Atlanta and Marietta Georgia Real Estate

Home Prices Move Up Slightly in August, BUt Atlanta Prices Still Dropping

2011-10-25T09:34:00.000-07:00

Home prices continued a fifth straight month of price gains in August, but still remain lower than a year ago.

The S&P/Case Shiller index, a gauge of home prices covering 20 major cities, recently reported that home prices rose 0.2% in August but were still down 3.8% from the 2010 level. Overall, the report shows that the housing market is "treading water." There doesn't seem to be any reason to think that's going to change any time soon.

Among individual metro areas, the Atlanta Georgia metro area recorded the steepest decline, down 2.4% for the month. Prices were off 6.3% from their 2010 level. Minneapolis home prices recorded the worst 12-month drop of 8.5%. Washington D.C. saw the biggest gain; 1.6% in August and 0.3% in the past 12 months. Detroit and Chicago were close behind at 1.4%. In the past 12 months, Detroit prices were up 2.4%over the past 12 months, more than any other area.

The S&P/Case Shiller home price report comes on the heels of changes in the Home Affordable Refinance Program (HARP) announced this week by the Obama administration. Those changes will enable many homeowners to refinance high-interest mortgages more easily, making their monthly payments more affordable, hopefully avoiding some defualts.

Andree Huffine, a Sarasota Luxury Homes Realtor doubts that the new HARP changes will have much impact on luxury home prices or sales. She syas, "Sarasota home prices are about where they were last year or have inched up only slightly."
Likewise, David Blitzer, a spokesman for S&P, said "Even though the year-over-year rates are improving, national home prices are still below where they were a year ago."

Fiserv, which provides real estate financial analytics to the industry, is projecting further home price declines of 3.6% through June, 2012. If their forecast proves to be accurate, it would mean home prices will bottom out over the next nine months, down a whopping 34% from the mid-2006 peak.

Atlanta Downtown Condo Sales Up Slightly Despite Overall Home Price Slips

2011-08-03T09:00:00.000-07:00

Atlanta condo sales improved during the 1st half of 2011 according to the The haddow Report, an Atlanta-based real estate consulting firm. A total of 482 units were closed on or pending as of June 30th. By comparison, 463 units were sold in the 1st half of 2010, and 368 units were sold during the 2nd half, 2010.

The Haddow Report covered 93 active condo projects containing a total of 6,817 units in downtown Atlanta, out to Buckhead and then east to Decatur. In their sample, there were 2,369 units reported as unsold inventory.

Over all, home prices in the metropolitan Atlanta market continue to be depressed at this point even though, traditionally, this is one of the better times to sell a home oe condo in this mnarket. Atlanta home prices fell 6.8% from June, 2010 through June, 2011 according to CoreLogic. State wide, Georgia home prices also were down 6.8% in the period. Mark Fleming, chief economist for CoreLogic, says, "While there is a consistent and sustained seasonal improvement in prices over the last 3 months, prices are still lower than a year ago due to the decline in prices after the expiration of the 2010 tax credit program.

It is hoped that we see a continuation of the slight increase in condo sales volumes in the 1st half continuing for the rest of 2011. That would be a positive sign for the greater Atlanta Georgia real estate market and will help reduce the on-hand inventory so home prices can begin to recover.

Selling A Home in the "Off-Season"

2011-07-21T12:22:00.000-07:00

Not everyone who relocates to the Atlanta, Georgia area decides to buy a home while they are here as “snowbirds” in the months of December through April the appeal of our "Southern Lifestyle" is so obvious or when the kids are out of school and they have the time to be choosey because they’ve got three months before the kids need to be back in school. If you need to sell a home or condominium during the “off-season,” you may need to put a little more effort and creativity into the task of selling your home

Everyone who has ever sold a home has heard the usual advice: Find a good agent, be aware of local home values, remove personal items and de-clutter the home. Touch up the paint, remove old wallpaper and keep the dog out of the way. That is all good advice, but it’s not always enough,” says Bert Stanley, the author of the Florida real estate website. You may need to go a few “extra miles” to achieve success, however if you’re selling a home in the “off-season.”

Keep these five suggestions in mind from the moment you start planning your next move:
1. Get more specific about your home’s value. You probably already know enough to use neighboring home values as comparisons in setting your asking price.. But now, some additional homework can pay off. If you need to sell quickly, stay ahead of the market by pricing yours a bit lower. In the wake of the bursting real estate bubble, it’s also important to have a heightened awareness of foreclosures in your immediate area. Any foreclosures in your immediate neighborhood wil put a dent in your home’s market value.
2. Get Involved: Just because you’re working with a Realtor® doesn’t mean you can’t do some of your own legwork. The first 10 days on the market are the most critical to selling a home because new listings get the most attention from buyers. Internet-based social media sites have opened limitless new strategies to sell your home. Also consider using sites like Craigslist, Facebook, Flickr, Zillow and YouTube. Make sure you’ve agreed with your Realtor to pay his or her commission (or some other mutually agreed-upon amount) if you sell it yourself using one of these venues. Post pictures on these sites that show your home at its best. You can even upload a narrated video tour – because that’s what you’d want to see as a buyer. At some real estate agencies, a video tour is becoming the new requirement for sellers.
3. Accept a helping hand: Take advantage of a wide range of services, beyond your local Realtor’s, that could help you streamline the buying and selling process. Some cost money, such as a home “staging” service that can help you show your home at its best If you are employed or in the military, you may find that your employer or the the military offer services you can use either for free or at discounted rates.
4. Get Creative With Your Terms: Sometimes it takes out-of-the-box ideas to seal a deal You might sweeten the pot by offering to pay some or all of a buyer’s closing costs, for example. In some communities, you may also be able to offer to pay the new owner’s membership initiation fee for the local golf, yacht or athletic club.
5. Remain flexible: According to the experts, buyers and sellers should keep their pride in check and be willing to make concessions, especially in the off season. That means not haggling over minor repairs or refusing to leave behind the chandelier your potential buyer loves. Factor in your thinking the cost of keeping up your home for several more months versus just accepting a lower selling price or letting something go with the home and having the sale done right now.
Even in the most sluggish real estate market, getting ahead of the curve can be the key to a quick sale even in a sluggish or off-season market.

Support this Teenager On a Mission - Saving the Planet

2011-05-17T15:36:00.000-07:00

It's not much of a secret that our planet is messed up. We're facing a long list of problems, and most of them are caused by by one simple thing: the burning of fossil fuels.

The most urgent problem is climate change, caused by our out of control addiction to fossil fuels. When we burn fossil fuels like oil, coal and gas, we emit all this extra carbon dioxide, CO2, into the atmosphere, which messes up the balance of the atmosphere.

We just heard about this Salt Lake City, Utah teenager who is single-handedly trying to do something about this problem. We invite you to visit his website at IMatterMarch.org.

Alec Loorz, the initiator of this site says, "The iMatter March began on May 7. And the movement has only just begun. The generation most affected by climate change is standing up to let the world know that our future matters more than profits and conveniences. Over 150 marches to compel our leaders to LEAD AS IF OUR FUTURE MATTERS are registered on the map in over 35 countries, and the photos and videos streaming in are awesome."

"iMatter is not an Event. This is a movement," Alec says.

By visiting Alec's website, you will learn a lot about the problem and perhaps even be moved to contribute to his cause either by leading or participating in a march or at least sending a few dollars to support his efforts.

Fixed Mortgage Rates Fall. Good News for Builders and Buyers Alike

2011-05-10T06:02:00.000-07:00

Fixed rate mortgage interest rates fell this week to the lowest level this year. The average 30-year rate dropped to 4.71% while the 15-year rate fell to 3.89% according to Freddie Mac

This was the third week in a row of falling mortgage interest rates and it comes right at the beginning of the Spring home buying season.

Atlanta area home builders are hopeful that these lower rates will increase interest in buying a new home her in the troubled Georgia real estate market.

While home prices have fallen and a bulk of builders' inventory of spec homes are still available, there is some good news for Georgia home builders according to AtlantaRealEstateForum.com which reported that "inventories of finished vacant homes fell 36% in Atlanta last year, more than any other region studied. And, from July 2007 to July 2010, Georgia’s population grew 20%, twice as much as any other state. Meanwhile only 8.6% of Georgia’s subprime mortgages are in foreclosure, far below the national average of 13.2%."

AtlantaRealEstateForum.com suggests that these statistics point to a potentially bright future for Atlanta area home builders. With mortgage interest rates down and existing inventories housuing inventories being depleted, if credit can become not quite as tight, Georgia home builders see the potential for a comeback to normalcy.

In addition to the improved outlook for builders, lower 15 and 30-year rates will also help make buying a first home more affordable for young families.

Overall as the weather warms, one ccn see hopeful signs that the Atlanta area housing market mat at long last begin returning to normal

Questions to Ask Your Listing Agent Realtor

2011-04-14T04:51:00.000-07:00

As You prepare to sell your home and are deciding which Listing Agent Realtor to employ, here are several questions you should ask of each such Realtor you speak with before making your choice.

How many years have you been in the business?

What professional designations have you earned?

Do you have any references I can check with before signing up?

How many homes have you sold in this immediate neighborhood?

What is the minimum length of your listing agreement?

What, if anything will you charge me if I decide to drop you during the listing agreement period?

What is your commission rate?

What if I sell the home myself while you have the listing?

What is your ratio of sales price to listed price?

What is the average number of days your listings are on the market before they are sold?

Would you please show me a written copy of your marketing plan?

May I have a copy of your standard listing agreement and what values you fill in at the blanks?

May I have a copy of your standard purchase agreement you use?

At what price would you list my home?

How did you arrive at that sales price?

Does my home need any repairs or changes to make it more attractive to buyers?

What effect, if any, would those changes make in the listing price you'd suggest?

"If your prospective Realtor is a true professional, he or she should have no problem responding to each of these questions in an open and honest way," says
Bob Henley, a noted Sarasota real estate professional with many years of experience as a Listing Agent Realtor.

2011 Real Estate Outlook

2011-03-25T05:10:00.001-07:00

The following 2011 outlook for the real estate industry includes a lot of information we found in an article by Lisa Udy, an Ogden Utah real estate professional providing services for both home buyers and sellers of Ogden Utah homes. We have added our own thoughts to her article and hope you find it interesting reading and informative.

While many real estate experts seem to be hopeful, the outlook for real estate in 2011 is not all that favorable in most real estate markets across the United States.

Sales of new homes in February plunged to their slowest pace on record according to the Commerce Department. Sales of existing single-family homes were equally dismal in February with volume down 3% from February of 2010. according to the National Association of Realtors.

Jobs are the key to a housing market recovery. Without a lot more job creation, homeowners will continue to face foreclosures and/or won't qualify to buy a new or existing home. With existing home inventories still high, housing in 2011 will not recover unless consumers have not only jobs, but also the confidence to buy up that excess inventory of homes already on the market.

Here are some observations on the real estate outlook for 2011 and beyond

Interest Rates Will Remain Low: With a fragile economy, the Fed is expected to keep interest rates low for at least the rest of 2011. Low interest rates make homes more affordable and that, in itself, will be a source of some pent-up demand. If, however, rates are driven up by inflation or as a result of the Fed pumping so much money into the system, the nacent housing recovery we are just beginning to see a glimmer of in some markets will come to a halt.

But, There Will Still Be Fewer Buyers: There are too many people without jobs. Worse, lending standards are much more stringent. The pool of potential home buyers is dramatically smaller than just a few years ago and until that changes, a housing recovery cannot and will not happen. The job outlook is a bit more positive for 2011 than it was in 2010, but we still have a ways to go.

Atlanta area Realtors don't expect any genuine stability in their housing market until the economic situation settles down. "Folks worried about their jobs don't buy homes" says Hank Miller an Atlanta area Broker and Appraiser. "The issue of distressed homeowners also needs to be resolved; the banks have little desire to do much but foreclose," he adds.

Congress Is Doing Nothing to Help: It would certainly help if Congress would stop the in-fighting and point-scoring and address the critical need to create jobs. Both parties ran on platforms claiming that their primary objective would be job creation. You'd never know that based upon the actions they've taken (or not taken) so far.

McMansions Are Out: With the exception of the most affluent areas, this has been a clear trend for the past couple of years and it will continue. Home buyers are no longer interested in huge homes. Everyone seems to be downsizing the size of their home to save money on maintenace, utilities and property taxes.

Senior buyers are looking for smaller, more open floorplans and leaning toward homeowner association communities where much of the exterior maintenance is done by the association. Young, frst time buyers, those few who can qualify for a mortgage at this point, are looking for smaller homes in walkable, affordable neighborhoods with outstanding schools.

Bob Henley, a prominent Southwestern Sarasota Florida real estate expert says, "if you are currently trying to sell your much larger than average home, you are facing a real estate market that is not favorable to you. A profitable sale or even a break-even sale in the near future is unlikely due to this downsizing trend.

"Flipping" Homes is also Out The speculators have been driven out of the housing market. There are no longer opportunities to buy a home and then resell it within a year or two and capture a nice profit. Those days are gone -- "good riddance," say the authors of the Real Estate of Florida website and blog.

Today's home buyers are thinking more long-term with their home purchases and this trend will continue. Home buyers today realize that that tactic is just not viable anymore. Home buyers will be more cautious and look into longer term home ownership. They will be buying a home to live in for 10 years or more, not a buy it, upgrade it, and sell it within a year or two. This trend will cause buyers to be more thoughtful about the homes they purchase thinking how this home will fit into their needs and plans over the next 10 or 20 years or more.

Prices In Many Areas Will Continue Falling:The bottom of the real estate market in many areas is still yet to come although the Atlanta - Marietta area may be showing a few signs of life and stability compared to some other hard-hit areas.

