As the Atlanta summer heats up, so does it’s Real Estate market.
As the summer has been heating up, so has the Atlanta real estate market. This summer is proving to out smart many “experts” predictions of slower sales. Yes, it is true…more sales occurred in May and June of 2011 than May and June of 2010 (which were the two best closing months in 2010). The number of homes currently on the market has greatly reduced. But that quite hasn’t translated into price increases largely due to the number of short sales and foreclosures…good news… short sales and foreclosures are selling! (Yay! to getting those bad boys off the market!!)
Let’s Grab Coffee and Discuss Great Opportunities
The market is really in the eye of the beholder- and the beholder in this case, is the one who can see the market in its many facets of opportunity. Last month, I thought I could write in this July e-newsletter about what areas are selling better than most. Well, as I started to write my analysis, I quickly realized that I would cause many to have bobble heads from dozing off while trying to read my facts and figures. And boring you is not my desire. But I do have answers. Call me…we’ll grab coffee or lunch and I can specifically answer your questions. 404-964-2060
“So how do I maximize this market?”
The chart below show how low rates increase buying power. Low interest rates and low prices are once again making homes affordable! Now is the time! You can now have MORE home for LESS payment. If you’re considering an upgrade, you are now able to do it for less. If you love your home and want to stay for years, refinancing may be an option… Call me, I can discuss with you in detail the best options suited for you and your family.
I believe there is actually a lot of pent up demand for buying. Many people would like to buy but feel they can’t sell or will have to take a loss in their sale.
“I want to buy, but need to sell first. Should I sell at a loss?”
This is a question I get often. So many people come to me questioning how they can buy when they currently bought a home at higher price than what it would sell for today. The desire to take advantage of the low rates and unbelievable prices really excites them. Here’s my answer, If you have the financial means (which means equity in your home and/or savings to pay off your home), then don’t wait…sell now and take the loss. Inventory is lower than months ago. Interest rates are incredible. You’ll benefit from both. And the new home is definitely selling at a lower price than just a few years ago. Yes, it is mentally hard to accept selling your home at a loss, but remember you will also be buying at the bottom.
I can help you strategize…
If you are not quite yet in the position to sell at today’s price but you want to buy, let’s talk strategy. It may be a short term goal of diligently saving or paying down your mortgage balance that will make your buying dream possible. There may be some programs that fit you too.
If you have lived in your home about 10 years (some areas less time), then you could be free and clear to sell without loss.
For those you know who are struggling, call me for a confidential conversation. There are options. I’m here to help.
Once this pent up demand is able to be released at a moderate level, we’ll begin to see prices rise. The question will be…were you able to make the most of these low rates and low prices?
Exterior Home Maintenance For Hot Summer Months and Heavy Rain
Preparing for hot summer months and heavy rains in Georgia is important for home owners. In this issue of “Ask The Builder” I went to Strong Rock Homes in Lawrenceville, GA to ask Chief Operating Officer, Bobby Mink and Home Builder, Jeff Causey, for some exterior home maintenance tips to get through the heat and rain.
From Bobby:
If you have Bermuda sod you may see little silver dollar sized dead spots in your yard. This is a summer fungus. If you go to Home Depot or Lowes and purchase a dollar spot fungicide and spread it on your lawn, the spots will be gone in a few weeks with watering or rain.
From Jeff:
“Check Your Perimeter!” – Heat infiltration can increase energy expenses greatly. Add up all the small openings from worn and damaged weather stripping, as well as windows and doors that don’t close properly and you may find the total would be equal to leaving a window in the open position.
“Hot Spots” – Thermal imaging, “A thermometer with eyes” will show in video the areas that are leaking air and as well as areas that are insufficient or lacking in insulation. Let us know if you would like to be scanned for Hot Spots.
“Drenched” – Heavy rain can save irrigation expense if there is a sensor connected to your irrigation system. The sensor tells the system it has rained so there is no need for the sprinklers to activate. Most irrigation controllers will receive the connection of a rain sensor.
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Who do you know that needs help finding a new home? I’m here to help! Call my direct line 404.964.2060
A lot is being said and reported about the “state of the real estate market.” So let me take the mystery out of the questions and put some speculation to rest. Yes, there are several positive market indicators which show that Atlanta may be in recovery.
