Wednesday, December 29, 2010

2010.....A Market Overview

This past year has been very challenging for real estate. The market was defined by outside intervention. This intervention tugged at historic trends. Government involvment caused market fundamentals to be distorted beyond recognition. Unpredictability was the only thing we could predict.


The administration's announced goal of the modification program was to save 3-4 million families from losing their homes. The actual number of homeowners assisted will come in at less than one million. Most consider the program a failure.

However, we believe that there was a secondary unannounced goal of the modification program: to slow the flow of foreclosed homes to the market. Putting homes through the modification process prevented banks from moving forward with the repossession process as quickly as they normally would.

Limiting supply was one of the ways the administration used to help stabilize home prices. However, the administration has recently slowed the modification process. Going into 2011, a larger number of foreclosed properties will enter the market.

Interest Rates

The administration began to control rates back in 2009 with the purchase of mortgage-backed-securities. When it was announced that the government would back off the purchases in the spring of 2010, everyone (including us) believed that mortgage rates would climb back to historic norms (6-7%) by the end of the year. The exact opposite took place. Rates fell to almost 4% on 30-year mortgages before jumping back to the 4.5 – 5% range at the end of the year.

The most amazing part was that the lower interest rates did not seem to spur buyer activity as sales softened while rates continued to fall through the year. Interest rates, at best, helped in maintaining demand in 2010.

Home Buyers' Tax Credit

Again, the administration's goal was to stabilize home values. The tax credit was supposed to drive housing demand. And it did – for the first four months of the year. However, it now appears that the tax credit did not increase overall demand, but instead, just pulled that demand forward.

Bottom Line

By decreasing supply (mortgage modifications limited the number and impacted the speed of foreclosures entering the market) and increasing demand (lowering interest rates and issuing a tax credit), the administration tried to stabilize the housing market. They accomplished some of their goals in a limited way.

We will not see this magnitude of government intervention in 2011 however. What will that mean to housing next year? We will give our thoughts on that in tomorrow's blog.

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Tuesday, December 21, 2010

5 Reasons You Should Sell Right Now!

Selling your house in today's market can be extremely difficult. It is for that reason that every seller should take advantage of each and every chance that appears. There is a fantastic opportunity available right now.

Here are five reasons you should consider selling in the first 90 days of 2011

1. Interest rates have spiked up.

Rates have jumped over 1/2 point in the last several weeks. The short term result of increasing rates is a surge of buyers jumping off the fence to purchase in fear that rates may continue climbing upward. This is a short window of opportunity. If rates fall again, buyers will jump back on the fence. If rates continue to rise, it limits the number of buyers who can qualify at each price point. Now is the best time to sell your house.

2. If you are moving up, you can save thousands.

If your family goal is to sell your current house and take advantage of the fabulous selection of properties currently available to buy the home of your dreams a at bargain basement price, DO IT NOW! Prices will continue to soften in most markets. However, if you are buying, COST should be more important than PRICE. Cost can be dramatically impacted by rising mortgage interest rates. Do the math and decide if now is the time.

3. During the winter months, the buyers are serious.

We all realize that buyers are not quick to pull the trigger on the purchase of a home today. There is no sense of urgency with the supply of eligible properties at all time highs. However, at this time of year, the 'lookers' are either staying warm (in the North) or just busy with other priorities. The home buyers left in the market are serious and are more apt to buy. Less showings – but to more motivated purchasers.

4. You beat the rush of inventory that is coming next year.

Every year there is an increase of inventory which comes to market from January through April as homeowners put their houses up for sale in preparation for the spring market. Here is the number of listings available for sale in 2010.

■January – 3,277,000

■February – 3,531,000

■March – 3,626,000

■April – 4,029,000

We believe there is a pent-up selling demand (homeowners who have held off selling over the last year) that will lead to an increase in these numbers this spring. You won't have to worry about this increasing competition if you sell now.

5. You have less 'discounted' inventory with which to compete.

This year, sellers of non-distressed properties have been given an early holiday present. With banks trying to rectify their foreclosure procedures, there has been a large supply of discounted properties removed from competition. No one knows how long it will take banks to return to the normal flow of foreclosed properties to the market. However, until they do, every homeowner has a better chance of selling their property.

Bottom Line

If you are looking to sell in 2011, there may not be a more opportune time than this right now. Serious buyers, great move-up deals and less competition from super-motivated sellers and foreclosures creates the perfect selling situation. Don't miss it!

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Wednesday, December 15, 2010

Are Homes Actually UNDER-Valued?

We have been barraged with headlines and news stories telling us that home values will continue to soften for the next several quarters. Some experts are predicting that today’s values will drop and not be seen again until the middle of 2012 at the earliest. We concur with these estimates based on the current demand for housing in relationship to current supply of both the visible and the shadow inventory of houses. Here we are discussing ‘market value’.

However, there is another way to value residential real estate. Housing analysts look at the ratio between current wages and sales prices. They use a multiplier to determine how much home the average buyer can afford and compare that to the average price at which a home sells. DSNews just ran an article on this subject. They stated:

The sharp fall in residential property prices in the third quarter means that housing in the United States has become even more undervalued, according to the analysts at Capital Economics.

Based on the latest S&P Case-Shiller index, Capital Economics has concluded that house prices are now 17 percent undervalued relative to disposable income per capita. Housing has never before looked as undervalued, the firm pointed out in a research note released to DSNews.

Looking at the data included in the index compiled by the Federal Housing Finance Agency (FHFA), residential home prices are 14 percent undervalued, which is also a record, according to Capital Economics.

The National Association of Realtors (NAR) has their own Housing Affordability Index. According to NAR:

The affordability index measures whether or not a typical family could qualify for a mortgage loan on a typical home. A typical home is defined as the national median-priced, existing single-family home as calculated by NAR. The typical family is defined as one earning the median family income as reported by the U.S. Bureau of the Census. The prevailing mortgage interest rate is the effective rate on loans closed on existing homes from the Federal Housing Finance Board and HSH Associates, Butler, N.J. These components are used to determine if the median income family can qualify for a mortgage on a typical home.

In their article, DSNews also addresses the NAR index:

The housing affordability index from the National Association of Realtors (NAR) remains close to its record high. Capital Economics explained that NAR's affordability assessment indicates that a median income household with a 20 percent down payment can now more easily afford the monthly mortgage payments on a median-priced home than at any time in the last 30 years.

By each of these historic measurements, homes are at all time values!!

Bottom Line

Lack of consumer confidence has caused many buyers to refrain from taking advantage of the golden opportunities that exist in housing today. However, buyers should look at COST (price and interest rate) not just price. People who purchase today will reap the reward of buying an undervalued asset and should enjoy excellent appreciation when inventory levels return to normal levels.