There Are Still Lots of Foreclosure Properties: Many banks have stopped the practice of processing foreclosures with incomplete paper trails so there are homes still waiting to be foreclosed upon so banks can move them off the books. Once the paperwork process is fixed, banks will start foreclosing again, although at a slower pace to make sure they're doing it correctly. The Federal Reserve estimates that there are 2.5 million homes expected to foreclose in 2011, about the same as in 2010, with another 2.0 million in 2012. As long as banks foreclose gradually, home prices in 2011 should continue stabilizing but ever so slowly.

New Home Construction Will Struggle: With few jobs and low consumer confidence, the home building industry will continue to struggle in 2011. With the increasing cost of the materials used to build a home and buyers just not confident that they'll even have a job by the time a home could be built, the home building industry will stay as depressed.

Opportunities Are Out There For Cash Buyers: As in 2010, cash buyers and investors will continue to have the upper hand over buyers making offers with financing contingencies. A smart private seller, and certainly the banks selling foreclosed properties, will accept a lower price if the contract has no financing contingency and even a lower price if there is no inspection contingency. Banks are looking for quick sales to cash buyers who can close quickly. If you're a home buyer competing against cash buyers in 2011, be sure to make your offer as attractive as possible.

If you need a home in Georgia now because you have relocated, there are certainly bargains available, but understand that while short-sales and foreclosures seem attractive, you are bidding against cash buyers and investors so your offer will have to be strong. You also need to know that closing on a short sale can take months, not weeks. If you are a first-time buyer, you need to be cautious because prices could easily fall a bit further before they start going up again.

According to Brian Ward, a well-known Sarasota Florida real estate professional, if you are trying to sell a home right now, you need to listen carefully to what your Realtor says about the price of comparable houses today. It doesn't matter that someone down the street sold an equivalent home for $50,000 more than the Realtor says you can get now. You, unfortunately are selling today, not 12 months ago. if you can't take the price drop, hang on to the home for a couple years. Things will definitely get better but to us, it doesn't look like that is going to happen any time soon.

Homeowners Insurance Info for First-Time Home Buyers

2011-03-22T10:48:00.000-07:00

As you begin looking for your first home, you need to learn a lot of stuff. One of those things you really need to know about is "homeowners insurance." You need to understand what it is and what it costs and be prepared when the time comes.

When you go to the closing on your first home, the mortgage provider you've selected for your mortgage is going to insist that you have a home insurance policy in force on your new home on or prior to closing day. So, you might as well know what is involved up-front.

Here are some of the major things you should know about homeowners insurance policies.

Getting a homeowners insurance policy that meets your needs and your affordability is harder today than it was just a few years ago, mostly because of the recent recession and housing bust here in Georgia. You may have to shop around to get the kind of coverage you want at the best price. You should definitely get multiple quotes to compare the cost from various providers. Your Realtor and/or your mortgage provider may be able to point you to various insurers who offer coverage in your area.

A couple of definitions:

The Homeowners insurance "premium" is the amount you pay for coverage.
The "deductible" is what you will pay of your pocket in the event of a claim, before the insurance company will pay anything.

Insurance premiums and deductibles are closely related. You can usually reduce your premium fairly substantially by raising your deductible amount. The Insurance Information Institute says “If you can afford to raise your deductible to $1,000, you may save as much as 25% on your premiums.” Remember, however, that if you choose a higher deductible, you need to be sure you can afford to pay that amount as your own share of the expenses for any required repairs.

Most standard homeowners insurance policies do not cover flood damage. So if you live in an area that’s prone to flooding, you should get a separate policy (or a "rider") for flood insurance. You may also want to ask your Realtor either not to shoew you homes in "flood plains" at all or to, at least, inform you when a home you are looking at requires flood insurance as a condition for your getting a mortgage.

When choosing a policy, you can also generally choose between replacement cost and actual cash value.

Replacement Cost coverage gives you more protection than cash value, because it covers the cost of replacing items even if they cost more than when you bought them
Actual Cash Value (often abbreviated to ACV) only covers items up to the amount you paid for them or their value as of the time of the claim.

Obviously, replacement cost policies cost more than actual cash value policies but if you can afford it, a replacement cost policy may be your best choice. After all, there is little sense in having a policy that will not cover the full cost of actually repairing or replacing the damage minus just your deductible.

If you own a pet, especially a big dog or a dog of certain breeds, you need to inform your prospective insurer of that fact when asking for a quote. Some companies charge higher rates, exclude any damage caused by the dog, or refuse to offer insurance to oweners of certain types of dogs. Do not think of forgetting to mention the pet when applying for coverage. If and when you have a claim, the company may rfuse to pay it because you falsified your application. I'm sure you love your pet. Just be honest about it and accept that some insurers are more strict than others about this topic.

Finally bear in mind that your home may burn down or be damaged but the land it sits on will normally be spared. So, ask your Realtor to tell you about what lots sell for in the neighborhood you're buying a home in and deduct that amount from the price you are paying for the home you are buying. Be sure also to tell your prospective insurer what value you have put on the land to make sure he or she agrees that that is a reasonable value to deduct from the purchase price in sizing the coverage you buy.

You can get quotes for homeowner's insurance policies on the Internet which will save you time and energy. This is a great way to compare policies from multiple insurance companies. But, when the time comes, you may want to buy your policy locally so you know someone you can go to from time to time with any questions you may have.

In any case, be aware that a homeowners policy is going to be required. Also know that if you do not get one on your own prior to closing day, your mortgage provider will probably offer you one. That mortgage-provider policy is almost always going to cost you more than a policy you bought on your own and brought evidence of coverage to the closing.

So be advised that it's worth a little time and effort up-front to save yourself some cash by identifying an insurance provider and having them issue a policy effective on the date of your closing.

Heard About the "Universal Design" Concept of Housing ?

2011-03-17T15:23:00.001-07:00

The term "Universal Design" refers to a wide range of architectural and construction concepts, products and services intended to make buildings of all kinds, products and environments more accessible to both able-bodied and physically challenged people. Home builders across Georgia in towns where retirees t4emd to be looking for homes are beginning to catch on and embrace this rapidly evolving trend.

According to Dick Plumb, a Sarasota real estate broker with experience helping retirees buy new homes or refurbish existing homes in the sarasota and Bradenton areas of Florida says that the universal design concept evolved from the earlier designation of "barrier-free" products and the overall "accessibility" movement. Those efforts focused on blending adaptive and assistive technologies to achieve functionality and aesthetics in products at the same time.

As life expectancy increases along with modern medicine increases in the survival rate of those with significant injuries, illnesses, and birth defects, there is a growing interest in universal design by many forward-thinking architects and builders. There are industries in which universal design has already achieved strong market penetration, but there are also others where universal design is still only a concept, not a product design criteria. For example, while curb cuts and sidewalk ramps, essential for people in wheelchairs but also used by all, are a common example, the home building industry has just recently become interested in the universal design concept.

Many homes in the Tampa Bay Florida real estate market are already being built with "universal design" features that will help today's baby boomers stay in their homes longer as they age. As more and more people decide to move to Georgia rather than put up with the over crowded conditions and awful traffic found in most Florida cities, this concept will surely become more commonplace here in Georgia as well.

There are already some homes being built in the Atlanta - Marietta real estate market with kitchen and bathroom cabinets with pull-out shelves, options for kitchen counters at several different heights to accommodate different tasks and postures as well as wheelchairs. Walk-in bathtubs are also being requested more and more often. There is also rapidly expanding use of lever door handles in place of standard door knobs making it easier for people with disabilities (as well as moms carrying a baby or bags of groceries) to open or close a door.

Perhaps the most interesting facet of this new "universal design" concept is how quickly growing numbers of young Georgia families are beginning to ask for such "easy-to-use" features in the homes they are considering building or buying, According to Janet Dugan, a respected Sarasota golf course homes expert, she finds more and more retirees asking for "universal design" features in the homes they want to consider buying. But, she acknowledges, younger families seem to be almost as interested as retirees in this new housing concept.

Any experienced Georgia Realtor can help you find builders employing "universal design" concepts in their new homes and a number of Atlanta area remodeling firms are now offering to install such products.

Snowbird Guide for our Canadian Visitors

2011-01-15T12:22:00.000-08:00

This is the time of year when our friends from Canada start coming to the South to enjoy our fairer weather and our casual lifestyle. Every year, more than a million Canadians migrate to several of the United States' southern most states. Some are seasonal visitors while others consider becoming permanent citizens of our two states.

Some of these "snowbirds," as we like to call them, consider buying a home or condominium here. Some of these "Snowbirds" also seriously consider taking the additional step of becoming legal residents of the U.S. Some do it just to reduce the property taxes on the homes they buy here while maintaining a home in Canada. Others intend to make the U.S. their permanent home.

In both cases, Canadians often wish they had good sources of information to help them make a good decision about either buying a home or condo here in the United States or even becoming Florida residents. In both cases, there is much to learn before "taking the plunge."

There is a new paperback book currently available that we think can be very helpful to those considering purchasing real estate in the U.S. and/or becoming permanent residents.

• "The Canadian Snowbird Guide" by Douglas Gray

This books is available for purchase at Amazon.com so we have included below a direct link to the Amazon.com pages on which it is advertised.

For those with an E-Reader device such as an IPad or Kindle, it is noteworthy that this paperback is also available to be downloaded to your E-Reader.

This book is also available from other Internet sites such as buy.com and books.Google.com and from from many local bookstores such as Borders and Barnes and Noble. We encourage you to consider taking at look at this book either before you come South this year, or, if you are already here, at one of our Atlanta area bookstores.

For a permanent home, a vacation getaway or an investment property, the communities in the Atlanta and Marietta Georgia area, after the recent deep price correction, is hard to beat. Come spend a week in our area and ask a local licensed Realtor to show you around. You'll be glad you did.

Normal Sales, Short Sales and Foreclosures - What's the Difference

2010-12-11T14:55:00.000-08:00

Educating potential home buyers says, Andree Huffine, Sarasota real estate agent, on the differences among conventional arms-length home purchases, short sales, and foreclosure sales is a fairly complex subject but worthy of spending a bit of time to define the differences.

A conventional home purchase is an "arms-length" transaction between a Seller and a Buyer. The Seller and Buyer are the only two parties involved and each has independently decided on the price at which the sale is agreed to take place based upon their own interests and value judgments. Each of them may or may not be involved with a Realtor providing advice and cousel. The negotiation of this type of ho0me buying transaction is fairly straight-forward and its terms are defined explicitly in the sales contract executed between the Buyer and the Seller.

The condition of homes purchased in this way is typically good, although the buyer typically requests as a condition of the purchase the right to have the home professionally inspected for certain spelled-out conditions (termite damage and structural problems are typical). Typically, there are only two or three major opt-out features of such a contract.

The first is if the home does not appraise for at least the amount of the sale price (or sometimes, just the amount of the mortgage being sought by the Buyer). The second concerns the ability of the Buyer to get approved for a mortgage of a certain amount which is also usually stated in the contract. Finally, there may be stated an option for the Buyer or Seller (or both) to walk away from the deal if the repairs required by the inspection exceed a given amount which is stated in the contract. If one or more of these criteria are not passed, the contract is frequently re-negotiated at a revised price to resolve the issue. Closings can take anywhere from 30 to 45 days.

A Short Sale home purchase, on the other hand, is a very different type of transaction. A short sale takes place when the home is being sold for a price less than the amount of the mortgage due on it (hence the term “short” sale) The difference is that there is a third party involved in the transaction, the mortgage holder. The condition of the property is may vary considerably from a conventional transaction depending on whether anyone is currently living in the property and how well it is being maintained. It is also common for there to be multiple offers accepted and submitted to the mortgage holder. From there, it’s up to the mortgage lender to review their position on the outstanding mortgage and decide whether or not to accept the offer.

This process can take months and there is no no guarantee that the lender will accept any of the offers. The mortgage lender may even make a counter-offer asking for an adjustment upward of the offered price. In some cases the mortgage holder has already determined the lowest (or bottom-line) price at which they will let the transaction occur. In this case, a short sale may close in 3 - 4 months.

An experienced Realtor may know if the “bottom line” number is current, expired, or needs to be revisited with a lower offer. This is sometimes determined by the Buyers’ urgency to occupy the property. Now, as the short sale bank reviews the offer(s) they take into consideration past HOA dues, unpaid mortgages, any attorney fees, unpaid taxes and utilities, liens against the property, commissions to be paid, etc. If the offer does not cover these expenses AND meet their “bottom line number, then the Buyer may be asked to pay some or all of them.

A complicating feature of some short sales is the existence of a “second mortgage” on the home which brings yet another party into the transaction. My own opinion is that short sales involving first and second mortgages are seldom worth the effort required to try to get everyone to agree. The negotiations even on a home with a single mortgage and relatively few extraneous problems like past due utility bills and property taxes or past dues homeowner or condo association dues can be arduous and volatile. In the end, the mortgage holder, at least in theory, is anxious to sell the home before it goes into foreclosure and their net proceeds drops to an even lower number.

Once a short sale transaction is finalized, it is the generally responsibility of the mortgage company to provide a clean title, remove the current occupants, if any, and present the home in “broom clean” condition except as noted in the sale contract. Such is seldom the case on foreclosure purchases.

Foreclosure purchases are a little more straight-forward than a short sale but still require the advice of an experienced real estate professional. Foreclosure properties are sold at auction. The mortgage holder typically set a price at which that lender will buy the property back themselves rather than see it sold at a price below that. Some foreclosed properties are in good condition; but many will require considerable work to make them ready for occupancy by the Buyer.

