Athens Georgia Real Estate Stuff (and then some)

This Blog has Moved

2009-09-15T13:59:00.000-07:00

This blog has been move to the Living in Athens Georgia blog. Just click on over to join us.

Get Yourself Pampered This Week, and, The Pamperer Will Support a Great Cause

2009-09-15T07:39:00.000-07:00

Get yourself pampered this week with a treatment at Re'Vive Salon and Spa. In order to help the Athens Area Association of Realtors reach it's over $70,000 goal, Re'Vive has offerred to share 30% of the proceeds it receives from patrons this week.

There are only two things you need to do in order to make this happen:

Make an appointment at Re'Vive Salon and Spa for one of their spa treatments between today, Sep 14 and Friday, Sep. 19.
Mention the AAAR 3 Day Breast Cancer Walk

and voila! Re'Vive will pledge 30% to this goal.

Details can be found in the flyer below:

Marty Winkler - Jazz, Blues & Folk Singer - Free Concert at the Athens-Clarke County Library, 3 P.M. Sunday Sep. 6

2009-09-04T09:43:00.000-07:00

Marty Winkler, along with her partner Michael C. Steele, will be giving a free concert at the Athens-Clarke County Library on Sunday, Sep. 6. Marty and Michael will be presenting their original work as well as their versions of other artists music.

You can get a flavor of what to expect at the concert by visiting Marty's MySpace Music page. She will also be appearing in downtown Athens at the Melting Point, Saturday evening, Sep. 5. along with Jazz Enigma and Holly Belle.

The concert will be in the auditorium of the library and is sponsored by the Friends of the Athens-Clarke County Library.

Dine Out in Athens or Watkinsville GA and Help Find a Cure for Breast Cancer!

2009-07-30T14:07:00.000-07:00

The Athens Area Association of Realtors (AAAR) is sponsoring a team for that 3 Day Breast Cancer Walk. AAAR has set a goal of raising $69,000.00 this year.

To help reach that goal, some Athens area restaurants have agreed to donate part of their proceeds from specific days and meals. If you are considering dining out on those days, please consider these restaurants:

The Daily Neighborhood Deli - Friday, July 31st, dinner only - reservations suggested

The Hilltop Grille - August 3 - 9, all meals

The Daily Neighborhood Deli - August 14 - dinner only

The Daily Neighborhood Deli is located at 2791 Monroe Highway, Watkinsville.

The menu for Fri, Jul 31 will be::

Option 1: Traditional spinach salad: bacon, red onion, hard boiled egg, creamy housemade dressing.

Seared scallops, lemon risotto, asparagus, pine nuts, balsamic gastrique. $16.95

Option 2: Antipasti, pesto ciabatta

Orecchieete, sausage, broccoli rabe, parmesan, arrabbiata sauce $15.95

Dinner is served from 5:30 - 8:30 PM

They would appreciate it if you would call and let them know that you are coming, but not absolutely necessary. Their phone number is 678-661-0303.

So, go out and have a great meal while helping a great cause!

Can You Use $8000 More for Your Down Payment?

2009-06-02T10:14:00.000-07:00

I know that I can. Unfortunately, I do not qualify. But, if you are a first time home buyer, someone who hasn't owned your own home for at least 3 years, you just might be able to take advantage of this.

As of Friday, May 29, 2009, H.U.D. has approved the monetization of the $8000 tax credit. What that simply means is that the tax credit, however much your home purchase qualifies for, can be used for part of your down payment or closing costs. No, the government will not give you a check that you can take to closing, but, lenders are now free to consider this and apply it to your down payment or closing costs.

How this will be done has not yet been determined, but, it will most likely be in the form of a short term "bridge" loan that will be payable at the time you receive your tax credit. I have not seen any programs announced, but expect that within a few days the various banks and other lenders will have packages set up.

What does that mean to you? It will mean that you can possibly afford a more expensive home, or, that you can have lower house payments if you apply your credit to the down payment or closing costs.

Is it a wise thing to do, or the best thing to do for you? That, I cannot tell you. I don't know your situation, and, I am also not a financial adviser. You will need to work that out for yourself, or with the help of a qualified financial adviser.

If you would like more information on the First Time Home Buyer's Tax Credit, or, if you are interested in buying or selling your home or land in Athens-Clarke County, Jackson, Barrow, Madison, Oglethorpe and Oconee Counties, give me a call at 706-207-5290. Or, you can click here to email me with any inquiries. To search for homes and land in and around Athens, GA please visit my website, The Athens Real Estate Page.

So You Want to Sell Your Home - Lucky Part 13 - What's Cooking in the Kitchen?

2009-05-19T11:48:00.000-07:00

A few posts ago I provided a list of how buyers prioritize the areas of the home they are viewing. After the curb appeal and the entryway, the most important area is the kitchen.

Today's kitchen is not longer the sole domain of the woman. More and more men are spending time in the kitchen doing the cooking. In my home I prepare most of the meals, although I do admit, my wife does most of the cleaning. Men don't just grill anymore, we bake, we steam, we souffle, we cook!

What does that mean? It means the kitchen now has to appeal functionally and attractive to buyers of both genders. The counters have to appear spacious, the cabinets accessible with a lot of storage, the lighting bright, and overall, movement between prep area to cooking area to serving area clear and uncluttered.

So what are the steps to making your kitchen appealing?

Clean your kitchen until it shines - every square inch of it, paying special attention to the stove, oven, sink, counters, floor and refrigerator.
Take care of any maintenance issues, fix your leaky faucets, replace faulty burners, replace burned out light bulbs. Make sure your drawers and cabinets open easily and without squeaks. Replace broken or worn drawer and cabinet pulls. Make sure any exhaust fans, as well as built in appliances, such as disposal, are all in working order.
Empty the kitchen counter surfaces of all but the most often used and needed items. The more open counter space the more appealing the kitchen.
Empty your cabinets and only return items that you use regularly. If you have place settings for 12 but only use 4, put at least 6 in storage. Put seasonal items, like Thanksgiving platters into storage until needed. Get rid of items that you don't use (like that second toaster) or put them into storage.
Clean out your refrigerator and pantry. Get rid of old out dated foods. In the refrigerator, get rid of any fuzzy "science projects". Make sure the shelves and surfaces are clean. Keep only enough food for a couple of days in both the refrigerator and the pantry. Keep an open box of baking soda in an inconspicuous place in your refrigerator. And don't forget to take all those post its off of the refrigerator door.
Wash your dishes after every meal. Ok, this one might be tough, but dirty dishes in the sink detracts from the perception of the kitchen. Even if you have a dishwasher, rinse the dishes well before placing them inside of it. You don't want any food smells when someone opens the dishwasher door. Wash your dishes daily in the dishwasher.
Clean out under the sink. Get rid of cleaners, chemicals and everything else that you store under the sink but don't use regularly. You don't want to remind anyone that your gleaming kitchen takes work to keep it that way. Make sure that you clean under there also.
Paint your walls. Even if it means removing wallpaper. Wallpaper is an even more personal selection than paint and if a buyer sees that he or she will need to remove wallpaper it may tilt the balance against your kitchen. Use a neutral color.
Display flowers and fresh fruit, but don't over do it. And the key word is fresh, for both the flowers and the fruit.
Oh-Oh that smell. Be careful what you cook while your home is for sale. Many foods leave odors, even if you have gotten used to them. If you like bacon, you may be better off getting it somewhere like Denny's. Bacon and other foods can leave lingering aromas that can and do turn some people off.
You can feed Fido but don't leave any evidence of it. Put away the water and food dishes for your pets. They make both a trip and spill hazard.

Sounds like a lot of work, doesn't it? But it really isn't and, you will like like the results when your home sells faster because you have taken care to present the most important (to the buyer) room in house in the best manner possible. Best of luck.

For information on buying or selling your home in Athens GA and the surrounding areas, call me at 706-207-5290 or click here to email me. You can visit my website, The Athens Real Estate Page to search for homes and land in and around Athens.

Thinking of Buying a Foreclosure?

2009-04-30T09:19:00.000-07:00

Well here are some things to think about!

You may have heard on TV or radio, from your friends, from newspapers, magazines or the internet that there are some really good bargains out there in the foreclosure market. In fact, you see some ads about people purchasing homes for 10¢ on the dollar. They are even willing to sell you the information on where you can buy foreclosed homes and properties. But there are some things that they don’t tell you. Here are some of them:

You don’t have to pay for a list of foreclosures in your area – you can get this information for free in several ways. You can go to each banks foreclosure sight on the internet. Or, you can go to a Realtor® and he or she will do the work for you.

You get what you pay for – you may pay only 10¢ on the dollar but that is what the property is worth in today’s market. You get for that price because nobody would pay more.

Most foreclosed upon properties are distressed – In one form or another almost every foreclosed property is distressed, or has problems. They usually need work and many do not qualify for an FHA loan without significant repairs made. Sometimes it might only be repainting, carpet replacement and appliances replaced. Very often there is extensive work required to make the home live-able.

Cash is king – In the foreclosure market the cash buyer typically has the advantage. The bank or other owner of the foreclosed property will usually accept a cash offer over one that needs financing or appraisal approval.

Don’t just get pre-approved, get pre-committed – After cash, the purchase that has pre-committed funds is next in the pecking order. This means that if a loan is required, the lender has already committed to lending the purchaser the money. The only contingency is that the property meets the appraisal requirements. This is beyond pre-approval, where a credit check has been performed and the lender has determined that the client may be eligible to get a loan. And, it is certainly way beyond a pre-qualification which is not much more than recognition that the buyer is still breathing.

Don’t expect a quick response to your offer – most banks will wait for some time before responding to an offer. They are hoping for multiple offers to come in and will wait for that to happen. When they get multiple offers they will then issue a call for “highest and best” offer and will give a deadline for those to be received. Even if there is only one offer they will wait and then either negotiate or ask for highest and best.

You may have to offer, or pay, more than the asking price – Yep; this is a big surprise for many people. You may have to offer more than the asking price, especially when there are multiple offers on the same foreclosed property.

You will get special conditions from the bank before the offer is accepted – Most lenders of foreclosed properties will have special conditions or stipulations for the sale. This may require using a specific closing attorney that might be hundreds of miles away. It will almost always include a shortened due diligence period, the period you will need to perform all inspections, of the property, etc. They may even want you to be approved by a specific lender, although you won’t necessarily have to use that lender. The lender may, or may not, negotiate these conditions. So, if you have a particular attorney you would like to use to close with, you can attempt to negotiate that but don’t expect to have it happen.

Get your financing commitment before you start looking – Get that commitment for funding before you even start looking at a foreclosure. If you find one that you like, very often others will also like it. The best ones don’t stay on the market very long. Get that pre-commitment so that you don’t lose out on an opportunity by not being ready with all your financing requirements taken care of.

You can get renovation funds included in your loan – There is more likely than not going to be problems with a foreclosed home. It is possible to get a loan that will include funding to make any repairs/renovations required to bring the property up to standards to meet the loan eligibility. You can even add that deck, granite countertops, whatever renovations that you would like to make, if you qualify. Check with your lender on the programs available.

Work with someone familiar with the process – This is a strong recommendation. Work with a Realtor® that will guide you through the entire process and know the best ways to get you the property you want, whether for your own home or for an investment.

Armed with the above list, go ahead and look for that foreclosed property. You might not find your dream home, but you might very well find the home that you can make into the home of your dreams. And above all, be patient. You might not, probably won’t, win the first one, but keep it up, it will happen.

Note: This is not to be construed as financial advice or legal advice. Please check with an attorney for any legal recommendations and with a qualified lender for advice on getting pre-committed.

For information on buying or selling real estate in Athens and the surrounding counties, call me at 706-207-5290 or click here to email me. If you would like to search for properties available in this same area, please click to follow the link to The Athens Real Estate Page.

Thinking of Buying a Home - How Much Home Can You Afford

2009-04-21T13:10:00.000-07:00

If you are thinking of buying a home you really need to understand how much home that you can afford. Not how high a payment that you are comfortable with, but how high a payment that your lender and loan type/underwriter thinks that you can afford. And, you should find this out before you look for a new home. You don't want to waste your time, or your buying agents time, looking at homes that are out of your price range.

