Lee Davenport

I am sure you have heard all of the hype about this being the best time to buy and maybe this has made you realize it's time for you to have the American Dream of homeownership. Or, maybe you realize this is a great time to investment in some additional real estate properties if you already have a home. Well, believe the hype! This is a great time to buy if you are prepared since home prices are at all-time lows. Before you rush out to take advantage of the great low prices in the real estate market, check the following:

1. Review your credit rating.

Order your credit report and handle any errors or disputes.

2. Determine the amount you can afford.

Obtain a copy of your bank statement to show proof of funds if you are a cash buyer. If you are not quite ready to pay cash for a home, begin talking to lenders to obtain pre-approval for a loan. The lenders will look at your debt to income ratio to determine the approximate loan amount for which you may qualify. Loan pre-approval will increase your negotiating power when it is time to write an offer. Note: Once you obtain preliminary loan approval, you need to avoid making any additional purchases on credit as this could affect your final loan approval. That means this is not the time to buy a new car, new furniture, or even make expensive repairs. Wait until you have purchase your new real estate (it has actually closed).
3. Don't just look for a good deal, determine what you want (and don't want) in a house.

Write down the "must-haves", "would like to haves", and "definitely do not wants". Try to be specific, and realistic, about what you want and what you can afford. Choose the area in which you would like to live or invest. Research all data that is important to you such as schools, convenience, property values, traffic, crime, etc.

4. Find a real estate agent to assist you in finding the home of your dreams.

What's the benefit of working with a real estate agent? You have someone who knows the market do the research for you and you have a skilled negotiator that can help you quickly achieve your goals. Consider an agent's experience, track record, and familiarity with the area, but, most importantly, find an agent with whom you are comfortable, as they will be assisting you one of the most significant decisions you can make with you money.

This is just a basic checklist so if you desire to learn more, please contact places2love@gmail.com or 404.444.5777. Happy House Hunting!!

Ready to buy or sell a home? Then it is time to evaluate the home's response (as well as the surrounding neighborhood's response) to the age-old question, What have you done for me lately?

Appraisals are a key component of the home buying and selling process because they establish the market value of a property, which can vary by the general condition, size, location, amenities, etc. of one home in comparison to similar properties in the area.

Appraisals may sound strikingly similar to other home buying and selling processes, such as the Home Inspection and the Comparative Market Analysis. While the three share some of the same tools of analysis, each is different and serves a separate purpose. When a home is sold, the buyer's mortgage lender will order an appraisal of the ‘subject' property. This is done to make sure the home is worth the amount being mortgaged (the principal amount owed to the bank).

Home inspectors are far more thorough than home appraisers in regards to the condition of the home. Home inspectors test and inspect every aspect of a home, its structure, its wiring and safety features. A home appraiser might note glaring disrepair, but is more concerned with the size and appearance of the property. An appraisal is not a replacement for a home inspection and makes no guarantees to the condition of the home.

What's That Mean for the Seller?
If the resulting appraised value is higher than expected, sellers may feel they have shortchanged themselves; however, with an accepted Purchase and Sales Agreement, there is little that can be done to break the contract to net a higher profit. In this case, prevention is the only cure. Sellers may opt to have a property appraised themselves before marketing. The appraisal will not be accepted by lenders and will increase cost to sellers, but an accurate report can help prevent problems later on. Note, however, that there will likely be some difference in reports between appraisers.

Low appraisals can be forewarned with a pre-market appraisal, but are not necessarily deal-breakers after the fact. Work methodically through negotiations to reach a solution. Sellers have the option of reducing the sale price; improving the property or escrowing a portion of the sale profits may also be an option.

What's That Mean for the Buyer?
Buyers should have preliminary loan approval before the appraisal, but final commitment will not come until the property value is confirmed.

Low appraisals might result in loan denial or concessions with the seller. In addition to the seller lowering the purchase price, the buyer may choose to put more cash down on the property. The solution may be met halfway between the buyer's deposit and the seller's reduced price.

Notations made by the appraiser, regardless of whether the appraisal is high or low, may result in the lender requiring further documentation. For example, long life on the market may require explanation, or shared property access may require signed agreements.

Residential real estate appraisals are a necessary part of transacting real estate where property loans are involved. Appraisals need not be a source of stress to buyers and sellers that have researched a property's worth. When unexpected hurdles do arise, a systematic, solution-oriented approach on the part of both parties will ensure completion of the sale. A good understanding of the function of appraisals can help to eliminate appraisal complications before they become an issue.

Have more questions? Email places2love@gmail.com or call 404.444.5777 - we'd love to help!

Want the convenience of living near Roswell Rd., GA 400, I-285, and Perimeter Mall with a low-maintenance lifestyle? Then the Highlands of Sandy Springs is a real estate community to love!

These upscale traditional, brick townhomes are loaded with upscale features you are accustom to seeing in the newly built real estate of Metro Atlanta and are on par with the townhomes found in Buckhead for roughly $500,000 or more. These townhomes are priced currently in the high $200,000s to the high $300,000s - homes vary in design as some have 3 levels and some have basements.

The Highlands of Sandy Springs are conventiently located just east of Roswell Rd. on Dalrymple across from North Springs High School. Visit http://Places2Love.GeorgiaMLS.com for more information or to view these gems.

Happy House Hunting!

Take advantage of the great prices for homes in the stylish Sandy Springs Hammond Hills subdivision. This exclusive real estate is situated off Hammond Drive between Sandy Springs' major streets Roswell Rd. and Glenridge, just north of I-285.

Hammond Hills features home styles from French Provinical Ranches built in the 1960s to European-style homes built in 2007 to contemporary homes (like the picture shown) built in 2007. Currently, prices ranges from $319,000 for a 4-sided brick, 2 bedroom, 2 bathroom ranch to $989,900 for a 4 bedroom, 4.5 bathroom with a 3 car garage home making something in this real estate subdivision ideal for all different tastes.

To learn more about Hammond Hills, email places2love@gmail.com or call 404.444.5777. Happy House Hunting!

Built this year, you will love the new real estate community AJL Station in Sandy Springs just north of Piedmont Rd. and Buckhead. These beautiful brick homes are still available to be customized by the trendy or classical real estate Buyer.

At the ALJ Station, you can expect to see all of the "bells and whistles" you are accustomed to in modern homes including granite counter tops, hardwood floors, and high-end stainless steel appliances. But get prepared to see the double decks, including a balcony off the master suite with an outdoor fireplace, the custom backsplashes, and the fabulous yard that has room for a pool.

You'll love the convenience of the location and the luxury of the homes in ALJ Station. These real estate properties are price in the mid-$700,000s to the low-$800,000s and feature from 4-5 bedrooms with around 4 bathrooms.

What to learn more about ALJ Station? Then call 404.444.5777. Happy House Hunting!