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The 7 Worst Things You Can Do to Your Credit Score

by Leslie Edwards

This Article Was Written by Broderick Perkins and Reposted
Because it is Great Information About Your Credit Score.

John Ulzheimer, president of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, is an expert on credit reporting, credit scoring and identity theft.

Formerly with FICO, Equifax and Credit.com, Ulzheimer is a rare editorial source -- a recognized credit expert who actually comes from the credit industry.

He often references in his writings the "Seven FICO Deadlies," credit score deflating actions, but only recently identified them in one consolidated list.

Your credit score, from about 350 (poor) to 800 (excellent) is a numerical rendition of your credit report. The higher your score, the more likely you'll get approved for credit and the more likely you'll get the best rate and terms. Negative actions posted to your credit report, take a bite out of your credit score.

Here's what Ulzheimer says are the seven worst things you can do to your credit score. And speaking of "seven," that's how many years these black marks can stay on your credit report.

 

  • Deadbeat behavior. Frequent, significant and late payments 30 days, 60 days, 90 days late. Don't believe a 30-day-late payment won't hurt. It may not ruin your credit but it's not helpful and can remain on your report for years.

    Collection activity. When the lender gets tired of your deadbeat behavior it will call out the dogs -- a third-party collection agency. The collection agency will report collection activity to the credit bureaus and again, seven years of bad luck.

  •  Charge offs. If the lender gives up on your collection case, acknowledging you'll never pay the bill, it charges off the debt and puts your credit report on notice for seven years.

  • Public recordings. Bankruptcy, tax liens, judgments and the like are killers for your credit rating. Judgments are good (or, from your viewpoint, bad) for seven years, even if you pay them off. Bankruptcies can dog your credit report for 10 years and unpaid tax liens never go away.

  • Settlements. If you pay a portion of a debt to your lender in a settlement, say a some of the mortgage in a short sale, you can get a settlement notice on your credit report card for seven years. Credit cards and other debts, likewise can be settled, with negative impact to your credit report.

  • Foreclosures. If you can't or won't pay your mortgage the lender will eventually foreclose and relieve you of your home. Another seven year negative notification will drag down your score. The same applies when you give the home to the lender in a deed-in-lieu of foreclosure.

  • Repossession – When you don't pay your vehicle loans a bounty hunter will be coming your way. He or she is not coming after you, but your vehicle, and that's often without notice, after you've been dunned for a while. It's all legal. The repo man can take your property down and your credit score will follow.

    Although getting a mortgage is more difficult today than it was a few years ago when the real estate market was hot, qualified buyers are getting approved everyday. Call me and let's discuss your situation and see how I can help you.  Your information is always confidential and as always, there is no obligation to do business with me.  Let's talk.

    leslie edwards                                                                       Environmentally Aware, Socially Conscious, Politically Active Real Estate Agent 770.460.9448                                                                                           

    CDPE Certified Distressed Property Expert                                                                              CRS   Certified Residential Specialist                                                                                          Epro  Certified Internet Professional                                                                                              ABR   Accredited Buyer Representative                                                                                       GRI   Graduate of the Realtor Institute                                                                                            Dave Ramsey Endorsed Local Provider                                                                                   Selling South Metro Atlanta including:Clayton, Fayette, Henry, Coweta, Merewether, South Fulton & Spalding Counties. Call me now tow buy or sell in all the towns and cities south of the Atlanta International Airport, including, but not limited to:Brooks, College Park, Fairburn, Fayetteville, Jonesboro, Locust Grove, McDonough, Newnan, Sharpsburg, Stockbridge, Palmetto, Peachtree City, Tyrone and more

    Moving Families Since 1978                                                                                                                 Let My Experience Work For You                                                                                     770.460.0739 Fax                                                                                                                                    See All the Lisings in The MLS At www.SouthMetroAtlantaMLS.com      www.leslieedwards.com/blog                                                                     leslie@leslieedwards.com                                                                                                           RE/MAX Around Atlanta

     

    Save your credit, relieve the uncertainty, and most of all, help your family. Call me for Short Sale and Pre-Foreclosure Solutions and let's get started on the path to recovery.

    http://www.leslieedwards.com/Blog/What-is-a-Short-Sale-and-Why-You-Might-Want-One

      

     

     

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    Is it "Me", "Myself" or "I" ?

    by Leslie Edwards

    95% of the time when I hear someone use the word "myself" in a sentence, I cringe.  The word "myself" is rarely used correctly.  More often than not, the correct word is either "I" or "me". 