So how can you get an idea of how much home that you can afford? It's a two step process. The first step is determining what your ratios are. But, just what are these ratios, you might ask.

The first is called the Front End Ratio. That is merely how much your cost of housing will be compared to your gross income. Note: it is not how much your loan payment will be but the total cost of housing which includes Principle, Interest (both of which are our loan paymet), Taxes and Insurance. These are commonly referred to as PITI. Gross Income is your total monthly income from all sources: wages, alimony, interest, dividends, social security, etc. Your monthly income is figured by looking at your previous 12 months income and dividing by 12.

Front-End Ratio = (Monthly Housing Expense / Gross Monthly Income) x 100

The second is call the Back End Ratio, or your Debt-to-Income Ratio. This is the total of all your monthly debt payments, including PITI, compared to your gross monthly income. This includes all debts: credit cards, student loans, alimony, child support, gym memberships, etc.

Back-End Ratio = (Total Monthly Debt Expense / Gross Monthly Income) x 100

Lenders use these ratios to calculate risk, or the likelihood of the borrower being able to make their payment on time. The higher the ratio, the greater the risk.

As mentioned earlier, various loan types can and do have different ratio requirements. Below is a list of current ratios. Note: These figures have changed recently and are subject to change at any time under current credit conditions.

FHA & VA - 31 Front End /43 Back End Ratio
USDA Rural Development - 29 Front End / 41 Back End
Conventional - 33 Front End / 45 Back End

Using these figures, if you have a monthly income of $3000.00, under FHA and VA, your total monthly housing expense can be as high as $930.00 and your total debt to income can be as high as $1290.00 a month. For Rural Development, this would be a bit lower, for Conventional, a bit higher. Depending upon where you are looking, your PITI will vary based upon tax rate and insurance. In the Athens Area, for a median home sale of $170,000 taxes could run $160. month and insurance $40 month for a total of $200.00. This means you can afford a home with a loan amount of $730/month. (Note: Taxes and insurance will vary. Those figures are only approximate and will be dependant upon assessment and any exemptions you may be eligible for.)

Lenders usually place more emphasis on back end rations than front end.

The second step is to determine how much home your loan payment will cover. Use the chart below to determine your monthly principal and interest payments at various interest rates for either a 15- or 30-year term.

Interest Rate Factors Per $1000

Interest Rate	15 Yr. Term	30 Yr. Term	Interest Rate	15 Yr. Term	30 Yr. Term
4%	$7.40	$4.77	8%	$9.56	$7.34
4.25%	$7.52	$4.92	8.25%	$9.70	$7.51
4.5%	$7.65	$5.07	8.5%	$9.85	$7.69
4.75%	$7.78	$5.22	8.75%	$9.99	$7.87
5%	$7.91	$5.37	9%	$10.14	$8.05
5.25%	$8.04	$5.52	9.25%	$10.29	$8.23
5.5%	$8.17	$5.68	9.5%	$10.44	$8.41
5.75%	$8.30	$5.84	9.75%	$10.59	$8.59
6%	$8.44	$6.00	10%	$10.75	$8.77
6.25%	$8.57	$6.16	10.25%	$10.90	$8.96
6.5%	$8.71	$6.32	10.55%	$11.05	$9.15
6.75%	$8.85	$6.48	10.75%	$11.21	$9.33
7%	$8.99	$6.65	11.25%	$111.36	$9.52
7.25%	$9.13	$6.82	11.5%	$11.52	$9.71
7.5%	$9.27	$6.99	11.75%	$11.68	$9.90
7.75%	$9.41	$7.16	12%	$11.84	$10.09

1. Find the appropriate interest rate from the chart above.
2. Look across the column to the appropriate term to determine your interest rate factor.
3. Multiply the interest rate factor by your loan amount in $1,000s.
4. Compare that to the payment you reached by applying the ratios.

For instance, if you assume a 30 year loan at 5.5% for a $170,000 home, multiply $5.68 x 170 (the number of thousands in 170,000). Your payment would be $965.60, much higher than you can qualify for. To find out the approximate loan amount, divide $730 by $5.68. Your result will be a $128,500 loan at 5.5%. If you want to buy a home higher than that amount you will need to either make a larger down payment or qualify for a lower interest rate.

Note: This is not to be construed as financial advice. It is merely to provide you a means of approximating the price of a home you may be able to afford. Please check with an experienced lender to determine the exact amount of loan and interest rate you qualify for. They will then be able to give you a more exact price of a home you may be able to get a loan for.

For information on buying or selling real estate in Athens and the surrounding counties, call me at 706-207-5290 or click here to email me. If you would like to search for properties available in this same area, please click to follow the link to The Athens Real Estate Page.

So You want to Sell Your Home - Part 12 - The Grand Entrance

2009-04-16T11:46:00.000-07:00

OK, you have had a garage sale, put excess clothes and furniture into storage and your yard looks like a well manicured golf course. You are now ready to invite buyers into your home. Another chance for a first impression, where those buyers will actually be spending most of their time if they purchase your home.

Whether you are using an agent or selling the home on your own, or using a limited service agent where you are doing all the showings, etc., make sure that buyer are directed to enter the home through the room that will give the most dramatic, the most favorable impression to them. If you are showing your home, that is relatively easy to manage, you direct the prospect to the right door. If you are using an agent, you will usually not be there when the home is shown. Make sure that any lock-box the agent provides is as close to the preferred entrance as possible and that they put specific directions which entrance to use. After all, they might never see how the chandelier looks framed in front of the french doors if they come in the wrong door.

Give a feeling of space. If you have a narrow entrance hallway, makes sure that it is open and cleared of all obstructions. While you might be used to opening the door slowly so that you don't damage that hall tree, anybody looking at your home will not be. Make sure that there are no loose throw rugs or mats that someone may trip over as they enter your home.

Say "Welcome!" with colorful flowers or candles strategically placed to draw the eye but are out of the way. But be careful of anything that might provide an overpowering scent. Remember, those prospective buyers might not have the same discriminatory tastes that you do. Or, they just might not like a home that reminds them of a flower shop.

Make it look like new. Or at least make it look well cared for. A thorough cleaning is always in order. Make sure the carpet is cleaned and just vacuumed, or the tile is swept and the grout cleaned. Eliminate any hand prints or smudge marks from walls, doors, etc. If any minor repairs are needed, such has nail holes patched, warn carpet or damaged tiles replaced, and that any painting is completed.
You can get hints and tips at how to decorate, not just your entrance, but your whole home, by looking at magazines, websites, or even by touring model homes and open houses. Find something that reminds you of your entrance way and do something similar.

Remember, this is the rare opportunity to make another good first impression. Make the best of it! It will help set the tone for how the rest of the home is viewed.

Home Financing - The USDA 100% Rural Development Loan

2009-04-14T11:30:00.000-07:00

A few weeks ago I wrote an article about the types of financing available in today's market. Today, I would just like to expand on just one of those types, USDA Rural Development loans.

The U.S. Department of Agriculture is also in the home loan guarantee business, just like the V.A.
Under it's Rural Development 502 Guaranteed Housing Loan Program the USDA is offering 100% loans to qualified buyers. Here are the highlights of the loan program:

There is no down payment required. Similar to the VA, this is a true 100% loan program.
There is NO Mortgage Insurance. Conventional loans require PMI or Private Mortgage Insurance on loans of greater than 80%. This is usually added to the loan payment. FHA requires MIP, or Mortgage Insurance Premium, part of which is paid at closing and the remainder in the monthly payments.
There is no Cash Reserve Requirement. Some loans and/or lenders require you to have cash reserves, money left over after closing, to cover up to six months of payments. The Rural Development 502 program does not have that requirement. While I am not a financial planner, it does make sense to me to have some cash reserves on hand after your purchase.
There is no Pre-payment Penalty. You can pay your loan off early with no penalties. Although this is common in today's market, there are still some loans and lenders that will impose a pre-payment penalty.
You Don't Have to Meet First Time Buyer Requirements. You aren't getting a tax credit, but, you can use this type of loan when moving from one home that you own to another.
Both new construction and existing homes are eligible. You can by new are a previously ownded home.
There is no Seller Contribution Limit to Closing Cost. Unlike an FHA loan, if your agent, or you, can negotiate it, the seller can pay all of your closing costs.
There is no Gift Contribution Limit to Closing Costs. You may get all of your closing costs in the form of a gift from relatives or friends. You are not required to use your own "seasoned" funds.
It is a Fully Amortized 30 Year Loan. Payments are fixed over the time of the loan. There are no adjustable interest rates or payments. There is no balloon payment.
You Can Receive a loan for up to 102% of the Appraised Value. Providing you qualify, you can cover some of the closing costs and/or repairs with a loan of up to 102% of the appraised value.

This loan is not available in Athens-Clarke County or in Watkinsville. However, large areas of Oconee, Jackson, Madison and Oglethorpe counties are eligible for this loan program.

For more information on USDA loans contact a qualifed lender who is experienced with this program.

If you have questions on properties available under this program, or, if you are interested in buying or selling your home in Athens and the surrounding counties and communities please call me at 706-207-5290. Or, you can click here to email me with your inquiries. To search for home in Athens, Watkinsville, Oconee County, Oglethorpe County, Jackson County or Madison County, please visit my website at http://www.theathensrealestatepage.com

So You want to Sell Your Home - Part 11 - Too Much Stuff

2009-04-07T08:13:00.000-07:00

How much stuff do you have? If you have been living in your home for any length of time, the answer is probably "too much stuff".

Stuff, no matter what it is: furniture, pictures, appliances, toys, knick-knacks, clothes, etc., only distracts the potential buyer who is previewing your home. The buyer(s) want to picture the home as theirs, not yours. They are trying to see themselves living there. They are placing their furniture in the rooms, their pictures on the walls, their children in the yard, etc. The more "stuff" you have, the harder it is for them to picture their "stuff".

You need to minimize your stuff, or, declutter! That doesn't mean getting rid of everything and living in a bare house. It does mean getting rid of what you don't need to live there.

Start with the small things. Look in your closets to see what is there. Depending upon where your home is you might have four seasons of clothing in your closet. Pack up those clothes that will not be needed in the next few months. If your closets are still overfull, pick out the shoes, shirts, coats, etc. that you will be using. Try spacing your hanging clothes at least 3 fingers apart. If you have shelves in your closet, make small stacks of clothing, and don't crowd them together. Give the feeling of more space rather than less.

Clear your counter tops. In the kitchen limit your counter top appliances to a coffee pot. Place all your other appliances out of the way. Reduce the amount of dishes, pots, pans, etc. in your cabinets. Make them appear roomy. In the bathroom, do the same thing. Reduce what you keep on the counters and clear out those things from the cabinets that your don't regularly use.

Remove most, if not all, of your collectible items from view. This may include display cabinets and curio shelves that you have put in place just to display what you have collected. It allows the buyers to picture there items.

Get rid of pictures. Free up your walls as much as possible. One or two strategically placed pictures in a room are fine, recommended even. But don't have picture walls, especially those picture walls loaded with your family history. Some even suggest getting rid of all pictures of a personal nature. And, if you have pictures, be careful of the content. Risque, religious, political, and other pictures might distract the buyers, and even cause some to reject the home outright. We have a couple of Louis Icart prints, tasteful, but they might be offensive to some. We took them down when we sold our homes since having them.

Do you have too much furniture? Many of us do, at least for certain rooms. Get rid of excess furniture. And what is excess furniture? Any furniture that makes a room look crowded is too much furniture. It also might be that your furniture is over-sized for a room. You might consider temporarily replacing it.

Garages, basements, storage areas: While you may be able to store some of you stuff in these areas, do not fill them up. Make sure that cars can be parked in the garage. Keep your "stuff" from the middle of any of these locations.

What can I do with that excess stuff? There are many options. You can get a storage unit and store your things there. If you are storing a lot of books, or other delicate items, a climate controlled storage unit might be appropriate. Just remember, though, that for items you might need, such as clothing when a season changes, to place boxes, trunks, etc. so that they are easily accessible.

