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Atlanta Condos For Sale

Selling Your Home The Buyer’s Bathroom

January 29, 2016 by Thom Abbott

A Buyer's Bathroom

Selling Your Home  The Buyer’s Bathroom

When you place your home or condo on the market For Sale, it becomes less the owner’s home, and more of a display item. I know that may sound harsh, but seriously, what are we trying to do….SELL YOUR HOME!

Nowhere is this more important to remember than in the bathroom. Buyers don’t want to see the seller’s personal hygiene items, moldy remnants of steamy showers or a soap scum-covered collection of empty shampoo bottles. They want to be confident that this most private of rooms is well maintained and sanitized. The trick to make the area seem less, well…private.

Preparing a bathroom for touring potential buyers is a four step process: clean, repair, sanitize and spruce.

Every surface that can hold something – vanity, toilet tank, shower window, floor – should be divested of as many objects as possible. The same thing applies for anything that can be opened – medicine cabinet, drawers, and linen closets.

Cleaning begins with throwing out any expired medication, make-up that hasn’t been used in a year, nearly empty containers, and any other useless objects found while emptying cabinets and drawers.

The process continues with wiping each shelf, drawer, and cabinet door. When everything is out from under the sink, take the time to check the faucets and pipes for leaks.

REPAIR — If faucets leak, washers probably need to be changed. In some cases, the faucets may be corroded and need to be replaced. If this is the case, opt for an inexpensive and very plain model. Fill the sink with water. If it drains from the sink slowly, pour in some drain clog remover and see if this helps. If not, call a plumber. When everything is clean and in working condition, neatly return items to the cabinet under the sink, using containers for small objects like bath toys, sponges or cleaners.

While the top of the toilet tank is bare, lift up the top and check the water level and condition of the inner mechanisms. Flush the toilet. Does the water refill to the correct level? Does the water shut off when it reaches this level? If not, then the inside mechanism with the seat and stopper at the bottom of the tank will need to be replaced.

This is quite easy and inexpensive to do yourself. Parts are available at your local hardware or home improvement store.

A buyers bathroom selling your homeSANITIZE — Folks will notice a filthy shower. So, spend some time here. Remove personal items – cleanser, shampoo and conditioner, shave cream, razor, body sponges – from the shower/tub area.

Discard items that are unnecessary and store the rest under the sink. Test the faucets and showerhead. Do the faucets turn off all the way? If not, change the washers. Is the water spraying freely from the showerhead? No? Then remove it and check to see if it’s clogged. If it still doesn’t work properly after cleaning, replace it.

Carefully examine tiles and the tub. Does the tub have chips and discoloration? It may need to be resurfaced or replaced.

How do the tiles look? Any loose pieces or chips? Are there cracks in the grout? Scrub the bathtub, tiles and grout until they are mold and mildew free. Regrout gaps between tiles. Scrape and replace discolored caulking.

When the shower and bathtub have been overhauled, top off your repairs with a new, crisp shower curtain or liner in a neutral color.

Take a good look at the ceiling and walls. Do you see any mold, mildew, fingerprints or grime? If so, scrub it with bleach. Cracking or curling paint should be scraped and repainted in a neutral color.

A rule of thumb: Place only three items on the vanity area. Many real estate experts suggest these include potpourri, a new or clean, filled soap dispenser, and a plant. It’s a good idea to keep the toilet tank top cleared as prospective buyers and inspectors may want to peek inside it.

Tips for Selling Atlanta Real EstateAfter the big clean-up and repair job in the bathroom, it’s important to maintain the fresh smell and appearance each day the house is on the market. The space should be kept uncluttered, clean and sanitized. It should reflect well on the house of which it is a part and offer few glimpses of the personalities who currently live there.

At this point, a homeowner enters the sprucing-up stage. After cleaning every nook and cranny in the bathroom, it’s time to add the finishing touches. All dirty towels and wash cloths, bath mats and robes should be removed. A clean set of towels should be displayed before the house is shown. Trash baskets should be emptied and floors wiped daily. All personal grooming items – tooth brushes, make-up, combs and brushes, hair dryers, perfume, etc. – should be tucked away, preferably in a container and stored in a drawer or cabinet.

