Ask Whitney Barnes!

As homeowners, we all know that spring is a great time to do some deep cleaning, work in the yard, and enjoy the warmer temperatures, but what needs to be done to our homes to keep it in good working order?   Here are a few tips that all homeowners should schedule for this spring.

1.           Test smoke detectors on each floor to make sure they are in working order.   It may be time for new batteries.

2.           Check electrical outlets for fire hazards such as frayed wires or overloads.

3.           Keep a fire extinguisher filled, accessible, and ready for operation.

4.           Have your air conditioning system serviced.

5.           Check for roof damage and clean downspouts and gutters.

6.           Check water heaters for leaks and corrosion.

7.           Clean or replace your furnace filter.

8.           Clean the clothes dryer exhaust duct and space under the dryer.   Remove all lint and dust.

9.           Remove dead trees or trim foliage away from house and utility lines.

10.   Repair cracked or broken decks, patios, driveways, or walkways.

Just by doing a few regularly scheduled maintenance items to your home every spring, you can prevent costly repairs that can surface.

Home | Houses | Real Estate Sale – Canton, Marietta, Roswell, Woodstock, East Cobb, Cherokee County

As a buyer of a home, it™s very important that you negotiate a due diligence time period with the seller.   This will give you an opportunity to thoroughly review the home you are buying.   You will want to conduct inspections of the property during this time, including checking whether the home is in a flood plain.   This is very important since FEMA has been updating the flood plain maps because of recent flooding.   Checking to make sure your home isn™t in a flood plain can save you hundreds or even thousands of dollars.   Of course, even if the home you are purchasing happens to be in a flood plain, there are ways to reduce the costs that you incur.

During your due diligence period, you will want to go to FEMA™s website and pull up a flood plain map of the home or property you are planning to purchase.   You can go to http://msc.fema.gov and type in the address of the property to pull up the map.   This is your responsibility as a buyer.   If the seller is aware the property is in a flood plain, they should disclose this information on the seller™s disclosure form.  Because FEMA has been recently updating their maps, the seller may not be aware the property has been placed in a flood plain.    Just by doing this simple check, you can protect your earnest money or prepare yourself for the additional insurance cost that is required by your lender if your home is in a flood plain.

If you find that the home you are purchasing is in a flood plain, you have several options.   You will want to contact your insurance provider to find out how much your annual premium will increase.   Depending on the risk, your annual home owner™s premium could increase from a couple of hundred dollars a year to the thousands.     You can also request to have a flood elevation certificate issued on the property to try and reduce your premiums.   To complete an elevation certificate, a surveyor would come out to your property and submit a report determining your risk.   The FEMA maps could contain mistakes and this elevation certificate would help provide proof to your insurance company that the house you are purchasing is not as high risk as the map portrays.    If you decide that you do not want to purchase a property that is located in a flood plain, make sure to do check on this before your due diligence period expires.   As long as you terminate your contract before the due diligence period expires, you will be able to get your earnest money back.

Home | Houses | Real Estate Sale – Canton, Marietta, Roswell, Woodstock, East Cobb, Cherokee County  

Many homeowners have kept a close watch on the economy this year, especially news about home values and sales.   Many of us heard in 2010 prices on homes in Metro Atlanta continued to drop and are expected to continue that decline into 2011, but what happened to home values in North Fulton County?    Should we expect our home values to stabilize or decline in 2011?   To predict what may happen in North Fulton in 2011, we need to look at what happened in 2010 to single-family detached homes.

In the western part of North Fulton (bordered by the county line to the north and west, to the east by Georgia 400 and to the south by the Chattahoochee River) in 2010, we saw 2,681 homes put on the market.   Out of those 2,681 homes, 824 sold.   The average list price of these homes was $501,203, but the average sales price was $382,064.   On average, homes sold for about 76% of their listed price and were on the market an average of 96 days.  

In the eastern portion of North Fulton (bordered on the north and east by the county line, west by the Georgia 400, and to the south by the Chattahoochee River), 3,193 homes were put on the market in 2010, but only 1,002 homes sold.   The average list price of these homes was $423,874 and the average sales price was $362,723.   On average, homes sold for 86% of their listed price and were on the market an average of 90 days.  

Overall, North Fulton County had 5,820 homes put up for sale in 2010 and only 1,826 sold.   So, about 31% of the homes listed for sale sold in North Fulton during 2010.   Foreclosures and short sales, which account for over 30% of all homes sales in metro Atlanta, accounted for many of the home sales in North Fulton and continued to push down prices.     Only homes that were in top condition and the most reasonably priced were able to sell during 2010.   Home sales peaked during the spring and summer months due to the expiring tax credits and families trying to transition during the school year break.

