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.

See all of the homes for sale in this sought after Cobb County School District – Sope Creek Elementary, Dickerson Middle, Walton High: click here…

This is one of the most popular Elementary, Middle & High School combos in all of Metro Atlanta…and it’s so close to Sandy Springs & Buckhead, you’d never even feel like you’re waaaay out in Cobb County.  Get your kids into the best school district possible!

All the Active listings are right here & updated in Real Time! Enjoy & let us know once you’re ready to go see some homes and if you’d like a more tailored search (to your price range, minimum bed & bath combination, etc) just click here to shoot me an email & I’ll get it going…

Right now, the Median List Price in the area (for homes under $1mil & over $200k) is $$595,541.

The Median Sales price since 4/1/09 has been $473,217 and there are currently 18 under contract. 

There are 43 homes currently available but only 4 listed under the max FHA Loan Amount of $346,250 & only 7 that are listed under the $417,000 Jumbo Loan amount! (FHA requires only 3.5% down, Conventional Loans 5%, but Jumbo requires 20%)

Don’t hesitate much longer!  There are just over 80 days left to qualify for the $8000 Tax Credit for 1st Time Buyers.

www.KellySellsAtlanta.com for all your metro-Atlanta Real Estate needs.

The Kelly Sells Atlanta Team > your next move is our business…

1% off on your list price could be the difference between a quick sale (25 days on the market) and hybernating on the market for over 200 days!  1st quarter was 29 days on mkt for well the well priced homes – so the pace is picking up!

Statistics show that if you’re priced correctly the 1st time, you’ll sell in 25 days for 96.9% of list price – crazy, right?  I bet your neighbor didn’t tell you that the last time you talked Real Estate, and I know the news didn’t leak it…

However, if you miss on your pricing, even by a little, you could end up selling for 75% of original list price and torture yourself for months & months & months cleaning & praying, wondering what the problem is & why your home won’t sell. (more…)

Calling all jazz aficionados! Grant Park will be hosting the 2009 Atlanta Jazz Festival May 23/24, Memorial Day weekend. Every day in May, Atlanta will embrace its musical roots by bringing the nation’s
most high-profile jazz musicians to venues around the city, culminating in a festive jazz-filled weekend in Grant Park.
Artists include: Rialto All Stars, Russell Gunn & Elektrik Butterfly, Freddy Cole, Mausiki Scales and the Common Ground Collective, Cindy Blackman (drummer also with Lenny Kravitz), Hiroshima and more!
For more information on the Atlanta Jazz Festival, please call the information hotline at 404.853.4234 or visit the website at www.AtlantaFestivals.com. Bring your blanket, ice-cold drinks and a picnic to the park and get ready for a great time!

While you’re in Grant Park, please stop by one of our newest listings! The KellySellsAtlanta.com Team will be holding 431 Atlanta Avenue, 1 block from Grant Park, open both days. Stay tuned for times.

Named after its location at the intersection of Virginia and North Highland Avenues, this district still remains a popular spot for Atlanta’s young professionals. At one time this prime area was in danger of becoming part of a planned highway system, but with the efforts of community leaders and activists, the area revitalized itself to become the urban professional’s dream. Virginia-Highland is the area within the Atlanta city limits bounded on the north by Amsterdam Avenue, on the south by Ponce de Leon Avenue, on the east by Briarcliff Road, and on the west by the Southern Railroad Line.

Virginia Highland & it’s residents can remain proud of their investment, because the neighborhood seems to be bucking this current real estate shift and holding value:

In 2007 the neighborhood experienced 123 sales. Their average sales price was $639,127. On average, it took 63 days for these homes to sell.
In 2008 there were 96 sales (a 22 % decrease), but the average sales price stayed strong at $636,790 (a minimal decrease of less than 1%).  On average, it took a few days longer for the homes to sell, but still only took 66 days to sell a VH home.

The most current data we have thus far in 2009 shows that there have been only 7 home sales (for an average of $521,071) with 5 currently under contract, and we typically see higher priced home sales in the summer months (mainly June) so expect to see this Average Sales Price increase throughout the year.

When many other neighborhoods were seeing sliding home values, this Atlanta neighborhood was seeing it’s values remain solid.

Suffice to say that if you don’t have to sell, don’t BUT if you are a seller in Virginia Highland (or anywhere in this Morningside Elementary School District) don’t listen too carefully to the doom and gloom about Atlanta’s real estate market.