You can give items away, to friends, family or donate them to charity. You can sell items on Ebay or have a yard/garage sale. There are many ways to get your stuff out of the way.

Remember, you are trying to sell your home, not your stuff. The less stuff buyers see, the more of your home that they see. Whether you are using an agent, or trying to sell your home on your own, when it comes to "stuff", less is more!

For more information on getting your home ready to sell, or for any other real estate concern, call me at 706-207-5290 or you can email me with your information request.

April Fool's Day Virus - Conflicker - Removal Tool

2009-03-31T17:28:00.000-07:00

The news has been all over the latest April Fool's Day virus that is to hit tomorrow, or actually might have already hit in Sidney Australia and parts of Asia.There does not appear to have been any widespread damage yet.

But, I digress. From the Kim Komando show here is a link to see if your system has the conflicker virus and a removal tool for it.

Conflicker virus removal tool

Also, here is a link to other conflicker removal tools on Kim's site.

BTW, McAfee does not view this as a critical threat, especially if you have been updating your virus signatures on their site.

If you have Windows and have kept up with your updates, you should be ok. But, if not, go to Kim Komando's site and see what she has to say about fixing things.

Attention For Sale By Owner - Alert on Possible Scam

2009-03-24T11:12:00.000-07:00

Do you have your home up for sale by owner? If so, please read this through.

A seller that I have been talking with, who has since listed their home, was approached by a couple about the home, while still FSBO (For Sale By Owner) last week. The couple was very nice, expressed an interest in the home and eventually made a verbal offer. The sellers countered and they reached an agreement.

The couple then said that they would be using a VA loan and would get a VA appraisal and have a signed contract. Three days later the sellers and the couple talked on the phone. The husband of the couple informed the seller that the VA would only value that house at about $7000 less than the agreed upon figure, and, that they would require the sellers to pay $5500 in closing costs.

When asked how the VA appraised the home without a singed contract, the buyer replied that the VA checked out the value on tax records. The sellers, fortunately, walked away from the deal.

Now, where is the scam? The VA, nor any lender that I know of, in today's market, will do an appraisal without a contract. And, they will certainly not base that appraisal all on tax records. And, while VA will allow seller concessions, up to a maximum, they do not require them.

It is apparent that the "buyers" wanted to get a much lower than market value price for the home as well as having the seller pay most, or all, of their costs to close. To compound that matter, one of the "buyers" represent their self as a real estate agent. If that were true, this practice appears to be a gross violation of Georgia license law.

This is the first instance of this that I have heard of, but it is one too many. I recommended that the seller talked to the broker where the "buyer" indicated she was an agent. If anyone comes to your door proclaiming to be an agent, make sure that you get a card of theirs, and, if they try anything like this, report it to their broker. The "buyer" might not be an agent, or, might be new and not realize that they are breaking license law. They also might be unscrupulous and want to get a quality home for foreclosure prices. Either way, the broker is responsible for the actions of the agents at their firm and, believe me, will nip this in the bud.

So, protect yourself from predatory buyers. Read my blog, I try to be fair. And, to find out about my offer especially for FSBO's, give me a call at 706-207-5290 or click here to email me with your inquiries.

From the VA Home Loan Information Site, see particularly steps 2 & 3,

FIVE EASY STEPS TO A VA LOAN:

Apply for a Certificate of Eligibility (COE).

A veteran can obtain a COE by completing VA Form 26-1880, Request for a Certificate of Eligibility, and mailing it, along with proof of military service, to the eligibility center (see office list at back of pamphlet). Also, veterans who have already begun the loan application process with a lender may request the lender obtain a COE through webLGY, which is accessed through the VA portal. More information about this online system can be found at our website which is: www.homeloans.va.gov.
Decide on a home to buy and sign a purchase agreement.
Order an appraisal from VA. (Usually this is done by the lender.)

Ordering an appraisal can be done via the Internet using TAS (The Appraisal System). This is a centralized system that allows lenders easy and quick access to order an appraisal.
Apply to a mortgage lender for the loan.

While the appraisal is being done, the lender can be gathering credit and income information. If the lender is authorized by VA to process loans on the automatic basis (and approx. 99 percent of all VA loans are processed this way), the loan can be approved and closed upon receipt of the appraised value determination without waiting for a VA review of the credit application. VA has also approved the use of several automated underwriting systems for lenders to use in connection with VA loans. The two main systems are Loan Prospector and Desktop Underwriter. For loans that must be approved by VA, lenders send the credit package to VA. VA staff will then review it and notify the lender of the decision.
Close the loan and move in.

Buyers - There is Still Money Out There for a Loan - Financing Options

2009-03-18T11:08:00.001-07:00

With all of the focus on how tight credit is, you may believe that there is no money out there for a home loan. If that is the case, you are believing wrong. There is still a lot of money available and a lot of lenders who will make that loan. There are even some 100% loans available.

Here is a list of the main types of loans that you can get today:

FHA - the majority of today's mortgages are being written, or underwritten, by FHA. The requirements are a bit stiffer than they used to be, and the you will need to come up with at least 3.5% of the loan amount to qualify.
FHA Renovation Loan - there are two types, standard and streamlined. They allow the buyer to renovate a home prior to moving into it. This type of loan can make purchasing distressed or foreclosed properties enticing.
VA - this is a 100% loan available to honorably discharged U.S. veterans. It can be used more than once, the veteran will just have to get a certificate of eligibility each time he/she wants to use it. All previous VA loans have to be paid off.
USDA- rural development loan for properties in specific designated zones. This is another 100% loan program. Athens-Clarke County is not eligible but much of Jackson, Madison, Oglethorpe, Oconee, Barrow and Walton County are eligible.
Reverse Purchase Mortgage - this is a program specifically for seniors over age 62 who can purchase a home for a down payment and have no payments for the rest of their lives.
Conventional - available from mortgage brokers, banks, lenders, etc. Different institutions will have different types of loan programs.
Owner Financing - sometimes the seller will finance all or part of the purchase price. This may be good for someone with special circumstances who cannot qualify for a loan for some reason but is able to make the payments. A person who is self-employed but with less than 2 years of history might be a candidate for this.

For all loan types (except owner financing) speak with knowledge-able lenders. Not all lenders will be knowledge-able about each loan type. They might not even offer all loan types. And, even if they offer the same loan type, such as FHA Renovation, the programs may be very different. You may want to interview and deal with several lenders and make detailed comparisons before selecting one. And don't forget to get a pre-approval, not pre-qualified, letter. It puts you in a better position to get the home that you want.

For more information on loan types, or, about buying or selling a home or land in Athens and the surrounding counties, call me at 706-207-5290.

Athens GA Women's Council of Realtors Charity Chili Cook-Off Mar. 19, 6-9 PM

2009-03-16T13:25:00.000-07:00

The Athens chapter of the Women's Council of Realtors will be hosting it's 4th Annual Chili Cook-Off for the benefit of the Athens Area Homeless Shelter. The cook-off will take place at The TailGate Station, 234 Oak St from 6PM - 9PM Thurs, Mar. 19.

There will be something for everyone, with 12 different chili recipes to sample and vote on. Soft drinks are available also, along with fire extinguishers. The Packway Handle Band will be providing blue-grass music for entertainment.

For more information and for tickets, click on the Athens WCR website.

Come out for some smokin' hot chili and to support a great cause.

So You Want to Sell Your Home - Part 10 - First Impressions are Everything

2009-03-16T12:56:00.000-07:00

What is the first thing people see when they come to look at your home? Your yard and other exterior features, of course. They see you lawn, your mailbox, your driveway, your plants and trees. They see the outside of your house.

The home buyer experience starts when the buyer(s) first see the property. If what they see isn't appealing enough to coax the potential buyer to leave the car, it doesn't matter what the inside of the home is like (unless the buyer's agent really knows the home and is can persuasively present a case for it). And even if the buyer(s) go in to look at the interior, they already have had their expectations set for poor maintenance and possible hidden problems. They will take a closer look at the interior, expecting to find problems, sometimes imagining them, that will discourage an offer.

Start from the street and look back at house. Are they shrubs that need trimming that obscure the view of the home? Does the lawn need mowing and weeding, or even re-seeding? Are there dead trees and shrubs that need to be removed? Are there fallen leaves that need raking.

How does the house look? Does it need painting? Are the gutters or shutters sagging? Is the driveway in good repair? Is pressure washing needed? How does that roof and chimney look? Pay close attention to door and window jams and thresholds. Are they mildewed? If so clean them up. Are there signs of dry rot or water damage? If so, have them repaired. Do they need painting? Go ahead and paint them.

Once everything is in good repair, add some inviting features. Place annuals around the mailbox, plant some shrubs, put annuals along walkways, mulch any flower beds, place flowers around the entrance. Provide some color and a cheery perception. Perception is everything with a buyer when they are looking.

The important thing, set the buyer's expectations. A well presented exterior makes a positive impression. It encourages the buyer to view the interior more positively. And, it increases the potential for both an offer and the amount of the offer.

First impressions, if they are very good, are an important step in getting from For Sale to Sold!

Getting to Yes - Negotiating the Deal

2009-03-09T12:21:00.001-07:00

Negotiating, we do it every day, in all parts of our lives. When we discuss what to have for dinner, that is a negotiation. When we decide which station to watch, which movie to see, those are negotiations. We do it all the time, often unconsciously. We do it mostly with the little things, and usually it goes very well. We avoid confrontation, sometimes with agility, sometimes not, but we do it.

Negotiating is often viewed as confrontation, with a clear winner and a clear loser, but, it doesn't have to be that way. The best negotiations result in both sides winning, neither side losing. It is called WIN-WIN. Yes, there might be compromise, but it is mutually agreeable compromise.

Whether buying or selling a home, each person wants to get the very best deal that they can. How do we make both sides winners? The simple answer is by doing whatever it takes to make both the buyer and the seller feel good about the transaction. It's getting there that takes the skill.

Here are a few pointers to aide in easing the home buying and selling negotiating process. They apply equally to buyers and sellers:

Don't think of this as a win at all costs situation. This is not a contest.
Make your offers and counter offers realistic. You, the buyer, are not going to get that house for 10 cents on the dollar. You, the seller, are not going to get paid more than market value for the home.
Do not view offers, or counter-offers, as insults. Negotiating is an iterative process, it may often take multiple counter-offers by each party to reach an agreement.
Do not immediately respond to offers or counter offers. Take some time to review them. Determine as seller if you can live with what you will net from the offer. Determine as a buyer if you can afford that additional stipulations.
You can substitute items of value for money. What does that mean? As a buyer, you can meet an asking price but ask for the appliances to remain, or for a home warranty. As a seller, you can agree to concessions, such as paying a certain amount of the costs to close, but, you can ask for an earlier closing date, or a higher price to cover some of the closing costs.
Refrain for providing personal information that may provide leverage to the other party. For instance, as a seller, don't mention that you are being transferred. As a buyer, don't mention that you absolutely love the home and it is what you have dreamed about all of your life.
Set a reasonable deadline for response to offers and counter offers. Provide days rather than hours for a response, especially if it involves providing something that is dependent upon the actions of a third party, i.e. getting a survey done, it may take a couple of days to find a surveyor and get the cost of having the survey completed.
Keep quiet. Once your offer or counter has been submitted, wait. Don't contact the other side. It puts you in a position of weakness.
Keep your emotions out of the negotiating process. This is the hardest part of the process, for many, an impossible part of the process. The buyer does not want to pay for you memories of the property. The seller is not there to enable you to afford a boat with the money you will save.
At sometime, BAFO. At some point one or the other side will reach BAFO, or Best And Final Offer. If this is the case, make sure that it is stated in your counter offer. It may be the most the buyer can afford, or is willing to pay for the home. It may be the least the seller will take without any further concessions. Either way, when this point is reached, be prepared to say Yes or No. Don't get angry and don't take it personally.

And here is my last tip. Get someone to handle the negotiations for you. This could be your Realtor buyers or sellers agent or it could be an attorney or someone else you hire specifically for the negotiation. Some Realtors will handle just the negotiations, and the paperwork for you. But this person should be totally objective about the transaction and able to remain unemotional. This will assure that personalities do not enter into the process.

