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30004 : Real Estate Advice

  • All90
  • Local Info6
  • Home Buying45
  • Home Selling14
  • Market Conditions2

Activity 79
Wed Apr 10, 2013
Barbie Hintz answered:
Good morning Keemae,

I have a Detailed package I can email to you. There are a lot of questions to consider when hiring a Realtor. No pressure, just great information to consider. Have a great day.

Barbie Hintz
Solid Source Realty
Cell: 770-317-8887
Email: barbiehintz@comcast.net
... more
0 votes 6 answers Share Flag
Wed Oct 24, 2012
Maria Shkolnik answered:
Check Lanier Technical College. They have campus on Exit 13 of 400.
0 votes 3 answers Share Flag
Mon Jul 23, 2012
Fred Yancy answered:
When you file for bankruptcy, it can more difficult to do everything from get a cell phone to rent a house or apartment. However, even with a bankruptcy on your record, you can still get a lease; how difficult it will be depends on everything from when you filed bankruptcy to how much money you earn. You may have to go above and beyond to prove to potential landlords that you're not too great a risk.

You May Get Turned Down
According to MSN Money, landlords frequently check the credit history of all potential applicants, so if you have a bankruptcy on your record, the landlord will know. They'll also likely use it as a deciding factor in determining whether to approve your application, whether you're in the middle of bankruptcy or filed years earlier and have a solid credit history since then. Some landlords will only rent to you if your bankruptcy case is over, which takes about nine months for Chapter 7 and three years to five years for Chapter 13. Or a landlord may rent to you but not give you a long-term lease, instead opting for a month-to-month option.

You May Have to Offer Additional Income Verification or Have a Co-Signer
If landlords see you as a credit risk, they may require more than the standard rental application. In addition to checking your credit report, the landlord may ask for letters of reference from previous landlords and employers. Landlords may be more likely to rent to you if they know you have a history of paying your rent on time, and they'll also want proof that you earn enough to pay your rent without difficulty. They may also ask you to provide a co-signer--someone with good credit who will sign the lease with you and accept partial responsibility for the lease. According to Bankrate, it can be much easier to get a lease if you can find someone with good credit, such as your parents, to co-sign for you. However, you'll need to make sure your co-signer won't be required to sign again when you renew your lease.

You May Have to Pay More
Landlords are often more willing to take a chance on someone with bad credit if they have some guarantee of payment. Landlords usually require new tenants pay first and last months' rent, but if you have a bankruptcy on your record, they may require you pay as much as six months' rent before you move in. They may also require a higher security deposit than they normally request. If a landlord seems hesitant, offering a larger deposit may persuade him to rent to you or may prevent him from requiring you have a co-signer.

Your Current Landlord May Find Out
Bankruptcy filings are public record, so if you're already renting, your landlord could find out. However, your landlord is not notified and you're not required to name your landlord on your list of creditors. If your landlord does find out, she may choose not to renew your lease or may request the extra measures required of new tenants with a bankruptcy, such as paying several months in advance or only renting to you on a month-by-month basis.

Let me know if there is anything that I can do to asssit you in your new home search.

Fred Yancy, Broker
Crye-Leike Realtors
(678) 799-4663
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0 votes 1 answer Share Flag
Wed Jun 27, 2012
Deryk Harper answered:
Hi Todd,

This sounds like a great business opportunity for you. You can open your own property management company and show us all how to do it right. Practice what you preach...so to speak.

Deryk
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0 votes 8 answers Share Flag
Fri Jun 1, 2012
Darrell Hess answered:
LOL Hank,

I answered it yesterday because it showed up as a new question in my email. Go figure...

Your charts rock though and I will kindly use them at my discretion. ;)
0 votes 5 answers Share Flag
Thu May 31, 2012
Darrell Hess answered:
First and foremost what does your agent suggest? Remember they are working for you since you are paying them!

