Obama’s  loan modification program – Good or Bad?   You decide:  

“WASHINGTON (AP) — Some homeowners who sign up for the government’s mortgage assistance program are getting a nasty surprise: Lower credit scores.

For borrowers who are making their payments on time but are on the verge of default, the Obama administration’s loan modification program can reduce their credit score as much as 100 points. That makes it harder to get a loan and can present a problem when applying for a new job.”   Read More

Source:   http://finance.yahoo.com/news/Credit-scores-can-drop-after-apf-1601705094.html?x=0

Just some facts about our current real estate market to think about as we head into the new year. The outlook isn™t as bad as the news would have you believe¦.

1. 76 million households own their own homes, 30% of those households have NO mortgage, there are 62 million homes with a mortgage, 97.2% of those are NOT in foreclosure, 93.8% are current with their mortgage and 40% of all foreclosures are non-owner occupied homes.

2. We are in a recession and have been since last Dec.  Most recessions are followed by long  periods of prosperity; the good news is most global recessions last 15-18 months and we have 12 months already under our belts.

3. Supply and demand, new construction has all but stopped!  Three years from now there will be a housing shortage nationally because it will take that long for builders to get going again.

Jan. 2008 11.4 months of inventory, Today 9.9 months of inventory.  6 months of inventory is considered a balanced market

4. My industry is having a sale, prices are down about 10% or more, depending on the price range and area.  Interest rates are down to 4.875 as of last Friday for a 30 conforming loan. There are some no cost options still available.  A rate change of .05% at $220k is the same as a price reduction of $10K.  

This will likely be the 7th or 8th best year in Real Estate transactions EVER with 4.8-5 million transactions.  Good houses are still selling at the right price.

 www.tinastown.com

The Scholastic Aptitude Test (SAT), a measure of the developed verbal and mathematical abilities important for success in college, is given to students all across the country. The College-Bound Seniors Report presents data for high school graduates in the year 2008 who participated in the SAT Program.

Students are counted only once, no matter how often they tested, and only their most recent scores are reported. These scores do not always represent the highest score attained by a student, school, or system. œThe 2008 SAT scores on the combined verbal, math, and writing subtests rank Forsyth County Schools 8th in the state among school systems, stated L.C. (Buster) Evans, Superintendent. œWe are also pleased that our number of participants has steadily increased over the past five years and that system scores continue to be above the national average. œWe™re especially pleased that all three of our high schools who gave this test last year saw increases in scores this year. I think this overall improvement speaks well to the dedication of our staff members in helping all of our students focus on the necessary steps they need to take to be successful in their post-secondary educations, Evans added.

Again this year, Forsyth County Schools will be participating in the Online SAT Preparation Class offered through the Georgia Department of Education. Students in grades 9-12 will be provided a login through their high school for accessing the online course. The Online SAT Preparation Course is offered free of charge and all FCS high school students are encouraged to participate. The online course offers 18 interactive lessons, 6 official practice tests, personalized reports, automated essay scoring, sample student essays, and detailed answer
explanations.

Additionally, in the spring of 2008, FCS implemented a new initiative called the 2400 Challenge, which seeks to help all FCS students be better prepared for post-secondary options. A major component of the 2400 Challenge is creating ways to better prepare for college entrance exams such as the SAT; the name is reflective of a perfect SAT score of 2400. A task force of school and community leaders worked for several months in the spring to complete recommendations for improvements throughout the system. Currently, the work of the task force is being compiled and their recommendations are scheduled to be presented to the Board of Education later this fall.

œWe™re also excited about the work of our 2400 Challenge Task Force which met last spring, said Superintendent Evans. œCurrently the recommendations from the task force are being compiled and will be presented to the Board of Education later this fall. We are so fortunate in FCS to have strong community support for efforts such as the 2400 Challenge. Success of our students truly is a community endeavor and I was honored to work with everyone who volunteered their time for the 2400 Challenge Task Force.

Source:   www.cumminghome.com

For Immediate Release, Atlanta, GA “ Atlanta offices of Keller Williams Realty have been named the 2008 recipient in Residential Real Estate for the Consumers™ Choice Award, a division of Market Data Systems, Inc. In Atlanta, the Consumers™ Choice Award is becoming the standard of trust upon which clients decide their choice for excellence.

Award recipients were identified through a comprehensive and objective survey conducted in May 2008 by Survey Sampling International (SSI). SSI is the world™s largest statistical sampling organization dedicated to survey research and serves over 1600 clients globally. This is the ninth year that the award has been given and Keller Williams Realty is the only company honored in this category for 2008.  

Shaun Rawls, Operating Partner and Owner/Broker of six of the Atlanta based offices noted: œWe are thrilled to be recognized for an award that models our belief system that customers always come first. To be chosen by the people we serve every day is what we strive for. When you operate as a Real Estate Professional who aims to create clients for life, there is no greater honor than being recognized for just that.

Jeri Moran, General Manager, Keller Williams Realty, The Rawls Group, said: œConsumers today have many choices when selecting a Real Estate Professional. In the market we are in, trust, knowledge and good old fashion customer service is paramount and defines value. We believe this award honors our agents for these things and we are so proud of the work they have done.  

In the last five years, Keller Williams is the only Real Estate office in the Atlanta area to increase market share every year. The Southeast Region of Keller Williams Realty opened its first office in 1999 and has grown to the largest region in the company.

Welcome to Tina Hecht’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Suwanee.