As your sellers representative, I will present all offers to you, in a very positive manner, along with an analysis of what this means to your bottom line; your net proceeds, your closing date, etc. I will give you time to review the offer, and then we will discuss it. I will present the pros and cons, let you know whether it is reasonable to market value. We can then work out any counter offer strategies, or even a flat out rejection (not recommended).

As your buyers representative, I will work with you on preparing a reasonable offer, to market value and any concessions that might be reasonable, also. Once a counter is received, I will perform the same steps that I would with a seller.

Either way, I will be working to get this negotiation to the point of Win-Win regardless of how many iterations this may take. Whether you use me, another Realtor, an attorney, or do it yourself, this should be your goal; Getting to Yes, Getting to Win-Win.

For information or assistance in buying or selling your home in Athens and the surrounding counties, please call me at 706-207-5290 or click here to email me with your questions and inquiries.

Time for a Change - or Just Change Your Time - Spring Forward this weekend.

2009-03-06T11:33:00.000-08:00

This weekend marks the beginning of Daylight Savings Time for 2009. At 2:00 A.M. on Sunday morning, resulting in a "short weekend" for those of us that live in states other than Hawaii and Arizona.

It is also a reminder to change the batteries in your smoke alarms and other alarms, such as carbon monoxide, if you have them. Whether you want to be a purist and remain awake to change you clocks and watches at 2:00 A.M. or you prefer to make the changes before going to bed or after waking up, it doesn't matter. Just don't be late to church on Sunday or work on Monday.

For information regarding buying or selling a home in Athens-Clarke County, Oconee, Oglethorpe, Madison, Jackson, Barrow or Walton Counties, call me at 706-207-5290 or click here to email me with your inquiries.

So You Want to Sell Your Home - Part 9 - Write a Book

2009-03-04T11:57:00.000-08:00

Really, writing a book will help you sell your home! It doesn't have to be a long book, or even have much of a plot. You don't even need to write a lot of original content.

When I list a home, I work with the sellers putting together a marketing book. This is a book that is prominently displayed in the home and that buyers and buyers agents have easy access to. They may even carry it with them as a reference as they tour the home and property.

So, what should this book include? Let's start with the cover. The cover should be a nice quality binder with a very appealing picture of your home, at it's best. It should also show the address, to help imprint your home in the potential buyers mind. I use a quality binder because, unlike paper folders, the binder is less likely to "walk off".

So much for the outside, what should you include on the inside:

A letter from you, the home owner. This should be the very first item in the book, and, one of only pages that will be truly original thought. This should be a short letter, one or two paragraphs, of what you love about your home, perhaps why you bought it, what memories it provides.
A description of your home clearly pointing out all of the highlights. Describe the granite countertops, the master bath, the hardwood floors, all of the features that you feel are the selling points.
Pictures of the property - especially the outside, during the different seasons.
A plat of the property. If you don't have one, you can usually get one at the courthouse.
A floor plan of the home and any other structures. If you have one available, it is a great tool to help a buyer get a feel for how the home flows.
Square-footage of key rooms, which include but aren't limited to:

Kitchen
Dining Room
Living Room
Family Room
Master Bedroom
Other Bedrooms
Bonus Room
Basement

Area information:

dining
hospitals
parks
entertainment
etc

Commute times to schools, shopping, etc.
What improvements have you made or had made.
Copies of your last utility bills, up to 12 months if possible
A property tax page detailing how much your property taxes are.
Area schools, just the addresses types. Do no evaluate the schools.

That's it, a simple book but it can make the difference in selling your home or not. So, whether listing with an agent, or selling on your own, write a book.

So You Want to Sell Your Home - Part 8 - Standing Out From the Competition!

2009-02-25T12:10:00.000-08:00

In previous posts I have emphasized that price is the number one issue in getting a home sold. However, what that really means is that the price must reflect the condition of the home being sold.

Real estate buyers, especially in today's market, look very closely at price and condition. Buyers believe that what they see is what they get and what they see determines what they are willing to pay for the home.

Buyers typically prioritize, whether consciously or not, a home in this order:

Curb appeal
Entryway
Kitchen
Master Bedroom & Bath
Living Areas
Other Bedrooms
Backyard

Curb appeal, believe it or not, has a major impact on how the buyer(s) view the rest of the house. It is the first thing they see when they approach your property. It sets not only expectation, but also the perception of how they view the remainder of the home.

In future posts, we will discuss how we can address curb appeal, as well as the remaining six priorities of the buyer, following the staging formula of 3P - 2F:

plantings
paint
pictures
fixtures
furnishings

For information on getting your home ready to sell or for a copy of my 99 Tips for Getting Your Home Ready to Sell, call me at 706-207-5290 or click here to send me an email request.

Thinking of Buying a Home - Make a List, Check it Twice

2009-02-12T04:30:00.000-08:00

When you go grocery shopping do you have a list of items that you want or need? Perhaps, if you are like me, it's one that your wife puts together for you. Whether it is just a few items or a couple dozen, we always grocery shop with a list.

I see a lot of grocery shoppers with lists. However, I see very few home buyers with lists. Sure, they all have some vision of a home, the home of their dreams, they can see it in their minds. But when out looking at homes for sale, they don't see it in reality. That doesn't mean that the home of their dreams is not out there, it often only means that they really aren't sure what the home of their dreams looks like.

How can you increase the chances of finding the home of your dreams? It really isn't that difficult. Just Make a List. I recommend making what I call the 15 list. First, make a list of 5 attributes that the home of your dreams must have. For seniors, or for couples with an infant or planning on babies, one must have might be a single story ranch or similar home. For families with older children it could be a split bedroom plan. A must have list could look something like this:

Our Dream Home Must Have:

Minimum 3 bedrooms, 2 baths
Split bedroom plan
Handicapped access
Fenced backyard
Low maintenance yard

Second, list 5 more items that would be nice to have, they could look something like this:

These items would be nice to have in our Dream Home:

Granite counter tops
Finished basement
2 acres
10 minutes from work
brick exterior

And finally, make a list of 5 items that you absolutely don't want (for some people, this is the hardest part). That list could be something like:

These things would make our dream home a nightmare:

swimming pool
adjacent to school or park
gas appliances
next to cemetery
fixer upper

Note, the above lists are only examples and not suggestions as to what you should want or not want in your dream home. They will be different for everyone. Review this list often, both before you start the home search process and while you are looking. You may be surprised to find that the must have and desirable items may swap places with each other, or even be replaced by other items you hadn't included originally.

You don't have to limit the number to 5 in each category, or even the same amount of items in each group. You might have 7 must haves, 10 nice to haves and only 3 absolutely no way will our home ever have these.

So, when you first think about buying a new home, whether it is your first, or or your tenth, make that list. If you are buying with someone else, make sure you have one list that includes both of your needs and excludes both of your absolutely nots.

For more tips on buying, selling or investing in a home or real estate in or around Athens, GA call me at 706-207-5290. Or you can click here to email me with your inquiry. Please visit my website at The Athens Real Estate Page for information on local properties available.

Athens GA Area Seniors to Get Income Tax Assistance

2009-02-09T06:27:00.000-08:00

Athens GA Area Seniors to Get Income Tax Assistance

AARP is once again offerring free tax preparation assistance for low to moderate income taxpayers, with a focus on seniors in the 60+ age group. Help will be available now through April 11 on a rotating schedule among several sites.

Assistance is available at the following locations on the days and times listed:

Oconee County Library - Mondays , 1 - 5 PM

Oglethorpe County Library - Tuesdays, 1 - 4:30 PM

Kroger's, 1720 Epps Bridge Parkway, - Wednesdays - Saturdays, 9:00 A.M. - 1:00 P.M.

Athens Council on Aging, Hoyt St. - 9:00 A.M. - 1:00 P.M.

For more information, such as what papers and information will be required, call 706-543-9511.

This is a nationwide service from the AARP Tax-Aide group. For a location near you, outside of the Athens, GA area you can go to the AARP Tax-Aide Locator.

For information on Athens GA Real Estate, as well as the surrounding counties call me at 706-207-5290. Or you can email me or check out my website, The Athens Real Estate Page.

Get Ready for Your Credit Score to Decline - New FICO Formula Kicks in This Month

2009-01-16T10:44:00.000-08:00

FAIR ISAAC is changing the playing field again, implementing it's latest version of credit scoring FICO 2008. And it doesn't appear that the change will be leveling it. The three major credit reporting agencies will be rolling out the new scoring system this year, with Transunion deploying it in January, Equifax in late spring and Experian at some later date.

The new FICO is touted to better predict the likelihood of a default on the part of the borrower. However, many of the changes appear to be designed to lower credit scores. FICO 2008 will place more emphasis on available credit, not just balances. So, even if you are not carrying a balance, if your credit line is reduced, your FICO score could be lowered. It appears, under the new scoring system, the more available credit you have, the better your score would be. (I remember having been rejected for an airline credit card in the early 90's because I had too much available credit even though most of it was unused). You will also have your credit score reduced by having only a few open and active credit accounts.

Supposedly, there are three changes that will benefit credit consumers.

It will ignore debts gone into collection if original debt is less than $100
It will not punish single credit set-backs, such as write offs or repossessions as long as all other accounts are in good standing
It will continue to use some "authorized-user" information (although this is only a change from the fact that they were going to discard it entirely).

What will this do to the real estate and mortgage industry? I don't see anything good, at least for the first few months of implementation, especially since at any one time the credit agencies may be using different versions of FICO. That can only lead to confusion. Perhaps, in the long run it will lead to fewer defaults, but until it has rolled out completely, the only change that I can see is some tightening.

Personally, I know that my current FICO score is around 800. I am expecting it to drop just a bit since I am using my cards less and my only installment loan will be paid off in April.

Do you know what your score is? You can get an estimated range here.

Click here to read the complete article about the new FICO 2008 scoring system and how you can take steps to mitigate any lowering of your credit score.

Only 15 Days Left for Freddie Mac 3.5% Closing Assistance Program

2009-01-16T10:37:00.000-08:00

Feddie Mac's Homesteps closing assistance program ends on Jan. 31. You still have 15 days to get a contract on a Freddie Mac Homesteps home (see me blog post about the program) and close by Mar. 14 this year.

This is an excellent program to help buyers get some assistance on their home purchase.

This looks like a helpful program to assist both buyers getting into homes and to help Freddie Mac sell off some of it's owned property. For complete details clink on the program link.

For more information on this program, and for buying or selling real estate in Athens and the surrounding 5 counties please don't hesitate to call me at 706-207-5290 or you can click here to email me.

Some Heavy Metal Thunder for Christmas

2008-12-12T11:10:00.000-08:00

FOR SALE: 1977 HARLEY DAVIDSON FX LOWRIDER

In Good running condition, less than 1000 miles on rebuilt Engine and Transmission. Has many extras: S&S Super E Carb, electronic ignition, Kuryakyn Iso grips and Pegs etc. Many new parts: Tires, clutch, clutch and throttle cables, new rear brakes, completely rewired.

Could use new paint, and polish, but still a pretty good looking bike considering it's 30 years old.

Contact Tom Scott at 706-335-4419 if no answer call 706-247-4078

Asking $6,000 OBO, I am very willing to neqotiate.

3.5% Buyer Closing Assistance From Freddie Mac

2008-11-17T06:14:00.000-08:00

Homesteps.Com, a unit of Freddie Mac is offerring up to 3.5% closing assistance program to buyers of Homestep listed homes. This program is available for contracts received by Jan. 31, 2009 with an escrow close on or before Mar. 14, 2009.

Homesteps will pay up to 3.5% or actual closing costs, whichever is lower for owner occupied, financed homes and up to 1% for owner occupied cash sale homes. Investors are not eligible for this discount.

This looks like a helpful program to assist both buyers getting into homes and to help Freddie Mac sell off some of it's owned property. For complete details clink on the program link.

Madison County, GA Home Sales Holding Steady

2008-10-04T08:34:00.000-07:00

Madison County is showing some resilience in todays housing market.

