Live "Streets of Buckhead" Construction Cam

Want to see all the action as it happens? Well check this out Now you can check out the construction progress on this amazing redevelopement project as it unfolds. See the exciting mixed use development come to life. LIVE STREETS OF BUCKHEAD WEBCAM

Eclipse 1/1 Motivated Seller $245,000

Eclipse 2/2 Penthouse unit $479,900

Midtown 1/1 $190,000 Motivated seller

Just Listed 1/1 Shows like a Model Midtown

High Lite Listing of the Week!

Eclipse Buckhead FMLS # 3508439 Unit 1816 1/1 PRIME BUCKHEAD LOCATION, DRAMATIC DOWNTOWN SKYLINE VIEWS FROM EVERY ROOM, LARGEST 1BR FLOOR PLAN, FLOOR 2 CEILING GLASS EXTERIOR WALLS, GORGEOUS HARDWOODS THROUGHOUT, GRANITE IN KITCHEN & BATH, STAINLESS STEEL APPLIANCES, SURROUND SYSTEM PRE-WIRED, WALK-IN CLOSET, 10' EXPOSED CONCRETE CEILINGS, LARGE ON-SITE STORAGE UNIT IS INCLUDED IN SELL. BRING AN OFFER!!!

My House Is Worth What? Appearances Scheduled

My House Is Worth What?

Wednesdays 10:30pm e/p

My House Is Worth What? gives you the lowdown on the high stakes of home ownership. Go behind closed doors each week as three homeowners in three different parts of the country strategize on maximizing their homes' value. After a professional assessment and evaluation from local market experts, they'll get the bottom line on how well their efforts will pay off, with big surprises often awaiting the homeowner in the final number.

Over the summer I had a chance to work with HGTV on the hit show "My House is Worth What?" I will be appearing as the local Real Estate expert assisting people in find out the true value of their renovations and helping to establish a general price range for listing. "My House is Worth What?" is the number 2 rated show on HGTV after only one year and reaches an audience over 1 million.

Ward/Davis Episode airs Dec. 12th @ 10P.M.
Wise/Davis Episode airs Dec. 26th @ 10P.M.
3rd Episode to be announced

Going Green Atlanta's Future w/ Street Cars

The future of Peachtree Street includes Street Cars...Going Green and saving the enviroment for generations to come. Are youon board? Go to AtlantaStreetcar.org and cast your vote for this project.

Why you should Chose Re/Max

A Brief Respite! In the Mortgage industry

A Brief Respite!

As I come to you each week with an update about the machinations that have become the credit markets within our grand nation…..and around the world…..I sometimes can’t help but be somewhat dismayed. Last week the tension in the mortgage industry was palpable. On Friday of last week we reached a crescendo. Lenders, loan officers, processors and underwriters were forced to make decisions about loans that would have made no sense just 90 days ago. The pendulum had swung all the way to the other side of unreasonable.

However, on Monday things started to change. The Fed’s move to lower the Discount Window Rate, the rate which banks borrower from the government for up to 30 days, was lowered by .5%. While this move in and of itself was seen by many economists as a gesture to the credit markets, it was not seen as a complete solution. What the naysayer failed to recognize was that the Fed did something else. This time they allowed banks to collateralize the loans with Mortgage Backed Security Pools. Essentially the Fed said they were so confident in our banking system that they would buy the pools until banks could sell them on the open market for a fair price. At the writing of this email, Bank of America, Citi, JP Morgan and Wachovia have all visited the Window of the Fed and have borrowed as much as $2 billion. Whew! Let’s all breathe a sigh of relief.

The markets have regained some confidence and that should give us all a few moments to breath. Some reasonableness should begin to reenter the underwriting vernacular and hopefully we will see loan approvals that don’t ask our clients to provide details about the length, in centimeters, of the big toe on their right foot! LOL!

Even with news today that Accredited Home Mortgage will close, that Lehman Brothers has closed BNC (their subprime division) and that Delta Funding will layoff 20% of its workforce, I can’t help but be optimistic. During tough times my father used to use an analogy of pushing a boulder up a mountain. When you get close to the peak you begin to tire and going that few extra yards seems impossible. However, if you can get to the pinnacle and push the boulder over the top, then you’ve won. I truly feel we’ve reached the pinnacle and with one more push we’ll see the boulder begin to roll down the other side. It will be slow at first, but it will gather steam and beginning in 2008 we will all be back on track.

