Alpharetta Cumming Lake Lanier Real Estate Blog: March 2011

RISMEDIA, March 25, 2011—According to the latest Spending and Saving Tracker from American Express, more than two in five (41 percent) of Americans said that it’s a buyer’s market for real estate. However, over 61 percent agree that a seller’s market is at least a year away.

Other findings:
• Homeowner confidence on whether they would receive the asking price for their home is nearly evenly split—43 percent said they are confident they would; 47 percent are not very or not at all confident.
• However, many homeowners—39 percent—are not willing to settle for less than the asking price, even considering the tough real estate market, in contrast to 23 percent who are willing and 38 percent who are not sure.

• To sell their home in the current market, 44 percent of homeowners note that they would be interested in including appliances, while 28 percent would consider offering to make requested repairs or allowing an allotment for repairs.

If your thinking of buying or selling, call Mike & Melody now.

Labels: Alpharetta, best realtor in town, cumming, dawsonville, Milton, time to buy a home

We are pleased to announce that Covenant Mortgage Corporation (our preferred Lender) and its associates are merging interest with Supreme Lending of Dallas, Texas

Why Are they Transitioning?
This merger will enable them to transition from their current "brokering" model to a "mortgage banking" model creating the solid foundation for superior customer service and increased speed in each transaction. Their goal is to establish the industries best "Customer Experience" for our clients.

Why Supreme Lending?
They explored a multitude of potential partners over the past two years. Supreme Lending
is a 2 Billion Dollar National Lender whose outstanding reputation with their bankers and customers has proven their attention to character, competency and chemistry in this industry.

What Does This Mean For You?
• Local Underwriting, Processing and Closing
• Local Decision Making...Common Sense Approach to Lending
• Coming Soon...7Day Approval, 10 Day Close
• Package to Attorney 48 Hours Prior to Closing
• Settlement Statements Delivered 24 Hours Prior To Closing
(With Covenant Chosen Firm)
• FHA, VA and Conventional

For More Information Call or Email our preferred loan officer
Phil Blankstein
Senior Loan Officer
Cell 678-938-7111
phil.blankstein@supremelending.com
NMLS # 251790, GA License# 26422

Labels: alpharetta homes for sale, best mortgage, cumming homes for sale, thinking of buying a foreclosure

Weed & feed is the generic name for a broad range of lawn chemical products designed to strengthen existing grass and kill off certain weeds in a single application. It generally improves your lawn’s ability to absorb water and food, and adds necessary nutrients which promote healthy growth. A healthy lawn, in turn, discourages weed propagation, enabling the use of a reduced amount of the product over time.

The “weed” portion of weed and feed is one of a variety of broad leaf-targeted herbicides (usually Dicamba, 2,4-D, and/or MCPP) that attacks dandelions, dollarweed, and most other green leafy weeds. The chemical is usually sold in granules that are applied to and subsequently absorbed by the leaves of the weed. The granules will not sit on grass blades, which is why weed and feed generally doesn’t kill regular grass unless it is incorrectly applied (over-saturating, especially, can cause grass death). There are also liquid forms of weed and feed that are generally applied with a foaming sprayer. The same concept applies for the foams: they sit on and are absorbed by large weeds, while they run off of grasses.

The “feed” portion of weed & feed is a fertilizer that contains some combination of nitrogen, phosphorous, and/or potassium to green up your lawn. The exact blend of fertilizer ingredients varies by brand, but all products will contain some percentage of nitrogen. Some products also include additional benefits, such as timed-released nitrogen for extended feeding.

When to Apply Weed & Feed
It’s important to apply weed & feed when weeds are actively growing. Applying weed & feed during the winter will have absolutely no effect on the lawn in the following spring and summer. You should spread weed & feed on damp/wet grass (use a sprinkler or apply just after rain) so that the granules stick better to the leafy portions of the weeds.

You should also pick a time when no additional rain is expected for two days, and you should avoid watering your lawn over this period. This allows time for the herbicide to absorb into the leaves. If it does rain or the lawn gets drenched, it will wash the granules off the leaves. In this case, however, you cannot re-apply the chemical immediately because you will over-feed the lawn and potentially cause a chemical scorch.