If you're not looking for a home right now.....why not? You're missing out! If you currently own a home, have you thought about the possibility of "moving up." There are excellent opportunities everywhere!

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Monday, December 13, 2010

Reason #46 as to Why It's Important to Purchase Title Insurance

When purchasing a home in Georgia, it is standard that the title be conveyed by a general warranty deed. In fact, the standard Georgia contract reads under paragraph 8 regarding Title:

"A. Warranty: Seller warrants that at the closing Seller will convey good and marketable title to said Property by general warranty deed ......"

But when it comes to purchasing a foreclosure/bank-owned property, the seller typically only provides a special (or limited) warranty deed. They will normally either make the change on the Georgia contract or have the buyer sign off on their bank addendum that advises of the change in the type of deed. Before you sign off on it, make sure you know the difference:

Under a General Warranty Deed, the seller warrants title to the property since the dawn of time. If there is a defect, regardless of the cause, the buyer has the option of proceeding after the seller for any resulting damage. Under a Limited or Special Warranty Deed, the seller is only warranting the title during the period of their ownership. They do not warrant anything that may have happened in the backchain of the title.

This may panic you at first, but this is where the importance of title insurance comes in. If a blemish on the title came up after closing and it was something that was prior to the bank's ownership of the property, then you would be S.O.L. (pardon my french, but it's the best way to put it!); however, IF you purchased title insurance, then you could file a claim under the policy. See why it's important to purchase title insurance? I always tell my buyers that title insurance isn't like when you purchase an electronic at Best Buy and they offer you the extended warranty for an additional fee - I think most of us turn that offer down. This is SO much more important than an extended warranty! You may think that title issues are rare, but come sit down with me and I'll share some of the horror stories with you.

Title insurance is a one time premium that is paid at closing (factored into your closing costs) and it protects you for as long as you or your heirs own the property. The cost varies based on the value of the property, but it's not a large expense and is so incredibly worth it. Depending on the policy, it can cover things like: sudden appearance of unknown heirs claiming interest in the property, forged deeds or impersonations, incorrect legal descriptions, improper recording of deeds, etc.

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Thursday, December 9, 2010

20,000 Houses will Sell This Weekend.....Will Yours?

There is no doubt that demand for housing has slowed. The National Association of Realtor's 3rd Quarter Existing Homes Sales Report showed that sales were down in all fifty states and the District of Columbia (3rd quarter vs. the 2nd quarter). The decline was in double digits in all but two states (Nevada and California). Those are the facts.

But let us not allow the facts to get in the way of the truth. The truth is that over 4 million homes will have sold in this country by the end of the year. That averages out to be over 10,000 houses a day! Every day – 365 days a year!

Houses are selling. The question is will your house be one of the 10,000 that sell today. That is entirely up to you. You and your family can move on with your plans and dreams immediately. You just have to be willing to price the house at what today's purchaser is willing to pay. Will you be able to sell it for what it would have sold for in the past? Probably not. Will you be able to sell it for the price you had desired? Probably not.

You must weigh the cost of selling today (a reduced profit on your home) against the cost of not getting on with your life. There is no doubt that money is important to everyone, especially today. Being able to follow your plans and dreams is also important however. Don't allow money to ultimately control that decision.

Decide what is best for you and your family – AND DO IT!!

We can show you how. A few times a week we sit down with homeowners and give them the info they need to make a decision. Just last night we delivered some heart-breaking news that the $40,000 the homeowner had put down on the home four years ago has been eaten up by the market's depreciation. There are always other things to take into consideration, however. There's opportunity in Florida, her next destination, where she will likely be able to buy a "dream home" for $150,000 vs. the price tag of $350,000 three years ago. Let us help you make one your most important decisions!

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Friday, December 3, 2010

Spreading Holiday Cheer - Holiday Events this Weekend

Ok, so the holiday spirit is coming out in us! Just for a minute we're not going to talk about Real Estate!

We wanted to let you know of some fabulous local events to celebrate the Christmas season. Since we live in Fayette and Henry Counties, we're highlighting events in these areas. If you know of anything else good, please leave a comment so we can share.

1. Fayetteville's Christmas ParadeThis Saturday, December 4th, at 4:30 up and down the sidewalks of downtown Fayetteville. The tree-lighting and festitivities will take place at 6:00 on the square. Heritage Christian Church (right downtown) will have costumed Dicken's characters handing out warm chestnuts. There will also be free hot cocoa and Santa carriage rides from 7:00-9:00.

2. McDonough First United Methodist's Christmas Tour of Homes
This Saturday, December 4th, starting at 10:00am and ending at 3:00pm. Tickets can be purchased online at or in person at the Church the day of, located at 151 Macon Street in McDonough (just off of the square). Tour private owned decorated homes all around McDonough. The cost is $10. Once you purchase a ticket, you are given tickets and a list of the homes with directions. You drive from home to home and take the tours at your leisure anytime between 10-3. Did we say we weren't going to talk about Real Estate......ooops! You can bet we're going to look at these homes.....not just because we love houses, but even us Realtors need some holiday enjoyment too!

3. The Avenue Shopping Center in Peachtree City
Every Sunday between Nov 28-Dec 19, The Avenue hosts photos with Santa and horse drawn carriage rides for free. If there's inclement weather, Santa will be in the Joe Muggs coffee shop inside the book store in the shopping center. The Avenue is also decorated so pretty during this time of year. Mix in some shopping while you're there!

4. Our Coldwell Banker Bullard Offices Participate in Toys for Tots
If you participate in Toys for Tots, or would like to, our offices are drop centers for the toys. The Marines will be picking up on December 29th so anytime between now and December 18th you may drop off a new and unwrapped toy. I am told the greatest need right now is for children ages 0-2 and ages 10-13. A list of our office locations can be found at . You can also drop off at any Publix Grocery store location if that's more convenient.

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Monday, November 29, 2010

Difference Between a "White Lie" and "Lying"

When Rebekah & I were growing up our parents instilled in us the value of telling the truth. We were told the story of "The Boy Who Cried Wolf" over and over and I (Melissa) share that with my children now. Our parents had no tolerance for lying. With that said, there was always this gray area of "white lies." According to our friends and even some teachers, it was ok to tell a "white lie" so long as no one got hurt. It was hard to discern why that was ok, but plain out "lying" wasn't (a lie is a lie right)? Now that I'm older, I think I understand now.

If a husband or wife asks if it is okay to invite their parents over for dinner, the spouse would probably say 'sure' even if it wasn't 100% the truth. That was a 'white lie'. If a young boy dresses up as a monster on Halloween and asks his father if he looks 'really scary', it was okay for his dad to say 'YES'! That was a 'white lie'.

