Relevant Real Estate Issues

Avalon Real Estate

Avalon is an exciting community in the heart of Alpharetta filled with luxury homes, villas, and townhomes. Within a short walk is access to upscale shopping, fine dining, Avalon Hotel, Regal theaters, entertainment and events.  Concierge services are available to residents.

Welcome to the “Alpharetta Homes for Sale” section of our site.  Here you will find homes for sale in Alpharetta presorted by subdivision and price.  This will make your search for a home in Alpharetta or in Avalon Subdivision faster and easier.

The search criteria in the “Alpharetta Homes for Sale” section of our site will display all homes for sale for each presorted subdivision in Alpharetta. By clicking on the subdivision link all homes for

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NO TAX RETURN INCOME? 

HERE’S A LOAN BASED ON BANK STATEMENT DEPOSITS…

If you have been self-employed for a minimum of 2 years, and you maximize your tax deductions to minimize your tax liability but have excellent cash flow, it is now possible to document your income by adding up the deposits on your 24 most recent bank statements. The total deposits will replace the income reporting on your tax returns for qualifying.   Taking this different perspective can make the difference to get you to qualify for your home loan.

Below are the features of our Bank Statement Loan Program:

  •   Can use Business or Personal Bank Statements

  •   All owners of bank accounts used must be on loan

  •   100% of deposits can be used

  •  

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Construction Loans ~ Which are best?

There are two types of construction loans used by homeowners;
1. One-time-close loans
2. Two-time-close loans

With all construction loans, money is disbursed by the lender based on a pre-established construction draw schedule. The goal is to only pay for what has been completed, minus retainage, typically 10% of the cost of the project, which is held back until everything is completed properly and the owner has issued a certificate of occupancy (CO).

One-Time-Close Construction Loans...

This loan has one approval process, and one closing, simplifying the process and reducing the closing costs. Typically, the borrower can choose from the portfolio of mortgages offered by the lender such as 30-year-fixed, or

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When it comes to showing your home, there are things that can be done before and after the showing that will increase the attraction of prospective buyers, and provide valuable insights into what potential buyers thought of your home.

Follow the Keys To A Successful Showing and your home should sell quickly and at a higher price.

Preparation

  • A flyer box will be left in the foyer or other location such as a dining room table, where agents can pick up a flyer of your home and leave their card. 

  • Special feature cards will be placed throughout the home to assist would be buyers in noting and remembering key features of your home.  They will contain QR codes that will allow for a buyer to access your listing online with their mobile

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WHEN QUALIFYING FOR YOUR NEW HOME LOAN…


What is the difference between Fannie Mae and Freddie Mac when you need to use monthly income from assets?

Fannie Mae:

• 1-2 Unit primary residence or second home only. For purchase or rate/term refinance transactions
• Maximum Loan to Value is 80%
• Assets must be employee-related
• When assets have assessed a penalty, the penalty must be included in the calculation and deducted from the asset amount
• Calculating the net amount to use for monthly income form the asset, Minus 30%, if the assets are in the form of stocks, bonds, and mutual funds
• Your calculation is applicable to the term of the loan in months such as 360,180, etc.
• The asset must be liquid and available to the borrower and must be one of the

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Automated Valuation Models (AVM’s) have become prominent on the internet over the past few years.  As an appraiser, I have been asked many times, “Why did the appraisal come in lower (or higher) than these AVM’s?”

To give an answer to this question you must consider where all this information is coming from.  For the most part, these “figures” are derived from tax records and/or Multiple Listing Services (MLS systems) and in some cases, the information used is gleaned from appraisers’ files.  When accessing these services, some AVM’s give options to help narrow down the fields utilized for the calculations.  Most AVM’s include your zip code, the number of bedrooms and the number of bathrooms you may have.  Other AVM’s (the better ones) give you more

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Many agents do not take into consideration the art and science of valuing a home.  Most agents merely punch CMA, which gives them the averages, the highs, and lows.  There are many issues that cause the home to appraise.  We will discuss some of the issues of valuing a home.

This home was listed for $350,000.  And we offered $360,000, which exceed the listing price.  And we won the offer.  My analysis resulted in the price range of $360,000 you $364,000.  The appraisal came in at $362,500.

Appreciation

We also look at appreciation.  We go back to the original date it was sold and apply the appreciation rate.  Based on the condition of the house the appreciation will vary. 

Age of the Home   

One of the rules for appraising property is

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Water related damage causes millions of dollars of damage every year.  Homeowners insurance generally covers household water damage if the damage is sudden and accidental, such as damage caused by burst piping.  But there are steps that homeowners can take to prevent problems and insurance claims.  A water damage claim can be a red flag to insurers as well as future homebuyers.  It is better to take preventive action than face the risks of increased insurance costs and reduced home marketability.  Here are some ideas for you to consider.

1. Use copper tubing or braided stainless steel over rubber for ice maker supply lines,   dishwashers, toilets and faucets.  Plastic tubing can harden over time and crack.   

2. Install braided, no burst hoses on the

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Do you know how you currently hold title to your property?  Do you own it individually or jointly with another person?  If with another person, do you hold title as “joint tenants” or as “tenants in common”?  The difference could affect what happens to your property after you die.  Therefore, it is important to know and understand how you currently hold title to your property or how you want to take the title on your next purchase for estate planning purposes.

In Georgia, when a property is owned by more than one person (husband and wife for example), the title is typically held as either “Joint Tenants with Rights of Survivorship” (Joint Tenants) or as “Tenants in Common”.   The language in the warranty deed from the prior owner to the current owners

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I recently heard a story of one tough contractor.  He was apparently working off of a ladder in the home of a client, installing some framing at or near the wall and ceiling line.  As you might expect he was using his Paslode nailer to secure a 2x10 to the wall and the homeowner walks in.  It was at this split second that the nail left the Paslode gun and prior to entering the 2x10 entered the finger of the contractor; firmly securing his finger to the 2x10 and wall.  But this was one tough guy; he turns to the homeowner and listens to them while being nailed to the wall.  Once the homeowner finished talking the contractor removed his hammer and pulled the nail from the 2x10 and from his finger, and let a scream that could be heard from miles away.  This

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