Here’s My Recovery Recipe: 3 Ingredients
1. More Closings in 2011
First and foremost, more closings took place every month this year in 2011 than the same time last year in 2010. The tax credit was still in full effect the first part of 2010. So without a government incentive, there is a natural increase of demand in 2011 that turned into sales. Probably the biggest incentive has been the low prices and incredibly low interest rates (still in the high 4% for conforming loans).
2. Foreclosed Homes Decreasing
Second, the number of homes being foreclosed upon is also decreasing. That fact translates to less future distressed homes coming on the market months from now.
3. Less Homes On The Market (And 3 More Things To Take Note Of)
Third, the once very high inventory of homes on the market is coming down. Atlanta Metro had 11 months supply of homes on the market in December 2010. The inventory decreased to 9 months supply in May 2011. This also tells me a few things…
More people are feeling confident in the economy that it is time to buy and take advantage the low prices and low interest rates…
Sellers are doing what it takes to sell or they are opting to not put their house on the market…
And houses that have tried to sell over the past year have adjusted appropriate and are getting offers.
Home Prices Still Lagging, But…
All of these facts set the stage to the market positively turning and the recovery beginning. Still lagging behind are home prices. Prices are still dropping in some aspects of the market. It may be another year before we start to see home prices increase. I attribute the low prices to distressed sales- short sales and foreclosures. 46% of all closings in the 1st Quarter of 2011 were distressed sales. That makes sense as distressed sales are often the best deals. And non-distressed sales had to compete with the distressed sale, causing home values to remain low. As these distressed sales come off the market (more are closing) and fewer distressed sales coming on (decrease in foreclosures), home prices will come up.
Atlanta Is Still Growing…
Will we be looking back a year from now with that 20/20 perspective and mark the first half of 2011 as the beginning ofAtlanta’s real estate recovery? I think so… (Remember, when you hear the national news report, they are speaking of averages. That is like saying the national temperature is 80…and all of us know that we are experiencing upper 90 degree weather these days. That being said, national averages don’t reflect reality well.) While Atlanta still needs more jobs to bring back the roaring market, we are still a growing city still attracting talent and companies. With the level of activity I’ve been seeing, I eagerly look forward to the statistics this summer will report.
What Does This Mean For Me? [Buyers, Sellers, and Homeowners]
If you or anyone you know has been on the fence to buy, this is the time to move forward. Prices are low and interest rates are at historic lows. And rent prices are starting to increase. For homeowners who want to move up in home price or move into their more permanent home, it is worth taking the hit on the list price in order to take advantage of the low price/low interest rate when purchasing their next home. Sellers should consider their local area and choose an initial listing price that reflects a high value compared to competing listings. Last but not least, should you or anyone you know finds them self in a distressed situation, there are options. I am here to help and provide a confidential consultation.
Quick Answers From Kelly
My Next Post In This Series…
Next month I’ll speak more on house prices and what areas of Atlanta are experiencing the most recovery and change. If you have questions I’d love to help you. Contact me and I’ll get back to you! Click Here: Quick Answers From Kelly
Ants have a pinched waist, while a termite’s waist is broad and without constriction.
Ants have bent, elbow-shaped antennae, while a termite’s antennae are straight.
Ants’ wings are larger in front, while termites have four wings that are all the same size and shape.
Treating and Preventing Termites in Your Georgia Home
In Georgia, the most common termite is the Formosan Subterranean Termite which is from China and is known to be among the worst termites in the world! They are found as Swarmers or Soldiers and build mud tubes on crosstie walls during May and June (Swarm Season).
If you spot these Formosan Subterraneans near your home, University of Georgia’s College of Agricultural and Environmental Sciences wishes to offer cost-free assistance in ridding them for homeowners and will work with your Termite Control professionals. Go here for more details: http://bit.ly/ridtermites
The best treatment for termites is PREVENTION! But first…some more facts:
A single colony can completely consume 2.3 linear feet of 2×4 pine in a year. Not so great if that 2×4 is holding up your house!
Where there is one colony, there are others. So times that 2×4 by four or five!
Termites cost about $1 billion in damages each year to homes across America.
What Termites Need to Keep Alive:
Soil. Wood. Water.
Hmm, no wonder they love houses!
