Marietta, GA

That's No Bedroom...or is it?

03-09-12

Hank Miller, Broker & Certified Appraiser

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Office: (678) 428-8276

Room count and room designation is as confusing a topic as calculating living area. Both play such a vital role and yet both remain a continuous source of confusion. Agents often work listings to make them as attractive as possible to a potential buyer – which is what they should do. However, there’s a fine line between exploiting the gray area and misleading buyers. The comments below are based upon my appraisal experience and they are reasonable to use when evaluating a home. Most homes will be evaluated by appraisers as part of the closing package; all parties should be familiar with how they will consider the property.

What is a Bedroom? That's Up to You...Sorta

What constitutes a bedroom? Among other things that depends on the age of the home, location of the home, and how comparable homes like it are viewed. There are neighborhoods in Marietta, Atlanta, Kennesaw and other parts of Metro Atlanta that are comprised of homes built prior to the 1940’s. These homes often have bedrooms with no closets – old central heating systems often lacked ducts in each room. Rather than take space with closets that would lack air circulation, clothes were often stored in armoires, cedar closets, or some similar manner. As a small child, we lived in a “railroad” apartment in Brooklyn, NY. There were no doors; you entered in the small kitchen and walked through two “bedrooms” back to the living room. Talk about functional obsolescence….but that floor plan was (and still is) common in that market. Applying current standards to these older homes is impractical as consumer demands have changed. This is a perfect example of why it’s critical to use accurate comparables.

It is reasonable to expect the following in “modern” bedrooms:

· a closet
· a window
· a ceiling height of 7’ or more
· a dedicated, securable entry with no “thru” traffic
· area enough to accommodate a small bedroom set

This list isn’t exclusive; common sense will come into play. One big variable in the Atlanta real estate market is “bonus” rooms being called bedrooms. Typically located over the garage, these rooms can work as bedrooms, offices, play rooms, media rooms….use depends on your needs.

And What About Those Other Areas...and Basements?

What constitutes a dining room? Common practice (and common sense) is to call it a dining room if it is a definable space suitable for formal dining. In my view, this is a walled room that is adjacent to or near the kitchen, with defined entry and exits. A dining area is typically off the kitchen and is a space suitable for informal meals. This area is open to the kitchen and the traffic flows unobstructed.

What constitutes a finished terrace? This is a bit of a word play as in the Atlanta market this is usually a finished basement. In most parts of Metro Atlanta, we have the luxury of rolling terrain that affords us the ability to have partially above grade basements. Natural daylight, exterior entry doors, high ceilings….these things combine to make finishing the area very worthwhile. But – DO NOT EXPECT THIS AREA TO BE REFLECTED IN THE LIVING AREA OF THE HOME. It’s common for agents to include finished basement rooms in the overall room count. This area must be heated and cooled by a permanent source and must be “finished” in a manner minimally consistent with area norms. Finished surfaces on the walls, ceilings and floors – permanently heated and cooled are usually minimal standards. Many agents and owners also include this area in the square footage of the home. This is inaccurate; if an agent does that they are either misleading the client or they are ignorant of industry requirements.

Does finished basement area “count”; does it add value; is it included in the appraisal? Yes, yes and yes. ANY finished area that is less than FULLY ABOVE GRADE is considered finished basement. Appraisers will use comps with similar finishing and the area will be reflected outside of the gross living area in the basement section. Adjustments for size, quality, condition, etc will be made to the comps based upon comparison with the subject. This can get dicey with finished basements, but consider the challenges of appraising some mountain or lake homes where the majority of the living space is technically below grade…

Bathrooms, Tub, Shower Stalls and Stand Up Urinals...

So is a bathroom with a shower stall a full bath? Again, look at it through an appraiser’s eyes as they will have a role in the transaction. In my experience a full bathroom is any with a tub/shower combo, a separate tub and shower, or a shower stall. Bathrooms with only tubs and no shower are tricky; current standards would consider that functional obsolescence but those are seen in older homes and even some "retro" remodels. Powder rooms or half baths are typically a toilet and sink. But what about a bathroom with a stand up urinal? Yup - saw two in the last six months...how sexist.

If it Works, It's Fine

Keep in mind that a buyer’s requirements for a home supersede an agent’s description. That bonus room might serve as a bedroom, a bedroom as an office, or the dining room as a play room. Sellers need to see their home through the eyes of the market. If that loft is open to the family room then call it a loft, the room in the back of the basement with no windows and no closet might not be a bedroom even if it’s used it that way. Don’t get dramatic about what a room is or isn’t called – all that matters is what works for the family occupying the home.

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Save Theatre in the Square - Marietta, GA

03-06-12

Kathy Sheehan

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Office: (770) 634-4021

Mobile: (770) 634-4021

This was in an email sent to the members of the Marietta Business Association, I have been a member for the last 5 years. The Marietta Business Association is a group of business professionals with a definite purpose in mind, to help local businesses prosper. The Marietta Business Association also supports the community and non-profit organizations. In the past we have worked on the Farmer's Market, Art in the Park, and the Turkey Trot. Now it is time for us to help another organization in the community.

I thoroughly enjoy Theatre in the Square. I have found the productions to be well done, and extremely affordable. It is a great way to introduce the family to a live production.

Here was the email:

"The Square needs your help! As many of you know Theatre in the Square is in dire straits. On March 16, Theatre in the Square, a cornerstone of downtown Marietta for the last 30 years, may be forced to close its doors.

The Theatre has not been able to pay Landlord, Councilman Philip Goldstein, for over a year. Thankfully Mr. Goldstein has tried to work with the theatre and not shut them down. But... before paying Mr. Goldstein, the board is committed to making payroll and needs another $60,000 by 3/16 to keep key vendors from shutting it down. If Theatre on the Square is forced to go dark it not only means that the landlord, employees and vendors won't get paid, it will affect the entire square. The theatre brings people to the square each week. These people often shop and eat on the square. This is business many shops and restaurants rely on in order to survive."