Filed Under: Blog, Buyers, Real Estate Tips, Sellers Tagged With: Seller Tips, Sellers

How Do Sellers Price Their Home?

January 28, 2016 by Thom Abbott

We’re often asked by our clients, “How much under the listing price should we offer?” This is an excellent question. The answer is difficult. There are four basic ways that sellers price their homes.

How Do Sellers Price Their Home? (and How Much should I offer?)

Chamblee Homes For Sale1. Ridiculously Overpriced!

These sellers have listened to a real estate consultant over-inflate the value of their home in an effort to obtain the listing. There’s a natural tendency on the part of sellers to list with the real estate consultant who gives them the highest promise. Some real estate agents give the seller a high “value” in an effort to obtain the listing.

These homes can be 10 to 20% overpriced. These sellers may need a “dose of reality” for a few months before they begin to realize that their home is way overpriced compared to others in the area.

The longer an overpriced home is for sale, the more likely we can get the seller to face reality and sell at a fair price.

2. A Little Overpriced…

Perhaps 75% of all homes for sale are priced in this range. These Sellers fall into two categories:

  • Those who feel their home is worth every penny of the asking price
  • Those who want to leave a little “negotiating” room. These homes can be 4-10% overpriced.

3. Priced at Fair Market Value

These sellers have carefully, and realistically studied other homes for sale. They’ve priced their homes very competitively. These homes usually sell within 30 days, or less, at very near the listed price.

In an active market, timing is everything.

In the good old days, you might have the luxury of viewing a home several times — even dragging your relatives to see it — before you actually made an offer.  “He/she who hesitates is lost” aptly explains buyers who dally when making a buying decision today!

4. Priced Below Fair Market Value

Sellers Tips For Pricing Your HomeThese homes are priced below value. Perhaps the seller wants a fast sale.

Perhaps the real estate consultant recommended too low a price.

These homes usually sell within 7-10 days, at or above the listed price. There are usually multiple offers in this situation, and you may need to make your first offer your best offer.

While it’s our intention to provide this information to a prospective BUYER  in how homes are price, a SELLER might want to read this as they look at how to price their home to most effectively get it SOLD! If you are looking to SELL your home, we can help there too! 

We are here to help you! Feel free to call us at 770.713.1505 or fill out the contact form and give us an idea of what you are looking for in your new home! We will be back in touch in a jiffy!

If you answered No to this question, Please click on the Preferred Vendor list Above once you have completed this form. There you will find contact information and links to our recommended Mortgage Lenders.
Sending

 

Filed Under: Blog, Buyers, Real Estate Tips, Sellers Tagged With: Buyers, Intown Atlanta Real Estate Buyers Guide, Seller Tips, Sellers

3 Important Buyer Tips for 2016

January 20, 2016 by Thom Abbott

There are certainly many Important Buyer Tips than just these three tips you need to know if you are going to be buying Atlanta real estate. But as we move into 2016 and the “season” heats up, here ARE three very important tips a Buyer should be keeping in mind!

3 Important Buyer Tips for 2016

Home Buying Tips DON’T WAIT!!!

According to a recent survey from REALTOR.com™, more than 85 pecent of Buyers thinking about buying a home or condo, or going to wait until the sprin or summer of 2016 to start. With the limited inventory in the Atlanta area, waiting may, or may not help you. There may be more inventory on the market as Seller’s decided to wait to list. But there may be more Buyers. More Buyers + a FEW more Sellers = High Demand + Multiple offers. If you wait, be ready to bring your game on, and maybe not so much negotiation on the home price.

