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Archive for the 'Buying' Category

First time home buyer tax credit increased

Categories: Buying

First time home buyers  are now being incented even more than before to realize their American dream of home ownership ! Not only are sellers willing to compromise on their price as well as pay closing costs in order to get their home sold, the federal government is also incenting these buyers…The federal government is giving $8,000 in the form of a tax credit to first time home buyers. This revised tax credit previously was capped at $7,500 and a portion needed to be paid back.  Not so now. As long as the home is purchased between January 1, 2009 and December 1, 2009, the 1st time home buyer will receive the $8,000 tax credit and not have repay any of it.  This means… Happy Home buying!  Please see the chart below for all the details of the first time home buyer credit…

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How to get a bargain in today’s Atlanta’s Real Estate Market

Categories: Atlanta Real Estate News, Buying

Okay, so you have been looking to buy a home but you just can’t commit. You have seen plenty of homes but you still think that the perfect one is just around the corner. Perfect meaning that it is a deal of a deal. Perfect meaning that it is it like walking into Saks, buying top of the line, yet when you go to pay all of a sudden you are miraculously at a Walmart cash register.

It seems you are not alone in your quest to find not only the perfect home in terms of condition and location, but to win at price, and to win big at price. Many buyers are looking at every house on the market, even finding a handful of suitable homes, yet they fail to write a single offer. Why? They fear that something better will come along. Better as in less expensive for the same comparable quality.

Enough is enough already. Aren’t you tired of shopping and shopping and coming home empty handed? Here’s the solution…follow these directions and you’ll get what want, a bargain in buyers market…

1) Select your top 5 favorite homes from your showing tours with your Realtor (be sure to include short sales, foreclosures, and even the properties that you think are way over priced)

2) Sit down with your Realtor and write offers (low offers, that is, and make sure to include closing costs to be paid by the seller) on all of them at the same time (this is perfectly legal, just make sure to have your Realtor check off the appropriate information in section 11A #4 on the Georgia Board of Realtors Purchase and Sales Agreement)

3) Once the sellers have responded to you with their counters, take a look and see which sellers are truly motivated to sell

4) Engage in another round of counters, as many as it takes. Remember, patience is a virtue. Possibly even walk away and see which ones call you back

5) Complete negotiations. Enter into one binding agreement. Have your inspections, etc, within your due diligence period. Follow your mortgage lenders requirements. Closing.

Though you and your Realtor may have to do a little more work than typical, it’s better than sitting on your thumbs. And I guarantee, at the end of this process, you will have achieved your two goals - not only will you have the home of your choice but you’ll have it at a bargain price, too!

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Ready…set…buy

Categories: Buying

Many think the real estate market is now something to avoid. I think that it’s about perspective. And opportunity. Consider these statistics…

…According the First Multiple List Service, here in Atlanta we had 53,786 single family homes sell in 2008; this is a decline of 22.1% to that of 2007. However, when compared to the all-time yearly high of 81,071 closings in 2006 the decline is 33.7%. The most recent year to have even fewer closings than 2008 was 2001.

The average price for all single family homes in 2008 was at a decline of 12.3% from 2007.

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What does this mean to the Atlanta consumer? In short, it means opportunity to buy property at discounted, more affordable prices.

Savvy real estate investors see these current market conditions as the ideal climate. Inventory is up and prices are down. These investors are able to pick and chose and buy only the best properties in terms of price, condition and location to add to their real estate portfolios.

But you don’t have to be a veteran investor to take advantage of this buyers market. You may want to buy your first home, second home, vacation home, or first investment property. This is a very obtainable goal however you must take action. My advice would be to first call your Realtor. Together develop a plan to achieve your real estate portfolio goals. Do not let this be a would of should of could of missed opportunity. The light is green so make it happen. You’ll be glad you did.

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Homes for Sale in Atlanta Dunwoody

Categories: Absorption Rate, Atlanta Real Estate News, Buying, Buying Your Home, Market Conditions, Recent Home Sales, Selling Your Home

Market Conditions 

Currently, as of November 7th, 2008, there are 161 homes for sale in Dunwoody, GA.  They are priced between $1,275,000 and $225,000. Clearly there are many choices for buyers. Considering that 27 homes were sold last month, October 2008, in Dunwoody, it will take between 6 to 9 months for the current inventory to be depleted. However, with new listings coming to the market, representing even more competition among homes for sale, it is likely that it will take 12 to 15 months for today’s  current inventory to be absorbed.

What does this mean to Sellers?                                          

To help secure that you will be one of the homes that receives an offer, make sure your house is in top showing condition.  In order to receive an offer, your house must be the best home that a buyer will see. Beyond keeping your home super clean, prepare your home so that is a memorable experience for your potential buyers…and I mean memorable as in terms that it will stand out to a buyer in a good way…

• One simple and cost effective way is to the bring the outdoors in…take advantage of the beautiful fall colors - place some small tree branch trimmings in a  vase - adding this color will create a warm and inviting center piece for the table…and don’t forget to hang a wreath on the front door - this says ’welcome’ to your guests!

What does this mean to Buyers?

Likely that you’ll see more than one home on a showing tour and chances are that you may have a harder time than you expected in remembering what each home was like.  Here’s one way to help: when out seeing homes, keep a clip board with the MLS print outs, and after you’ve walked through, take a quick moment to write some notes to help jog your memory for the end of the day recap. 

