First Time Home Buyer Success in Oak Grove Elementary

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Over the past few months, I've been working with Mark and Amanda to help them find their first house. They currently live in Brookhaven and enjoy it. As you might expect, that's where they wanted to find a home. When we start a search to buy a home, I like to ask clients if they have considered other neighborhoods. As with many things in life, we are comfortable with what we know. In this search, I suggested looking on the east side of I-85 in the Sagamore Hills and Oak Grove Elementary Districts. The location was good for their commutes, and I thought they would like the neighborhoods and houses.

After a few months of looking (and getting outbid on one house), they are now home owners! They found a pristine brick ranch on a large flat lot not far from Oak Grove Elementary (check out school rankings on our School page).

I liked this home for them for various reasons:

• It was well below their budget. This gives them more margin in their life, and more flexibility on how they give, save, and live.


• It was one of the lowest price houses in the entire school district. There are no worries about making this house too nice or over expanding. A house across the street is Pending for more than double their purchase price.


• The house is super solid. The home inspection was great, and the house has been very well maintained throughout the last 50 years.


• The house is not cosmetically updated. I don't like this for all clients, but it's great for these buyers because they will enjoy putting their own touches on the house. They won't have to do the messy systems work, and they can focus on the kitchen and baths. Maybe they'll even work w/ our partner, Round Here Renovations.

Congrats on your new home, and I know you will fill it with great memories!

Justin Landis
Keller Williams Peachtree Road
justin.landis@kw.com
404-803-0471

Last Day to Appeal Fulton County Property Tax Assessment

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Do you think the Fulton County Property Tax Assessor is living in a dream world? I've had lots of friends tell me that they wish the assessor would buy their house for what they are saying is the tax value!

Appealing your Fulton County and City of Atlanta tax assessment could save you quite a bit if you are able to get it lowered. For many residents, today is the last day to appeal (it is based on when you were mailed this year's assessment). You can find information on how to appeal on Fulton County's website, and you can download the Fulton County Appeal For Assessment Form.

This leads to the question, should you appeal your property tax assessment? From Fulton County's own website, it says:



Georgia Law requires the Board of Assessors to mail assessment notices to property owners annually when values change. When you receive your assessment notice, the first thing you should ask yourself is, what is the fair market value of my property? Fair Market Value is the price that a willing buyer would pay and a willing seller would accept for a property in an open market sale. If your appraised value is more than you reasonably could expect to sell your property for, then you should consider filing an appeal. Check the values of similar properties. If you still wish to appeal, you must do so in writing within 45 days of the assessment notice mailing date..



If you need help answering the question, what is fair market value, give us a call.

Justin Landis

Mortgage Lending Partner - Mark Daker, Fidelity Bank

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At Team Rich Richardson, we try to surround ourselves with the top vendors in each facet of the real estate transaction. We know how important this is to making your home buying or selling experience the best it can possibly be. When buying a home, one of the most important partners is your lender. They handle the biggest financial aspect of the transaction, and so much hinges on your relationship with them and their performance. Plus you want to get the best rate and pricing possible! You will be paying on this loan for 30 years!

We could not be prouder to work with Mark Daker at Fidelity Bank. This is no joke - Mark has never prequalified one of our clients and not closed the loan on time. That is amazing! Mark is a wealth of knowledge about the financing world, and you can start the prequalification process with him our Financing Page.

Mark has almost a decade of experience in the mortgage industry and has worked with Fidelity Bank Mortgage for nearly 3 years. Fidelity Bank Mortgage is a full service lender, which means borrowers receive all the competitive pricing benefits of a loan broker, since Fidelity has access to nearly all major mortgage investors. However, since Fidelity is also a full service bank, they can offer the level of service you would expect from a local bank, rather then a broker. Thus, loans are processed, underwritten, and funded from Mark's local office. Consequently, the process is always as stress-free, efficient and professional as possible. Additionally, since Fidelity does lend its own funds and has direct contracts with Fannie Mae and Freddie Mac, Fidelity can then offer numerous programs that are exclusive to direct lenders, to include rehabilitation loans, down payment assistance programs and direct government loans, i.e. USDA and VA. While this model of business was at one time frequently seen, the number of direct lenders in Georgia are now minimal. This model ensures Mark's customers receive a combination of the best rates, costs and services the mortgage industry has to offer.

