Real Estate Agents VS REALTORS®

The terms real estate agent and REALTOR® are often used interchangeably. However there is a significant difference. While both are licensed to sell real estate, the main difference is that a REALTOR® is a member of the National Association of REALTORS® and  must subscribe to the  REALTORS® code of ethics whereas this is not a requirement for a real estate agent. Some real estate companies such as Coldwell Banker make it a requirement that all of their agents become members of the association in order to be affiliated with the company.

So what does this mean to the you?

As previously stated REALTORS® must subscribe to a strict code of ethics that is composed of 17 Articles and various underlying Standards of Practice. These standards are much more restrictive and confining pertaining to conduct than those required of agents who simply hold a real estate license. By becoming a REALTOR® an agent is in essence going the extra mile to ensure their brand and level of service to you is upheld to the highest industry standards. Also by doing so they have allowed themselves to be held accountable for their actions on all levels.

You may ask yourself why would anyone holding a real estate license not make the commitment to becoming a REALTOR®? The next time you are considering the purchase or sale of a home and are interviewing agents be sure to have this question near the top of your list.

DOWN PAYMENT ASSISTANCE AVAILABLE TO ATLANTA BUYERS

For many potential home buyers the only obstacle between them and home ownership is cash needed to close. Contrary to popular belief there are still options available for down payment assistance. The Wells Fargo NeighborhoodLIFT down payment assistance program still has funds available for the city of Atlanta. If eligible borrowers can receive as much as $15,000 in down payment assistance toward the purchase of a home.

To be eligible recipients must meet the following guidelines.

• Be pre-approved for financing
• Meet household income requirements
• Attend home buyer education sessions
• If you currently own a home, it must be sold before closing.

For complete details please visit the line below
https://www.wfhmconsumerevents.com/aspx/Events/Brochure.aspx?t=1&EventID=5776

 

GA FORECLOSURE RATE CONTINUES TO DROP

As the market continues to crawl toward improvement the number of foreclosures is steadily decreasing. For the third consecutive quarter the number of Georgia foreclosures has spiraled downward. According to RealtyTrac the number of filings in the first quarter was just over 20,000 statewide. While this may still seem like a staggering number it is in fact down 44% from a year prior and 17% from the 4th quarter of 2012.

The Peach State still ranks 5th in the nation among active foreclosures. While we still have a long road to recovery this can be seen as yet another sign that things are moving in the right direction

SELLERS MARKET ON THE RISE

With inventory low and prices increasing all signs are pointing to a rising sellers market in the Atlanta area. For the first time in years some sellers are experiencing multiple offer situations. Conditions are still favorable for buyers as there are still numerous deals to be found in conjunction with interest rates still at a record low.

What does a shift in the market mean to buyers and sellers?

From a buyer perspective it means that if you see a home that you feel an emotional connection with and it meets your needs, don't sleep on it or "think about it" for too long. Submit an offer or it may not be an option tomorrow!

For sellers don't get too comfortable, a shift in the market does put you in the driver's seat initially but this also means that builders will soon be out in full force. So while it may be tempting to sit on your property for a while and wait for the market to peak, remember you will soon be competing with an abundance of new construction listings. Statistically buyers are willing to spend up to 15% more on a new construction home that is comparable to yours.