• And even though it is a wonderful to time to buy a home during a Buyers Market, have realistic expectations. Yes, you may be able to have your cake and it, too, but be careful about asking for the ice cream on the side. You don’t want the other party to dig their feet into the sand. Remember, for a negotiation to be successful, both parties must feel as though they’ve won.

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Atlanta Real Estate Market Absorption 12 - 16 months

Categories: Absorption Rate, Atlanta Real Estate News, Buying, Market Conditions, Selling Your Home

 

The Atlanta Real Estate Market has historically been a SELLERS’ Market. It could be said it’s been a strong SELLERS Market for about the last 10 years, that is up until the shift. It’s been a shock to many Atlantan home owners who are selling in a BUYERS’ Market. How did this happen? The answer, in two words or less…market absorption.

Market absorption measures the number of properties currently on the market and the average market demand…how long will it take to deplete the inventory of those properties. The absorption rate is a simple equation that holds volumes of information for both Sellers and Buyers.

To learn the Absorption Rate… 

1. Determine the rate at which properties are selling: Properties Sold in Previous Year / 12 months = Monthly Absorption Rate

2. Take a snapshot of current inventory based on that rate: Properties Currently For   Sale / Monthly Absorption Rate = Months a Typical Property Will Take to Sell

How is the Real Estate Market defined?

• SELLERS Market ‹ 5 months of inventory

• Transitional Market ≤ 7 months of inventory

• BUYERS Market › 7 months of inventory

Currently, metro Atlanta has between 12 and 16 months of inventory. We have more supply than demand and that makes us officially in a Buyers Market.

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Price is Right Real Estate

Categories: Atlanta Neighborhoods, Buying, Buying Your Home, Dunwoody, Price is Right

We have searched for the top “Price is Right” Real Estate deals of the week. This week we have scoured some of the best Dunwoody neighborhoods.  The following single family homes for sale have made it to our Top 3.

1. Dunwoody Club Forest homes typically sell around 600k with the highest topping in at 1.8 million. We have found a home that is currently for sale priced at 375k!

2. Mill Glen homes typically sell between 400k and 550k with the highest topping in at 1 million 38 thousand. We have found a home that is currently for sale priced at 339k!

3. Mt. Vernon Springs homes typically sell around 500k with the highest topping in at 590k. We have found a home that is currently for sale priced at 399k!

Today’s real estate market in Dunwoody affords a plentiful selection of homes, low interest rates, and motivated SELLERS…what a great position for BUYERS to enjoy!

If you’d like to see any of these home, email us or just pick up the phone and call us - you’ll be glad you did!

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Question - how’s the real estate market?

Categories: Atlanta Real Estate News, Buying, Market Conditions

How is the real estate market is the number one question we are asked, whether we are at the grocery store, at a party, at the ball fields, the tennis courts, the pool, on the phone with a friend or relative, or just walking down our very own street chatting with our neighbors. It’s a question that everyone wants to know the answer…even if they are not currently selling or buying a home, they still want to know. Perhaps it is to estimate their home’s current value. Or, perhaps it is wanting to have some real world interpretation of what the real estate market is doing in their own backyard vs the media’s broad range of coverage through out the US.

SO…how IS the real estate market in Atlanta?

Real estate is dynamic. Two years ago was different than today. Two years from now promises to be different from today. What do I mean by this? In any real estate market, it is important to recognize the market trends. AND how to best take advantage of these trends. In every Real Estate market, there is opportunity.

Today’s current market presents many opportunities for Atlanta buyers: historically low interest rates - currently 5.5 30 year fixed, large selection of available homes to choose from for both resale and new construction, and most sellers are willing to compromise to facilitate the sale.

Buyers today have the opportunity to afford a home or neighborhood that they previously may not have been able to afford. Buyers today have the opportunity to diversify their portfolio by buying properties as investments. Additionally, 1st Time Buyers today have the opportunity to take a $7500 federal tax credit. 

Interested in creating your own opportunity? We’d love to help make it happen…contact us.     

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What makes my day as an Atlanta Realtor

Categories: Atlanta Real Estate News, Buying, What makes my day

In any line of work, I would imagine that there are definite highs and lows…for me, being a Realtor, there are definite highs and definite lows.  Some days are filled with a lot of stress.  Those days would be the lows. I could go on about what those stresses are, but I would prefer to write this article about ‘what makes my day’…We have a client that recently purchased a home in Dunwoody, in fact she is still finishing up her unpacking and painting…making it just right for her and her family. Anyway, she emailed me to let me know she was very excited that she had just ordered a ‘lil giant ladder’ (on my recommendation from one of the conversations we had had while searching for her perfect new home). And that was nice to hear, but, what was even nicer to hear was that she LOVES her new home! Well, that just made my day!

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Dunwoody Open Houses this Sunday, Sept. 7th 2- 4

Categories: Atlanta Real Estate News, Buying, Dunwoody, Open House

We are featuring two of our listings as Open Houses this Sunday! These homes for sale are both located in Dunwoody, just one turn off of Mt. Vernon. The addresses are 5163 Vernon Ridge and 5348 Northchester Court.

Why visit an Open House… here’s some answers that have made it to my top 9!

1. Easy &  casual way to see the inside of a home
2. Helps determine how you feel about the neighborhood - might even meet some potential neighbors…
3. Opportunity to see a wide range of homes 
4. Educate yourself on the current market in terms of price, condition & location
5. Just want to see the neighbor’s house
6. Help with friends search for homes that want to live near you
7. Get home improvement ideas
8. Opportunity to meet real estate professional
9. Enjoy a sweet lemonade & cookies

See you this Sunday!

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