By Sophia Stuart, Research Economist
- Affordability measures typically use the prevailing 30-year fixed mortgage interest rate and assume a 10 percent downpayment to translate home prices into monthly payments.
- Under these assumptions, real monthly payments on a median priced house in 2008 were 20 percent below the 2006 peak.
- As a share of median owner income, monthly payments fell five percentage points to 20.1 percent. With interest rates still sliding, affordability improved even more in the first quarter of 2009.
Copyright National Association of REALTORS®, Reprinted with permission.
http://www.AthensGaHomesForSale.com
About hankbailey
Member of the Athens Area Association of REALTORS®, Georgia Association of REALTORS®, and the National Association of REALTORS®. I grew up in Athens and graduated from UGA with a BBA from the Terry College. I serve as a Residential Real Estate Listing and Buyer Services through Prudential Georgia, one of the largest real estate companies in the State of Georgia. Working with first time home buyers, step-up buyers, and Relocations in Jackson, Barrow, Oconee, and Athens-Clarke Counties.
http://www.AdvancedPropertyMarketing.com (this is our listing methodology)
http://www.GetJobLossProtection.com (this is an overview of our job loss program)
• Adept at understanding mortgage financing issues, products, and terminology.
• Technical expertise in internet marketing.
• Excellence in establishing trust with clients.
Represents Prudential Georgia Property Management in the acquisition and marketing of properties for lease in the Greater Athens area.
Personal website; www.athensgahomesforsale.com
Member of GA MLS
Member of FMLS
Member Georgia Association of REALTORS®
Member of Athens Association of REALTORS®
Member of the National Association of REALTORS®
Member of the UGA Alumni Association