    Below are two explanations of when to use "Me" "Myself" or "I"

    "In the old days when people studied traditional grammar, we could simply say, "The first person singular pronoun is I when it's a subject and me when it's an object,' but now few people know what that means. [. . .] The misuse of I and myself for me is caused by nervousness about me. [. . .] But the notion that there is something wrong with me leads people to overcorrect and avoid it where it is perfectly appropriate. People will say, 'The document had to be signed by both Susan and I' when the correct statement would be, 'The document had to be signed by both Susan and me.'

    Trying even harder to avoid the lowly me, many people will substitute myself as in 'The suspect uttered epithets at Officer O'Leary and myself.' Myself is no better than I as an object. Myself is not a sort of all-purpose intensive form of me or I . Use myself only when you have used I earlier in the same sentence: 'I am not particularly fond of goat cheese myself'" (Brian’s, Common Errors in English Usage).  *** I wanna be, all by myself. le

    When do you use "me"?

    The craziest rule of all, to my ear, is the rule that governs the use of "myself" and "me". Which of these *sounds* correct to you?

    1. The Captain handed the medals to my partner and myself.

    2. The Captain handed the medals to my partner and I.

    3. The Captain handed the medals to my partner and me.

    The correct version, of course, is the 3rd. The word "me" is always a direct or indirect object (never a subject) and "I" is *always* a subject--that much doesn't sound too far-fetched, and it rules out the 2nd example.

    "Myself" is a special object (direct or indirect), to be used only when the subject is you (note I didn't write "...when the subject is yourself"). I can give a gift to *myself* since I am the one doing the giving. The Captain can never "give a gift to myself" since the subject is the Captain.

    Part of the confusion comes from the two-part indirect object in the examples above ("my partner and me") but the same grammar rules apply whether or not the object is compounded.

    leslie edwards, Realtor                                                                       770.460.9448                                                                                                        leslie@leslieedwards.com                                                                                          see all the listings at                                            www.SouthMetroAtlantaMLS.com                                                                     As a Certified Distressed Property Expert, I help families avoid foreclosure.  If someone you know can't pay their mortgage, ask them to call me.

     

    Mortgage Interest Rates

    by Leslie Edwards

    Mortgage interest updates courtesy of Mark King, Fairfield Mortgage. For a quick response call Mark at 770.314.3991.

    Email M.King@FairfieldMortgage.com

    After reaching the lowest levels in decades, mortgage rates have shot higher over the past few weeks, but why?  The simplest explanation is that when investors look ahead, they see few reasons for mortgage rates to move lower and many possible causes for them to move higher.  To fully understand this explanation, though, it is important to understand the unusual developments during the month of November and to look at all of the factors influencing mortgage rates at this time.  

    The story begins in late August when the Fed hinted that they would initiate a new stimulus program to purchase US Treasury securities, a process now famously known as quantitative easing.  The news of this stimulus program created a strong demand for bonds, including mortgage-backed securities (MBS), and mortgage rates fell lower.  Fast-forward to November 3rd when the Fed announced that they would indeed buy $600B. of US Treasury securities between now and the middle of 2011.  At that time, many predicted that rates would fall even lower during the winter months ahead.  A couple of days later, however, mortgage rates actually began to do the opposite and rose for the following four reasons:

    1.  Foreign and domestic opposition to quantitative easing.  The announcement of the program was met with substantial opposition from other countries and from many US politicians and economists.  Investors had viewed the $600 billion figure as a first step which would likely be increased in the future.  It is clear now that the Fed will face strong resistance to an expansion of the program, in fact, this resistance could be strong enough to end the program early.  

