-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/GPkb2
Welcome back to Go Gaddis Real Estate Radio. We appreciate you joining us for another week's edition right here on AM 920. The Answer. My name is Cleve Gaddis and in this first segment of the show we've got our Metro Atlanta residential real estate update for the last seven days. Last week's show we gave you an update.
through August, uh, excuse me, for August and year to date. Today, we're going to give you an update just for the last seven days and are something you should know about Atlanta segment. We're going to talk about Oktoberfest and then is it possible, is it possible to get a mortgage rate under 4 percent believe it or not, the answer is yes, but you have to know some things in order to be able to do that again.
My name is Cleve Gaddis. You're listening to Go Gaddis. Real Estate Radio. The purpose of this show is to help people like you, the beautiful people of Atlanta, learn everything they need to learn before they make any decisions regarding purchasing real estate, whether it is... In real estate, or within your relationships, or in your schooling, or your business, or whatever.
In so many cases, we make decisions, and we don't have all the information. So we make decisions based on what we think we should do. But if somebody would just give us the facts, we're all adults, and the reality is adults. For the most part are capable of making their own decisions. They're also capable, unfortunately, of making their own mistakes as evidenced by many of the things I've done in life.
And our whole goal is to help you as a buyer or a seller or an investor. Be sure about the information you need to know before you make those decisions. So it is about being an educated consumer and making wise, wise decisions and we want to connect with you and it is easy. Go to go Gaddis radio.com.
You can ask questions that we answer on air or off air. You can share any feedback you have. You can. You can challenge any of the things that I say on the show. You can request that we do a very detailed analysis of your particular neighborhood to help you understand as a homeowner in the neighborhood, how you might, or whether or not you have an advantage or disadvantage when it comes to selling your home.
And you can subscribe to our podcast. We would love for everybody to be a podcast subscriber. Let's look at the last seven days in the Metro Atlanta market. There were 1, 855 new listings. 1, 132 homes went under contract, which means there are 800 more listings on the market at the end of the last seven days than at the beginning.
That's a big deal, especially if you're listening and you are trying to buy a home and you have been shut out every time you make an offer, somebody else beats you out on it or you're a buyer and you feel like, gosh, there's just no hope in me even getting into the market at this point because it's, um, it's too competitive.
And those 800 homes might make it a lot more compelling for you to be in the market. There were 1, 522 closings for the week. Which is pretty strong. It would normally be somewhere 1, 800 to 2, 000. And there were 1, 565 homes. excuse me, with a price decrease. So, there's 1, 565 home sellers in Metro Atlanta that decided in the last seven days that they're a little more motivated to sell their home than they originally thought.
Maybe they missed the price. Maybe they missed the mark on price. Maybe they missed the mark in terms of the condition of the property. If you are a homebuyer and you've been out looking at properties, you know you don't have to look too hard or too far to find a home that is not in good shape. But it's priced as if it were in good shape.
And sometimes those prices have to be adjusted. And you might be thinking, well, maybe it's only the crappy one, Cleve, that, uh, have had a price decrease. And maybe a lot of them are not in the greatest condition. But in today's world, there are so many good mortgage programs where you can borrow the money to buy the place, you can borrow the money to fix it up.
If I was looking to buy a home myself today, I'd be looking for one. That other people would look at and go, yuck. And that's the one I could get a good deal on. And I could invest some money in it and so could you. And you could have a lot of equity the day you move into that house. In our Something You Should Know About Metro Atlanta segment, we're featuring Oktoberfest.
I love the fall. I love the changing leaves. I love everything about it. Here's what, here's where you can celebrate Oktoberfest in Atlanta this year. You can have brats and beer. Oh, that sounds so good. Pretzels and schnitzel and people all decked out in the Lederhosen and, and, uh, other German attire.
Oktoberfest was actually inspired by the two centuries old celebration in Germany filled with brats and beer and carb heavy food. I am, by the way, right now trying to avoid all carbs. I am four days in with no sugar. Yeah, cleave. Yeah, cleave. Um, and I'm trying to get my body off of craving the sugar and the carbs.
But here's places you can go. You can go to Monday Night Brewing, which is both in Midtown and the Garage in Atlanta. You can go to Worst Beer Hall, which is backed by longtime Atlanta chef Sean Doty, located on Ponce de Leon Avenue. You can go to Elsewhere Brewing at both Grant Park and the new Westside Paper locations.