Prevention Tips:
1. Identify and fix internal and external water leaks in your home.
2. Remove heavy brush growth around your home. This causes moisture which is yummy to these little stinkers.
3. Get rid of standing pools of water around your home.
4. Store excess building materials and firewood away from the house or store them on thick concrete slabs / heavy duty metal stands to keep extra wood off the ground.
5. Use treated lumber for any wooden structures that will have direct contact with the ground and use concrete supports.
6. Try not to use mulch near your home. They provide wood and moisture for termites. Try a non-wood / cellulose free such as rubber type of mulch. Usually available somewhere like Home Depot.
7.Never bury waste lumber or wood scraps in your yard.
8. Remove dead trees, wood stumps, and roots in your yard. They attract the termites as they decay and once termites are done eating those they’ll gladly munch on your home.
9. Seal any cracks or holes in your home’s foundation. It’ll keep other kinds of bugs out, too. Score!
10. Keep your gutters clean.
11. Make sure your home is properly ventilated. Good airflow keeps the moisture from building.
12. Get periodic termite inspections. Once a year is good. Specialists can see if you are missing any prevention steps.
A 4-minute video on Treatment and Prevention from Terminix
For More Termite Information Visit These Sites and Articles:
Pestworld – Nonprofit Org For Pest Control – Types of Termites Info: http://bit.ly/pestworld
Living in serenity is attainable in the heart of Buckhead. 28201 Plantation Drive NE Atlanta, GA 30324 is such place. This lovely 2 Bed/2Bath condo in the Plantation at Lenox community is a Buckhead bargain with the offering price of $150,000. The Plantation at Lenox is a gated community situated on 30+ acres of wooded ground with ponds, waterfalls, walking trails, and park. This condo is minutes from Lenox Mall, Phipps Plaza, Restaurants, Shops, I-85, GA400 and so much more. It’s hard to believe you can have so much natural scenery amongst the convenient Lenox Road location.
What also sets 28201 Plantation Drive apart from other condos in Buckhead and even amongst Plantation at Lenox is the size. At over 1500 sq. ft, this condo offers so much space for so little.
The living room is graced with a built in fireplace. Roomy for two couches, several chairs, or a sectional, it’s a great space to unwind or entertain. The living room opens to the balcony. The new carpet, light fixtures, ceiling fans, and fresh paint makes this condo move-in ready.
The kitchen has ample cabinet space including a built in wine rack. The appliances are stainless steel and newer. The separate dining room can fit large or small tables.
You’ll love this master suite. The bedroom with sitting room area stays light and bright with the sizeable windows. Fit all of your large bedroom furniture sets in this large space. It’s easy to get ready in the morning with the double vanities and separate shower in the spacious bathroom. Or relax in the evenings in the oversized garden tub. Stay organized with the custom closets in the master walk-in closet.
The second bedroom is perfect for guests, roommates, or a home office. Its roomy size can serve multiple purposes. The built-in bookshelves add the orderly touch.
While the 28201 Plantation Drive offers so much comfort, the Plantation at Lenox community has features that make this a unique community. The clubhouse can host your parties and gatherings. The pool is open in the Spring and Summer. Walk along the trail for fresh air and exercise. This building in the Plantation at Lenox community offers full time concierge services. This is the only building within the community that provides such a service. The concierge will check guests in, receive packages, call for a taxi, and even help bring groceries to your condo. It’s luxury living for any lifestyle.
Come view this condo for sale. Call Kelly Chancy with Keller Williams at 404.964.2060 or email KellyChancy@kw.com.
It’s all in the details! 3611 Mayfair Place Atlanta, GA 30342 is listed at the amazing price of $849,000. Thoughtfully renovated in 2005 home, this spectacular home is a family delight and an entertainer’s dream!
This 6 Bedroom and 6.5 Bathroom home is situated in the Cul-de-sac in one of Buckhead’s rare swim/tennis neighborhoods. This is easy living in the Award winning Sarah Smith School District! The fully finished basement has a billiard room, media room, and cedar closet. There are gleaming hardwood floors on the main level with carpet upstairs and in the basement. One-of-a-kind backyard retreat features stone fireplace, relaxing waterfall, patio, & level green space places this home above the rest!