For now, let’s all take a breath…..a short break if you will. Then next week we can all stand in unison and make one more big push. As always, Dividend America will be here for you. We are closing loans and we have the wide variety of lending channels and resources to make the lending process successful for your clients. I hope you’ll give me a call if you have any questions, concerns or opportunities. I will continue to bring you these weekly updates until you all scream STOP! Until then, I hope that the information I try to boil down to layman’s terms is helpful to you and your clients. Thanks for reading and stay positive! J

Sincerely,
Michael D. Gross
President
Dividend America |Mortgage
770-350-7373
404-819-4511 (cell)
www.dividendamerica.com

New Film Out 8/24 A must see!

This new film is a must see in my book, if you are in any way concerned about our future. The film is a real life look in to what we need to do and react to change in the global climate issues.

Mortgage Market Update from Michael Gross

Countrywide’s Slide:

Countrywide’s stock is down by 21% since last Wednesday. The company reported “unprecedented disruptions” in the mortgage backed securities market “could have an adverse impact” on its earnings and financial condition. Merrill Lynch’s Kenneth Bruce wrote: “If enough financial pressure is placed on Countrywide or if the market loses confidence in its ability to function properly, then the model can break, leading to an effective insolvency. If liquidations occur in the capital markets, then it is possible for Countrywide to go bankrupt.”

First Magnus, Last Place?:
First Magnus announced today that it will no longer fund mortgage loans. Is this the last of the nations top 20 lenders to fold, or will there be more to come?

Thornburg’s Demise:
In a piece of positive news, Thornburg mortgage announced that the report of their demise was unfounded. They are solvent and continue to fund loans.

My Thoughts:
As we traverse the rocky roads of this current market downturn I can’t help but be encouraged. The mortgage industry is experiencing its equivalent of the (dot)Com implosion of the 90’s. By all economic indicators, the overall economy is strong. Nation wide home values have dropped less than 1.5% with starter homes taking the largest hit. The actual pool of sub-prime loans as compared to all mortgages is approximately 15% and only 10% of those loans are expected to go into foreclosure. That number reflects less than 2/10ths of 1% of GDP. In my opinion, the markets are simply correcting and the mortgage industry is being washed out of all the failed and flawed business models. When the dust settles, the companies that remain will be those that have profit driven business models that balance consumer needs with investor needs…..profit. The American economy will be stronger in the end and we will all be better off.

I am optimistic about our future and I fully expect the market to stabilize in the next 90-180 days. When it does you will find that some of the most aggressive lenders in our market are no longer around and many of the know-nothing loan officers who were left over from the fast money days of the refinance boom have been washed out of the industry. Realtors, Homebuyers and Real Estate Investors can breathe a sigh of relief because the real professionals will be left and it will be easy to spot those who know the business from those who don’t.

My team and I look forward to being here for you now and into the future to meet all of your lending needs. Thanks and we’ll see you soon! J

Sincerely
Mike, Candace & Jo
Michael D. Gross
President
Dividend America |Mortgage
770-350-7373
www.dividendamerica.com

Selling a home in a Cold Market?

Selling a Home? Re/Max Around Atlanta Makes it Easy...
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The Marketing Plan ...
1) Your property will be on the FMLS & GAMLS services, crucial to provide national and local coverage to potential buyers and their agents.
2) Your listings will show the exterior of the home and up to 6 interior photos.
3) Your listing will be accessible to the Re/Max Around atlanta website as well as featured spot light ads on Google, Yahoo, and several other national search engines.
4) Further, your listing will be accessible on Re/Max web sites around the world.
5) It will be accessible from other major realty companies such as Keller Williams, Coldwell Banker, Jenny Pruit, and more.
6) I will utilize other local and national marketing media formats such as Craigslist and various free sites.
7) Utilize Open House Sundays and Agent Caravan techniques when appropriate and according to the scheduled needs of the property.
8) I will place a sign and lockbox where allowed.
9) I will obtain immediate feedback from any agent using the lockbox on your listing by accessing activity online.
10) I will provide Home Warranty information to both the Buyer & Seller.
11) Buyer Packets will be left in the listing highlighting local schools, churches, selling information and other points of interest.
12) I will provide the seller with detailed showing and sells reports on a timely manor to keep all parties on the same page and well informed at all times.

A Re/Max Agent Realtor can assist you in understanding your current market!
*Can assist you the proper pricing of your property!
*Can help you to market your home to thousands of other Realtors!
*Can assist you in the proper staging and presentation of a home!
*Can assist you in the negotiation of contract!
*Can assist you the closing process of the sell of your property!