Teena Regan

Builders are encouraged by the recent news!!! That's always a good sign!

2009-06-15T18:52:00Z

We don't get to hear a lot of good news regarding housing right now, so I always love to bring the one to bring it to you! If you're willing to work hard enough and look hard enough....you will find good news!!!!

While new home sales are still very weak, they are expected to begin a slow rebound next quarter. Fitch Ratings and the National Association of Home Builders point out that sales are likely to pick up slowly as customers come back into the market and as new home sales continue to compete against existing homes and foreclosed homes.

Fitch estimates that new home sales for 2009 will be down about 30%, with the worst comparisons being in the first half of the year and then picking up.

"This is a very tentative expectation of something close to a 20% increase next year off of this cyclical low. But it's still early in the game," said Bob Curran, managing director of corporate finance and lead homebuilding analyst at Fitch Ratings.

Come on folks! Now's the time to buy or sell!!! I do it every single day for my clients!!!!!

Make it a great day!!!

Teena

Tell me something good!!!

2009-04-24T12:38:00Z

Good Morning Bloggers!

I am always looking for good news when it comes to real estate and it's not too hard these days! The FH Index showed an increase in home sales for the past 2 months. That is the first time since June 2007 that this has happened. Are you wanting to sell? Are you wanting to buy? I can't imagine a more perfect time for both. It is a small window for sellers but all the numbers are lining up turning towards a sellers market so if you've been thinking about it.....do it now! It's the perfect time of year! BUYERS....if you've been sitting on that fence. GET OFF! It's not going to last much longer and you're gonna be kickin' yourself for just not doing it and paying thousands more in just a few months!!!

Have an awesome day guys!!

Teena

RUK??? Who wouldn't buy a home today?

2009-03-25T15:31:00Z

Well the easy answer is only the people who have to sell an existing home first!!!

Never, never, never has there been a more opportune time for buyers than today. The lowest interest rates in 30 years PLUS the lowest price homes in 20 years! Come on people! Don't make a $30,000 mistake just b/c you want to wait a year! It's the biggest and best investment in your life! Why not start it out right?

OUCH!!! I just fell of my soapbox..........

Are 4.5% interest rates really possible right now?

2008-12-09T16:46:00Z

4.5% Rates Possible?

The news is abuzz about the Treasury lowering home loan rates to 4.5% to stem the foreclosure crisis but details have been lacking. The Treasury Department stated it is looking for additional ways to help the struggling housing industry and believes lower rates are needed.

This idea is similar to the November 26th announcement from the Federal Reserve where they indicated the intent to purchase up to $500 billion in mortgage-backed securities from Fannie Mae, Freddie Mac and Ginnie Mae. In addition they would buy another $100 billion in direct debt issued by those firms. The November news caused bond prices to spike higher and forced mortgage rates lower. Just like any commodity, whenever tremendous buying interest exists, prices rise. Mortgage rates fell almost 1/2% in rate following the announcement. However, the following week market forces continued and rates spiked a bit higher from the recent lows.

It is important to remember that there are no details to the Treasury plan as of yet. The Federal Government does not directly dictate home loan rates. Rates are determined by price movements of Mortgage Backed Securities (MBS), which compete for investor funds in the open market. The Treasury can buy mortgage bonds on the open market but remember that they are not the only entity buying and selling these instruments.

The Treasury is in a very tough position in trying to manipulate home loan rates. Creating a new Federal mortgage program could be very risky. How would rates be set, who would qualify, and can the funds be used for purchases and refinances are just some of the questions being asked. The other critical concern is implementing such a program without destroying the current mortgage securities market. Doing so could have the unintended consequence of causing additional economic turmoil.

Rates are not going to 4.5% with the wave of a wand by Hank Paulson or Ben Bernanke. As a matter of fact, the massive borrowing to fund the TARP program has a negative effect on rates. At this time, the announcement still leaves a lot of uncertainty. What we do know is that rates are at historic lows and house prices have moderated setting up a great scenario for people who need to refinance or are looking to buy a home. Waiting for rates to fall to 4.5% may leave people sorely disappointed.

Why aren't the banks lined up to receive their fair share of the bail out???

2008-10-27T20:40:00Z

I mean wouldn't you think that when the government is offering a bail out to the banks, the banks would be lined up for their fair share of the money? So why aren't they?

