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Real Estate Report October Special Section
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Sponsored Section • real estate report October 2014
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News and advertising for new homes, realtors, developers, commercial properties and more.
Fall home checklist By: Jennifer Pino Atlanta Fine Homes Sotheby’s International Realty As cooler days and nights approach, it is the perfect time to prepare you home for winter. These simple steps, many which you can do yourself, can reduce utility costs and protect your largest investment – your home. Get an HVAC tune-up. For under $100, a technician can inspect and service your heat pump or furnace to ensure that it maintains the highest level of efficiency in the coming months. It also helps to keep you from making that service call on the coldest day of the year along with everyone else. Program your thermostat. According to EnergyStar, you will save $180 annually on heating costs if you set the thermostat in winter to no higher than 70 degrees Fahrenheit when you are awake and not more than 62 degrees when you are asleep or away. Trim landscaping. Cut back plantings at least one foot from exterior walls, and cut back tree limbs growing within five feet from the house. This will create better ventilation, reducing moisture, decay and damage. It can also keep critters away from
Pino
the house and roofline when they are looking for a warm escape from the cold weather. Turn off exterior faucets. When water freezes, it expands, which can cause pipes to burst. Turn off the shut-off valve inside your home. Disconnect all garden hoses and drain the remaining water in the
faucets. Caulk around doors and windows. Make sure to reapply exterior caulk if the existing caulk has cracked and left a gap bigger than the edge of a nickel. Check weather stripping around doors and make sure you cannot see daylight from inside the home. Clean your gutters. If gutters are filled with debris, water can back up next to the house and damage roofing, siding and wood trim. Make sure that downspouts are diverting water at least three to four feet away from the foundation. For any of your real estate needs, please contact Jennifer Pino at Atlanta Fine Homes Sotheby’s International Realty, 305-3106114, jenniferpino@atlantafinehomes.com.
rtfully uniting extraordinary homes with extraordinary lives. UNDER CONTRACT
UNDER CONTRACT
Milton 125 Oakhurst Leaf Drive
Alpharetta 12890 Meridian Crossing
UNDER CONTRACT
Jennifer Pino 305.310.6114 jenniferpino@atlantafinehomes.com
Alpharetta 905 Waters Reach Court
Milton 771 Brookshade Parkway
marketing for homes in all price ranges.
Helping my clients achieve their real estate goals is my passion. I start by identifying my client’s needs, then meeting them with a professional, courteous and caring attitude. Providing an excellent experience and exceeding the client’s expectations is my goal for every transaction. If you are considering buying or selling a home, please allow me to show you how my unique methods, expertise and skills bring results.
AtlantaFineHomes.com 770.442.7300
I am never too busy for your referrals ~ Jennifer Pino
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October 2014
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Why a pre-approval is essential to your home search By: Bill Rawlings Vice President/Managing Broker Atlanta Fine Homes Sotheby’s International Realty Some people think preapproval means limiting possibilities, but the reality is that if you do not earn a loan pre-approval before you start looking, you might actually prevent yourself from finding your dream home. Here’s why. Streamlined Hunting Most start their home search by browsing homes for sale to get an idea of what neighborhoods and housing styles they like. If you do not know what you can afford, you may be looking out of your price range and wasting your time. You may also be looking below what you would have qualified for and not getting the right home for you. If you start with getting a pre-approval, you can sort by price, identify the right neighborhoods and find your dream home much faster. Better Results from a REALTOR® When a REALTOR® knows what you want and what you can afford, they are able to do a better job finding your dream home. Rather than performing a general search across several price ranges, if you have preapproval, a REALTOR® would know exactly what to focus on and would be able to suggest different neighborhoods, sizes and conditions of homes to match your needs — making it easier to get you exactly what you want. Higher Acceptance Rate If you are not pre-approved and you find a home you want to make an offer on, you are taking a gamble. REALTORS® and sellers are less willing to accept offers from a
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buyer without a pre-approval. Odds are, they will go on to the next offer — and you could miss out. If you are pre-approved, you have more room to haggle. Sellers may be more willing to lower the asking price, include appliances, cover closing costs or make other allowances to work with a pre-approved buyer. Less Stress Finally, skipping this step can cause you additional, unnecessary stress. If you are not pre-approved, you will spend longer looking for homes. You
may not feel like you are getting great service from a REALTOR®. You may get turned down once you are ready to make an offer. Rawlings When you know you are a qualified buyer, you know there are lenders willing to work with you, and you can feel confident when you make an offer.