Foreclosure transactions usually come with a set of guidelines are set forth with various addenda from the owning bank/facility.. It is advisable to have a real estate attorney review these documents carefully with you before entering the bidding. Foreclosed homes may also receive multiple bids, so the Buyer may be subsequently asked for a “highest and best” offer. Buyers needs to be wary of this action since it is easy in the heat of the process to raise your offer to a price higher than the property is actually worth in its current condition.

Buying homes through the foreclosure property auction process is not for the uninitiated. In fact, my advice would be that no one except experienced professionals who buy such properties and refurbish them for resale as a way to make their living should get involved in a foreclosure property purchase. The mortgage holder is going to get even less from this transaction than the worst case “bottom line” number he had expected when the property was on the market as a short sale so you can expect them to be very focused on achieving their new “bottom line” number. They have little or no interest in investing any more money to protect the property at this point so the property may deteriorate considerably while you are wading through the foreclosure process.

Buyers need to check with a local real estate attorney and the county government offices to find out how and where foreclosure sales in your area are handled, but some common features are:
• No loan contingencies allowed
• Sealed bids only
• Proof of financial qualifications required with the bid
• Sizeable earnest money deposit with the bid
• Property is to be purchased "as is"
according to one popular Florida real estate information site.

Sometimes, according to Sarasota golf course homes broker, Janet Dugan, buyers are not even allowed to inspect the home before making an offer making it nearly impossible to calculate how much it will cost to improve the structure or bring it up to a habitable condition. Also, the owning bank may even demand the bidders come to the auction with a cashier’s check in the amount of their offer in hand.

In a foreclosure transaction, the Buyer is usually required to evict the tenant or owner from the premises after receiving title. The eviction processes can be costly and each state has different rules about how long the current occupant can stay in the home after its sale at auction, so Buyers need to understand all that is involved in an eviction process. Finally, it is fair to say that the about-to-be-evicted resident has little incentive to maintain the home; he or she may even do serious damage to the interior of the home before being evicted.
Nonetheless when a foreclosure bid is in place and accepted, the transaction will close very quickly.

If You Are a First-Time Home Buyer

2010-12-06T05:07:00.000-08:00

If you are a first-time home buyer in the Atlanta - Marietta Georgia area, this is a great time and a great real estate market for you because:

1. You do not have another property to sell that you might lose money on.

2. Mortgage rates are extremely low right now, and

3. Price reductions have made many homes much more affordable than they have been in over 10 years.

However, buying a home is a fairly complex process that takes time, knowledge and the guidance of a professional. Here are some pointers to help you accomplish your goal of buying a home that meets your ants and needs at a good price.

1. Buy a Notebook and get organized. Use that notebook exclusively for planning your first home purchase. First, summarize in writing the type of home and type of neighborhood you would like to find. Is it a ranch, a bi-level or tri-level, a two-story home, a duplex where you can rent the other half, a condo ? Do you want a small lot to maintain, a no maintenance community or a large lot of land; in the city or the suburbs or in a rural area? Then, write down those things you REALLY NEED TO HAVE in the home for it to meet your needs for the next 7 - 10 years. Also list five or more things you’d REALLY LIKE TO HAVE.

Keep this list handy and use it as a guide to judge every home you look at whether it’s a model home, an open house or part of a tour a Realtor has arranged for you.

2. Understand how much home you can afford. Make a budget to pinpoint how much you are willing and able to pay for your new home. As a “rule of thumb.” Keeping your monthly cost to 25% to 35% of your gross monthly income is a good place to start.

3. If you haven't already worked with a Realtor, meet with more than mortgage lender. Collect all the information you can and then and compare their interest rates and closing costs. Learn how much down payment will be required of you and the maximum amount each would lender would loan you based upon your income and other already-existing obligations. Ask each lender for at least a pre-qualification statement. If and when you are reasonably sure which lender you would prefer to borrow from, get a pre-approval letter which you can attach to any offer you might make. Having a pre-approval letter already in place is a powerful price negotiating tool when you're ready to make an offer.\

4. Introduce yourself to an experienced, full-time Realtor with whom you feel comfortable. Ask him or her to act on your behalf as your "Buyer's Agent." Only when acting as your Buyer's Agent is a Realtor required to work for your beneift and yours alone. The Realtor whose name is on a for sale sign, at an open house or a sales representative at a model home is NOT looking out for your best interests. They are working for and looking out for the Seller, not you.

5. Your Buyer's Agent Realtor will help you understand how your your housing affordability and your list of needs and wants fit with the market of for sale homes in your area. He or she will then research the best home values and neighborhoods that meet your criteria and provide you with a list of homes currently on the market that fit those criteria.

6. With or without your Realtor, drive around town visiting those neighborhoods you find most appealing and within your price range and identify those two or three neighborhoods and school districts you would most like to live in. This step will save both you and your Realtor a lot of wasted time and also help you to focus your criteria. After this step, you may want to sit with your Realtor again and adjust your Needs and Wants list and make changes to your priorities of needs versus wants, if necessary. Remember that this list is only as useful as you kept it in touch with the realities of your situation. It is natural to have started out with higher expectations than reality will allow, so do not be embarrassed or concerned if your list changes somewhat at this point. Update your list and carry on.

7. If you want to include "Short Sale" and "Foreclosure" homes in your search, be sure you fully understand how these procedures work (or in many cases, don't) and the amount of time those processes can take. Your Realtor can explain the process by which these types of transactions occur and clarify for you the pros and cons of both of these home buying processes versus a normal purchase transaction.

8. Now get out there and get going. There are wonderful homes available in this area at very attractive prices right now, but you need to be ready to act when you find the one you want. Your Needs and Want list, that hopefully you've kept up to date, will help you know when "this is the home for us."

The most desirable homes at the most attractive prices don't sit on the market for long, even in today's marketplace.

9. Work with your Realtor to decide upon your offer price. Your Realtor will help you by analyzing comparable properties in comparable neighborhoods to decide on an appropriate offering price. If you were able to secure a pre-approval letter from a lender, make sure it is still in effect, and attach it to your offer if you are offering less than the full asking price.

10. Work through the multi-step cotract-to-closing process. This process will include a home inspection, finalizing you mortgage application, and several other steps all of which your Buyer's Agent Realtor and your lender will help you with.

Eventually, you will sign more papers than you'd ever imagine possible at the closing and then you'll be ready to move into your first home. Congratulations !!

Bursting the Bubble on Some Real Estate Myths

2010-11-14T11:31:00.001-08:00

I'm amused, how many myths about real estate continue to exist. Many people believe these things, yet most of them are specious at best. I’m going to dispel seven of the most commonly held myths.

Myth #1 - You Should never buy the most expensive home in a neighborhood.

What a home is worth “to you” is what is important. But, think about this. At any point in time, some home has to be the most expensive in a neighborhood. If there is a good reason why it is the most expensive and it meets your needs and desires perfectly, maybe you should consider adjusting your view. Let's assume you are looking for a home in a neighborhood where people buy up old homes or bungalows and substantially enlarge, remodel, or even replace them. There are some neighborhoods called "tear-down neighborhoods" where nearly every home sold is torn down and replaced by a larger, more expensive home. So, you may find a neighborhood where a home that has already been remodelled and updated is priced above those that have not yet. If you are prepared to live in the home for a number of years, ask yourself, “what will the neighborhood average price be in 2 or 3 years after most of the remaining older homes have been updated or replaced.” You may be looking at a bargain today.

Myth # 2 - Builder-suggested upgrades add to the resale value of the home.

Not true. What is true is that upgrades add to the profit the builder will make on the home. Whether a given upgrade adds resale value to a home depends upon how popular that upgrade is with buyers. For example, solid surface counter tops like corian, granite or quartz are popular with buyers. Adding a closet to a room so when the home is resold that room can be classified as a bedroom will add value when the home is resold. But, paying extra for the latest color appliances may not. Generally it is smarter and frequently less expensive to choose the most neutral appliance, wall and carpet colors. Some other upgrades cost much more than they will add to the resale value of the home. A swimming pool, for example, seldom adds more than half what it cost to the resale value of a home. An experienced Realtor can provide you with this information.

Myth #3 - If a home has been for sale for a while, something is wrong with it.

Usually, what was "wrong" with it is that the price was just higher than any buyer was willing to pay. When people sell their homes, especially if they’ve lived in it for some time, they tend to over-estimate its worth. They “like the home just the way it is.” That doesn’t mean anyone else is going to be equally infatuated by it.

Time on the market is more likely simply an indication that the seller has been demanding more than the property is worth. Take the time to view it. It may also have a number of cosmetic defects that people didn’t like but which can be corrected at little cost. An example is a home with way too many colors on the wall, really out-of-date wallpaper, old-style dark stained kitchen cabinets, or way too much furniture making the rooms look smaller than they are. A competent Realtor hopefully would have pointed out these problems and had them resolved before the home ever went on the market but sometimes the seller refuses. So don’t refuse to view a home just because it’s been on the market for a long time. You may be looking at a home that has finally been priced correctly or that would be just right for you with very little effort or expense.

Myth #4 - Price per square foot is a good indicator of whether the price is right.

Knowing the price per square foot is at best only a slightly valuable piece of information. "A better metric," says Connie Belmont, a Sarasota FL real estate expert, "would be the 'price per useful square foot,' something you cannot determine without visiting the home. " And, by useful, we mean “useful to you and your lifestyle.”

Some floor plans are very efficient while others have lots of space wasted in corridors, excessively large bathrooms, bedrooms and/or duplicate rooms. A few years ago every home had to have a living room and a family room, an eat-in kitchen and a dining room. Today many people prefer more open floor plans where one “great room” encompasses the kitchen, dining area and living area all in a large, open area vastly reducing wasted square footage. It also gives the home a more open feel, something very popular for today’s home buyers.

In addition, a home with extra insulation, double pane windows, a high-efficiency heating and central air conditioning system, a newer roof, and popular trim and decor upgrades will have a higher cost per square foot and be well worth the extra cost.

Myth #5 - Buying a Foreclosure Property is always a good deal.

Let's define a good deal. "A good deal," according to one well-known Florida real estate expert, "is buying a house for under market value." In many ways, real estate properties act much like common stocks or any other type of asset. The less risk you are willing to assume, the more the asset (in this case a home) will cost. Foreclosure properties involve a lot of risk. That explains why they sell at prices well below other properties sold "at arm's length" in the same neighborhood. The risks you assume in buying a foreclosure property may reduce the market value of the property. If those risks turn out to be less than you had anticipated, you will have made a good deal. If those risks exceed your expectation, you could easily find yourself with a property that is going to cost a lot of money to refurbish impairing it's profit margin -- maybe even turning it into a loss.

Myth #6 - It's always better to get a bigger lot of land.

This one has really changed in recent years. Many buyers today are too busy to maintain a large lot and would just as soon have a smaller lot to care for. Given the busy lives many people lead, there is a trend today, especially in areas popular with retirees, toward “patio homes” where homes sit on very small, easily maintained lots but share larger common “community green spaces.” Unless there is some other reason why you want or need a large lot, there is no reason for you to pay extra to buy a home on a larger than average lot.

Myth # 7 - On a new home, the builder will charge more for the house if you use a Realtor® to represent you.

That is almost never the case. Builders are generally happy to have Realtors sell their homes. According to Janet Dugan, a Siesta Key homes for sale expert, "generally, builders consider the fee they pay Realtors to be part of their "marketing expense", money they have had to spend one way or another to sell their homes. In almost all cases, the home costs exactly the same whether you use the services of a Realtor® or not.

"In almost all cases," says Andree Huffine, a Sarasota Florida real estate agent, "it doesn't cost you anything to have the advice and counsel of a competent Realtor representing you. And," she says, "the Realtor may know things about this builder that you wouldn't otherwise be able to determine, like his his willingness to negotiate on price, his reputation for repairs after the sale and at what rate this neighborhood is being built-out giving you an idea of how long there will be construction machinery driving past your new home every day."

There are even more myths out there, but a competent real estate buyers agent like Brian Ward can help you sift through them and buy the home that is right for you, your family, and your lifestyle at a reasonable price.

How to Get Rich in the Real Estate Industry

2010-10-18T12:52:00.000-07:00

Angelo R. Mozilo, the former chief executive officer (CEO) of Countrywide Financial, untilit went belly-up, the nation’s largest mortgage lender, agreed to pay $67.5 million on Friday to settle a civil fraud case brought by the Securities and Exchange Commission last year, according to an article in USA Today. Mozilo agreed to repay $45 million in profits plus $22.5 million in civil penalties, stemming from charges filed against him by the Securities and Exchange Commission last year

Sounds like a lot of money doesn't it, but wait, first, Bank of America, the current owner of Countrywide Mortgage, is going to pay $20 million of Mr. Mozilo’s $67.5 million bill as part of the indemnification agreement he had with the company.

If you haven't followed the career of Angelo Mozilo and Countrywide Financial, the SEC last year alleged that Mr. Mozilo and former Countrywide executives David Sambol and Eric Sieracki misled shareholders about the quality of loans on the company’s books. In addition, Mozilo was charged with selling company shares based on inside knowledge of the company’s troubles.

The firm, under his direction as CEO, played a huge role in bringing on the collapse of the housing industry and in turn, the entire finanacial industry. Yet, as a result of this settlement, he will be able to live happily ever after having not even had to admit his guilt.

So here, in 10 simple steps, is how to GET OUTRAGEOUSLY RICH in just 9 yeasrs and live happily ever after.

1. Create a company that writes mortgages.

2. Write mortgages to people who you suspect cannot afford to repay them and then quickly sell off those mortgages to others.

3. Pull off your scam during a long housing boom with people taking out even more mortgages and then refinancing them.

4. Pay yourself 521.5 million dollars over 9 years (2000–2008).

5. Dump your stock in the company as you see the market beginning to turn down. Bank $140 million in profits from the sale.

