The City of Alpharetta, Georgia

As Alpharetta City Councilman, I recently had the opportunity to sit with Bob Strader of The North Group to discuss the city of Alpharetta, how it is faring in the current economy, what projects are going on, what’s happening with Prospect Park and Westside Parkway and the likleyhood of Milton County. Bob Strader is a Realtor whose focus is on merging technology and real estate. He specializes in helping buyers search for homes online and leveraging technology to maximize online exposure for home sellers. He lives in Milton, GA and is passionate about nurturing and growing the North Fulton community. Part 1 of our interview is posted below. To view the entire interview, please visit the post on the North Fulton blog: http://www.liveinalpharetta.com/blog/?p=1622

Interest Only Demise

Freddie Mac is no longer going to offer interest only products for loans after 6/13/2010. I expect Fannie Mae to follow Freddie’s footsteps and by Labor Day of 2010 the availability of interest only products will be slim. So if you or anyone you know wants to refinance to an interest only program, time is of the essence. It is too early to predict that interest only programs are going to be extinct but trends do suggest less availability.

Interesting Facts about 2009 from a Real Estate Perspective

As many of you know, I attend various Tuesday morning sales meetings at various real estate offices throughout Atlanta. Sometimes I have been asked to speak about the economy or what are the hot mortgage programs being offered; and other times, I simply attend to listen to the leaders of the office talk about the sales activity and what is effecting their business. This week, I attended the Keller Williams Community Partners meeting and listened to Gene Tuggle go over some very interesting statistics that made me say WOW….So, I thought I would share them with you….Facts About 2009…. 1. US Mortgage rates average 5.04% which is the lowest average since Freddie Mac tracked this statistic going back to 1971. 2. 2009 affordability….Most favorable on record. 3. 2009 US Home Sales ranked 4th highest on record. 4. 69% of first time homebuyers stated they “desired to own a home” as the primary reason they purchased a home. 5. Only 6% stated they purchased a home for the tax credit. 6. 90% of buyers used the internet to gather information during the home buying process. 7. 66% of home buyers interviewed only ONE agent. 8. 66% stated they would use their agent again. Interesting facts about 2009….From the numbers, things were not as bad as some have stated and 2010 is projected to be a better year than 2009!!! Some lessons can be taught with these figures. The one that jumps simply off the page to me is that 66% of home buyers only interviewed ONE agent. This is obviously where “prospecting” pays off. Always be asking your current and past clients, friends, vendors and even the person who is your waiter at your next visit to a restaurant if they know anyone interested in buying or selling a home. By the numbers, you have a 2 in 3 chance of getting that deal simply because you asked the question.