Zillow.com is actually the #1 site for Home Owners to check their home’s value.

What most don’t realized is how inaccurate that Zestimate really is. Check out this chart below from Zillow.com (go to www.Zillow.com, scroll all the way down to the bottom of the page & click “Zestimate Values & Accuracy” and you’ll see this chart as well). You can also drill down by Counties for a better look at your metro Atlanta area.

Basically, Zillow’s Zestimates Home Values are not calculated by a Real Estate Market Specialist and they apparently aren’t very accurate at all. If Zillow has a 20% error rate in your area (Atlanta’s is 24% off) then that’s a potential 40% swing (20% higher & 20% lower) than what they “Zestimate” your home is worth. With that said, if we are 20% off in either direction, we wouldn’t still be in business, and our Team has been selling homes in the metro Atlanta area for 10+ years now! And as a side note: of the last 5 listings we’ve taken & sold, the Average Days on Market is ONLY 18 days and the Average List Price to Sales Price Ratio is 98%!! That’s a statistic that we’re very proud of and even get excited about!! We’re getting our sellers more money faster. That puts smiles on faces!

Based on Atlanta area market statistics, if you overprice your home (even by a little bit) it will likely take you 250+ days to sell your home & you reduce your price until you only get around 80% of your original list price. But if you price it correctly, you can sell within 30 days and even net yourself more money by pricing it properly rather than overpricing. And don’t worry so much about leaving “negotiating room” because that’s how you price yourself out of the market… the hot properties sell so close to list price that if you price it right, you won’t have to negotiate much at all. And another way to look at it: if you overprice, you’re likely not going to get an offer to negotiate anyways, so you’d be best off pricing it correctly and having a really good offer in hand in a short amount of time. The alternative can be a long, drawn out, frustrating and defeating process, without a better way of putting it.

Our job is to look at the market from a practical perspective and advise you on price based on actual comparables for your home, whether it be an Active Listing, a Pending Sale or a recently Sold home in your neighborhood or immediate area in the last 3-6 months.

It’s a simple strategy: we help you price it right, stage it, a professional photographer takes GREAT photos and from this (especially the price) you’re able to draw quick attention, and that’s what you want! A feeding frenzy! That’s when you get your BEST offer(s). You want an offer within 30 days and hopefully multiple offers, and you’re not going to get that being 20% off on pricing by using Zillow Zestimates.

So don’t trust Zillow to price your home for you… go to a Real Estate Agent you trust and you’re on your way to your selling and buying goals. Go with the pros on this one… “do what you do best and let an expert do the rest.”

And if you’re still just wanting to get a glimpse of the market before calling an agent, click here use this FREE Market Snapshot tool to view market data (including home sales), analysis & trends in your area. It will send you bi-monthly updates so you can keep up w/ the market until you’re ready to speak with a Realtor (like us!).

Hope this was helpful and thanks for reading!

The KellySellsAtlanta.com Team of Keller Williams Premier Atlanta
404-863-8680 | hometeam@kellysellsatlanta.com | www.KellySellsAtlanta.com

Listed below are a few of the most common issues that can arise during the process of a Real Estate Transaction, which usually last 30 to 60 days from the Contract Date (aka Binding Agreement Date) to the Closing Date. Our Team’s job is to avoid these scenarios, along with the help of our preferred lender & closing attorney. Let me know if you need a referral to them & hope you find this info helpful:

SPECIAL CONSIDERATIONS FOR REAL ESTATE CLOSINGS:

A) FHA Condo Considerations:

a. Condominiums must be covered by hazard and liability insurance and, when applicable, flood and fidelity insurance.
b. No more than 15 percent of the total units may be in arrears (defined as more than 30 days past due) of their condo association fee payments.
c. Condo associations must have a reserve account which holds an amount equivalent to at least 10% of the condo association budget.

B) Furniture Sold as Part of the Contract:

a. Be cautious when including personal property, such as furniture, in the contract. Appraisals are consistently coming in lower than the sales price, and an inflated sales price due to personal property can exacerbate that issue.

C) Seller Mail Aways/Seller Signing Early:
a. Be aware of whether the buyer has an FHA loan. If so, the lender will send documents that must be signed by the seller with the loan package. The seller must have access to a fax machine on the day of closing so that they can sign the FHA docs and fax them back to us as these docs are usually required for funding authorization.

D) Closing Costs:

a. Make sure to prepare both the buyer and seller that closings costs can change. The lender can put a cap on the amount of seller concessions allowed or a minimum on what the buyer must contribute. Therefore, the closing costs listed in the contract will not always be the closings costs allowed to be paid at closing.