How to Spread Weed & Feed
There are a few important details to remember when spreading weed & feed. Keep all of these in mind when planning the job to achieve the best results. Note that these tips are not intended to replace manufacturers instructions, though you will find most manufacturers will recommend some variation of these tips.

■Make sure your lawn is a normal height (not too tall, not too short) – approximately 3-5 inches is good.
■Wait 2-4 days after mowing before applying. This protects your grass and helps ensure the weeds are actively growing. It also allows some of the leaves on the weeds to grow that may have been cut during mowing.
■Don’t water the lawn for two-four days after application. (Which means you shouldn’t apply the granules during a dry / hot spell).
■Be careful not to apply too much product as this will scorch your lawn. Check the manufacturer’s guidelines. Scorching occurs when you over-saturate the soil with the feeding chemical.
■Only apply weed & feed twice per year. Over-application can result in run-off that is harmful to the environment, such as nearby rivers, bays, or lakes/ponds. The feed portion of the chemical is actually more dangerous in these environments as it can encourage algae blooms which choke out fish and native plants.
■Be sure to spread the herbicide uniformly across the lawn for best results. You may choose to use a broadcast spreader and make two passes at half-application strength, rather than trying to spread at full strength in the first pass.
■Avoid spreading granules onto flowers, vegetables, and ornamental shrubbery. It will kill most broad leaf plants, regardless of whether you consider them weeds. If you must spread near a garden, either use a drop spreader or consider laying plastic temporarily over the area near where you will be spreading.
Planting Grass or Aerating after Weed & Feed
Weed & Feed prevents seed germination, so you should avoid planting new grass or aerating your lawn for at least four weeks. We recommend waiting longer, though. If you weed & feed in the spring and summer, spread grass seed and aerate in the fall each year.

Reasons Weed & Feed Didn’t Work
Here are some common reasons that weed & feed was ineffective:

■Weed & feed targets broadleaf weeds like dandelions, and dollarweeds. It does nothing for crabgrass and other grassy weeds. For these, you should use a crabgrass preventer in early spring. Make sure your weeds are on the list that the chemical targets.
■Mature weeds are not actively growing, so the product wasn’t as effective. Weed & feed should be applied early in the growing season and a couple days after mowing.
■Rain and sprinklers can wash away the granules. Make sure there is no rain in the forecast and avoid watering for two days after applying.
What if You Apply Too Much Weed & Feed?
The best way to avoid damaging your lawn is the flush out the weed & feed. Water your lawn with 1 to 2 inches of water for about 4 days. Don’t apply any other weed & feed until the following year.

Unfortunately, over watering like this can create run-off in certain drainage situations, so try to avoid the situation in the first place.

Safety Considerations & Pets
Like every lawn chemical, standard precautions should be followed before applying weed and feed or any herbicide to your lawn. These safety instructions are NO substitute for manufacturers guidelines. Be sure to read the safety instructions on the bag and follow them.


■Wear long pants and long sleeves and gloves during application. Herbicides like Dicamba, 2,4-D, and MCPP can cause serious skin irritation.
■Avoid contact with eyes. If you get the dust of the product in your eyes, flush them for 15 minutes with water.
■Never ingest the product, leave the product where a child could ingest it, or leave it open for pets. Weed and feed chemicals can be harmful or fatal if swallowed. If swallowed, you should call 911 or a poison control center immediately.
■Keep pets and children off the lawn until after the first drenching rain after application. Visually inspect the lawn to ensure the granules are completely dissolved.

Labels: advice from your realtor, get your home ready for sale

March 15th, 2011
Mortgage markets improved last week in a week of few economic releases. The one major data point - Retail Sales - showed stronger-than-expected, but markets reacted mildly. The report's strength was whispered in advance of the actual release; its reading validated Wall Street's growing faith in the U.S. economy.

Most action last week revolved around the Middle East:
• Libya's internal turmoil continued
• Bahrain clashes intensified
• Saudi Arabia's citizens planned a Day of Rage
In response to these events, Wall Street continued its flight-to-quality. Mortgage-backed bonds are now at their best levels since early-February. Mortgage rates have improved 4 straight weeks.