In both cases, the person telling the 'white lie' was saying what the other person wanted to hear. In both cases, there was no harm in not telling the 100% truth. In both cases, it was a 'white lie'. However, if we are not telling the 100% truth in order to save someone's feelings AND IT HURTS THEM, we are lying.

Why am I bringing this up in today's blog?

I believe there are still some in the real estate industry more worried about a homeowner's feelings than they are about telling the truth about the current value of their home. These agents are not necessarily malicious. They just realize they may disappoint a seller at a listing appointment by telling the truth about what the house will sell for. They find it difficult to deliver tough news. To make sellers feel better, they lie and sometimes they do it just to get the listing!

Good agents can deliver good news. Great agents know how to deliver tough news.

In today's real estate market, YOU NEED A GREAT AGENT. You need an agent that will tell you the truth, even when you don't want to hear it. You need an agent more worried about your family than they are about your feelings. You need an agent who can get the house sold! That's us. We have disappointed people by telling the truth. We have hurt people in their pockets by telling the truth. At the same time, we've helped dozens of families by telling the truth and we've moved them to the next chapter in life by telling the truth. It is always the right thing to do in our eyes. In the end, they always understand why we did what we did, even if they didn't like it.

What this means to you

If you are interviewing potential listing agents, demand they tell you the truth. Don't hire the agent that tells you what you want to hear. Hire the agent that tells you what you need to know. Reward their honesty.

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A portion of this material was taken from: KCM Blog

Friday, November 12, 2010

Why Are Housing Prices Still Falling?

In the past few days, three separate pricing reports showed that national house prices have begun to soften. Altos Research shows that prices fell 3.1% over the last three months. Clear Capital's Home Data Index Market Report shows that prices have fallen 5% in the last quarter. The Zillow Real Estate Market Report shows a 1.2% quarterly decline and a 4.3% yearly decline. Anyone selling a house should understand what is currently happening in the market and what impact certain factors will have on prices over the next six months. Let's look at those factors.

The Expiration of the Homebuyers' Tax Credit

The tax credit was introduced by the administration to stabilize house prices. The TARP Report spells this out quite clearly. The thinking was, if they rewarded purchasers to buy, they could lower the months' supply of housing inventory. By increasing demand and decreasing supply, prices would level off. And they did originally.

However, when they extended and expanded the tax credit earlier this year, the opposite occurred. When buyers came out, more property owners (individual homeowners who had previously held off putting their home on the market and banks with an ever increasing supply of foreclosures) decided that was the time to put their houses up for sale. Instead of lowering supply, it actually increased the supply of homes on the market. Inventory rose and demand faded with the expiration of the tax credit. Larger supplies and less demand will cause prices to fall.

Distressed Properties

Foreclosures and short sales have dramatically affected prices in almost every section of the country. Zillow has reported that 20.1% of all homes sold in September were foreclosures and an additional 27.3% were short sales. A foreclosure, on average, sells for 65% of full value and short sales sell for 85% of full value. Obviously, as more distressed properties sell the more the average sales price falls.

Distressed properties also have a major impact on appraisals. Even if a non-distressed property sells, the appraiser may use distressed properties to determine value in that neighborhood. We can see that distressed properties therefore impact prices even on the non-distressed properties sold.

We will be dealing with this issue for some time while banks clear the inventory of foreclosures they currently own. It was just reported that there is over 40 months of supply we must work through. Increased supply causes prices to soften.

Lack of Consumer Confidence

Many economists believe that the housing recovery depends on resurgence in job growth. It will be difficult for the buying public to have the confidence to make big ticket purchasers (including housing) until they are confident that they can stay employed. Demand will continue to be weak until the economy recovers. Weak demand causes prices to fall.

Bottom Line

Pricing of any item is determined by the ratio of supply and demand. Demand for housing will remain soft until the economy recovers. The months' supply of housing inventory continues to remain too high and is increasingly being made up of distressed properties which are sold at a discounted price. That means that nationally home prices will continue to fall.

Please call or email a Realtor  (preferably us HAHA) to determine how the above issues will impact prices in your area. Make sure they tell you the truth not just what you might want to hear. Only by knowing the truth can you pick the best option for you and your family.

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Content Taken from KCM Blog

Tuesday, November 9, 2010

Real Estate in Numbers: Clayton County, Fayette County, Henry County

We previously posted a blog that shows the first quarter numbers versus the second quarter for Clayton County, Fayette County and Henry County. We're a month late, but here's how the third quarter compared:

Notice how in each county listed above, the second quarter numbers are better than the first and third. Wonder why? ...the home buyer tax credit. In order qualify for the credit, buyers had to be under contract by April 30th and closed by June 30th (the close date deadline ended up being extended later on, but originally it was June 30th). With more sales and a higher average sales price, I would say it worked; however, now that it's gone, we're seeing the true colors of the 2010 real estate market. Over to the right of each table, I've included the 3rd quarter numbers for 2009. Remember Melissa's post about waiting until next spring to list your home? This is a clear example as to why that might not be such a bright idea. For the folks who considered putting their home on the market in the 3rd quarter of 2009 but waited until early spring, look at the price differences:

Clayton County 3Q2009 VS 3Q2010: 12.13% decrease in value
Fayette County 3Q2009 VS 3Q2010: 3.15% decrease in value
Henry County 3Q2009 vs 3Q2010: 2% decrease in value

The numbers are clear... values are still declining! So if you're thinking of selling, unless you can afford to wait a few years, now might be the best time to sell. In a few months, the numbers will likely still be declining as our market hasn't hit rock bottom yet.

We can't wait until the day that we can post a blog about the increasing value and appreciation we're seeing across the southern crescent of Atlanta, but until then, we're calling it like we see it!

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Monday, November 1, 2010

Will Your House be Worth More in the Spring?

This is a question anyone thinking about selling must ask. Should they sell now or should they wait for the spring? Most years that would be an interesting question. There is a belief that many buyers come out in the spring and, with that increase in demand for housing, prices may appreciate. This year is unlike any year in recent memory. Most experts believe there will be continuing depreciation of home values throughout the next 18 months.

As we posted on recently, there may be a window of opportunity throughout the rest of 2010 as the banks try to straighten out the paperwork on thousands of foreclosures. Once that paperwork is corrected, the flow of distressed properties coming to the market at discounted prices will begin again.

This was mentioned in the latest Home Price Expectation Survey. Robert Shiller, MacroMarkets co-founder and chief economist said this:

 "Over the past month, the average projection for 2010 nationwide home price performance improved slightly among our experts, but for each year thereafter it deteriorated. One plausible explanation for this month's more negative overall sentiment is recent news concerning foreclosure processing questions and the related possibility of extending the supply pipeline."