Justin Landis
Keller Williams Peachtree Road
404-803-0471
justin.landis@kw.com

Grant Park Victorian Renovation wins Atlanta Home Improvement Magazine Best Renovation

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Every year, Atlanta Home Improvement Magazine does a Best Before and After Contest for Atlanta Renovations. We are proud to announce that one of our Partners, Round Here Renovations was selected as the 1st Place winner in the Best Complete House Renovation. With all the renovation going on in Atlanta, it's quite an honor for Round Here Renovations. The winning house was a Victorian home in Grant Park for Team Member, Justin Landis and his wife, Amaris.

The house is believed to be built in 1903, and in 2009, it was frozen in time. The home hadn't even been lived in for thirty years, as the previous owner -- who'd actually lived next door -- used it for storage. The last updates were made in the 40's,and almost all of the original details were still in place - floors, doors, hardware, mantles, fireplace tile, moldings, etc.

After purchasing it in December 2009, the structure endured a six-month overhaul. After gutting the home down to the framing, all the original doors, hardware and molding were re-installed throughout the house. The mantles were stripped to the original wood. The original heart-pine floors downstairs were refinished, while heart-pines from another 100-year-old house were used for the floors upstairs. They even maintained the history of the front porch by using the original floor, posts and railings after rebuilding the foundation.

Today, this centenarian has a new lease on life. With a second story addition, the home now has a total of four bedrooms, three and a half bathrooms, plus a new screened-in porch on the back. To try to maintain some of the “look” from when the house was built, the lighting is all hand-crafted replicas of actual, early 1900s fixtures, and the original style push-button light switches were reincorporated into the renovation. Just above the entry to the house is a stained glass, traditional “Grant Park Sunburst” created by local artist Charlie Gebus.

Congrats to Dan Souther, Ben Foltz, Todd Clear, and everyone at Round Here Renovations!

A few before and after pics are below, but you can see more on the Round Here Renovations Facebook Page.

First Time Home Buyer Series - Part 7: Inspection Period

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At this point, you set your budget, got prequalified, went house hunting, and successfully negotiated an agreement on your first house! The next step is to investigate everything we can about the house to make sure it is in acceptable condition.


Inspections

It is up to the Buyer to do any desired inspections. Assuming we have a due diligence period, we have the opportunity to learn as much as we can about the house before we have to make the final decision to move forward with the purchase.


Home Inspection

• The first step is to get a home inspection. Home Inspectors are highly educated professionals who look at houses all day, every day. The in depth inspection will help us reveal issues and areas for improvement. A home inspection typically last 2 – 4 hours, and I recommend that the Buyer attends, if at all possible. Remember, even the best home inspectors can’t find everything!

Termite Inspection

• Termites are everywhere in Georgia. Once, I heard a termite inspector say, “There are two types of houses in Georgia – those that have had termites and those that will!” A termite inspection will check to see if there are any active termites in the house. If so, the house will need to be treated. We can often ask the seller to make this repair. In older homes, it is common for the inspection to reveal previous termite damage. That may not be an issue if the termites are not active and have not caused any structural damage.

Radon Test

• Radon is a naturally occurring element that seeps out of the ground. Georgia has some areas that are prone to elevated radon levels, and this can be dangerous. Your home inspector can set a test to analyze the radon levels in your home. Check out the EPA’s Home Buyer’s Guide to Radon for more information.