Mortgage Shopping 101

When you are start the mortgage process, don’t presume that the first one is the best one. Shopping around is a good idea to find the right mortgage, and the RIGHT mortgage PERSON to help you! We have a great team of lenders here to help you through the process! And when you are shopping for a mortgage, the credit reporting services can see what you are doing, and it does not impact your credit. (Now, go buy some new furniture or a new car…that’s another story!) Also, in the tight Atlanta real estate market, you want a pre-approval from your lender….NOT a pre-qualification! There IS a DIFFERENCE!! A pre-approval means that your loan officer has seen the required documentation (W-2, paycheck stubs, bank statements, etc) and has put you through a pre-approval process. Now they just need a contract, appraisal and then a “clear to close.”

Also, falling under both Waiting and Mortgages is the fact that interest rates WILL rise this year! We’ve had one change, and there are sure to be more to follow. In increase in the interest rate can have an impact on your buying power.

Consider New Construction

Now, if you are looking for a condominium, then new construction will be quite the challenge. Most of the high-rise construction you see in areas like Midtown and Buckhead are all apartment (for rent) construction. But there are some exciting areas with new construction homes and townhomes that offer you Intown (ITP — Inside The Perimeter) living options. Areas like Brookhaven, Chamblee and Doraville are starting to see new construction. Doraville, for example, is a sleeper area that we expect to see take off in the next few years with construction as well as a marked increase in the home prices. The redevelopment of the Doraville GM Plant into Assembly Doraville will be a game changer for this entire area!

Filed Under: Blog, Buyers Tagged With: Buyers, Intown Atlanta Real Estate Buyers Guide

The Community Association Disclosure – What Is It?

January 20, 2016 by Thom Abbott

Midtown vs. Buckhead. Where Would You Want To Live?

Whether you are purchasing a Midtown Atlanta condominium, or a newer single family home, there is a pretty good chance that you will be dealing with a Homeowners Association, or HOA. If so, you will WANT a Community Association Disclosure as part of your real estate contract.

The Community Association Disclosure – What Is It?

As used in the State of Georgia (remember real estate, and real estate law is local, so be sure to check rules if you live in another state) the Community Association Disclosure Exhibit is broken down into TEN sections:

  1. Type Of Association
  2. Existence of Master Association
  3. Contact Information for Association
  4. Annual Association Assessments
  5. Initiation Fee
  6. Account Statement Letter
  7. Special Assessments
  8. Assessments Pay For Following Services and Amenities
  9. Additional Fees for Services and Facilities
  10. No Warranty –I’ll call this when all else fails…..
Type Of Association

As a Buyer, you will find out if the Association is a Condominium Association, Homeowners Association, and/or if it’s a voluntary association. The first two will most likely apply if you are buying in a condominium/town home community or newer single family home neighborhood. Older neighborhoods may have a voluntary association were you can join if you wish, but it’s not required.

Existence of Master Association

This is common place in condominium buildings that have retail space in them. Their is a Master Association that oversees the management and operation of the retail component of the building, and often times, parts of that Master Association’s responsibilities overlap to the condo association. The first major one that comes to mind is retail parking. Most often, the residents will have to pass through the retail parking to reach residential parking.

HOA Contact Information for Midtown Atlanta Condo BuildingsContact Information For Association

While every part of this form is important, this part is especially important. If you want clarification, or have more questions about the association, Who Do You Call? As you will see in the “No Warranty” section, “Buyer Beware” and you should ask questions if you have them.

Annual Association Assessments

Here your monthly HOA fee will be listed as a 12-month total. Again, you want to confirm this amount is correct with the HOA.

Initiation Fee

While not all do, MOST condominium associations have an Initiation Fee, or it is referenced in the Purchase and Sale Agreement as “Contribution to Working Capital Fund.” Your Initiation fee. Note, on this Exhibit, it says the BUYER is responsible for paying this fee. You want to make sure your agent negotiates to get the SELLER to pay this contribution. (You will find this under Item #20 “Common Expense Assessments” in the Condominium Purchase and Sale Agreement.) Payment of this fee by the SELLER would be covered under a Special Stipulation added to the contract.

Account Statement Letter

As part of the Closing Process, the HOA issues a letter to the Closing Attorney, advising of any necessary fees that are due to the HOA as part of the sale of the home or condominium. These babies can be pricey!!! Make sure the Box is checked “Seller Pays.”