Throughout the home are ceiling mount Bose® speakers and hidden Bose® speakers in the backyard; all controlled by Niles® Control Panel. The control panel allows you to select your favorite radio station or CD to play throughout the home, or the room you’re in, or a different radio station in each room.
Enjoy cooking and eating on Granite Counter Tops with Raised Breakfast Bar under the recessed can lighting. Everything is Top of the line in this gourmet kitchen. The Appliances include Sub-Zero® Refrigerator with custom cabinet finish, Viking® Stainless Steel Double Ovens with warming drawer, Thermadore® Gas Cooktop , GE Monogram® temperature controlled Wine Refrigerator, and Kenmore® Dishwasher.
There’s a Wet Bar Sink with Instant Hot Water. So much space for storage in the raised custom cabinetry.
The oversized first floor master bedroom is graced with built-in bookshelves and cabinets. Custom closets can fit any wardrobe in the his and her walk-ins. The spa like master bathroom expresses exquisite taste and practicality with the Granite double vanity with ample counter top space, large marble shower with upgraded shower head and built-in seat, imported marble tile flooring, separate jetted Jacuzzi® Tub, and recessed can lighting with dimmer switch for added ambiance.
All secondary bedrooms are large with their own private baths. All have ceiling fans and large closets.
One-of-a-kind backyard retreat features stone fireplace, relaxing waterfall, patio, & level green space! Oversized flat backyard is Fenced for maximized privacy and secured area of pets.
Professionally designed landscaping with 400 foot stone retaining wall. Moon lighting in trees and throughout the yard glows at night!
Four hidden rock speakers create musical ambiance. The water fall was designed by Atlanta Water Gardens. Everything thought through including the underground Irrigation System and well planned systematic French drains.
For more information…Call Kelly Chancy at 404.964.2060. This home is…A must see!
It’s officially summer. And Atlanta is living up to its Hot-lanta reputation. While the long, hot days can mean higher utility bills, there are simple everyday steps you can put into practice to cut back on your energy consumption and reduce your energy bills.
The average home spends about $1,900 a year on energy costs. Here are some tips that can help bring that $ amount down:
Quick, Simple Everyday Savings:
Let Your Dishwasher Do the Cleaning- Yes, surprisingly your dishwasher uses less water than hand washing your dishes. Only run your dishwasher when it is full. For more savings, let the dishes air dry. If you chose to use the heat dry setting, run your dishwasher at night as to not add to the daytime heat inside the house.
Postpone Doing the Laundry- Do your laundry at night to avoid generating extra heat in your home. Extra heat could cause the AC to kick on.
Cook Quickly - The microwave uses two-thirds less energy than your stove or oven. Countertop appliances use a lot less energy as well. So if it is not a gourmet kind-of night, cook in your microwave or with countertop appliances.
Or Cook Outside- Nothing says summer than grilling out. Give yourself a reason to cook outside. And you will cut back on your energy usage too.
Program Your Thermostat- Program your thermostat when you’re at home to 78 degrees and to 85 degrees when you’re away. There is a 1-3% savings for each degree set over 72.
Adjust the Water Heater Temperature- Turn the water heater down to 120 degrees Fahrenheit. This will save energy and reduce your bill.
Pull the Shade Down- Close the blinds, drapes, and shades during the day. This will keep the sunlight from heating up the home.
Stay Unplugged- We’ve all been told to turn off lights, computers, printers, electronics, appliances, and other equipment when not in use. But to save more, unplug your computer, printer, electronics, and chargers once finished. Most new electronics use electricity even when switched “off”. For convenience, plug your electronics into a power strip and turn off the power strip.
Replace Air Filters- Dirty air filters can restrict the airflow causing the air condition system to work longer increasing energy use.
Seal Your Home – Check your doors and windows. Add weather-stripping, sealant, and caulk where the doors and windows allow air to escape.
Time the Use of Your Attic Fan – The attic fan can force out hot air. There are more effective and efficient times to let the fan run. Use the fan after sundown when the outside temperature drops below 80 degrees, and use it early in the morning. The attic fan will help reduce your air condition use.
