309 Dargan Place SW Atlanta

When I received a call from the owner of this home, he was worried about finding a suitable tenant. Year after year he had to navigate rental collections, home maintenance, and at times, evictions – that just took the joy out of owning a second home.  I was pleased to give him the great news of the many new potential home owners the West End (and other intown Southwest communities) have been flooded with.  This time- REAL buyers. REAL people, looking to make our communities their home.  With that report, ” Let’s sell it- there is no sense in keeping it to myself” was his response.

I greatly appreciate those, as the song goes “know when to hold ’em
Know when to fold ’em, Know when to walk away, And know when to run”
Right now, many communities are still suffering with blighted homes because some investors have not learned this lesson.   Do you not realize, you have kept the values down much longer than needed- not only for the community, but for your own portfolios by forgetting about your investment?

The first step in reaping the benefit of getting the most from your investment- identify and work with a local agent with a pulse on the market to help you with your acquisition and exit strategy.

The second step- do not let your properties deteriorate – this will hurt you and the community.  Be a good neighbor,when you’re not- expect to have ALL EYES ON YOUR EVERY MOVE AND CODE ENFORCEMENT AT YOUR DOOR.

Third, do good* great* quality* work! Do not hire unlicensed, inexperienced people to save money. Consider:  would you have them work on your own home?  Your mother’s home?  It is not good enough to partially renovate a home and get ANY dollar.  Why not develop a reputation that will cause buyers to seek out your next project?  Why not get top dollar and CREATE a new price range because all other projects can’t compare?

Fourth, be Authentic -not a follower.  Every floor plan should not look the same- and every home was not built to have an ‘open floor plan’.    At times, you are making our homes structurally unsound. Lastly, find another store- HOME DEPOT has enough business and my neighbors would like their home to be unique. PUT SOME THOUGHT INTO IT, but not too exotic.

Bungalows have a story of their own and those buying are looking to add their own chapters… we need you, as the restorer to prepare the pages.


Atlanta No. 2 most affordable housing market

Metro Atlanta hasn’t been the greatest place in the country to own a home, as everyone with a devalued house in these parts knows.

There is some good news, relatively speaking, though.

It doesn’t cost that much to buy here.

Atlanta ranks second in the U.S. among the top 25 metro areas in terms of home affordability, new research from Interest.com, a Bankrate company, shows.

The median household income in the Atlanta area exceeds the income required to purchase a median-priced home here by 40 percent. That’s better than every other  big market except for Detroit, where it’s 45.32 percent.

The rest of the top five most affordable metro areas are Minneapolis, Phoenix and St. Louis.

Of course, Detroit is hardly the symbol of economic success, and Phoenix has had major housing issues.

The least affordable markets: San Francisco, New York, San Diego, Miami and Los Angeles.

Housing affordability is key concern nationally, and nationwide a  median-income household can afford a median-priced home in only 14 of the 25 largest markets, the study found.

Mike Sante, managing editor of Interest.com, said, “Despite all the talk about how homes are more affordable than they have been in decades, buying a home is still a big challenge for many American households.”

Sante continued, “Dealing with rising expenses and stagnant wages is a struggle. Even after years of declining home prices and record-low mortgage rates, median-income households are unable to afford a median-priced home in nearly half of the metropolitan areas that we looked at.”

AJC 10:39 am October 17, 2012, by David Markiewicz

Short Sale Help

I know. I said I would NEVER do another short sale in my life after the last 15month mess. But after having a few good smooth sales close using the new systems banks have put in place, I’m hopeful and looking for the next owner to help.

So, what IS a Short Sale?  Here is a link I’ve found helpful:

Bank Of America Short Sale Program

Here is a YouTube Video (it’s made in Houston but the information is relevant for all)

If you are a home owner under water or experiencing hardships in paying your mortgage, let’s talk. There are options- and all do not include selling your home.

Affordable Housing Workshop and Bus Tour!

“Dear Friends of Invest Atlanta,
Please help us promote our upcoming affordable housing workshop and bus tour to your employees, friends, constituents, readers and networks. This event is free and prospective home buyers will get a chance to tour available properties in Atlanta neighborhoods and learn how to access up to $40,000 in downpayment assistance. This is an all day event for home buyers and will take place at City Hall, 55 Trinity Avenue, SW, Atlanta, GA 30303, in the atrium.”
RSVP’s are required to Sarah Head at 404-614-8317 or email her at shead@investatlanta.com.
Help us re-invigorate Atlanta’s historic intown neighborhoods!