The country is going through a house selling boom at the bottom.  Nationally, home prices are down 31% from the 2006 peak, and lots of the sales are foreclosures, although just about anything that's moving is cheap.  A lot of the investing action around the country is in lower-end homes, which have a ready market of renters and are often priced low enough to be purchased for cash.  The activity is centered primarily in fading manufacturing hubs like Detroit and Cleveland, and famous bubble cities like Miami, Phoenix, and Sacramento, but investors are sniffing around for cut-rate deals just about everywhere from Memphis to Philadelphia. Average Sold Home Prices in the greater Gwinnett are for August were $187,542   10/17/2009

Mortgage rates up  Two weekly surveys this week reported a rise in mortgage rates, ending a nearly six-week run of steady or declining rates in the Freddie Mac weekly survey.  Freddie Macs weekly survey of agency-purchased loans put the 30-year fixed-rate mortgage (FRM) stayed below 5% but increased 5bps to 4.92% with a 0.7 point for the week ending October 15. Last year, the 30-year FRM was 6.46%.  The 15-year FRM rate was 4.37% with a 0.7 point in the Freddie Mac survey, up from 4.33% last week, but down from a year ago when it was 6.14%.  Bankrate.coms index, which tracks large US banks and thrifts, put the 30-year FRM at 5.32% with a 0.34 point, up 10bps from the week prior.  Bankrate.com put the 15-year FRM at 4.7%, up 10bps.  The five-year Treasury-indexed hybrid adjustable rate m... 10/17/2009

Foreclosures up  Since government intervention began in September 2008, foreclosure sales remain stunted, dropping 8.6% from the previous month and 40.6% from a year ago. But the percentage of foreclosures sold to third parties, who are usually investors, grew by 215% from last year and 3.27% from August, according to ForeclosureRadars monthly foreclosure report.  Arizona leads all states with an increase of filings by 36.1% in September, followed by Florida (29.6%), Texas (24.3%), and Michigan (18.22%).  Filings in California increased only 1.08% in September, but the volume has grown by 123% from last year.   Urban areas were hit hardest and spurred the increases.  In Arizona, the statewide increase was fueled by a massive 81.3% increase in Phoenix foreclosures.  Foreclosures in Las V... 10/17/2009

BOA reports big loss   Bank of America (BOA) announced today that it suffered a $2.2 billion loss in the third-quarter quarter.  Contributing to that was a $1.2 billion dividend payment to its preferred shareholders, including the U.S. government, credit losses within some of its consumer-related businesses, and $402 million after it agreed to eliminate a loss-sharing agreement it had struck with the government earlier this year.  "Obviously, credit costs remain high, and that is our major financial challenge going forward."  Most of this quarter's losses were in Bank of America's mortgage and credit card businesses, which together lost more than $1 billion during the July-September period.    BOA funded $95.7 billion in first mortgages, selling purchase or refinance loans to nearly 450... 10/17/2009

Seeking a family friendly place to have a relaxing lunch, I decided to go to downtown Lawrenceville. Even though I live just a few short miles from this wonderful area, I seldom take advantage of all of the fantastic dining, shopping, and atmosphere of this great downtown area. There is a myriad of restauraunts in the "square".  We parked and on one side of the square, we had four choices. One of which I had eaten in before and the others were mysteries. As we walked, there was a nice sign outside of the Corner Stop Cafe letting us know the days specials. When I saw mac and cheese, I knew this was the place for us. Located in one of the historic buildings in Lawrenceville, the place is just brimming with history. Classic hardwoods adorn the floors. Country style tables and chairs perhap... 10/16/2009

Use these quick tips to help keep up with your credit and obtain the best possible rates:  1.    Perform a free annual credit review. According to law, each and every person is allowed one free credit report annually. Take time to review for errors or inconsistencies. Research shows nearly one of every five have significant errors that could result in higher interest rates, increase insurance premiums or even denial of loans.  2.    Watch credit limits carefully. Even those that carry a low balance or charge significant amounts each month may be shocked by how much impact reduced credit limits can have on their FICO score. Experts agree it is advisable to refrain from using more than 50 percent of your total available credit and/or more than 50-65 percent of available credit on any one ... 10/10/2009

More than once a day I get asked .. where is the market heading and have we reached the bottom .. yet ? Well my crystal ball is a little cloudy but here is what one leading economist Roubini sees 10% decline coming  According to leading economist Nouriel Roubini, housing prices may still fall more than 10 percent as demand from first-time home buyers fades.  Roubini said massive losses in commercial real estate loans will add to the problem, forcing banks to raise more capital.  "The stress is moving from residential mortgages that are still in deep trouble, to commercial real estate, where they are just starting to recognize that they're going to have massive, massive losses," Roubini told reporters.  The first-time buyer credit of $8,000, set to end on November 30, has kept housing ac... 10/10/2009