6. Unload company on a large bank, Bank of America, which is getting a huge government hand-out to clean up the mess.

7. Retire.

8. Settle lawsuits for $67 million. Get your old company to pay $20 million of it.

9. Hire a security team to keep the ffamilies whose lives you destroyed away from you.

10. Live happily ever after.

The government prosecutors who made this deal are probably patting themselves on the back, thinking, "Yea babe, we took down a big-guy this time." In reality, Mozilo played them for fools and getting away with yet another scam -- not that outsmarting government bureaucrats takes all that much intelligence.

Factors Other Than Price That Affect Your Home Sale

2010-09-26T11:30:00.000-07:00

Have you ever wondered why some homes in your Atlanta or Marietta Georgia neighborhood sell while others just sit there even though they're priced about the same?

You've probably heard that "price" is the main determinant of whether or not a home sells in a reasonable amount of time, and, to some extent, that is true. But, there are also a number of variables other than price that drive a home either to be SOLD or to sit on the market for a longer time than necessary to find a buyer.

If it's your home you wondering about, a good place to start is to ask yourself, "Why should a buyer choose this home over all the others on the market," says Judie Berger, Sarasota real estate expert. If you can't answer this question, you are beginning to understand the problem. In a buyer's market like this, it is particularly important to have your home outshine the competition because buyers have lots of homes to choose from. Here's a list of things to think about and, hopefully, do something about.

•Id the Home in Less Than Perfect Condition
How is the first impression it gives a prospective buyer -- the age old "curb appeal" problem. AS you drive down your street what is there about your home that makes it "stand out." If there isn't anything, get to work making it appear outstanding. There are ideas to consider at this article on Curb Appeal. Inside, is the kitchen up to date ? Do the bathrooms sparkle? Not necessarily in absolute terms but in competition with similar homes on the market in your neighborhood at about the same price range. Kitchens and baths are extremely important to the woman of the house. How about the carpets, are they worn or dirty? If it has hardwood floors are they near-perfect or do they need to be refinished?

•Is it in a Less than Ideal Location
The most attractive home won't sell quickly if it is in a really undesirable location -- high traffic road, industrial area, near railroad tracks, higher than normal crime rate, so-so school district... You will have to adjust your price downward to accommodate these weaknesses to get it sold.

•Does Your Home Look and Feel Smaller than it is
Frequently the biggest cause of a home looking smaller than it is is the presence of too much "stuff," says Connie Belmont, another Sarasota FL realtor. Simply removing excess furniture from rooms that "feel small" by storing it in the garage can help. De-cluttering is another approach. You may have lots of counter space in the kitchen but if it's all covered with small appliances, pots and pans, a coffee maker, etc, it'll look small. In some cases, it may be a smart move to hire a professional "home-stager" who can help you better present the home.

•It Looks like a "Family Shrine"
Everyone likes to keep photos of their family around the home, but when it's time to sell, you want the home to be as family-neutral as possible. Remove excessive numbers of family photos, religious artifacts, sporting trophies, etc. from the fireplace mantle, bureau tops -- just about everywhere. If removing a huge family photo from a wall leaves a mark, repaint that area. Removing those personal magnets from the front of the refrigerator helps, too. You want the prospective buyer to be able to imagine themselves living in this home. That's harder to do when there are too many reminders that it's still "somebody else's home."

•Less than Optimal Listings Materials
Look at the text of the listings you or your Realtor have put in magazines like Real Estate Book or Homes & Land or newspapers and compare them to the wording used on homes listed by Realtors that sold fairly quickly for close to the asking price. You may just need to dress up your verbiage with more inviting thoughts. Also, check the photos being used. Every day I see home listing photos that range from excellent to absolutely awful. If your photos don't make the home look unbelievably inviting, take better photos. Some real successful Realtors like Cheryl Stimac, a Tampa Bay real estate broker, take their own photos to assure they are as good as they can be in presenting the home in its best light.

•Ask Yourself If You an Uncooperative Seller
This is a tough one. "If you as the seller aren't willing to do some doll-up work, you refuse to leave the home during showings, you leave the home a mess when you do leave, you won't allow your Realtor to put a lockbox on your home, or worst of all, you are a heavy smoker or you have a smelly pet and don't clean up or at least eliminate the odor before showings you, yourself, may be the biggest deterrent to a quick and profitable sale.

These issues, while perhaps uncomfortable to deal with on a personal level, are keys that will help you get what you want ... your home sold at a reasonable price in a reasonable amount of time.

There is a whole lot more advice for home buyers and sellers available at this
Home Buying and Selling Information site.

Understanding Your VA Loan and Basic Allowance for Housing (BAH) Benefits

2010-09-12T08:20:00.000-07:00

Active-duty service members and veterans living near Dobbins Air Force Base and Fort McPherson are making the best of their VA Loan and Basic Allowance for Housing (BAH) benefits. How?
Through the two programs, veterans and active-duty members are able to buy homes for low rates and little out-of-pocket cost. At the same time, active-duty folks who qualify can defray their monthly mortgage costs -- if not cover them entirely -- using their BAH stipends.

The BAH program gives service members on permanent duty within the U.S. housing compensation when government lodgings are not available. The amount awarded is based on pay grade, location and dependency status. BAH rates can go as high as $2,800 in some counties and usually can cover all of the service member’s expenses. Permanent duty soldiers with dependents get more than singles.

The VA Loan
BAH rates do not have to be used solely for rental situations. Military members can use their BAH stipends to cover mortgage costs. At the same time, they can accumulate or save more money with the VA loan. Why?
Lenders readily approve the loan due to its low risk factor. The Department of Veteran Affairs covers most of the potential loss a lender might take. Therefore, rates are low, closing costs are reasonable and veterans save money.
Qualified veterans in the Atlanta area can obtain a loan up to $417,000 without a down payment. Bad credit scores are not as big of a deal with VA loans as with conventional loans. Qualified VA lenders will look at the whole picture—credit history and debt to income ratio.
A lending counselor can help a service member gather all the necessary documentation needed for a VA loan. The VA website provides a detailed list of what’s required as well.

Eligibility
Eligibility for the VA program is determined through proof of service and a certificate of eligibility. A military member must be able to prove that he or she served 90 days during wartime and 181 days during a time of peace.

Fewer Financial Obligations
Combining the benefits of these two programs could leave a veteran and his or her family with little financial obligation per month. They will be able to save beyond their imagination or put money toward other opportunities, such as college, vacation or retirement. Speak with a VA counselor today about options.

This post contributed by guest publisher James Kelley

Have You Enjoyed a Marietta Square "Brown Bag" Concert Yet?

2010-09-09T10:33:00.000-07:00

During every September, the Marietta Parks and Recreation Department sponsors a Brown Bag Concert Series at the bandstand in Marietta Square. The first concert this year was held on Thursday, September 2nd at noon.

These free lunch-time concerts will be held every Thursday during the month of September weather permitting at the bandstand at the north end of Marietta Square.

So, if you enjoy music, bring your lunch and enjoy hearing local musicians "do their thing" on stage. Bring your friends, your children and your co-workers if you work in the area.

This year's performers include:

•September 2: Joy Parkman (worship)
•September 9: Beulah Land Gospel Band (gospel)
•September 16: Bob Geresti (piano)
•September 23: Sonya Shell (country)
•September 30: Tortoise and Hair (acoustic guitar)

The Brown Bag Concert series is just one more attribute that makes Marietta such a fine place to live and work and raise your family.

If you'd like to know more about Marietta Square and the many attractions in and around it, visit this Marietta Square webpage.

Some Tax Credit Home Buyers Getting a Needed Break

2010-07-17T11:03:00.000-07:00

Altanta Georgia area home buyers who already had home purchases under contract as of April 30, 2010 and who otherwise qualified for the $8,000 first-time or the $6,500 move-up home buyer tax credit, but had not closed on the purchase by June 30, 2010, have been given a break.

Thanks to an amendment to the home buyer tax credit program, these home buyers will now have until September 30, 2010 to close on their home purchases. Under normal circumstances, these buyers most likely would have closed on their purchases by the original deadline date of June 30th, but because of the huge number of mortgage applications filed, a huge backlog of in-process applications built up. This amendment gives them until September 30, 2010 to close on their home purchase and still qualify for the tax credit.

The “American Jobs and Closing Tax Loopholes Act of 2010,” which also extended unemployment insurance benefits includes this time extension. Senator Reid said this extension will allow lenders to clear a huge backlog of nearly 180,000 home buyer mortgage applications across the country.

National Association of Realtors President Vicki Golder says, “Since these applications were already in the pipe-line and included in the program’s cost, this extension of the closing deadline will not incur any further government costs.”

Bert Stanley, an ex-Realtor who operates the Real estate of Florida website, welcomed the extension as a way to save a large number of pending home sales, particularly those involving short sale deals, which otherwise would be lost.

"More than just this simple program extension will be required to keep the U.S. real estate recovery momentum moving forward," suggests Rich Stover, a Sarasota Florida real estate agent. But in this market, every little bit of assistance helps keep the real estate market afloat whether it's in Atlanta Georgia, Sarasota Florida or wherever.

Home Buyer Tax Credit Program Extended for Some

2010-06-30T11:09:00.000-07:00

Georgia home buyers who already had home purchses under contract as of April 30, 2010 and who otherwise qualified for the first-time or move-up home buyer tax credit, have been given a break.

Thanks to an amendment to the tax credit program, these home buyers now have until September 30, 2010 to close on their home purchase. Under normal circumstances, these buyers most likely would have closed on their purchases by June 30th, the original deadline, but because of the huge number of mortgage applications, this amendment gives them until September 30, 2010 to close on their home purchase and still qualify for the tax credit.

The “American Jobs and Closing Tax Loopholes Act of 2010,” which also extended unemployment insurance benefits includes this time extension. Senator Harry Reid said this extension will allow lenders to clear a backlog of nearly 180,000 homebuyer mortgage appilcations across the U.S.

National Association of Realtors President Vicki Golder said recently, “Since these applications were already in the pipeline and figured into the program’s cost, the extension of the closing deadline will not incur any further government costs.”

Brian Ward, an experienced Sarasota real estate agent welcomed the extension as a means to save lots of pending home sales which otherwise would be lost.

"More than this will be required, however, to keep the real estate recovery momentum going," suggested Connie Belmont, another Sarasota realtor.

Don't You Wish Atlanta had "Waterfront Homes"

2010-05-21T11:56:00.000-07:00

OK, I admit it, I moved from Georgia to the Florida Southwestern Coast a number of years ago, so my opinions may be prejudiced but, here goes...

Soft, powdery white sand beaches, world-class shopping and dining and a constant flow of boating, sailing and fishing events coupled with natural beauty rank Sarasota Florida waterfront communities among the nation's 15 most livable communities.

The Sarasota area waterfront is comprised of Sarasota and Manatee Counties embracing the communities of Bradenton and Anna Maria Island, which includes Anna Maria, Holmes Beach and Bradenton Beach to the north, Sarasota and its distinctive barrier island keys, and the communities of Osprey and Venice to the south. The new planned community of Lakewood Ranch, while not directly on the waterfront is only a 15 minute drive to the area's beaches, marinas and waterfront parks.

Sarasota has long been known around the world for its award-winning beaches, crystal-clear gulf waters and a constant flow of boating, fishing and sailing activities. The barrier islands, Bird Key, Longboat Key, Siesta Key, Lido Key and Casey Key are not only pristine areas, each with it's own unique lifestyle, are also home to some of the most luxurious waterfront homes in Florida. Downtown Sarasota, itself, much of which sits right on the waterfront, offers every imaginable housing style from modest town homes and condos to elegant waterfront homes and estates.

The weather in Sarasota is perfect for the outdoor lifestyle enjoyed in our average year-round temperature of 71 degrees, over 200 sunny days per year and only scant rainfall. The warm waters of the Gulf of Mexico and gorgeous sunsets over the Gulf and Sarasota Bay just add to the appeal of Sarasota area waterfront communities.

AARP Magazine ranked the Sarasota Florida area, known as "Florida's Sun Coast," as #4 on its list of "Best Places to Reinvent Your Life.” Barbara Corcoran, a noted real estate expert, ranked Sarasota as the "Best Place to Buy a Home Right Now" on a recent Today Show. Money Magazine called Sarasota the "Ultimate Beach Town" with its 35 miles of sugary-soft pure white beaches and more than 200 sunny days a year.
The Arts and Cultural Center of Southwestern Florida, Sarasota provides undeniably the widest variety of arts and cultural venues including our own opera, ballet and symphony orchestra as well as the famous Ringling Museum or Art and many other exceptional settings.

For the business owner or entrepreneur, Sarasota and Sarasota County offer a business climate that is as warm and friendly as our weather. From relocation and expansion assistance to workforce development and financial incentives, Sarasota County has earned rave reviews from the business community for fostering strategic alliances between the public and private sectors.

Some Sarasota area waterfront communities such as the SouthBay Yacht & Racquet Club community in Osprey are centered around deep water marinas. For those who enjoy both water sports and golf, there are Sarasota waterfront communities with both including Holmes Beach on Anna Maria Island with the Key Royale Golf Club, Longboat Key with its Longboat Key Club 45-hole courses and Whitfield Estates which surrounds the Sara Bay golf course.

Peruse pictorial tours of many of the nicest Sarasota area waterfront communities Then, take advantage of the experience and expertise of a Sarasota Florida waterfront specialist like Brian Ward or Bob Henley, Sarasota Realtor to find your perfect seasonal or year-round dream home.

Stop - Before You Buy Your First Home, Do This

2010-05-02T10:36:00.000-07:00

It seems easy enough, doesn't it. All you have to do is just find the home you want in the Atlanta Georgia in-town or suburban neighborhood of your choice, call the Realtor whose sign is out front, and buy it as long as the mortgage payment including taxes fits within your budget. The problem is that there is a lot more to buying and owning a home that really fits you and your income than that.

