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ALL REAL ESTATE TRENDS POINT UP! WHAT ATLANTA, GA CAN EXPECT in 2013

2012, with it's positive upswing, looks to be the turning point that we in the Real Estate industry were all waiting for. According to the Real Estate trending reports continuing to flood our industry, the momentum IS expected to continue in 2013.  What does this mean for you?

As an Atlanta Buyer you can expect to see:

1.  Prices increasing. Prices have been "rock-bottom" low for several years now but as the market begins to recoup home prices will increase to a more stable and accurate value.

2.  Interest Rates will increase.  In an effort to recover this hard-hit housing market, rates have been lower than they have ever been in history.  However as sales improve, rates are expected to see a slow increase over the next year.

3.  Inventory will be tighter.  With the increase in sales due to buyers suddenly becoming afraid the deals will soon be gone, inventory will become a more scarce. 

4.  Multiple-offer competing.  As a result of low inventory, buyers can expect to "compete" with other buyers, often finding themselves in multiple offer situations with other buyers. Consult your Realtor representing you on what will be a good offer, you may only get one shot.

As an Atlanta Seller you can expect to see:

1.  Prices Increasing!  Good news for you, while your value still may not be exactly where you would like to see it, you will see the gap begin to close.  Some sellers will finally be back in the GREEN this year.  Contact a Realtor to get an updated CMA to know your current market value.

2.  Inventory is low, so if you have the old favorite "location, location, location,"  you will need to begin packing the minute the sign goes up in the yard.  Homes are not lasing long in this fast paced market.  

3.  Multiple offers.  Location and pricing can cause you to have to "choose" a buyer.  Each offer will be different and have it's array of pros and cons, so you will have to decide offer by offer what is the best decision for you.

Here's to a positive 2013 Real Estate Market in Atlanta!!  I couldn't be more excited to see the improvements!  Atlanta Buyers and Sellers if you need Real Estate advice or help this year I would love the opportunity to work with you!

 

Written by:

Amie Bozeman, Atlanta Real Estate Pro

Email: amie@amiebozeman.com

Website: http://amiebozeman.com

Direct: 770-855-5590

 

1st STEP TO BUYING A HOME: GET PRE-QUALIFIED!

So many times I am asked the question, "What do I do to get started in the Home-buying Process?"  The answer is simple, if you do not have cash on hand for a home purchase the first step in the process is to obtain your loan approval.  If you do not already have a Lender in mind, your Realtor will be able to provide to you a list of suggested lenders that can help you.  

Your Pre-qualification will provide for you:

1.  Peace of mind, "Property Virgins" often wonder if they could obtain a mortgage loan.  Your pre-qualification lender will inform you of your loan ability after a brief financial evaluation.  

2.  Your approval amount.  You will not have to guess how much you can spend, once you are pre-qualified, you will know how much you can spend!

3.  Your estimated payment amount.  Once your lender knows what amount you qualify for they can give you a real close estimate as to what your monthly mortgage payment will be.

4.  Your comfort zone, just because you can spend a certain amount doesn't necessarily mean you will want to spend that amount.  Your estimated monthly payment will help you decide what you are comfortable in spending.

5.  Entrance to preview homes, Realtors in most cases are not willing to show homes to an unqualified buyer. Obtaining a pre-qualification letter from your lender will be the necessary documentation Realtors will ask you to supply to them when determining if you are a 'qualified buyer."

**Tip: If you have a troubled credit record, do not worry about sharing your information with a lender, mortgage professionals can advise you on credit improvements.  Need more help or advice?  Visit me at www.amiebozeman.com or contact me at amie.bozeman@metrobrokers.com.

Happy Buying, 

Amie Bozeman, Atlanta Real Estate Pro

Email: amie@amiebozeman.com

Website: http://amiebozeman.com

Direct: 770-855-5590

 

Spring, A Terrific time to Sell Your Home!

While summertime home sales actually peek the market, spring is a great time as well!!  Here are some reasons buyers begin their search just as the warm weather hits:

1.  People have been locked inside with the cold temps therefore the nicer weather stirs people to get out and about.  This results in higher traffic at open houses, and open houses are always a great opportunity to present your home to home potential buyers starting a new search.

2.  Flowers are in bloom, that's right curb appeal. Beautiful, colorful landscapes can catch a buyer's attention and peak their curiosity about the homes that are for sale.

3. Buyers try to prepare for the summer buying season.  Summertime has the top selling months, but buyers are often out seeing whats on the market so that when summer arrives they are ready to make their move. The good news is that if your home shows well and they fall in love with it, they will often buy early so that they don't miss out on "their" favorite home.

4.  The in-between school year moves.  Summer host the largest moves because parents are trying to get the kids in and settled before the next school year starts.  The concern that gets them out searching in the springtime is 'what if we don't find a home during the summer months.'  Again if they love your home they just may buy early so that they don't miss out!

5.  Spring in general is a hopeful time, things are new and fresh the suns out and the air is light. This prompts people to make changes and sometimes those changes are moving to a new place.  

Thinking of selling your home or buying a home this spring in or around the Atlanta, GA area?  I would enjoy helping you, contact me so we can get started. 

Written by:

Amie Bozeman, Atlanta Real Estate Pro

Email: amie@amiebozeman.com

Website: http://amiebozeman.com

Direct: 770-855-5590

 

TAX RETURNS ARE PERFECT FOR DOWNPAYMENTS!

Tis the season for tax returns, and what a perfect time to buy!! Spring is the beginning of Real Estate sale season and with rates still low and the market full of great homes for sale I suggest using that tax return for a nice down payment on your dream home. 

The down-payment amount on an FHA loan is 3.5%.  So for example, if you would like to purchase a home priced at $150,000, the down-payment amount that you will need for this home will be $5250.00.  Most sellers will help with some or all of your closing costs needed to close a loan therefore your down-payment amount plus a few other fees will be all you would need to close on a home priced at this amount.

Contact a Realtor to get started looking at homes in your price range.  Then put that tax refund to good use and become a home-owner in 2012!!

Amie Bozeman, Atlanta Real Estate Pro

Email: amie@amiebozeman.com

Website: http://amiebozeman.com

Direct: 770-855-5590

FACT: Most Foreclosures need a Make-Over!!

Many times over this past year I have had buyers say to me that they want to find a good deal on a local foreclosure. However, upon making the request, most don’t realize that they are actually requesting a project.  That’s right, a project! Most foreclosures need minimal to major cosmetic and defective repair work to be done prior to move-in.

I have previewed and showed many foreclosed homes. In the majority of these homes at least one or more items that weren’t permanently attached such as light fixtures, appliances, doors, and carpets were removed from the home. Most of the time if the carpet is still left in place it will be severely stained and in need of replacement.  The walls are often in need of fresh coat of paint, shelving sometimes needs to be replaced in the closets and pantry areas, and of course the landscaping many times is the resemblance of a mini-jungle. On a more serious note; structure items such as the foundation or roof may be damaged and need to be repaired or replaced.

In keeping all of these things in mind, it is true that you can find a good deal on a foreclosure.  Often these homes are priced at a 10-30% discount in price and can be negotiated down further in some cases.  However, be sure you know the facts before beginning your search.  Often you will need an extra $5-20k on hand just to make the property livable after you purchase the home. If you do not have these extra funds to make the repairs after closing, a new or resale home may be the best for you because often they require little or no extras, remodeling, or repairs to make them livable.

Amie Bozeman, Atlanta Real Estate Pro

Email: amie@amiebozeman.com

Website: http://amiebozeman.com

Direct: 770-855-5590