    2.  Stronger than expected economic data.  Stronger growth decreases the need for additional Fed stimulus, and it generally leads to higher inflation.  A few key reports released just after the Fed announcement caused investors to raise their outlook for economic growth.

    3.  Concerns about lower foreign demand for US securities.  The quantitative easing program pumps dollars into the economy, and the increased supply weakens the value of the dollar relative to other currencies. When foreign investors sell US securities, they must convert the US dollars they receive into their own currency. If the value of the dollar falls, then the value of their US investment falls in relative terms to their own currency. As a result, foreign investors may reduce their purchases of US securities, including mortgage-backed securities (MBS), which would cause yields to increase.

    4.  Rising foreign rates.  China's announcement of a rate hike was another negative for US mortgage rates.  Yields must rise in other markets to compete with higher yields in Chinese markets.

    The recent news has not been uniformly negative for mortgage rates, however.  Current inflation levels remain extremely low.  In fact, the Consumer Price Index data released last week showed that annual core inflation dropped to a record low in October.  Bottom line, though, when mortgage rates reached such extremely low levels, it left them in a position to reverse direction very quickly, and that is what has happened in November.  December and January should be very interesting...

                   

    Understanding Appraisals    

    If it’s too high, underwriters get nervous and get out their red pen.  If it’s too low, realtors get nervous and call their loan officer.  If it's right around the sales price, everyone's happy!  What is it?  The appraisal, of course!  An appraisal is a key component of the mortgage process.  It provides assurance to the lender that if the loan isn’t paid back, the lender could recoup any losses through the sale of the property.  Here are some key facts regarding this important piece of the loan approval process.

    Appraisers are independent experts
    Appraisers are beholden to no one.  They are independent third-parties hired by lenders to render an opinion on what a home is worth, based on specific data.  Recent guidelines put into place by Freddie Mac and Fannie Mae prohibit anyone tied to the sales side of the mortgage process (loan officer, processor, etc) discussing the appraised valued with the appraiser.  Appraiser independence is a big deal in the mortgage world today and has forced many lenders to use impersonal national appraisal firms that are low on customer service.  At Fairfield Mortgage, however, we only use the best appraisers in Georgia that have been cherry-picked by county and are the very best in each given area.

    Appraisers use data and experience
    Appraisals are based on opinion, but that opinion is steeped in data that supports the conclusion.  A common practice for appraisers is to compare similar properties that are superior and inferior in features, size and condition to the subject property, making adjustments between them to support the final value.  This practice, called bracketing, would work like this.  A comparable property might have a fireplace whereas the subject property does not.  Or, the square footage might be greater in the subject property compared to the other comparable properties.  Appropriate positive or negative adjustments are made to the subject property's value accounting for differences in features (or lack of them), so the properties are compared as closely as possible.

    Adjustments based on market and not cost
    Some home remodeling projects will deliver a healthy return on the investment, but others do not.  A seller may have paid $30,000 to install a pool, but the current market is only willing to increase the price they’ll pay for that pool by $15,000.  Adjustments are based on what the market values the improvements, not the cost or opinion of the seller.

    Appraisals are a snapshot.
    As market conditions change, so will the appraised value of a home.  Appraisals capture the value at a specific point in time, but as we know, the housing market can change quickly.  Thus, the value of a home in the Fall of 2010 might be a lot different than the value of the same home in the Fall of 2009.  This is why appraisers are instructed to primarily look back only 3-6 months for data and appraisals are normally only good for four months.

    The appraisal piece of the mortgage puzzle, is more complicated and controversial today than ever before.  That is why it is critical to work only with lenders that use an in-house appraisal desk and the very best in appraisers.  At Fairfield Mortgage, our appraisers always involve the realtors involved in the transaction before turning in a low appraisal.  They will always ask for more data because they want to turn in a value that works if at all possible.  Like everyone at Fairfield Mortgage, they are looking for ways to make deals work, not the opposite.  Experience the difference.  Experience Fairfield Mortgage!

    Rate Update


    Rates are up a bit in November but there is no doubt that we can all be thankful for the low rates of 2010, which continue to be at amazing levels!