Unfortunately for rate shoppers, the gains have been meager. Conforming mortgage rates have only dropped slightly.

This week, however, the market could move in either direction.

The biggest news on tap is the Federal Open Market Committee's 1-day meeting, scheduled for Tuesday. The Fed is expected to leave the Fed Funds Rate near 0.000 percent, but that doesn't mean that mortgage rates won't change. The FOMC's post-meeting press release will be closely scrutinized on Wall Street. Any changes in theme, tone, or message will cause mortgage rates to dart.

This week also marks the return of housing data with Housing Starts, Building Permits, and Homebuilder Confidence due for release. Housing is believed to be key to the economic recovery so strength in these reports should lead mortgage rates higher.

In addition, several inflation-related data sets will be released including Consumer Price Index and Producer Price Index. Inflation is generally bad for mortgage rates and with gas prices rising to a multi-year high, pressure will be on for mortgage rates to rise.

Lastly, there's Japan.

The nation's earthquake, tsunami, and (now) looming nuclear threat will have implications on the global bond market. Mortgage rates may benefit while the crisis remains unresolved.

If you've floated a mortgage rate over the past few weeks, it may be time to lock that rate down. Economic factors should be pushing rates higher, but geopolitics and natural disasters are keeping them low.

It's a perfect time to commit to a loan. Please call our preferred mortgage lender today if you have any questions.

CURRENT RATES (PURCHASE TRANSACTIONS)
Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.75 %
15-yr Fixed = 4.00 %
Conforming ARMS*
Conforming 5/1 = 3.375%
Conforming 7/1 = 3.875%
Jumbo Loans:Loan amounts over $417,000*
5/1 ARM = 3.875%
7/1 ARM = 4.25%
10/1 ARM = 4.875%
30-year Fixed JUMBO = 5.50%
FHA Loans:*
30-yr Fixed = 4.50%
5/1 ARM = 3.875 %

Call Phil Now For More Details!
*Based on pricing as of Monday, March 14th, 2010 at 12:00PM.
Prices, guidelines, and programs subject to change without notice. Subject to errors and omissions.
This information is not intended to constitute an advertisement for purposes of the Truth-in-Lending Act or Regulation "Z". It is intended solely for use by Real Estate professionals.
Residential Mortgage Licensee: GA Licensee # 22745, Florida Licensee # CL0800186,
North Carolina Licensee # B-147025, Covenant NMLS # 144774


For More Information Call or Email
Phil Blankstein
Mortgage Planner
Cell 678-938-7111
phil.blankstein@mycovenantmortgage.com
NMLS # 251790, GA License# 26422

Labels: cumming homes for sale, current mortgage rates, homes for sale in alpharetta

FHA: Monthly Mortgage Insurance Premiums To Rise April 18th, 2011
For the third time in 12 months, the FHA is changing its mortgage insurance costs.

Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.

The change will add $250 to an FHA-insured homeowner's annual loan costs per $100,000 borrowed, and applies to all borrower's equally. Current FHA borrowers are unaffected.

To understand the FHA is to understand why premiums are rising.

As an institution, the Federal Housing Administration plays a much larger role in the U.S. housing market today than it did just 5 years ago. According to its own records, the FHA's percentage of purchase money business nationwide expanded from 4 percent in FY 2006 to 19 percent in FY 2010.

Rapid growth like this has strained the FHA's capital and, indeed, in its official statement, the FHA alludes to this, stating that the MIP increase will "significantly strengthen" its reserves. By law, the FHA must maintain a certain minimum level of reserves.

FHA mortgage insurance varies by loan term, and by loan-to-value and, beginning April 18, 2011, the new insurance premiums are as follows:
• 15-year loan term, loan-to-value > 90% : 0.50% per year
• 15-year loan term, loan-to-value <= 90% : 0.25% per year
• 30-year loan term, loan-to-value > 95% : 1.15% per year
• 30-year loan term, loan-to-value <= 95% : 1.10% per year
To calculate your monthly mortgage insurance premium, multiply your starting loan size by your insurance premium, and divide by 12. There is no change planned to the 1 percent upfront mortgage insurance premium charged by the FHA.

Please call us if you have any questions.

Labels: cumming homes for sale, FHA, FHA mortgage insurance