It's really rather simple if you look at it in layman's terms: (which are the only ones I know)

All banks have camel ratings:

1- Top bank with lots of capital and liquid equity

2- Great bank with good ratio of capitol and liquid equity

3- Good bank with 15% or more of capital and liquid equity

4- Good bank with 10% or more of capital and liquid equity (most newer banks rates)

5- Bank that has had some issues with maintaing capital and holds many bad assets or loans

The Legislative branch of the government get together and, heaven forbid, even work a weekend for what they term "the biggest financial crisis of our lifetime". They decide that they must step in and "rescue" the banks.

How? Well by bailing them out financially? "We must rescue the middle class! Of course while we're up here rescuing the nation from the biggest financial crisis of our lifetime, there are a few earmarks that we would like to add to this "finacial rescue package"!" Couple of studies for cloves and the affect they have on men vs. women's libido. A case study for whether or not the caribou can remain unscathed when man has entered their environment? ETC.....19 earmarks tagged to the most important bill of our lifetime! WHEW! Thank you Federal Government! I don't know about you all, but I could care less what cloves do to men vs. women or any other earmark they broached during this week long bail out session!!!

Okay....so banks 1 & 2 are first in line for the government bail out. Of course with the feds there is always something attached to the money. In this bill the government says to banks 1 & 2- "We'll give you the money, but we want you to buy out banks 3,4, & 5 and rescue all their bad investments". Banks 1,2 say "Why? Why would we want to buy up stocks on banks that are already struggling, have minimal capital, high risk loans and to top it off pay you interest on the money that you give us to buy up these struggling financial institutions when we have nothing but sound capital and liquidity based on our loan practices over the years?" The government says, if you don't- we will not give you the money! Banks 1 & 2 say "see ya"!! It really is that simple! Why do you think the money is still sitting in Washington? They can't get anybody to take it! CAPITALISM.....Ain't it grand?

Pending home sales show surprise rise!!!!

2008-10-10T16:19:00Z

What? Rise in home sales? Surprised? Not if you've been reading my blogs! Listen up friends!!! The media cannot drive the housing market! No matter how hard they try to tear it down, scare the pants off everyone, or make you want to just sell your home and move into a nice, big, roomy cardboard box!!!! The market is controlled by just that....THE MARKET! That's us folks! We are the market! We are the engine that drives the market! Every single day we buy and sell homes! We invest in the market every time we pay our mortgages, taxes, insurance! Every time we go to the grocery store, buy gas, go out to eat, go to a movie, buy our kids clothes, toys!

Our pending home sales rose from July to August 7.4%! The highest since June 2007! Have you noticed any parting of the seas since congress stepped in and "rescued" the banking financial crisis? I have...I've noticed the Dow has dropped an average of 500 points per week. The global market has dropped by 10%! Yep......we definitely need congress! BLAH! BLAH! BLAH! They need us! We are and have been the greatest nation on earth since our inception over 200 years ago! WHY? Because of our people, our ingenuity, our work ethics, our values!!!

As for my business in this slit your wrist world of Real Estate! Couldn't be better!!! I work 50-60 hours per week. I have buyers, sellers, closings all going on! I just had to do what everyone else has had to do! Be smart with my money! Smart with my time! Work a little harder, pray a little harder and BEG government to get out of my way!!!!

You all are the greatest people on earth and I am blessed to be a part of this great lady that we call "AMERICA"!!! She is such an inspiring nation!!!!

Call me when your ready to sale your home for that move up into the cardboard box!!!!

Teena at www.theteenareganteam.com

Open House in Brookstone II on Sunday

2008-10-08T14:17:00Z

Brookstone II, Acworth - We invite everyone to visit our open house at 6015 Fairlong Ct on October 19 from 2:00 PM to 4:00 PM.

Property information

Open House in Brookstone II on Sunday

2008-10-08T14:16:00Z

Brookstone II, Acworth - We invite everyone to visit our open house at 6015 Fairlong Ct on October 12 from 2:00 PM to 5:00 PM.

Property information

Yep!!! Atlanta Market is okay!!!

2008-10-02T15:16:00Z

Hey Guys-

If they would only read my blogs, we wouldn't have a government freaking out! HA!!!