There are restrictions to that 7 day extension mentioned below. you can't just extend the closing 7days just because you feel like it. If you cancel the closing of your present home you may be found being sued and having to pay damages for specific performance. I would read your contract with your agent and attorney present and see what was laid out and what you signed. Every contract can be written differently to protect different individual in different circumstances. As far as canceling your contract on the home you are buying it would depend on how that contract was written and what time period you are in, i.e. due diligence and what not. If you are past all of that more than likely you will lose earnest money. Why does the seller of the home you are buying not address the concerns you have with septic system? Did your agent not suggest amending the contract based on your concerns after the septic system inspection. How much time as passed or how long have you been sitting on this knowledge of the septic system? There are a ton of variables in this situation and I am not your agent and can't see the contract to advise you. Seek legal and professional advice from the people you are involved with and paying. ... more
0 votes 9 answers Share Flag
Sat May 12, 2012
Roxie Cioanta answered:
To briefly answer your question: NO, there are no foreclosures or pre-forclosures on Amy Frances Lane, Alpharetta, as of today; if interested in the area and this particular search, please let me know, there are quite a few within 1 mile radius. ... more
0 votes 1 answer Share Flag
Mon May 7, 2012
Deryk Harper answered:
Not sure if the last two agents that posted realized this question was originally asked in Sept 2009? :)
0 votes 7 answers Share Flag
Fri May 4, 2012
Carl Hawthorne answered:
Pat,

If you still have questions about homes in the area, please let us know. We would love to help you find the right home.
0 votes 9 answers Share Flag
Mon Apr 30, 2012
Mark Laycock answered:
Joe,

Sounds like you need an agent that lives and breathes the rental market. You are asking a great question - the market is red hot. Keep in mind, who do you want to rent to and where will that tenant come from? It's important to know both sides of the market.

I have the ideal tenants looking for great properties, but they don't want to spend a fortune either. They are educated and professional. You must figure out what they want in a rental home. How will you know if your property is what they want?

If you already have an agent - please disregard. If you need help with property management, leasing, buying, or selling....

Mark Laycock
Buying, Selling, and Renting
Better Homes and Gardens Real Estate Metro Brokers
#1 on Google - "Metro Brokers Rentals"
404.843.2500
... more
0 votes 3 answers Share Flag
Wed Apr 11, 2012
Laquita Baez answered:
Angel,

Currently there are 2 homes available on this street. One that is an equestrian estate on about 9 acres
with a 6 stall gable and riding arena, in law suite, theatre, game room, and more. This home is gas, i think it is natural gas, but im not sure. I can reach out to the homeowners to find out for sure.

The other home available on this street is not gas but electric and sits on about 4 acres with a private lake and dock.
The area where this street and homes is located is in the desirable and exclusive North Valley subdivision with a lake suitable for fishing. To best answer your question, may i suggest for you to drive by the area and see if you can see yourself raising a family or retiring in this specific area.
Scope out the nearby amenities and neighborhood.

I hope this answer was helpful....

Laquita Baez
Better Homes and Gardens Real Estate Metrobrokers
770-901-0956
www.LaquitaBaez.com
... more
0 votes 2 answers Share Flag
Wed Aug 3, 2011
Dan answered:
I once lived there(alpharetta)! Sold all of my properties in 2005-06. Nice place but has gotten to be high density. Taxes are through the roof too. Good luck.
0 votes 4 answers Share Flag
Fri Jun 24, 2011
Jonathan Rainer answered:
You should talk with your agent about this situation. We cannot offer advice when we aren't familiar with all the details of such a specific situation.

If you don't feel you can go to the agent, you should probably discuss this with an attorney who can review the contract and let you know of your rights.

Best of luck!
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0 votes 3 answers Share Flag
Fri Jan 28, 2011
Hank Miller answered:
You need to focus and that's done by sitting down with an experienced agent and detailing what you are looking for. You're bouncing around like a cork on the ocean - and hitting multiple issue laden properties.

Why do you think this place remains empty and is now once expired? Why is the MLS picture the very same one from when it sold as a foreclosure in 3/07 AFTER being foreclosed in 8/06? Did you research that or how those lots in there are situated? I appraised this home when it initially went into foreclosure and it was a text book overvalued mess that ended up exactly like I thought it would.