Special Assessments

Your monthly assessment, or HOA Fee, pays for the operation and maintenance of common areas of the condominium building or common areas in a subdivision. Part of those fees are put into a Reserve Fund to that the HOA has money in the future to make repairs and handle that maintenance. On occasion, something may come up that requires immediate attention and the Reserve Fund cannot cover it. Think security system upgrade, or in an older building perhaps a major lobby renovation.  These types of expenditures cannot be made without a majority of the owners voting for such a Special Assessment.

And these can range from $1000 to $20,000! So, you want to again confirm with the HOA (I’ve seen a Seller forget that an assessment was passed, and not paid) if any such thing is being considered.

Assessments Pay For Following Services and Amenities

WHAT is paid for as part of your monthly HOA fee should be listed here. Again, an important part of this Exhibit. Some HOA’s cover water and sewer, some do not. Again, you want to know what services you are already paying for, and what additional services (cable TV, Internet, etc) you will be responsible for.

Additional Fees For Services and Facilities

I can tell you 90% of the time, this section is left blank. Ah, but I’ve a new keen appreciation for there BEING something here! Many condominium buildings now charge Move In and Move Out fees to residents, be they an owner or a tenant (if you have a leasing permit). Some buildings now charge a rental fee for residents to use the club room. Some buildings even do not allow the Club Room to be reserved for private events. These are all things you would/should know before purchasing that home or condominium.

Community Association Disclosure What Is It

 

No Warranty

And when all else fails, “Buyer Beware.” You are responsible, as the Buyer to ask questions and be informed.

The Community Association Disclosure Exhibit. An important part of your Midtown Atlanta condominium purchase.

Filed Under: Blog, Buyers, Real Estate Tips

5 Reasons to Use a Real Estate Professional

January 5, 2016 by Thom Abbott

Do I really have to give you 5 Reasons to Use a Real Estate Professional? So I have to give you 5 Reasons to see a dentist, not a doctor if you have a toothache? Buying your home or condo is probably the largest single investment and purchase you will ever make. Mind you you may make that purchase more than once during your lifetime. That’s a GOOD thing! You are either moving up (you can afford more, bigger or different location) or you are moving down (downsizing) because you want to spend less, get smaller or a different location. But, just so we can keep it real….

5 Reasons to use a Midtown Atlanta Realtor5 Reasons to Use a Real Estate Professional

  1. Experience — As a real estate professional, we are in there and out there every day. It’s what we do for a living. We have continuing education requirements ( a minimum to keep our license) but many of us take even more training in everything from contracts to social media marketing to inspections.
  2. Paperwork and Process — Whether you are Buying or Selling, this is a legal process. The “i’s” have to be dotted…the “t’s” have to be crossed. Deadlines, and contingencies, amendments and more. We (along with assistants and/or teams) manage all that process from start to finish…and beyond. (We remind you about filing for your homestead exemption for one!)
  3. Pricing To Sell or What to Pay — We are here to help you understand today’s real estate values when you list your home For Sale or when you make an offer. Yes, I know you have granite counters from Timbucktu….but that may not really affect the amount of your list price.
  4. Market Conditions on Your Block or in Your Building — What is selling across the street and at what price may, or may not, have an impact on what you can sell your home for. Knowing the upgrades or different floor plans helps in determining how the numbers affect you. In condo buildings, if enough sales happen in the same building, often times, the appraiser will not look outside of your building.
  5. Negotiations — Buying and selling real estate can become an emotional event. Maybe you as a Buyer have your heart set on a home and the Seller won’t budge on something. Or you are selling your home, and all those years and memories start to mess with your objective to sell and move to the next chapter in your life. We are here on either side to act as a “coach and advisor” with all parties throughout the home buying or selling process.

5 Reasons to Use a Real Estate Professional and help you make your home purchase or the sale of your home as stress free and enjoyable as possible!

