Potpourri Category
Water Always Wins – Avoid Trouble…and Mold
Water never sleeps. Ever. It's always looking for opportunity and unfortunately, opportunity is frequently found in and around homes. Georgia is notorious for its clay soils; poor drainage and epic mud. When water collects, it often takes significant time to properly drain - and contrary to popular opinion, pine straw over the top does not prevent issues from developing. The video below was shot because it's a prefect illustration of a home built in a "bowl". This video is a great...Read More
Who Are “They” & What Did They Say Now?
Where does the line between empirical research and hyperbole exist? “Research shows” or “Data proves” are frequently the opening line to something that ends up making a reader wonder just how “they” know that and if that certain conclusion can really be supported. And what about when "they" plant a flag on each side of an argument? "They say that the real estate market is back" vs "They say the improving market is an illusion". "They" can say anything; supporting...Read More
Obama Pushes Banks to Approve Mortgages to Buyers with Weaker Credit
What can possibly be added to this story? The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place. President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people...Read More
What Do Online Home Buyers Look At?
We posted an article showing that impressions are formed in as little as 7 seconds. New research now details how buyers look at homes on line; and if quality photos are absent, so is their attention. 95% of buyers look at the first photo the longest, usually about 20 seconds. Researcher Michael Seiler tracked the eye movements of 45 people viewing 10 online real estate listings with six photos in August 2011, determining that 95 percent of participants viewed the first photo—an...Read More
Critical Steps for Successful Homebuyers
Buying a home is arguably one of the most significant financial decisions that a person makes. As many found out over the last several years, success is not guaranteed and financial calamity can result. While not every variable can be addressed, many of the fundamental ones can and if properly done, trouble down the road may be avoidable. Owning real estate has inherent risks, it also has many rewards and those that take a methodical, systematic approach to home buying tend...Read More
Are Power Lines, Detention Ponds and Cemeteries Bad Neighbors?
Are power lines a better neighbor than someone that fails to maintain their property? Is a quiet cemetery preferable to a party house? The influence of external factors (external obsolescence) must always be considered when evaluating a home, but some of those factors may not always be considered adverse by potential buyers. Like everything real estate related, every situation is different and much depends on the opinions of a homebuyer. External influences like heavy traffic, airport noise, industrial endeavors and similar...Read More
Brookhaven Townhome & Milton Estate Home for Sale
We're please to present two fantastic homes for sale. Buyers looking for a "lock and leave" option need to see this gorgeous Brookhaven townhome. Buyers looking for an impeccable family friendly estate home must visit this Milton home. These homes are each head and shoulders above their respective competition, this is a seller's market right now and we expect these homes to garner plenty of attention. Click on the images to see the details for each of these homes. 1339 Village Park Drive,...Read More
You’re My Agent? I Thought You Were My Plumber?
Turbo Tax is running a commercial that reinforces the importance of using professionals, this fits perfectly with real estate as well. As real estate markets stabilize, the return of the "part time, opportunity, DNA, etc etc" agent is underway. The public - probably for a couple of reasons - fuels their return. The results will be unfortunate for many of these buyers and sellers; just as with the tax laws, real estate has become much more complicated and challenging, what...Read More
Listing Agent Lies…Pants of Many to Catch Fire Soon
Now that the real estate slump has been declared over and real estate markets begin to heat up, it’s a good time to refresh ourselves with “agent speak”. Are some listing agents lying, stretching or just dumb? If even a fraction of listings existed as represented, buyer nirvana would be found. Puffery and exaggeration are the norm of course, fortunately most buyers understand that. But the problem of real estate agents exaggerating or blatantly misrepresenting a home has and continues...Read More
Atlanta Waffle House Adds 20% “Security Fee” to Tabs
Bullets, blood and pepper spray do nothing to enhance a plate of biscuits and gravy. To help ensure that the pepper, not pepper spray is the only spice on your food, the Waffle House at Underground Atlanta has instituted a 20% security surcharge to every bill. This is the same Underground Atlanta that can't understand why the area doesn't attract tourists and businesses can't stay open. The Underground Waffle House opened with great fanfare in 2009, bringing one of the city’s favorite restaurants to...Read More
Is FNMA Forcing Owners into Foreclosure or Helping Expedite Short Sales?
