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Archive for May, 2009

Atlanta Home Buyers’ New Stimulus Package

Sunday, May 31st, 2009

     It’s getting better!!!

This past week, HUD improved the first-time home buyers’ $8,000 tax credit by allowing the credit to be used towards the down payment of home purchases for first time buyers. This will surely provide an uncontestable motivation for wannabe homeowners.   This is an unprecedented stimulus package and everyone “sitting on the fence”, waiting and wanting to buy a home, should be motivated to move now. 

Based on the amount of activity that is occurring in the market right now, the buyers who have been dragging their feet, hoping that economic conditions might worsen (to improve their ability to strike a Guinness Book of Records’ deal on a home) should be very concerned that they may have, indeed, missed the proverbial boat and their best opportunity to buy at the bottom.   As we closed in on the end of May, I am extremely encouraged by the level of activity and closings posted this month, and even more encouraged by the closings that are already scheduled for June! 

It‘s not too late to purchase a home while prices and rates are still low. If you are waiting to find the bottom, you may have missed it. However, the deals are sweet and are still there! If you are thinking of buying in Atlanta’s hot homes market, call or email me now and allow me to help you. Experience True Experience!

Affordable Atlanta Homes

Sunday, May 24th, 2009

An article in the  May 22 NY Times, labeled “When Affordable is Still Out of Reach”, made me think of Atlanta’s properties. How lucky are we, to live in an area that a buyer can still find an affordable home? Atlanta has more than its fair share!

Recently, I started working with a buyer whose budget was a maximum of $125,000. She wanted a close-in, single-family home with a backyard for her dog. Many of my agent-friends sarcastically said “Good Luck” with this client; they told me this property could not be found.  However, last night, she went “Under Contract” for an extraordinary home! It is within walking distance of downtown Alpharetta and has a backyard for Fido.  We found this home on our fourth round of property previews; it is well-kept, clean and looks to be in good condition, in a safe neighborhood. When we walked into the home, her face lit up and she exclaimed “this is it!”.  

What happens when you hire a “Buyer’s Agent”? How do you know when you get that sarcastic agent or one that will work hard for you and find you that “extraordinary home” on your particular budget?

The agent should first meet with you, to determine what your budget is (pre-qualifying) and what you want in a home. In that initial meeting,  whether it is by telephone or in person, she will also be interviewing you: does she want to work with you? Are you being realistic and will you be able to close the tranaction, once she finds you that special home? Once you and the agent decide to work together, you can expect her to show you available homes and to help you write an offer, negotiate that offer and to get you through the pitfalls of the transaction. “Pitfalls” can be the negotiations (negotiations won’t end once the contract is signed, they will continue throughout the transaction, sometimes through the closing), the structural and mold inspections, appraisals, final loan approval and the closing. And, she will help schedule all of these things, keeping track of meetings and deadlines. You have a life and a full-time Realtor will not only let you live it, she will help you get through this stressful time of your life, sucessfully!

What is holding you back? This is absolutely the best time to buy a home: interest rates are the lowest they have been in 35+ years and prices are down – it is a “Buyer’s market”!

What constitutes affordable? With a reliable and experienced Realtor, you can find an extraordinary home in your budget! I found a home priced as low as $7,500 (yes, you read that number correctly – you could have charged it on a credit card) to a single-family home that is currently on the market for $45 million. 

Call me if you are looking for an affordable Intown Atlanta home (Decatur, Buckhead, Brookhaven, Sandy Springs) or an affordable suburban one (Alpharetta, Roswell, Woodstock, Snellville, Dunwoody, Canton, Lawrenceville). There are many pockets of Atlanta, you may not know about  – the list goes on and on. I can help; I will find you that extraordinary home. Experience True Experience!

What’s Happening in Brookhaven?

Friday, May 15th, 2009

Village Place Brookhaven, the mixed-use community on Dresden Road has recently gone through a foreclosure proceeding. The community was taken over by a Chicago-based real estate finance and investment firm. The original developer defaulted this year on a $4.2 million construction loan for the project. The total debt on the project exceeded $21 million, in two loans that were held by the Chicago firm.

The Brookhaven development, located on Dresden Drive between Caldwell Road and Camille Drive, includes 41 residences, including lofts and brownstones, and 10 office condominiums built above 30,000 square feet of retail and restaurant space in two buildings, all within a 5-Acre site. It is about a quarter-mile off Peachtree Road, near the Brookhaven/Oglethorpe University MARTA rail station. The community sits in the middle of Ashford Park, but is also close to Historic Brookhaven.

The new restaurant/bar, Verde Taqueria, recently opened to great crowds. Also in Village Place Brookhaven is a unique collection of boutiques, small retail establishments and service providers, including Davonshire (a wonderful, imaginative gift and housewares store), The Library Coffee Company (a nice alternative to Starbucks, The Library also serves light food), Allure Boutique, The Mercantile and Ten-10, a personal-care salon.

If you are interested in living in this community, or another one of Brookhaven’s delightful neighborhoods such as Ashford Park, Historic Brookhaven, Brookhaven Gardens, Drew Valley or Brookhaven Renaissance, call us. We can help your dream come true. Experience True Experience!