Jackson Elementary District is located in the North Buckhead & the Chastain Park areas.  VERY desireable areas…

Jackson Elementary (along with Morris Brandon Elementary & Sarah Rawson Smith Elementary) feeds into Sutton Middle & North Atlanta High.

There are currently 216 homes for sale in the Jackson district, and the average list price is actually quite eye opening ($2,131,423) but if you take out the 146 homes that are over $1M, you still have over 50 homes under $1M to choose from, including our Listing at 361 Valley Brook, a renovated brick ranch on a partially finished basement with a HUGE flat lot & a great, popular neighborhood, walking distance to shops & restaurants on Roswell Rd & also Chastain Park & Chastain Ampitheater.  The home is listed at $435,000 – currently the 2nd lowest list price for a finished basement in the school district!

There are currently 13 under contract in the district and 50 have sold since 1/1/11 (for an average of just over $1M, which is heavily weighted by a few VERY high sales – so 33 of those 50 homes were under $1M).

Click here to learn more about Warren T. Jackson Elementary.

Click here for Homes For Sale in the Warren T. Jackson Elementary School District.

Get your kids into the TOP Public School District in Atlanta!   And we’re here to help.

The KellySellsAtlanta.com Team
Keller Williams Realty of Buckhead
www.KellySellsAtlanta.com

Home sales & median sales prices were down in the 4th quarter of 2010 vs. 3rd quarter, but they started climbing in December & have continued through Spring 2011.  The Ratio of Sales Prices to Original List Prices was UP in the 4th Quarter of 2010 compared to 4th Quarter 2009 by 2% and Days on Market (DOM) was down slightly from 123 to 120, which indicate that homes are entering the market at more competitive prices. The amount of homes for sale in the Atlanta area (i.e. Inventory) also began to trend downward after June 2010, so although the market may seem a little saturated with inventory, it’s mainly overpriced homes or distressed properties that need LOTS of work.  The good homes at good prices are still going super fast.

We’ve noticed that in the $300-$400k price range, there seems to be a boom of interest from Buyers.  We’ve had 4 sets of clients in Multiple Offer situations since February (3 with Buyers, 1 with a Seller – and my buyers won all 3!!) and ALL have been between $325-$375k in Virginia Highland, Grant Park and 2 in East Cobb (yes, we can cover some territory – we have lived in Buckhead, East Atlanta & East Cobb in the last 7 years).      The $300,000 to $500,000 price range has the lowest inventory count (12 months) of any other price range besides the <$200,000 range at 9.7 months of inventory (which accounts for approx 60% of the current home sales in this market).

And to touch a little more on that price range: in the $300-$500k range, median Days on Market was down to 158 in the 4th quarter of 2010 vs. 189 days in 4th quarter 2009 (-16%).  For all price ranges, if a home is overpriced, the median DOM is 181, but if priced correctly it’s ONLY 28 DOM!!  Meaning you have to act FAST to get the goods.

So, this may have been a little scattered, but what we tried to indicate is that although the market seems to be slow-go, it’s really picking up in certain price ranges.  The Prices have fallen enough to where Buyers are definiltey taking notice.  I mean, who would’ve thought you could get a nice 3 bedroom home on a basement in Virginia Highland for under $340k?  Who would’ve thought you could get a 5 bedroom 3 bath home on a finished basement in the Sope Creek Elementary, Dickerson Middle & Walton High School district in the mid-$300′s?  The time is right, the prices are more right than ever, and the rates continue to be ridiclously low (although they do like to bounce around a little).

If you’re thinking of buying a home – do it before the rates go back up.  Seriously, that’s the biggest factor.  The prices are so good, you can’t miss if you plan on being in the home for at least 5 years.  Get the best rate, because that will ultimately have a bigger effect on your monthly payment.

If you’re thinking of selling your home, give us a call & let’s do a Market Analysis to see how your home would fit into the market.  Inventory may be low for comparable homes in your area & price range & that may help you get the best price by getting in front of those buyers looking for a great home at a great price & a great mortgage interest rate vs. waiting on the spring/early-summer inventory to come on the market & increase your competition.  You could potentially get yourself into a multi-offer situation!! Wouldn’t that be nice?!

Click here to search Atlanta Homes for Sale just like an Agent can, OR here to get a FREE Market Valuation to find out “What’s My Home Worth?.”  If you want a more custom, real-time search that pulls directly from the MLS & will prompt you when homes that meet your wants & needs, email us at HomeTeam@KellySellsAtlanta.com & we’ll have it set up for you pronto. 

With gratitude,

The KellySellsAtlanta.com Team
#1 Team in Keller Williams of Buckhead since 2007

https://entp.hud.gov/idapp/html/f17condo-maint.cfm?key=A007241&phase=001&mode=Q

This means it will be a LOT easier for their Owners to refinance and take advantage of lower rates. Also – it means Buyers can more easily get financing!!  Without this approval, Buyers would need 10-20% down to finance a condo, and many condos in the metro Atlanta area are NOT FHA approved, mainly because the Condo Management/HOA hasn’t taken the proper steps to gain approval.  Up until mid-2010, condos could get “spot” approval, which made it pretty easy for FHA financing, but not anymore. 