     

     

     

    Conforming

    Non-Conforming

    FHA

    VA

    Loan Amount

    < $417,000

    > $417,000

    < $346,250

    < $1,000,000

    30 Year Fixed

    4.375%

    5.375%

    4.375%

    4.375%

    15 Year Fixed

    3.750%

     4.750%

    4.000%

    4.000%

    10 Year ARM

     

     5.125%

       

    5 Year ARM

    3.250%

     3.500%

       

    3 Year ARM

     

     3.375%

       




    The above rates are for purchase loans for a primary residence and are intended to give you an overall idea of how rates are changing from week to week. Other factors such as credit score, down payment, and number of days the rate is locked all contribute to the exact rate, which is subject to change at any time and without notification. The Conforming rates above apply to purchase loan sizes $150,000 - $417,000 and carry zero discount points. Rates for lower loan amounts are slightly higher. Lower rates are also available for all programs with discount points.  Qualification is subject to credit and property approval and other restrictions may apply.




    Looking Ahead

    Due to the Thanksgiving holiday, all of this week's economic reports are due out prior to Thursday.  Revisions to third quarter GDP and Existing Home Sales will be released today.  Durable Orders, New Home Sales, Personal Income, Consumer Sentiment, and the Fed Minutes from the November 3 meeting will come out on Wednesday.  The mortgage markets will be closed on Thursday and will close early on Friday.








    Have a great week and when you think of financing, please think of Fairfield!

    If you like what you read, please forward.


    To subscribe or unsubscribe, please notify me at
    m.king@fairfieldmortgage.com.
    The information contained herein is believed to be accurate, however no representation or warranties are written or implied. All Rights Reserved.

     
       


     

     

     

     

    This is not what I signed up for....

    by Leslie Edwards

    Way back in Elementary School, my expectation was that I would go to college and study to be a therapist.  Some say that lots of crazy people go into the field to figure out what is going on with themselves. Hmmm...                        College came 5 years after High School (that's a whole other story) and it took me another 5 years to get a degree in Psychology while working full-time.          It was pretty exciting when I got my first job/internship with the Fulton County Alcohol and Drug Treatment Center.  I thought I was on my way to the career I had planned for since Elementary School.                                                       The reality of the situation was not at all what I expected.  The failure rate of addiction treatment was huge compared to a very small success rate. I found out quickly that the chance that I could actually help someone was minuscule.  All I could really do is listen, which left me seriously depressed.  If the patient cried, I often cried too.  I carried their pain home with me and it did not take me long to realize that the job was too hard on my own mental health.                  

    In 1977 I got a real estate license on a lark.  Part time I closed a few transactions and soon, real estate was in my blood. I could actually help people get what they wanted and if they came back, it was a success, not a failure. At closing, everyone was happy. The buyers got a house, the seller got a check, agents, loan officers and attorneys all got paid a fair fee for their work. 

    There is a "new normal" in real estate today and my job has changed so much that it now looks and feels more like my Therapist experience than my real estate experience of the first 30 years.

    Today, buyers have to wait months to close a foreclosure or a short sale, both of which dominate the current real estate market.  Sellers who have to move, because of the foreclosures and short sales in their neighborhoods, are bringing money to closing or negotiating a short sale or deed in lieu of foreclosure with their mortgage companies, which has a huge negative effect on their credit ratings.  The fees for real estate agents, loan officers and attorneys have steadily decreased while expenses and the work involved have more than doubled.  So rarely at closings today, is everyone happy.  Often nobody is happy.   Listing appointments today consist of telling sellers their homes are not worth what they paid and finding out if they are behind on their mortgage payments and if so, how much.                                                                 It often feels like I am in my Psychologist mode rather than in my Sales Person mode.  A lot has changed in the past few years. So many sellers are experiencing hardships that make it impossible to make the payments and are at risk of losing their homes.  When I listen to some of them tell me their stories, I still want to cry and I still take their pain home with me                                                         

    It does not look like things are going to improve any time soon.  The news reports claim people are once again spending money so the economy must be recovering.  I don't think so.                                                                  Often, right after people have an accident or serious illness, they will drive more cautiously, quit smoking, eat right and exercise.  Human nature is such that, over time, these same people will start falling back into their old habits. 