Again, our Team’s job is to avoid these issues – whether we’re the Buyer’s Agent or Listing Agent. Our Preferred Lender and Closing Attorney are with you every step of the way to ensure a seemless closing & experience for our clients. I’m serious – they’re fantastic, and our business woulnd’t be where it is without them. We’re definiltey blessed to have found them & our clients have always felt the same.

Hope this was helpful! Let us know if you need us…

The KellySellsAtlanta.com Team of Keller Williams Realty
404-863-8680 | www.KellySellsAtlanta.com | HomeTeam@KellySellsAtlanta.com

Keep more of your own $$ by appealing your property assessment valuation if it’s too high. If you haven’t received an assessment valuation this year, call the county or go online & look for a PT-50R form (Property Tax Return form) and also find out what your current valuation is (you can also find this online through the county tax assessor’s or tax commissioner’s website or office). We just won our appeal & reduced our property valuation by $42k…2 years ago we reduced it by $38k.  Go save yourself some of your OWN $$$.  It’s a little work (which = a little pain in the butt) but if you can save some $, it’s worth it.  I have informational materials if you need them that will help you along…also, after your assessment appeal is finalized they will freeze that valuation for 3 years so you don’t have to worry about it while (unless you decide to appeal again)!! – hope this helps…

The Kelly Sells Atlanta Team | 404-863-8680 | www.KellySellsAtlanta.com
#1 Real Estate Team in Keller Williams Premier Atlanta - Buckhead office

Since lending restrictions have tightened, FHA has BY FAR been the most popular loan program out there.  They have competitive rates (practically as low as you’ll find on a 30 year mortgage), the LOWEST downpayment option at 3.5% and they will loan up to $346,250 for your home purchase, so a home slightly over $350k would still qualify for an FHA loan with the 3.5% downpayment on top of the loan amount.  This loan program has had a LOT to do with the metro Atlanta Real Estate Market’s stabilization.

Coming in early April, FHA’s upfront mortgage insurance should increase from 1.75% to 2.25% of the purchase price.  This fee is paid at closing as part of your Closing Costs or “rolled” into/added to your loan amount & you basically pay it with each mortgage payment.  This will increase a payment approximately $5/month on a $150,000 loan.  Nothing drastic…

Spot approvals (for condos) will be going away, possibly by end of February, but this has been rumored for a few months so we’re not sure when they’ll finally make this official.  Spot approvals are used for Condo units when the Building, as a whole, hasn’t been fully approved by FHA.  That doesn’t mean something’s wrong w/ the building…it may only mean that the building HOA or Management hasn’t taken the time to go through the FHA approval process.

Lenders will still be able to do FHA Spot Approvals, but it will just be a little more difficult for them & it will take a little longer to close a loan.  It would probably be smart to add 15 days to the Contract to Close timeline to give the Lender a little more time.  Some lenders, like the one we use, will still get the job done in 30 days if needed…give me a call & I can put you in touch with him.  Many others you talk to will ask you to schedule a 45 day closing to make sure they can get the job done in time, but our guy is no feet dragger…his team will make sure you’re not inconvenienced by this change.

Whether you’re thinking of Buying or Selling, this is a great market to reach those goals.  Buyers want that $8000 1st Time Homebuyer Tax Credit or the $6500 Move-up Buyer Tax Credit.  And since Buyers have been so active, the home inventory has drastically reduced, making it a very opportunistic market for Seller’s with a well priced home in good condition!!

Please feel free to call/text/email us with any questions or if we can help you in any way.

The KellySellsAtlanta.com Team
#1 Team in Keller Williams Premier Atlanta/Buckhead
404-863-8680 | aaron@kellysellsatlanta.com
www.KellySellsAtlanta.com
>> click here to see what homes in your n’hood are selling for…>>

Many homes built prior to 1978 have paint which contains lead.  Lead based paint which is in good condition is usually not a hazard, however, lead based paint that is peeling, chipping or cracking may need immediate attention.  If a pre-1978 house is sold, federal law requires sellers to disclose known information on lead based paint hazards before selling the house.  Sales contracts will include a federal form about lead based paint in homes.  Buyers will then have up to 10 days to check for lead hazards.  A lead based paint inspection is generally $150 or more.

Give us a call & we’ll guide you to making the right decisions when it comes to buying or selling a home.  We’re here to help you reach those goals.  We’d love be your Atlanta Real Estate advisors.

More “What to Watch For” coming soon…

The Kelly Sells Atlanta Team | 404-863-8680
Great Service for Great People…

We will have more information out on this shortly, but here are the highlights from today’s edition of USA TODAY:

Washington – Senators agreed Wednesday to extend a popular tax credit for first-time home buyers and to offer a reduced credit to some repeat buyers.