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Sponsored Section • real estate report October 2014
August home sales: national and local By: Robert Strader Keller Williams Realty The National Association of Realtors (NAR) reported that existing home sales fell across the country by 5.3 percent in August versus one year ago. That number is greater than the drop in sales we saw in North Fulton but very different from sales figures in Forsyth County. Oddly, the NAR attributes this to investors pulling back because of fewer cash sales. I say oddly because their data comes from a small number of realtors surveyed around the county. The national media outlets have picked up this story but it's not the case here in our area. Looking at North Fulton and Forsyth County, August home sales year-over-year are down 2.9 percent in North Fulton but actually up 1 percent in Forsyth County. Additionally, the median sales price for existing homes dropped 5.2 percent nationally but rose 4.7 percent in North Fulton and 11.7 percent in Forsyth County. Finally, cash sales in August were up over
20 percent in North Fulton and while cash sales in Forsyth were down 7 percent, keep in mind that sales overall were up 1 percent. We're seeing the differing effects of new construction in North Fulton and Forsyth County. New home building has increased in both areas, strader but consider this fact: the median sales price of a new build in Forsyth is $369,900 – a little higher than the $302,000 median sales price of all homes. However, the median sales price for a new build in North Fulton is $722,000; much higher than $382,000, which is the median sales price of all homes in North Fulton. Because of the dramatic rise in home prices from last year, buyers have been cautious and willing to wait out good values all year long, for both existing homes and new construction. Now, with new home prices skyrocketing, existing homes are looking far more attractive.
Providence Group opens Ruth's Farm model home The Providence Group of Georgia officially unlocked the doors of its brand new, fully-decorated model home at Ruth's Farm in Alpharetta. Featuring the Brentwood home design, interiors of the model home are spacious and open with five bedrooms and a finished basement. The Brentwood model showcases luxury finishes and features including a gourmet kitchen with
large island, granite countertops and stainless steel appliances, family room with coffered ceiling and a wall of windows, hardwood floors throughout the main level, large dining room with butler's pantry and outdoor living space. For more information on available homes or to schedule a tour, visit www.TheProvidenceGroup. com/Ruths-Farm or call 678-392-7466.
October 2014
real estate report • Sponsored Section
Ashton Woods Homes announces new South Forsyth community Ashton Woods Homes has unveiled its newest community in South Forsyth, The Grove at Spring Valley, which opens for sale this month. The community provides 69 single-family homes with architecturally distinct floor plans and options for master bedrooms on the mains, third floors, finished basements and
outdoor living, as well as a selection of floor plans. The Grove at Spring Valley will also offer a pool and cabana. For more details about The Grove at Spring Valley, contact Tara Brown at 770-642-6123 or visit www.ashtonwoods. com.
