The market activity for the winter has been registered and filed. Those being aggressive in their sale approach succeeded and those waiting for the spring buyers market are here. A quick summary of the sales activity in the 30338 zip code implies a clear trend. Those homes which did not sell and the potential sellers who have joined or rejoined the market in anticipation of the spring rush should take note of the current competition. Homes sold from Dec 1 to the first week of March totaled just 41 homes. The current inventory of active homes for sale as of the first week of March total 163…
Once under contract, sellers and buyers, each from their respective viewpoints and obligations, have approximately five major hurdles you will need to clear during the next 60 days. Most will be occurring simultaneously with their own respective timeframes. Depending on which viewpoint the respective parties come from, financing capabilities and due diligence – most commonly referred to as inspection period – will be the first two. A great deal of research and analysis is necessary for financing and due diligence. Under there is some time constraint, as both have time periods of eight to …
For those getting ready to sell in 2011 and for buyers who are still considering buying a quick snap shot of what still remains for the 2010 market may be beneficial. We all know or should know the home values are continuing to trend downward, which is supported by the analysis of a major conservative statistical tracking organization called Case Schillar. So some of the following statistics may be beneficial in your overall analysis. As of early February 2011 in the zip code of 30338 in Dunwoody, under detached housing there are 149 homes for sale ranging between $995,000 and $172,000 with …
Moving into spring the current and future sellers will need to utilize what the winter market has established. Using a 90-day period of sales from Nov. 1 to Jan. 28, the following generic scenario has unfolded. According to a major realtor listing service there have been 27 homes sold detached homes sold in the 30338 zip code area in that time. It appears 17 of them, or 63 percent, were in the range of $250,000 to $450,000 with a high of $594,000 and a low of $150,000. Among attached homes – which would include town homes and condominiums – there have been 15 sold. In this group 11, or 73 …
Recent discussion on a proposed Gwinnett Technical College Campus raised the question of an automatic decrease in home values if a location were to come to Sandy Springs. Jim Kurtz, who has been a realtor in Sandy Springs and Dunwoody for nearly 30 years, shares his insight. In a realtor’s opinion education always outweighs any other type of business, such as restaurants or retail. Nearly 80 percent of families that move into the area have children. Retail businesses in the neighborhood are fine, but what is most important to them is, do they have access to quality education for their kids…
Sellers should know that potential homebuyers want to know two things when they look at a home. They wonder if you are serious about selling, and they want to be able to envision their belongings in the living room, bedroom and kitchen. The latter is difficult to do if every space of the house is stuffed with your mementos, toys, tools and electronic gadgets. Sellers can help realtors close the deal by de-cluttering the house. Each room, area and space has its own unique characteristic and needs to be displayed in the best possible light, to show the highest potential value of the home. …
The good news for Dunwoody and Sandy Springs is the overall downward trend in home values has not been as devastating as in other parts of metro Atlanta. Home prices, from 2004-2007, rose 3 to 8 percent in Dunwoody and Sandy Springs, compared to 15 to 20 percent in other parts of the metro area. As a result, home values haven’t taken as much of a hit. Still, this is a critical time for sellers. When spring arrives there will be a whole new influx of homes for buyers to choose from. Those new 2011 homes sellers may be more attractive to buyers. If the 2010 sellers don’t take a serious look at…
Here's a scenario: You are a homeowner behind in your mortgage payments and your house has less value than what you owe on it. The bank is trying to collect its money. You call the bank and ask them to absorb some of the loss. That would be done in the short sale of your home. The bank has you fill out a financial package to see if you qualify, and gets an appraisal on the home. You qualify and the bank agrees that if you sell your home for less than the full amount due, it will accept the loss. That's the short version of the short sale. Here are some of things you need to know about …
The downward trend in home values is slowing. In most cases, when a home sells today it is at a bottom price. Meaning, if a seller has had his home on the market and had to continue to lower his price until he finds a buyer, that sale price is a sign of the bottom in the real estate industry. Real estate follows the general law of supply and demand. We currently have an over abundance of supply and the demand is extremely skeptical. One aspect of the supply side is the general public. The other part of supply -- banks, mortgage companies and the federal government-- strains real estate …
Times have changed when it comes to buying a home. Mortgage lending was more flexible a few years ago when some lenders were lenient with documentation and employment. Today all lenders pretty much have the same requirements. Any homebuyer, today, should know that 'must haves' for the lender include above average credit with a minimum FICO score of 640, and a steady job to prove income history. Three important aspects of your process include the loan originator, which is the person that gathers the documentation; the underwriter and the appraiser. All three work for the lender. The …
The foreclosure process can be confusing for Georgia homeowners fighting to hang onto their homes. You may wonder how foreclosures work or if there have been many in your neighborhood. This week in Sandy Springs there are at least 28 single family foreclosed homes with prices ranging from $134,000 to $3,225,000. And 485 condominium townhomes priced from $134,000 to $890,000. In Dunwoody, there are at least 18 single family homes with prices ranging from $130,000 to $550,000. And 172 condominium townhomes priced from $65,000 to $625,000. Several major banks suspended or reduced foreclosures …