Below is an article published by the AJC no less! Usually the paper of record for slitting you wrist with the bad news! If they can see the market in a positive light, surely we all can!!! As I said on Monday.....Life is good! If you are thinking about buying or selling we would be honored to have the chance to sit down with you and prove to you why hard work and high end marketing makes the difference in selling your home and be able to show you exactly why Keller Williams won the 2007 Consumers choice award for buyers!!!!!

By Kevin Duffy

The Atlanta Journal-Constitution

Wednesday, October 01, 2008

Have Atlanta’s home prices hit bottom or are a series of small gains just a reflection of the season?

For three months now, resale prices of single-family homes in the metro area have been inching up, according to new data from a Standard & Poor’s/Case-Shiller Home Price Index.

“Atlanta, Dallas, Minneapolis and Tampa showed improvements in their annual and monthly returns, but all four are still too close to their recent lows to determine if the markets have stabilized,” according to an S&P release.

Meanwhile, the Case-Shiller indices of 10 and 20 cities show record one-year price declines through July, although the rate of decline is slowing. The indices are down 17.5 percent and 16.3 percent, respectively.

Metro Atlanta’s 1.3 percent price increase over three months is more likely a seasonal uptick than a true turnaround, local real estate experts say. Sales are traditionally higher in the summer than other times of the year.

“I really think we’re experiencing a little bit of that,” said Eugene James, director of housing research for Metrostudy in Atlanta. “There are too many unknown factors at this point in time.”

One factor is metro Atlanta’s elevated inventory in the resale market, which is keeping prices down. It’s about seven months above what it should be based on current sales, according to Dick Hearin, senior vice president of Coldwell Banker’s Builder Developer Services. Hearin compiles Multiple Listing Service and First Multiple Listing Service data.

Another factor is buyer trepidation. “We are at levels of the 1990s in terms of closings,” when there were fewer people, said Steve Palm, president of the real estate research company SmartNumbers.

“Our prices right now are below 2003,” Palm said. “Our median price in July was over $20,000 less than in 2007. We are decimated.”

Those willing to buy are having difficulty getting loans. “My concern is the credit markets,” James said. “The lending institutions are out of cash.”

Over a year’s time, prices in metro Atlanta are down 8.2 percent, about half as bad as the 20-city average, according to the S&P release.

“In Atlanta, we never saw home prices get that frothy,” so the dropoff has not been as steep, said Mercer University economist Roger Tutterow.

The pace of price decline nationally has cooled a bit. From May to June, home prices fell 2.2 percent; from February to April, the drop was 6 percent, according to the S&P release.

“There are signs of a slowdown in the rate of decline across the metro areas, but no evidence of a bottom,” said David Blitzer, chairman of S&P’s index committee.

Home prices around the country peaked in June 2006. Las Vegas, Phoenix and Miami have been the worst performers over the past 12 months. Prices have fallen 28 to 30 percent in those cities.

Atlanta’s June to July change was an increase of 0.4 percent, following 0.3 percent and 0.6 percent increases.

“I do think we’re quite close to the bottom for home prices in Atlanta,” Tutterow said.

Get past the negative media! It's not the end of the financial world!

2008-09-30T18:21:00Z

Does everyone have at least 1,000 bottled waters in their basement? Flashlights working? Plenty of candles? MRE meals? You would think we were seeing the end of our country if you were listening to the media!!

"IF OUR GOVERNMENT DOESN'T SIGN A RESCUE PACKAGE THE BANKS WON'T HAVE ANY MONEY TO LEND!"

False: The financial rescue package that congress is pondering over right now doesn't throw money into the market! The market has money! The problem is insuring the underwriters who are writing jumbo loans - $417,000 and up! Rates for those loans run 7.5-9% and have a high percentage of foreclosures!

So what does that mean to us?

It is all about location, location, location! If your living in Washington D.C. or New York City where the median home price is $450,000, then yes your local banks may feel that crunch somewhat, however, if you are living in the Metropolitan Atlanta Area where our median price point is $285,000, know that we're okay! There has been no change in our local interest rates since this bill was first talked about and we are closing houses daily!!

Get involved! Email your congressman/Senator and let them know what you expect of them!

Life is good!!!!!

Teena

Is the Government going to bail out Wall Street?

