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There is still confusion today over the difference between Alpharetta GA short sales and foreclosures, so we wanted to hit the highlights of each in this short real estate minute video.

Both Alpharetta GA short sales and Alpharetta GA foreclosures will negatively impact your credit and ability to buy another home, but going the short sale route may give you a better chance of buying another home in a shorter period of time as opposed to allowing your lender to foreclose on your home.

We have other articles and tips pertaining to Alpharetta GA short sales and foreclosures by clicking on the Alpharetta GA Mortgage Info link to your right under Alpharetta GA Real Estate Categories.

Alpharetta GA real estate, homes and land, is our specialty at Home Hunters Realty. Visit our Atlanta Metro real estate website, designed to help you, the homebuyer, make an intelligent home buying decision, and provide you with a complete resource guide for Atlanta Metro real estate, including Alpharetta. To begin searching for Alpharetta real estate now, simply click the "Search for Alpharetta GA Homes" link at the top or bottom of this page.
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A Alpharetta GA cash out refi used to be like taking cash out of your home like an ATMA Alpharetta GA cash out refi may soon be a thing of the past, and has in fact, already tumbled from a peak of $320 billion in 2006 to just $32 billion in 2013.

During the housing boom of the mid-2000's, a Alpharetta GA cash out refi became a popular outlet for homeowners. Homeowners were encouraged to think of their homes as ATM's they could easily withdraw cash from, in the form of a cash out refinance.

Decrease in Alpharetta GA cash out refi popularity is due to three reasons:

1. A Alpharetta GA cash out refi is closely tied to an increase in home prices.

Despite jumping 11.5% year-over-year nationally in 2013, inflation adjusted housing prices are still down about 30% from the bubble peak.

In addition, analysts don't expect home prices to continually rise as they did in the bubble years, which could make borrowers less likely to withdraw equity from their homes. Home prices are projected to increase by 4% in 2014 and 2% in 2015 followed by a 2% increase on average in the long term. As a result, many borrowers would still be unable to use a Alpharetta GA cash out refi due to the lack of home equity.

2. A shift in borrower mentality from using their homes as an ATM.

Homebuyers are making more of a concerted effort to pay down or pay off their debts instead of expanding or upgrading. As lending standards tightened after the crash, borrowers' credit quality has improved.

3. A Alpharetta GA cash out refi is not always cheap when compared to alternatives like home equity loans.

While the interest rates on a Alpharetta GA cash out refi are usually lower than those on a home equity loan, they can become expensive once additional loan level pricing adjustments are factored into the equation.

Depending on the FICO/LTV combination, a borrower could pay up to 3% of their mortgage balance upfront or 0.75% additional annual interest rate for a cash out refi. Additionally, cash-outs are not available to high LTV borrowers. Guidelines stipulate that a Alpharetta GA cash out refi is not permitted for borrowers with LTV greater than 85. Finally, closing costs are required for cash-out refinances, but they are not needed for home equity loans.

Given these 3 factors, it would seem unlikely for the Alpharetta GA cash out refi to make a comeback or return to pre-crash levels.

For more mortgage tips and information, check out the link to our Alpharetta GA Mortgage Info under Alpharetta GA Real Estate Categories to your right.

Alpharetta GA real estate, homes and land, is our specialty at Home Hunters Realty. Visit our Atlanta Metro real estate website, designed to help you, the homebuyer, make an intelligent home buying decision, and provide you with a complete resource guide for Atlanta Metro real estate, including Alpharetta. To begin searching for Alpharetta real estate now, simply click the "Search for Alpharetta GA Homes" link at the top or bottom of this page.
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The cost of Alpharetta GA homeownership continues to rise, and is now partly to blame for the recent housing woes.

The cost of Alpharetta GA homeownership continues to rise, but is still cheaper than renting.It had been thought that home sales had slowed due to unusual winter weather in many parts of the country, but buyers seem to be contradicting that theory now that spring has arrived.

According to an analysis by RealtyTrac, the average monthly payment for a three-bedroom home purchased in the fourth quarter of 2013 shot up by 21 percent in the past year. The calculation includes the estimated cost of a mortgage, homeowners insurance, property taxes and maintenance and subtracts the estimated income tax benefit.

 

Average Cost of Alpharetta GA Homeownership Still Cheaper Than Renting

The average monthly house payment for a three-bedroom home in the 325 counties included in the analysis was $865 in the fourth quarter of 2013, based on a 30-year fixed rate mortgage with an interest rate of 4.46 percent and a 20-percent down payment. That's up from $714 for the same size home in the fourth quarter of 2012, using an interest rate of 3.35 percent.

The rise is due to median home price increases of 10 percent in the 325 counties, along with that increase in the average 30-year fixed mortgage rate, as reported by Freddie Mac.