So, what should we expect in 2011?   Most experts believe that prices will continue to decline throughout 2011 because of the large number of foreclosures expected to come on the market.   Many homeowners are strategically choosing to walk away from their homes because their homes are worth less than the mortgage balance.   Unfortunately, with homeowners choosing to walk away and adding to the existing foreclosure inventory, we can only expect prices to continue to decline.

Source:   First Multiple Listing Service  

Home | Houses | Real Estate Sale – Canton, Marietta, Roswell, Woodstock, East Cobb, Cherokee County

Many homeowners have kept a close watch on the economy this year, especially news about home values and sales.   Many of us heard in 2010 prices on homes in Metro Atlanta continued to drop and are expected to continue that decline into 2011, but what happened to home values in East Cobb County?    Should we expect our home values to stabilize or decline in 2011?   To predict what may happen in East Cobb County in 2011, we need to look at what happened in 2010 to single-family detached homes.

In the northern part of East Cobb County (bordered by the county line to the north, to the west by I-75 & I-575 and to the south by Sandy Plains Road) in 2010, we saw 1,494 homes put on the market.   Out of those 1,494 homes, 467 sold.   The average list price of these homes was $249,427, but the average sales price was $234,003.   On average, homes sold for nearly 94% of their listed price and were on the market an average of 71 days.  

In the middle portion of East Cobb County (bordered on the north by Sandy Plains Road, to the west by I-75, east by the county line, and to the south by Roswell Road), 1,793 homes were put on the market in 2010, but only 556 homes sold.   The average list price of these homes was $332,460 and the average sales price was $301,096.   On average, homes sold for 90% of their listed price and were on the market an average of 82 days.  

In the southern part of East Cobb County (bordered on the north by Roswell Road, to the west by I-75, and to the south and east by the county line), 1,388 homes were listed during 2010 with 419 of those selling.   The average list price of the homes put on the market during 2010 was $464,385 and the average sold price was $385,876.   These homes sold on average for 83% of their listed price and were on the market for 88 days.  

Overall, East Cobb County had 4,675 homes put up for sale in 2010 and only 1,442 sold.   So, about 31% of the homes listed for sale sold in East Cobb during 2010.   Foreclosures and short sales, which account for nearly 30% of all homes sales in metro Atlanta, accounted for many of the home sales in East Cobb and continued to push down prices.     Only homes that were in top condition and the most reasonably priced were able to sell during 2010.   Home sales peaked during the spring and summer months due to the expiring tax credits and families trying to transition during the school year break.

So, what should we expect in 2011?   Most experts believe that prices will continue to decline throughout 2011 because of the large number of foreclosures expected to come on the market.   Many homeowners are strategically choosing to walk away from their homes because their homes are worth less than the mortgage balance.   Unfortunately, with homeowners choosing to walk away and adding to the existing foreclosure inventory, we can only expect prices to continue to decline.Source:  

First Multiple Listing Service

Home | Houses | Real Estate Sale – Canton, Marietta, Roswell, Woodstock, East Cobb, Cherokee County

Many homeowners have kept a close watch on the economy this year, especially news about home values and sales.   Many of us heard in 2010 prices on homes in Metro Atlanta continued to drop and are expected to continue that decline into 2011, but what happened to home values in Cherokee County?    Should we expect our home values to stabilize or decline in 2011?   To predict what may happen in Cherokee County in 2011, we need to look at what happened in 2010 to single-family detached homes.

In Northwest Cherokee County (north of Highway 20 and west of I-575) in 2010, we saw 839 homes put on the market.   Out of those 839 homes, 240 sold.   The average list price of these homes was $255,809, but the average sales price was $198,624.   On average, homes sold for 78% of their listed price and were on the market an average of 113 days.   In Southwest Cherokee County (south of Highway 20 and west of I-575), 2,278 homes were put on the market in 2010, but only 692 homes sold.   The average list price of these homes was $222,216 and the average sales price was $186,601.   On average, homes sold for 84% of their listed price and were on the market an average of 78 days.  

In Southeast Cherokee County (south of Highway 20 and east of I-575), 2,583 homes were listed during 2010 with 732 of those selling.   The average list price of the homes put on the market during 2010 was $273,086 and the average sold price was $217,775.   These homes sold on average for 80% of their listed price and were on the market for 97 days.  