So is FNMA helping or hurting distressed homeowners? Depends who you ask. "FNMA accused of forcing underwater borrowers into foreclosure" wrote one publication while another wrote "FNMA will directly approve short sales". The angel on one shoulder and the devil on the other. From AGBeat: Over the last few months, there has been quite a bit of Internet squawking about the GSEs approach to short sales and foreclosures, particularly Fannie Mae (who seems to rule the roost). Allegations are being made...Read More
7 Seconds to Make an Impression
In 7 seconds you’ll decide whether to continue reading this, if you want to open that listing, if my site is worthwhile or if you want to work with me. If your home is listed and a buyer is reviewing it, you'll have about that same amount of time to hook them. If that listing isn't compelling with rich narrative and illustrative photos, buyers and agents simply move on to the next listing. How many potential sales are lost because of poor presentation? Many....just cruise though...Read More
How to File for GA Homestead Tax Exemption
The Homestead Exemption is available to legal residents of Georgia for their primary homes. You are entitled to the Homestead exemption if you owned and occupied your home by January 1. You are able to claim a partial exemption which can amount to substantial property tax savings. Senior citizens may have additional exemptions available - check with your county tax office. Please note the deadlines in parenthesis next to the county name. What You Need in Order to File: A copy...Read More
FHA Sowing the Seeds for Next Collapse
The Federal Housing Administration is planting the seeds for the next real estate collapse. As the recovery process continues, FHA is marketing homeownership to families who can’t afford to repay their loans, setting up these families for failure. In a study of 2.4 million loans insured by FHA in 2009 and 2010, 9,000 zip codes were identified in which 1 in 7 borrowers are projected to lose their homes – and savings – to foreclosure. How is this not recognized...Read More
Does a Random Massacre Impact Area Homes Values?
The incomprehensible rampage in Newtown shattered the idyllic community and inflicted unimaginable damage to not only the families but to the residents of the community and surrounding areas. Just as Columbine is forever tied to a school shooting, so will be Newtown. Violent crime committed in a home can impact value and marketability, is it the same for an area? Based on the data, no. Based on research, there are far too many variables when considering value trends in an area. Newtown is an...Read More
Downsizing May Be a Mistake
Downsizing isn't always simple, painless—or even all that beneficial financially. The fragile real estate market is leaving many baby boomers with little cash for the next home and their monthly expenses don't fall as much as they thought—or may even rise instead. Then there's the emotional side to it. Many baby boomers are finding they lack the stomach or stamina to dismantle their lives. They can't bear to sort through or part with all those boxes in the basement, or...Read More
Atlanta #2 for Household Growth Over Next 5 Years
Atlanta saw tremendous growth from 2000-2010, the growth patterns spread in all directions as there are no natural boundaries here. Coming out of the funk, Atlanta is again poised for a renewed growth spurt according to research completed by Pitney Bowes. Atlanta is right behind Houston for expected household growth between 2012-2017 and builders are taking notice. As reported in the WSJ: Houston and Atlanta lead the list from both 2000 to 2010 and are expected to top it again for 2012...Read More
Seller Disclosure – Murder Might Have to be Disclosed
Many sellers and even agents are very casual when filling out the seller's disclosure, rarely do issues arise. However, some seller's "forget" to disclose things like insurance claims, homicides, termite issues, criminal activity, unpermitted work and more. It doesn't matter when something occurred, if the seller or agent has knowledge of it and is asked it has to be disclosed. It would be prudent for both sellers and buyers to read the GA Real Estate Commission laws on what a seller...Read More
Kids and Aged Parents Moving Back Home
The contantly changing real estate landscape reveals that more homes are becoming "multi-generational"; husband and wife with two kids and a dog are giving way to a different composition. The economy is largly the reason as the change in household composition continues. A Pew Research report earlier this year showed that the share of Americans living in multi-generational households is at its highest since the 1950s. Young adults ages 25 to 34 are most likely to return to the nest. Almost 22%...Read More
Foreclosed Family Watches Helplessly as Craigslist Crowds Strip House Bare
So is posting a Craig's List ad that says "take what you want" a good idea? Well a Woodstock, GA homeowner learned that people will do just that as they literally broke into it and ransacked, ravaged, and took everything they could. Never a good idea to break into a house, but the ad can be construed to mean "take what you want" - "Fairly large, free yard sale. Moving and we want everything to go for free. So come over and take whatever you...Read More
Are Appraisers Holding Back the Recovery?