For August and September the sliding average of annual home sales in Madison County has remainded virtually unchanged. However, sales are still down almost 28% from the start of the year. The D.O.M. (Days on Market) decreased slightly but is still up almost 9% since January.

While down from last month, the average home sales price in Madison County is still slightly higher than at the start of the year while the median price is down from last month and just over 1% lower since January.

The following chart shows the sliding 12 month figures for Madison County:

Date

D.O.M

# Sold

Average Price

Median Price

1/1/2008

194

244

$148,726.00

$143,500.00

2/1/2008

198

239

$148,541.00

$144,500.00

3/1/2008

199

235

$149,963.00

$143,200.00

4/1/2008

199

231

$150,099.00

$143,750.00

5/1/2008

201

223

$151,100.00

$144,500.00

6/1/2008

195

213

$147,999.00

$144,500.00

7/1/2008

199

198

$150,638.00

$142,200.00

8/1/2008

212

181

$147,995.00

$141,000.00

9/1/2008

214

174

$152,894.00

$145,000.00

10/1/2008

211

176

$149,273.00

$141,500.00

For more information on buying or selling in Madison County please contact me by phone or email.

Oglethorpe County, GA Home Sales Volume Still Dropping

2008-10-03T05:06:00.000-07:00

But the median and average prices are virtually unchanged.

The month of September saw another decrese in the average annual residential sales in Oglethorpe County dropping the volume to almost 50% of a year ago. The average Days on the Market (D.O.M.), however, is still bucking the trend of other nearby areas and showing a decrease.

The following chart shows the sliding 12 month figures:

Date	D.O.M	# Sold	Average Price	Median Price
1/1/2008	187	185	$149,394.00	$146,900.00
2/1/2008	182	171	$153,5090.00	$147,900.00
3/1/2008	180	171	$157,918.00	$147,900.00
4/1/2008	174	168	$156,909.00	$147,100.00
5/1/2008	179	146	$157,427.00	$146,625.00
6/1/2008	176	130	$149,611.00	$143,900.00
7/1/2008	163	113	$148,092.00	$143,900.00
8/1/2008	164	110	$148,076.00	$141,950.00
9/1/2008	173	104	$143,643.00	$141,900.00
10/1/2008	160	95	$143,068.00	$141,900.00

For more information on buying or selling in Oglethorpe County please contact me by phone or email.

Another Mexican Treat - Queso Fundido

2008-10-02T11:37:00.000-07:00

Queso Fundido

I may have mentioned that my wife and I really enjoy Mexican food. Here is another recipe that, if you like Mexican cheese dip, you might like to try. It is a variation on a dish called Queso Fundido. We have not been able to find it anywhere in the area so we are sharing the recipe with you.

Ingredients:

16 oz. Mexican melting cheese

8 oz. Chorizo

¼ cup chopped red or green onions

¼ cup chopped cilantro

¼ cup chopped pickled jalapeno peppers (more or less, according to how “hot” you like it).

Directions:

Crumble the chorizo into a frying pan. If the chorizo is in sausage form, remove it from the casing and discard the casing. Fry the chorizo completely and then drain and squeeze as much of the grease from it as possible.

Preheat your oven to 300°. Put the Mexican melting cheese in a baking dish along with the cooked and drained chorizo and the jalapenos. Stir the ingredients together. Bake this mixture in the oven for about 20 minutes or until the cheese is completely melted.

Remove the casserole from the oven and place the dish on the table using a trivet or hot pad. Serve it with corn chips or on small tortillas, as an appetizer or, if you like, as your main course.

We like to serve this dish alongside build-your-own tacos, our fresh guacamole, and, of course, margaritas or a cold Negro Modelo. Very tasty, we hope you enjoy.

Athens-Clarke County Home Sales Bottomming?

2008-10-02T11:13:00.000-07:00

While still a decline from last month, the number of homes sold in Athens-Clarke County is almost flat. The sliding 12 month sales figures indicate a decrease in sales volume of just over 1/2%. The average number of days the sold home is on the market is still increasing but overall it is only a 6-1/2% increase since the beginning of the year.

The median sales price has continued to rise, up just over 7% since Jan. 1. The average sales price is still trending up although just below the high of August this year.

The following chart shows the sliding 12 month figures:

Date	D.O.M	# Sold	Median Price	Average Price
1/1/2008	167	1664	$139,900.00	$164,445.00
2/1/2008	167	1632	$139,900.00	$164,857.00
3/1/2008	171	1579	$140,000.00	$166,204.00
4/1/2008	172	1516	$141,000.00	$165,930.00
5/1/2008	173	1484	$140,000.00	$166,500.00
6/1/2008	174	1382	$142,400.00	$168,257.00
7/1/2008	173	1321	$145,000.00	$171,767.00
8/1/2008	173	1229	$149,625.00	$175,821.00
9/1/2008	176	1190	$149,625.00	$173,195.00
10/1/2008	178	1182	$149,900.00	$174,139.00

For more information on buying or selling in Athens-Clarke County please contact me by phone or email.

September 2008 Oconee Home Sales Information

2008-10-02T10:54:00.000-07:00

September shows that in Oconee County home sales volume is basically flat, a net increase of 2 over the last month, for the last two months. The number of days on the market average (D.O.M.) is still showing a slight rise.

At the same time the sliding 12 month median price went is down slightly while the average price, during the same period, went from went slightly down again to $308,707.00.

The following chart shows the sliding 12 month figures:

Date	D.O.M	# Sold	Median Price	Average Price
1/1/2008	180	496	$273,500.00	$315,785.00
2/1/2008	186	487	$275,000.00	$314,269.00
3/1/2008	191	487	$275,000.00	$313,979.00
4/1/2008	195	490	$272,000.00	$310,178.00
5/1/2008	199	491	$269,000.00	$306,516.00
6/1/2008	201	472	$272,000.00	$307,398.00
7/1/2008	206	465	$275,000.00	$309,223.00
8/1/2008	211	429	$275,000.00	$309,415.00
9/1/2008	216	396	$275,000.00	$310,441.00
10/1/2008	217	398	$273,250.00	$308,707.00

For more information on buying or selling in Oconee County please contact me by phone or email.

Can You Use a $7500 Interest Free Loan - Something Good From the new Housing Act and Economic Recovery Act

2008-09-09T15:16:00.001-07:00

Can you use a $7500 interest-free loan?

Are you a first time home buyer? Or even a second or third or more times home buyer?

If your answer is yes to both of these, then you may want to consider taking advantage of a provision found in the new Housing and Economic Recovery Act of 2008 and purchase a new home in the next 10 months.

What is it? First time homebuyers are eligible for a “credit” of 10% of the purchase price of a new home, up to a maximum of $7500 on homes purchased between April 9 of this year and July 1, 2009.

What is a first-time home buyer? A first-time home buyer, for the purpose of receiving this credit, is defined as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For a married couple, both husband and wife have to meet the three-year requirement.

Although this is labeled as a credit, it is really an interest-free loan. It does have to be repaid in equal amounts over 15 years. That means, the person(s) receiving the credit must repay $500 a year for 15 years. However, if you apply that $7500 to the principal of a 7% loan, over $4200 in interest would be saved. Or, you could invest in a long-term CD and gain income on the $7500 for 15 years (less the $500 a year you are repaying). You can do what you like with the credit, including pay any taxes owed.

To find out more information on this credit go to the site http://www.federalhousingtaxcredit.com . It will provide you with all of the information you will need to qualify for this credit. It also will direct you to additional resources that will be helpful in buying your home.

Call me at 706-207-5290, or email me with any questions on buying or selling your home in and around Athens or any of the surrounding counties and towns.

Note: This is not legal of financial advice. For legal advice consult an attorney. For financial advice consult a financial advisor.

Athens-Clarke County Home Sales Prices Up

2008-08-16T15:29:00.000-07:00

Athens-Clarke County Home Sales Prices Up?

But the news is mixed.

In Athens-Clarke County the sliding 12 month sales figures have shown a steady decrease in the number of homes sold in the area. In the year ending Jan. 1, 2008 the total home sold was 1664. In the 12 months from Aug. 1, 2007 to Aug. 1, 2008 the total number sold was 1229. That is a decrease of over 26%. At the same time D.O.M. had a 3% increase from 167 to 173 days.

On the other hand both the 12 month sliding median and average sales prices have gone up significantly. There was an almost 7% increase in median price from $139,900 to $149,625 and a 6.5% increase in average price from $164,445 to $175,821.

The following chart shows the sliding 12 month figures:

Date	D.O.M	# Sold	Median Price	Average Price
1/1/2008	167	1664	$139,900.00	$164,445.00
2/1/2008	167	1632	$139,900.00	$164,857.00
3/1/2008	171	1579	$140,000.00	$166,204.00
4/1/2008	172	1516	$141,000.00	$165,930.00
5/1/2008	173	1484	$140,000.00	$166,500.00
6/1/2008	174	1382	$142,400.00	$168,257.00
7/1/2008	173	1321	$145,000.00	$171,767.00
8/1/2008	173	1229	$149,625.00	$175,821.00

For more information on buying or selling in Athens-Clarke County please contact me by phone or email.

Oconee County Home Sales - Median Price Up, But.....

2008-08-16T15:28:00.000-07:00

Oconee County Home Sales Slightly Down,

Median Price Slightly Up.

News is mixed.

In Oconee County the sliding 12 month sales figures have shown a slight decrease in the number of homes sold in the area, except for the most recent month when there was an 8% decrease. In the year ending Jan. 1, 2008 the total home sold was 496. In the 12 months from Aug. 1, 2007 to Aug. 1, 2008 the total number sold was 429. That is a decrease of over 13% with more than half of that in the last period. At the same time D.O.M. had a 17% increase from 180 to 211 days.

At the same time the sliding 12 month median price went up slightly from $273,500.00 to $275,000.00, an increase of less than 1%. The average price, in the same period went from $315,785.00 to $309,415.00, a decrease of about 2%

The following chart shows the sliding 12 month figures:

Date	D.O.M	# Sold	Median Price	Average Price
1/1/2008	180	496	$273,500.00	$315,785.00
2/1/2008	186	487	$275,000.00	$314,269.00
3/1/2008	191	487	$275,000.00	$313,979.00
4/1/2008	195	490	$272,000.00	$310,178.00
5/1/2008	199	491	$269,000.00	$306,516.00
6/1/2008	201	472	$272,000.00	$307,398.00
7/1/2008	206	465	$275,000.00	$309,223.00
8/1/2008	211	429	$275,000.00	$309,415.00

For more information on buying or selling in Oconee County please contact me by phone or email.

So You Want to Sell Your Home: Part 7 – What stays, what goes. Real vs. Personal Property

2008-08-03T14:12:00.000-07:00

So You Want to Sell Your Home

Part 7 –

What stays, what goes. Real vs. Personal Property

Your home is for sale, buyers flock to your door, offers are arriving one after another, almost too fast for you to respond to them. Well, maybe not. However, you do finally get an offer on your home, you negotiate, and a sales contract is signed. The buyer does all the due diligence, having inspections, getting financing, etc. You have corrected any problems found during the inspection and you have moved all of your personal property out of the house. Your furniture is on the moving van and you are now waiting for the buyer at the office of the closing attorney or a title company.

The buyer has made the final walk-through of the vacated property and comes to the closing ready to walk away from the purchase. Why, because you removed a Waterford Crystal chandelier that was hanging in the dining room. Sure, it was a family heirloom and you never intended it to stay. And yes, you replaced it with another chandelier from Home Depot. But the buyer really envisioned that Waterford chandelier hanging above their formal dining set. Or, it might have been a built-in microwave, or a couple of small trees or shrubs that you planted in honor of your children. It could have been any number of things that you removed but the buyer expected to remain.

This happens more often than you might think, especially when one or both of the sides (buyer & seller) are inexperienced or don’t have knowledgeable representation. Sometimes the closing can be rescued with additional negotiation and concessions. Sometimes it can’t.

But how can this be prevented? First, both buyer and seller need to understand the difference between real and personal property. Real property is basically defined as the land and its appurtenances. Everything else is personal property. The confusion is over what is included in the appurtenances.

