Archive for the ‘About Mortgages and Rates’ Category

15 year mortgage ratesThere has been a lot of talk about 15 year mortgages lately. It is no surprise with interest rates close to 3%. For many people who have been in their homes for several years and have 30 year mortgage rates between 5-6% this may be the perfect opportunity to save themselves  a lot of money in interest. You payment will go up a bit, but not drastically.

CNN Money gave this great example using a $200,000 mortgage balance.

Their payments may not fall — as a matter of fact, they’ll go up by about $340 a month for someone refinancing a mortgage balance of $200,000. But instead of making payments of $1,075 a month for 25 more years, they’ll pay $1,423 for 15 years and then be mortgage free. So, if they can afford the higher monthly bills, borrowers can save more than $137,000 in interest over the term of the loan.

$137,000 and several years off the term of your loan sounds pretty enticing, doesn’t it? Mortgage rates will most likely not stay this low forever. If you are interested in refinancing talk to a trusted lender and get all the details about closing costs and how it will effect your monthly bills. It’s a great time to consider it.




Read Full Post »

Atlanta Real Estate News

Image by © kras99 – Fotolia.com

It has been busy around here the past month! What an exciting spring in the real estate market! Lots of buyers in the marektplace and homes are getting multiple offers. We love it!

We’ve read some good articles over the past several days too about the real estate market. We wanted to share them with you!

Mortgage Rates Hit Lowest Point in 2014

A Guide on How to Be Ready to Buy Your First Home

Changing Loan Standards

Increase in Construction Spending

Read Full Post »

Are you wondering if you should sale your house now or later? Let us tell you why now is the time!  © chrisdorney

Are you wondering if you should sale your house now or later? Let us tell you why now is the time!
© chrisdorney

One of the key reasons to sell now is low inventory. As a potential seller it may look like a lot of homes are on the market, but there are not. Inventory continues to stay well below that of 2007. New listings can have buyers in a matter of days. Buyers have seen what is available and they are ready to make an offer for their perfect house when it gets listed!

Another plus of listing your home now is that existing homes and resales have a leg up on new construction in the current marketplace.

According to Scott Murphy of DS Murphy Appraisals, “Builders are building houses as fast as they can, but it takes years to ramp up production. New home sales are one-third of what they were. Existing home sellers have the market virtually to themselves – at least for now. By this time next year the new construction market will be back in full swing.”

This is good for sellers because some buyers either don’t have the luxury of waiting on a home to be built and others just don’t want to! There was a six year period where finding any new construction was difficult and it will take time for the market to replenish its new home inventory. This will make a resale shine even brighter for the time being.

The Cueny Team knows the market and has years of expertise is existing home sales. We are ready to get your home on the market and help you with all of your real estate needs. If haven’t checked out our Facebook page, please do!

Read Full Post »

Avalon Alpharetta

Live life in a unique work, live, play environment , like nothing else in the Atlanta Metro. Rendering from experienceavalon.com

Each week at Atlanta Fine Homes Sotheby’s International Realty we have a sales meeting and discuss a wide range of market information and often have guest speakers. This week, we had the VP from North American Properties, Tim Perry, come tell us more about the Avalon.

Mr. Perry gave us some background on himself and North American Developers. They have changed their business model over the past several years, previously they designed Retail and big box stores -Target, shopping centers, Publix and more. Now they are experience makers – looking to engage consumers in the environments they create.

From dawn-to-dusk the experience at Avalon will be unlike anything else in the southeast. Ideally you could leave the office at Avalon and walk to your yoga class at Lu Lu Lemon…then head to Cru Bar for a glass of wine and then dinner at The Oak steakhouse. At the end of your evening, simply walk up the hill to your luxury residence. For those that will work, live, or visit Avalon it will be an experience for all to remember and enjoy each and every time.

Some details that helps make this such a great project is a 25,000 sq ft state of  the art technology/conference center. Residents will have access to the fastest technology and internet speed, a Gigabit of speed…hundreds of times faster. To put it into an example we all can appreciate, a high definition movie download can happen in seconds! GA Tech is the only other place in the state to offer such technology and speed for users. Hotwire will provide the service.

There will be concierges with a la carte services, valets and a standardized high level service across the property.

Are you curious about what retail is currently signed on to create this exceptional concept. Some of the retail will include:

The Oak steakhouse

Italian restaurant

Whole Foods

18 story luxury hotel which is still being determined

Regal stadium reserve searing

Ford fry (Atlanta’s most recent & renown chef will be opening a Spanish restaurant)

Crü wine bar

Kona grill


Teds Montana

Pinkberry yogurt


Lu Lu lemon


Free People

C Wonder

Fab rik


Tommy Bahamas

Banaba Republic

Caffe gio Antico


Janie and Jack

Bantam Biddy


Dry bar

Van Michael

Exhale mind body spa

West Elm

American Threads


Road runners


Bantu restaurant

Soft Surroundings decor

Goldberg restaurant

Impeccable pig


The first phase is scheduled to open in October 2014.  I will continue to pass along any news I hear about this exciting development! I’m looking forward to shopping and dining at Avalon, are you?