The danger in the affordability statistics is that median monthly incomes (the minimum income needed to qualify for a median-priced home) are not keeping pace with the rising cost of homes. Even with the increase in the cost of Alpharetta GA homeownership with a mortgage, it's still cheaper to own here and in 91 percent of the counties analyzed than it is to rent a three-bedroom home.

Check out our other articles and news affecting Alpharetta GA homeownership and the Alpharetta GA real estate market in general by clicking on the Alpharetta GA Real Estate News link to your right under Alpharetta GA Real Estate Categories.

Alpharetta GA real estate, homes and land, is our specialty at Home Hunters Realty. Visit our Atlanta Metro real estate website, designed to help you, the homebuyer, make an intelligent home buying decision, and provide you with a complete resource guide for Atlanta Metro real estate, including Alpharetta. To begin searching for Alpharetta real estate now, simply click the "Search for Alpharetta GA Homes" link at the top or bottom of this page.
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Alpharetta GA home sales may be looking at a big surge this spring with a lot of frustrated buyers looking for homes and sellers starting to put their homes on the market.Alpharetta GA home sales are beginning to look like the start of a perfect storm for real estate. A combination of frustrated buyers from a lack of inventory, and sellers starting to put their homes on the market may mean the spring selling season could poised for a surge… one for the record books.

Typically, the spring selling season (March through June) is when more than half of all homes in the U.S. are sold. The market is getting a later start than usual this spring due to the bad weather all over the country.

Alpharetta GA home sales declined in February to the lowest level since mid-2012, with the number of contracts signed with the intention of buying falling to the lowest level since 2011.

Applications for mortgages to purchase homes dropped in February to the lowest since 1995, according to an index from the Mortgage Bankers Association that is seasonally adjusted. By mid-March, the gauge regained about 12 percent from that low, while remaining about 17 percent below the level it was during the same week in 2013.

Nationwide, U.S. home prices rose 12.2 percent in February compared to February 2013, up slightly from January's year-over-year pace of 12 percent. The number of available homes remains below the level typical of a healthy market.

Alpharetta GA Home Sales May See Exaggerated Bounce

Fannie Mae and the Mortgage Bankers Association are predicting 2014 Alpharetta GA home sales to see a bit of an exaggerated seasonal bounce due to so many eager buyers wanting to purchase homes.

Lenders expect Alpharetta GA home sales to pick up because so many potential home buyers want to lock in a mortgage ahead of any possible uptick in mortgage rates.

Borrowing costs have risen as the Federal Reserve continues tapering stimulus efforts that have kept interest rates low. Policy makers cut monthly bond purchases to $55 billion this month, from $85 billion last year. Fed Chair Janet Yellen said the program could end this fall and that the benchmark interest rate, which has been close to zero since 2008, may rise six months after that.

Nationally, the supply of homes for sale is bigger than last year, according to the National Association of Realtors. At the current sales pace, it would take 5.2 months to sell the properties on the market in February, compared with 4.6 months a year earlier.

Alpharetta GA home sales are expected to pick up momentum as we head into the second half of April and into May and June. Watch for the housing market, like the rest of the economy, come to live in the next couple of months.

For more on Alpharetta GA home sales, including other news relating to Alpharetta GA real estate, visit our Alpharetta GA Real Estate News section of articles under our Alpharetta GA Real Estate Categories to the right.

Alpharetta GA real estate, homes and land, is our specialty at Home Hunters Realty. Visit our Atlanta Metro real estate website, designed to help you, the homebuyer, make an intelligent home buying decision, and provide you with a complete resource guide for Atlanta Metro real estate, including Alpharetta. To begin searching for Alpharetta real estate now, simply click the "Search for Alpharetta GA Homes" link at the top or bottom of this page.
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Alpharetta GA real estate is now fully into quarter number two, and we're still curious to see where 2014 is headed.

In 2013, Alpharetta GA real estate was up, along with most markets across the U.S. Now that the first quarter of 2014 is in the books, Alpharetta GA real estate continues to improve, although not at the pace we saw in 2013, but we have a lot of real estate sales months to go before we can say that 2014 was better or worse than 2013.

Brock Maclean, EVP of Homes.com takes a look at housing for 2014, offering his thoughts and insight on the housing recovery, home affordability, and mortgage rates…

If you're in the market for Alpharetta GA real estate, contact us today. We can assist you in finding the right Alpharetta GA real estate for your budget and needs, while at the same time, offering you our professional expertise. This means when shopping for Alpharetta GA real estate, you will have professional help, while not costing you any more than going it alone. Why would you buy any other way? Contact us for assistance in buying any Alpharetta GA real estate.

Alpharetta GA real estate, homes and land, is our specialty at Home Hunters Realty. Visit our Atlanta Metro real estate website, designed to help you, the homebuyer, make an intelligent home buying decision, and provide you with a complete resource guide for Atlanta Metro real estate, including Alpharetta. To begin searching for Alpharetta real estate now, simply click the "Search for Alpharetta GA Homes" link at the top or bottom of this page.