Survey

• A survey is not required to purchase a property in Georgia. However, it is the only way to truly know the exact property lines. We can talk through whether or not you should get a survey, but you should definitely consider one if you are planning on installing a fence, pouring a new driveway, or have any questions about the property boundaries.

Contingencies


Contingencies are clauses in your contract upon which the purchase is contingent. That means that if these criteria are not met, you can exercise the contingency to terminate the purchase. These contingencies usually have a time limit and specific requirements. Below are some common contingencies:


Due Diligence

• The first and most powerful contingency is the Due Diligence Period. The purpose of the Due Diligence Period is to conduct your inspections, make sure the house is in acceptable condition, and negotiate any repairs or concessions. This negotiation is completely separate from the original negotiation. The Buyer has the right to ask for anything to be done to the house. The seller has the right to counter and do all, some, or none of the items. However, the Buyer has the ultimate right to terminate the contract if they are not satisfied.

Appraisal

• An Appraisal Contingency is a common addition to real estate contracts. This contingency states that the property must appraise for the purchase price or higher. This protects the Buyer. If the property does not appraise for the purchase price, then the seller has the choice to drop the price to the appraisal value or they can allow the Buyer to walk away without penalty. If the Buyer is getting a loan to purchase the home, the lender selects the appraiser. Otherwise, the selection of the appraiser is a negotiable point.

Financing

• A Financing Contingency gives the Buyer time after going under contract to get their loan approved. This contingency states that if the Buyer does not get approved, then they can terminate the contract without penalty. Before we started house hunting, you were pre-qualified for a loan. Now that you know what house you are buying, it is time to get actually qualified. This requires you to turn in a plethora of financial documents to your lender. Basically, they are verifying the information you submitted during the pre-qualification. If for some reason you do not get approval at this point, we can exercise the Financing Contingency to terminate the contract and get your earnest money back.

Does this seem like a lot to do? Don’t worry, we will make sure you know how to take each step of the process. After we navigate the inspections, due diligence, and any contingencies; it is time to finalize the loan, tie up any loose ends, and get ready for closing!

Justin Landis
Keller Williams Peachtree Road
404-803-0471
justin.landis@kw.com

Low 15 Year Interest Rate for Mortgages in Georgia

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It seems unbelievable that you can borrow money to buy a house for less than 4.0% interest. It's true, you can.

On June 10th, the mortgage interest rates at Fidelity Bank in Georgia were

• Conventional 30 Yr Fixed 4.375%


• Conventional 15 Yr Fixed 3.625%


• FHA Mortgage 30 Yr Fixed 4.250%

Those are some low interest rates! Want to take advantage? You can refinance your existing mortgage, sell your home and buy a different one, buy your first home, or even look at purchasing an investment property or 2nd home. Whatever you choose, we are here to help!

Justin Landis
Keller Williams Realty
404-803-0471
justin.landis@kw.com

$95,000 Price Drop on an Incredible Earthcraft Certified Home in Smyrna

Don't forgot - JustinAtlantaHomes blog is moving to www.JustinAtlantaHomes.com.

$95,000 price drop! Only $379,900 for 6 bedrooms, 5 full baths, over 5,000 sq. ft., full finished basement, and Earthcraft certified.

A price drop like this doesn't seem believable unless we are talking about a $1M home. However, I'm not joking, and there is no catch. The house is in perfect condition, and the finished basement is the best I've ever seen. This is just the reality of the market in certain areas. Prices have dropped and realistic sellers have to drop their prices to sell their house. The good news is that when you sell, that means you can buy! These sellers will make it up on the house they buy and thanks to 15 year mortgages hovering around 3.5%, they will likely save it all back in the long run.

