Friday, May 27, 2011

Hire a Professional to Sell Your Home!

Why You Need a True Professional to Sell Your Home

by The KCM Crew on May 27, 2011
Many people ask us whether they should hire an agent to sell their home or whether they should first try as a For Sale by Owner (FSBO). In today’s volatile market, we believe this is an easy decision: you need an experienced professional!

You need an expert guide if you are traveling a dangerous path

The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a buyer willing to pay fair market value for your home at a time that there are mass inventories of foreclosures and short sales will take a true real estate professional. Finding reasonable financing can also be tricky in today’s lending environment.

You need a skilled negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible re-negotiation of that off after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family? If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer or seller in your deal.

Bottom Line

We believe that famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money…not cost you money.

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Tuesday, May 24, 2011

Atlanta Makes Top 10 for Most Searched Markets & Most Foreclosures!

Inman News and have released the top 10 most searched real estate markets and Atlanta is one of them! Perhaps buyers are looking to take advantage of the great deals that are out there. Those looking to sell won't be thrilled to hear that Atlanta, after Detroit, has experienced the largest decline in prices when comparing year-over-year, with an average decline of 13.6% (Detroit's year-to-year decline was 18.2%).  The complete list is as follows:

1. Chicago
2. Detroit
3. Las Vegas
4. Phoenix-Mesa
5. Los Angeles - Long Beach
6. Tampa - Saint Petersburg - Clearwater
7. Philadelphia
8. Atlanta
9. Dallas
10. Orlando

Sadly, in regards to foreclosure rates, Atlanta takes third place for foreclosure filings amongst the list. Nationwide, 1 in 191 housing units received a foreclosure filing last quarter; whereas, 1 in 78 received a foreclosure filing in Atlanta (1st was Las Vegas with 1 in 31 units and 2nd was Phoenix-Mesa with 1 in 48).

With low prices and low interest rates, now is definitely the time to buy!! If you know of anyone who is looking to purchase in McDonough, Locust Grove, Stockbridge, Hampton, Fayetteville, Peachtree City, Tyrone, Senoia, Newnan, Conyers, Jackson, etc, please let us know -- we would love to help them with their real estate needs!!

For the complete article, visit:

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Friday, May 20, 2011

Wells Fargo Short Sale -- Mission Complete!!!

We recently closed a Wells Fargo short sale in Fayetteville, GA! In this market, short sales make up a great deal of the inventory and we're not afraid of them (unless it's a Bank of America short sale, but that's another post for another day!). There's nothing more rewarding than helping good people out of a bad situation that they had no control over! There's no sense in just letting your house go into foreclosure without trying a short sale first! If you're behind on payments and face foreclosure, please call us! We've successfully closed multiple short sale transactions and would love to help you!

We're so passionate about short sales that we go above and beyond to help our clients out of their situation. In fact, our most recent short sale was initially denied by HUD and so therefore, Wells Fargo declined the short sale. Most agents would have stopped there -- what more could be done? Melissa and I were not happy with that answer so we started researching contacts at the U.S. Department of Housing & Urban Development and came across the name and number of a gentleman that is a "Housing Program Specialist" with HUD. We contacted him, explained the situation and the circumstances and he did his magic. Within a day we received an email that he had reversed the decision and had the file reopened at Wells Fargo. A couple of weeks later, we closed this transaction. What would have happened if we wouldn't have cared enough to be persistent and get this done? Our clients' home would have gone into foreclosure, their credit would be damaged more so than with the short sale, and they would have been devastated. Our clients even received a $1000 check for their participation in the short sale versus letting it go into foreclosure! See, it pays to take action!

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Monday, May 16, 2011


In declining for the fourth straight week, mortgage rates reached their lowest levels of 2011.

The 30-year fixed-rate mortgage, a popular choice among home buyers, averaged 4.63 percent this week, reports Freddie Mac in its weekly mortgage market survey. Last week, the 30-year mortgage stood at 4.71 percent; compared to last year at this time, it averaged 4.93 percent.
Meanwhile, the 15-year fixed-rate mortgage also reached its lowest level of the year, averaging 3.82 percent this week from 3.89 percent last week. Last year at this time, the 15-year mortgage averaged 4.30 percent.

The 5-year adjustable-rate mortgage averaged 3.41 percent, down from last week’s 3.47 percent average. A year ago, it averaged 3.95 percent.

