Hank Miller Team Real Estate Blog - October, 2021

What Updates Provide the Best Return for Homeowners?

The Covid influence on real estate continues to be unprecedented. Not one pundit or economic expert predicted or could have predicted how the pandemic set the housing market on fire. Sellers hit unexpected jackpots but not all need or want to become buyers. Many are remaining in place, working on and improving their homes. Their concerns? What provides the best return on investment for homeowners?

The best improvement to any home is one that makes it work better for the owner. What’s the point of spending money on something if it doesn’t bring joy? This is “value in use”; and it’s different for every homeowner because every owner has different

requirements for their home. The best improvements are valued by both the owner and the market (the…

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Greater Atlanta Housing Market Report 3rd Qtr 2021

Summer is done and we've turned the corner into the last quarter of the 2021 Atlanta area real estate market. From the opening bell of 2020, yes, back almost two years, it's been a bonkers ride. The election, covid, new administration, covid, inflation, covid and continuing supply chain disasters mixed into "typical" real estate market dynamics. Who knows what lies ahead? No one. All that said, what did the Atlanta area real estate market look like over the third quarter of 2021?  

The need to dig deep into the data cannot be overemphasized; things look one way when viewed as a block but often look an entirely different way when boiled down into micro markets. When that’s done, buyers and sellers will see that looking at data broadly by county, city or…

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What Happens if There Was a Murder in a Home We Bought?

What happens if there was a murder in a home we bought? Well in Georgia, unless the buyer specifically asked the seller about this during due diligence, nothing happens. Georgia is a buyer beware state and there are no requirements for homeowners or brokers to volunteer this and other information. Violent crimes, suicides, natural deaths, drug labs....if the buyer doesn't ask, the seller isn't required to tell. And if the buyer waives the due diligence period to "win" in a multiple offer situation...sorry.

Mum’s the Word

Georgia’s “Stigmatized Property Statute” offers significant protection to both the buyer and the listing agent. They are not liable for failing to disclose violent events occurring on/in the property like murder, felonies or…

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What Impact Do Retaining Walls Have on Home Value

Retaining walls are a pretty common feature, they are found around many homes and vary in purpose, design, size and material. All serve a common purpose; to retain or stabilize an area for an intended purpose. In residential settings around Atlanta, retaining walls are usually constructed of either pressure treated lumber or used railroad ties. Larger, sturdier ones will be concrete. They are used mainly to stabilized hilly terrain, make a site more aesthetically appealing or to expand the usable area. We see them used to support driveways and open walkout areas of basements. Designs can be as simple as a few stacked together or as complex as multi-tiered walls with deadmen, drainage and a mix of materials. It all depends on type of property and the…

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Problems When Building a Home

Let's dispense with the idea that building a home is an exciting and carefree event, far from it. Home buyers are naive when it comes to building a home, the vast majority have never done it and have absolutely no idea what they are in for. Problems when building a home are all but certain to happen, how they are resolved is another matter. A major point - the agent on site is LEGALLY BOUND to represent the builder's interest, not the buyer. Buyer's that go in unrepresented have no advocate when problems occur - and they will.

The issues in the video were resolved.  However sometimes it gets to the point where you literally have to dig in and start making it clear that the shoddy and poor work will not be tolerated. This is an example of such a…

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Should You Take a Cash Offer for Your Home?

The idea that a company or investment firm will provide a cash offer for your home is instinctively positive, what’s not to like? To be clear, this is called a “direct sale” as the home isn’t offered for sale in traditional ways. Usually a buyer contacts a seller directly (often initiated by the seller) with an offer and terms of sale. Executed correctly, an off market or direct sale cash transaction can be completed very quickly; about as long as it takes to clear title and get the closing docs prepared. The wild card of course, is having an idea of what the home might be worth on the open market.

A “cash offer for your home” isn’t new. Over the last few decades, the greater Atlanta area became and remains one of the top markets for these…

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Homebot Monthly Home Value Report

The homebot monthly home value report is now available and is absolutely free. Homebot provides home owners an unequaled depth of information about their home and competing market. Not only providing one of the most accurate valuation models, homebot also provides a market snapshot, current mortgage rates and options, specific loan information, scenarios for selling and buying and even data on Airbnb rental options. This dynamic report is always updating, never static so the most current info is always presented.

This is an incredibly robust, completely FREE tool, sign up in minutes!

Just a couple of screen shots found in each homebot report:

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Should You Consider a Backup Offer?

Should you consider a backup offer? Are backup offers good options for home buyers and sellers? In highly competitive housing markets with desperate buyers and multiple offers, it might seem pointless to write a backup offer, but why not? Buyers and sellers have different considerations, but backup offers can be good options for each. In the end, a back up offer doesn't cost a buyer anything and it can provide the seller with a nice fall back should the primary offer fall apart.

What is a Backup Offer?

Simply put, a backup offer is an accepted offer that immediately becomes primary in the event the current accepted offer fails. Buyer and seller negotiate on terms and conditions just as they normally would. If they reach agreement, a backup offer…

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