Other experts are also reporting that prices will soften next year

In October's RPX Monthly Housing Market Report, CEO Michael Feder commented:

"We are at a flex point in housing valuation. With record supply, already paltry demand and systemic threats to a possible correction, we remain terribly concerned about forward home prices.”

The very next day, in a special release, Clear Capital reported a "sudden and dramatic" drop in U.S. home prices:

"Most recent data shows a two-month 5.9% price decline representing a magnitude and speed of decline not seen since March 2009; similar declines for September and October expected to appear in other industry indices in coming months."

Bottom Line
If you plan to sell within the next year, you shouldn't wait for the spring market. Price the home at a compelling price to make sure it sells in the next sixty days.

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Thursday, October 28, 2010

Contract Chatter: Protect Yourself with Due Diligence

 Contract Chatter: Protect Yourself with a Due Diligence Period (Home Inspection)

We see all kinds of contracts come through - some are written perfectly, some are kind of sloppy, and some are just plain rediculous. Just because an agent successfully obtained their real estate license through the state of Georgia, doesn't always mean that they know the best ways to protect their clients. In fact, you don't really learn that through your licensing classes, it comes from experience. Here's one great tip to help protect you when purchasing a home- There is a section of the contract titled "Property Sold Subject to Due Diligence or 'As-Is'" (see above) on page 3 of the Georgia Contract, paragraph 11. This is one of the most important aspects of the contract. There are two options to this section: 1) Property Sold Subject to Due Diligence or 2) Sold As-Is. Be sure that you have a due diligence (inspection) period - Check that box! (yelling "check - that -box" kind of like they yell "move-that-bus!" on Extreme Home Makeover) There are many miconceptions about bank owned properties being sold as-is and so therefore, agents check the "as-is box" which is a huge mistake. Yes, it's true - many of them will make no repairs (but a great agent knows that sometimes they will - even if they say they won't. Be sure to have a good, aggressive agent working for you!). Even if a property is being sold as-is and without repairs, a buyer still has the right to have an inspection and terminate the contract with no penalties or risks should they uncover something they're not satisfied with. The due diligence period actually offers even more than the right to have an inspection. It offers the right to terminate the contract for any reason so long as you do so during the negotiated time frame, normally 7-10 days. By checking that awesome little box, you're creating an option contract until the due diligence period expires. After the expiration of the due diligence period, you risk losing your earnest money if you terminate and because the contract is a legally binding document, the seller could kindly request to see you in court for breech of contract.

We never recommend that our buyers pass up the due diligence period. We see a ton of offers/contracts come through with the as-is box checked and it always makes me wonder - why would you do that to your buyer? Although a buyer can still have an inspection when the "as-is" box is checked, they will lose their earnest money if the inspector found some major issues. Not fair, huh? Be sure to have an experienced agent representing you so that you're fully protected! A great agent will also be very detailed in helping you manage all of the important deadlines associated with contracts (due diligence period, financing contingency period, appraisal contingency period, etc).

Now on the flip side, understand the seller's perspective - it's not appealing to the seller to enter into a contract in which the buyer request a lengthy due diligence period. The purpose of this time frame is to give you enough time to inspect the house and feel comfortable with the condition - not for you to have a permanent out all the way up to the closing date. Asking for 25 days of due diligence will definitely put a bad taste in the seller's mouth and lead them to believe that you're not serious. A quick note to sellers -- denying a due diligence is a sure fire way to scare the buyer off. They'll be gone quicker than you can say "no due diligence." If you deny the right to an inspection it will seem as if you're hiding something. It's perfectly normal and acceptable to allow at least 5-10 days for due diligence.

If you have questions about the due diligence period or any other contract questions, give us a call or email us. Although we're not attorneys and can't offer legal advice, we can still help you understand the documents that we deal with on a daily basis!

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Your South Side Source for Real Estate! Serving South Metro Atlanta: Clayton County (Jonesboro, Rex, Riverdale, Conley, Forest Park, Ellenwood), Henry County (McDonough, Hampton, Stockbridge, Locust Grove), Fayette County (Peachtree City, Fayetteville, Brooks, Tyrone), Spalding County, Pike County, Rockdale County, Butts County (Jackson Lake), etc.

Wednesday, October 27, 2010

Best Time to Buy AND Sell?

If you know a great real estate professional (AHEM.......Us), you might be questioning them right now. They may tell a friend of yours in the afternoon that this is a great time to buy a home and in the evening tell another friend that they have to lower their price in order to sell their home. Wait a minute. How can it be a great time to buy if prices are falling? Is the real estate agent just saying this to make a sale? Actually, the agent is 100% correct. Perhaps for the first time in American real estate history, you must buy now and you must sell now. How can this be? Because what is important to the buyer is different than what is important to the seller. Let us explain.

The most important thing to the seller: PRICE

Every seller is most concerned with trying to get the best price possible for their home. In order to do that, they must sell now. Banks repossessed the highest number of foreclosed homes in history last month. These houses will come to market at dramatically discounted prices. This is the main reason analysts are calling for another dip in prices over the next eighteen months. The best advice a seller can receive is to sell their home now before these foreclosures come to market.

The most important thing to the buyer: COST

Price plays a part in the buyer’s decision. However, the most important thing to most buyers is the cost – the mortgage payment they must pay every month. That payment is determined by the price of the home AND THE INTEREST RATE ON THE MORTGAGE. Rates are artificially low because of government intervention. That will not last forever.

The National Association of Realtors (NAR) has projected that rates will rise over the next seven quarters. What will that do to the cost? Here are NAR’s projections and what impact it will have on a $100,000 mortgage:
As we can see, the interest rate has a major impact on the COST of the home. Even if prices continue to fall, the cost may not go down if interest rates increase.

Bottom Line
Your real estate agent is trying to give the best advice they can to every family they work with – even if that advice seems to be counter intuitive.

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KCM Crew, October 26, 2010

Tuesday, October 19, 2010

5 Reasons You Should Sell Your Home Now!
Selling your house in today's market can be extremely difficult. It is for that reason that every seller should take advantage of each and every opportunity that appears. Each fall, such an opportunity presents itself. This fall, that opportunity may be just too good to pass up.

Below are five reasons you should consider pricing your house to sell in the next 90 days. Meet with your real estate agent and mortgage professional today and see whether it is the right move for you and your family.

1. Entering this time of year, the buyers are more serious.

We all realize that buyers are not quick to pull the trigger on the purchase of a home today. There is no sense of urgency with the supply of eligible properties at all time highs. However, at this time of year, the 'lookers' are at the stores doing their holiday shopping. The home buyers left in the market are serious and are more apt to make a purchasing decision. Less showings – but to more motivated purchasers.

2. If you are moving up, you can save thousands.

The Chicago Tribune stated in an article last week that sellers who want to 'trade up' should act now:

It could be a bigger house, different neighborhood or a better school district, but it comes with a higher price tag. Do the math; this might be the right time.