Well, the obvious would be the house and garage or carport (if there is a garage or carport). Fences, barns, outbuildings that are fixed to the ground, sidewalks, driveways, and in-ground pools or spas are also included. So are trees, bushes, annuals, perennials and other in-ground plants. Inside appurtenances would include built-in cabinets, existing light fixtures (including grandma’s Waterford Crystal chandelier), ceiling fans, plumbing fixtures, switch plates and outlet plates, built-in appliances, blinds, shades, window covering hardware. Basically, anything that is screwed or nailed or otherwise “permanently” affixed to the home is considered real property.

Furniture, free-standing appliances, free-standing (or hanging) art work and mirrors, and indoor plants are considered personal property. Basically, anything that can be removed without damage to the property is considered personal property, except of course things like light fixtures, switch plates. Also, surprisingly, any blooming flowers, ripened fruit or vegetables are also considered personal property. While the plants must remain in the ground, you can pick the flowers or fruit and take them with you.

There are some things, though, that are in a bit of a gray area. Are curtains and curtain rods real or personal property? Is patio furniture real or personal property? How about the portable storage building that the garden tools and lawnmower are kept in? What about the large potted trees that line the patio or entrance? The best answer to this is “maybe.” Sometimes it may be obvious: if the curtains are custom made to match the pattern of the wallpaper, they are probably real property. If you have made a path leading to the storage shed, the shed is probably real property. Likewise, if there is custom built-in cabinetry to house a specific television or entertainment system, those electronic items could be real property.

But the best way to avoid any confusion is to remove any items that are not included in the sale from view before showing the property. That might mean replacing that chandelier with another, removing and replacing the switch covers, etc. Also, clearly state in both the disclosure and the contract what items are included in or excluded from the sale. If there are items of personal property that are agreed to be included as part of the transaction, such as free-standing appliances, mirrors, patio furniture, etc., they should be clearly indicated, by brand and serial number if possible, in a separate personal property addendum that is an attachment to the contract.

Get everything down in writing. It may seem redundant, it may seem trivial; however, it will make the closing of the property smoother and leave both parties with positive feelings.

And don’t forget to leave all the keys and any remote controls (garage door, lighting, etc). They, too, are part of the real property.

Best of luck on the sale of your home. Please feel free to contact me by phone or email if you have any questions regarding the sale or purchase of a home or property.

This is not to be construed as legal advice. For any legal questions, please consult an attorney that specializes in real estate law.

It Didn't Sell With An Agent - Let Me Raise the Price and Sell It Myself

2008-07-23T16:47:00.000-07:00

It Didn't Sell With An Agent - Let Me Raise the Price and Sell It Myself

Part of my lead generation is talking with FSBO's (For Sale By Owners). I call them, talk to them, visit them and offer them tips. I wish them luck, sincerely. However, 85% of all FSBO listings eventually end up getting listed and sold by a Realtor. I just want them to remember me if and when they do list.

I have been doing this regularly for sometime but I still get responses that amaze me, regardless how many times I have heard them before.

I just got off the phone with a woman who is selling her own house. She does not want to deal with an agent, does not want to offer a co-op. She doesn't want to pay someone else for something she believes she can do herself.

That's fine. I do a lot of things myself, also. But I know what I am doing (ok, my wife might sometimes have a different opinion). Well, I usually know what I am doing.

But this woman does not really understand. Her house (vacant, not where she lives) is an expired listing. It did not sell in 6 months on the market. It was overpriced. Based on comparables, overpriced by about 10% - 15%. I don't know what steps, other than MLS, the agent might or might not have taken to market the place. I don't know if the listing agent set the price of let the seller dictate it.

But what do I know? I know that if it didn't sell the first time, it was priced too high.

So, what is this woman doing? She is selling it herself to save the realtor commission. On top of that, she has raised the asking price by over $5000. Her only marketing avenues (that she is currently using) are:

a sign in front of the house
2 for sale by owner arrows pointing towards the property
a weekly ad in the newspaper

I would like to have told her she more than likely won't sell this home with her tactics. I would like to have told her that her best chance is to trust and use the services of a knowledgeable Realtor. I would like to have told her that she is doing a good job of selling her competition's home. But, at least at this time, she would not have heard me.

I wished her best of luck.

I will send her some tips in the mail. I hope she reads them.

For a copy of my For Sale By Owner handbook, just call me at 706-207-5290 or click on my email link.

So You Want to Sell Your Home – Part 6: Pre-Approved Buyers

2008-07-17T15:01:00.001-07:00

So You Want to Sell Your Home

Part 6 – Pre-Approved Buyers

Your sign is up, your ads are placed, flyers are printed up and posted on bulletin boards and in your info box. You are just sitting back waiting for that call, for that buyer to ring your number. But guess what, you aren’t going to be called by a buyer. You may get called by someone who wants to view your home, but that is not a buyer. You may get called by a Realtor® or agent who wants to show the home but even she/he does not have a buyer on the first call.

At best, anyone calling you for the first time is a shopper, not a buyer. If they call you a second time, they are a potential buyer. You may think this is semantics, but there are some important differences to consider that may help you in the long run.

There are four types of people who may be visiting your home once you have placed your For Sale By Owner sign in your yard. They are:

Shoppers – those who are actively looking for a home they can buy
Lookers – those who just like to look at homes for sale (yes, there are plenty of them out there)
Casers – those who you are protecting yourself from using the techniques in Part 5.
Realtors® or agents – some to preview your home, some to get you to list your home with them

You want to try to get as many of the first, the shoppers, into your home as possible and a minimum of lookers. Why? Shoppers are ready to buy, they want to buy, they are motivated to buy. Lookers are very often not ready to buy, they just want to look.

How do you tell if someone is a shopper? When a person calls you about your home and asks to see it, find out if they are already pre-approved for financing. Note, I am going to emphasize pre-approved, not pre-qualified. They are terms that may sound the same but have very different meanings. Verify that they have been pre-approved and not just pre-qualified.

Pre-qualified simply means that they have spoken with a financing source and have given verbal information to the financer. The financer has done a preliminary check and things look okay on the surface. It is not much different than the pre-approved credit card offerings you may receive in the mail, subject to a thorough credit check. They may be pre-qualified for one amount but the actual amount of loan that they qualify for might be significantly different.

Pre-approved means that the shopper has had that thorough credit check and has a signed document, from the financing company, to that effect. It will also include the amount of financing that the lender will approve. A serious shopper can become pre-approved very quickly, often in less than one day.

Lookers have done neither of these things. If you get a call and they are neither pre-qualified nor pre-approved let them know that you would really like only pre-approved people. If they are really shoppers and motivated to buy, they will gladly get that pre-approval. If Realtors® or agents call, ask them to make sure their shoppers are pre-approved. They should be performing this screening before contacting you.

If the shopper(s) has been pre-approved, ask them to bring the pre-approval letter with them when they come to view your home. If they agree, this is just further evidence that they are a motivated shopper. And what you really want viewing your home are motivated shoppers.

It is up to you how much screening you want to perform before walking people through your home. Limiting access to only those shoppers that are pre-approved might reduce the number of viewings, but it will provide more assurance that those who are viewing are really shoppers and not lookers.

Oh, I almost forgot! When do you get a buyer? When a shopper makes an offer and, possibly after a series of counter offers, terms are agreed to and a sales contract is signed. That is when you have buyer.

Best of luck on the sale of your home. If you have any questions regarding this topic, or any other related to selling your home, please feel free to call me at 706-207-5290. Or email me at athensrealestate@hotmail.com with those questions. I will give you my best answer with no obligation. Although I would love to sell your home, I will not give you a listing presentation unless you ask me to.

2008-07-12T17:28:00.000-07:00

Athens – Growth Abounds

According to the U.S. Census Bureau Athens, GA and the surrounding counties are growing at a significantly higher rate than most of Georgia. With the University of Georgia and it’s music scene the Athens area is seen as a desirable community with a high quality of life.

Atlanta is the only large city in Georgia that has seen a growth rate greater than that of Athens. However, many of the smaller towns nearby have seen even more stellar growth.

The following table, from the most recent U.S. Census Bureau estimates illustrates the population growth during the first seven years of the current millennium:

City	2007 Population	2000 Population	% Growth
Atlanta	519,145	416,474	24.6
Athens	112,760	100,269	12.5
Braselton	3,072	1,206	154.7
Jefferson	7,513	3,825	96.4
Nicholson	1,913	1,247	53.4
Statham	2,820	2,040	38.2
Watkinsville	2,825	2,097	34.7
Winder	13,599	10,201	33.3

Holy Moly - Great Guacamole

2008-06-21T14:42:00.000-07:00

Fresh Ingredient Spicy Guacamole

My wife and I love Mexican food. One of our favorite Mexican restaurants in the Athens area is Agua Linda. I did a blog post about it here. One of our favorite appectizers is their chunky guacamole. I have tried to duplicate the recipe at home and have come very close. I do mash the avocado and blend it rather than leave everything in chunks. But we both beleive it is very tasty. So, if you are out on the town in Athens and crave good Mexican food, go to Agua Linda. If you like good guacamole at home, try this recipe.

1 Avocado - coarsely mashed or chopped

1 medium tomato (a Roma does well) - diced

or about 6 - 8 cherry or grape tomatoes - diced

1 slice red onion - chopped

2 green onions -sliced

5 - 6 sprigs fresh cilantro - chopped

Juice of 1 key lime

fresh Jalapeno pepper - chopped

a dash of fresh crushed garlic

Blend all of the ingredients together in a bowl. Adjust the amount of jalapeno pepper according to how hot you like your guacamole. I do about 4 slices, chopped. You can cool the jalapeno a little by removing the seeds. If you don't want to cut a fresh jalapeno, you can get by with about 4 slices of canned or pickled jalapeno, chopped. All other ingredients should be fresh. Refrigate until ready to serve.

Serves 2. We use this as a dressing to make quacamole salad, as a dip for chips and to put on top of our chimi's, quesadillas, empinadas, taquitos, etc.

We hope that you will try it and enjoy it also.

So You Want to Sell Your Home – Part 5: Security

2008-06-21T14:33:00.000-07:00

So You Want to Sell Your Home

Part 5 – Security Tips: Forewarned is Fore-armed!

You are setting off on an adventure. You are going to sell your home, and you want to do it yourself, or with the help of a limited-service agency. You have just studied up on all the wonderful information I provided on pricing and marketing. Now you are ready to stick out that sign, put ads in the paper and sit back and wait for the calls.

But what do you do when you receive that call? How do you make sure that the person calling really wants to look at your home as a prospective buyer and not for something a little less benign? You don’t, but you can take some steps to increase your safety and security and that of your family and your possessions.

The following is a list of precautions to take before allowing strangers into your home:

For your own safety, never set an appointment with anyone to see your home unless they have given you their name and number and you have called back to verify that number. An easy way to do this is to say. “Let me check with my husband/wife for the best time and I will call you back.” Use this method even if you are not married.
If the caller says he/she is a real estate agent, call his/her office to verify the information. You can also often check out a Real Estate Company website and find a picture of the agent. When he or she comes to the house, get a card. For instance:

I may call you asking to preview your home. I will give you

my name
my company name
my cell number

You should ask for my office number; I will give it to you. (You could verify it by looking it up in the yellow pages, assuming you have the same yellow pages we are listed in).
You should ask if I/we have a website. I would give you:

My website address www.theathensrealestatepage.com
My office website address: greaterathens.yourkwoffice.com where you could then click on “Associates” and find my picture and a link to my website.
The corporate link, if you want it, www.kw.com where you can click on the agent or office search to find both me and my office. (If you search for me you would need to search for Michael Saunders).

