WASHINGTON (AP) — The Federal Reserve cut a key interest rate by one-quarter of a percentage point Tuesday, trying to keep the country out of recession. The reduction in the federal funds rate to 4.25 percent marked the third rate cut in the past three months. Fed officials signaled that further cuts were possible if a severe downturn in housing and a crisis in mortgage lending get worse.

This is a great time to buy a home!  It is also a very good time to consider selling your home…. the buyers are out there and the reduced interest rate will help them better qualify for financing.

Search for homes by Atlanta Neighborhoods

Search for homes by Metro Atlanta Subdivisions

Business 2.0 worked with Moody’s Economy.com rated Atlanta as the #4 ”Best Place in Nation to Buy Now”, with projected median sales prices growth for single-family homes (2008 to 2009):  5.6%

….”Hotlanta” boasts one of the highest rates of job growth in so-called creative-class occupations in the country. Why? It’s the top destination in America for young professionals, a transportation hub (Atlanta’s airport is the busiest in the world), and a place where most Fortune 500 companies maintain a regional presence. Projections by researchers at the U.S. Census Bureau and Virginia Tech place Atlanta at the center of a “megapolitan” cluster of urban sprawl that will develop over the next quarter-century, encompassing 7 million people.

This points to another niche real estate play –>  As buildable land around the city disappears, downtown neighborhoods  on the brink of transformation are ripe for investment.

SOURCE:   CNNMoney.com

** As a Realtor, I primarily work “intown“ and over the past two years, that market has remained quite stable.  Homes are still selling in a reasonable timeframe, multiple offers are still coming in (although not as often as 2003 – 2005), and there are still a LOT of buyers out there.  If you are considering selling your home, my advice would be to “have no fear”, but do everything you can to make your home look like a showplace!  If you are looking to purchase a home in the next year, this is the perfect time to do it.

With the recent challenges in the mortgage industry, many of the special finacing options for first-time home buyers or lower/middle income buyers disappeared.  Now that the industry is starting to stabilize, we are starting to see some fantastic new programs emerge.  Check out the latest from the Atlanta Development Authority:

Mortgage Downpayment Assistance Now Available:

10% of home purchase price, in the form of a forgivable loan.  PLUS an additional 4% grant towards your closing costs.  As of September 17,  preferred lenders now accepting applications.  For a list of preferred lenders visit Atlanta Development Authority or call (404) 614-8280
To qualify:
One and two person households may make up to $71,200.
Households with three or more persons may make up to $81,880.
HOME Atlanta is made possible through the City of Atlanta Housing Opportunity Bonds.
 

If you would like a copy of the program flyer, please email me at KerryLucasse@KW.com.

There are two neighborhood recycling events coming up, so no excuses!  It is officially time to clean out your garage, attic, etc and get rid of your out-of-date electronics (including cell phones, LCD cameras, CD players, copiers, fax machines, portable audio, TVs, scanners, PCs, laptops and more).

DECATUR RECYCLING:  October 27 from 9 am – 1 pm in the Decatur High School Parking Lot (on the corner of N. McDonough and Howard Ave) This semi-annual recycling event has been hugely successful at diverting electronic equipment from landfills, where they may contaminate soil and water. Batteries, Styrofoam and mercury will also be accepted. Last spring’s event diverted 50 tons of electronics from the landfill, almost matching the amount generated from two events in 2006. The event is co-sponsored by the City of Decatur, the Waste Management Advisory Board, ARC International Corp., Cartridge World, The UPS Store Decatur, Chick-Fil-A Downtown Decatur, DreamSan and 

DISTRICT 57 RECYLCLING:  November 10 from 9 am – 1 pm at the Morningside Baptist

 This is the third 3^rd Annual Recycling Event, presented by District 57 Representative Pat Gardner, Morningside-Lenox Park Neighborhood Assoc, Virginia Highland Park Neighborhood Assoc, GA Recycling Assoc and Atlanta Recycling Solutions.