot photos to upload to the single property website, Canton Luxury Homes.

Much more about this listing and marketing later.

Category: Marketing | 4 Comments »

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