Leave the name and phone number of the person requesting to view your home either with someone, such as a neighbor, or in a location that is out of sight but known by someone else.
Never let a caller or looker know your schedule. Don’t ever tell them when you won’t be at home, when your spouse won’t be home, when you pick up the kids, when you work, when you will be on vacation, etc.
Never provide a caller with information about your home’s security such as deadlock bolts, security systems, and so forth.
Always have a back-up plan when you allow strangers into your home, especially if you have children. Have a neighbor look out for you until the lookers have gone.
Never let a stranger into your home without seeing some identification. Keep a log of everyone who has looked at your house. Get their name, telephone number, address, car description, tag number, and any additional information that could be helpful in the event of a future burglary. All of these people would be suspects.
If you make a flyer to advertise your home, don’t include any information that might breech security.
Remove from sight all valuables, including guns, jewelry, silverware, and collections.
Remove any prescription drugs from your bathroom and put them somewhere else.
Never leave strangers alone, and watch their every move while they’re in your home.
Never allow yourself to get cornered. Always have an opening to an exit. Do not turn your back on people you let into your house. Let the lookers enter rooms first. Maintain a distance between yourself and the lookers.
Try to always have someone else with you when you show your home. There is strength in numbers.
Instruct children not to give out information over the phone. Just have them ask for a name and call back number.
If you are using a push button or dial lock box, only give out the code to a Realtor® or real estate agent that you have verified the identity of.

Every one showing a home, man or woman, young or older, should take care and remember these security tips. While not epidemic, there are enough cases of fraudulent buyers that are really only cases of con artists looking to find some valuables they might steal, or worse.

Using a Realtor® should eliminate many of these security and safety concerns. I will pre-screen all persons wanting to view any home, doing everything in my power to make sure that they are potential buyers, not lookers. I will verify that they are both sincere in their search and financially qualified to purchase your (or anyone else’s) home before even showing it.

Best of luck on the sale of your home. Please feel free to call me at 706-207-5290 if you have any questions that I might be able to answer or email me at athensrealestate@hotmail.com with those questions. I will give you my best answer with no obligation. Although I would love to sell your home, I will not give you a listing presentation unless you ask me to.

2008-06-19T15:19:00.000-07:00

What’s in a Word?

Be Careful What You Write in Your Real Estate Ad

The comedian George Carlin had a routine about The Seven Words You Can Never Say On TV. It is somewhat dated. There are at least 2 that are now heard regularly on broadcast channels. You can hear all seven of them on some cable channels. If you really want to know what those words are/were, you can go here.

When you, or your Realtor®/agent, place any advertising for your home there are many more than seven words that can get you in trouble. Federal and state Fair Housing laws regulate against and define any practices that might be considered discriminatory in the sale and purchase of real estate, regardless of intent. These regulations do not normally apply to the sale of your own home unless you advertise. It doesn’t matter the type of advertising, whether newspaper, Craigslist, flyers on a community cork board or any other form of advertising.

What are some of these words? Seemingly benign words can be found to be discriminatory. The word adult, unless it is used to describe a certified adult community, is determined to be discriminatory. So are bachelor, Christian, unemployed, and singles, as well as dozens of other words. Phrases and groups of words such as no children, single person, mature couple, mature individual, and not for disabled can all be considered discriminatory.

There are many words and phrases that are iffy, that depend upon the context in which they are used. They could include executive, handyman’s dream, close to synagogue, and membership approval required.

When you submit an ad to a newspaper, the person reviewing the ad might counsel you on the use of words and suggest alternatives. However, when using internet marketing you are usually on your own. Online service providers are generally considered not responsible for the user-submitted content.

Now, is somebody going to review all advertising and come and fine you or take you to jail? More than likely that will not happen unless there is a complaint filed. Even then it will more than likely be a warning to change your wording.

For a list of words and phrases that may or may not be considered discriminatory go to the Georgia Commission on Equal Opportunity Fair Housing Advertising Word and Phrase Usage List. Just be careful what you say.

If you would like to find out what I can do for you, or, if you just have a question I might be able to help you with, email me or call me at 706-207-5290.

NOTE: The above is not to be construed as legal advice. For legal advice please consult with a lawyer or contact the Georgia Commission on Equal Opportunity.

So You Want to Sell Your Home – Part 4: Marketing Your Home

2008-06-18T12:45:00.000-07:00

So You Want to Sell Your Home – Part 4.

Marketing Your Home

In Part 3 I talked about how you get the most exposure on your home for sale, entice agents, get it listed in the MLS. But how do you attract buyers? The simple answer is the same way a Realtor® or real estate agent does: you market, using one or more venues.

Signs – of course. You want people to see a sign in your yard--it lets all the passersby know your home is for sale. But, if you live at the end of a cul-de-sac, there are not a lot of passersby. But the sign is still a good thing. It lets your neighbors know, and they might tell someone who wants to buy a home. Believe it or not, there are some people who don’t want a sign, who don’t want the neighbors to know. Your for sale sign should show clearly how to contact you, or your Realtor®. Your (or your Realtor’s®) phone number should be large, prominently positioned and readable by people driving by. The sign should be about 24” wide and 30” tall, with colors to attract attention.

Information tubes or boxes. Yes to them, also. Make sure your Realtor®, or you if selling yourself, places a weather-tight information box or tube on or adjacent to the sign. It should be positioned so that someone passing by will see it and hopefully stop and pick up a flyer. Speaking of flyers, keep the box stocked, but not too full to get a single flyer out. Make sure your Realtor® supplies you with extras in case the box runs out before she (or he) can get back to refill it.

Newspaper ads – if you are having an open house, definitely. For any other occasion, if you want to spend the money, go ahead. You pay for the ad each week based upon the number of lines and column inches. A picture will also be extra and is usually in black and white. The ad may also be found on the newspapers web site. These ads sometimes attract buyers, but, the first place most buyers look today for information on homes is….

The Internet – absolutely a yes. Recent studies have indicated that over 90% of buyers first use the internet to search for a home. And what is the most effective internet tool? At the risk of sounding like a broken record, it is the MLS. Not just for Realtors® or agents but also for buyers. Many MLS systems today now have public search capability where all the real estate “civilians” can search by state, county, city, neighborhood, street, etc.

However, the bonus to this is that many Realtor® MLS listings are also fed to other internet sites, including the Realtor’s® own web site. You can search the local MLS at my site, as well as review my featured listings if you want. But, people can search and find your home on almost every local Realtor’s® web site.

There is another bonus. Many Realtor’s® MLS listings are also fed to large national real estate and home search sites, such as Realtor.com and Trulia.com. I, and many other Realtors®, also forward these listing to many other real estate home search sites with both local and national (even international) exposure.

Some of the help-to-sell-your-own-home companies will also include your home on their own web site listings. Before selecting any company, whether a full service realtor or a help to sell agency, ask how big of an exposure on the web they provide, whether just on MLS, on their specific site listings or to the major real estate search sites (ask which ones specifically) across the country.

You can also upload your homes information to many of the major national real estate sites. This will be on a one site by one site basis, contacting each site separately and uploading or entering data. Many are at no cost for a basic listing with fees for certain features like additional pictures, featuring (prominently positioning your home), etc.

There are many other alternate internet marketing practices you can take advantage of. Sites like Craigslist that offer free ads. On Craigslist you can list your home with up to 4 pictures at no charge. You need to refresh or even replace your ad at least weekly to keep it near the top of the list. Many people will only look at the most recent ads. You also need to be ready to get calls from people who might be interested in more than your home. Many may be trying to sell you something. Others might have different motives. Craigslist does have a comprehensive page of scams and warnings to look out for.

One final option I will mention is a “Single Address Web Site”. This is nothing more than a website you, or your Realtor®, or someone else you hire, can build that exclusively displays your home. All the information and pictures you want to include, all there at one site on the web with a URL in the form of www.yourhomeaddress.com. This is a relatively new service but does look very interesting.

So, there we have it, a myriad of ways to market your home. Each of these marketing tools requires work to initiate as well as constant tweaking and upkeep to keep fresh. You can do it your self, or you can use a full service Realtor®. Or, you can hire someone else to do all of the marketing work for you. The main thing to remember is to do what you can in order to get your information out in front of the broadest audience possible. Remember, the biggest audience is the population of local Realtors®, and, to some extent, every Realtor® in the country. Those Realtors® often know someone moving to your town or county and will help them become familiar with the properties available. Then there are the buyers. To be successful you need to reach both groups.

If you would like to find out what I can do for you, or, if you just have a question I might be able to help you with, email me or call me at 706-207-5290.

So You Want to Sell You Home - Part 3 - Getting the News Out There

2008-06-06T13:11:00.000-07:00

You, on your own or with your REALTOR®, have decided what price to ask for your home. Now what? How do you get the word out? How do you reach people? How do your neighbors, the people around the corner, those who live across town, people in Timbuktu find out about your home. How do you get the greatest audience to know that your wonderful home, the place you raised your kids, remodeled with your own hands, landscaped, painted and kept immaculate is on the market? In other words, how do you get buyers to the door?

OK, I am going to skip listing all of the things you could do, which sometimes work and sometimes don't work. I am going to cut right to the chase and give you another question. Who should you be targeting in order to get that parade of buyers started? The answer is simple, REALTOR's® and real estate agents (yes, there is a difference) representing buyers. Well over 90% of all home purchases are by buyers using REALTOR's® and real estate agents. Whether you are selling on your own, using some sales assistance service or using a full service REALTOR®, the main target of your marketing should be those people who are representing the majority of buyers.

That's the secret, like I said, it's simple. To get the most buyers, get the attention of the professionals representing those buyers. But how do you get their attention. That is also simple, use the local Multiple Listing Service, or, MLS. The MLS is major tool of real estate professionals trying to match-up buyers with the homes of their dreams, and that could be your home. Yes, it is true, you cannot place a listing in an MLS on your own. You do need to use either a full service REALTOR® or a limited service help to sell company to get your home into the listing service.

In this area there are two primary MLS services. If you elect to use full service representation your REALTOR® should be placing your listing into both services. This assures the broadest audience of agents for your home. This will usually be at no cost to you the seller until when (and sometimes if) your homes sells. If you use a limited or partial service firm, you will usually pay up front for the listing. This usually averages around from $400 to $500, per MLS. Find out upfront which MLS the limited service firm will be using and for how long the listing will be valid.

But there is still one more thing you need to do to attract those agents. Again, it is no big secret, to attract agents you need to offer co-operation or protection. This can be a percentage of selling price or it could be a flat fee, but, it needs to be clearly stated. If you are using a full service REALTOR®, like me, for instance, this co-operation will be included in my fee for selling your home. I will fully disclose what that co-operation figure is before you sign any papers. Whether you use full or limited service representation to get your house on the MLS, that amount of co-operation will be listed (you will have to inform your limited service listing provider what figure to put into the agents co-operation). Either way, it is a contracted dollar amount or percentage and cannot be renegotiated after a sales contract is in place.

No, I am not trying to direct you into using a full service REALTOR® or even to use a limited service to assist your sale. However, studies continually show that homes sold through a full service REALTOR® sell for more and faster than purely FSBO. And, whether you use full service or limited service, homes sell faster when listed on local MLS.

To sell your home, you best bet is to attract a REALTOR® or agent representing a buyer. To attract that agent, you need to offer an enticement, the co-operation.

Next time I will address marketing your home, whether on your own or with a full or limited service REALTOR®. Now that agents have been attracted, how do buyers get attracted?

So You Want to Sell Your Home - 2nd in a Series - Getting the Price Right

2008-06-01T17:06:00.000-07:00

So You Want to Sell Your Home

Part 2 Getting the Price Right

In part one I finally got around to talking about what factors influence the price, or market value, of your home: location, condition, market. In this installment, I will demonstrate how to use those factors to arrive at an asking price for your home.

The best known method (bkm) for determining what your asking price should be is a CMA, Comparative Market Analysis, sometimes shortened to “COMPS” (comparisons). This is nothing more than establishing the current market value of your house by comparing it with the selling price (less concessions) of similar homes, in your neighborhood. To best reflect the current market, those comparisons should be from within the last 3–6 months and include current listings, listings that did not sell, as well foreclosure and short sales (homes that are in pre-foreclosure that require bank approval to sell for less than what is owed).

