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Category Archives: investment

Wayback Wednesday… Set the Hook…

Wednesday, 10 November 2010 08:04
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Group of tour buses sponsored by real estate d...
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Two years ago there were worries among sellers that buyers couldn’t obtain financing.  Those worries are back… but, then as now, money was available.

Of course, in the middle there were issues with getting loans funded.  But now, the loans are available.  Of course the credit restrictions are tighter and there are fewer loans available for those with weak credit.  But, many would be buyers think that getting a loan is all but impossible… that may be what they heard on TV or saw in the paper.

So, a great opportunity for sellers (and their agents) is to make sure that would be buyers KNOW that they can get a loan.  When I take listings, I call up one of my best mortgage guys and have him build out a few financing scenarios.  This lets prospective buyers know up front what their payment options might be… and if the property might be within their budget.

When I am working with buyers, if they haven’t already, I get them to get a pre-approval.  This allows them to deal with issues with which they might not have been aware, PRIOR to putting an offer in on a property.

Here are a couple of links for Ken Cook, one of my mortgage guys.  He has access to a LOT of programs for buyers (there is audio on this link) that might be on the edge, as well as tools to help those that might have credit challenges to overcome.

Let’s not forget the post from two years ago…

When selecting a listing agent, it helps to have one that also works with buyers.  A balanced agent has the resources and relationships to make it easier for a buyer to get your home.

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Flashback Friday… Staging with Storage…

Friday, 05 November 2010 08:17
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Old garage.
Image by Elsie esq. via Flickr

This is tough this time of year.  There are usually a LOT of things going on, and the decorations are almost ready to come out of hiding.  But, if your home is on the market, you have to keep it looking “Presentation Ready” all of the time.

In this episode from last year, Tara Jones (my wonderful friend at Reel Productions) talks about Staging with Storage.

If is a fantastic way to de-clutter, but at the same time, make the house more livable.  And it isn’t just the kids’ bedrooms or the playroom that can benefit.  Think of how cool it would be to have everything packed up neatly and orderly in the garage… still accessible to work, but out of the way of prying eyes… buyers… teenagers looking for a tool…

So, here is a link to the original post.  Enjoy.

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Wayback Wednesday… Median Price Comparison… Ouch!

Wednesday, 03 November 2010 08:12
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Midtown and Downtown Atlanta as seen from Vini...
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A couple of years ago I was looking at median house prices in the Atlanta area, via a map that the NAR (National Association of REALTORS®).  My friend Jay Thompson unearthed it… I think before the NAR was quite ready to release it.

The map is a fun little interactive tool, but the information is the real story here.  A couple of years ago, I noted that the Median Home Price in the Atlanta area was $158,300 for the 2nd Quarter of 2008, down 9.8% from the 1st Quarter of that year.

For the 2nd Quarter of 2010, we are sitting at $122,700… up 1.1% from last year.

If you were wondering how values have fared over the last couple of years, this was a pretty telling indicator… and it wasn’t good.  I honestly didn’t expect that the Atlanta market would go down by this much.  I expected a 10-15% decrease in values, but not something closer to 20% as we have seen.

Here is the link back to the original post… with the map.

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Flashback Friday… Mortgage Thoughts…

Friday, 29 October 2010 08:43
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Ken Marrero and Ken Cook (right)

Ken is on the right Image by The Ken Cook via Flickr

Over the last few weeks I have worked with a few buyers that have had questions about mortgages, pre-approvals and “the process”…  Oddly, as I was looking for a post from last year, I stumbled onto a collection of Ken Cook (the mortgage dude, not the weather dude) posts I had highlighted about those very things.

I assembled a few quotes from 3 of Ken’s (then) recent posts and linked back to them for more info.  He puts out a LOT of great info about the mortgage side of real estate, and he is my “GoTo Guy” for financing.

So, wander back and see a few “Mortgage Thoughts from Ken…“.  Let me know what you think.

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Wayback Wednesday… What do YOU Deserve?

Wednesday, 27 October 2010 08:10
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Credit cards
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I am very NOT perfect.  I have had credit issues just like many others… I have fought back from the brink and suffered setbacks.  And one thing I have learned is that there are NO easy remedies.  You can’t make a call, spend $500 and get magically good credit from some dude driving around in a crappy car… or even an expensive car.

A couple of years ago I wrote a post about a Credit Repair company I saw advertised on the back window of an older SUV.  What really ticked me off was that it said…

Get the “Good CREDIT” you DESERVE

It bothered me on several levels.  Feel free to read the post to see exactly why…

  • First, why are there quotes around “Good CREDIT”?
  • And don’t most of us HAVE the credit we deserve?  I don’t want to sound harsh, but when we don’t act responsibly, we don’t “deserve” good credit…

There are also some tips on how to get the good credit you desire.

If you want to buy a home, I might suggest talking to a good mortgage lender… I happen to know one.  If you find out that your credit isn’t where you expected it, he might be able to help that, too.

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