1673 Harlington Road, Smyrna, GA is Top Notch Monte Hewett Home with Countless High End Finishes! Open Floorplan with Two Story Foyer & Family Room. Gourmet Kitchen with Breakfast Bar, Island, & Double Ovens. Finished Basement is an Entertainer's Dream - Complete w/ Media Room Set Up For 5 TV's, Full Bar, Large Bedroom/Playroom & Lots of Storage. Master Bedroom has Sitting Room, Trey Ceiling, & Walk-In Closet. Master Bath Features a Double Vanity, Jetted Tub, & Separate Shower. Deck Overlooks Fenced Backyard. Home is Earthcraft Certified too! Priced like a short sale, but it's not!

This house will go under contract really quickly at this price, so pass it along to a friend or let me know if you want to go see it.

Justin Landis
Keller Williams Peachtree Road
404-803-0471
justin.landis@kw.com

New Listing In Pine Glen N'hood of North Decatur is Too Cool

First of all, justinatlantahomes.blogspot.com has a new home! You can click here to read the blog on the new Team Rich Richardson website or just go to www.JustinAtlantaHomes.com. All of the content from this blog has been transferred, and you can expect frequently updated info! I will continue to post in both locations for the next month or so.

Last Thursday we posted a new listing in the Pine Glen neighborhood of North Decatur - 2957 Atterberry Court. We received an offer on the property the next day and had a signed contract after a short negotiation.

Lessons learned:

• Houses that are priced right, marketed right, and in the right condition will sell in any market.


• Buyers can't wait too long to act on a good house.


• This house was just too cool!

Justin Landis
Keller Williams Realty Peachtree Road
404-803-0471
justin.landis@kw.com

Short Sale Success in Glenwood Green

Short sales are a big part of today's real estate market. Unfortunately, many sellers are upside down or in a tough financial situation. A short sale is often their best or only option. You can read more about how they work on our Short Sale Page.

From a buyer's standpoint, short sales have the reputation of being long, drawn out, and difficult. They got this reputation when sellers first started attempting them with regularity a few years ago. The banks were ill equipped to handle them, and it often took many months to find out the sale was not approved. Times have changed and some banks and some agents are better prepared to get the transaction to the closing table.

A few months ago, one of my clients who was a first time home buyer, saw a great townhouse at a great price in the Glenwood Green Community between East Atlanta and Grant Park. However, it was a short sale. If buying your first place isn't difficult enough, try adding the complexity of a short sale (we covered this complexity in a blog post on our First Time Home Buyer Series). After talking through the situation, he decided to go for it. We knew the listing agent was well versed in short sale, that the seller's lender has a decent short sale process, and that the seller was on board to get the transaction done. We also knew that if he could get it, it would be a great deal!

I am happy to report that the property closed last Friday, less than 100 days from when we first saw the it. The buyer got a great deal, the seller moved the property, and the bank didn't have to put another property on their books. It sounds like a win-win-win to me! It helps to have experienced people working on all sides of the transaction, and the listing agent Michael Neville deserves a thanks for his hard work with on the seller's side.

This goes to show that with some patience in your moving schedule and with experienced agents guiding the process, you can get a short sale to the closing table in a timely manner. So don't be scared! We can help navigate through the short sale process!

Justin Landis
Keller Williams Realty
404-803-0471
justin.landis@kw.com

http://www.richhomesatlanta.com/neighborhoods/grant-park/

Cool New Listing in North Decatur

What a deal! Only $199,900 in the established Pine Glen neighborhood of North Decatur.

Brick Ranch Updated w/ Fresh Paint, Gleaming Hardwood Floors, New Windows, and a New AC. Great Set Up for Entertaining - Open Floor Plan and a Huge Kitchen with a Big Breakfast Bar. Two Full Baths including a Good Sized Master. You couldn't pick a Better Location in this Quiet Cul-De-Sac or a Better Back Yard - Large, Flat, and Private. Great Neighborhood and Great Decatur location. Swim and Tennis available at Pangborn.

See more pics including the amazing back yard by clicking here!

Justin Landis
Keller Williams Peachtree Road
justin.landis@kw.com
404-803-0471