Getting to know my neighbors & neighborhoods…

This week I toured Loring Heights, it was long over due as I have an office on Peachtreet Street and usually drive up Deering from Northside Dr.  The street named, “Brooklyn Ave”- called me. (I’m a sucka for all things “Brooklyn”)  and I was not let down. It should have been no surprise I would LOVE the community, as their housing stock is a mixture of Bungalows, Ranch homes and much new Traditional construction.  The home renovation trend is evident as you drive around, however there are very few homes available for sale- which mean, this community is “HOT“. Homes sell relatively quickly with a price range of the mid $200K to $1million!  Obviously, there is something for everyone in this great community with easy highway access and close proximity to Atlantic Station (B.K.A. Shopping Grand Central!!)  Here is a great Holiday gift I stumbled on; a HUD HOME!  1642 LORING Drive NW  5 bedroom, 4bathroom for ONLY $330K- did you see that… 5bedrooms, 4bathroom for ONLY $330K  and we’re not too late!! There is still time to get your bid in 🙂 This home has an in-law suite with a separate kitchen and living area featuring its own fireplace! Very cute and cozy for the in-laws or possible tenant.

This community is also zone for great schools, E. Rivers Elementary, Sutton Middle and North Atlanta High- a win/win for the entire family!

View the neighborhood association site HERE  and let’s discuss exploring the possiblities of your new home being in Loring Heights.

 As per Wikipedia:

Loring Heights is a neighborhood of just over 300 homes located in Midtown Atlanta, nestled between Peachtree Street, Northside Drive, and Atlantic Station. [1] The neighborhood provides relatively easy access to I-75/85, GA 400, and I-285.

Getting the house you want at the price you want can be tricky

– even in a buyer’s market. Sometimes a home seller just isn’t willing to budge on price. Don’t despair! There are other ways to sweeten the deal and drive it to close in a buyer’s market. Here are seven tips on how to negotiate with a home seller.

Get the Dirt on the Home Seller

Learn as much as you can about the motivations and situation of the home sellers. For instance, if they’re living in the house and they need flexibility around the closing date, you could offer to be flexible on closing if they move on terms. In the case of estate properties, take some time to learn about the heirs – where they live, what kinds of houses they live in and whether or not they are in legal or financial trouble. It sounds creepy, but most of this information is available for free online once you have the names of the home sellers. You can also research obits and marriage documents that are in the public domain. The more you know, the more leverage you have when it comes time to negotiate.

Know What the Property is Worth

Work independently or with your agent to research comparable sales in the immediate area of the home, then make an offer at least 10 percent below what the market says it’s worth. Dig into the details to figure out how the home you want to buy stacks up against comps, and look for ways to communicate the legitimacy of your offer or requests by backing it up with data. For instance, if all comparable sales have a pool, waterfront property or updated kitchens and the house that you want doesn’t, point that out. Use this data to justify your offer or other requests to create value if they won’t budge on price.

Don’t be Afraid to Ask

If there are things that you want or need to feel comfortable with the deal, ask for them. The home seller can always refuse, but if you don’t ask, you don’t know. If you’ve created leverage by learning about the property and the seller’s situation, you can use this information to ask for things, such as repair of items found during the inspection period or appliances that weren’t listed on the original contract for the house. Don’t make assumptions. Even if your realtor balks at the idea, always ask.

Offer a Quick Close

The faster a deal gets done, the more quickly the home seller can cash out their asset and move on with life. Homes that remain on the market or unsold for extended periods of time become costly to sellers (especially if they’re unoccupied) and start to decline in condition. Offering a quick close builds confidence with the seller as it means that there’s less time for things to go sour with the deal. If you’re situation allows for this negotiation tactic, you might be able to either lower your price or get other benefits in exchange.

Make an As-Is Offer and Ask for the Furniture

If you want to make a reasonable but low offer on a property, consider the pros and cons of presenting an “as-is with right to inspect “ offer. The upside is that you can walk away from the deal if the inspection frightens you. The downside is that what you see is what you get, leaky plumbing, termites, mold and all. If you really want a property and are willing to take it as-is, but aren’t really comfortable with the seller’s floor price, ask for the furniture or other non-fixed assets that make the deal more palatable such as a boat or fitness equipment.

Ask the Home Seller to Cover Closing Costs

If you’re apart on price for the home itself, one way to get around the cash crunch and get a deal done is to meet the home seller on price, but ask them to cover all or part of the buyer’s closing costs. Some home sellers might balk, but if they’re able to do this and want to finish the deal with a sale at a particular price point, this technique can work.

Be Willing to Walk Away

Buying a home can be an intensely emotional experience, but at the end of the day it is really just a business transaction. This means you can’t get attached, and you have to be willing to walk away if you’re unable to negotiate with a home seller or if the seller becomes unreasonable. If the seller’s agent senses desperation or over-eagerness on your part, they might interpret that as a signal that they have the upper hand. Silence can be your friend. Hold your cards close and always be willing to walk away.

 

**All information found online, words not my own**

Community Open House Event!! (Saturday) 3/10/2012 11-3PM

I hope to see you all at my open house event in the Historic West End, Westview Communities on Saturday, March 10th from 11-3PM.

Homes on tour:

868 Rose Circle SW Atlanta, GA 30310

684 Grady Place SW Atlanta

504 E. Ontario Ave SW Atlanta

606 Willard Ave SW Atlanta

1666 Rogers Ave SW Atlanta

There will be live music, artists and plenty of nice homes to view AND purchase!! Bring a friend and spread the word…

http://niaknowles.postlets.com/

Neighborhood LIFT!**Down payment Assistance**

Hello Community!!
Are you ready for the Neighborhood LIFT program? Have you not heard?
Neighborhood Lift is an initiative that Wells Fargo has created for the City of Atlanta. This program will add a new source of down payment funds for homebuyers  who are buying a home in Atlanta. The funds can also  be used for those who are buying a home that needs renovation.  $ 6.4 million in  down payment funds will be made available for those who earn less than 120% of  Area Median Income and will be purchasing a primary residence anywhere in the  City of Atlanta

The program will be kicking off  at a  large event at the Georgia WorldCongress Center on February 10th and 11th so mark your calendar and attend!

Event highlights  include:

·Down payment  assistance program – qualified homebuyers can get up to  $15,000 in a forgivable grant (see flyer below for more  info)

·Homebuyer  education theater – where consumers can learn more about finding and financing a  home and managing the financial responsibilities of homeownership

·Featured homes – consumers can stop by Wells Fargo’s Affordable Home Tour viewing center to  preview the features and prices of area homes for sale and board a neighborhood  home tour bus for a free ride to and from homes they’d like to see  first-hand ( THERE WILL BE HOMES LISTED AND OPEN IN OUR COMMUNITY!)

The four tour areas  are:

1. Castleberry Hill to Northside  drive to Atlantic Station to West Midtown: includes zip codes: 30303,  30318,30309,30363

2. East Atlanta, Beltline, Reynoldstown, Edgewood, Cabbagetown, Kirkwood:  30316,30317, 30307,  30312.

3. Mechanicsville, Peoplestown, Pittburgh, South Atlanta, Lakewood, 30315, 30312,  30354

4. West End to  Cascade: 30310, 30314, 30311,  30331,

Visit this website for more information: http://www.neighborhoodlift.com/