Some home buyers find themselves facing an interesting quandary; is a new home better than an existing home? Lately, many buyers just want to move into a home and live; they're either not interested in or able to update. It's hard to beat new for this segment. Others will consider homes in need of updates; existing homes tend to be more flexible on price and easier to negotiate. For those buyers, opportunity may be found. Many variables impact the final decision; however there are clearly identifiable differences that home buyers should consider. Both new and existing homes have advantages and disadvantages, the best educated buyers will examine both options.

New Homes are Better Than Existing Homes

What’s not to like with a new home? Most…

As housing density increases, so does the impact of traffic and daily activity. Most people wrestle with the desire for a quiet home but one within close proximity to service and support facilities. Urban residents are well acquainted with the sounds of city life, the rural markets attract residents happy to drive for residential solitude. The suburban residents often ask about the impact of busy roads when buying a home; the answer (of course) is that it depends. Variables include buyer requirements, types of roads, amount of traffic and characteristics of comparable areas. So to, does the proximity to commercial uses like shopping centers and strip malls.

Traffic and Influences not Thought About...

Everything is relative so not all things…

Atlanta is a recognizable location, but the housing market for the many cities north of Atlanta is significantly different. From Smyrna to Woodstock to Alpharetta to Cumming to Johns Creek, they share little in common besides the Georgia connection. Below we compare housing prices between 16 cities broken into 4 regions.

2020 was a crazy year for residential real estate. Despite everything, the housing markets around north Atlanta treated sellers exceptionally well; buyers...not so much. Inventory was scare and competition fierce, multiple offers continue to be common. Many factors combined for this; mainly historically low interest rates and a global plague. In short, buyers exploited rates that make ownership more attractive than renting and the…

Home buyers constantly balance emotion and data; heart vs head. During times of low housing inventory, the heart can be rather convincing and the result might be a disaster. Over the last decade, public home sites and social media changed the “traditional” ways to find a home. Pocket listings – homes marketed outside of the MLS – have become much more popular and some sellers find success just informally tossing their home out there. Buyers, eager to secure a home, find them and dive right in. This is the time for the head to keep the heart in check. This is the time for an experienced buyer's agent to refocus the buyer.

Why Consider a Pocket Listing?

In most cases, buyers chasing an off market home are either enamored with it for a certain reason…

Everything is important when looking for a home to live in, but one thing trumps all. How well does the home fits the requirements of the buyer? This is known as "value in use"; if the home fails to meet your requirements then why purchase it? With real estate, “value in use” is different than the generic term of “value”. Terms surrounding what a home is "worth" are jumbled; price and value are often used interchangeably and may be best described as what a well informed buyer is willing to pay for a particular property that is offered for sale. This is assumed “arm’s length”; a transaction completely above board. Text books dive deeper but no need for that here.

Value in Use

Value in use is buyer specific; how does that property fit the buyer's…

There is a serious lack of skilled labor among home builders in the Atlanta area. Quality and issues exponentially increased over the prior few years, then a pandemic came to town and flipped the tables. A voracious appetite for housing met drastic labor shortages, limited inventory, rising prices and Covid-19 delays. Builders are racing to get homes built and sold; their site agents busy working getting buyers under contract for them. Who is representing the best interests of those buyers? Not the site agent

Who is Building Your New Home?

"ABC Homes" is not building your home; your new home is being built by subcontractors that bid for the work. A lack of  skilled labor is arguably the biggest problem with new construction. Many experienced…

The Covid-19 impact on real estate is a study in contrasts when the "before" and "after" data is reviewed. Seismic shifts of day to day activities impacted every aspect of life, including residential real estate. The pandemic seems to have changed how home buyers and sellers act and what they value (for now anyway). Also clear; the pre-covid inventory shortage was further exacerbated by shut downs and fears of having people walk through homes. Fewer homes, low rates, increased competition and prices came together. A section of the 2020 national association of realtors report compared the housing market before March of 2020 with that after; some familiar trends were reinforced while new ones appeared.

Multi-Generational Homes are In

Desire for…

Learning how to win a bidding war when buying a home usually comes from losing; as others win you learn. There are fundamental techniques and steps to take that will make your offer shine when multiple offers are received. Working with an experienced buyer’s agent is key; one that can dissect data, honestly guide you, write an effective offer and respond rapidly during the process. Many strong offers are lost because buyer agents fail to respond in a timely manner. In situations where "highest and best" offers are called for, remember; highest is not always best. A cash offer with no appraisal contingency and a few days of due diligence can be more appealing than a 97% FHA offer. 

Don’t Overpay

The very first step in winning is not overpaying; know…

Knowing how to resolve home inspection issues can save a deal. This is one of the most emotional parts of a transaction, understand how to navigate it is critical to success. No home, including a new build, will be perfect. Many defects can be spotted by an experienced agent, others need the eye of a skilled inspector. The trick is for both buyer and seller to be reasonable.

Home sellers are not required to complete a seller's disclosure, some homes are sold "as is". If a disclosure is available, buyers will review this along with inspectors as often this document notes issues or problems within the home. However, a seller should not place too much faith in these as there are things about the property the seller does not need to (and in some cases is…

In the midst of a real estate transaction, the last thing that anyone wants to consider is what happens if the appraisal comes in low. That discussion usually starts with a common expression involving excrement and then “now what happens”? The buyer’s loan amount is based upon the lower number between the contract price and appraised value. Experienced agents usually understand how to limit real estate appraisal issues, but it sometimes happens. The argument “the market dictates value” may be true, but appraisers write reports for underwriters and there are strict protocols that they must follow.

The “low appraisal” fuse is lit by the mortgage lender. Usually an email follows a call giving notice that the appraisal has been completed and is attached.…