That's because transitioning from renting to owning a home costs more than just the mortgage and taxes. When something breaks or quits working, you can't just call the landlord, says Brian Ward, a respected Sarasota Florida real estate agent.

The smart first step in the home buying process is to get to know a competent Realtor. Before you start searching for a home, locate a Realtor you feel comfortable with and ask him or her if they would be willing to represent you as your "buyer's agent."

A competent buyer's agent Realtor will want to review your finances with you in a fair amount of detail. He or she is not just being nosy. He or she will want to review all of your sources of income and all of your expenses. In addition to assuring that the cost of a home's PITI (that's mortgage Principal, Interest, Taxes and Insurance) will fit comfortably within your budget, you need to leave yourself a "cushion" for all the other home ownership expenses that will surely come with the home -- things like furnishing it, paying monthly utility bills, maybe even buying a lawn mower and yard tools.

Once you buy that first home, you'll no longer have a landlord to call when something breaks. You need to have funds available to repair or replace a broken washer or dryer, fix a broken window or replace a faulty garage door opener. Yes, the expenses associated with all of these things and more will be your responsibility once you enter the world of home ownership.

According to Connie Belmont, a well known Sarasota real estate expert, most young singles and married couples already have a pretty hefty debt load from things like college loans, car payments or credit card purchases. "All of these expenses need to be included in your financial analysis before you start looking at homes", she said.

will help you find your way through this fist-time home buyer process doing you a big favor in the process.

"If there's one source of friction a young couple does not need as they start their home ownership experience," says Janet Dugan, an experienced Sarasota realtor, "is being 'house poor' where the costs of your new home eats up so much of your income that you have nothing left with which to enjoy your life together."

Finally, after you've nailed down your financial situation with that buyer's agent Realtor, remember this. Don't ever call the Georgia Realtor whose sign is on the sign out front of a home you think you may want. That Realtor, called a listing agent or "seller's agent", is required by law to represent the interests of the home seller, not you, the buyer. So as you begin your home finding process, stay in touch with that buyer's agent Realtor who helped you work through your financial analysis. Let them help you through the rest of the process of buying your first home. You'll be very glad you did.

Take you time and do your homework first. Then, go out with your buyer's agent Realtor and find that Atlanta Georgia area home or condominium that is not only perfect for you but which also fits your pocketbook as well as it fits your dreams.

The Home Buyer Tax Credit Program is About to Expire

2010-04-09T12:14:00.000-07:00

*** Time to Get Moving !! ***

The federal home buyer tax credit, originally aimed at first-time buyers only, but then extended and expanded last fall to include existing homeowners expires very soon.

If you've been delaying a decision on whether the time is right for you to invest in a home or condominium, it's time to contact a competent Realtor® TODAY and get a home purchase contract finalized by the end of this month, April 30th. If not, you are going to miss the opportunity to gain up to a $8,000 income tax credit if you're a first-time buyer or up to $6,500 income tax credit if you currently already own a home.

And don't forget that, in addition to having to get a home purchase under contract (that means signed by both the buyer and the seller) by April 30, you must also close on the sale on or before June 30, 2010.

Who qualifies as a "first-time buyer" for up to an $8,000 credit?
The law defines a “first-time home buyer” as one who has not owned a principal residence during the 3-year period prior to the purchase. For married taxpayers, the law tests the home ownership history of both the home buyer and his/her spouse.

If, for example, you have not owned a home in the past 3 years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the tax credit. However, there are exceptions. As an example, there is a possibility for unmarried joint purchasers to allocate the credit amount to any buyer who qualifies as a first-time buyer, such as if a parent jointly purchases a home with child. There are also rules about ownership of vacation or rental properties not used as a principal residence.

How is the amount of the first time home buyer tax credit determined?
The tax credit is equal to 10% of the purchase price of your new home up to a maximum of $8,000 but there are income limits.

Who qualifies as a existing homeowner for up to the $6,500 credit?
The law defines a tax credit-qualified existing or "move-up" home buyer as a person who has owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date of the new home. For married taxpayers, the law tests the home ownership history of both the home buyer and his or her spouse. That is, both spouses must qualify as long-time residents, with at least five years of principal residency for each. They do not, however, have to purchase a home that is more expensive than their previous home to qualify for the tax credit.

How is the amount of the tax credit for exiasting home owners determined?
The tax credit is equal to 10% of the home’s purchase price up to the maximum of $6,500. Purchases of homes priced above $800,000 are not eligible for the tax credit. And, there are income limitations. If your income is above the limit, you may, however, still qualify for a partial credit.

If you are now even more confused than you were before about whether you are eligible for either of these two homebuyer tax credits, contact a competent local Realtor immediately. A Realtor experienced in dealing with these types of situations can tell you after just a brief conversation whether or not you qualify.

Time is getting really short. You've only got about three weeks left to act.

It's Time to Get Moving !!

Selecting a Post-Retirement Housing Option

2010-03-22T12:30:00.000-07:00

It happens to all of us. As we get older, the prospect of becoming "more than just retired" becomes something we need to consider before we find ourselves having to make a housing decision under less than ideal conditions.

Retirement is a beautiful experience, that's for sure. But as you proceed through this period of life, you need to consider what type of lifestyle you want to have in your later years and in what locale you want to have it. Do you have a place you always wanted to live? Do you want to be close to the grandchildren or a son or daughter? Are you in love with the town where you live right now and want to stay there? Do you need or a spouse anticipate needing assistance with some daily activities in the near future. Or is it simply that now that the kids are long-gone, it may also be time to consider downsizing to a smaller home, preferably one with few or no stairs.

Many metropolitan areas have seen home prices drop rather dramatically in the past two years. Homes, condos and various other forms of senior housing that were once out of your price range may now be more affordable.

In some communities, developments than were previously accessible only for 55-and-up seniors are opening their doors to younger residents to get the remaining units sold. So, if you'd like a setting that includes a wider range of age groups, you're no longer excluded from some of these developments.

Here are some suggestions of the options that may be available to you.

Today there are housing arrangements to fit every need or want you may have. Many communities offer everything from modest condos and single family homes to elegant condos with every conceivable amenity.

A Single Family Home in a Standard Neighborhood. If you want and still appreciate fairly complete privacy, this may be the best option for you. If, for example, you'd like to have a garden, or you still have the stamina and enjoy keeping up a home, a single family home is probably best for you. You may want to focus on one-story or ranch style homes or at least one with the master bedroom and bath on the first floor. Home are now being built with the master bed and bath on the first floor plus some guest accommodations upstairs -- or downstairs from the main living area.

A Condominium or Villa housing option may be your "cup of tea" if want a measure of privacy but you hate the idea of having to care for the exterior of a home or a yard. If entertaining friends is something you plan to do a lot, though, look for a place with a roomy patio or at least a large great room in an open floor plan.

Independent Living Communities or what are sometimes called Active Adult Retirement Communities are also among the options available. Independent Living units usually refer to residences in compact, easy-to-maintain, private apartments or smaller one-story individual homes where at least all the exterior maintenance is done by an association. These types of housing typically restrict residents to a certain minimum age so if you don't care to have children running around the neighborhood, this may be your preferred option. Such communities focus primarily on providing activities appreciated by more senior people such as golfing, a heated swimming pool, a community room, or walking and bike trails.

Assisted Living Retirement Communities offer a combination of housing and some health-related care designed to respond to the individual needs of those who require help with some of the activities of daily living. If one of you has limited mobility or you just don't want the bother of cooking your own meals anymore, this may be an appropriate choice. Many of these developments also offer transportation to and from doctors offices, as well as for shopping and other activities.

The time will come for most of us move from our current home into an option more suited to our age, our interests and our capabilities. And there are lots of good reasons to get your planning done sooner rather than later. Your community or the one you are considering probably has a some form of senior counseling. You may want to call the local newspaper, the local office of the aging, or any local social services agencies for some initial advice.

If buying a home or condominium is your goal, a competent realtor in your area can assist you determining the value of the home you may have to sell as well as helping you find exactly the housing option you want at the amount you're willing to invest. And if you do it soon, you may qualify for up to a $6,500 tax credit. Be sure to ask about that.

Come Visit the Georgia Aquarium - You'll Love it

2010-03-04T09:33:00.000-08:00

We posted this note several months ago because I was so impressed when it opened. But since I've been back to visit the Aquarium again recently, I just want to make sure that all visitors and residents of metro Atlanta Georgia know about this fantastic facility that is so enjoyable for both adults and children.

With more than 8 million gallons of fresh and marine water and more aquatic life than found in any other aquarium, you are sure to see things you’ve never seen before at the the Georgia Aquarium. It offers fresh wonder and excitement around every corner. The Aquarium is open 365 days a year.

The Georgia Explorer gallery is a highly interactive gallery with touch pools full of horseshoe crabs, sea stars, stingrays and shrimp. The kids love it.

Several large habitats feature loggerhead sea turtles and the fish of Gray’s Reef – an underwater area off the Georgia coast designated a National Marine Sanctuary. The Whale Gallery will connect you with the right whales that live right off the Georgia coast. Right whales are one of the most endangered mammals on the planet.

As of this month, our two Beluga whales are back in the Georgia-Pacific Cold Water Quest gallery. They arrived February 22nd. Maris returns to the Georgia Aquarium after a brief stay at SeaWorld San Antonio, while the Beluga whale habitat was undergoing improvements. Beethoven was the first successful beluga whale calf born at SeaWorld San Antonio. The belugas are joined by four new harbor seals whop arrived at about the same time.

The Georgia Aquarium also offers an exciting and intriguing environment for special events. The Oceans Ballroom features two spectacular aquarium viewing windows into aquatic habitats a backdrop for any event that is just spectacular.

My Forgetter is Fine, But My Rememberer is Broke

2010-02-05T13:23:00.000-08:00

I found this poem in a newsletter called the "Country Courier" in Lewisburg, NY and thought it worth sharing.
If you know who originated it, please send me a note. It's priceless.

My forgetter is getting better but my rememberer is broke.
To you that may seem funny, but to me it's no joke.
For when I'm "here," I'm wondering if I really should be "there".
And when I try to think it through, I haven't got a prayer!
Oft times I walk into a room and say "What am I here for?"
I wrack my brain but all in vain. A zero is my score.
At times I put something away where it's safe
but, gee, the person it is safest from is generally me!
When shopping I may see someone and say "Hi" and have a chat
But then when that person walks away, I ask myself, "Who the heck was that?"
Yes, my forgetter is gettin' better while my rememberer is broke.
And it's driving me plumb crazy. And that is not a joke.

November Homes Sale Up _ I'ts Time to Get Invloved

2010-01-07T10:24:00.000-08:00

At the close of 2009 homes sales in Atlanta were better than anytime during the past 3 years, up in November by a whopping 44% over last November.

In addition to the support from the federal program, however, was the fact that with prices considerably reduced, home buyers were more tempted than ever to "take the plunge" into owning a home for the first time. On top of that consumer confidence is beginning to improve and interest rates have remained at the lowest level in decades.

There is little doubt that the November increase in home sales was supported by the U.S. government's $8,000 first-time home buyer tax credit program which was scheduled to expire at the end of November. But, Congress has now extended the $8,000tax credit for first-time buyers and even expanded the program to include existing home buyers under certain conditions. And those conditions are not all that restricted.

For more information on the potential of you getting up to a $6,500 tax credit even if you already own a home, contact a local Realtor. there has probably never been a better time to buy a home here in Atlanta and its suburbs whether you're looking for the first-time or considering moving up to a bigger home from one you already own.

Home Buyer Tax Credit Extended to Those Already Owning a Home

2009-11-06T14:03:00.000-08:00

The first-time home buyer tax credit, that realtors have reported goosed home sales this Summer but due to expire at the end of November, has been extended through April 30, 2010 by Congress and is on its way to the president for his signature.

The exztension act expands eligibility for the home buyer tax credit to people with higher incomes and those who already own a home for at least the past five years. Both groups must sign a purchase contract on or before April 30, 2010 and close on the purchase by June 30, 2010. The $8,000 maximum first-time buyer tax credit will continue but will now be available to individuals with incomes up to $125,000 and joint filers with annual incomes up to $225,000. Home buyers with incomes up to $145,000 and couples with incomes up to $245,000 will be eligible for somewhat reduced tax credits.

Under similar income limits, a $6,500 maximum tax credit will be available to people who already own a home and want to move up to a larger home.

Under the new income limits, two-thirds of all American families owning a home today may be eligible to buy a new home. While buyers will not be required to sell their current home to qualify, the tax credit must be used to buy a new "primary residence", not a vacation home or investment property.

To keep speculators out of the program, people who claim the credit but then sell the home or no longer use it as their primary residence within three years will be required to repay the credit. The intent is to exclude from the program speculators who might purchase a home intending to flip it for a fast profit, according to Max Baucus, chairman of the Senate Finance Committee.

Here's a "heads-up" to those who may have considered buying a first home under the prior program but didn't get around to it.

"Contact a Realtor and get started now. You only have until April 30, 2010."

Legislators in both houses of Congress have indicated that this costly program will not be extended again. Critics point out that only about one-fourth of the homes purchased under the prior program would not have been bought anyway without the costly tax-credit program. There are also concerns that the previous tax credit program encompassed high numbers of fraudulent transactions. In this version of the program, the Internal Revenue Service has been given much wider authority to oversee the process to root out fraud.

Beware - You May Lose Your Capital Gains Tax Exemption on Your Home Up North

2009-10-24T08:50:00.000-07:00

Those who have already, or are thinking about buying a retirement home or condo in the warmer Georgia clime, but who are planning on keeping their home up North for a while, may think it obvious that they ought to change their legal residency to the state of Georgia as soon as possible.

