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Buyer Tips Category

Foreclosures are not always the best deal

Many buyers start out on there search, and they say to me…..I want to buy a foreclosure.  I understand that there is a perception that there are great deals on foreclosures.  Actually that may not always be the case!  Foreclosures are houses that in general have not been maintained, and have often been sitting for a long time before the bank actually gets it up on the market.  There can often be so many problems with the house, and the amount of work needed may not be worth it.  Values are down 30% or more and traditional real estate is included in this mix. People often mistake the “value” on Zillow and other sites as being accurate.  The home’s value is only what a buyer is willing to pay and  a seller is willing to accept.

Because overall values have declined, many traditional real estate homes on the market are very close in price to the foreclosure down the street and are very often “move in” ready.  So, the answer is Yes there are some foreclosure deals, but I think many times the traditional real estate deal is the best one as far as condition and value.

Call me today at 770-354-0243 to discuss your next purchase and we can talk about the prices and values of homes in the Atlanta area that you are interested in living in!

 

Great Secret in the heart of East Cobb

There is a great hike right in the middle of East Cobb off of Lower Roswell Rd across from the Ashforde Subdivision and many people don’t even realize it is there.  Take a look and call me today for other great tips about living in East Cobb! 770-354-0243

 

Sell before buying or buy before selling?

When it comes to buying and selling real estate, timing is of the utmost importance. Unfortunately, it’s also a topic few people truly understand. The following are some tips to keep in mind when making your decision.

Sell before buying or buy before selling? It’s an age-old question, but asking a few strategic questions might enable you to narrow your decision down to the right choice for your individual situation.

Is selling or buying a necessity or do you have some flexibility? Job relocation, change of marital status or other life situations often require a relocation within a specified period of time. Equally important are the needs of the other party. I will work with you to help you understand the opportunities and limitations of both sides in order to create a win-win situation.
Buying before selling typically benefits those who simply must move or relocate within a specified period of time and who are unable or unwilling to lease or rent. It is also a popular option for those seeking an exchange of property under Section 1031 of the U.S. Internal Revenue Code or for those who are attempting to minimize taxation via other deals. Can you obtain financing or afford to carry both mortgages for any period of time? If so, you may have a little more flexibility at your disposal.  We can discuss leaseback or other temporary terms.  It’s often possible to use these when negotiating terms.
Selling before buying can benefit those who are unable to obtain financing with an existing mortgage in place or who wish to use cash proceeds from the prior sale to fund repairs, renovations or an entire purchase.
In many instances, it is possible to arrange a simultaneous closing for both the home purchased and the home sold with contingencies that reflect this situation on both transactions. Call me today at 770-354-0243 to discuss your next move or email me! I look forward to hearing from you!

Get and Appraisal done BEFORE you make an offer?

I have seen many transactions in this market, appraisals have been the “sticking” point in many transactions.  Appraisals have been coming in lower in general  than the  negotiated purchase price and sometimes can kill the deal.

Here is a novel idea, how about if you really want a house and you are interested in the home, go ahead and get an appraisal done before you offer!   This way, you have an idea of what an appraiser’s value is on it, use your lenders appraiser so that it can be used for the loan should you go under contract.   It is still very important to have your agent research the comparables for you as well, this is not a substitute for comps but it will help you really understand the value of the home and where you should come in on your offer.  Also the seller is aware you have had an appraisal and they will more than likely consider your offer more serious if you get in a multiple offer situation.

Call me today at 770-354-0243 or email me  or simply click the search for homes button above to begin your home search today.

 

Buy or rent? Conditions show it’s more favorable to buy!

Somewhere along the way, we were taught, or have the belief that we should make money on our homes.  The bubble of the 2002-2006 is gone and probably we will not see that again. It was driven mostly by the loan market, all you had to do was breathe and you got a loan 🙂  A home is a place to live, you have to pay to live somewhere whether you buy or rent.  In the video below the Smart Money News editor talks about if you are thinking of buying versus renting, take a look at the rental rates in the area you live.  Most areas it is better to buy, and in this Atlanta area and East Cobb this is certainly true.  You will build equity in your home as you pay your mortgage down, but home prices going up substantially is probably not going to happen.  Historically, home prices have gone up the rate of inflation, there are bumps and valleys, but overall since 1890 it has gone up the rate of inflation.  Take a look at the video, and call me  at 770-354-0243 and I will be happy to pull rental rates vs. purchase prices in your area, and discuss with you what is best for you!

Newest on Market in Walton, Pope and Lassiter HS District

Many buyers who are looking for school system come to East Cobb and request these 3 high schools first!  Below are the newest listings that have come on market in the last 4 days.  If you are interested in ANYof these homes, call me today at 770-354-0243 or email me for more information.  If you would like to visit any home, I can help!

 Let’s get started, I am an local expert in East Cobb Real Estate, and I can help you find the perfect home and navigate you through the home buying process!