A home that was once worth $300,000 may now be worth $240,000 in a market where prices have fallen 20 percent. Wow, you think, the seller is taking a bath. But that seller may also be a prospective buyer who wants a house that once was valued at $400,000. With an equivalent market drop and a realistic listing price, that house may now sell for $320,000. So, in effect, the person is losing $60,000 on the sale of one home but coming out ahead $20,000 on the purchase of another.

Keep in mind the spread may be even greater. There’s a smaller pool of potential buyers for more expensive homes, so sellers may be more willing to cut their price to get a deal done.

3. Interest rates just fell again – to 4.19%.

Professor Karl E. Case, the founder of the Case Shiller Pricing Index in an article in the New York Times last month actually did the math for us:

Four years ago, the monthly payment on a $300,000 house with 20 percent down and a mortgage rate of about 6.6 percent was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20 percent down would carry a rate of about 4.2 percent and a monthly payment of $833 ... housing has perhaps never been a better bargain.

4. You beat the rush of inventory that is coming next year.

Every year there is an increase of inventory which comes to market from January through April as homeowners put their houses up for sale in preparation for the spring market. As an example, here is the number of listings available for sale in each of those months in 2010.

January – 3,277,000

February – 3,531,000

March – 3,626,000

April – 4,029,000

You won't have to worry about this increasing competition if you sell now.

5. You have less 'discounted' inventory with which to compete.

This year, sellers of non-distressed properties have been given an early holiday present. With banks declaring a suspension on the sale of many distressed properties (foreclosures), there has been a large supply of discounted properties removed from competition. No one knows how long this self imposed moratorium will last. However, while it does, every homeowner has a better chance of selling their property.

Bottom Line

If you are looking to sell in the near future, there may not be a more opportune time than this fall. Serious buyers, great move-up deals and less competition from foreclosures creates the perfect selling situation. Don't miss it!

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Courtesy of KCM Blog

Tuesday, October 5, 2010

 If HE Says It Is Time To Buy a Home, BUY A HOME!

"If you don't own a home, buy one. If you own one home, buy another one. And if you own two homes, buy a third and lend your relatives the money to buy one."

– John Paulson 9/27/2010

WOW! That's a powerful statement.
There is no question that John Paulson is a bull when it comes to residential real estate right now. Should we care what Mr. Paulson thinks? Should we listen to him? The answer to both questions is a resounding 'YES'. Here are several reasons why.

Who is John Paulson?
Paulson is the person who made a fortune betting that the subprime mortgage mess would cause the the real estate market to collapse. He understands how the housing market works and knows when to buy and when to sell. What do others think of Paulson?

According to Forbes John Paulson is:
"a multibillionaire hedge fund operator and the investment genius who made a killing going short subprime mortgages a few years ago."

According to the Wall Street Journal Paulson is:
"a hedge fund tycoon who made his name, and a fortune, betting against subprime mortgages when no one else even knew what they were."

What did other financial players think of his statement?
The Wall Street Journal agrees with Paulson:

"Ignore the critics. The odds have to be on his side...It isn’t just that home prices have fallen a long way. It’s also that, if you can get a mortgage, you are basically taking a reverse bet on the bond market. You could be a long-term borrower at fixed rates, instead of a long-term lender. Right now you can borrow for 30 years at around 4.3%. After the mortgage tax deduction, for some people the net effective interest rate is nearer to 3%. That’s going to prove an awesome deal if we see inflation again."

And Forbes said:
"As this is the best time in 50 years to buy homes, Paulson advised his listeners to take 30 year mortgages to buy a home as "your debt and interest payments get locked in at record lows, while the price of your home will rise."

Are others also saying now is the time to buy?
Just last week, we posted that there is a growing number of people saying that NOW is the time to buy, including:

The Wall Street Journal

Professor Karl Case, founder of the Case Shiller House Pricing Index

The wealthiest families in the country and

70% of everyone else in America

Bottom Line
Thinking of buying a home? Are you taking advice from a friend or family member telling you that now is not the time? It may be time to listen to people who better understand the opportunities that exist in real estate today.

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Monday, September 27, 2010

Home Hunting with a Creative Mind!

I'm a blog-o-holic - I follow several real estate and home decorating blogs like a sports fanatic follows ESPN. As a Realtor, I love looking at houses, so therefore, I can spend countless hours on the internet looking at houses and browsing for new decorating ideas. I stumbled across two photos on a blog dedicated to decorating, yet it applies to so many buyers that I've worked with that I knew I wanted to share. These two photos are so simple, but they say so much. They are "before and after" photos of a kitchen. Check them out below and see what a dramatic change took place:



Impressive, huh? Any modern makeover is always exciting, but there's something even more exciting... Look carefully at the pictures. Do you notice that there are only 2 major features that are different? Paint and cabinet hardware. They painted the cabinets one color and the wood paneling up top another color for contrast. They also changed out the cabinet hardware and added a pop of color with the shade on the window. The tile backsplash is the same, the appliances are the same, the countertops are the same, so is the sink and the faucet. An updated and modern kitchen for $150 or so. The point I want to make to buyers looking for a home, is to look with an open mind and think of the simple changes that you can make to update a house and make it your home. Need inspiration? I've got 1254 home decorating blogs that I can send you links to! :)

There's also a moral of the story for sellers - can you guess what I'm about to say? You should also think of the small things you can do to update your home and make it more appealing to buyers. The kitchen is one of the most important rooms of a house when it comes to selling. A tranformation like this would be well worth the $150!!

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Serving the Southern Crescent of Metro Atlanta: Henry County, Clayton County, Fayette County, Coweta County, Spalding County, Pike County, Rockdale County, Butts County, etc. McDonough, Stockbridge, Locust Grove, Hampton, Jackson, Conyers, Fayetteville, Brooks, Tyrone, Peachtree City, Senoia, Newnan, Sharpsburg, Griffin, Barnesville, Riverdale, Forest Park, Jonesboro, Rex, Morrow, East Point, Hapeville, etc.

Thursday, September 16, 2010

Incredible Time to Buy in Atlanta & It's Suburbs!

Interest Rates are At a 40 Year Low and You Can Live in Atlanta and its Suburbs for Less than $800 a Month!

Browsing the Yahoo page this morning, I came across an article discussing 10 places you can live for $800 or less that was taken from US News. Here's the clippings I want to share with you.