               My sense is that those spending money are just reverting to old spending habits that got them into trouble in the first place.

    Foreclosures are moving steadily up in the higher price ranges.  There are also many interest only loans that cannot be refinanced because the appraisals willl not support the loan amount they approved when the interest only loan was made.  Because we have had historically low interest rates, those loans have remained manageable for many.  Once the interest rate starts moving up, and it will, those interest only loans will start to adjust to higher interset rates and monthly payments, causing a whole new stream of foreclosures and short sales.

    The job has changed. Because I have 32 years of experience in the real estate trenches, I can help some people fix their problems and that is some consolation. Some people can't be helped.  Sometimes it is their own fault but most often something bad has happened to cause them to lose their home.

    If you know someone who needs help, have them call me. I will do a free consultation to find out what we can do for them.

    I am ready for the business to return to the time when we all got to be happy at closing, but until then, I am trying to help everyone I can.

    You cannot change the world one at a time but if you help one person, you can change their world.

    leslie edwards 770.460.9448                                                               selling real estate throughout South Metro Atlanta

    environmentally aware, socially conscious, politically active

     

     

    Blast From The Past

    by Leslie Edwards

     

    Do you ever wonder what happened to someone you knew years ago?  Search Engines like Google, offer the possibility of finding a long lost friend or relative.  You can google the school bully from years past and find out if he is in prison or the most popular “jock” from high school to see if he ever made anything of himself. 

    Recently, my daughter googled her father, who had been estranged for many years, and found his obituary.  She also learned she had a half brother she did not know existed.  They have been in contact getting to know each other since.

     It started me thinking of people I knew in the past, wondering how their lives turned out and what they were doing now, so I googled some of them.  It is harder to find old girlfriends as women tend to change their last names when they marry, and again when they remarry.  That is an outdated custom as people are often married more than once and it is just plain inconvenient to keep changing names.  Men are generally much easier to locate.

        Some of my friends were shocked that I would ever want to hear from or about an ex.  I have never understood how some people can hold on to anger and resentment for years. If I cared enough to  have a longtime friendship, a romantic relationship or to marry someone, then I will always care about them (some more than others) and wonder how they are. 

        My second husband from 1970 was easy to locate.  When I googled his name, I got lots of information, including email, phone number and street address. 

        He was glad to get my email and we have since been sharing memories of our time on Tenth and Peachtree Streets at the height of the hippie movement.  Without a doubt, that was the most interesting time of my life so far. 

        Either we were never real mad at each other or if we were, we have both forgotten. We have had some terrific strolls down memory lane talking about people and things I hadn’t thought about in over thirty years.

       Interestingly, he is, for the most part, the same kind and sensitive person he was in 1970.  He has dedicated his life to helping recovering addicts through Narcotics Anonymous.  He sponsors people during their recovery, speaks, writes and publishes books and has a worldwide network of friends he is in contact with regularly. I think he and I will be friends forever now.

       Is there someone in your life you wonder about?  Take a chance.  Google (free) the name or check out Classmates.com ($).  It can be fun and often enlightening.

    Try it.  Google someone today.

    le

            

     

     

    Buy and Bail, A new trend

    by Leslie Edwards

        For the past few years adjustable rate mortgages, 103% mortgages, interest only and other no down payment financing options, coupled with artificially high appraisals and prices have resulted in many homeowners being upside down in their homes.  They owe much more to the bank than the home can sell for.                                                                                                                    When nearby foreclosures sell for thousands less than the paying homeowner owes, it may take years for home prices to recover.  Some paying homeowners with good credit, have bought new homes, moved and simple stopped paying on the first home.  Hence the term buy and bail. The people who do this give up their good credit to get out from under a devalued property.                 