As rates continue to fall, the number of mortgage applications are increasing. Mortgage applications increased 8.2 percent this week compared to one week earlier, reports the Mortgage Bankers Association. The refinancing index increased 9 percent--it’s highest level since mid-March. Mortgage applications for purchase also got a boost, rising 7.1 percent compared to the previous week.

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Wednesday, May 11, 2011

5 Reasons You Should Consider Selling Now!

If you plan on moving anytime in 2011, you should strongly consider selling your house now rather than waiting. Here are five reasons why:
1.) This is when your house will get the most exposure
The spring, and particularly the month of May, is when most buyers enter the real estate market. This surge of buyers dramatically increases the exposure for your house . The best chance of getting quality offers (perhaps even multiple offers) is RIGHT NOW!

2.) Foreclosures and short sales will increase in about 90 days
The good news is that the number of people paying their mortgage on time is increasing. This will lead to less distressed property sales later this year and throughout 2012. The not-so-good news is that there is still a large inventory of existing foreclosures and short sales that will still be coming to market.

As an example, LPS reported in their latest Mortgage Monitor that:

■ There are still twice as many loans going 90+ days delinquent as are starting foreclosure

■ There are almost three times the number of foreclosure starts as there are foreclosure sales

■ Distressed property inventory levels are almost 45 times the rate of monthly foreclosure sales

This means that there is a backlog of properties which will start coming to the market in about 90 days as banks clear up their paperwork challenges. These properties sell at dramatic discounts. They will be your competition. Both Fannie Mae and Freddie Mac have recently discussed the magnitude of this challenge.

3.) Interest rates have risen over the last six months

Interest rates have stabilized recently. However, in the last six months, interest rates have climbed over 1/2%. Every time the rates increase 1/4%, approximately 250,000 buyers are eliminated from qualifying for a mortgage. In an environment of volatile rates, waiting could mean that there will be fewer buyers eligible to purchase your house. It also could mean that you will pay a higher rate on the next home you buy.

4.) Qualifying for a mortgage is about to get even more difficult

Besides increasing rates, there are other factors that will hinder a buyer’s ability to qualify for a mortgage as we move forward. Lending standards have been getting tighter over the last year. And as the government debates the new proposed guidelines (QRM), banks are gearing up for even more stringent standards.

Morgan Stanley recently stated:

“Recent developments in issues such as GSE reform, Dodd-Frank securitization rules, and foreclosure settlement issues suggest a tighter and more expensive environment for mortgage credit.”

This may impact any potential purchaser for your property and may also impact your next purchase.

5.) It’s time to get on with your life

Probably the most important reason to sell is so you can get on with your life. You placed your home on the market for a reason. Do not allow a less-than-stellar housing market prevent you from reaching your goals as an individual or as a family. Think about the reasons you decided to move in the first place. Are these reasons still important to you? If you have to take less than you were originally hoping to get for your house, your family has a question to ask each other: Is the dollar difference in sales price worth putting off our plans? Only you and your family know the answer to that question.

Bottom Line

If you plan to sell this year, the reasons above prove that selling now makes more sense than waiting to later in the year. We would love to sit down and talk with you. No obligations!

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Blog from KCM blog - Steve Harney

Wednesday, May 4, 2011

Almost 14,000 Homes Sold Yesterday!

One of the biggest misconceptions in today's housing market is that homes are not selling.

That is simply not true.

 Last month's Existing Sales Report from the National Association of Realtors (NAR) showed that homes were selling at an "annual rate of 5.10 million". That's an average of 13,973 every day – 365 days a year!

And the monthly Pending Sales Report, which measures the number of houses going into contract each month, has showed increases in six of the last nine months prompting Lawrence Yun, NAR's chief economist to say:
"Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own. The index means modest near-term gains in existing-home sales are likely."

We realize that 40% of the sales are distressed properties and that 22% of buyers are investors. Yet, that still doesn't negate the fact that homes are in fact selling... and 60% of them are NOT foreclosures or short sales.

And Yun believes this uptick will continue:
"Based on the current uptrend with very favorable affordability conditions, rising apartment rents and ongoing job creation, existing-home sales should rise around 5 to 10 percent this year."

Bottom Line

Homes are selling. You probably will need to offer a compelling price if you put your house on the market. But if you do, it will sell....and we know someone who can get the job done....US!

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