Holiday sales expected to be down... expect lots of last minute deals  The National Retail Federation (NRF) expects 2009 retail industry sales to fall 1 percent this year to $437.6 billion in the months of November and December.  Last year, sales in the period fell 3.4 percent to $441.97 billion.  If the decline does occur, it would mark the first back-to-back drop since the group began tracking such figures in 1992.  "There's a lot of weakness in the consumer sector because of the employment situation, because there's no income growth and so consumer confidence is, I would say, wavering."  The unemployment rate now stands at 9.8 percent, and that figure is "just not going to look better in the near term," Wells said.  That will pressure holiday sales, she said, despite signs that the U... 10/09/2009

Good news on winter heating costs  The U.S. Energy Information Administration (EIA) says the average U.S. household will pay 8 percent less in heating fuel costs this winter  a savings of about $84  with natural gas and propane users enjoying the biggest drop in cost.  All this is to cheaper fuel prices, plenty of fuel supplies and expected slightly milder weather compared with last winter.  "Inventories of all heating fuels are currently well above levels seen at the start of last winter," the EIA said.  The agency's forecast covers the U.S. winter heating season that runs from October through next March.  Large fuel inventories will help mitigate any increases in energy prices if the winter is colder than expected.  Winter expenses are forecast to be 11.8 percent ($105) lower for natu... 10/09/2009

We are professional local home buyers who buy houses in Lawrenceville Georgia quickly! That's right, in the time it would normally take for you to have an open house, your Lawrenceville Georgia house could be sold! Yes, you can sell your house in Lawrenceville Georgia in a little as one your or less! You see, we're not real estate agents who want to list your Lawrenceville house... we're local professional home buyers who buy houses in Georgia quickly from people like you in neighborhoods just like yours. We buy all kinds of houses such as pretty Lawrenceville houses, ugly Lawrenceville houses, single family houses, multi-family houses, condos, townhouses and more and can often do so in an hour or less! Call 888-765-3461 or visit our website at www.OneHourHomebuyers.com to sell your hou... 10/08/2009

According to a US Treasury spokeswoman, The Treasury will soon finalize the long awaited plan to expand its incentives for mortgage companies to use "short sales" as a way to stem a rising tide of foreclosures.  Short sales eliminate the problem of negative equity and help alleviate fears that a second wave of foreclosures is in the pipeline.  Only 12 percent of eligible homeowners have had their loans reworked, leaving millions more foreclosures to come.  Lisa Marquis Jackson, a vice president at Irvine, California-based John Burns Real Estate Consulting says, What they are trying to do is move some of these foreclosures in the pipeline, and bring them to a resolution before (foreclosure) happens. 12 percent of these being modified isn't enough to clean the[m] up.   How will these ince... 10/07/2009

NATIONAL TRACTS Yale Economist Robert Shiller didn't kill the housing market, he just predicted its demise.  Now he's seeing some tentative sign of hope.  The professors' price gauge paints a vivid picture of the real estate collapse.  It was Karl Case's data that formed the basis for the Case-Shiller Index Case-Shiller 20 Metro Areas City Percent decrease from peak values Phoenix -54% Las Vegas -52% Miami -48% San Francisco -47% Detroit -46% San Diego -43% Los Angeles -43% Tampa -42% Minneapolis -37% Washington D.C. -32% Chicago -27% Atlanta -23% Seattle -22% Portland, Or. -21% Cleveland -21% New York -21% Boston -20% Charlotte -11% Denver -11% Dallas -7% *Peak value dates vary by city, but all occurred between 9/05 and 8/07Source:  Fortune July 20, 2009 10/02/2009

Freddie Mac door knocking delinquents  Freddie Mac has contracted Titanium Solutions, a third-party servicer, to go to the homes of delinquent borrowers to get the missing information and documentation necessary to start three-month long trial repayments under the Home Affordable Modification Program (HAMP).  By meeting with our borrowers, one on one, Titanium Solutions can help them overcome the roadblocks keeping them from starting their Home Affordable Modification trial periods, said Ingrid Beckles, Freddie Mac senior vice president, default asset management.  As a fraud prevention measure, Titanium representatives will not be allowed to accept mortgage payments or any other money from borrowers, Freddie Mac said. Representatives will also carry a copy of the solicitation letter the... 09/30/2009

