Relevant Real Estate Issues

This new listing in Duluth Ga is located in the Duluth High School district and districted for the new Coleman (STEAM) Middle School.  It is conveniently located within walking distant of Chattahoochee Elementary School.  Duluth is well-known for its parks, famous Fall festival, and the newly developing downtown district with new restaurants, shops, the popular fountain, and regularly scheduled events such as concerts and movies.

Located on a level lot in The Village at Albion Farm, this easy to maintain home is in a very desirable location convenient to Peachtree Industrial, Buford Highway, Sugarloaf Parkway, and Duluth Highway 120.  Approximately 1.5 miles north on Peachtree Industrial is the newly developed Sugarloaf Market with Sprouts Farmers

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Getting Ahead Of Low Inventory

A couple of months ago in order to get ahead of the foreclosure market we decided that we were going to look for homes that were currently in foreclosure, and attend the foreclosure sale in Gwinnett County.  We hoped we could purchase a home at the auction and get ahead of the game. We spent the entire month looking at close to a hundred foreclosures in Gwinnett County, and ended up purchasing one at the foreclosure sale.

The home was actually occupied by a homeowner who lived there for quite some time, and had experienced some financial difficulties over the years. As a result he fell behind on his payments and also fell behind on maintenance that needed to be done. 

Gaining Possession of an Occupied Auction

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Interactive Real Estate Stats for Atlanta Counties

Each month you will be able to check how the market is doing in your county.   The interactive statistics will provide insight into Average Sales prices, Number of Closed Sales year over year, percentage of Sales Price to List Prices, Average Days on Market, as well as the year over year numbers for distressed properties in your area.

Average Sales Price
This statistic will provide insight into year over year changes in Sales Prices. This valuable information will provide insight into whether home prices are increasing or decreasing in your area as well as the percentage of change for each month and year over year.

Number of Closed Sales
This statistic will provide insight into the number of homes

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In today’s real estate market receiving multiple offers on a property is not uncommon.  In fact we recently offered several properties for sale that had seven offers on each the first weekend.  When this happens it is critical that the agent or Broker have a strategy to properly evaluate all offers in order to advise their Seller clients how best to respond.

Offer Instructions

Providing “Offer Instructions” is an effective way to guide and direct agents on what the Seller would want in the offer.  Drafting “Offer Instructions” which can be loaded on to our forms platform provides agents an opportunity to review the “Offer Instructions” prior to submitting an offer.  This helps to influence the transaction from a very early stage, and also serves

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With the continuation of historically low interest rates, and inventory continuing to be low, all buyers at all price points should consider ways in which to distinguish and elevate the quality of their offers.  There are several ways in which to do this.

Make Sure You Are Pre-Approved For a Loan 

Including a Pre-Approval letter a fundamental element of all offers, without it a seller can only wonder if the transaction will provide a predictable outcome.  Additionally, there are different views of what the Pre-Approval letter should reflect.  Some agents prefer that the Pre-Approval letter reflect the offer price, thinking that this might compel a seller to accept the offer due to the fact the buyer can only qualify for the offer price.  This

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With the ongoing challenges presented by the current economy and the new rules associated with the HVCC Guidelines, the strategies used to insure that your interests as a buyer are protected are essential.  One special area of consideration in Georgia is the “Due Diligence Period”.

Prior to the recent decline in real estate values the biggest challenge faced by most buyers was resolving with the sellers any items that came up on the inspections performed.   This was due in part to the fact that loans were readily available for practically any buyer with no money down and very little qualifying. And, to the fact that prices were pushed up due to overly relaxed lending guidelines which encouraged buyers to pay more for homes because they could finance

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I’ve received that question numerous times over the past several years being in the mortgage industry. The question does make sense – as long as income from a job is coming in on a regular basis, why does it matter if someone is self- employed, a W2 employee, or a 1099 contract worker?

Unfortunately, for the self-employed or individuals paid on a commission or bonus structure, it does matter. Why? Due to the up-and-down nature of running a business or income based on monthly/annual performance, underwriters want to see a historical record of income that is earned over the course of up to two years.

Unless you are a W2 employee whose salary will be the same every month regardless of the economy or sales, the only way to document your income is

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Putting the cart before the horse, getting ahead of yourself, whatever you want to call it, going through the mortgage and real estate process in the wrong order can be confusing, frustrating, disappointing, and it could cost you hours of time and hundreds or even thousands of dollars.

Unfortunately, a lot of  times, the order of activities goes something like this: 1. Become interested in purchasing a home; 2. Go online and do some research; 3.  Find a few houses that seem to be a good fit; 4.  Contact a Real Estate agent for more information; 5.  Contact a mortgage provider to get details on available loan programs, interest rates, monthly payment scenarios, etc.  Some extraordinarily out-of-order buyers may even squeeze in an additional step

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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 home owner 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 home owner and listens to them while being nailed to the wall.  Once the home owner 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. 

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As the day of closing approaches keep in mind that all parties have items to address right up to the date of closing.  This includes Buyers and Sellers as well as their agents, the lender, and the closing attorney. 

On The Sellers Side

  • Bring your driver’s license to closing.
  • Any and all title issues must be cleared by the closing attorney.
  • If signing as a Power of Attorney the original document must be present at closing.
  • All agreed upon repairs must be completed, and paid invoices generally provided to the Buyer’s agent.
  • All personal belongings must be removed from the home and yard.
  • The home must be left clean; this includes all appliances, carpets, floors, bathrooms and attics or basements.
  • Utilities must be disconnected
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