For the person doing it on their own, this could be a somewhat long and tedious process. You need to do the research on your own. Unless you have access to MLS data (Multiple Listing Service - you need to usually be a member of the MLS to directly access this information) you will need to access public records. In the Athens-Clarke County area, as well as each surrounding county these records can be found online. You will have to look up each property individually and determine whether they are valid comparisons. Tax information will not provide any concession information. (Concessions are items the seller agrees to provide for the buyer at closing; they could include paying all or some of buyer’s closing, allowances, etc.)

If there are not enough comparable properties in your neighborhood, you will need to expand your search to similar neighborhoods and search their recent sales and current listings for comparisons.

Once you have that information, adjustments will have to be made, up or down, to the selling price of the comparable homes. Do they have more or fewer bedrooms, more or fewer baths? What’s the difference in square feet? Do they have basements, what are their lot sizes, how’s the landscaping, what are their conditions? These are just some of the considerations we use when developing the comparisons.

After making all adjustments to the comparable properties, a weighted average will be made to determine the asking price of your home. By weighted average, I mean that the home that is most similar to yours will count most in the averaging process. The home that is least similar will count the least in the averaging process.

An alternate way to determine selling price is the square foot method. It is a quick way of arriving at a price. Basically, it entails dividing the selling price by the square footage of the homes being used for comparison. While it is quick, it is much less accurate (unless you are comparing condos, or other identical homes with external variables). However, it is a great tool for establishing replacement cost in the event of a fire or some other unfortunate event.

There are 4 ways to get this CMA performed:

Do it yourself.
Get a “Market Report” from some realtor site or a company that will help you, as an owner, sell it yourself.
Hire an appraiser.
Have your real estate, or listing agent, provide that as part of his/her service.

Do it yourself: You can do it yourself, but, again, unless you have access to an MLS system where you can get sales histories and all the data regarding concessions. This could be a time – consuming process. Tax records will provide sale price, but they will not provide concession information. Neither will they provide details on condition, amenities, etc.

Request a Market Report: Many realtor websites, as well as those sites that help you to sell, often have a link where you can click to get a market report. Find out what method is being used to generate these market reports. Some may just use the square foot method. Whichever process they use, it is almost always done remotely from searching MLS records. There is no first-hand knowledge of the condition of your home or the comparable homes. They don’t know the condition, they haven’t seen the yard, they don’t know the amenities. They are using only the numbers available to them. While this might get the pricing into the ball park, sometimes that park can be pretty big (remember the line from Major League – “There are some parks that wouldn’t have been a home run in.” “Yeah, name one.” “Yellowstone.”)

Hire an appraiser: You can pay an appraiser to do a market price evaluation for you. This will be for a fee which will vary depending upon where your home is located, the size, etc. The appraiser will use the CMA method described above (or something very similar) including capturing concessions, etc. He/she will tour the property and be very familiar with it, able to accurately include condition, amenities, landscaping, etc. in determining market value.

List your home with an agent: The listing agent (LA) will perform the same tasks as the appraiser. The agent will probably also have the advantage of personal knowledge of the comparative listings. Conscientious agents will have previewed many, if not all, of the homes that have sold, or are for sale, in the neighborhood that are being used for comps. This allows the agent to account for condition, landscaping, amenities, etc. in the comparable properties. This service is included in the commission the agent gets when, and if, the property sells.

Conclusion: In today’s market, price is extremely important. If your home is priced too high, you will have few, if any, lookers. If it is priced close, but still high, you will have lookers, but you will probably not get offers, or it may stay on the market for longer than a home priced correctly (or both). If it is priced correctly, it should sell. And, it should sell within the average days on market for homes in your area.

Whether you sell it yourself or with an agent, make sure the asking price is right. Asking price is the invitation that brings potential buyers to your home. The right price is what turns that potential buyer into an actual buyer.

So You Want to Sell Your Home! First in a Series

2008-05-31T05:25:00.000-07:00

So You Want to Sell Your Home -

You wake up today and decide it’s time. You need to downsize. You need to upsize. Whatever the reason, it’s time to sell your home, one you may have lived in for 30 years or one you may have just bought last year. So now you find yourself with the questions:

Should I do it myself?
Should I use an agent?
Should I do something in between?

This is the first in a series of blog articles I will be writing that I hope will help you answer that question. And help you to get from “for sale” to “sold”!

Disclaimer: I confess, I am a Realtor®, but, I am going to try to be objective and open, providing pros and cons of all three options. If you feel that I am skewing one way or the other, the comments section is open. The opinions I express are my own and not necessarily those of the brokerage that I work with, nor of other Realtors®.

Getting back to the original list of questions, the answer to each is yes! But then again the answer is no! No. I am not being wishy-washy. There is no one size fits all answer to those questions.

I like doing things myself. I like to make things out of wood. I like to grow my own tomatoes. I like to cook (but I hate cleaning up). I won’t do plumbing. I won’t do electrical work. I used to like working on my own cars, but, today’s automobiles are so much more complex, I have a mechanic who has the latest tools, who has kept up with the latest technologies do that. Selling a home has gotten a little more complex, also.

Now that I have your attention (or have driven you away), let’s get the first, of many, concerns out of the way, or, at least discussed. In today’s market, the major selling point is Price! It’s not just location anymore. I will try to address price in two installments. The first, today’s installment, will cover what three things determine price. In the next installment, I will cover how we use those factors to get to price, or market value, of your home.

How much should I sell my house for? How do you go about establishing a price for your home? Before I answer that question, let me point out some of reasons that shouldn’t be used to price your home.

I still owe $XXX,XXX on my mortgage. The market value of your home, the price people will pay, has absolutely nothing to do with what you owe on the home.
I spent $50,000 on improvements. Many improvements, or upgrades, will not pay for themselves in the sale of a house.
I need to net $XXX,XXX on the sale. The market value of your home, the price people will pay, has absolutely nothing to do with home much you want to make on the sale of it.
My brother in law says it’s worth $XXX,XXX. Unless your brother in law knows how to appraise property, he is most likely wrong.

But how do I price the house: There are 3 factors that determine what the market value of your home is. They are, in no particular order:

location
condition
& the market itself.

Location, location, location: Most of us have heard that phrase. It was meant to say that location is the major determination of price and desirability of a home. Yes, location is important, and too some, for the right location, price is no object. However, for most of us, price is determined by our budget, so, maybe we place a little less emphasis on location.

Condition: The condition of a home, and its’ surrounding yard or amenities, are almost equally important. Most buyers want move-in condition. They want the moving van to pull to the door, their furniture to be unloaded and arranged, their boxes unpacked. They don’t want to paint, re-carpet, re-landscape, etc. If your home isn’t in move-in condition, the market value is reduced.

The market itself: The market value of a home changes all the time. It is determined by the market. In a sellers market, prices tend to go up quickly, homes sell quickly. In a buyers market, prices don’t go up much at all (and, like today, in many areas, they go down).

Here, in the Athens area, we have been fortunate enough to have a somewhat neutral market. Sales have slowed, but prices have remained somewhat stable. While values have not significantly risen, in the last year or so, they have not significantly dropped. This could change if more foreclosures come on the market, or more buyers enter the market, or, fewer homes are up for sale.

Well, there you have it, all you need to know about pricing a house. Ok, maybe not. In the next installment, I will try to make sense out of how to use these 3 factors to get to an asking, or listing, price for your home.

Agua Linda Mexican Restaurant

2008-05-27T15:33:00.000-07:00

AGUA LINDA Mexican Restaurant

My wife's favorite food is Mexican. (Ok, I admit, I enjoy it also). That is why we were so glad to discover Agua Linda Mexican Restaurant's recent opening at the junction of Timothy Rd and Atlanta Highway

The staff is friendly, courteous and efficient. You will be greeted as you come in and quickly seated in the fair sized dining room (OK, sometimes there is a wait; it is a very popular spot, especially on Mariachi Wednesday). Or, if you prefer, you can seat yourself at the bar or one of its’ bistro tables, where, Oscar will pour you an excellent Margarita (rocks, no salt for me) or your refreshment of choice.

The menu is a selection of classic Mexican dishes with influence from the various styles of Mexican cooking. Our favorite appetizers are the “Chunky Guacamole” made at time of order from fresh ingredients. If you want hot, just tell your server and you will get extra fresh sliced jalapenos. We also like the poblano cheese dip, melted Mexican cheese with sliced poblano peppers (very mild but very flavorful).

My wife’s favorite dish is their Mexican-style chicken taco: tastily seasoned chicken, onion cilantro & pico de gallo all spread over 2 heated soft corn tortillas. I prefer the burritos, beef, of course (the medium is plenty big for me). They have many additional appetizers and entrees, as well as various combinations you can choose from (including some you can customize).

You can often find the manager, David Perez, (graduate of the Florida Culinary Institute and former chef at the Mar-a-Lago resort in Palm Beach) pictured with Andrea Zinno, wife of Juan Bonomi, one of the owners, to stop by your table to make sure that everything meets both your’s and his standards. He might also tell you about his Mexican artwork collection (including some Helguera prints).

Quite often you will also find the owners, Juan & Manuel Robledo helping out behind the bar or walking through the restaurant greeting customers.

There is one other Agua Linda, located on Prince Ave. that has been around for quite a few years. The menus are similar, but not identical, but the food there is also good.

If you want good Mexican food in Athens, my wife & I both highly recommend Agua Linda. We eat here often. We rate it 5 chilies.

Athens Area Real Estate Market Picking Up?

2008-05-14T17:09:00.001-07:00

Yep, that's so, at least according to the Athens Area Association of Realtors. The last month has shown a significant upturn in listing and buying activities. This mirrors what is happenning at the office I work out of, Keller Williams Realty of Greater Athens.

Athens has not suffered the same severe downturn in value that some of Georgia and other parts of the country have (yes, it's true, the news isn't all bad out there, no matter what you have read in the papers or seen on tv). Average home sales prices here have risen about 1%, or so, over the last year. Yes, volume has been down, average DOM (days on market) is still high, and, there have been more foreclosures than normal (for this area while not approaching the terrible problems of many areas), but, our home values have still risen.

Is this just a blip or is this an indication of better times might finally be here again? Too soon to tell for sure, but based upon the increasing levels of activity here, and some better news coming out regarding credit and the sub-prime issues, perhaps that just might be so.

Now, if we could just lower those gasoline prices somehow.

Avoiding Credit Theft - You Can Do It

2008-05-13T17:33:00.000-07:00

Ok, I really thought that my first blog would be about Real Estate, however, I was listening to the radio today and heard that the guv has signed into law, the Credit Freeze act for Georgia. (That's my name for it, I am sure that there is some bill number official title for it). It went into effect today. What a great thing to for you, it protects you, and, doesn't raise your taxes.

You may have heard or seen ads for companies that charge you $10 (or thereabouts) to protect your credit. What they are, in effect, doing is freezing your credit. Something that you can now do yourself, because of this new law, very easily, and, for a lot less money (in the long run). The new Georgia law allows you to freeze your credit for $3.00. Ok, $3.00 to each of the major credit reporting agencies. Since there are only 3, that's a total of $9.00! Less than one month's fee to have someone else do it for you.

What is "freezing your credit"? Well, it is nothing more than not allowing anyone to access your credit files, with the 3 major credit reporting companies. When this is done, nobody can open up an account in your name using your social security number, address, etc. It denies access to your credit information. (It doesn't keep someone for using your social security number for some other reason, but, they can't ruin your credit by opening accounts in your name and charging up 10's of thousands of dollars). Your credit is safe (well, except from you).

There is on drawback. Anytime that you want to apply for something where they check you credit report (i.e. - a credit card, a job, insurance, etc) you will have to unfreeze your credit. No big deal. Just ask which of the 3 major companies is used, by whom you are applying to, and do a temporary "thaw" of your credit at that company. When you originally freeze your credit, you will get an access code that allows you to thaw it. Yes, it costs your $3.00 to thaw your credit with that company, and, $3.00 to re-freeze it (unlike hamburger or fish, credit keeps it's freshness after repeated freezing and thawing).

As a side benefit, you also end up getting fewer (almost none) unwanted offers of credit, etc. Ok, some people may like to get them). Just think of the trees you could help save by not getting all that paper in the mail.

Not to mention your credit score! (And all for a lot less than $120 a year).