New Home Issues - Problems with Framing

In this post, we look at new home problems with framing. Home builders excel as magicians; now you see it and now you don't as drywall hides all sins. Framing a home is literally building the skeleton, kind of important to get it done right. The majority of new builds are not "custom homes"; they are common plans that builders prefer. Typically, they have "framing packages" delivered to the site. From there, framing crews get to work. Builders always shop price (some might say always cheapest) for materials and labor. It's all about profit, never forget that.

Trashy Framing Lumber

When I'm stammering for words, it's not good. This builder shops the throw away bins at Home Depot and Lowes; wasn't just this one either. Framing lumber is…

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Skilled Buyer Agents are Critical

Skilled buyer agents are critical to a successful home purchase. Recent changes to real estate law regarding buyer agent compensation are prompting a new batch of "disruptive" and "innovative" ideas. Simply put, there is no substitute for the guidance provided by an experienced buyer's agent. The internet is ripe with "do it alone" advocates; that advice is straight stupid. Buying a home is a rather significant purchase, most buyers are not savvy to the process.  What could go wrong? Well...consider an inquiry that I received.

"After several missed opportunities a listing appeared in XXXX for an unoccupied home as an estate sale and the asking price was in line with market rates, so we made an offer of asking price. We engaged an inspector, but…

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HGTV Home Flips are NOT the Real World!

HGTV home flips are not the real world, so why do so many "investor wanna bees" swallow that hook? In just 22 minutes, you see homes transformed from disasters to diamonds, complete with upbeat hosts exchanging forced banter and crews magically working under budget. Sure, it’s entertaining, but many gullible viewers buy into the fantasy of “getting rich by flipping homes,” only to have it end badly. Trust me, I know. With over 35 years of experience as a full-time broker and appraiser, I’ve worked with both traditional clients and investors. Flipping homes can be a risky endeavor for those who aren’t well prepared — just ask Zillow, Redfin or Opendoor. Combined losses for those all-stars exceeds $1 billion.

Here’s an example, an investor client of…

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New Home Issues - Problems with Concrete

There's never a shortage of horror stories with home builders around Greater Atlanta. In this post, we look at new home problems with concrete. Problems here can be catastrophic; everything rides on the foundation being properly installed. Unfortunately, what should be done, sometimes isn't (some would say that's routine). While a company might strive to do things according to the "book", enforcing this at the build site while managing budget, time frames and labor often means things don't always happen as they should. The problem here is that a home is only as good as the foundation it sits on.     

Badly Cracked Basement Slab

That video was a spur of the moment thing born of pure anger. That was almost a $2M home, and as I walked around…

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Atlanta Home Sellers Must Adjust to the Balancing Market - Fall '24

As the Greater Atlanta real estate market continues to stabilize, Atlanta home sellers must adjust to the balancing market. The Fed mission of slowing the post pandemic nonsense was achieved; this market is largely balanced. Inventory challenges remain of course, but for sellers, it’s no longer “name your price”. While a few sellers in select areas maintain some sway, the majority will either listen to the market or see their homes sit. Don't be stubborn, the Greater Atlanta real estate market is returning to the more predictable, pre-pandemic patterns.

Atlanta Real Estate Inventory

• The spring/summer ’24 market saw the highest listing inventory in several years
• Homes going under contract were slightly below previous years
• Closed…

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Homes Built With Brick Enjoy Better Market Appeal

Once a very common sight around Greater Atlanta, brick is rapidly disappearing from the scene. Homes built with brick enjoy better market appeal, it's a recognized advantage over just about any other exterior surface. The brick is not structural, rather it's an exterior cladding independently supported and tied to the framing with "brick ties".  Brick is virtually maintenance free - when properly installed. The most common issues tend to involve cracking and drainage, cracks above wide openings in particular.

Brick Cracks Above the Garage

This is a pretty common occurrence and is often due to either the lintel supporting the brick sagging or one of the support columns settling over time. Here we saw the support post settle a bit, this…

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Minor Impact in GA From Realtor Settlement

A few weeks in and the lawsuit real estate commission policies from the NAR settlement are not having a noticeable local impact. In Georgia, the changes are mainly administrative and have most to do with advertising buyer agent compensation. Buyer brokerage agreements were required prior to the settlement, so not a big change there. The main changes in Georgia were added transparency in the forms, further clarity on payment of agent compensation, and that MLS services no longer advertise if the seller is offering buyer agent compensation.

And because the MSM is not accurately detailing things - sellers have not stopped offering buyer agent compensation. We have not had a single occurrence, nor have any of the agents in our orbit. Our sellers…

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Inept Real Estate Agent Costs Buyer Thousands of Dollars

Inept real estate agents cost clients thousands and thousands of dollars. This is often self inflicted; buyers and sellers select agents without proper vetting and research. They remain with them despite poor communication, poor performance and they fail to hold their agent accountable. From inept data analysis, contractual gaffs, improper transaction management and things that you cannot imagine...hack agents cost their clients thousands.

Money Lost on Closing Costs

Here's a very common buyer agent gaff, leaving money on the table. It's also a great example of the buyer's agent NOT working closely with the lender. We listed this investor home at 215K, the buyer was using a conventional loan and putting less than 10% down. The offer came over with a…

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Buy The Home Now, It's Not Going to Get Any Easier

Hey home buyers, they’ve been lying to you. They; the main stream media, the laughingly called "economic experts", the "real estate industry experts"…all of them. Straight up gaslighting you. Telling you about dropping rates, dropping prices and increasing inventory. They're straight up BS'ing you.

Buy the home now, it's not getting easier. Home prices are not substantially dropping any time soon. Not if rates drop, not if supply modestly increases and damn sure not due to the much ballyhooed “commission” changes. Buyers waiting for prices to substantially drop are wasting time and losing money. Sounds like the typical hack agent line, but serious buyers need to accept things and get it done. The cavalry isn't coming, no one is coming.

Gaslighting…

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Atlanta Real Estate Two Years After the Interest Rate Jump

About two years ago this month, Atlanta real estate and interest rates started a very complex relationship. The Fed slammed the brakes on low rates, and despite the initial wobble, the Atlanta real estate market found stability and firm ground. There was pain of course, many buyers were eliminated and the withdrawals from those low rates is still being felt. Two years in, we have enough data to evaluate the impact of the rate jump; the questions of “how much, how many, and how long” can be answered at this point. Comparing Feb '24 to Feb '23 and Feb '22 (six main metro counties); we see how hard those rate increases hit in '22 and how the market adjusted through '23.

Home Prices in Atlanta Continue to Rise

Median prices fluctuate as they do in every…

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