"While the nation's real estate crash has been a nightmare for homeowners, it has created some outstanding opportunities for would-be buyers. Home prices in 20 major cities dropped 33 percent from the summer of 2006 to the spring of 2009--and in certain markets, the plunge was even steeper. At the same time, the federal government's efforts to revive the housing market have helped drive financing costs to record lows. Thirty-year fixed mortgage rates fell to an average of 4.32 percent for the week ending September 2. That's the lowest level in nearly 40 years of record-keeping. Lower property values and dirt-cheap mortgage rates have combined to restore affordability to many real estate markets that were once wildly overpriced. "Right now, housing is about as affordable as it has been since at least the 1970s," says Patrick Newport, a U.S. economist for IHS Global Insight.

To see how far your real estate dollar will stretch in different places across the country, U.S. News examined housing costs on a monthly payment basis. We started with the National Association of Realtors' median home price data for 159 distinct metropolitan statistical areas as of the second quarter of 2010. After subtracting a 20 percent down payment from a market's median price, we plugged the remaining figure into a mortgage calculator using a 4.32 percent interest rate on a 30-year fixed loan. The exercise produces a monthly payment figure for mortgage principal and interest, which represents the bulk of most property owners' monthly housing costs. (Note that this figure does not include monthly costs for utilities, insurance, or taxes, which can vary a great deal from one place to another. Nor does it reflect the one-time costs associated with a home purchase, such as the down payment and closing costs.) Using this calculation, here is a look at 10 places where you can buy a home for less than $800 a month"

1. Austin, Texas
2. Sarasota, Florida
3. Albuquerque, New Mexico
4. Minneapolis/St. Paul, Missouri
5. Columbus, Ohio
6. Phoenix, Arizona
7. Columbia, South Carolina
8.  Boise, Idaho
9. Pittsburgh, Pennsylvania
10. Atlanta, Georgia: With a young, fast-growing population, Atlanta is an exciting city in the heart of the South. The median home price in the Atlanta area was nearly $123,000 in the second quarter of this year, up slightly from the same period a year earlier. After a 20 percent down payment--or $24,600--monthly payments for mortgage principal and interest on a median-priced Atlanta home come to $488.

One Note I want to make about this article is that they base everything on a 20% downpayment. Don't fret if you can't do that! There are loan products that offer as little as 3.5% down and even some that still offer 100% financing and just $100 down. Even with those little down payments we can find you a home for right around $800 a month. We're closing two very nice homes this month where our buyers are going to be paying around $800-$900 a month. That's cheaper than rent! Call us and we'll explain the process!

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Friday, September 10, 2010

Home Prices Continue to Fall - Put Your House on the Market Now to Obtain the Highest Price! Next Year Will Not be Better!

The next three months will be interesting for home prices.
The impact of the homebuyers’ tax credit is fading from the market and so are the buyers. We must realize that in September, October and November of last year buyers were rushing to buy a home before the expiration of the original tax credit (November 30). There is no such impetus this year.

As evidence, this week’s Mortgage Bankers’ Association Weekly Application Survey showed that mortgage purchase applications were:  well below levels seen prior to the expiration of the homebuyer tax credit, and is almost 40 percent below the level recorded one year ago.

At the same time, the Wall Street Journal reported:  Housing inventories rose in many U.S. cities for the eighth straight month in August in a sign of the continued headwinds facing a soft housing market … Inventories nationally remain at their highest levels since November 2008.

We’re back to the theory of supply and demand. Demand is softening as the supply of homes for sale is escalating.

Bottom Line
There will be tremendous downward pressure on prices throughout the rest of 2010 and going into 2011. You should sell as soon as possible if you are thinking of selling in that time frame. Don't think like some sellers......"Oh, I'll just wait until prices come back up in a year or two." They aren't coming back up that soon!

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Saturday, September 4, 2010

Appraisals Under More Scrutiny!

 Home Appraisals Come Under More Scrutiny!
By: Marcie Geffner of

Homebuyers and sellers who expect an appraisal to sail through to closing without a hitch may be surprised to discover that home appraisals today can be problematic. The reasons for the change are complex, but there's no question that mortgage lenders have started to demand more reviews and do-overs.

Rob Johnson, vice president of lending at San Diego Funding, a mortgage company in San Diego, attributes the increase in home appraisal reviews to lender-specific requirements imposed because of past problems with certain types of home loans. For example, a mortgage lender might demand more scrutiny of an appraisal if the borrower has a marginal credit score or high debt level relative to income or if the property was a foreclosure that was fixed up and flipped by an investor.

Appraisals may lag home prices

Home prices are also a factor. When prices are on the rise, perhaps because buyers have bid more in a multiple-offer situation, appraised values might still be lower. The reverse is also the case.

"Any time you have a market in transition, appraisals aren't going to keep up because the appraisal is based on historical data," Johnson says.

Inadequate "comps" can present problems as well. ("Comps" are recent sales of nearby homes that are similar, or comparable, to the home that's the subject of the appraisal.) The mortgage lender may deem the comps inadequate if the homes were too far away or were sold in such nontraditional circumstances as a short sale or foreclosure or if the sales occurred too long ago. If the comps aren't sufficient, the lender may order a review or second home appraisal to verify that they were chosen correctly.

"If (the appraiser) can't find three comps within that area and has to expand, that is where you start to get appraisal reviews or secondary appraisal requirements to make sure the appraisal was valid or that (the lender) was comfortable," Johnson says.

The term "second appraisal" generally refers to a new, start-from-scratch valuation. An appraisal review could be a "desk review," in which the appraisal gets a second look by an office-bound person, or a "field review," in which the appraisal is subject to another drive-by or in-person inspection of the property. A review is more common than a second appraisal.
New guidelines distance lenders from appraisers

Leslie Sellers, president of the Appraisal Institute in Chicago, says a lender might order a new home appraisal if the first one was based on factual errors or the appraiser wasn't competent in the area.

Some second appraisals, he adds, result from a misunderstanding of the Home Valuation Code of Conduct, guidelines that were meant to prevent undue pressure being placed on appraisers to inflate home valuations, but that may have caused some lenders to cut off communication with appraisers."The banks are thinking they can't even talk to the appraiser," he says.

Sellers can offer comps to appraiser

An appraisal review can cost several hundred dollars while a second appraisal generally involves a second full fee, says Sara Schwarzentraub, owner of Inter-State Appraisal Service in San Diego. These costs usually are paid by the buyer.

"It's commendable that the lenders are being cautious and having stricter criteria to protect themselves, because in the long term that protects everybody, but it does make it more costly," she says.

Home sellers can offer the appraiser information that might affect the appraiser's opinion of the home's value. This information is best handed over before the appraisal is prepared. "If you know of a sale that's similar to your house and it was a foreclosure, short sale, divorce or anything of that nature, make the appraiser aware of that," Sellers says.
Real-estate brokers can help buyers and sellers find comps to offer the appraiser, Johnson says. If the broker believes comps may present a problem, the buyer and seller can plan accordingly. "A good real-estate agent is aware of these issues. Many times, an agent will call us and say, 'I know we are going to have problems with comps on this," he says.

