Hank Miller Team Real Estate Blog - February, 2021

These Charts Show How Few Homes are For Sale Around Atlanta

How bad is the current housing inventory shortage in the greater Atlanta area? It resonates when presented graphically; hearing about it is one thing but seeing the precipitous drop visually drives the point home. Why the shortage? We see several factors. The most important one is a shortage of inventory. Huh? While it may be easy to sell fast and at a significant premium, how many sellers want to become buyers right now? Record numbers refinanced over the last couple of years and over the pandemic, many renovated and completed projects while locked in, why move? For those that do, many are looking for the next house before they list, trying to avoid the mad scramble. In some cases, homes never hit the market. Word of mouth, off market sales are up as…

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Home Buyer Remorse? 44% of Buyers Have It

We all make mistakes; the challenge is to keep them from being catastrophic. Rushing to buy a home and not doing proper due diligence…that can be both emotionally and financially crippling. Home buyer remorse is a major issue, 44% of buyers overall and 63% of millennials regret their purchase. Despite the grip of the pandemic (Feb 2021); records were inexplicably shattered in both the real estate and the stock market during 2020. Real estate heads into 2021 with historic shortages and mortgage rates too good to pass up. It’s easy to see why the impulse to buy is there, it’s also easy to see how not being very careful can lead to buyer’s remorse. It doesn’t need to end wearing a bag soaked in tears.

The Agent Problem

There are too many agents, over 2…

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Water Damage to Home and Driveway

Poor control of water around a home is the hands down leading cause of problems. Water directly contributes to erosion, rot, foundation and driveway issues; if left unchecked, the structure will fail. This is an issue that's commonly seen around residential homes, building inspectors consistently note it in the form of clogged gutters, downspouts that empty next to the home and "reverse slopes" where water drains toward the home. Routine maintenance but not so routine given the regularity with which issues are seen.

This first video is an excellent example of how water wears away and compromises a driveway. Concrete gets hard and cracks, that's a given. Here, we see the prolonged damage that water did and the resulting settling and deflection. It…

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Creating A Work Space At Home

As the new year begins and the work from home trend continues, you may find yourself searching for inspiring ideas for a dedicated workspace in your home. Your home office should be a devoted room or area in your home that will help you focus on your tasks at hand without being easily distracted by the TV or the pantry. May these beautiful work spaces embolden you to create a home office that is not only a reflection of you but also will inspire you to do your best work. 

Alyssa Rosenhaeck

BOLD WALLPAPER

Make a statement with bold wall coverings instead of framed art work. Choosing the wallpaper first will guide your inspiration for the rest of the decor. The lines of gray velvet chair mirror the curves of the elegant florals on the walls.…

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Out of Towners Outspending Locals for Homes Around Atlanta

The greater Atlanta area is one of the most popular destinations for folks relocating, and that's not good for local home buyers. Just behind Nashville, buyers headed into the metro Atlanta market significantly out spend local buyers by a staggering average of 33%. This is higher in many of the area's most desirable markets and communities. The "400 Corridor" which includes Sandy Springs, Roswell, Milton, Alpharetta and Cumming is home to multiple major corporations and small businesses, growth has been explosive over the last several years. Relocating employees often work with the security of "buyouts" when they leave; they know they can push prices and be covered when it's time to sell. Others moving from more expensive markets look at prices here and…

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If a Buyer or Seller Defaults on a Real Estate Contract, Can You Sue?

If a buyer or seller defaults of a real estate contract, can you sue? The answer is of course, it depends. The typical Georgia purchase and sale agreement has a number of standard contingencies; buyer financing and inspection the more obvious. There are also any number of specific contingencies that might be written into an agreement. But what happens if after everything is completed, the buyer or seller just doesn't want to close? In Georgia options are very limited, other states may be different but here the reflex answer of "we'll sue" doesn't broadly apply.

If a Buyer Defaults on a Real Estate Contract

There are many possible reasons that a buyer might not close, contracts can contain different clauses and stipulations. Properly written…

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