    I recently visited a newly foreclosed home on behalf of the bank, to determine if the home was occupied. I met the former homeowner to arrange for the family to move out.  The neighborhood was one quarter built out and the rest of the lots were overgrown with pipes sticking out.  The homes were large and attractive.  The buildier had gone out of business and at least one third of the new homes were foreclosed and for sale ast substantially reduced prices.  The man I spoke to told me he had paid $344,900 for his house and the same plan a few doors down just closed for $280,000.  He had to move for his job and could not sell his house.  He could not afford to pay for a home he did not live in and felt he had no choice. He had good credit and was able to buy in his destination city before he stopped making payments on the home he was leaving.                   

    While this is wrong on so many levels, this trend is part of the new reality.  BUY AND BAIL. Not recommended.

    leslie  edwards                                                                                     

    sells real estate                                                             770.460.9448                                                                             RE/MAX Around Atlanta

    Guard Your Metal

    by Leslie Edwards

    As long as I have been selling real estate, I never, until late last year, heard of people stealing  metal to sell to the recyclers.  I have had air conditioners stolen and wiring and copper pipes stripped from homes I was selling. 

    Late last year I was marketing a foreclosed property on 5 acres with a huge, way bigger than the house, metal outbuilding.  One day the man who had the property under contract called in a panic because he bought the property because of the huge building and demanded to know why was it being torn down? 

    We contacted the police who went over there and arrested three men who were attempting to dismantle the entire building to sell the metal to scrap metal dealers.

    I saw this article about copper and it reminded me about that transaction and that I should warn homeowners about this new trend in crime.  Remember to guard your metal.

    Copper Is Like Gold These Days

    With copper at more than $4 per pound, thanks to demand in Asia, home owners should guard the metal like it was gold.

    "You would never leave gold sitting out in the yard," says OneBeacon Insurance Group executive Charlie Sidoti, who estimates a 300 percent increase in claims of copper theft in the past 18 months.

    Homes sitting empty are easy targets. Sidoti recommends installing fences, motion-detector lights and security cameras to discourage thieves from ripping out air conditioner coils, plumbing, rain gutters, sprinklers and bronze lawn ornaments.

    Meanwhile, 35 states have pending or signed legislation requiring people selling metal to show identification to scrap dealers.

    Source: Time Rebecca Winters Keegan (06/23/2008)

    If you want to talk real estate, call me at 770.460.9448 or email leslie@leslieedwards.com

    leslie edwards     sells real estate     RE/MAX Around Atlanta

    30 Years  Experience Isn't Expensive ......  It's Priceless

    GAY MARRIAGE

    by Leslie Edwards

    The California Supreme Court rule this week that same sex couples are entitled to marry.  While those in favor of the ruling are rejoicing across the country in hopes acceptance will spread across the country, some very vocal opponents to the ruling are making themselves heard on television, in papers, on the internet and on talk radio. 

    This is a tricky subject for me to comment on but I really do have strong opinions about the subject.

    As a product of the 60's, I have been blessed to know and appreciate people from all walks of life and I am often embarrassed by the way we Americans treat people who are different from us. The main thing I have learned over the years is that when you know someone personally, they stop being black, foreign, gay or whatever makes them different from me.  I stop seeing differences and see only the person. 

    What I don't understand about the gay marriage issue is why do people care so much if a gay couple gets married?  It does not affect my life at all. 

    I heard someone on a news program say that this ruling would destroy marriage as we know it.  The concept of marriage is already in shambles and it has nothing to do with gay people.  With over 50% of all marriages ending in divorce, marriage has become a tough sell for millions of people who decide not to ever marry and for divorced people who choose to never marry again. If gay people want to marry, I say let them.   

    Marriage is an antiquated concept that sets people up to fail.  Two people make a lifetime committment "til death do us part" when the reality is that the chances of staying with one person for a lifetime get slimmer all the time. 

      If we could embrace the reality, people whose marriages end would not have to feel like failures. It would be more healthy and better for everyone involved if  they could appreciate the best parts of the relationship without the bitterness.  Hopefully we learn from every relationship to make us better fbetter people.

    There are, of course, many hetrosexual couples who enjoy successful, lifelong marriages, but they are fewer than ever before.

    There are legal and practical reasons for same sex couples to marry including being the next of kin in an emergency, health insurance, inheritance, adoption, etc.  There is also the desire to make a formal committment to each other in front of family and friends, to make a family, to have a big wedding.