Buyers and sellers also can agree on longer time frames for the home appraisal contingency and closing date. Schwarzentraub says that asking for a 45- or 60-day closing, rather than 30 days, is not unreasonable.

Buyers are entitled by federal law to a copy of any appraisal for which they've paid a fee. Buyers should look over the appraisal and notify the lender of any errors that could have affected the appraiser's opinion of the home's value.

What This Means for Stephens & Stephens and You
For Our Sellers:
 We are always brutally honest with our sellers about values. We pledge to always tell you upfront what we expect your house to sell for and to back it up with comps from the area. This helps avoid any shock when the appraisal comes in. Rebekah and I always tell our sellers that we have to sell the house twice, the first time to the buyer, and the second to the appraiser (meaning we have to make them see the value in the home too). We rarely run into appraisal issues because of this, but every once it awhile it still happens. When it does, we do our best to show the appraiser where we are coming from and provide additional comps or information on the home.

For Our Buyers: Before our buyers place an offer on any home, we'll show you a Comparative Market Analysis (CMA) on the neighborhood or area to show you what homes are selling for. After reviewing it with the buyer, we'll help make a decision about a fair offer price. The comps we review are likely the same comps an appraiser will look at, therefore we already kind of know what the comparisons are going to be. If the comps don't support the seller's asking price, then obviously we advise our buyers to offer less and back it up by showing the comps. We also add protection for our buyers by adding an "Appraisal Contingency" clause, meaning the house must appraise for the contract price or you'll have the right to renegotiate or walk away.

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Friday, August 27, 2010

Absorption Rates for the South Metro Area

Here's a quick outline of what the current absorption rates are for the south metro area at this time. These numbers were pulled from Georgia MLS so we must give the disclaimer that the information is "deemed reliable, but not warranted. Subject to errors, changes and omissions". :)

What's an absorption rate? Absorption rate is a term used in real estate regarding the current inventory level and is a calculation that shows how much time it will take for the current inventory to be "soaked up"/absorbed/sold. The calculation is based on the current trend and rate of sales.

Butts County: 13.1 months
Clayton County: 5.2 months
Coweta County: 10.6 months
Fayette County: 13.2 months
Henry County: 8 months
Rockdale County: 9.6 months
Spalding County: 11.7 months

Here's a quick guideline to using the absorption rates in regards to the current real estate market:

  • 1-4 months inventory means that we're in a sellers' market and we can expect appreciation.
  • 5-6 months inventory means that we're in a stable market with prices following inflation
  • 7+ months inventory means that it is a buyers' market and we can expect depreciation.

You probably didn't have to read this blog to have known that we're in a buyer's market and are experiencing depreciation (to an uncomfortable extreme!). You may have noticed that Clayton County is reflecting an absorption rate of 5.2 which would imply that there is a stable market in Clayton County. If you're a Clayton County resident, don't start jumping for joy just yet. When we look at these absorption rates, they're almost like an average. To get an even better picture, you can break it down further into price ranges and then look at the absorption rate for each price range. So for example, in Clayton County the "average" absorption rate is currently 5.2 months. For homes priced under $100k, the rate is 4.1 months. On the flip side, for homes priced $125k-150k, the rate is 10.2. Because a high majority of homes being sold in Clayton County are homes priced below $100k, it messes with the absorption rate a little bit and could trick people into thinking the market was improving in Clayton County. We're praying to see that day soon! From time to time, we'll start posting the absorption rates and comparing them as well so that everyone can stay on top of the inventory levels and have an idea as to where the market is heading! If you would like more specific information on the absorption rate for your area (specific city, price range, etc) please call or email us and we'll be happy to send you some information.

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Wednesday, August 25, 2010

Landscaping = Increased Resale Value

Photo Credit: Kenny Lawn Service

I was recently flipping through the most recent issue of Better Homes and Garden magazine when I came across a little blurb ... "14% - that's how much good landscaping can increase the resale value of a home. Improving curb appeal may speed up the sale by as much as six weeks". Source: Associated Landscape Contractors of America

Preparing your home for the market means more than touching up paint, cutting the lawn, and keeping the beds made. Create a game plan prior to putting the home on the market and include some landscaping! In the photo above, they painted the exterior of the home, added black shutters and did some great landscaping. What a difference! It went from "ran down shack" to "adorable cottage." Do you think that will increase the number of showings, offers and the sales price too? You bet! If you're not able to take on a full landscaping renovation, put down some fresh pinestraw/mulch in the front beds, trim bushes, plant a few flowers, etc. A little goes a long way!

Photo Credit: Professional Ground Covers, Inc.

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If you're looking to sell your home in one of the following areas, contact us and we'll be happy to assist you with preparing your home for the market! Let us help you with all of your real estate needs! McDonough, GA Hampton, GA Stockbridge, GA Locust Grove, GA Peachtree City, GA Fayetteville, GA Jonesboro, GA Conyers, GA Newnan, GA Jackson, GA

Tuesday, August 10, 2010

Attention Home Sellers! Don't Overprice in this Market!

It's easy to want top dollar for your home, especially in this market when most sellers are losing money due to the decline in the market in our area (South Metro Atlanta).

We all know that prices have dropped dramatically in last year. Given that, you may think it's logical to set the asking price higher than "fair market value" in order to give yourself some negotiation room or in hopes of not losing money. Unfortunately, you probably won't realize it's too high until much later.

Here are just a few of the disappointments you'll be facing with an overpriced house:

1. Responses to your ads will probably be slow, since the public recognizes overpricing. Remember, people buy by comparison.

2. Some prospects who are attracted may be the wrong ones. They will be attracted because they're looking for a home priced the same as yours – but with MORE features. If you are priced like the one down the street with the stainless steel appliances, granite counters, hardwood floors, jetted tub, and other upgraded features, they'll expect your home to have them too! Don't disappoint them! It's a big turn off right when they open the door and realize you don't have them.

3. Very few buyers will even make an offer on an overpriced home. The reason? Even if you accept their lower offer, they aren't getting a bargain since the final price is probably no less than "fair market value."

4. Your home will help buyers make a favorable decision on other homes that are priced fairly. Do you really want to be the example that drives people elsewhere?

5. If you do find a buyer at your price, their mortgage application could be rejected because of a low appraisal; the house simply doesn't meet the standards that the price indicates. Rebekah and I always tell our sellers that "we have to sell their house twice" - once to the buyer and second to the appraiser. An appraiser has to see the value in the contract price or it simply won't appraise.

This all sounds rather bleak, so what can you do to solve the pricing issue? Work with an experienced professional who knows the market, like us! Take advantage of the research and advice we can offer, and you'll be on your way to setting the right price for your home.