The Marietta Wine Market is lending a helping hand and sponsoring an event tomorrow to help raise some needed funds. So, please, won't you come out and join us.

Join us at Marietta Wine Market this Wednesday, March 7and meet Pearl Cleage, playwright for Flying West, opening at Theatre in the Square. Wine Tasting 5-7:30pm. Proceeds from tastings this week will support the Theatre.

Marietta Wine Market

18 Old Powder Springs Street in Historic Marietta Square

www.mariettawinemarket.com

770.919.1574

Founded in 1982 by Michael Horne and Palmer Wells, the doors to Theatre in the Square opened for the first performance of On Golden Pond on September 10, 1982 in an 85-seat space adjacent to Marietta Train Depot at 31 Mill Street (now Cool Beans Coffee). Presently located in a former cotton warehouse on the historic Marietta Square, it is the only professional theatre and the largest non-profit arts organization in Cobb County. READ MORE.

Theatre in the Square

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Marietta Short Sales January 2012 Update

03-03-12

Aaron Hofmann aka Mr. Smyrna Vinings

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Office: (770) 874-6383

Mobile: (770) 653-9601

Marietta Short Sales

Wanting to know more about Marietta short sales. Let's do a quick recap of Marietta short sales for January and it’s impact on the current market. With 41% of all homes sold in Q4 2011 in metro Atlanta being distressed properties, it’s important to understand the influence that short sales have on today’s market and to keep an eye on the market.

In January, Marietta short sales activity was:

101 active homes
100 pending homes
27 closed homes

28 active condos and townhomes
21 pending condos and townhomes
1 closed condos and townhomes

If you’re in the market for a Marietta short sale, whether a single family home, condo or townhome, we’re here to help. Our team is lead by a Certified Distressed Property Expert and experienced in the nuances faced when purchasing short sales. Protect yourself and work with the short sale experts.

Contact us to get started today.

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East Cobb short sales January update

02-29-12

Aaron Hofmann aka Mr. Smyrna Vinings

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Office: (770) 874-6383

Mobile: (770) 653-9601

Let's recap East Cobb short sales for January and it’s impact on the current market. With 41% of all homes sold in Q4 2011 in metro Atlanta being distressed properties, it’s important to understand the influence that short sales have on today’s market and to keep an eye on the market.

In January, East Cobb short sales activity was:

25 active homes
27 pending homes
6 closed homes

7 active condos and townhomes
3 pending condos and townhomes
0 closed condos and townhomes

If you’re in the market for a East Cobb short sale, whether a single family home, condo or townhome, we’re here to help. Our team is lead by a Certified Distressed Property Expert and experienced in the nuances faced when purchasing short sales. Protect yourself and work with the short sale experts.

Contact us today to learn more about East Cobb short sales.

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Home Did Not Sell Marietta GA

02-24-12

Melania & Jim Saltarella

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Office: (770) 653-0755

Mobile: (770) 653-0756

Ten Things to Do When Your Home Does Not Sell in Marietta GA

Ten Things to Do When Your Home Does Not Sell in Mariettta, GA.

Did your home in Marietta, GA, not sell during its listing period? It can be frustrating, but it may not be the fault of your home at all. It is time to review.

1. First, review all the marketing. Photographs need to look their best online, and there needs to be plenty of them. Analyze the information on the data sheet and make certain it is accurate, that it emphasizes the home's features and benefits and appeals to emotions and is complimentary. Make certain there is nothing that eliminates your home from showings.

2. Consider the availability. Does it appear online that your home can be shown easily, or is it a hassle to make an appointment by calling the agent and homeowner and then at only at ceratin times can the home be shown. Make the showings easy, because there is too much competition to be difficult.

3. Now take another look at your home's condition and staging. Wallpaper or paint may be costing you a sale, as while that is cosmetic, many buyers cannot see past it. Many homes are cluttered. Consider renting a storage space and moving much out of the home so it looks spacious. Make certain the remaining furnishings allow your home to show like the model home in the new construction neighborhood, even if that means renting some items. Pay particular attention to the curb appeal of your home. Have the photographs redone for the internet postings.

4. If your home looks good but there are problems in the area, you may need to start a neighborhood improvement group. You may need to take the initiative to mow your neighbor's lawn or help him clean up his yard, and you may have to mow his lawn until your home sells. You may even need to get the city or county to help in cleaning up your neighborhood, or start a petition to close landfills, obnoxious plants, and other detracting influences in the area.

5. Consider the pricing. Review recent sales in your area and make certain your price is not out of line. You may even take a look at some of the competition to be certain your home is priced competitively. Then make certain your home price is strategic. We are not talking about pricing your home low to sell, we are talking about strategic pricing for internet searches. Old school is the rule of 9's, yet it is continuously used in pricing real estate even though it could potentially cut your potential buyer pool in half.

6. Consider renting it out until the market turns back around.

7. Offer a lease option, owner financing or other creative financing if possible.

8. Consider postponing the sale. There is an old saying in real estate that you can sell any property for any price if you wait long enough. You may need to wait until the market turns around before you can get what you want for the home.

9. Brainstorm additional marketing methods, such as open houses, QR codes, hotline riders, additional internet placement such as Craigs List, and blogging advertisements on your home for internet domination.

10. Consider hiring a different real estate agent to provide "new blood" and a fresh perspective. In Cobb County, including Marietta, Kennesaw, Powder Springs and Acworth, Magic Realtors of Keller Williams Realty Signature Partners may be the ones to talk to. There is a reason our office has the market share in our little part of the world. Your home deserves a second chance!

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