In Northeast Cherokee County (north of Highway 20 and east of I-575), 430 homes were put on the market, but only 104 sold.   The average list price of these homes was the highest in Cherokee County at $295,008 and the average sold price of $237,267.   On average, homes sold for 80% of their listed price and were on the market an average of 91 days.

Overall, Cherokee County had 6,130 homes put up for sale in 2010 and only 1,768 sold.   So, 29% of the homes listed for sale sold in Cherokee County during 2010.   Foreclosures and short sales, which account for nearly 30% of all homes sales in metro Atlanta, accounted for many of the home sales in Cherokee County and continued to push down prices.     Home sales peaked in March and April throughout Cherokee mostly due to the expiring tax credits.    

So, what should we expect in 2011?   Most experts believe that prices will continue to decline throughout 2011 because of the large number of foreclosures expected to come on the market.   Many homeowners are strategically choosing to walk away from their homes because of negative equity.  Unfortunately, with homeowners choosing to walk away and adding to the existing foreclosure inventory, we can only expect prices to continue to decline.

Source:   First Multiple Listing Service

Home | Houses | Real Estate Sale – Canton, Marietta, Roswell, Woodstock, East Cobb, Cherokee County

With the continued influx of foreclosed properties in the Atlanta real estate market, buyers can find great deals and pay thousands of dollars below the appraised home value.   Luckily, foreclosures are not the only hot deals out there today.   According to the Mortgage Bankers Association, when a bank takes back ownership of the house through the foreclosure process, the bank will end up losing around $35,000 by the time they get the house sold.   Because of the cost the bank sustains from going through the foreclosure process, more banks are beginning to take a look at the short sale option.  

A short sale is when the bank accepts a discounted payoff on a home loan because a borrower or seller is facing foreclosure.   A few reasons a borrower could be facing foreclosure are recent job loss, divorce, health issues, etc.   The borrower has to prove that they have a financial hardship and can no longer make their loan payments.   Here is simplified version of how the short sale process works:

1. The owner of a home facing foreclosure attempts to sell their home, but is now aware that they owe more than the property will sell for.   The owner contacts the bank to ask for assistance.   The lender will require documentation to prove that the borrower is actually in a œhardship situation and is in danger of foreclosure.
2. The lender contacts an independent appraiser or broker to assess the home™s value in today™s market.   This allows the lender to understand how much they would be willing to sell the home for if they have to foreclose on the property.
3. Once the bank approves the short sale, the home is marketed by a real estate agent, at a reduced price to attract buyers to make an offer.   At this point, the owner of the home has agreed to receive nothing for the sale of the house in exchange for having no financial liability.
4. A prospective buyer makes a formal offer on the property.   The offer is typically way below the current balance on the home™s existing loan.
5. The lender™s loss mitigation department processes the requested short sale and attempts to close on the sale before the lender™s collection department gets the foreclosure sale completed.   At this point in the short sale process is when most of the frustration begins.   It can take anywhere from 7 to 60 days before the bank responds to the prospective buyer™s offer, and if the property is foreclosed on during that period, the buyer must start the home search process over again.
6. The lender will try to determine how much of a loss is likely if they have to take the house back and compare it to the offer on the table from the prospective buyer.   The lender™s main goal is to lose as little money as possible, so they will likely counter the offer on the table to get additional funds to pay off the existing loan.
7. If the lender accepts the borrower™s hardship explanation, then a deal is struck and the buyer™s offer is negotiated and accepted.   Approval to close is given and the buyer usually gets a great deal on the house.   Unfortunately, this entire process can take up to 6 months to complete and success is not guaranteed.

So, if you have up to 6 months before you need to move, have the patience to wait weeks on responses from the bank, and to keep emotions out of the purchase since the short sale is not guaranteed and the property could foreclose, then you have the stomach for short sales!   As a buyer you can get a bargain on the home of your dreams and the seller can get out of the financial responsibility of the home, but be aware of the potential issues.

Want to receive a FREE daily e-mail message of the newest short sales and foreclosures that meet your home search criteria?   Click the link below to sign up!

Home | Houses | Real Estate Sale – Canton, Marietta, Roswell, Woodstock, East Cobb, Cherokee County

First time home buyers are making up the bulk of home sales activity this year because of the incredible deals and low mortgage interest rates.   It is a great time to buy!   A recent survey by the National Association of Realtors reported that 41% of buyers in 2008 were first time home buyers and that 76% of home buyers purchased their home through a real estate agent.   Whether you decide to use a real estate agent to represent you or not, it is important to understand the home buying process and the costs you will incur to make the process smooth and painless.  