The Tax credit provides up to $8,000.00 to first-time but is set to expire at the end of November.  The Commerce Department said Wednesday that new home sales fell 3.6% in September, and some industry representatives blamed uncertainty about the tax credit.

Senators agreed to extend the existing $8,000.00 tax credit for first-time home buyers while offering a reduced credit of up to $6,500.00 to repeat buyers who have owned their current homes for at least 5 years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.

The tax credits would be available to home buyers who sign sales agreements by the end of April.  They would have until the end of June to close on their new home, according to a summary of the legislation being circulated among lawmakers.

If there’s anything we can do to help someone you know that needs to buy, sell or wants to invest, please don’t hesitate to call us.  We’ll follow up w/ your referral today & do everything we can to make you look like a hero.

Your next move is our business…

The Kelly Sells Atlanta Team
www.KellySellsAtlanta.com > click to search all metro Atlanta Homes for Sale

10 Questions To Ask Your Realtor® Before Buying a Home…

1. Are you a full-time professional Realtor® and how long have you worked full time in real estate?

Absolutely.  With that said, as with any profession, the number of years a person has been in the business does not necessarily reflect the level of service you can expect, but this is still information you want to know and it is a good starting point for your discussion.  Knowing whether or not your Realtor® practices real estate on a full-time basis can help you foresee scheduling conflicts and, overall, his or her commitment to your transaction.

Kelly started this company over 10 years ago and Aaron has joined her since, along w/ the rest of the Team.  This business is our livelihood and since so much of our business comes from referrals, we’re committed to customer service.  After all, a referral is the best compliment we could ever receive.

2. Do you have a Team or Staff to handle different parts of the purchase transaction?

Our Team has a Buyer’s Specialist, a Listing Specialist, an Admin and a Closing Coordinator.  Our office partners with a prominent Closing Attorney’s office in Atlanta and we also have a Lender we work very closely with that will NEVER disappoint you if you’re shopping the best rates & loan packages.

Although we have an Admin Assistant and a Closing Coordinator, we stay involved in every step of the process and we’re only a phone call, text message or an email away!

Buyer Specialist: Aaron Allen | 404.863.8680 | aaron@kellysellsatlanta.com
Listing Specialist: Kelly Allen | 404.606.2219 | kelly@kellysellsatlanta.com
Team Admin: Lorena Theiler | lorena@kellysellsatlanta.com
Closing Coordinator: Holly Syers | hollysyers@kw.com
Closing Attorney: Ferguson McManamy Buckhead | 404.705.7933
Lender: Mark Daker with Fidelity Mortgage | 770.649.4949 | mark.daker@lionbank.com

3. Who selects the homes I will see?  Do you have a website that will provide me with useful information for researching homes, neighborhoods, etc?

Approximately 90% of homebuyers start their search for homes and home buying information online. There are certain privacy and comfort levels that you might appreciate in starting a preliminary search this way, and often it is just a matter of convenience to have 24-hour access to information.  You may start your research here on our website, but once you’re getting serious and ready to take the next steps, we will set up a personal, tailored search and webpage for you which will allow you to see the homes that meet your search criteria and you can also add notes, categorize and prioritize the properties so that you start to narrow your focus.  You will receive daily updates from your personalized webpage with new and reduced property listings that match your wants/needs.

4. Will you show me properties from other companies’ listings?  Who do you represent in the transaction and how do I benefit from having you represent me?  How do you get paid?

Yes, we have access to all listings that are Active and allow agents to access them via a lockbox and we will never limit your search to only our company’s listings.  (Some real estate companies do offer their buyers’ agents a higher commission if they are able to sell “in-house” listings and there may be added incentive to show you a more limited range of homes than you might consider. If this is the case with your Realtor®, you should be very clear on how this will impact your home search). 

As full-time Realtors, we study the market and have access to all of the market data, active listings and comparable sales in the metro-Atlanta area.  An Exclusive Buyer Brokerage Agreement in the State of Georgia protects your rights as a Buyer and details the Buyer’s Agent’s fiduciary obligation to work in the Buyer’s best interests and negotiate on the Buyer’s behalf.  We like to call this your Buyer Confidence Form.  As part of the Georgia Association of Realtors we’re bound by ethics and your needs are our focus and any information you disclose to us will always remain confidential. 

A Buyer’s agent is typically paid through the listing agent’s commission.  This commission is set with the listing broker or agent when the listing is taken and the listing agent will usually compensate the Buyer’s agent approximately 50% of that commission for bringing a Buyer.  So, what you’ll want to take from this is: BUYER AGENCY IS FREE TO THE BUYER!!!  Nice, right?  And if you ever decide that you are not satisfied with our services, this Buyer Brokerage Agreement can be terminated at any time with no haggle from our end.  Absolutely nothing for you to lose.

