Alpharetta Cumming Lake Lanier Real Estate Blog

February 19 - August 14, 2011
at Fernbank Museum of Natural History, Atlanta, GA
Price: $15 for adults, $14 for students/seniors, $13 for children ages 12-3, free for children 2 and younger, free for museum membership:
http://www.fernbankmuseum.org/
Discover how living and prehistoric animals inspired dragons, unicorns, mermaids and more as you learn how cultures throughout time have created mythic creatures to explain the natural world, express thoughts and share beliefs. Investigate authentic artifacts, fossils and dramatic models as you explore the stories, traditions and dances that celebrate these magical beings. Highlights include a 17-foot dragon, a 10-foot unicorn, a swooping winged Roc, a kraken surfacing from the sea, and more.

Labels: best realtors in town, fernbank, great fun for the kids

Ability is what you are capable of;
Motivation determines what you do;
Attitude determines how well you do it!

Labels: alpharetta homes for sale, best realtors in town, cumming homes for sale

Mortgage markets gained last week as a combination of safe-haven buying and an improving economic outlook attracted new buyers. Demand for mortgage-backed bonds outweighed supply and conforming and FHA mortgage rates edged lower.

Last week marked the second straight week that mortgage rates fell. Rates had risen over the previous 7 weeks.

According to Freddie Mac's weekly mortgage rate survey, the national average rate for a 30-year fixed rate mortgage is 4.77 percent with an accompanying 0.8 points required.

This week, with no new data due for release, look for last week's two biggest stories - jobs and debt - to carry forward. The first such story relates to jobs.

Friday, the Bureau of Labor Statistics released its monthly Non-Farm Payrolls report. Consensus estimates were for 150,000 net new jobs created December, with "whisper numbers" pegging the number as high as 250,000. Mortgage rates increased on the chance that the rumors were right.

It turned out, they were not.

Accounting for revisions to past months' data, December's jobs data was in-line with expectations, resulting in a mortgage rate retreat that lasted all day Friday. That momentum should carry forward into the early part of this week.

The second story is tied to safe-haven buying.

The U.S. mortgage market benefited from growing concerns within the Eurozone that Portugal could default on its debt. The story emerged three weeks ago when Portugal's debt was downgraded. It picked up steam last week after a weak debt offering. It's a similar beginning to what transpired in Greece last spring.

Mindful of their respective risk, worldwide investors chose to shift risk toward safer asset classes which includes, of course, mortgage-backed bonds. This week, those risks will remain and the flight to quality assets should continue. Mortgage rates will benefit.

Given the likelihood that mortgage rates will fall this week, it may be tempting to let your mortgage rate float. That strategy could prove foolish.

Mortgage rates fell to historic lows in 2010 and sprung higher at the first possible opportunity. Rates remain at ultra-low levels and have lots of room to rise. Give me a call to discuss the opportunity that is right for you.

Labels: best realtors in town, future mortgage rates

December's Job Report : Good For Home Affordability
On the first Friday of each month, the Bureau of Labor Statistics releases its Non-Farm Payrolls report. More commonly called "the jobs report", the government's data include raw employment figures and the Unemployment Rate.

For this month, and for the rest of 2011, employment data will figure big in mortgage markets.

7 million jobs were lost in 2008 and 2009. Fewer than one million jobs were recovered in 2010. For the economy to fully recover, analysts believe that jobs growth is paramount.

Consider how job creation influences the economy:
1. More jobs means more income and more spending
2. More spending means more business growth
3. More business growth means more job creation
It's a self-reinforcing cycle and, as business grows, the economy expands, pushing stock markets higher. This tends to lead mortgage rates higher, too, because bonds can lose their appeal when stock markets gain.

According to the government, 103,000 jobs were created in December, and October's and November's figures were revised higher by a net 50,000 jobs for a total of 153,000 new jobs created. Economists expected a net gain of 135,000.

The Unemployment rate fell to 9.4, its lowest level since mid-2009. The December jobs report was "average", and home affordability is improving.

Labels: best realtors in town, current jobs report, forsyth county homes for sale

Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.750% Purchase Only
15-yr Fixed = 4.125% Purchase Only

NEW!
Conforming 5/1 = 3.50% amortized; 3.75% interest only
Conforming 7/1 = 3.875% amortized
(Consult your Covenant Mortgage Professional for Refinance Quotes)

Jumbo Loans:Loan amounts over $417,000*
5/1 ARM = 4.25%
7/1 ARM = 4.50%
NEW! 30-year Fixed JUMBO = 5.625%
FHA Loans: *
30-yr Fixed Range = 4.50% - 5.00%
NEW! FHA 5/1 ARM = 3.50% Qualify at Start Rate

Call Our Preferred Lender Now For More Details!