MBA - Mortgage Applications down  The Mortgage Bankers Associations (MBA) Weekly Mortgage Applications Survey for the week ending September 25, 2009 decreased 2.8 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased 3.1 percent compared with the previous week and 44.3 percent compared with the same week one year earlier.  The Refinance Index decreased 0.8 percent from the previous week and the seasonally adjusted Purchase Index decreased 6.2 percent from one week earlier.  The unadjusted Purchase Index decreased 6.9 percent compared with the previous week and was 10.6 percent lower than the same period one year ago.  The four week moving average for the seasonally adjusted Market Index is up 3.9 percent.  The four week moving average... 09/30/2009

I have been  nominated for Best of Gwinnett for BEST REALTOR . I have been a REALTOR / BROKER OWNER In Lawreneville GA (Gwinnett County) for 4 years. Voting has been extended until October 7th. If you haven't voted, please vote for Eric Reid. at www.gwinnettmagazine.com/vote then select business then BEST REALTOR then look for his my name.....Thanks.Read More   Step 1 Go to  www.gwinnettmagazine.com Look for the "BEST OF GWINNETT" logo Choose a Category  *******************Business ******************** Best Realtor ERIC REID       09/27/2009

Lawrenceville Farmers' Market Every Saturday from June to September (excluding July 4th), between 8 a.m. to 12 p.m., in historic downtown Lawrenceville, the Lawrenceville Farmers' Market offers a terrific variety of products and fun. Whether individuals are coming downtown for their weekly, fresh produce or visiting Lawrenceville's historic shopping district, the Lawrenceville market has become a Saturday morning treat to pick up not only fresh fruits, vegetables, eggs, herbs and flowers but also unique baskets, soaps, honeys, and jams. Located in historic downtown Lawrenceville in the parking lot behind the Crogan Street fountain directly across from the Historic Courthouse front entrance, local growers provide both a beautiful variety of produce and a friendly environment of town fell... 09/26/2009

History of Lawrenceville Georgia Incorporated on December 15, 1821, exactly three years to the day after the formation of Gwinnett County, Lawrenceville is the county seat and second oldest city in Greater Atlanta. She is named in honor of Captain James Lawrence, the War of 1812 naval commander who gave his crew one of American history's most memorable fighting orders: "Tell the men to fire faster and not to give up the ship; fight her till she sinks!" Though Commander Lawrence died from battle wounds a few days later, the City of Lawrenceville thrived. From the first hearty stock of settlers who lived off the land, citizens of Lawrenceville have long taken pride in establishing and fashioning a strong, viable community. Chosen because of several nearby springs, Lawrenceville's original... 09/26/2009

The Reasoning behind Homeowners Insurance  Having homeowners insurance is requisite to owning a home. Just like insurance on your car or your health, there is that sad, expensive truth that most of the time you will not use this insurance, although you will have to pay for it every month. What's great is that for a home this cost is usually rolled up in your escrow account, so you don't have to cut several different checks each month. While homeowners insurance is required, it is important to know what you are getting, why it's important, and when to bump up your coverage after significant home improvements. Every year sometime between Christmas and New Year I get out the Flip video camera and walk through the house open drawers and closest and taking a video inventory just in case some... 09/26/2009

  August 2009 Foreclosure Rate Heat Map Newton Gwinnett 377 foreclosure properties1 in every 98 housing units Walton 258 foreclosure properties1 in every 123 housing units Henry 561 foreclosure properties1 in every 127 housing units Barrow 184 foreclosure properties1 in every 138 housing units Jackson 139 foreclosure properties1 in every 169 housing units Douglas  284 foreclosure properties1 in every 170 housing units Clayton  620 foreclosure properties1 in every 170 housing units Rockdale 168 foreclosure properties1 in every 185 housing units Gwinnett 1,459 foreclosure properties1 in every 194 housing units Carroll 226 foreclosure properties1 in every 200 housing units Butts 43 foreclosure properties1 in every 215 housing units Hall 284 foreclosure properties1 in every 221 housing unit... 09/26/2009

Home sales to rise?  Home Sales in New Lawrenceville GA Expected to Rise in 4th Quarter According to projections from residential mortgage insurance and credit enhancement product provider The PMI Group (PMI), national homes sales are expected to rise 10% year-over-year basis during the Q409, but the sharp drop in sales earlier in 2009 will keep yearly sales on par with 08 levels.  The report projects that the oversupply of housing inventory will drop median housing prices 12.5% by the end of 2009, but that a boost in the second half of 2010 not only stabilize prices but increase sales of existing homes by 9.4% and new home sales by 21.6%.  PMIanticipates that Federal Reserve policies will remain constant and short-term interest rates should remain close to current levels, although long... 09/22/2009