July 2010

Found 7 blog entries for July 2010.

One of our recent flips was a ranch on a full basement in Alpharetta.  The home had
been lived in for a number of years by the then current owner.  The home needed updating to bring up the value, but it was mostly cosmetic in nature.  We thought it was about time to get one that did not need so much work.  Before & After

old_preston_front_after_1760

On the outside we replaced the roof with an architectural roof, removed the LP siding, replaced it with HARDI Plank, and repainted the exterior.  This made a huge difference in the exterior appearance, and did not represent a huge cost.  We also had to water proof a portion of the front foundation wall.  This required bringing in a back hoe, digging down to the footer, filling cracks in the block wall and then applying water proofing

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The impact of the Tax Rebate has certainly been felt. In the months leading up to the expiration of the tax rebate we saw under contracts and pending sales increase significantly. We also saw the prices for foreclosures, especially in the under $200k price range, gradually increase and in some instances price increased significantly.

Now two months after the contracting deadline to take advantage of the tax rebate the recovery, at least in real estate, seems less than hopeful.

Closings
There were 5,138 closings for all single family units in June which was a decrease of 5.9% from June 2009. It was also our first year to date decline after four consecutive positive months.

There were 4,326 closings in June for all single family detached homes,

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Since our last newsletter in March of this year we have been busy readying our new web site.  This new site incorporates the most popular real estate tools in a user friendly, easily navigable format.  As you explore the site you will find many new features that will make your on line experience more enjoyable and beneficial.

For starters our new site will make searching for a home much easier.  You can now search by Schools, Subdivisions, MLS AREA, Address, Multiple Listing Number, Special Circumstance (such as foreclosures), or Zip Codes.  These new search features will help in narrowing your search; thus providing only those homes that meet your specific criteria.  All other standard feature search tools such as bedrooms and baths are still

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A lot of my clients have been calling lately about their 2nd mortgages and home equity lines of credit. Lenders have been freezing credit lines and reducing high credit limits, decreasing the available credit to homeowners and making a lot of people quite upset in the process.

Just to clear up a common misconception, a home equity line of credit IS a second mortgage, a type of second mortgage. A handful of years ago, lenders realized that the term “2nd mortgage” was much less appealing than “line of credit” so the marketing term for a revolving credit line that is lien’d against a property in 2nd position (the house serves as collateral for the repayment of the debt), is just that, a mortgage in second position (2nd mortgage). This is important in

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Discovering the causes of poor indoor air quality is the first step in creating a healthful home. For years we have cleaned, dusted and vacuumed our houses but what about the part of our homes that we don’t see, yet breathe into our lungs thousands of times every day. Indoor air is a fundamental part of how our homes affect us, but it’s often overlooked and misunderstood.

Americans spend up to 90% of their time indoors. According to the Environmental Protection Agency (EPA), indoor air can actually be more polluted than outdoor air. The consequence of spending so much time indoors and breathing polluted air can be seen in the increase of asthma and chronic respiratory disease among Americans. What makes indoor air quality (IAQ) most difficult to

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One of the greatest errors I have seen buyers make is the lack of investigation into a Homeowners Associations (HOA’s) business. Many people don’t realize that these organizations have a lot of control over them, as homeowners, and their lives in the home they are about to purchase. With just a little investigation it can be determined if the HOA is in good condition, solvent or problems are on the horizon.

When considering a purchase in an HOA run community, the first things to ask for are the Covenants, Conditions and Restrictions or CC&Rs. The CC&Rs spell out what a homeowner can and cannot do with their property, what the HOA and the homeowner are responsible for as far as maintenance to the property and the homes and what restrictions are in

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A contractor or vendor who supplies labor or materials to a new or existing home can file a mechanic’s or materialman’s lien if they are not paid for their services. The vendor must file a claim of lien within 90 days after completing their work or supplying materials to the property. Furthermore, the vendor must file a lawsuit to perfect the lien within 365 days after filing the claim of lien. Otherwise, the claim of lien expires and is void.

To prevent a lien from being filed against your property, a homeowner should insist that every vendor supplying labor or materials to the property sign a lien waiver upon receipt of payment. Moreover, if the homeowner engages a contractor to supervise the work, the contractor should sign an Affidavit of

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