Phil Blankstein
Mortgage Planner
Cell 678-938-7111
phil.blankstein@mycovenantmortgage.com
NMLS # 251790, GA License# 26422

*Based on pricing as of Friday, January 7th, 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

Labels: best lender in town, best realtors in town, low mortgage rates

Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.75% Purchase Only
15-yr Fixed = 4.25% Purchase Only

NEW!
Conforming 5/1 = 3.50% amortized; 3.75% interest only
Conforming 7/1 = 3.875% amortized
(Consult your Covenant Mortgage Professional for Refinance Quotes)

Jumbo Loans:Loan amounts over $417,000*
5/1 ARM = 4.25%
7/1 ARM = 4.50%
NEW! 30-year Fixed JUMBO = 5.625%
FHA Loans: *
30-yr Fixed Range = 4.75% - 5.00%
NEW! FHA 5/1 ARM = 3.25% Qualify at Start Rate

Call Me Now For More Details!
*Based on pricing as of Friday, December 31st, 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 Mike and Melody's preferred lender
Phil Blankstein
Mortgage Planner
Cell 678-938-7111
phil.blankstein@mycovenantmortgage.com
NMLS # 251790, GA License# 26422

Labels: best lender in town, best realtors in town, current mortgage rates

In a holiday-shortened trading week, mortgage markets tanked last week, casting doubt on whether the bond market's 7-month bull run will continue. Fears of inflation caused conforming mortgage rates to rise.

Last week marked the first sizable mortgage rate increase over the course of 7 days since April.

The biggest reason why rates rose last week was because of concerns that the Federal Reserve's latest round of stimulus will devalue the U.S. dollar.

The Fed pledged an additional $600 billion to the bond markets two weeks ago and, to meet this obligation, the group will have to, quite literally, print new money.

It's Supply and Demand. With more dollars in circulation, every existing dollar is worth less.

It's also inflationary.

As the Fed's pledge ties back to mortgage rates, remember that mortgage bondholders are paid in U.S. dollars. So, if those dollars are expected to be worth less in the future, we would expect mortgage bond demand to fall. And that's exactly what happened last week - investors rarely clamor for assets whose value drops over time.

The falling demand dropped down prices, and pushed up yields. Mortgage rates spiked.

This week, the trend could continue. There's a lot of inflation-signaling data on tap:
* Monday : Retail Sales
* Tuesday : Producer Price Index; Consumer Confidence; Housing Market Index
* Wednesday : Consumer Price Index; Housing Starts
* Thursday : Initial and Continuing Jobless Claims

Analysts are calling for lukewarm data this week; none of the releases is expected to show strong growth. If the analysts are wrong, look for rates to rise again.

Momentum is moving away from rate shoppers. If you have put off making a decision on putting an offer on a home, wait no more! If you've yet to lock in a rate, consider doing it now.

Call us TODAY!

Labels: best realtors in town, homes for sale in cumming, low mortgage rates

New Hope In Africa is a newly formed Christian based nonprofit organization. Mike and Melody Vanderhoff formed this organization to initially work in Mozambique and will branch out to other countries in Africa when the opportunity arises. Our goals are to provide safe clean drinking water to the people of Mozambique, by drilling wells or rehabbing existing wells. Our plan is to first provide the water, then plant a church and next a school. We have a Non Government Organization (NGO) partner in Mozambique, New Hope Association. This organization was formed by Dr. Zefanias Chihulume a native of Mozambique. Zef was educated in the USA and could find no higher calling than to serve the people in need in his home country. Zef is also one of the Board of Directors of New Hope In Africa. Our web site www.newhopeinafrica.org will be up soon. Join us on Facebook under New Hope In Africa.

Labels: best realtors in town, missions

Mortgage markets were highly volatile, yet relatively unchanged last week in back-and-forth trading on Wall Street. Global investors are grappling with the state of U.S. economy and unable to discern whether it's growing, or slowing.As an real-world illustration, the government's August Retail Sales report showed strong growth nationwide. However, in looking at a subset of that same data that accounted for rising gas prices, and excluded automotive-related sales, the results were far more tame. In other words, despite the winning headlines, there was no clear conclusion in August's Retail Sales.

As another example, consumer confidence dropped to its lowest level since August 2009, it was reported last week. Now, on most days, this statistic would lead mortgage rates lower, but the figures happened to be offset by improving employment report that suggests a looming jobs recovery.

Again, markets got confused and without clear direction, mortgage rates have been dancing. Last week, conforming rates carved out a range close to 0.375 percent, making it difficult for rate shoppers to zero-in on pricing. 30-year fixed rates worsened, 15-year fixed held steady, and ARMs improved overall.

