On Saturday, April 26th from 9:00am-1:00pm Atlanta City Councilmember Carla Smith will be hosting this annual event- aimed at gathering and recycling Atlantans’ old computers and household electronics.  What does this include?  Here’s a list:

COMPUTER MONITORS
TELEVISIONS ($10 fee required)
MICROWAVE OVENS
COMPUTER CPU’s
STEREOS
TELEPHONES
LAPTOPS
COPIERS
CB RADIOS
PRINTERS
VIDEO MACHINES
CD PLAYERS
DISK DRIVES
VCRs and DVD Players
PORTABLE RADIOS
FLOPPY DRIVES
CAMCORDERS
CELL PHONES
TEST & NETWORKING EQUIPMENT
CAMERAS
KEYBOARDS
MODEMS
RECORD PLAYERS
SCANNERS
CURCUIT BOARDS
SPEAKERS
ELECTRICAL PANELS
TYPEWRITERS
UPS / BATTERY BACK-UP
FAX MACHINES
CD ROMS
PROJECTORS
CABLES
COMPUTER MOUSES

The goal of this initiative is to promote the recovery, reuse, and
recycling of obsolete electronic equipment and to encourage the
design, manufacture, and purchase of environmentally responsible
electronic equipment.  Last year 75,583 pieces of electronic equipment were collected….HOLY COW!  These items would normally have wound up in our landfills, but thanks to Councilwoman Smith, they were all recycled. 

There ARE some items they CANNOT take though.  Please do not bring:

Consoles
Projection TVs
Vacuum Cleaners
Refrigerators
Washers
Dryers
Freezers
De-humidifiers
Humidifiers
Gas-Powered Equipment
Tires
Household Trash
NON-electronic equipment

For more information please contact Coucilwoman Smith’s office at 404-330-6039.

As expected, the extreme volatility in the interest rate market continued.  After a great start to the week on Monday, the mortgage backed security market sold off the rest of the week and drove rates back up.  Today has continued that theme, as it appears rates will continue to head up through out the week.   This recent move by rates is particularly disappointing considering the news from last week’s update.  In summary, last week’s update detailed the continued life-line of government support attempting to stabilize the mortgage market, which came in the form of allowing Fannie Mae to pump billions of dollars in to the mortgage backed security market.  The government’s logic is that by offering Fannie Mae the ability to purchase huge lots of mortgage backed securities, it would put a sense of peace in the mortgage market, and thus encourage Wall Street to finally gain some confidence that it is once again safe to buy mortgages.  However, the upcoming purchasing power of Fannie Mae seems to have had little impact on the mortgage backed security market, seeing as rates have not fallen as a result of this announcement. Other news from Fannie Mae this week, is that they did confirm the additional charges that will be incurred on all conforming loans for credit score.  This will make quoting a rate more dynamic and complex than it’s ever been.  Literately, rates will change for every 5% change in loan to value and every 10 point change in credit score – all the way up to scores of 740!  So, even a borrower with a very good credit score, i.e. 708 may not be receiving the best possible rate/costs versus a borrower who has a 740.  This new system will increasingly reward very high scores, but will be more penal than ever on good to poor scores (710-620). With that in mind, it seems some what futile for me to even offer a weekly “rate” update, since all rates will now be so individualized for each borrower, but nonetheless, just to give you a general sense of what rates are doing, I will certainly continue to put a rate range for the week.Rates for 3/27/2008: 30 Year Fixed under $417,000:   5.625% – 5.875%            30 Year Fixed over $417,000:     6.125%30 Year Fixed FHA:                   5.500%            7/1 ARM:                                    5.125%7/1 Interest Only ARM:               5.125%

Tune into the Wes Moss show (www.WesMoss.com) between 11am-12pm this Sunday 3/16 between 11-12 to hear Kelly discuss what’s been  happening this 1st quarter of 2008 in Atlanta real estate!

I’m going down on record as saying 2008 is going to be the end of our market correction.  I think John Adams said it best in the AJC Homefinder (1/6/08).  His opinion is that Atlantan’s are going to look back on the winter of 2008 and realize that THAT was the best time to buy. 

Prices are L-O-W and there is still a large amount of inventory on the market from 2007.  More homes will be coming on the market the 1st quarter but not as many as in years past.  People who can wait to sell should choose to do so until this Summer. 

Sellers and Real Estate Agents alike are finally getting the point that their homes have GOT to be priced at or just below market value in order to sell.   Smart sellers realize that you cannot overprice your home and expect to get a buyer to make an offer.  There are too many deals out there for a buyer to waste their time on negotiating with an unrealistic seller.  It’s up to us, as agents, to price the home correctly the 1st time or don’t take the listing at all. 

2008 is going to be a turnaround year for us!  One piece of advice I have for everyone is to add to your financial portfolio by buying investment homes NOW.  It’s unwise to wait another year because prices will be on their way up again. 

© Photos.com

7. Atlanta, Ga.

Median home price: $175,500

Annual price change from 2006: 0.9%

Projected price change to 2008: 4.4%

Affordable markets like Atlanta don’t feel the extreme swings of higher-priced markets. The city’s migration and job creation spikes have made Atlanta one of the fastest-growing cities in America. Its current problems are the result of a bloated inventory, especially condos in the beltway, but other fundamentals, including a fast sales rate and a low proportion of non-conforming mortgages, suggest it can burn off its supply glut.

Please tune into 640am this Sunday (10/21) from 11am-12pm.  I’ll be the guest real estate expert on the Wes Moss show; taking calls from listeners.  Have a real estate question for me?  Call in @ 404-367-9478!  

www.wesmossshow.com