The appraisal conundrum continues to rage, we expect this is just a glimpse of what we’ll see come spring. Continued smothering appraisal underwriting, a shortage of closed sales available for use as comps and sellers expecting higher prices due to the “improving” Atlanta market will combine for a testy spring home selling season. But the apparent disconnect between appraisers and agents need not wait for spring. Appraisals have been blamed on derailing a lot of sales in recent years. In fact,...Read More
Interactive Map Shows the Viral Spread of Foreclosures
Housing is finally showing a blip on the heart monitor after years of devastation, but this map is a harsh reminder that the sector still has a long way to go before a full recovery. As the housing economy continues to struggle, there are small signs of health emerging, which CoreLogic’s Chief Economist, Mark Fleming aptly called housing “finding its footing,” in a report released today indicating that foreclosures have slowed for the fourth consecutive month, yet remain below the...Read More
The Trillion Dollar Housing Roller Coaster
The analogy between real estate and roller coasters is obvious. Everyone knows they both have crazy ups and downs. With the U.S. real estate ride lately, we are all wishing we were riding on the kiddie roller coaster with the small bumps and turns. Unfortunately, it’s more likely we are riding on the Kingda Ka roller coaster with its record-breaking 418-foot drop. The RealEstate.com team brings you breaking real estate news weekly, and we’ve noticed a trend – real estate...Read More
Is it a Good Idea to Pay off Your Mortgage Early?
Should you pay off your mortgage early? Being mortgage free is liberating and a goal for many, but is it worth while to do? With interest rates at an all time low, there are wiser avenues to consider before paying off your mortgage. While paying off your loan certainly will give you peace of mind, consider first what is recommended by experts: 1. Do you have enough cash on hand in case of an emergency? Between 3-12 months of living expenses is a recommended amount for safekeeping in a...Read More
How Many Atlanta Home Sales are Lost Due to Low Appraisals?
The issue of "low appraisals" and deals being "lost" in the Atlanta real estate market because of poor appraisal quality is one that isn't going away anytime soon. Agents continue to share stories of seemingly solid Atlanta real estate agreements gone bad as a result of an appraisal that failed to support the contract price. The consequences are not pleasant and some deals will fall apart, other times sellers accept less to get the deal done, buyers add cash to increase the down payment...Read More
Do Street Names Make a Difference on Asking Prices?
The street name of a neighborhood can affect the asking price on a home, at least according to a new survey by Trulia. Trulia analyzed the median asking price per square foot among various types of address suffixes, like “Lane” and “Park.” Street addresses with the words “Boulevard,” “Place,” and “Road” were found to have higher average asking prices than homes with addresses ending in “Avenue,” “Drive,” or “Street,” according to the Trulia study. For example, homes that were located on...Read More
Rent or Buy? Trulia and CNNMoney say in Atlanta, BUY
Trulia and CNNMoney are calling Atlanta a "Buy" before "Rent" market. This is based upon a review of data from their sources as well as Zillow. Trulia and CNNMoney are not the only publications endorsing this, Forbes, the WSJ and USA Today have come to same conclusion about Atlanta. Trulia concluded that owning a home in Atlanta is 57% cheaper than renting: In the other 96 of the 100 largest metros, though, buying is still cheaper than renting. In Atlanta, for instance, where buying...Read More
How to Fire That Ineffective Agent in 3 Minutes
If I had a dollar for every call or email that I get from folks working with ineffective agents I could enjoy a great steak dinner once or twice a month. I am completely lost as to how and why agents have a Svengali like hold on these buyers and sellers. Why would anyone continue to work with an agent that is clearly incapable of getting the job done? I also hear with consistent regularity about completed transactions that have gone wrong; situations where the client...Read More
Banks Still Laughing Six Months After Settlement
We're six months into the wonderful settlement that the banks accepted as "penalty" for their part of the foreclosure abuses and essentially criminal activity. As ridiculous as that "settlement" was, even more ridiculous remains the lack of prosecution of individuals at these organizations that committed apparent illegal activity. Who has actually been held to task? The defense, which seems to be perfectly acceptable is "it's the company, not the individual". Really? Wasn't a variant of that "....it wasn't me, I...Read More
The Debt Dance and Homeownership
As the housing industry continues the slow climb from the abyss, data tends to show that the current rate of homeownership remains low as compared to historical rates. One report has it at the lowest in 50 years and several studies indicate that the homeownership rate among adults younger than 35 fell by 12 percent between ’06 and ’11. The real estate research firm John Burns Real Estate claims the true homeownership rate is 62.1%, with that number including all borrowers...Read More
About 47% of FNMA Inventory Unlisted – The Next Shoe to Drop?
