Under common law, a “leasehold” interest was often used to convey a property for a specific period of time.
Often used in commercial real estate, the leasehold is seldom used in the Georgia residential arena anymore. What is commonly referred to these days as a “lease” is actually a “usufruct,” which is a right to occupy and use the property without the conveyance of title.
A true lease is an “estate in land,” in which some form of title actually passes for the duration of the term. It is usually recorded. A leasehold interest can be bought, sold, bequeathed and inherited.
Also, the term of the leasehold conveyance is generally longer than the typical rental. Twenty years is very common in the commercial world on land leases, but the term could be as long as a hundred or even a thousand years!
So has the time come for the bargain and sale of leasehold interests in houses? For would-be buyers that plan on staying in a house for only five years and a seller trying to wait out the current market, it might be just the thing!
Disclaimer: This article is the opinion of the writer and is not intended to be interpreted as legal advice. Always consult with an attorney before participating in any real estate transaction.
All of the experts seem to agree that the “shadow inventory” is out there. Houses that have gone through the foreclosure process but for whatever reason are being maintained in inventory but have not been placed on the market for resale.
The motivation behind the phenomenon has been described as being anything from sinister to shrewd. Are these institutional sellers simply buried under piles of paperwork, stymied by litigation, or simply trying to stabilize the market in an effort to reap top dollar for their properties?
Whatever the reasons, in Coweta County Georgia there is a significant difference between the number of monthly foreclosures and REO and HUD homes showing up in the marketplace.
I get calls all of the time about houses that have been sitting empty for long periods of time while would-be buyers await the opportunity to make an offer.
The shadow inventory is out there. And it can affect our market dramatically.
And until it is dealt with in a proactive way a lot of uncertainty will remain.
Come set your joy on golden fronds
That spice the meadow with saffron strains
‘Tis Spring that waxes, fresh verdure dawns
Awakes as Winter’s crescent wanes!
( R Weisser 2012 )
Spring has come early to Newnan Georgia this year. The “jonquils” started blooming in January and the “redbuds” are resplendent in their awakening.
The trees are already budding out. And while I enjoy Spring as much as anyone, you have to wonder about the impact this unseasonably mild winter will have on agriculture.
The famous Georgia Peaches require a significant amount of hours below 45 degrees to properly set fruit. Not to mention the fact that if they bloom too early, a late frost or freeze can ruin a crop.
But like it or not, we have no control of the weather and must deal with it as it comes.
In the meantime, I’ll enjoy the flowers!
The woodpile and the furnace grate
Await the tardy guest waylaid.
Is Winter past or only late…
Asleep, to stir another day?
(R Weisser 2012)
It seems as if we haven’t has any Winter at all this year here in Newnan Georgia.
As a matter of fact, even though it’s still January, the yellow bells and jonquils are already blooming.
And although we enjoy a relatively mild climate here in the Southeast, we do occasionally get a real taste of Winter, as these photographs from previous years will attest!
Here's wishing you snow if you want it, and sunshine and warm breezes if you don't!
As a result of readily accessible information about property listings, many buyers like to search listings based on one criteria: PRICE
And we do have many value-priced properties for sale in Coweta County Georgia. And buyers want to see all of these properties in hopes of finding the “perfect” combination of price and livability.
The problem is that many, many buyers are looking for the same thing. And so the good properties sell very quickly. As a result the casual weekend property seeker is very unlikely to stumble upon the right house at the right price.
A good real estate agent can be an invaluable asset in overcoming this dilemma. We see new properties every day and can alert buyers when a “hot” one shows up on the market. It is no longer a matter of being in the “right place at the right time”
Finding the right house at the right price is not a lottery.
Rather it is a calculated strategy for getting an offer submitted on a great house before it is too late.
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Newnan GA Real Estate. 770-827-6225. Tired of do-nothing brokers that put a sign in the yard & wait? My one-of-a-kind marketing plan does what the others cannot do, at any price.
Richard Weisser Newnan Real Estate Agent 770-827-6225 does business as Coweta Fayette Real Estate and is an associate broker at Better Homes and Gardens Real Estate in Newnan Georgia.
The Coweta Fayette Realty team assists both buyer and sellers with real estate transactions. We also specialize in bank foreclosures, REO properties, and HUD homes in Newnan, Coweta and Fayette Counties.
You can get a free list of Coweta and Fayette County foreclosures, or call 770-827-6225 today to discuss your real estate needs!
Richard writes a daily real estate blog and has been nationally feature on ActiveRain over 250 times.
Richard Weisser, Broker, Associate Broker, Auctioneer, E-Pro, Expert Witness, CE Instructor
Better Homes and Gardens Real Estate Metro Brokers Newnan Georgia, Coweta Fayette Real Estate, Inc.