In addition to the fact that Georgia income taxes are lower than some northern states, Georgia taxpayers who are 62 years old or older can exclude up to $35,000 of retirement income from the Georgia state income tax. In many cases this represents a considerable savings over the taxes you would have paid by continuing to be registered as a resident of the state you lived in up North.

But beware, you may be setting yourself up for a "big" capital gains tax bill.

The home seller's capital gains tax exclusion on the sale of your home up North is only applicable if that home was still your "principal residence" for at least 2 of the past 5 years before you sold it. Changing your residency may very well mean that legally your home up north is no longer your "principal residence."

Put simply, once you formally become a Georgia resident, you may have only three years to sell your home up North before the capital gains exemption on the sale of that home expires.

Once you lose that capital gains exemption, you will be hit with the standard 15% federal capital gains tax on the gain on the sale of that home as well as any state taxes that may also be due on that gain.

Please treat these comments as not the final word on the topic, but as a thought-starter to get you thinking about this topic.

If you are considering changing your residency to Georgia, you should contact a knowledgeable real estate attorney or your accountant to assure that you don't end up giving a lot of money to your state and federal governments. We are fairly certain that you would have enjoyed using those funds instead to enhance your enjoyment of your retirement here in Georgia.

Will the First-time Home Buyer Tax Credit Be Extended ?

2009-10-01T11:48:00.000-07:00

Realtor across the nation and home builders are lobbying to extend the $8,000 first-time home buyer tax credit currently scheduled to expire on November 30, 2009. Technically, the home doesn't have to be a "first" home. The buyer's just have to meet the requirement of not having owned a home in the past 3 years. If there are two people involved, neither of them can have owned a home during the past 3 years.

The American Recovery and Reinvestment Act of 2009 (stimulus package) authorized a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence between January 1, 2009 and November 30, 2009. The program has been more than just successful in reducing the inventory of unsold homes while helping many families afford to buy their first home.

The National Association of Home Builders (NAHB) and the National Association of Realtors (NAR) are both hoping to persuade Congress to pass legislation to extend the tax credit as soon as possible. The associations are pressing hard on members of Congress. Something they are pushing for, in addition to an "extension" of the first-time home buyer credit, is an "expansion" of the program to cover all home buyers through the end of 2010.

Senate Majority Leader Reid recently indicated that he believes “it's something we can get done.” Senate Banking Committee Chairman Democrat Chris Dodd and Republican Johnny Isakson are sponsoring a bill to extend the credit through 2010 and expand it to a $15,000 maximum. In the House, two bills have been introduced to extend and expand the credit for either 6 or 12 months. Both the NAR and the NAHB organizations are strongly supporting these initiatives.

With this impetus, it might seem likely that in one form or another, the home buyer tax credit program will be extended into next year, but...

There is no such thing as a "sure thing" in Washington, DC. NAR spokesperson Walter Molony recently justified his organization’s support for the tax credit saying that it is reducing the inventory of unsold homes and stabilizing pricing, benefiting the whole U.S. economy.” But, NAR also estimates that up to 1.8 million first-time buyers will take advantage of the $8,000 first-time home buyer tax credit before the current version expires. The current program expiring on November 30th is expected to cost about $15.50 billion.

Viewed another way, however, NAR's own estimate is that only 350,000 of the homes sold under this program would not have been sold without the tax credit. If you now divide the $15.5 billion the program cost by only those 350,000 homes that would not have been sold without it and you get a whopping $44,000+ per additional home sold. And, critics say, the numbers would only get worse if the program is extended and especially so if it were expanded to cover all home buyers.

Fiscal conservatives in both the Democrats and Republicans will surely complain that any extension of this program will only add to the ballooning national debt while selling far fewer homes than the NAR and HAHB are crowing about.

So, don't assume this program will be extended. If you are in the market for a home, and you qualify for the current $8,000 tax credit, you should be working with a Realtor right now to buy the home you've been wanting so you can close on it before the November 30th expiration of the current program. If you aren't already involved, contact a Realtor and get started toward owning your piece of the American Dream.

Is Vick Really Remorseful About his Dog-Fighting Days

2009-08-21T14:05:00.000-07:00

Best Friends Animal Society, which took in 22 of Michael Vick’s fighting dogs in January of 2008, today released the following statement regarding Vick’s announced contract signing with the Philadelphia Eagles of the National Football League.

“Michael Vick has served his time and satisfied the requirements of our legal system. But if he is truly as remorseful as he claims, then he must know in his heart that what he did cannot be undone. In fact, the only true expression of remorse that he could possibly make would be to dedicate the rest of his life to relieving the suffering of animals and helping to bring all dogfighting to an end.

“This being said, Best Friends feels that perhaps the cart is being placed before the horse. Wouldn’t it have been better if, before he was given the privilege of returning to the NFL, he had spent at least one year working for the good of animals? He could have worked as a shelter volunteer, visited community centers, and delivered messages to at-risk children, totally free from the glare of the pro football spotlight. Surely this act of dedication would help us see what truly is in his heart.

“As it is, we’re left to wonder if his expression of repentance is genuine or just part of a well-orchestrated plan to return him to multi-million-dollar, sports megastar status.

“Through our work with the ‘Vicktory Dogs,’ we hope to improve the image of all dogs that are the unfortunate victims of cruelty, such as the American pit bull terrier and dogs that resemble pit bulls. Our “Pit Bulls: Saving America’s Dog” campaign is an example of how we are committing time and resources to end dog fighting for good.

“We sincerely believe that our work for the good of the dogs is the best single statement we could possibly make about Vick and dog fighting in general. Our focus remains fixed on helping animals and educating the public until the horrible practice of dog fighting can be eliminated once and for all.

“We hope that people concerned about Vick’s return to football will channel their frustrations into something positive. Take a pit bull for a walk. Volunteer at your local shelter. Better yet, skip an Eagles game and donate what you would have paid for a ticket to the animal welfare organization of your choice.”

If you agree with these sentiments, let your voice be heard. Tell your friends how you feel about it.

Understanding "Heat Tansfer" to Reduce Energy Cost in Your Home

2009-06-27T09:45:00.000-07:00

As we enter the warmer part of the year in Georgia, it is useful to remember that as much as 50% of the energy used in your home goes to heating and cooling. If you are trying to save money or you're trying to embrace a "greener", or more eco-friendly lifestyle, do you know enough about the nature of heat transfer to make the right decisions? Let's review the basics of how "heat" works.

Heating and cooling your home are both instances of "heat transfer." First, let's dispense with the notion that heat always rises. That is true in only one form of heat transfer. In general, heat energy flows in all directions equally. There are three different ways in which heat is transferred; conduction, convection and radiation.

Conduction is the form of heat transfer through a material, for example, the walls of your home in summer and winter. For any given amount of in-wall insulation, measured in its R-value, conduction is what accounts for the heat loss (or for cooling, heat-build-up) through the walls and roof.

Convection heat transfer occurs when heat travels in a moving fluid or gas, for example the heat energy that moves along with the passage of air. The "wind chill factor" you hear about in northern state weather reports is a measure of how much heat energy is transferred by convection when you're outside due to the effect of wind.

The third form of heat transfer is radiation. Radiation is the transfer of heat energy through empty space, or the way the sun warms the Earth. Radiant heating is not affected by being in contact with a solid material the way conduction loss does, or by moving along in a fluid or gas the way convection does. Radiant heat transfer is what warms your home when the sun is out.

You can use your knowledge of these three forms of heat transfer to make your home, commercial building or remodeling project more energy-efficient.

You can reduce the amount of heat build-up or conversely, cooling-loss due to conduction through your walls by increasing the R-value of the insulation in the walls by adding more. Installing double pane windows and sliding glass doors, if your home wasn't built with them originally, will reduce conductive loss of those items. The gases between the two panes of glass, along with films and coatings (like "low-E") can increase the insulating value of your doors and windows from R-2 to R-6 or more.

Caulking or using foam insulation material to seal crevices or openings around doors, windows and electrical outlets will reduce convection heating or cooling loss caused by air infiltration.

Fireplaces are wonderful to have on a frosty Winter evening, but they area a big source of convective heat transfer as air continuously flows up the chimney if the flue damper isn't completely air-tight. If you have, or are planning, on a fireplace put air-tight glass doors in front of it and keep the flue damper closed when the fireplace is not in use. But, beware, don't forget to open that damper before your start the fireplace. Just remember to close it again when the fireplace has cooled back down.

Many sources of heat build-up (or cooling loss) are affected by more than one form of heat transfer. Since windows and sliding glass doors suffer from both conductive and convective heat transfer, consider using high energy-efficiency Energy Star doors and windows for any building or remodeling project. As another example, while radiant heat transfer is why a home with a roof exposed to the sun gets warmer due to radiation, you can use convection to your advantage to alleviate part of the problem. Installing a heat-activated fan system in your attic will use convection to blow the heated air in your attic out through vents preventing it from transferring its heat energy, through conduction and convection, into your living space below.

If your home is in a particularly sunny location, you may want plant large deciduous trees on the south side of the home for shade from the sun in the summer. Equally, you can avoid radiant heat build-up from the sun by closing drapes and blinds on the south side of your home in the summer, yet take advantage of the sun's radiant heat transfer by keeping the drapes and blinds open during the day to allow sunlight to enter and warm your home during cooler months. Similarly, while the foliage on the deciduous tree will shade the home during summer, its lack of leaves will allow the sun's radiant heat to enter and warm your home in the winter.

If it's time to replace your heat pump or any appliance, look for Energy Star-rated appliances. Energy Star-rated appliances like clothes washers, dryers, refrigerators, dishwashers and dehumidifiers not only use less electricity; they also transfer less heat into your home through all three forms of heat transfer, conduction, convection and radiation.

You should also pay attention to small changes that offer big savings, many of which are more efficient because of lower heat transfers. Use energy-saving compact fluorescent lamp bulbs. Turn off all lights when not in use; lights generate radiant heat. Keep shrubs and other obstructions from blocking free air flow around your external heat pump unit which relies upon convection to dissipate its heat build-up. And, change your furnace filter every 3 months. A dirty filter slows down air movement reducing the effectiveness of the convection transfer your air conditioning system relies upon.

Understanding the different kinds of heat transfer and how to use that knowledge to reduce your home's energy consumption can save you a serious amount of money as well as make your home more comfortable to live in.

How Much Should You Offer for That Home

2009-06-09T10:44:00.000-07:00

When you prepare an offer to purchase a home, you already know the seller’s asking price. But what price are you going to offer for that home or piece of real estate property and how do you come up with that figure?

Determining your offer is really a 3-step process:

<1> First, look at recent sales of similar properties to come up with a "price range."

<2> Then, analyze additional data, such as the condition of the home, improvements, current market conditions, and even the circumstances of the seller. Here. your Realtor® having been in this market will have good information about many of the recent sales you're trying to compare against. The process to this point will help you settle on what you think would be a fair price to pay for the home.

<3> Finally, depending on the negotiating style of you and/or your Realtor®, you may want to adjust your "fair" price and come up with the actual price you'll put in your offer.

Comparable Sales
The first step in determining the price you are willing to offer for real estate properties is to look at the recent sales of similar homes. These are called "comparable sales." Comparable sales are recent sales of homes that compare closely to the one you are considering purchasing. Specifically, you want to compare prices of homes that are similar in square footage, number of bedrooms and bathrooms, garage size, lot size, type of construction and other amenities such as an in-groubd pool, upgraded appliances, etc.

If the home you are interested in is part of a tract of homes, then you may very likely find some exact model matches to compare against.

There are two main sources of information on comparable sales for real estate, all of which are easily accessed by your Realtor but somewhat more difficult for the general public to access. Two of the most obvious information sources are Public Records and the local Multiple Listing Service (MLS) database.

Comparable Sales in Public Records
Information on comparable sales is the public records at your County Court House. When someone buys a home the property is deeded from the seller to the buyer. In most circumstances, this deed is recorded at the local County Recorder's office which uses this data to determine the assessment of the property for tax purposes.

In some areas, the local newspaper may include recent home sales prices on their website although information you'll find there can be quite limited in terms of the amount of detail on the property itself.

Provided there have been no additions to the property since it last changed hands, the information in the public records is usually correct regarding sales price, square footage, and numbers of rooms.

Accessing the data is another matter, at least for the general public. Realtors® can generally look up this information either directly or through local title companies.

The biggest problem with public records data is that it can be several weeks to even months weeks old. Add another month or two during which the sales had been agreed to but not yet closed and you can see that public records information can be far from current, and therefore as helpful in helping you set a fair offer price, as you would like.

Comparable Sales in the Multiple Listing Service (MLS)
Much of the public is aware that the Multiple Listing Service is a private resource where Realtors® list properties available for sale and record sales and closings. Recently, the public has been able to access some of that information on sites like Realtor.com, MSN HomeAdvisor, and others. Once a property is sold and the transaction has closed, the selling price is posted to the listing in the Multiple Listing Service almost immediately. Over time, MLS has become a huge database on past sales, containing much more information on individual homes than can be gleaned from the public record. Generally, this information is only available to Realtors® who are members of the local Real Estate Board and its Multiple Listing Service. Clearly, MLS information is much more current and accurate than the information yo can get from Public Records.

The Realtor acting as your Buyer's Agent is, without a doubt, your best source of information in determining what price to offer. He or she will provide you with the right data to help determine an offer price that will get you the home you want at the best possible price.

To Sell A Home, Focus First on the Kitchen

2009-04-28T07:45:00.000-07:00

When it's time to put your Georgia home on the market, many real estate experts recommend that you focus on the kitchen first. For many potential buyers, especially the wives, the kitchen is the most important room in the home. The condition and appearance of the kitchen has the power to make or break an offer.