The concept of "shadow inventory" remains mysterious as the definition varies - but in short it reflects homes waiting to be listed for sale. It is also the other shoe waiting to drop. A potentially very large shoe...Shaq sized shoe. Fannie Mae is the largest player in this arena, and it's long been contended that there is a significant back log of homes just sitting. Fannie Mae and Freddie Mac are being accused by some housing analysts as purposely keeping some foreclosures...Read More
Your Kid is Obnoxious and Your Dog Isn’t Cute
It is best for owners to be absent during showings, the next best thing is to go for a walk when buyers arrive. Not a good idea to have your kid playing piano for “mood music” or to have your “show” dogs running around nipping heels. Every so often we run into a listing that simply has us walking away shaking our heads – is it that sellers don’t listen or that they just want to do things their way? This...Read More
“Sharpie Parties” the Latest Foreclosure Activity
In the age of Facebook and Twitter, a new crime has hit America: "Sharpie parties," gatherings of party revelers armed with "Sharpie" magic markers and lured by social media invitations to wreak havoc on foreclosed homes. Five years into the U.S. foreclosure crisis, Sharpie parties are a new form of blight on the landscape of boarded-up homes, brown lawns and abandoned streets. They are also the latest iteration of collective home-trashing spurred by social media. At least six Sharpie parties were reported...Read More
Real Estate Firms Not Satisfying Consumers
A new J.D. Power and Associates study suggests that customer satisfaction with real estate companies is falling among home buyers and sellers. In fact, the study—in its fifth year—suggests that home buyer satisfaction with real estate companies, in particular, is at its lowest level recorded. Seller satisfaction is also down this year, according to the 2012 Home Buyer/Seller Satisfaction Study of more than 2,700 home buyers and sellers. The study measures customer satisfaction with the largest real estate companies, factoring in...Read More
What Home Buyers Want
We’ve all heard that it’s a buyer’s market, but what types of homes are most sought after? According to the National Association of Home Builders and other experts, today’s house hunters are looking for smaller homes (and smaller mortgages), energy efficiency, comfort and organization. Discover which features are topping home shoppers’ must-haves lists, along with predictions on what the housing market might look like in the years to come. Courtesy of: ImprovementCenter.comRead More
Are Appraisers ‘Scared’ to Report Rising Prices?
Issues with “low” appraisals continue to haunt the real estate recovery and they remain a thorn in the side of the real estate industry. The National Association of Realtors polled its members and found that 33 percent of agents had appraisal problems during May ’12. In Atlanta, problems with appraisals are exacerbated by the constant bashing from national data services like Case-Shiller. They note that Atlanta was the worst performing city they track form 3/11 to 3/12 with a 17.7...Read More
Atlanta Home Buyer Questionaire
Selection of a real estate agent in Atlanta remains perhaps the single most important aspect of a real estate transaction. Yet many buyers and sellers continue to not adequately qualify their representative in what is likely to be the largest financial transaction of their lives. We're curious and would appreciate input from both Atlanta home buyers and sellers, a few minutes of your time answering these poll questions is greatly appreciated. Read More
Are You Hot or Not? Good Looking Agents Better At Selling Homes
I was way ahead of the hotness curve on this one. Back in 2/11 we revealed studies that indicated that Good Looking Agents Sell More Homes and now the industry is playing catch up. I was moved by the article titled " I Wasn't Going To Buy This House Until I Saw The Realtor's Headshot On The Sign" and after reviewing that, I knew this was a topic that we had to comment upon. And now the rest of the pack finally gets wise to...Read More
Man Blows Up Home as Foreclosure Notice is Served – Body Found
The "Chicken Man" in Roswell, GA blew up his home Monday as Marshals attempted to serve him notice of foreclosure. After the fire was extinguished, firemen found his body. There was a news crew on site and moments before initiating the explosion he called the reporter to tell the Marshals to leave the property because it “wasn’t going to be pretty.” Then, the home exploded. Andrew Wordes spent many years fighting the city of Roswell as well as Fulton County over...Read More
Human Skeleton Found in Foreclosure
