Small Homes, Cottages Score Big With Buyers

However, home buyers these days increasingly are interested in smaller homes that consume less energy and encourage interaction among neighbors.

Developers in cities such as Seattle, Boston, and Milwaukee are building cottage developments to meet the rising demand.

Architect Ross Chapin and developer Jim Soules have erected nearly 50 Craftsman-style cottages during the last 10 years in the Seattle area. (Watch Video: Choosing Cottages Over McMansions)

The quirky homes sell for as much as $600,000, despite the fact that they range in size from just 800 square feet to 1,500 square feet.

Chapin uses clever design tricks, such as corner windows and skylights, to give the illusion of more space. He also makes the most of every inch by including crawlspace storage and built-in bookshelves and cubbies.

“These days, we drive to the house, open the garage door, go in,” Indianapolis developer Casey Land told the Wall Street Journal. “But it’s important to get to know your neighbors. I think people miss that.”

Source: Wall Street Journal, Sara Lin (07/18/08..)

High Gas Prices Get More Buyers Moving In

A survey of 900 Coldwell Banker associates reports that 96 percent think rising gas prices concern their clients and 78 percent say higher fuel costs are increasing buyers’ appetite for city living.

Homes in cities and neighborhoods that require long commutes and don’t provide enough public transportation alternatives are falling in value more quickly than those in more central locations, according to a May study by CEOs for Cities, a network of U.S. urban leaders.

In Atlanta, Mike Wright, an associate with Prudential Georgia Realty, says that real estate within the city perimeter has been selling better than properties outside the city, reflecting a trend of people moving “closer-in.”

In Florida, real estate professor Bill Weaver sees this as possibly the beginning of a shift to a more European approach to finding homes.

“Transportation costs in Europe have been so high for so long that they already take transportation into account when they buy a home,” Weaver says. “We’ve just been behind on that. In that regard, you might look at high gas prices as sort of a silver lining.”

Source: The Associated Press, Adrian Sainz

Who is Most Likely to Buy Foreclosures

Interest in purchasing a foreclosed home is rising rapidly, according to a survey conducted in April by Harris Interactive for Trulia.com, a real estate Web site.

Here’s what the survey revealed about buyers who tend to be interested in buying a foreclosure:

  • About 60 percent of single/never-married adults are more likely to be at least somewhat interested in purchasing a foreclosure.
  • About 50 percent of men are likely to be at least somewhat interested compared with 51 percent of women.
  • Younger adults, ages 18 to 34, are the more likely than other age groups to consider buying a foreclosure with 69 percent expressing interest.
  • Only 32 percent of adults 55 and older are interested in buying foreclosures.

Source: Trulia.com

What a difference a day makes…

or even an hour.  Just yesterday I had the privilege of working the West End booth at the Atlanta Home Show within the World Congress Center.  Today the show was canceled due to the tornado and it’s damage… (which I slept soundly through).   God does have a way to make us recognize that he is still in control- contrary to what many would like to believe.

The show was very nice- it was amazing how many people THOUGHT they knew the West End, but really had no clue. It was funny watching them try to pin-point this location (which to me is such a simple location- we have so many “buzz” word places such as- Wrens Nest, Hammonds House, or even Ralph David Abernathy Blvd)…I even throw in- “AFTER the AU Center I-20 West, towards Cascade” a few times lol…  but oh- they do remember “Ashby Street” … why did they change the name again? I will always call Joseph Lowery- Ashby- it just fit.. 

I guess with all new beginnings, renaming will help change what “Ashby” was once identified with…. in my mind, when I lived in Atlanta in 92/93 and went to church on Ashby- I picture prostitution… LOL… I know, I know- there is so much more to that location then prostitution however, that is what I associate it with.  No wonder the name needed to change.

Even with the location confusion- we received tons of  “ooh’s and ahhs” at the beautiful  pictures Carl provided of our homes, and we were able to invite many to our home tour in May (May 2,3,4).