So, if you want your home to sell quickly at a good price, do everything you can to enhance it before you start showing the home to buyers. Remember however as you approach this task that the money you spend is a cost of selling. Don't do a complete remodelling unless the kitchen really needs it. A good Realtor, like those found on the Real Estate of Florida website can give you advice on the amount of investment you should make in your kitchen updating.

Start by creating space. You want you kitchen to look large, light and roomy. Clear the counters of all clutter. Take everything you can out of drawers and shelves and move it into storage. Remove all those magnets from the refrigerator and if the refrig looks scratched, give it a fresh coat of porcelain paint. What you want them to see is a warm, open and inviting space, not your old pots, pans and toaster.

Consider fresh paint. Paint is the most profitable improvement you can make anywhere in a home but especially in the kitchen. A fresh coat of light, neutral colored paint on your kitchen walls will make them look spotless and new. The light color will also make the room look bigger. Exactly the look you want.

Pay particular attention to the sink. If your faucet looks old and stained, or leaks or just looks dated, replace it with a new one. It will go a long way towards improving the look of the whole kitchen, for very little money.

If your counter tops look old and tired, you should consider new ones. Today you can buy corian or even granite countertops at reasonable prices. Talk to your local Home Depot or Lowe's hardware store. Remember to stick with neutral colors, nothing too flashy.

Check the stove and oven. The oven should be spotless. If the stove is a glass-top model, scrub it until there is no residue at all on it. A sparkling range looks great. A dirty one leaves the prospect wondering if the rest of the house is any better maintained. Don't let them even "go there".

Freshen up the cabinets. Replacing cabinets is expensive and seldom makes a good investment. But you can paint them, or put new, modern looking pulls on them for very little money. A fresh rub-down with a good cleaner-polish will give them a fresh look.

Check the windows. You'd be amazed how many people forget to wash the window over the sink or the sliding glass doors next to the dining area. if the trim looks dull, a fresh coat of paint there will also add sizzle.

Finally, a trick that works amazingly well. Just before prospective buyers come, bake a fresh batch of cookies in your oven. And, yes, leave the cookies out for them to sample.

In short, buyers will quickly notice any shortcomings in your kitchen, so do everything you can to freshen it up and give it a modern, open, airy and "inviting" look.

A Home Seller Can Help You Finance Your First Home

2009-04-04T11:41:00.000-07:00

If you and your family are ready now to take the leap of faith of buying your first home, but you're not sure you have enough cash stashed away, there are ways in which a home seller can assist you in buying his home. A competent Realtor can review all of your options but here are a few examples.

FHA MORTGAGE WITH SELLER FINANCED CLOSING COSTS
An FHA mortgage requires as little as 3.5% of the purchase price as a down payment. These mortgages have been available for years. Your Realtor, working with the home seller and an FHA-approved mortgage provider, can structure a mortgage loan so that the seller pays all or nearly all of your closing costs. The seller cannot assist you with the 3.5% down payment, but can pay just about everything else at your closing. In the current market environment, many home sellers are willing to participate in this type of arrangement to get their home sold.

BUY DOWNS – There are many variations of "Buy Downs," Some are permanent, where the interest rate is reduced over the full life of the loan. Others are temporary, allowing you to reduce the interest rate, and therefore your monthly payment, for the first 1 - 3 years. The most popular is what's known as a "3-2-1 Buy Down." Here's how it works. For the first year your rate is 3% below the market interest rate; the second year 2% below, and for the third year the interest rate you pay is 1% below the agreed-upon interest rate. This allows you to grow into your loan payments over 3 years. If you expect your family income to grow over that period by enough to cover the eventual cost, this may be an attractive option for you. "Buying down" your first 3 years of loan payments in this manner will cost the seller about 4.5% of the loan amount. Here is an example on the purchase of a home with a $225,000 mortgage with a fixed rate of 6.5%. The full monthly rate on this mortgage would be $1,422.15/month. Using a 3-2-1- buy down, the first year's payments would be $1,010.35, the second year's is $1,140.04, the third year's - $1,277.53, and then for the remaining 27 years, $1,422.15. The "buy down" of the first 3 years payments saved you, the buyer, over $10,000 in mortgage payments in addition to making your payments more affordable for those first 3 years.

SELLER FINANCING – Less frequently, but occasionally, there are sellers who own their home outright (no mortgage on the property) who will agree to assist you by holding your mortgage. In this case, you do not have to qualify through the normal bank financing route. In effect the seller, instead of a bank or other mortgage company, becomes your mortgage provider. Such a mortgage can be written with essentially any terms and conditions that you and the seller agree upon ranging from financing 100% of the purchase price to requiring a minimal or larger down payment, with or without a "balloon payment" at some point in the future, and for a term of 10, 15, 25 or 30 years.

Such private lenders frequently charge a higher interest rate and may want to use this approach to get the highest possible price for their property so you need to deal with a competent Realtor who can negotiate your way through this option for you. But, if cash on hand is the problem you are dealing, this approach may be an option.

The point of this discussion is this. If you have a decent credit rating (FICO score) and you're ready to buy your first home, don't be scared off because you don't think you have enough saved up yet. The price of homes and the interest rates available are as low right now as they have been in a long time. Meet and discuss your options with a competent Realtor like those listed in this directory of Georgia Real Estate professionals. You may be closer to your dream of home ownership than you have dared to hope.

If It's Time to Sell

2009-03-29T12:56:00.000-07:00

When listing your Georgia home for sale, ask your Realtor® for the average sales time for homes in your particular neighborhood. It does vary from one neighborhood to the next. The question then bcomes, "What can be done to speed up the time it takes to attract a buyer ?" And the answer is "plenty." There are really 3 main factors that affect the actual home marketing time :

price
condition
terms

Price is probably the single biggest factor. If the condition of your home is equal to others currently for sale in your neighborhood, and you're offering comparable terms, you can expect that it will sell in about the average amount of time your Realtor® suggested. If you want or need it sell it more quickly, you may want to consider adjusting your price downward slightly to present "a better value" to prospective buyers. Atlanta and marietta real estate buyers do comparison shop and if they will perceive greater value in your home, even it is priced just slightly below the price suggested by a Comparative Market Analysis, they'll be tempted to make an offer.

Terms offered are another factor which can be adjusted to attract buyers. If your home is priced at "market value", you may consider offering to pay a portion of the buyer's closing costs, particu;larly in light of the terms allowed under the Stimulus Package home buyer incentive program. By doing so, you reduce the amount of down payment a buyer will need and attract more first-time buyers. You may offer to include some of the major appliances if they are in excellent condition. Here again, you'll be assisting those first-time buyers who might otherwise have to cover the costs of buying new appliances for their first home. Your Realtor® can suggest other "terms" which may attract buyers in your specific locale or even a whole new group of potential buyers.

The Condition of your home alone can sometimes prompt a faster buying decision from an anxious buyer, concerned that your home or condo will be "snapped up" because it is so desirable. Consider investing in attractive and currently popular upgrades and cosmetic improvements before putting it on the market. A good place to start is its "curb appeal" -- a fresh coat of paint, a flawless roof and some neat landscaping can do wonders.

Inside your home, the biggest condition-change payoff is often in the kitchen and baths. Consider replacing "tired looking" kitchen appliances, flooring and countertops. De-clutter your coutertops by placing appliances in closets or cabinets making the kitchen seem larger. If magnets have damaged the front of your refrigerator, apply a fresh coat of porcelein paint to dress it up.

Make your bathrooms more attractive. Above all, scrub the tub and shower stall until they sparkle. Again, de-cluttering is important. if the room looks dated, consider adding a new sink, faucets and countertop or maybe a pedestal sink in a half-bath. If the flooring isn't in perfect condiiton, add modern tile.

A home that sparkles displays your pride of ownership and that alone can instill confidence in a propsective buyer and trigger an quicker sale.

The key, to a shorter selling time on any real estate property is to offer a unique set of benefits to your prospective buyers. While Price, Condition and Terms are not the only factors, they are surely among the most important factors. Ask your Realtor® for advice if a quicker than average sale is your goal.

Florida Homes are Becoming Affordable Again

2009-03-17T09:52:00.001-07:00

While existing home sales in other parts of the country have fallen for months and months, the Saasota - Bradenton real estate market was the fourth highest selling market in Florida and a stand-out by any comparison nationwide.

Home sales for January, 2009 rose by 4% over January, 2008. And why did this happen ? In part, it happened because the median price of homes in The sarasoyta- Bradenton market fell drramatically. The median price in this market has fallen to $144,800 from $246,300 a year ago, the lowest it has been since November, 2001.

The decrease in home prices has meant that home ownership has once again become affordable for the average family and thus more families, young and older, are beginning to look at homes in the Bradenton Florida area, according to Brian Ward, Bradenton golf course homes specialist. There are currently about 2,650 existing homes for sale and another 1,800 homes working their way through foreclosure in Bradenton so there are plenty of homes to consider.

Once people start looking at owning a first or second home in Florida, they also learn something else very appealing. Mortgage interest rates are at all-time lows. QuickenLoans.com is currently quoting a 30-year fixed rate mortgage at 4.75% (APR 4.967%) and a 15-year fixed rate mortgage at 4.25% (APR 4.622%).

For those with more limited down payment funds, an FHA Express 30-year fixed rate mortgage can be had for 5.00% (APR 5.185%). With an FHA Express loan, your down payment can be as low as 3.5% of the price of the home and first-time buyers, defined as anyone who has not owned a home in the past 3 years, are eligible for an income tax credit of 10% of the purchase prce of the home, up to a maximum of $8000.

If you are a young family or single professional who has been wishing homes in sunny Florida area would become more affordable, it's time to start looking not only in Sarasota Bradenton but all over the state of Florida.

If you are a senior looking for a warmer clime in which to retire, or maybe just a seasonal golf course or waterfront home or condo to escape the harsh northern winters, Florida may be the right place and this may be the right time to make your move to Florida. For the past couple years, seniors who have opted to move from the Northeast to the Carolinas and Tennessee are realizing that while the winders are shorter than in New England or New York, they can still be cold, very cold.

If you would like more information, you may want to contact Mary Bernas, Longboat Key real estate expert. If yourintgerest is in Siesta Key, contact Judie Berger, Siesta Key real estate expert, or Andree Huffine, a Sarasota real estate professional with years of experience.

It would be their pleasure to be of service to you by either just answering your questions or showing you the many fine home and condo on the many golf course and waterfront communities here, all of which offer the delightful Florida SunCoast lifestyle.

Getting Tired of the Snow, Move South to Florida Now

2009-03-05T13:31:00.000-08:00

In spite of the snow and ice you've been experiencing lately in the Atlanta area, there is an area you would love further South where it never snows and very seldom gets even close to freezing cold. And, to make it even more attractive, home prices are suddenly becoming much more affordable. Two areas that come to mind are Tampa Bay and the Sarasota - Bradenton area of Florida.

Bill Geller, President of the Sarasota Association of Realtors, is reported as having said that "even during downturns in the economy, opportunities exist for savvy buyers." The Southwest Florida real estate maket extending from Pasco County and Hillsborough County in Tampa Bay to Sarasota and Manatee County just South of Tampa Bay include just about every type and size of residence and neighborhood one could want. These areas, including the island keys offers waterfront homes and condos, golf course communities of wonderful new and existing homes as well as exciting places to live downtown in the heart of all the social, arts and cultural action.

There is no denying that over the past few years, home prices in the Sun Coast of Florida had risen to a point where homes were becoming unaffordable to many people who eiher already lived here or who would like to move to our Sun Coast of Florida area. But as of January, 2009, the median home price for a single family home in the Sarasota market, for example, fell below $150,000, meaning homes in our area are once again becoming affordable for middle-class working families.

The recently enacted American Recovery and Reinvestment Act (known as the "stimulus package") includes a $75 billion Housing Support and Foreclosure Prevention program and also provides a tax credit of $8,000 for eligible first-time home buyers. These two programs, combined with historically low mortgage interest rates, are getting people interested in buying homes again.

Sarasota and Tampa Bay are both perfectly situated with good jobs markets, beautiful weather, a plethora of arts and cultural attractions as well as many 80 golf courses, and now once again, affordable homes and condos.

Isn't it time you got serious about buying your dream home here in Sunny Tampa Bay or Sarasota Florida. There are several really competent realtors we can recommend. In Tampa Bay, we recommend you contact Cheryl Stimac, Tampa Realtor. In Sarasota, you'll find Bob Henley, Sarasota and Venice FL specialist, and
Judie Berger, Siesta Key expert very hepful. If you are an avid golfer and looking for a golf course community, Rich Stover, Lakewood Ranch FL realtor and Dick Plumb, Bradenton area realtor can help you find exactly what you're looking for on a golf course.

If waterfront living, fishing, boating or sailing are more your cup of tea, then you need to contact Mary Bernas, Longboat Key luxury homes specialist or Connie Belmont, Sarasota waterfront condos expert.

Want an Accredited Buyer Representative (ABR) as your Realtor? In that case, in Sarasota or Bradenton, we suggest you contact Brian Ward, Sarasota REMAX Realtor and holder of the ABR designation.

You may want to contact one of these fine Tampa Bay or Sarasota realtors and get started moving to our sunny Florida paadise. It just doesn't get any better than the Tampa Bay - Sarasota Suncoast.

Effect of the Obama Election on Georgia Real Estate

2008-11-21T10:58:00.000-08:00

The election of Senator Barack Obama as president of the United States, along with gains by Democrats in the U.S. House of Representatives and Senate leads to the question, "How will the policies of the new administration affect the real estate housing industry, especially here in Georgia?"

According to the National Association of Realtors (NAR) President, Chales McMillan, “Realtors® are excited by this historic election and are ready to work with our new president and the new Congress on issues that are at the heart of the American dream of home ownership.”

