Videos that highlight important things for buyers & sellers

landscape swaleWater is not a home owner's friend, it is constantly looking for ways to cause trouble. But it's predictable, we know it flows downhill and that is the key to successful water control. The short clips below are a great example of proper surface water control. This builder, unlike most, did a great job in setting a predictable pattern to control surface water runoff. This is a big plus, most builders could not care less about things like this; get in and get out as fast as possible and when problems develop just say "the county approved it so...". Salute to this builder.

Swales Provide Surface Water Control

A swale is a shallow, gently sloping depression or channel in the landscape designed to collect and redirect surface water runoff. It is…

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As the spring market heats up, home buyers will examine all options. Many will consider new construction, often visiting the projects and sales reps or calling the information lines. Seemingly innocent inquiries which often result in them being unrepresented by a buyer’s agent if they move forward. Builders love unrepresented home buyers. Not using a buyer's agent when building a home is the single biggest mistake new home buyers make and it will result in problems over the build.

What is Procuring Cause

Every home buyer should work with an experienced buyer’s agent. The buyer agent fee is almost always paid by the seller, there is no reason to be unrepresented.

The National Association of Realtors (NAR) says procuring cause means the agent who…

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“Should I rent my home if it won't sell”? Well, that question has many layers. But that off the cuff declaration by an annoyed seller might be a bit dramatic and premature. For owners unsuccessful at selling, “I’ll rent it” seems to be a knee jerk response. Best to take a step back, breathe, and examine all of the mitigating circumstances that contributed to this situation. For owners, selling a home usually has a significant emotional component; it’s unavoidable. To home buyers, it is just another home. Motivations, objectives, and personal situations are different and before anything rash is done, slow down. Start with figuring out why the home didn't sell.

Why Didn’t My Home Sell?

Assuming the home is/was placed on the market, why didn’t it sell?…

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Appraisers and home inspectors are important parts of a real estate transaction, but they serve completely different purposes. There are significant differences between an appraisal and a home inspection, it’s best for every home buyer to become familiar with the purpose of each. In fact, some real estate agents would also benefit from a reminder about their respective roles.

What is a Real Estate Appraisal?

In brief (operative word), an appraisal is an estimate of the current market value of a home completed by an appraiser using set evaluation criteria. In most cases, if a home buyer is getting a mortgage, an appraisal will be completed. The appraiser represents the interests of the home buyer's lender. They do not represent either buyer or…

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The Atlanta area consistently ranks as one of the very top markets for home flippers. The term "flipping" has a ridiculously broad definition, it ranges from changing the locks and selling it to completely a full remodel and selling it. The TV shows can't fully develop all of the headaches; in 22 minutes they need to wrap things up with smiling faces. The internet parasites selling "secrets" on how to make millions are delighted selling nonsense and collecting a few hundred bucks from each "never to be millionaire". Flipping homes is exceptionally messy, difficult at every level and stressful beyond description. It will keep you up at night, make you gray before your time and likely cost you money and time.

What Does a Flip Home Look Like?

There is…

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Cancel culture invades real estate...The number of cancelled home contracts hit a two year high in June 2022. Nationally, 14.9% of transactions were terminated. The number in Atlanta was higher at 22%. The recent national highs were at the start of the pandemic, 17.6% in Mar '20 and 16.4% in Apr '20. At that time, everything was up in the air as the pandemic took the over the globe.

Atlanta is over the national average but well off the leaders at 17th of the sampled markets. Still, 22% of contracts terminating isn't a anything to ignore. Oddly, Newark NJ had a minuscule 2.6% termination rate. The number is up in Atlanta but let's have a look at why.

Why Contracts Terminate

There are many moving parts to a successful real estate transaction,…

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house on persons headThe great Atlanta real estate market adjustment of 2022 is upon us. As everything shifts, the main players are whispering around the water cooler...will low appraisals be a problem now? Probably not a bad question as the changes in quarter 2 of 2022 were dramatic. As the Fed fights rampant inflation, buyers are faced with dramatic rate increases and sellers with a comparative lack of activity. Lenders and appraisers are also impacted; both industries are circling the wagons just a bit tighter as everyone waits for this market to settle.

No More Appraisal Gimmies

The real estate market coming out of Covid from about fall of 2020 through spring of 2022 was an anomaly. The Fed held rates artificially low by buying billions of dollars of mortgage backed…

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The last two years have been a blur, so much so that "pre-covid" might be considered prehistoric. A meteor ended the run last time, killer inflation is ending the run this time. The Fed has to get control of this rudderless economy and the withdrawals from handouts and the free spending are here. The insane advantage enjoyed by home sellers over the last few years is ending, time for sellers to remember how to list a home for sale. That said, let's not misconstrue what we're looking at (as of the end of June '22 anyway); the Atlanta real estate market is not crashing. What we are seeing, are signs of a return to normal. What we are hearing are cheers from the buyers - the one's left in the game anyway.

The Charts

Here's a look at key indicators for…

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Appraising and being involved in real estate sales for over 30 years allows me to see epic "renovation" nightmares. The unfortunate side of this are the buyers who often expect their agent to flag issues. Will your agent spot renovation disasters? Well, that depends on if you properly qualified them, if they have the capacity to spot issues and whether they are more concerned with a commission or keeping you out of trouble.

This home was noted as "completely updated" and buyers of mine wanted to see it. The usual flags popped just off the desktop review but a base of knowledge is critical for buyers, looking at homes and seeing issues helps to better understand the process. This home however, was a graduate course in renovation disasters - and…

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Coming off the frenzied Atlanta 2021 real estate market, it's hard to imagine things could get tougher for home buyers, but they are. Many factors are at play/still in play so it's not all real estate related, but buyers don't really care what's causing their consternation; the fact is that right now (late Feb '22), buyers are stumbling and bumbling wondering how to get offers selected. It's a beauty contest and the most appealing offers are getting selected.

The average mortgage rate is a good 1% higher than twelve months ago, with an expected 3-5 Fed rate bumps over '22. Home buyers are rushing to buy ahead of additional rate and/or rent increases, some will be trapped on the hamster wheel of renting. Inventory is even lower than last year and no…

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