General Real Estate

Whether you are planning on buying a house or selling a house, our real estate blog contains valuable real estate information that will assist you in insuring that your goals of buying a house or selling a house are met.

Our blog offers valuable real estate information provided by local real estate professionals to include real estate appraisers, real estate attorneys, real estate brokers and home inspectors.  Each real estate professional offers guidance in buying a foreclosure, buying a new home, buying a bank owned property or HUD home, or buying a luxury home, as well as insights into selling a house, handling a short sale or avoiding foreclosure.

Learn what to look for when selecting a realtor, or real estate broker, what to consider on a home inspection, or what involved in a real estate closing, or the steps in qualifying for a loan. Each week valuable real estate information is posted here to assist you in buying or selling a home.

Found 91 blog entries about General Real Estate.

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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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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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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FILING FOR HOMESTEAD EXEMPTION IN 2019

Homeowners may need to provide their Warranty Deed book and page, proof of residence, social security numbers, driver’s license and car tag info. In most counties, to be eligible for the current year, you must have owned and occupied the property as of January 1st.  If the property is located within city limits, the homeowner may be required to file with the city as well. 

Gwinnett County – deadline is April 1, 2019            770-822-8800 http://gwinnetttaxcommissioner.manatron.com/Tabs/Property/HomesteadExemption.aspx

Fulton County – deadline is April 1, 2019                 404-612-6440 http://www.qpublic.net/ga/fulton/basic_homestead.html

DeKalb County – deadline is April 1, 2019             

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Agent’s Fall into Two Groups

Many agents that get into the real estate business have little or no experience.  Their lack of experience will allow you to overprice a home.  I recently had a call from a friend who had a house in the Decatur area.  The home was listed for $469,000; my analysis suggested that it should be listed for $372,000.  It was listed for $100,000 over what it should have been. The process included routinely decreasing the price.

When you meet an agent that has years in the business, the agent will not allow for a home to be overpriced.  This will ensure that the agent is an advocate for you.

Overpriced Homes will Lead to Fewer Showings

When a home is listed, the buyers have options for searching for homes in

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Once a common practice at closings, buyers today rarely obtain a survey of the property they are purchasing.   Before, if a buyer needed a loan to purchase property, their lender required that a new survey is obtained in order to proceed with the closing.  However, some time ago, title insurance companies created a lenders title insurance policy that protected the lender against any claims that may result from any boundary line dispute or other matter that would be disclosed by a current survey. Since their collateral was already protected by this insurance policy, lenders no longer required buyers to obtain a survey. 

Thereafter, title insurance companies created a new owners title insurance policy that offered “some” protection to the buyer for

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