This week, expect rates to be equally jumpy. There's a lot of housing data due for release and the Federal Open Market Committee is meeting.
• Monday : Homebuilder Confidence Survey
• Tuesday : Housing Starts, Building Permits, FOMC Meeting
• Wednesday : FHFA Home Price Index
• Thursday : Existing Home Sales
• Friday : New Home Sales

That's one housing-related release per day, and a Federal Reserve meeting to boot. Today's low rates could be vanished by Friday. Therefore, if you haven't already, it may be time to call in and check on refinancing. Rates could certainly fall further, but they're looking more likely to rise.

Labels: Alpharetta, best realtors in town, cumming, mortgage rates

Forsyth County Residents, You better leave for work a little earlier today. School is back in session. Watch out for the little ones and be patient in the traffic.

Labels: best realtors in town, cumming homes for sale

News
Hackers release new version of iPhone Jailbreak app
By Jeremy Kirk
August 2, 2010 08:28 AM ETComments (9)Recommended (3)FacebookTwitterShare.IDG News Service - The latest version of software that allows iPhone owners to install applications not approved by Apple has been released just days after the practice was declared legal under U.S. copyright law.

JailbreakMe 2.0 can be installed by going to its developers' Web site, jailbreakme.com, where it is installed via the Safari Web browser. One of its developers, Comex, wrote on Twitter that there were initial problems with JailbreakMe and the MMS (Multimedia Messaging Service) and FaceTime video chat functions, but those problems are now fixed.

The practice of jailbreaking was illegal under the Digital Millennium Copyright Act (DMCA), which prohibits the circumvention of copy protection mechanisms. But last week the Librarian of Congress issued a batch of exemptions, ruling that the installation of legally acquired third-party software for non-infringing reasons on mobile phones doesn't violate U.S. copyright law.

Jailbreaking also allows an iPhone to be used on other phone networks. Apple's exclusive agreement with AT&T to offer the iPhone is being challenged in a class-action suit filed last month in which customers contend the two companies secretly agreed to unfairly "technologically restrict voice and data service" for five years.

Apple, which has never pushed for prosecuting someone for jailbreaking their iPhone, nonetheless discourages the practice, saying that it could interfere with the phone's normal operation. Jailbreaking also will potentially invalidate the iPhone's warranty, Apple has warned.

Apple's regular iPhone software updates often also invalidated the jailbreak modifications, and the jailbreaking software had to be regularly updated.

Labels: best realtors in town, iPhone 4, Jailbreak

CURRENT RATES (PURCHASE TRANSACTIONS)

Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.875% Purchase Only
15-yr Fixed = 4.00% Purchase Only

NEW! Conforming 5/1: 3.50% amortized; 3.75% interest only
Conforming 7/1: 4.00% amortized
**HOT PRODUCT Conforming 10/1: 4.50% amortized!!!**

Consult your Covenant Mortgage Professional for Refinance Quotes

Jumbo Loans: Loan amounts over $417,000*
5/1 ARM = 4.50%
7/1 ARM =4.875%
Hottest JUMBO Loan...90% No PMI up to $500,000!
Call Me Now For More Details!

FHA Loans: *
30-yr Fixed Range= 4.875% - 5.25%
NEW! FHA 5/1 ARM: 3.875% Qualify at Start Rate

*Based on pricing as of Friday, April 30th, 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 Residential Mortgage Licensee#CL0800186, NorthCarolina Licensee #B-147025
Covenant NMLS# 144774,

If your thinking about buying a new home, now is the time. Just call Mike and Melody and let them help you find the perfect place.

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

Fire Department
Ban on Outdoor Burning Goes Into Effect May 1
Ban lasts until October
A countywide, state-mandated ban on outdoor burning goes into effect May 1 in Forsyth County and lasts through September 30. The ban prohibits all outdoor burning including the burning of leaves, trash, yard debris and storm damage.
The Georgia Environmental Protection Division imposes the ban on outdoor burning to comply with Federal Clean Air Regulations. During the summer months in Georgia, the ozone in the air can reach unhealthy levels. Open burning has been identified as a significant contributor of the pollutants that form ozone.
Limited exceptions to the ban include recreation/cooking fires, campfires in approved areas and open flame equipment/tar kettles/etc. No notification to the Forsyth County Fire Department or the Georgia Forestry Commission is required for these types of burns. To receive more details regarding outdoor burning regulations, visit www.forsythco.com or call the Forsyth County Fire Department Fire Marshal's Office at 678.455.8072.

If you are looking for a home in Forsyth county, Mike and Melody Vanderhoff are the right choice to help you find the perfect place.

Labels: best realtors in town, burning ban, forsyth county, homes for sale in cumming