Make Good Energy Investments:
Don’t Just Buy Energy Star® Appliances – It goes without saying that it is good to buy Energy Star® appliances for your largest appliances such as your Refrigerator, Washer, Dryer, and Air Conditioner. But Energy Star® offers more. Buy Energy Star® table lamps, light fixtures, programmable thermostat, and compact fluorescent light bulbs.
Stay Cool on Your Patio- It is possible to enjoy a Sweet Tea on your patio in the summer. By installing patio covers and awnings to shade the patio, it’s possible to enjoy the outdoors. The covers and awnings will keep the house cooler from the sun.
Go Up into the Attic – If your existing insulation level is R-19 or less, it’s time to upgrade by installing R-30 insulation in your attic. This will save about 10% of your energy use.
Peep Through Your Windows – If your windows are single pane or need replacement, install Energy Star®, double-paned windows. This will make your home more comfortable year round and provide up to a 10% savings on energy.
We’ve all had it happen. We’re driving to work…Or out to meet friends…and we’re possibly sitting in Atlanta’s traffic when we hear that illustrious chime alerting us that a text message has come in. Who could it be? Is that message something important? The curiousity is getting to us. Well, starting July 1st you will now be breaking Georgia state law if you check or respond to that message.
As a Realtor who’s in my car all the time, distracted driving is an issue worthy of attention. And the temptation of checking and sending text messages is real. With the increasing number of accidents and deaths due to distracted driving, the government decided to take action. This blog is not to debate whether the law is reasonable, enforceable, or even a good idea. But I merely want to inform you of a new law that we will affect all of us.
The State of Georgia passed two new laws and it was signed into law by the Governor on June 4, 2010. The intent is to reduce car accidents caused by distracted drivers. The violation fines are substantial and take effect on July 1, 2010. And so far defined in the law, “Driving”includes sitting at a red light or stop sign. Here’s what the two laws state.
1. Senate Bill 360 (No texting while driving):
“No person shall operate a motor vehicle on any public road or highway of this state while using a wireless telecommunications device to write, send, or read any text based communication, including but not limited to a text message, instant message, electronic mail, or Internet data.”
The fine for offenders will be $150 and one point on the driver’s license.
2. House Bill 23 (No cell phone use by minors):
This new law “prohibits use of wireless telecommunications devices by persons under 18 years of age with an instruction permit or Class D license while operating a motor vehicle”.
The fines are also $150 and one point on the driver’s license.
***So next time you hear your text message chime while driving or you want to Google map your directions or use any app that gives the appearance of texting, think twice before checking or using your phone.
Just listed in Buckhead’s Sarah Smith School District is this 5 Bedroom, 4 Bathroom, Full Basement Home. 3145 Ferncliff Commons Atlanta, GA 30324 is a John Willis Custom-Built four-sided brick home that sits on a cul-de-sac. Offering Price is $869,900. Convenient to all things Buckhead, few homes offer as many features and upgrades at this unbelievable price.
The highlights include:
5 Bedrooms including Guest Bedroom on the Main
4 Full Bathrooms including Full Bathroom on Main
3 Car Garage with Side Entrance and Direct Access to Kitchen
Separate Formal Living Room, Formal Dining Room that Seats 12+, Extra Large Family/Great Room
Gourmet Kitchen with Granite, Custom Wood Cabinets, Stainless Appliances, Breakfast Bar, Island, Buffet Counter, and Eat-In Dining Area
Master Bedroom with Sitting Room and Fireplace
Full Size Basement with Media Room
Hardwood Floors throughout and Berber Carpet in Bedrooms
Upgraded Security System with Nanny Camera
Surround Sound Throughout the Home with Bose Speakers (transmits to Media Room, Family/Great Room, Foyer, Kitchen, Master Bedroom, and Master Bathroom)
Private Outdoor Deck
Open and Bright
Great Flow to the Home
This stunning home is attractive from the first impression to the last. The graceful walkway to the Classic front door provides a welcoming entrance. The dramatic 2-story Foyer with Exquisite Chandelier opens on the right to the Formal Living Room; wonderful for private conversations, entertaining, and a touch of class. Opening to the left is the Elegant Dining Room able to seat 12 or more ; great for family dinners and entertaining guests.
The2 Story Family/Great Room features a custom built marble fireplace flanked by custom built-in bookcases and cabinets. This room also boasts of abundant natural light through the stunning 2 story wall of windows. The room includes recessed lighting in the ceiling with spotlights over the fireplace. Very Spacious.