Serving Coweta, Fayette, Heard, Meriwether, South Fulton, Pike and Spalding Counties
770-827-6225, 770-254-4985 (FAX)
All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate, Inc. Copyright 2003-2010.
Coweta Fayette Real Estate is the dba for Richard Weisser, an Associate Broker at Better Homes and Gardens Metro Brokers in Newnan, Georgia. In addition to offering the most powerful and technologically advanced marketing tools in the industry, we provide service above and beyond your expectations. Why settle for just an agent, when you can get the power of a team for the same price working for you for the same price?
Our number one website, CowetaFayetteRealEstate.com offers buyers the opportunity to search the entire Georgia MLS for free, with NO registration required ... ever! It also provides information for those interested in buying or selling real estate at auction.
Also, you can read Richard's Biography!
I am primarily a real estate broker. I deal with all kinds of real estate, both residential and commercial. I have an extremely strong web presence, and combined with all of the tools and technologies that Betyter Homes and Gardens Real Estate Metro Brokers offers, I am able to provide superior service and marketing to anyone looking to sell their property!
Please do not list with any other agent until you see my complete, dynamite marketing plan. It includes television, cell phone texting, toll-free numbers, print media, and the most complete Internet presence available anywhere! Bar none.
Whether I am the first or last agent that you interview, I can demostrate that in today's market, you must cover all the bases. Remember, more exposure means less time on the market and a better chance of getting your best price. Don't hesitate, call today! 770-827-6225!
Real estate Brokerage.
Real Estate Auction.
Real Estate Contracts.
Internet Marketing.
Coweta Fayette Real Estate is a website owned and operated by Coweta Fayette Real Estate, Inc. It is the official website of Coweta Fayette Realty. Richard Weisser is the webmaster, a licensed real estate broker and a licensed auctioneer. Coweta Fayette Real Estate, Inc. is an associate broker at Better Homes and gardens Real Estate Metro Brokers Newnan, Georgia.
Experience:
Richard Weisser was originally licensed in January of 1984, and affiliated with Gramm and Associates in Stockbridge Georgia. After a stint as managing broker for CENTURY 21 Intown, he affiliated with Keller WIlliams Realty Professionals in Peachtree City Georgia, until leaving in 2006. He is currently the responsible broker and owner of Richard Weisser Realty, Sharpsburg, Georgia, and broker for Coweta Fayette Real Estate, Inc., which is currently an associate broker at United Realty Group. He is currently doing business as Coweta Fayette Real Estate, Inc. and is a founding member of Coweta Fayette Realty. He is a real estate license law and agency authority that is available to testify as an expert witness in Georgia Real Estate lawsuits. He is also certified by the National Association of Realtors as an e-pro, the highest level of technical merit recognized by the Board of Realtors. In 2006, Mr. Weisser became a licensed auctioneer!
Real Estate Skills:
Check out ourRichard is a contracts and agency specialist. He wrote the policy and procedures manual for Century 21 Intown, and developed in-house real estate training programs and web-based training programs. As an active member of the Atlanta Board of Realtors Technology and Education committee, He developed and presented two programs on computer basics to members of the board in March and April of 2003. In July of 2004, at ERA United Realty Realty Professionals in Peachtree City Georgia, Richard teamed up with Owen Hand of realty professionals to form Coweta Fayette Realty, a consortium of agents working for a common purpose. You can read more about Coweta Fayette Realty here!
Other Skills:
Richard Weisser has actively developed websites since January 1991. He is the developer and owner of the worlds number one Great Smoky Mountains Photos website, SmokyPhotos.com. Photos have appeared in hundreds of Publications and products, and SmokyPhotos was commissioned by President George W. Bush in February 2001 to provide four photographs as backdrops for a major political speech. An expert webmaster, Richard developed Century 21 Intown's website at C21intown.com. Additionally, he developed other websites for various companies. He prepared and delivered PowerPoint slide presentations for the Great Smoky Mountains Natural History Association. Developed numerous software programs for specific applications, including "Depalmas Data Base, " "Keycoder," and "Fax Filer." Proficient in Microsoft Word, Excel, PowerPoint, Access, Visual Basic, HTML, JavaScript, Photoshop, and hundreds of other software applications.
Awards:
2002 Century 21 Quality Service Pinnacle Award. ERA United Realty Realty Professionals 2004 WI4C2TS Award for agent best exemplifying the principles and beliefs of the Keller Williams philosophy. Newnan Board of Realtors 2006 and 2007 Professional Achievement Award. ERA Million Dollar Producer.
Other Interests:
Golf: Winner second place low gross in the 2002 Atlanta Board of Realtors annual tournament. Winner third place individual in 2004 Equity One Tournament in Peachtree City Georgia.
Richard Weisser is available to testify as an expert witness is Georgia Real Estate Trials. His area of specialty is contracts and agency. Call today, 770-827-6225.
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