1. Pre-Approval:   Contact a mortgage lender or broker and get pre-approved for a loan.   In this shifting market, it has never been more important to speak with a lender before searching for a home.   This will allow you to understand financing options and requirements, and keep you from being disappointed if you find out you are looking at homes out of your price range.   You will also need to ask for a pre-approval letter from the lender to keep in your files.   For a list of professional and accommodating mortgage brokers, please visit my website at www.jeanetteandwhitney.com.
2. Wants & Needs:   Decide what features are important to you in your future home.   Make a list of features that are non-negotiable and others that are ideal, but are not a requirement.   This could include the number of bedrooms, style of kitchen, lot size, and location.   This will allow you to understand your needs and narrow your search down to minimize the time you spend looking.
3. Home Search:   Contact a real estate agent to set you up on a daily email system where you will only receive listings that meet your specific criteria or use online search engines such as Realtor.com, AJChomefinder.com, trulia.com, and many others to look for homes.   Schedule showings on homes that you find appealing.   If using an agent, they will do this for you!
4. Offer & Negotiations:   Once you find a home that you love, it is time to make an offer.   Remember that you will need to put down earnest money in order to show the seller that you are truly interested in the property and make the contract binding.   The earnest money amount varies, but is typically around 0.5% to 1% of the purchase price.   So, for a $150,000 home, you could put down anywhere from $750 to $1,500 as earnest money.   Then it is time to negotiate the contract including purchase price, seller™s contribution towards closing costs, closing date, due diligence period, special stipulations, financing and appraisal contingencies, and other negotiable factors.   An agent can help you to navigate through the purchase agreement and look out for your best interests.
5. Inspections:   Once the contract is binding, you will want to have an inspection done on the property to inform you of any potential issues with the home.   If you decide to purchase a foreclosure or short sale, these homes are typically sold œas-is, which means that the bank or seller is typically not going to make repairs, but you still have the right to the inspection.     You should use a certified home inspector and this will cost you around $300-400.   You may also want to consider having other types of inspections done as well, such as radon testing, termite inspection, survey, septic tank, and well inspections.   Any inspection you perform will be upfront out of pocket expenses for the buyer.   Once the inspection report is completed, you will want to negotiate items that you want repaired before closing.   Once all parties agree, you now move towards closing.  
6. Closing:   You will want to set up the closing with a closing attorney.  The attorney will run the title search to find out if there are any liens or restrictions on the property so there are no surprises at the closing table.   The closing attorney and the lender will need a complete copy of the contract.   You will want to constantly stay in touch with your lender and closing attorney and promptly provide any documentation they request.   The lender and closing attorney charge fees that you will need to pay at closing, but you can negotiate with the seller to pick up some of these costs.   Once closing is complete, you are now officially a homeowner!     Congratulations!

Want to receive a FREE daily e-mail message of the newest listings that meet your home search criteria?   Click the link below to sign up!

Home | Houses | Real Estate Sale – Canton, Marietta, Roswell, Woodstock, East Cobb, Cherokee County

As buyers, we want it all!   We want the perfect house with a great lot and it must be located within a fabulous community for a great price!   In this market, many immaculate homes are available that meet this criteria, but how do you narrow down the choices?   How do you know that you will love the neighborhood as much as the house?

If you are looking for homes in the Towne Lake area of Woodstock, you are going to want to visit Eagle Watch subdivision.   Eagle Watch, located off of Towne Lake Parkway, is a beautiful community planned by Arvida back in the late 1980s and early 1990s.   Arvida is known for their exceptional ability to plan large communities. The subdivision consists of nearly 1,300 homes.   Multiple builders constructed the homes allowing each of the homes to have their own unique characteristics.   Few homes in the subdivision look just alike and have the same floor plan.   The lots in the neighborhood are larger than lots in most new subdivisions. Many of those lots back up to Corp. of Engineers property, woods, or the golf course.   Homes are available to meet any buyers™ needs.   Many have been updated, but if you are a buyer who enjoys renovating and updating homes, then there are plenty available for you as well.   Currently, 50 homes are available for sale with prices ranging from $169,900 for a 3 bedroom, 3 bath home to $640,000 for a 6 bedroom, 5.5 bath home.          

In addition to the pristine homes, Eagle Watch is full of amenities and activities.   The focal point of the community is the Arnold Palmer-designed golf course. This course is a private course owned and managed by Canongate Golf. There’s an inviting clubhouse with a golf shop and dining facilities.   Eagle Watch is also a swim/tennis community.   There are two family size pools and one adult lap pool.   Organized swimming activities are available for both children and adults.   Fourteen tennis courts are available for recreational use or organized tennis activities.   In addition to swim and tennis, Eagle Watch is home to 2 playgrounds, basketball courts, a weight room, and planned activities year round.