The gourmet Kitchen is bright, open, and spacious with a view to Family/Great Room. The finishes include Granite counter tops, Custom Wood Cabinets, and Stainless Steel Appliances including Refrigerator, Dishwasher, Microwave, Double Ovens and Gas Stove. There is an amazing amount of counter top space and cabinets. The breakfast bar, island, and buffet counter makes this kitchen very user-friendly. There is also a large pantry just off the kitchen.
The upstairs Master Bedroom with Sitting Room is perfect for relaxing. The bedroom is graced with double trey ceilings, recessed lighting, ceiling fan, and more. Enjoy a good book, morning coffee, and light night glass of wine in the gracious sitting room next to the cozy custom built marble fireplace. It faces the private backyard. The Master Bathroom comprises of a custom extra large frameless shower door with dual shower heads and built in seat, custom cut ice block over Jacuzzi Tub, and double vanity with ample counter top space. There’s a very generous size walk-in closet.
The Guest Bedroom on the Main has ample closet space that it is ideal for overnight guests and in-laws. It opens to the Full Bathroom custom designed with imported Italian Tile.
The extra large Media Room on the terrace level has surround sound with Bose Speakers. There are still areas in the basement that are ready to customize and finish to create the rooms desired. The basement is stubbed for a full bathroom. Great Storage space too!
The Exterior is 4-sided brick. There is professional landscaping in the front yard and back yard and is treated with Chemlawn. The outside flood lights are apart of the landscape to highlight the house. The spacious platform deck is accessed off the breakfast area and backyard. It’s great for summer grill outs and autumn evenings.
There are so many features yet to describe. This home is a must see!! Contact Kelly Chancy with Keller Williams Realty for more information.
Few condos in Virginia Highland have as much to offer as this condo for sale located at 841 Frederica Street #28 Atlanta, GA 30306 in Frederica Hall. Tucked just off of the street, this condo is within a very short walking distance to Virginia Highland restaurants and bars- such as Atkins Park, Dark Horse, Harry and Sons Sushi, Ben and Jerry’s, and so much more. And you can walk to shops for your everyday needs at CVS and Ace Hardware…Or specialty stores at Ooh La La Fashion, Festivity Fashion, or Ten Thousand Villages.
Here is the Essential Description-
841 Frederica Street #28 Atlanta, GA 30306
- 2 Bedrooms and 1 Bathroom;
- All appliances are included- gas oven/stove, refrigerator, dishwasher, and washer/dryer;
- Hardwood Floors throughout;
- Fresh Paint throughout;
- Move-in Condition & Designer Décor;
- All together – Great space and a wonderful location with an offering price of $154,000
Tell me more about this Condo’s Features-
This condo’s classically designed floorplan provides ideal space for a roommate or a home office. With a view of lush trees, this top floor condo stays light and bright during the day as the natural light is not obstructed by any buildings. And it is easy to get excited about the low utility bills. For all of your sentimental and once a year storage needs, this condo has a separate storage unit. And there is parking for two cars.
While the building exterior keeps the charming historic Virginia Highland appeal, the Interior is nicely updated and upgraded to today’s taste and standards. The Kitchen boasts of corian counters, white cabinets, and tile floor. The Master Bedroom is roomy for large bedroom furniture and a Queen/King size bed. The Master Bedroom also has trey ceilings, ceiling fan, and separate His/Her closets. New hardware can be found in the bathroom and bedrooms.
At Frederica Hall, the Homeowners Association is strong and healthy. The HOA dues include all landscaping, common area maintenance, water/sewer, garbage pick up, & pest control. There is onsite recycling. The patio area is great for grilling out and entertaining. For dog lovers, no problem. There is a pet walk for man’s best friend. Cats are welcome too.
Parking is never a concern for you when Virginia Highland Summerfest comes along every June as you can walk to the festivities. Also walking distance from this condo is Atlanta’s best events- the Dogwood Festival, Screen on the Green at Piedmont Park, ING Georgia Marathon& Half Marathon, and all Piedmont Park Events. This condo for sale has so much charm and convenience.
For more information about condos for sale…contact Kelly Chancy at kellychancy@kw.com or 404.964.2060.