Thanks to the property manager, Roel Puyat, and Treasurer, Richard Gilmore, for working so hard the last several months to get this approval!! 

Click here to see a list of Ovation condos for sale.

Click here to search for Buckhead condos for sale. (or any other property in the Metro Atlanta area, for that matter!)

When you’re ready to buy or sell, think of us – we’re here to help you succeed in this market!

The KellySellsAtlanta.com Team
Your 1 Stop Real Estate Shop!

Keller Williams Premier Atlanta
404-863-8680 cell | 404-969-1600 office

5258 Wyntercreek Dunwoody, GA 30338 | 5Bds 2.5Bths

Dunwoody traditional home in great swim/tennis community! Updated kitchen with granite and ss appliances. Great flooring-both wood and high end carpet. Fenced and flat yard with great screened in porch. Large finished basement and great storage. Unbeatable location! Walk to shops, school, nature center.

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

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

As always, we will pass along more information as we receive it!

Have a great day!

The Kelly Sells Atlanta Team
www.KellySellsAtlanta.com
…your next move is our business…

Status on the First Time Home Buyer Tax Credit Extension

Congress and the Senate have drafted an amendment to provide an extension to the now popular First Time Home Buyer Tax Credit. The extension amendment has not been passed yet. “The Senate has agreed on a compromise measure that would extend and expand the popular home buyer’s tax credit, “but it is not clear when or how it will be considered,” according to a key Capitol Hill source. That’s because its fate is connected to a battle over amendments to a more important bill providing additional unemployment benefits”.  Again, this is the current proposal and is not a Bank of America endorsement until the final bill is passed.

Following are the latest provisions of the proposed First Time Home Buyer Tax Credit Extension:

• The tax credit would be $8,000 for first-time home buyers and $6,500 for move-up buyers (from December 1, 2009 to April 30, 2010).

• Move-up buyers will be eligible, so long as the home they are leaving has been used as their principal residence for 5 years or more.

• The tax credit would run through April 30, 2010. However, there would be a binding contract rule that will permit those with contracts as of April 30th to qualify for the credit so long as they complete the transaction by the end of June, 2010.

• The income limits for both first-time home buyers and move-up buyers would be $125,000 for single return and $225,000 joint return.

• Cost of the home may not exceed $800,000 to be eligible.

• For purchases made in 2010, taxpayers would be able to claim the credit on their 2009 income tax return.

• Home buyers would not have to repay the credit, provided the home remains their principal residence for 36 months after the purchase date.

• The amendment includes a military waiver provision, meaning the recapture provision would not apply in the case of a member of the Armed Forces, military intelligence or Foreign Service who is on qualified official extended duty. In addition, members of the military who have been deployed overseas for 90 days or more in 2008 or 2009 would have until April 30, 2011, to claim the home buyer tax credit.

• The amendment also includes anti-fraud language that provides math authority to the IRS to do greater oversight during the processing of the return rather than waiting for an audit situation. The amendment requires the taxpayer claiming the credit to be 18 or older as well as requiring a HUD-1 settlement statement to be attached when claiming the credit.

(info above provided by Bank of America Lenders)

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.

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.

Agents & banks are beginning to get the picture & pricing smarter.  The Original List Price vs Sales Price gap is becoming smaller, but the Foreclosure gap is actually larger than the non-foreclosure gap…meaning that the foreclosures aren’t priced as well as the conventional listings in relation to actual value & condition (i.e. perceived value).

Price & Presentation – those are the keys to success in this market.  It’s a pricing war & a beauty pageant.  You’ve got to be the best looking gal at the prom & the cheapest date.  I don’t know of a better way to say it…well, possibly, but this is the best way to get the visual. 

A seller in this market has really 3 choices…and these aren’t the 3 R’s you’re used to hearing:
Remain, Rent or Reduce – the 4th choice isn’t the one they’re hoping for…

Still, the right agent w/ the right data can get it right for you!  This is not a doom & gloom market – this is an opportunistic market – and if you’re a seller, that goes for you too!  This is a perfect time to move up, or move into that perfect school district, or for the baby-boomers to downsize into a fantastic deal on a loft or a townhome or condo in town.  If you feel that you’d be taking a loss on the sale of your home, think of the deal you’re getting on the next purchase – opportunities are everywhere…you’re seeing them, you just need to look at it that way. 

I’ll chime back in tomorrow or Friday to show you how pricing your home aggressively from day 1 will actually make you money rather than COST you MUCH MORE $ by pricing a little high & hoping for an offer you can work with…

come back & see us,

The Kelly Sells Atlanta Team
Your Neighbors | Your Real Estate Experts
www.KellySellsAtlanta.com > go to Property Search to search for ALL homes in the metro Atlanta area