I can’t say it enough, but Carl did a wonderful job of making our booth welcoming, professional and informative. It really was a great show. … of course I was suckered into signing up for many sweepstakes, and should just brace myself for all the telemarketing calls 😦  but who knows-maybe I’ll win an RV …or that $75K jackpot…. then I could buy that home on White Street for myself. LOL

Wanna hear something funny?- One of my buyers actually visited that home as a guest years ago- …I hope that is a sign of him buying it now. Keep your fingers crossed!

Hey, did you see the Westview book? Another amazing job by Patrick and Steffi of NuSpace Media. The book features the residents, the homes and some of the different architectural features-the inside of Tonyel’s home is so unexpected- you would think you were looking into a midtown loft.  Love the family picture of Michelle, Yaya and the little princess 🙂 (Michelle you better not pamper her too much, you’ll regret it later! lol).  I think I saw Scott surrounded by a crowd at one time- he whipped out a few  home listings..lol… Westview is certainly on the move.

I just love my neighbors, their creativity and how they freely give their time and talent for the development of our communities. Kudos to you all. You guys rock!

I’ll add a few pictures later.

Get to know the community

before you buy!!

Just a quick rant, brought on by this ad I saw on craigs list:  ” Willard Avenue in Atlanta, 30310. This property has been rehabbed and is ready for someone to run a business out of it, be it assisted living, rooming house..”

(taking off my Realtor hat)

*sigh* First of all- do you know if the residents will want and need ANOTHER rooming house within this community?   I live here, and I can say with confidence- WE DON’T!!!!  Now, I’m all for helping people, but helping people is NOT the issue or objection.  The bottom line, we have more than enough rooming houses and duplexes in this zip code. We have enough challenges without you coming in creating additional.  Buy one already established and run it- don’t create a new one.  I can direct you to a few for sale.

Frankly, I’m tired of seeing delusional amateur investors come within our community, buy up property, attempt to do crappy renovations (while ripping out all the original character the home had)then place the home on the market for some made-up ‘off the top of my head’ price (people must not do comps for the area) lose it to foreclosure and then the home sits vacant and get vandalized by squatters or other..   If you don’t know by now that this is NOT the market (and zip code) for amateurs to buy and flip in, then you really are in the wrong business.  ATTENTION: YOU WILL NOT BE ABLE TO BUY AND FLIP A HOME IN THIS MARKET AND ZIP CODE WITHIN THE AMOUNT OF TIME MOST HARD MONEY LENDERS GIVE YOU. – oh – P.S. STOP RIPPING OUT THE DETAILS OF THE HOME YOU FOOL! THESE DETAILS SELL HOMES!

I’m also tired of investors who do not live here, nor care about the community that rent the property to  renters who befriend drug dealers, let dealers loiter around, and leave trash everywhere.  Manage your property or hire property managers.  Let the renters know what can and can not be done in a historic community. Check up on your home- is the outside in order?  Or do they have an entire living room ensemble on the porch?  Are they having a bar-b-q on the side walk? Are they hanging clothes to dry on the front porch? Do they have 5 satellite dishes taking over the front lawn? Is the hurbie curbie put away- or is it still in the street 3 days later? Are they throwing away carpet- did they call sanitation for a pickup? Do they know they need to call?  MANAGE YOUR PROPERTY! If need be, factor landscape clean up into the rent too, and get it done- I don’t want your leaves from LAST winter blowing into my yard after I spent my day cleaning! I also do not need your dead tree limbs falling on my car!

What is wrong with you people?  Do you think when you buy, you only impact yourself financially?  Think again! If your property looks like crap next to mines, my value goes down…sorry, I have college educations to think about- I’m NOT having it.

We’re not taking it anymore in the West End  and Westview community …so just a word of advice, although we want you here- come with good intentions.  Be apart of the solution and not the problem. Come out to our meetings. Get to know the residents and your soon- to- be neighbors. Make sure this is the community for you- and your business plans. This will save all of us a lot of headaches- and spare my blog from more rants…. /rant