    Several of my gay couple friends have been together for over twenty years and are committed for life, which is more than I can say for most of my straight couple friends.  If marriage makes gay people feel more connected, I say why not?

    The US is far behind much of the world in their level of acceptance for gays and minorities.  I think is long past time to be more accepting and inclusive of others who are different from us.

    So, I go on record as in favor of gay couples being allowed to marry.  To all my gay guy couple friends, keep me in mind for the wedding party.  Bridesmaid?

    leslie edwards                                                                                                                                                 sells real estate to anyone who is buying regardless of race, color, religion or sexual orientation.

    Call 770.460.9448 if you or anyone you know wants to buy, sell or talk real estate.               RE/MAX Around Atlanta  Serving South Metro Atlanta                                                                               30 years experience is not expensive, it's priceless

    Clayton County Foreclosures

    by Leslie Edwards

    According to the news this morning, one in every ten homes in Clayton County is currently in default.  That statistic makes it very hard for owner occupants to sell their homes when the foreclosures in their neighborhoods continue to push prices down.  It is happening in all price ranges and the only homeowners who are immune to the fall in value are the ones who are not trying to sell. 

     The market will move back up over time but it will take some time for the market to absorb all of the homes for sale right now in Clayton County.  As always, the people who survive severe shifts in the market hang in there longer.  Don't panic sell if you on't have to move.  If you want to move, but don't have to move,you will have to decide how much equity are you willing to lose to move now.

    If you are a buyer, this is the best buyer's market in years and buyers should be buying.  The rate is very low compared to not so long ago when rates were in the double digits: 10% to 16% interest rates were common.  Many buyers do not appreciate what an opportunity this is to buy more house than they could afford in any other market because of  low interest rates and the lower home prices.  Those buyers will regret the hesitation when the market shifts and it always does, and when interest rates increase.

    Real estate moves in cycles and this is just part of that constant change.  History has shown that no matter how low and slow  the market gets, it has always  improved and often with a huge rise in values.  It is just part of the cycle.

    Call me if you have to sell, really want to sell or if you want to take advantage of these great opportunities in the real estate market.

    leslie edwards   sells real estate   770.460.9448   RE/MAX Around Atlanta

    leslie@leslieewards.com

     

    Who Says Real Estate Is Not Selling?

    by Leslie Edwards

    As of today, May 13, 2008, I have closed 22 properties with an additional 3 properties scheduled to close by the end of this month.  While I have sold more in past years, my current sales numbers are more than 10 times the average real estate agent's sales.  I think there are good reasons why this is true.

     Sellers and Buyers who might have used their new, part-time or unproductive real estate agent relative, friend, church member, neighbor, etc. are choosing experience over friendship and family loyalty in this challenging market

    After 30 years as a full-time, successful REALTOR, I have learned to adapt to constantly shifting market conditions.  We have systems in place to provide consistently exceptional service to our clients regardless of market conditions.. 

    The current reality is that there are at least twice as many sellers than buyers so the job is to attract and capture buyers. 

    Studies show that buyers typically call more than one agent and continue calling until someone is available to talk to them.  The first available agent often gets the sale. 

    My phone is answered 24 hours a day, 365 days a year by a live person.  We have three licensed agents on our team to insure that someone is always available to talk to a buyer when they call.  The office and the answering service transfers calls directly to one of us immediately.  We prefer that instead of taking messages, we talk to people when they call.

    The percentage of buyers who search for homes on the internet continues to soar.  Our properties are listed on more than twenty individual websites and include multiple photos and visual tours, both of which increases the number of unique visitors who will stop to view your property online.  To see how we market properties visit www.leslieedwards.com and www.SouthMetroAtlantaMLS.com

    Contact me for a FREE Buyer and/or Seller Consultation by email, phone or in person.

    leslie edwards  sells real estate  770.460.9448

    30 years experience is not expensive.  It's priceless

    leslie@leslieedwards.com       

    RE/MAX Around Atlanta All Stars

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    If you hear of anyone who wants to buy or sell in any of these areas, please mention me and then call me so I can contact them. I appreciate your referrals!