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Monday, August 9, 2010

Awesome Decorating Idea!

We're a big fan of blogs, especially really cool blogs (like ours!). I recently came across a really neat decorating idea on a blog that I thought would be very fitting for our clients - framed keys!

What do you do with all of your old keys from places that you've previously lived? The correct answer would be throw them away or give them to the new owner since you don't need them anymore... creeper. (If you've recently bought a home, we can't say it enough... change the locks, change the locks, change the locks!) But if you happen to stumble across some old keys, here's a quick and easy project that we think is just darling. All you need is a shadow box, keys, glue and a pen! Write the addresses of the places that you've previously lived under each key. How simple and cute is that?! If you don't have any of your old house keys, lets be honest, who would really know if it's the right key or not? Of course, it would be more sentimental if it was, but if not, use random keys that you don't need anymore.

For more awesome ideas and to see the blog that we found this on,  click here

"Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful." -Albert Schweitzer

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Thursday, July 29, 2010

Home Inspections & Rachael Ray's Mold Issue

I would be lying if I said I don't keep up with celebrity gossip. I subscribe to US Weekly so it's certainly no secret. This blog is in no shape, form, or fashion meant for celebrity gossip, but I when I read this, I knew I wanted to share... the famous Food Network chef cook, Rachael Ray, and her attorney husband are suing the home inspection team that inspected their Long Island, NY property when they purchased it in 2007 for $2.9 million due to a mold & water damage problem that they believe the inspectors were negligent in finding and documenting. Yikes!

Moral of the story: Home inspections are extremely important! Don't just jump online and hire the first home inspector that pops up on Google. Do some homework and look for an inspector that has a great deal of experience, certifications, professional affliations, etc. If you need recommendations, we'll be happy to provide a few. Ask potential inspectors to see a sample report. If possible, attend the home inspection so that you can see your future home through the eyes of a professional. Although you'll be given a written report, it will be helpful to see any issues in person while the inspector is there to explain and you'll have an opportunity to ask questions. Most importantly, don't have a friend or relative do the inspection no matter how "good" they are at "things like that." Not having to pay for an inspection (approx. $275-350) seems like a good idea, but that could cost you thousands in the long run.

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If you need a home inspector recommendation for properties in any of the following cities, please let us know! McDonough, GA, Hampton, GA, Stockbridge, GA, Locust Grove, GA, Jonesboro, GA, Morrow, GA, Forest Park, GA, Fayetteville, GA, Peachtree City, GA, Tyrone, GA, Newnan, GA, Jackson, GA, Conyers, GA, Riverdale, GA, Griffin, GA, etc.

Wednesday, July 21, 2010

Many See a Future in Real Estate!

"Many See a Future in Real Estate"......that's the title of the John Adams article in the Sunday "Homefinder" section of the AJC. In the article John describes a recent meeting he attended with members of the nonprofit Georgia Real Estate Investors Association. This group believes there's money to be made in real estate and they are taking advantage of the depressed prices in the Metro Atlanta Area. We think there's money in it too!

He states that most of the people in attendance were not real estate agents and brokers, or savvy investors, but rather "regular" people who work 9-5 jobs and invest in real estate in the evenings and on weekends...."there were doctors and lawyers, plumbers and painters." We at Stephens and Stephens believe that REAL ESTATE INVESTING IS FOR EVERYONE...well almost everyone.

The below is an excerpt from the article explaining one example of an investment tactic.

"Relatively new homes in nice starter neighborhoods can be had for as little as $40,000. After a total renovation costing perhaps $25,000, the house feels and looks new, and can be rented to a renter-purchaser who hopes to own the home by building good credit. The investor refinances based on the new appraised value, maybe around $100,000 and collects rent with a positive cash flow every month. In a year or two, the renter may buy the house, finalizing a profitable transaction for the investor and helping stabilize the neighborhood through renovation."

Gary Keller, who wrote The Millionaire Investor said it best when he said "Anyone can do it, but not everyone will."

We've worked dozens of investment deals. We can help you understand how investing may be a great money-maker for you. There's plenty of deals, great pricing, and an abundance of available real estate in the Clayton County, Henry County, Fayette County, and other Metro Atlanta areas. Please don't hesitate to call or email so we can make money for you!

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Friday, July 9, 2010


Please notice that the Metro Atlanta area (Clayton County, Henry County, Fayette County, and so on) is not expecting a "recovery" until somewhere between 2015-2025 according to some very reliable economists and resources.

This means that waiting to sell IS NOT THE RIGHT ANSWER, unless you have many many years to wait. If you don't have that kind of time to wait then please don't listen to people who say, "just wait a year or two until prices come back." In a few years prices may be even lower! 

The fact of the matter is we're expecting continued depreciation of approximately 7% as an overall average for Georgia and even more depreciation in areas that are hard hit with foreclosures (hint hint hint hint.....that's us in South Metro Atlanta - Clayton County, Henry County, Fayette County, etc).

If you are considering selling, now many be the much as it hurts! Call us for a free market analysis. There's no pressure. We're here to help!

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Tuesday, July 6, 2010

1st Quarter vs. 2nd Quarter Comparisons: Clayton County, Henry County, Fayette County

2010 1st Quarter vs. 2nd Quarter Real Estate Statistics
for Clayton County, Henry County & Fayette County

These statistics are pulled from the Georgia MLS and are subject to changes, errors and omissions.

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Friday, July 2, 2010

4th of July Events in McDonough, Peachtree City, Newnan, Hampton

 Happy 4th of July!
Things to do in Henry County, Fayette County, Coweta County, etc.

Happy 4th of July! We're so thankful for our freedom & appreciate all of our military who continue to make it possible! As you enjoy all of the normal 4th of July festivities, remember our troops! If you're looking for some fun things to do this weekend, here are some ideas:

Georgia Independence Day Festival at Nash Farm
4361 Jonesboro Road, Hampton, GA
July 3rd & 4th from 3pm to Dark, $5 Admission (ages 6+)
Scenes of the Revolution, live music & dancing, living history, kids zone,
festival foods, shopping, pony rides, face painting, rock wall & much more!

Starlight & Fireworks at Panola Mountain State Park
2600 Highway 155, Stockbridge, GA
July 3rd at 7:30pm
Listen to whippoorwills & owls as fireworks shower Atlanta's skyline.
Bring your own flashlights, refreshments & comfortable clothing!

4th of July Parade in Peachtree City
Peachtree City, July 3rd at 9:00am
Peacthree Parkway South in front of Village on the Green Subdivision
and proceeds north to McIntosh Trail, ending at Huddleston Elementary

Ice Cream Social on The McDonough Square
July 4th on the Square, McDonough
Patriotic Entertainment and Free Ice Cream

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