5. What is the current appreciation/depreciation in our area?

This is a case-by-case answer, but we have market statistics at our fingertips and can sit down with you to show you market trends, comparable listings and sales, how long it takes listings to sell, # of foreclosures in that area, sales price to list price ratios and ultimately what’s a good deal and what isn’t.  We’ve also set up another FREE tool for you to get a feel for the market you’re interested in.  Go to:

http://www.kellysellsatlanta.com/blog/free-neighborhood-report/

6. What strategies should I use when competing with other buyers for the same home?

Wow!  This happens very often, especially with foreclosures.  Banks are listing homes so low that they attract multiple offers from Buyers hungry for a steal, and these offers come in quickly…so you have to be ready to react when a deal presents itself (which brings me to question #7 below).  And since the listing agent represents the seller and the seller’s best interests, they may drop a hint or 2 but they won’t reveal any of the details of the other offer(s) that they’ve received. 

What you want to do 1^st and foremost is: decide how badly you want that home and whether or not you would be discouraged if someone else got it.  At that point, using comparable sales and values in that neighborhood that we retrieve for you, you want to make the best offer you feel comfortable with so that you know at the end of the day, win or lose, you gave it your best shot.  There may or may not be any negotiations in a “highest and best” offer situation.  Keeping stipulations and requests of the seller at a minimum can’t hurt, but you’ll always be protected by the Due Diligency Period (a.k.a. Inspection Period), which is generally negotiated to somewhere in the range of 7-21 days.

7. Should I be pre-approved by a Lender – can you help me with that?

This is actually the very 1^st step when getting ready to buy…the lender will estimate what your PITI (Principal, Interest, Taxes & Insurance) should be and help you determine a comfortable price range use in your home search.  You’ll need a pre-approval letter prior to submitting an offer, so you want to have one current and handy so that we’re ready when that perfect place comes on the market! 

You may have a lender you’d like to use, but it never hurts to get a 2^nd opinion.  Call Mark Daker with Fidelity at 770-649-4949.

8. What distinguishes you from other Realtors®? What is your negotiating style and how does it differ from those of other Realtors®?

It should be important to know that your Realtor® has unique methods of overcoming obstacles and is an effective negotiator on your behalf, but most importantly that your Realtor® can advocate for you in the most effective ways.

Our Team carries almost 15 years of negotiating experience and we have an office of over 100 agents, along with a network of professional (like our Lender and Closing Attorney) that we can go directly to with questions or concerns that will help us avoid issues before they even arise; after all, over 70% of lawsuits in Real Estate transactions result from an unrepresented party!!

As for our personalities & negotiating styles: We’re very easy to work with, laid back and down to Earth, and we approach each transaction and negotiation this way – they always say you catch more bees with honey then vinegar.  However, when push comes to shove, or if a situation arises that causes us to have to fight for our clients, we have no problem adjusting our belts and handling business. J

9. How will you keep in contact with me during the buying process, and how often?

Once we’ve met and done our initial consultation, we begin your search. We have access to systems that will notify you of new properties as they come on the market (which could happen several times a day or several times a week).

From the results of the initial search, you may have a list of homes you’d like to see.  We’ll schedule a time so that our Team can make appointments for us to view the properties together.  We can stay in contact as often as you’d like, working at a quick or slower pace.  Most of our clients see approx 8-10 homes before making an offer. 

Once an offer is made, negotiation starts and we’ll be communicating multiple times each day, most likely.  Once the offer is accepted and the agreement between all parties becomes “binding” the lender, closing attorney, home inspector, etc become involved and work towards the ultimate goal of getting you into your new home ON TIME, SEAMLESSLY and SMILING!

10. Will you give me names of past clients who will give references for you?

Absolutely – just ask.  We would, of course, like to ask their permission each time, but as long as they don’t mind receiving your phone or email then we wouldn’t mind either.

Today, May 13, HUD Secretary Shaun Donovan decided to allow Buyers to use the $8,000 1st Time Buyer Tax Credit towards their downpayment on FHA-insured loans. Previously, the home buyer would have been unable to access the tax credit until they filed their next annual tax return or an amended 2008 tax return and received the refund from the IRS.
FHA only requires 3.5% downpayment and sales prices up to $346,240.
This is a much needed boost as we enter Spring and Summer selling season and should guarantee an increase in sales through the end of the year. A word of caution though- you must close by 12/1/09 in order to receive this money.
Call us now at #404-606-2219 to get a free list of foreclosures in your desired Atlanta area!