They'll host events all month long. You can go to Bold Monk Brewing Company, which kicked off Oktoberfest. Saturday, September 16th in it's beer garden and the abbey above the dining room. You can go to Tucker Brewing Company, which was voted number four best beer garden in the U. S. Celebrates Tucktoberfest, not Oktoberfest, Tucktoberfest.
I like that for a company in Tucker. You can go to Intervoice Brewing, which kicked off Oktoberfest, September the 23rd. And you can go to Eventide Brewing, which is located in Grant Park. Many breweries are marking, marking Oktoberfest 2023 with special release beers, festival merchandise, beer steins, fun events.
Visit AtlantaEater. com. Again, visit AtlantaEater. com. A T L A N T A E A T E R. com for more information, and as always... Uh, drink responsibly, Atlanta. If you've just joined us, you're listening to Go Gaddis Real Estate Radio right here on AM 920. My name is Cleve Gaddis, I'm the host, and we're talking all things real estate right here in Metro Atlanta.
If you... We are thinking about selling your home anytime in the next six months to a year. We believe we can get you more money than other agents can get you. And you're probably listening going, yeah, that's an easy and convenient thing to say. But the reality is, when you list with Modern Traditions Realty Group, we bring a different tools.
We bring a different arsenal to the table and we make sure your listing gets the exposure it should get. And if you think, Hey, real estate agents are a dime a dozen, I say, think again. And whether you decide to list with us or not, I think you ought to absolutely check us out and see what we have to offer.
There'll be two things that will be very different. Three things really, your marketing exposure is going to be tremendously different. Your home, whether it's 500, it's going to be marketed like a 5, 000, 000 home. And that's a big difference in how you market a 5, 000, 000 home for a 3, 000, 000 or 4, 000, 000 home.
You'll also get a customized maximum value plan, which is like an appraisal on steroids. I mean, it shows you exactly that high number you can get. Your list price too. And then you'll also get up to a 15, 000 rehab and refresh budget. How do you find out more? It's easy. Go to gogaddisradio. com. Click on 28, 000 more.
Put in just a little information and I will reach out to you personally to discuss your situation. Again, gogaddis. Radio dot com. Click on 28, 000 more. You'll be on and off the site in 30 seconds. This segment is brought to you by the, by the, uh, by John Birchfield and capital city home loans. Easy for me to say.
John makes it his mission to guide each home buyer step by step through the entire loan process. So they are educated and confident in the mortgage options available and can make the best decisions along the way. John can be reached by calling 6 7 8 2 2 6. 7, 8, 8, 7. We got about two and a half minutes left in the segment.
I want to talk about something. Interesting. If you are looking at the news and shopping interest rates for mortgages and those are scaring you off from house hunting or maybe you're a seller with a low rate that was obtained during the pandemic or maybe even before, you know, I'm guessing that you would find many, many reasons to say, Nope, I'm not going to do it.
I'm going to keep renting. I'm going to keep living with our parents or I'm going to keep renting. Staying in this home that's not working for me right now, but I'm going to stay there because my interest rate is 3. 5 or 99%, whatever it is. We got a listener question. We received a listener question from Nathan in Atlanta.
Who says he's house hunting and he hears that he can get a mortgage rate below 4%. Now, it is possible. To buy down your interest rate and get it all the way down to four percent that would probably cost too much It probably wouldn't be worth it But did you know that all fha and all va loans and by the way usda loans are also?
FHA loans, all of those are assumable. And you don't have to be a veteran to assume a VA loan. So in many cases, if the agent you're working with is in tune enough with the type of financing, and in most cases they can find it out from the last sale because we have the data in the listing service. It's not something that you would have access to as a consumer, but we would.
And in many cases, those loans can be consumed, can be assumed. So let's say you have a 600, 000 mortgage and it's at a 3 percent rate. And you are listing your home for sale and you're going to make 200, 000 or 300, 000 in profit. Believe it or not, you could just allow the borrower to assume the mortgage.
They're going to have to pay you all the difference between the mortgage and the sales price in cash. Um, or you could, in some cases, sell the rights. For them to assume the mortgage. Think about it. If I had a mortgage in place and it would save you 20, 000 in interest over the first two years You might be willing to pay me 10, 000 just for the right to be able to assume it It'd be worth it for you And it'd be a good deal for me if you want to learn more about Assumable mortgages how to assume an FHA or a VA mortgage Go to gogaddisradio.
com, G O G A D D I S radio dot com, click on contact us and say give me info on getting a cheap mortgage. We're going to take a quick break. When we come back, heat and humidity and rain showers can bring pests into your yard and into your home. We're going to talk about how you can take steps to keep them out, period.
Stick with us. We'll be back.