You never know what you might find in foreclosures. I've found dead animals, "hoarder" style homes, those filled with animal and human feces and of course, rat and roach infested homes. I've walked in on drugged out junkies, even thought one or two might be dead...but I've not found a dead body thus far. A Milwaukee agent did...she found forty-one-year-old David Carter's "nearly skeletonized body" on the second floor of his home. A Smith & Wesson 9-mm. handgun was found lying on his...Read More
Updated Unit, Great Views, Black Teddy & Fishnets – $509K
How funny is this... Let's see...updated kitchen, new carpets, view of the river, black teddy worn extremely well, fresh paint.....Here's a twist on the obvious , quality photos sell homes. Trulia posted this attractive 2BR Pittsburgh condo with an asking price of $509,900 and it's likely that there may be adjustments to the pics very, very soon. And if this was indeed a mistake, there's no doubt some poor guy will be groveling in the doghouse until hell freezes over. But it certainly is getting...Read More
*hit Realtors Say Video – All Too Accurate
Here's a great look at the world of real estate agents and one of the "Sheeot ______ Say" You Tube series. This one is "Sheeot Real Estate Agents Say". This is funny but also alarming because while it's tongue in cheek, this is exactly the stuff robot agents are trained to spew. Talking points and scripts are very much alive in the current environment. If you think what is said in this video is all made up banter...think again. You...Read More
Real Estate Agents Sweating out the Slump
This really shouldn't come as a surprise...grab Smokey Robinson...."Now if there's a smile on my face, it's only there trying to fool the public..." Real estate agents keep smiling behind the tears generated by the depressed market. Housingwire magazine reports on the results of a recent agent survey, and the impact that the market is having on many. Some clients are also feeling the impact as agents invest less into client services. The next time you see a well-dressed, smiling real...Read More
Federal Reserve to Keep Interest Rates Low Until 2014
During the past three years the Federal Government has attempted to boost the U.S. economy and has kept the interest rate at an all time low. This was done in an attempt to counter the effects of a financial crisis that has resulted in a painful recession. As of January 25, 2012, the Feds have announced that it is unlikely they will raise their interest rates until late 2014 at the earliest. Read a detailed article posted yesterday regarding how the government is trying...Read More
The High Tech Condo of New York Giant Eli Manning
Since we just posted on Tom Brady's sprawling new home, why not keep in the Super Bowl spirit and take a peak at New York Giant Eli Manning's high tech condo. Located in New Jersey with great views of Manhattan, Eli's home features high end electronics that were designed to be extremely user friendly. Click here to view Eli's New Jersey home. Hopefully Eli will be sitting back in his study watching footage of his 2012 Super Bowl victory!Read More
New England Patriot Tom Brady’s New $20 Million Dollar Mansion
Tom Brady, quarterback for the New England Patriots, is headed to yet another Super Bowl and also into his $20 million dollar Brentwood mansion. Recently reported by the Huffington Post, Tom and Giselle will soon be, if not yet, moving into this 22,000 square foot estate which includes eight bedrooms, a six car garage, a lagoon-shaped swimming pool, weight room and wine cellar. Perhaps Tom will be bringing in a new Super Bowl ring also? Click here to check out Tom and...Read More
What Are The Twenty Least Expensive Homes In The U.S.?
While it seems we may always be fascinated by high end properties and what the most expensive homes in the nation look like, here is a glimpse at the least expensive properties in the U.S. Prices range depending upon which state, with Atlanta topping the least expensive home at $1,200. AGBeat posted the least expensive homes in America in an easy to review format with photos which can be seen here. The above properties are obviously foreclosures in extremely poor condition and reinforces...Read More
What’s in a Name? A New Start for Murder Heights
What's in a name? The real estate industry deserves an extended flogging for the creative abuse of the truth in so many way....pull out any community description and read about "gorgeous water views" (aka sewerage treatment plants) or "adjacent to expansive greenspace" (aka large cemetery) and "walk to public transportation" (or just stick you arm out the window and lose it to the train). Baltimore builder Lawrence Vitali isn't one to play word games; he's a no nonsense, tough businessman who calls...Read More