 
$2,250,000
Beds: 6
Baths: 5 | 1
Sq. Ft.: 7,722
 
$1,879,000
Beds: 6
Baths: 6 | 2
Sq. Ft.: 9,836
 
$1,750,000
Beds: 5
Baths: 5 | 1
Sq. Ft.: 7,046
 
$1,650,000
Beds: 6
Baths: 6 | 2
Sq. Ft.: 9,214
 
$1,549,000
Beds: 6
Baths: 5 | 1
Sq. Ft.: 7,745
 
$1,495,000
Beds: 6
Baths: 6 | 2
Sq. Ft.: 8,446
 
$1,295,000
Beds: 6
Baths: 5 | 1
Sq. Ft.: 6,880
 
$1,119,999
Beds: 4
Baths: 6 | 1
Sq. Ft.: 5,629
 
$1,099,000
Beds: 6
Baths: 5 | 1
Sq. Ft.: 7,183
 
$999,000
Beds: 7
Baths: 5
Sq. Ft.: 7,747
 
Information Deemed Reliable But Not Guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please please click here to review our DMCA policy and learn how to submit a takedown request. © 2017 First Multiple Listing Service, Inc.
FMLS data last updated at September 19, 2017 9:43 AM ET

 

Newest Hottest Listings for sale in the Walton High School District!

Check out the newest homes for sale in the Walton High School District in East Cobb!  Call me today at 770-354-0243 or email me for more information on any of these homes, or if you are interested in viewing any of these homes.  Walton homes are selling fast, so don’t delay if you see one you like, call today!

 
$7,300,000
Beds: 7
Baths: 7 | 2
Sq. Ft.: 19,382
 
$4,450,000
Beds: 7
Baths: 8 | 3
Sq. Ft.: 8,693
 
$2,589,000
Beds: 7
Baths: 7 | 3
Sq. Ft.: 11,472
 
$2,499,000
Beds: 6
Baths: 6 | 3
Sq. Ft.: 13,714
 
$2,400,000
Beds: 5
Baths: 5 | 1
Sq. Ft.: 7,500
 
$2,395,000
Beds: 6
Baths: 6 | 1
Sq. Ft.: 7,386
 
$2,250,000
Beds: 6
Baths: 5 | 1
Sq. Ft.: 7,722
 
$1,999,999
Beds: 5
Baths: 6 | 1
Sq. Ft.: 8,000
 
$1,999,000
Beds: 0
Baths: 0
Sq. Ft.: 5,450
 
$1,995,000
Beds: 6
Baths: 6 | 3
Sq. Ft.: 11,583
 
Information Deemed Reliable But Not Guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please please click here to review our DMCA policy and learn how to submit a takedown request. © 2017 First Multiple Listing Service, Inc.
FMLS data last updated at September 19, 2017 9:43 AM ET

Home Prices the Lowest since Year 2000 in Atlanta

This is definitely the best time to buy in decades.  According to CNN money, home prices are at 2002 levels nationwide but Atlanta, listed with 4 other cities have prices at year 2000 or before.  With interest rates at an all time low and values that dropped in Atlanta 17% since last year, you are crazy not to take advantage of it if you are thinking of buying!  Even if you have to sell to buy, you will more than make up the difference on your sale with a purchase that could prove to be the best buy of a lifetime.    Call me today at 770-354-0243  to get started on your atlanta  home search today, its cheaper then renting in this market. You can always email me as well. Don’t wait another moment, there are some hot deals out there–now its your turn to take advantage of them!

Should your offer be different on a short sale?

The fact is that 29.1% of the market in Atlanta area are short sales, so it is hard to avoid them when you are searching to buy a home.  If you happen to fall in love with one that you want to buy, should your offer be different than a traditional real estate transaction?

The resounding answer is YES.  You need to make sure you have an agent like myself who understands how to structure a contract for short sales.  There needs to be special contingencies as part of the contract so that if you get tired of waiting, and yes you need to be a buyer who can wait 60 to 90 days,  that allows you to get out of the contract if you want to move on and buy something else.

You also need to ask questions of the seller, is there a 3rd party negotiating the short with the bank? Has the seller submitted all required docs to bank?  Has the bank done their BPO? (Broker Priced Opinion)  Is this an approved short sale or not?

Another thing is that this is a distressed property, home warranties, termite bonds, personal property are not usually part of the deal.

If you are looking to purchase a home,  call me today at 770-354-0243 or email me and I can help you navigate through this market and if you happen to find a home that is a short sale, you can rest assured that I will work with your interests in mind when writing the contract.

Location, Location,Location!

If you want to live close in and walk to cool shops, take a look at this home in Smyrna.  2878 Bernard Way, priced at $425,000, a full 100K less than seller paid for the home.  This is a fabulous Craftsman Style  Earthcraft home built in 2007.  This home has so many upgrades it’s hard to name all of them, you just have to see it.  Hardwood floors on main, a gourmet kitchen to DIE for with unpolished granite..very cool, stainless appliances, hip black cabinets, chefs style 6 burner gas cooktop.  Another great feature of this home is the double sided fireplace to the dining room and living room. Coffered ceilings, double trey ceiling in Master, wide substantial trim work. Screened porch and spacious deck for grilling out.   The quality speaks for itself.  4 bedrooms, 3 -1/2baths with 2 additional storage areas.  You don’t even have to mow the lawn, it is included in HOA fees.  Close to 285 and I 75,  walk to the very popular Smyrna Market Village and Durham Park.  Youve got to see the virtual tour–Click here.  Call me today at 770-354-0243 for a personal showing.