Availability of affordable mortgage financing and small business health insurance coverage are at the top of NAR's and local Georgia realtor's priorities. Fortunately, those two issues are also priorities of both of our major political parties.

REFORM OF FANNIE MAE & FREDDIE MAC
NAR analysts expect the Obama Administration and the new Congress to focus first and foremost on regulatory reform of the country’s financial services industry. Lawmakers will be looking at what went wrong and what needs to change to ensure proper regulation of mortgage and other asset-backed securities.

Part of this review will focus on potential changes to the secondary mortgage market companies, specifically Fannie Mae and Freddie Mac. They are both currently under government conservatorship pending resolution of this issue. Among the options: folding them completely into the federal government, making them 100% private, or keeping them as public-private hybrids as they currently are.

ANOTHER STIMULUS PACKAGE
The Obama administration and Congress are expected to push for another economic stimulus package, particularly if the outgoing 110th Congress balks at passing one. Hopefully this stimulus package will do more to stimulate jobs and therefore the affordability of housing, than the original package. NAR is also pushing Congress to make the conforming high-cost loan limit of $729,750 permanent and to eliminate the repayment requirement in the currrent first-time homebuyer tax credit, both of which would stimulate the housing market.

FORECLOSURE ASSISTANCE & AFFORDABLE MORTGAGE FINANCING
NAR also expects the Obama administration and Congress to assure that Wall Street banks that are being "rescued" use some of that $700 billion to slow down the rate of home foreclosures and make home mortgage financing more available at reasonable rates. Many Georgia communities are witnessing painful downward pricing pressure on homes for sale inventories due to the huge overhang of housing units in or close to foreclosure.

HEALTH INSURANCE REFORM
Looking further ahead, Congress, with the leadership of our new President, is expected to also take on comprehensive health insurance reform, an issue that impacts real estate professions as well as all small businesses. Making small business health insurance more affordable would be a great benefit to Realtors as well as to the millions of other small businesses in the U.S. And anything tht makes small businesses more profitable benefits the real estate industry as well.

While in the short-term, everything is focused on turning the U.S. and global economies around, looking forward to the new Obama administration, there seem to be as many opportunities as challenges. The nomination today of Tim Geithner to head the Treasury Department is a good omen. He is a talented and experienced expert on the U.S. and global financial world.

Because many of the issues facing the real estate industry are supported by both the Democratic and Repulican parties, it seems as though we have a good chance for improvement in the real estate market. And, it is certainly true that the real estate industry, especially here in Georgia, can use all the help it can get and the sooner the better.

If, as things move along, you have questions about buying or selling a home or condo in the Atlanta or Marietta GA area, feel free to call upon a professional Realtor like Mike Lazazzara, Atlanta Realtor.

Come Visit the Georgia Aquarium

2008-11-04T11:14:00.000-08:00

Come Visit the Georgia Aquarium. With more than eight million gallons of fresh and marine water and more aquatic life than found in any other aquarium, you are sure to see things you’ve never seen before!

The Georgia Aquarium promises wonder and excitement around every corner. The Aquarium is open 365 days a year. Come explore our many and varied areas that are attractive to both adults and children.

The Georgia Explorer gallery is a highly interactive gallery with touch pools full of horseshoe crabs, sea stars, stingrays and shrimp.

Several large habitats feature a loggerhead sea turtle and the fish of Gray’s Reef – an underwater area off the Georgia coast designated a National Marine Sanctuary.

Whales live right off the Georgia coast! This gallery will connect you with right whales, which are one of the most endangered mammals on the planet.

The Georgia Aquarium also offers an exciting and intriguing environment for special events. The Oceans Ballroom features two spectacular aquarium viewing windows into aquatic habitats for your function.

With so much to see and do, you’ll want to come back again and again.

This is only one of the many attractions I'd be happy to show you in our area. Come learn more at my Atlanta Georgia Real Estate website.

Welcome to the Marietta Farmer's Market

2008-10-02T11:48:00.000-07:00

The Marietta Square Farmers Market just completed it's most succesful year ever. While it just closed, it will re-open next year on May 2, 2009 and be located on the Historic Marietta Square on North Park Square, between Shillings Restaurant and The Strand Theater.

The Marietta Farmer's Market offers fresh vegetable and muchh more, most of which is grown within 10 miles of the market. With about 48 - 50 vendors, customers have lots to choose from including heirloom tomatoes, fruits and vegetables, like squashes that are rarely available from the grocery store. The Farmers Market also offers staples like potatoes, onions, tomatoes, squash, beans, flower arrangements, local honey, herbal soaps, whole grain breads, fudge, fresh pies, as well as jellies jams and preserves.

Customers can also take home many live garden and herb plants and fresh-squeezed lemonade. Reportedly, 75% of the produce available at the market is grown from within 10 miles, and the rest within 50 miles.

If you visit Marietta, the Farmer's Market is certainly worth a stop. It is open every Saturday morning from May through August from 9AM until noon. If you live in the Marietta GA area, you shouldn't miss this outstanding weekly example of both home-grown produce and Georgia hospitality.

For more information on homes and condos available in the Marietta Georgia area near the Farmer's Market, you may wish to visit the website of Mike Lazazzara, your Marietta real estate expert.

Ways to Reduce your Home's Carbon Footprint

2008-09-03T12:18:00.001-07:00

I found this really great article on a Sarasota florida blog and wanted to provide you with a link to it. I think it is just as applicable to our Georgia homes as it is to Florida residents.

It's at Sarasota & Manatee County Florida real estate news: 8 Ways to Reduce Your Carbon Footprint

Home Prices Are Nearing the Bottom

2008-08-21T14:17:00.000-07:00

Here is an interesting piece of real estate news from former Federal Reserve Chairman Alan Greenspan. He predicts that the United States home prices will stabilize in the first half of 2009.

Home prices in the U.S. are likely to start to stabilize or touch bottom sometime in the first half of 2009," he said in an interview with the Wall Street Journal, reported on the newspaper's website recently.

Greenspan also said, "An end to the decline in home prices," he explained, "matters not only to American homeowners but is a necessary condition for an end to the current global financial crisis."

"Stable home prices will clarify the level of equity in homes, the ultimate collateral support for much of the financial world's" he said. We won't really know the market value of the asset side of the banking system's balance sheet, and hence the banks' capital strength until then according to Greenspan.

Now is the right time to start looking for the home you've been wanting to move up to. You may not hit the exact "bottom" of the market, but we know we're not far away from it right now. For information on the metro Atlanta - Mareitta Georgia real estate market, visit my Georgia Real Estate website or E-Mail me today.

Mortgage Rates Drop for Second Week in a Row

2008-08-06T13:23:00.000-07:00

Interest rates on 30-year fixed mortgages fell for the second week in a row on increased speculation that the Federal Reserve would not raise interest rates before the end of the year.

30-year fixed-rate mortgages averaged 6.26% plus an average 0.6 points in the week ending Thursday, down from 6.37% last week. Last year at this time, the 30-year loan averaged 6.73%.

15-year fixed rate mortgages this week averaged 5.78% plus an average 0.6 points, down from last week when it averaged 5.91%. A year ago at this time, the 15-year fixed rate mortgage averaged 6.38%.

Five-year adjustable-rate mortgages (ARMs) averaged 5.80% this week, plus an average 0.6 points, down from last week's average of 5.82%. A year ago, the 5-year ARM averaged 6.35%.

One-year Treasury-indexed ARMs averaged 5.10% this week with an average 0.6 of a point, down from last week when it averaged 5.17%. At this time last year, the 1-year ARM averaged 5.72%.

What Factors Affect How Long It'll Take to Sell A Home

2008-08-03T11:41:00.000-07:00

Selling a home is not as simple a task as many seem to think it is. If you start out at too high a price, your home will become "stale" on the market and people will just stop looking at it -- even after you've come to your senses and reduced the price to a realistic level. On the other hand, price it too low and you may give away a big chunk of the equity you built up while you lived in the home. This is not a task for amateurs.

You need to conduct this house selling task with all the information available to you to avoid either making the task too long and too painful or by making a costly mistake.

When listing your home for sale, ask your licensed Realtor® for the average sale time for homes in your neighborhood. Let's say the average for your area is 120 days. What can be done to speed up the time it takes to attract a buyer ? The answer is "plenty." There are really 3 main factors that affect the actual marketing time on a home:

price
condition
terms

Price is probably the biggest factor. If the condition of your home is equal to others currently for sale in your area, and you're offering comparable terms, you can expect that it will sell in about the average amount of time your Realtor® tells you. If you want or need it sell it more quickly, you should consider adjusting your price downward slightly to present buyers with "a better value". Buyers do comparison shop before making a decision and they will perceive greater value in your home if it is priced slightly below the price suggested by a Comparative Market Analysis prepared by your Realtor.

Terms offered are another factor which can be adjusted to attract buyers. If your home is priced at its "market value", consider offering to pay a portion of the buyer's closing costs. Another option may be to assure it will qualify for FHA or VA financing, even if that requires you to make minor changes or improvements. By doing so, you will reduce the amount of down payment a buyer needs and attract more first-time buyers. Your Realtor can suggest other "terms" which may also help attract buyers in your specific locale.

The Condition of your home alone can sometimes prompt a fast buying decision from an anxious prospective buyer, concerned that it may be "snapped up" because it is so desirable. Consider investing in attractive and currently popular upgrades and cosmetic improvements before putting it on the market. A good place to start is the outside; its "curb appeal" -- a fresh coat of paint, a flawless roof and some neat landscaping can do wonders.

Inside your home, the biggest payoff is often in the kitchen and baths. Consider replacing "tired looking" kitchen appliances, flooring and countertops. Make the baths extra attractive with modern wallpaper, perhaps new countertops or tile floors. Scrub the tub and shower stall until they sparkle. A home that sparkles displays the previous owner's pride of ownership. That alone can instill confidence in a prospsective buyer and trigger a quicker sale.

The key, then, to a shorter selling time on your home is to offer a unique set of benefits to your prospective buyers. While Price, Condition and Terms are not the only factors, they are surely among the most important factors. Ask your Realtor® for advice if a quicker than average sale is your goal.

Should I Use a Realtor to Buy A Home

2008-07-23T14:36:00.000-07:00

A licensed real estate agent, a Realtor®, can and will save you time, effort and money in your search for the right home. Real estate professionals have access to home buying tools, familiarity with the local real estate market, as well as the negotiating skills and experience that the average home buyer does not have.

The real estate agent's role is to guide you through the home buying process and help you find the home that best suits your needs in an affordable price range for your situation. Real estate agents aren't absolutely necessary in every real estate transaction, but they can be very beneficial, especially for first-time home buyers in:

Helping you determine how much home you can afford.

Helping you get pre-approved for the mortgage you'll need.

helping you find a neighborhood that suits your lifestyle and your family

Finding the home that most closely meets your needs and desires

Researching property values in your chosen area so you make the "right offer price"

Negotiating the final price and getting the proper contract document signed.

Understanding the myriad paperwork and legal requirements

Assisting you in selecting a qualified home inspector, if needed.

Helping you understand the offers a builder of new homes might offer and advising you on
which ones may or may not "add value" to the home when its time to sell it.

Coordinating the escrow and closing process.

Providing advice to you after your home purchase on all sorts of home-ownership topics.

Before you start looking for an Atlanta Georgia home, then, take the time to find a qualified Atlanta Georgia real estate agent; a Realtor® that you feel comfortable dealing with and make use of his or her skills to help you make the several important home buying decisions based upon facts rather than emotion.

Welcome to Atlanta Georgia

2008-07-20T13:32:00.000-07:00

Welcome to Atlanta, Georgia. The attractions and amenities of this fair city are known the world over. Atlanta is known for its parks, sports teams, shopping and entertainment venues, its art and history museums and plentiful golf courses as well as plentiful job opportunities. The dozens upon dozens of amenities offered by Atlanta range from the Atlanta Botanical Garden the Callanwolde Fine Arts Center and the APEX Museum to venues like Centennial Olympic Park, the Martin Luther King Jr. Center.

The many public parks of Atlanta are popular places for residents and visitors alike to gather and enjoy our warm climate and friendly people. Among the most popular are Grant Park and Stone Mountain Park.

For sports fans, Atlanta offers eveything from baseball, basketball and football to hockey and arena football all in exceptional settings.

Atlanta is also home to an expansive set of academic options including 17 colleges and including, of course, the world famous Georgia Tech and Emory University.

If you would like to know more about Atlanta Georgia, I invite you to visit this Atlanta Georgia webpage on my Atlanta Georgia real estate website.

Welcome to Marietta Georgia

2008-07-20T13:18:00.001-07:00

Welcome to Marietta Gerogia, where residents are neighbors and neighbors are friends. Recognized regionally and nationally for its high-tech operations, Marietta offers big-city opportunities with small-town charm. Mariettans appreciate their rich past and are excited about their bright future.

Marietta's backdrop is beautiful Kennesaw Mountain National Battlefield and Park. Veterans from all U. S. Wars beginning with the War Between the States are buried in the downtown National Cemetery - the only National Cemetery in metro Atlanta.

For golfers, nestled among rolling hills and tall pines, and just a stone's throw from the Historic Marietta Square, City Club Marietta offers golfers the flavor of a mountain course. While offering spectacular vistas, City Club Marietta requires excellent shot-making and accurate putting on bentgrass greens.

Five Marietta neighborhoods and several public and private buildings are on the National Historic Register. From Civil War battlefields to museums and amusement parks, Marietta is host to a number of attractions geared to entertain a multitude of interests. Most of the attractions in Marietta are open year-round and many are free.

If you are interested in learning more about Marietta and its many amenities and attractions, visit this Marietta Georgia webpage.