Once you experience the community at Eagle Watch, you won™t want to live anywhere else.   It is not uncommon for families to upsize or downsize to another home in the neighborhood.   Doesn™t this sound like a place you might want to live?Looking for a home in Eagle Watch?   Contact me today to receive a list of properties that meet your needs.

Home | Houses | Real Estate Sale – Canton, Marietta, Roswell, Woodstock, East Cobb, Cherokee County

Since home prices are dropping and mortgage rates are low, it is a great time to buy your first home, but you do not have to go it alone!   With short sales and foreclosures becoming more common, you want a savvy real estate agent who can help you navigate the waters.   So, why should you use a real estate agent?

1. IT COSTS YOU NOTHING!   As a buyer, you are at a great advantage because you can have a professional real estate agent help you navigate the ins and outs of finding, buying, and closing on your new home and you pay them nothing!   You heard right!   You pay the agent nothing!   The seller pays the agent a commission when the home closes and this commission is either paid to the listing agent if the buyer is not represented or split between the listing and buyer™s agent.   For example, if a seller is going to pay 6% commission, she will pay a total 6% commission and that number won™t change with or without a buyer™s agent.   The split of the commission is all that changes.   So if you do not have an agent representing you, then the full commission goes to the listing agent.   Why would you not want someone working hard for you that you don™t have to pay?  
2. An agent typically has a network of preferred vendors that will help your home buying transaction run smoothly.   Agents can help you obtain financing by introducing you to a mortgage lender and keep the transaction running smoothly by constantly staying in contact with the lender to make sure you reach the closing table with no surprises.   In addition to a mortgage lender, you will need the expertise of other certified professionals through the home buying process including attorneys, inspectors, insurance providers, and others.   Agents will have a network of professionals for you to choose from that do quality work at a reasonable price.
3. An agent has access to all properties available for sale with no lag times.   When a buyer does a search online, there is typically a lag between when the home was entered into the multiple listing services and when it shows up online.   A house could be under contract by the time you find it online.   This could cost you a sale, especially if you are going after distressed sales that are in mint condition and highly sought after.   A real estate agent has access to the listing information as soon as it is entered into the system and can be immediately emailed to the buyer.
4. In addition, hiring a real estate agent reduces the amount of stress and frustration that buying a home can cause.   Because of their expertise, they can help you during complicated transactions such as short sales or foreclosures by walking you through the steps and by telling you what to expect.   They also will negotiate on your behalf and make sure that you get the best deal for the property by pulling comparable sales and advising you on your offer.

Want advice on how to pick a good agent?   Contact me today to receive a list of qualities you want to look for in an agent.

For a list of distressed sales with pictures within your specific price range and area, call 1-800-951-5093 ID #1042 for a free recorded message or click on the link below to search for homes that meet your needs.

Home | Houses | Real Estate Sale – Canton, Marietta, Roswell, Woodstock, East Cobb, Cherokee County

Our federal government has been working diligently since President Obama took office to try and stimulate our economy.   One of the largest contributions his administration has made to help stabilize the housing market is to offer a $8,000 tax credit to buyers, but many buyers are still on the fence about purchasing a home and are not taking advantage of this incredible opportunity.   Time is running out.   The tax credit is only good through the end of November 2009, so why are more buyers not acting?Several requirements must be satisfied to be able to claim the $8,000 tax credit on your 2008 or 2009 tax return.   Below is a breakdown of the requirements:

1. The tax credit is not for just œfirst time buyers.   If you have not owned a home in the past 3 years, you are also eligible.
2. The home purchase must be made between January 1, 2009 to November 30, 2009.   Only 8 months left!
3. The purchaser must live in the home for 3 years; otherwise, they will be responsible for paying the credit back.
4. You must make less than $75,000 as a single or $150,000 as a couple to receive the full credit.   Higher income purchasers can receive a partial credit.

The actual credit amount will be either $8,000 or 10% of the home™s value, whichever is less.   This means that if you were expecting to get a refund of $1,000 on your taxes, but you purchased a home in 2009, you would receive a refund from the federal government of $9,000!!   So, what are you waiting for?For a list of affordable homes with pictures within your specific price range and area, call 1-800-951-5093 ID #1040 for a free recorded message or click on the link below to search for homes that meet your needs.

Home | Houses | Real Estate Sale – Canton, Marietta, Roswell, Woodstock, East Cobb, Cherokee County