2008-09-29T18:23:00Z

Wow!!! It looks as if the Republicans holding out has caused the bail out to not pass! It is hard enough to figure out why Wall Street allowed this to happen in the first place, but to add insult to injury, we've now thrown socialism government into the mix! I truly believe that if we don't throw money at the problem, that our capitalistic country will right itself!! It always has!!! Believe me...these companies not having the bail out to fall back on will amazingly create some ingenuity on how to rescue and right themselves! Hang in there Americans!! We are the Greatest country in the world for a reason!!

Who's right on the bailout? Republicans or Democrats!

2008-09-27T21:13:00Z

Well the answer to that question is actually both of them in a way! Both parties have come to an agreement on what shoud be done to bailout AIG and open up lending for our banks! That's the good news! The bad....well, of course there is some battle going on about how to protect the taxpayers. The Republicans in the house are holding out for some legislation that protects the taxpayers. i.e.,,,,financial institutions want to borrow, they pay back with interest! We (taxpayers) hold the lien on the financial institutions! To put it in a nutsell. Would you buy anything where you didn't receive either a title or a bill of sale? HECK NO!!! In my humble opinion, the latter is the only way!! We still get the bailout, which we MUST have, but we should absolutely, positively be reimbursed WITH INTEREST for our contributions to the bailout!

It is certainly scary times, but I do believe that we are actually on the road to recovery! You have to clean up the messy diaper to get to the butt cheeks!! We are cleaning up that diaper right now and I, for one, can see the market rebounding within a minimum of 6 months- 1 year!

What is going on with Wall Street? Does it affect me?

2008-09-23T13:17:00Z

What is happening with our Government and Financial Institutions right now? Well to make a long story short, we have NO choice but to bail out these institutions! If we don't, the reprecussions could be at best a depression! It affects us as homebuyers, sellers, and taxpayers! The benefit as home buyers/sellers is that it frees money up for us to be able to obtain loans or others to obtain loans to buy our homes. The negative impact it has on our economy is we do have to pay for this in the form of higher taxes somewhere! Check out the chart below to see firsthand what this kind of news does to our lending and housing market!

Economic Indicator	Release Date Time	Consensus Estimate	Analysis
Existing Home Sales	Wednesday, Sept. 24, 2008	Down 1.4%	Low importance. An indication of mortgage credit demand. A significant decrease may lead to lower rates.
Durable Goods Orders	Thursday, Sept. 25, 2008	Down 1.3%	Important. An indication of the demand for "big ticket" items. A larger than expected decrease may lead to lower rates.
New Home Sales	Thursday, Sept. 25, 2008	Up 0.5%	Important. An indication of economic strength and credit demand. Weakness may lead to lower rates.
Q2 GDP final revision	Friday, Sept. 26, 2008	Up 3.4%	Very important. The aggregate measure of US economic production. Weakness may lead to lower rates.
U of Michigan Consumer Sentiment	Friday, Sept. 26, 2008	None	Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates.

I just Loooooove Numbers!!! Talk to ya next time!

What's up with our Government?

2008-09-19T13:03:00Z

Wow! Some kind of volatile week in the market, huh? Two giant financial industries are bought out by private banks and one is rescued by our goverment? Can this be good? The answer is it can, as you can see by the market openings this morning. Although I am certainly against a big brother government, there is a time when we must demand watchdogs to watch those dogs who are watching our money!! I know it seems like this is the worst market ever, but believe me everyone one was saying the same thing or worse in 1980 and 1987. Be patient, don't be reactive and just ride it out. Left to it's own devices, the market always has and always will correct itself.

Should I buy now-or are the rates going to continue to fall?

2008-09-16T17:09:00Z

Wow! Don't we all wish we had the perfect answer for that question. I will tell you that the news of Merrill Lynch & Lehman Brothers buy out is certainly rocky news for the market. However, it generally prompts the market to lower the interest rates almost reactively to prevent any further fall out from the Dow Jones news. The flip side of that coin is that the lowered rates are always temporary and short lived. I truly cannot imagine a better time to take that step over the hill and go for it! A house is going to be your biggest investment over the course of your life and buyers are in the best financial position as of today than they have been in years!!! Let us help you find the perfect home! We love it!!!!!!