Did you research the term and conditions at Auction.com? How they work, what is expected of you? How will you determine what to offer? You can do research until the cows come home but unless you know what to look for, where to find it and how to apply it you're wasting time and walking into a disaster. From your posts on here, you're scattered, you need to zero in and let experts work - you're not paying for it anyway so there's no reason to get into something that you know nothing about.

You would save yourself tremendous aggrivation by getting with an agent while it's still a very strong buyer's market. Rates will start moving higher - they have to and you'll be watching. Also - a few of these area's that you're looking at are reaching stability so the swing is slowly coming off that strong buyer's market. Banks are cutting loose inventory, cleaning the books and while we're not recovering just yet, there are a few reliable trends to suggest certain areas are crawling forward.

Get an agent before you end up having missed the best time to buy.

Hank
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0 votes 6 answers Share Flag
Thu Jan 27, 2011
Robert A Whitfield Broker answered:
Jim, I gave you thumbs up for an excellent answer and well put - a real buyer should and usually does view thier home purchase primarily from the standpoint of how will my family and I like living here and how well will it serve our lifestyle needs - as opposed to a clinical look at how well the investment numbers may play out over time. A home must first be eligable as a home a buyer would accept - a home that feels like home -otherwise the numbers are moot . Investors look at the numbers first - they arent concerned with looks, feel, environment like a home buyer.

I am not saying to ignore factors that would indicate and confirm a sound investment - and I even perform a tremendous amount of additional due-diligence to help my clients acheive exactly that goal. But I think something else is going on here - today I see this poster is already off asking questions about another property and checking into making an offer on an auction site on his own... a buyer, an investor, or neither...

Anyway, heres a tidbit for any buyer concerned about value and pondering if now is the time to buy - we don't have a crystal ball - but there are tried and true methods to insuring a sound investment in any market, and this market offers some unusual opportunities. Even if area home prices fall more and I can just about guarantee they will - at least a little, the already lower prices combined with record low mortgage money, have experts with a lot more financial analysis skills than us as agents, pointing out that housing costs are currently lower and more optimal than they have been since the 70's.

BUT if rates go up that could change and even nullify any lower price you may get 6 months from now. If a property has the right parameters and is bought right, it will do well over time - and now is an ideal window to pursue properties with the right parameters.
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0 votes 9 answers Share Flag
Fri Oct 15, 2010
Robert A Whitfield Broker answered:
Hi Home4me,

Yes, I not only have an idea - I have the data to prove it! These agents are right, the Milton and Alpharetta and Crabapple areas have excellent schools - research school reports and demographics at http://www.TheHomeBuyersRep.com/Atlanta_school_reports.htm. Home values in the 30004 zip code have held their own better than almost all other areas in Atlanta maintining a flat trend line since July 2007 and prices actually bumoped up 2.5% over 2009 making 30004 one of the top 4 zips for price stability in Atlanta.

St Michelle was developed in 2003 by Atlanta builder MDC (Sharon Mc Swain) who has done many nice neighborhoods in North Fulton, East Cobb and Dunwoody - all excellent areas. You will find that most homes have the two story great room that up until the last 5 years has been very popular in Atlanta and still is to a lesser degree. Median list prices right now are $485,000 -$530,000, and two properties sold since July 2010 at an average price of $383,000 and they were not foreclosures.

I would be happy to discuss your situation and provide some advice and more detail. This is the ideal time to buy, the key is making the right choices - starting with a Buyers Broker who will give you the good and the not so good about any home or neighborhood - including advice about which homes you DO NOT want to buy - in other words a Broker you can trust.

For the maximum amount of property information available, check out our Wise Buyer Programâ„¢ - it provides every purchaser over $5000 worth of free home structural and major systems analysis in addition to full market data and top buyer representation. With this system you are more informed because you know what you are buying - Before you ever submit your offer! Purchase decisions and which home to buy at which price become very clear and easy once you have enough information. Providing more information is the hallmark of my service. This unique and comprehensive approach of analyzing real estate investments from multiple perspectives has many significant advantages over all ordinary house hunting approaches - for more information, see the site below.


Don't hesitate to contact me if you have further questions or need immediate assistance.