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Sponsored Section • real estate report October 2014
Zillow and Trulia… good or bad for real estate? By: Robert Aiken Are Trulia and Zillow good or bad for the real estate industry? That question is one of the most contested amongst real estate agents today. Not contested is the fact that both companies have enjoyed impressive revenue and valuation growth. Real estate agents subscribing to their “lead-generation” services represent the lion’s share of each company’s revenue. These agents pay on average $3100/year and $2300/year to Zillow and Trulia respectively. Some of the good things about Zillow and Trulia: Provides greater listing exposure to millions of consumers, the addition of tax records, school ratings and other information to listings is good for consumers and makes the agents’ job easier, levels the playing field for newer agents and agents without many listings, gives consumer access to FSBOs, foreclosures and other non agent represented properties, painting a fuller picture of the available market, creates a new, broadly reaching, advertising platform for agents to advertise their skills. Some of the bad things about Zillow and Trulia: A high percentage of their “available” listings are actually sold or off the market. This confuses and upsets consumers and makes agents look bad, the sites’ property valuations are often way off, making agents’ jobs harder, promotes non-listing agents alongside listings that aren’t theirs, tricking consumers into believing they know the property, sells to any agent, regardless of experience, the title of “Premier” or “Pro”, the “leads” generated for subscribing agents are low quality, non-responsive and a waste of time, the cost of being a subscribing agent is too high for
what you get. Basically, use Zillow and Trulia ONLY as a reference. Go to a professional to verify and provide accurate real estate information. The Forsyth/Lake Lanier Office can be reached at 770-497-2000, ashley.panter@harrynorman.com or visit their website at www.HarryNormanForsyth.com. About Harry Norman, REALTORS® Founded in 1930, Harry Norman, REALTORS ® is Atlanta’s oldest and largest residential real estate firm with 11 sales offices, various franchise and satellite offices, and more than 1,000 real estate professionals. Harry Norman, REALTORS ® is a wholly-owned subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate. HomeServices is the second-largest full-service independent residential real estate brokerage firm in the U.S. with 17,000 sales associates spanning 20 states. Harry Norman, REALTORS ® is the exclusive Atlanta affiliate of Christie’s International Real Estate and achieves additional international exposure through membership in such exclusive real estate networks as Leading Real Estate Companies of the World® the largest network of independent residential real estate firms, with 600 members representing 5,000 offices and 150,000 associates across the U.S. and in more than 35 countries. More information is available at www. harrynorman.com. About HomeServices of America HomeServices of America, Inc. based in Minneapolis, Minn., is the second-largest homeownership service provider in the United States. Owned by MidAmerican Energy Holdings Company, a consolidated subsidiary of Berkshire Hathaway Inc., HomeServices’ operating companies, who average 54 years in the respective markets in which they operate, offer integrated real estate services, including brokerage services, mort-
gage originations, title and closing services, property and casualty insurance, home warranties and other homeownership services. HomeServices Relocation, LLC is the full-service relocation arm of HomeServices of America which provides every aspect of domestic and international relocation to corporations around the world. Information about HomeServices and the locations of its subsidiary companies is available at www.home services.com.
ryland.com
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In the Atlanta division, prices, plans and specifications are subject to change without notice. Photographs and or renderings are for illustrative purposes only. Information believed to be accurate but not warranted. BUILDER magazine gave Ryland Homes an A+ on the Big Builder 2014 Builder Report Card in the May 2014 issue of Builder 100. See a Sales Counselor for details and a complete list of HouseWorks® features. © 2014 The Ryland Group, Inc.
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Finding the perfect home By: Pam Santoro Harry Norman Realtors Are you getting ready to purchase a home? Make a list of the features you want in a house and the area you are looking for: • Is a flat back yard a must have? • Do you need a finished basement? • Is a swim & tennis neighborhood important? • Are you looking to move immediately or within 6 months? These are all things that will help a Realtor find the perfect house for you. Make sure you talk to a banker or mortgage lender to determine which loan works best for you, to define your price range along with closing costs, and to get a pre-approval letter. Once you find your perfect home,
read the seller’s disclosures thoroughly: • Are the HVAC systems old? • Should you ask for a home warranty? • Is there a transferrable termite warranty on the house? • Are all of the apsantoro pliances staying with the property? All these things will help your Realtor work with you to make a good offer to get the house you want especially if the purchase price is in line with the neighborhood comparable properties. To learn more about purchasing a new home or the value of your current home, please feel free to contact me at 678-656-6627 or pam.santoro@harrynorman.com.
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NORTH FULTON OFFICE | 678-461-8700 | North Point Parkway, Suite 100 | Alpharetta, GA 30022 | www.harrynorman.com
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Sponsored Section • real estate report October 2014