For you home shoppers that want to view the 72 homes currently for sale:

Click here for all Virginia-Highlands Homes for Sale!!

We have experience and the most up-to-date data and statistics regarding the economics of Atlanta, Georgia real estate, so don’t hesitate to give us a call or shoot us an email if we can help you in any way.

Kelly & Aaron Allen
404-606-2219 Kelly
404-863-8680 Aaron
Keller Williams Realty Premier Atlanta
404-969-1600 office
www.KellySellsAtlanta.com

In this market, you need the absolute assurance that we’re on YOUR team.  Our team is committed to providing the absolute best service possible, no matter what the curcumstances are or become.  We want you to know that we care about our clients as much as we care about our reputation – after all, each go hand-in-hand and the most POWERFUL advertising one can receive is “word of mouth.”

This is how the Kelly Sells Atlanta Team’s “No Brainer” Variable Commission Structure works for you:

We will ALWAYS provide you with a tailored marketing plan for YOUR home as well as a comparative market analysis (CMA) which will show you what your competition is and what you need to do to stay “ahead ”of or “in” the market and not “on” the market.  (click for a FREE market valuation on your home) 

As 4th quarter 2008 statistics have shown us, a well priced home will sell for an average of 96% of list price and in 31 days, we can get you the best possible price for your home while mimizing the carrying costs of sitting on the market for months.  Stats also show us that if you require a price reduction, it will take you 2-3 times longer to sell your home than if you get it right the 1st time.  Powerful stuff.

We’ll always work to provide you with the highest level of service possible, but just know that if you’re not satisfied, you can cancel your listing at any time with no hassle from our team.

Here’s how our “No Brainer” Variable Commission Structure works for you & how you benefit from our system:

6%: this is what we charge if another agent is representing the Buyer for your home.  Our marketing fee is a flat 3% and the Buyer’s Agent will receive the other 3%.

4.5%: This is where it gets interesting…if we find your Buyer and there’s no other agent involved, we’re not going to charge you the full 6%.  We’ll cut that to 4.5%, but still remain your Full Service Realtor.  We’ll write the purchase agreement and handle the inspection negotiations, etc, all the way to closing.  However, you receive the benefit of saving that 1.5%.  Not bad…right?

3%: If you happen to find a Buyer while out cutting the lawn or maybe at a neighborhood hang-out, chatting it up about how your house is on the market and you’ve got your eye on that bigger, better, newer dream house in the best school district around…then we’ll write the purchase and sale agreement, coordinate inspections and carry the contract all the way to the closing table – just as we would in the other 2 scenarios above…

If you have any questions, please feel free to contact us anytime to see how The Kelly Sells Atlanta Team can help YOU sell your home.

>The KellySellsAtlanta.com Team
>Your Neighbors.  Your Real Estate Experts.

>> There are Lies, Damn Lies…then there are Statistics.

Here is what we’re seeing. If you’d like to skip the hard data, scroll to the bottom of this article where I’ve outlined what this means to a Buyer or a Seller right now….Further below you’ll find graphs and additional “case specific” data.

AND IF YOU’RE CURIOUS ABOUT THE “INTOWN” ATLANTA STATS, EMAIL US - WE HAVE THOSE AS WELL…

On to Metro Stats:

• 2008 home sales are down 22% compared to 2007 (but this is a slight increase from the final 3rd quarter numbers).
• 33,000 metro Atlanta homes sold in 2008
• The <$200k price range is down only -2.2%.  31.7% of Home Sales in this price range were Foreclosures
• The Median Sales Price is down 11.7% compared to year-end 2007, however, pockets of the metro Atlanta market are showing an increase while others are showing only a 2% decline.
• On average, 2008 Sellers got 92.5% of their asking price
• It took Sellers 84 Days, on average, to sell their home.  However, if the home was priced properly, it took only 27 days to sell!  It’s ALWAYS a Seller’s Market for a great house at a great price!!
• If you were a Seller and had to reduce your price in 2008, you were on the market 3x longer than if you’d have gotten the price right when 1st listed. 
• 8 out of 10 Listings in 2008 were over-priced.
• Supply reached a high at 10.8 months of supply in December, 2008 – but the Supply has been declining steadiliy since July 2008 and there is greater supply at higher price ranges (great news for move-up buyers!)

thanks for visiting KellySellsAtlanta.com – your metro and intown Atlanta Real Estate Resource…

The Kelly Sells Atlanta Team >> Your Neighbors.  Your Real Estate Experts.