Read Full Post »

anson street in palisades

Will interest rates rise in 2014? If so will it change your price range and what you are looking for in a home?

Interest rates have been on my mind this week. I have read several articles about where various agencies are projecting interest rates will go in 2014. Will they go up, go down, stay where they are? It seems the majority are projecting a significant increase in rates by year end.

Keeping Matters Current, a website and blog for real estate professionals, compiled the  top agencies’ projections. With the current interest rates at 4.25% for a 30-year fixed FHA loan and 4.5% for a 30-year fixed conventional loan, rates are projected to be as follows by 4Q14:

Fannie Mae – 4.8%
National Association of Realtors 5.3%
Freddie Mac – 5%
Mortgage Bankers Association – 5.3%

KMC feels that these projections are conservative and rates may climb closer to 6% by year end. While 6% isn’t awful, that coupled with rising average home prices can impact what a home buyer can afford or feels comfortable committing to.
I think this chart conveys it best.

interest rates and home prices

*Avg Sales price as per National Association of Realtors
** Freddie Mac 30 year Fixed Rate
*** Principal and Interest
Graph from kcm.com

In this example a $16,600 increase in average sales price, along with less than a 1% interest rate increase, can raise a mortgage payment approximately $208 a month! That can really change a buyer’s price range.

The Cueny Team is ready and available to help you with your home search. We can show you those homes you have found online and sift through other listings to find what you are looking for. Let us assist you and get you in a home now before these numbers impact your decisions.  Click here for our current listings and to access all homes on the market.

Read Full Post »

I had another post planned for today, but with the announcement of changes to the flood plain map in Fulton county, I wanted to provide some information and important links to help homeowners!

The new maps will reclassify 3,000 properties as being at high risk for flooding, along a 107 mile stretch of the Upper Chattahoochee River Basin. If any part of the structure on those properties fall into the high risk category homeowners will be required by mortgage companies to acquire flood insurance. If you are a homeowner that is going to be affected by this, it is best to act now and not wait until your lender contacts you. You may still be able to secure a less expensive policy.

Updated flood risk maps have already gone into effect for several other counties including Cobb, Gwinnett and DeKalb.

According to an article on WABE (Atlanta’s NPR station) by Candace Wheeler, Congress hopes the changes will make the National Flood Insurance program financially stable. The maps going into effect come just two weeks before national flood insurance reform kicks in thanks to the Biggert Waters Flood Insurance Act signed by Congress last year. Under the reform act, home and business owners in high risk areas with pre-existing flood insurance will face increases of up to 25 percent.

To review the revised flood maps and find out if there are any changes to your property’s zone, visit the Georgia Department of Natural Resources website by clicking here and to find out more information about flood insurance visit floodsmart.gov.

Read Full Post »

Greater North Fulton Chamber of Commerce (GNFCC) CEO and Georgia Department of Transportation (GDOT) board member Brandon Beach

Yesterday at sales meeting for Atlanta Fine Homes Sotheby’s International Realty, Brandon Beach, president of the Greater North Fulton Chamber of Commerce shared with us with some exciting news on economic development and transportation for the entire North Fulton area.

The Greater North Fulton Chamber covers all parts of metro Atlanta that are North of Wieuca Road. More specifically, the areas include Sandy Springs, Roswell, Alpharetta, Mountain Park, Milton, and Johns Creek. Beach spoke to us about the companies who have recently grown their business in our area, and also spoke of the GA 400 tool booth removal as of 2013 to 2020.

  • North Fulton often competes with Seattle for relocation business because of the high tech sector. Technology, Insurance, Health Care and Logistics are the focus sectors for North Fulton’s future economic development.
  • State Farm, Lexus Nexus and ADP are all growing their businesses into North Fulton citing the main reason as our excellent schools.
  • The Transit Initiative is something that Beach has personally been involved in as well as serving on the Department of Transportation Board. The upcoming July 31 vote on Atlanta’s transportation referendum is significant. Two websites with information on the referendum are transformmetroatlanta.com and untieatlanta.com. Watch the video below from TransformMetroAtlanta and vote July 31!

To get more information on the Greater North Fulton Chamber of Commerce or to get involved, click on http://www.gnfcc.com/

Read Full Post »

Older Posts »

%d bloggers like this: