PalmerHouse Blog Moved to Facebook

20 Sep

Updates to the PalmerHouse Properties Blog have been moved to the PHP public facing Facebook page.

PalmerHouse agents are also invited to join our internal Facebook Agent Resource Facebook page.

Our PalmerHouse WordPress blog will remain live through 2015 as a resource for past postings.

Thanks for visiting our PalmerHouse Blog!

Why Americans Love Real Estate

14 Jun

Results from a new Gallup poll out this past month show that Americans still view owning a home as the best place to park their hard-earned cash for the long term. And of course, opinion writers jumped on the chance to point out holes in the thinking.

Results from an April 3-6 Gallup poll on the Economy and Personal Finances showed that 30% of Americans saw real estate as the top long-term investment, up from 25% a year ago. This follows a February survey from Fannie Mae that showed Americans’ positive views on housing.
Continue reading

So much for winding down Fannie and Freddie; full speed ahead for Mel Watt

13 May

Mel Watt will do more than just keep the lights on at Fannie Mae and Freddie Mac while Congress kicks around ideas on how to replace these key players in the secondary mortgage market.

Four months into his tenure as director of the Federal Housing Finance Agency, Watt delivered his first in-depth remarks on his goals as both conservator and regulator of Fannie Mae and Freddie Mac. Those entities had been to be taken over by the government during the financial crisis, but now they’re cash cows for the U.S. Treasury. Continue reading

April Case-Shiller Market Numbers are In

6 May

Prices Continue to Rise, Inventory has yet to recover.
Here is the April Case-Shiller April report.
• Closings for Metro Atlanta in January were up 17.8% compared to last month and down 12.4% compared to the previous year.
• Pending were up 42% from the previous month showing a strong surge in spring closings coming in the next few months.
• For the Greater Metro Atlanta area, listed inventory was up 6.8% from February 2014 and up 18.9% compared to March 2013 levels. The limited availability of quality properties has turned some local areas into a seller’s market.
• The available months of supply dropped to 4.7 months versus was 6.6 months in February. The slower pace of sales and slightly higher inventory are creating a more normal market condition. Continue reading

Georgia Schools Graded; Atlanta, DeKalb County Districts get “D” (Lists)

24 Apr

According to the Atlanta Business Chronicle, the Georgia Department of Education has released a report that ranks the performance of every K-12 public school in Georgia. In the latest College and Career Readiness Performance Index, the state’s overall grade is  “C.” Atlanta Public Schools and DeKalb County Schools get a “D” in the report. Continue reading

Novare Eyes Key Midtown Corner for New Tower

19 Apr

One of Atlanta’s most prolific high-rise residential developers wants to build its latest tower on a prime corner in the red-hot Midtown market.

Novare Group intends to buy a nearly 1.5-acre site at West Peachtree and 14th streets, near One Atlantic Center and Atlantic Center Plaza, according to several sources familiar with the plan. The property today houses low-rise buildings with tenants such as Einstein Bros. Bagels and Zipcar.

Continue reading

NAHREP Spring Conference Summary

23 Mar

NAHREP

On March 20th, Kevin Palmer attended the National Association of Hispanic Real Estate Professional (NAHREP) Spring Conference.  While we all know that the Atlanta Market has changed from what we were experiencing in 2010 – 2012, I thought he following statistics and facts could be informative.

Continue reading

Latest Case-Shiller Reports

22 Mar

Here is the latest Case-Shiller Report.

http://www.palmerhouseproperties.com/pdf/doc_1395500538.pdf

sales form

The Housing Turnaround

16 Mar

Things are looking sunny in metro Atlanta as the spring homebuying season gets underway.

Foreclosures are down, sale prices are up and housing starts are improving, as the area begins its first spring since a robust housing recovery took root. It should be the first at least somewhat normal season since the housing market collapse brought on the Great Recession nearly six years ago.

In 2013, the 22-county Atlanta region saw 13,862 housing starts, up 67 percent from 2012 and 12,079 new home closings, up 39 percent from 2012, according to the national housing information and consulting firm Metrostudy.

That’s not the 50,000-plus housing starts common a decade ago, when metro Atlanta was one of the nation’s top cities for new home construction. But it’s a big improvement from 2009, when starts fell to below 7,000. Continue reading

Short Sale Debt To Be Taxed

30 Jan

If you have sellers who are considering a short sale, please notify them that the tax exemption that had been in place for the forgiveness amount was not renewed for 2014. 

Despite some optimism at the beginning of the year, a 6-year-old federal law that allowed homeowners to avoid liability for federal income tax on debt forgiven in a short sale or through a principal reduction may not be extended until after the November elections, according to the National Association of Realtors.

The federal Mortgage Forgiveness Debt Relief Act of 2007 expired on Dec. 31, 2013. While NAR believes there could be action in the U.S. Senate to extend this provision sometime this spring, the House of Represenatives has indicated otherwise, the trade group noted.

“(T)he House has said it does not want to extend temporary tax provisions until it completes work on comprehensive tax reform,” NAR said.

“Therefore, NAR believes an extension of the mortgage cancellation relief may not be passed until after the November elections.”

A middle-income homeowner with a principal reduction of $20,000 would face a $5,600 tax bill if the law is not extended, the Los Angeles Times noted earlier this month, citing figures from the Congressional Research Service.

Source: Realtor.org and Inman News.

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