Regards,

Robert Whitfield
Broker/Owner - Realtor
Professional Buyers Broker
Relocation Expert
New Home Construction Expert
ICC Code Certified Building Inspection Expert
Advantage Realtors
678-585-9691
877-787-7167
“Know if the property is a Real Find or a Real Financial Risk - Before you submit your offer!”
... more
0 votes 6 answers Share Flag
Wed Oct 13, 2010
Robert A Whitfield Broker answered:
Chas,

Great question and I agree with Hank, the data activity for Atlanta National is too small to be reliable and that means some well selected market comparables in nearby golf neighborhoods would give a more precise data set and analysis. However, that does not mean we can not determine a value trend and finer data does not always mean you will get an owner to move off his price any more than presenting more general trends for the overall 30004 market - which by the way shows a stronger price stability than most areas in Atlanta.

Appraisals can ultimately be useful but remember - an appraisal is merely an appraisers opionion of value - and subject to mistakes and variability amoung appraisers. I have disputed and won (increased) several bad appraisals for my sellers that were low by as much as $25K. Further, appraisals are not necessarily what a buyer is willing to pay, or what a seller is willing to sell for. It often comes down to seller motivations and/or how bad a buyer wants a particular property especailly if it is exceptional.

Since you asked, I will give you what data I was able to compile on Atlanta National from both MLS's and a proprietary source:

Atlanta National 2010

There are 8 Active Listings with a median price of $1.325 million
No Sales have yet occured in 2010
No forclosures were located for 2010
There have been price reductions on several of the current active listings
For 2010 there were 5 Expired Listings: Avg Price $1.363 Million - Avg DOM 159
For 2010 there have been 3 Withdrawn Listings: Avg Price $1.546 Million - Avg DOM 117

The Most Recent Atlanta National Sales Were In 2009:
Two properties sold in Feb 2009
The original average list prices were $1,489, 000
12% price reductions occured on both properties
The final sales price was another 11-12 % off that reduced price for an average sale price of $1,150,000
Both properties were on the market for 178 days - just shy of a typical 6 mo listing.

The overall value trend is that prices in Atlanta National have lowered as we move from spring toward fall, but that is a traditional seasonal shift that is largely the case in most neighborhoods and markets.

The overall market in 30004 is very stable and it is one of the top 4 perfroming zips in Atlanta with less negative impact from foreclosures than most other zips. The five year price retention is nearly flat with a 2.4% increase from 2008 to 2009. Many areas are not flat and the trend line would look more like a downhill ski slope from 2007 on.

I would be happy to delve deeper if you like, but suffice it to say, it is a buyers market and I don't beleive we will see much price change in Atlanta National for the forseeable future, except for a particular owner who may get aggressive to sell or be heading toward foreclosure. There are already some outstanding properties under the $1 million mark right now.

Don't hesitate to contact me if you have further questions or need immediate assistance.

Regards,

Robert Whitfield
Broker/Owner - Realtor
Professional Buyers Broker
Relocation Expert
New Home Construction Expert
ICC Code Certified Building Inspection Expert
Advantage Realtors
678-585-9691
877-787-7167
“Know if the property is a Real Find or a Real Financial Risk - Before you submit your offer!”
... more
0 votes 6 answers Share Flag
Tue Aug 17, 2010
Aaron Mtuanwi answered:
It wouldn't hurt to get a local Realtor that can work with you, not to push you into buying a home but getting you settled in a rental property till your feet are strong to buy. I support all that suggested this option to you. ... more
0 votes 7 answers Share Flag
Sat May 29, 2010
davidwbrower answered:
Julie is spot on. Lowers your buyer pool, raises your cost, thus pulling more buyer's out of the pie, and no, you will most likely not recover much of the expense in sale price until 2020 when the market stabilizes. Good answer Julie. Hope business is well. ... more
0 votes 3 answers Share Flag
Wed May 19, 2010
Scott Chancellor answered:
HI Bob,
The 1st thing you should do is set up a meeting with your agent and his broker. They will be able to let you know what your options are. This should be done ASAP. The clock is ticking. The longer you wait, the worse it might be for you.
Good Luck, Scott
... more
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