Filed Under: Blog, Buyers, Real Estate Tips, Sellers Tagged With: Buyers, Intown Atlanta Real Estate Buyers Guide, Seller Tips, Sellers

5 Tips For Being A Better Buyer

January 3, 2016 by Thom Abbott

So you are ready for 2016 and ready to make that home or condo purchase! Yippie! We are ready to help you! But hold your horses just a minute there partner!!!! We need to give you 5 Tips For Being A Better Buyer!

5 Tips For Being A Better Buyer

Why….YES! There ARE some things YOU can do to be a better home buyer! Let’s look at the 5 “B’s” of Being a Better Buyer.

  • Buyer TipsBe Pre-Approved This is much different than being pre-qualified. When you have been pre-approved, your Home Buying Team Lender will have looked at your income and supporting documents like income tax returns, W-2’s, bank statements and such. He/she will have a good idea if there are any “red flags” that need to be addressed. They can often do what is called “desktop underwriting” whereby this information is reviewed and you are given a pre-approval letter. In a market with tight inventory like we currently have (2016) in Atlanta, you will need that pre-approval letter to be attached with your Purchase and Sale Agreement. A Seller is not going to take their home off the market while you find out if you can get a loan.

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  • Be Patient, But Be Prepared — Now, if you have time to look for your new home, you need to be patient. As I just mentioned, with the limited inventory we have available, the home or condo you want may not yet be on the market when you start your home search. That said, be prepared to move quickly to look at, and make an offer on anything that comes on the market that meets your wants and needs. You won’t be the only one looking, and the possibility of being in a multiple offer situation is very realistic. Hence, why we want that pre-approval we just mentioned above. This is the time to have “tight communication” between you and your agent (hopefully that is ME!) While I will be looking daily for new homes on the market, you might see something somewhere that I did not. Maybe it had 1 more bedroom than I was searching for, and so you found it. Or it has no basement (you wanted one) but the rest of the house is fabulous!!! Know the best way to communicate your find to your agent ( text, email, call, all of the above!) so you can get to see the new listing as quickly as possible.

**********

  • Be sensible — With tight inventory, if a condo or home is listed at $350,000, there is a pretty good chance the Seller is NOT going to take $295,000!! Now, your agent will look at comparable sales in the building or neighborhood, as well as any upgrades or special features the condo or home may have, and there is always a possibility the home is overpriced. But if the listing agent did their job, it should be priced right. Believe it or not, there is nothing wrong with paying the list price for a home. Again, as long as it is priced right. Sure, you want the deal. The deal may be the list price. If there is not a lot of activity on the home you are looking at, you might have more negotiation room. But if you end up in a multiple offer situation, all bets are off!

**********

  • Be Ready — to make several offers before you get the home you want. You could have a Seller that HAS overpriced their home and won’t budge. So your offer does not get accepted. Or, there is the multiple-offer situation and we get outbid by another Buyer. (Maybe they were paying cash, no closing costs, shorter closing time, etc.) But you also want to be ready to move quickly. That perfect home or condo could pop up in one day, and you are Under Contract that night! It happens every day in Atlanta real estate!

**********

  • Be Positive you have the right real estate agent to help you. If you are looking at condos for example, and you felt the agent that your neighbor used in the burbs was the right one for you to work with, be sure. If they can’t answer your questions about HOA’s or condo docs, or common elements, or parking….you may not have the right person working for you. On the flip side, if you are looking for a space to have a horse (yes, you CAN do that in Atlanta!) then make sure your agent knows that the 5 acres you are looking at is ZONED to have horses, and HOW MANY you can have!!

5 Tips For Being A Better Buyer

Filed Under: Blog, Buyers Tagged With: Buyers, Intown Atlanta Real Estate, Intown Atlanta Real Estate Buyers Guide, So You Know

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Thom Abbott

Associate Broker, REALTOR(R)
905 Juniper Street, NE Suite 110
Atlanta, Georgia 30309
770.713.1505 Direct
404.876.4901 Office

 
 
 
 
 
 
 
 
 
 

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