Sun Mar 10 23:36:00 UTC 2024

Zillow's Actions Contribute to the Housing Affordability and Inventory Crisis.

Posted by: Royan Johnson

In the labyrinth of the modern housing market, Zillow has long been regarded as guiding light, offering home seekers a digital haven to explore properties with ease. However, beneath its user-friendly interface lies a more troubling narrative—one marked by past actions that have significantly contributed to the current housing affordability and inventory crisis.

At the core of Zillow's controversies lies its ill-fated foray into iBuying, a practice where the company purchased homes directly from sellers, often using its proprietary Zestimate tool to evaluate property values. The Zestimate heralded as a revolutionary home pricing estimator, has come under fire for inflating house prices, thereby exacerbating affordability issues. This artificial inflation not only distorts market dynamics but also perpetuates a cycle of unattainable prices, leaving aspiring homeowners stranded on the sidelines.

Moreover, Zillow's iBuying misadventure had more insidious consequences. When the venture failed to yield the expected returns, Zillow hastily offloaded its inventory of properties to investors, who subsequently converted them into rental units. This mass conversion further diminished the already limited housing inventory, placing additional strain on an already fragile ecosystem.

Beyond its iBuying debacle, Zillow's actions have been accused of contributing to market manipulation. By wielding significant influence over online property listings and employing opaque algorithms to determine home values, Zillow has played a pivotal role in distorting perceptions of market trends and pricing dynamics. This manipulation not only undermines the integrity of the housing market but also perpetuates a cycle of speculation and volatility that erodes affordability and stability.

In light of these revelations, it is imperative that individuals engaged in the housing market exercise caution when relying on Zillow's services. Rather than navigating the treacherous waters of online listings and estimations, prospective buyers and sellers are encouraged to seek guidance from trusted local brokers and agents directly. By bypassing Zillow's platform, individuals can ensure a more transparent and informed transaction process, free from the shadow of market manipulation and inflated valuations.

In conclusion, Zillow's past actions have left an indelible mark on the housing market, contributing to the current affordability and inventory crisis. As stakeholders in this complex ecosystem, it is incumbent upon us to recognize the ramifications of Zillow's influence and take proactive steps to mitigate its impact. By empowering ourselves with knowledge and seeking guidance from reliable sources, we can navigate the housing market with confidence and integrity, ensuring a more equitable and sustainable future for all.

Additional video: Is Zillow Manipulating The Housing Market?

Wed May 05 19:54:00 UTC 2021

Selling My Home

Posted by: Royan Johnson

Pricing your home accurately is the most important part of getting a quick sale. If your home is overpriced it will sit on the market. The longer a home sits on the market the more difficult it becomes to sell. Some sellers want a set amount for the sale of their home. However, the price a seller wants to get is not the criteria used to set the asking price for a home. A home is worth what a ready, willing and able buyer is willing to pay for it, not what the seller wants to net whether there is a loan payoff or not. It’s important to know what similar homes in your neighborhood have sold for in the current market, and how long they stay on the market.

After coming up with a realistic asking price the next phase is to prepare the home for showings to prospective buyers. A home that has been occupied has normal wear and tear and can be a little clutter. Start by decluttering. Clean underneath kitchen and bathroom cabinets. Clean out closets. Give outdated clothes and shoes to shelters or to someone who can use them. Clean out attic, basement garage, and other storage areas. Make whatever repairs necessary. Add a fresh coat of paint. Clean, or replace the carpet. Your home should look and smell its best for showings.

Whether they see a for sale sign in the yard or by internet search landscaping and exterior maintenance are what help draw prospective buyers to a home for sale. Pressure wash and keep the yard mow and clean. Open up windows to let fresh air in. Add Air Freshener throughout the home. Make sure there is proper lighting in every room.

Be as accommodating as possible to prospective buyers. Don’t hang around during showings. Find a place to go. Sellers shouldn't be in the home during showings because it can make most prospective buyers uncomfortable. They feel like the seller is breathing down their neck which is not a relaxing way to view a home. Having the seller in the home at showings may affect the Prospective buyer’s ability to explore the home objectively. Leave the showing in the hands of your real estate agent.

Attractive landscaping and exterior maintenance help to draw prospective buyers to a home. Whether they find your home on the Internet or a drive-by, exterior attractiveness is a powerful draw. Give your home’s exterior a good pressure washing, remove leaves and pine straw from the roof and gutters. If you’re not a yard person, hire someone to freshen things up and make your landscaping beautiful and inviting.

Additional Reading
Make Sure The Price Is Right When Selling Your Home

Fri Sep 11 19:31:00 UTC 2020

How to prepare for a video interview - One Temp Agency

Posted by: Royan Johnson

How to prepare for a video interview - One Temp Agency: Getting the job is the number one priority. See tips on how to prepare for a video interview that will help you dazzle the Hiring Manager and get the job.

Sun Apr 19 13:02:00 UTC 2020

Blog - One Temp Agency

Posted by: Royan Johnson

Blog - One Temp Agency: How to dress for my job interview, How to prepare for my job interview, Resume Tips, How to get a job in a bad economy, How to answer and ask job interview questions, job search

Sat Feb 22 21:51:00 UTC 2020

First Time Home Buyer

Posted by: Royan Johnson

Nationwide Home Search

Purchasing a home can be an intimidating process, but with the proper guidance, you can accomplish your goals. Luckily there are several outlets that you can go to to help you. A local realtor/real estate agent or a loan officer is the best place to start.

Get Pre-Approved or Pre-Qualified

Go into the process with confidence. Get Pre-Qualified or Pre-Approved before you start looking at houses. Sellers do not entertain offers from buyers who do not show that they have the means to purchase. Your loan officer will guide you through the loan process by informing you of the different ways to purchase a home, the different types of home loans, and which is right for you. The amount that you will be Pre-qualified or Pre-Approved for, is based on your monthly income minus your monthly obligations such as monthly car payments, utility bills, food, student loans, other monthly payments obligations, and savings for downpayment and closing costs.

Work with a realtor to find your home

Your realtor will work with you in finding a suitable home, prepare and present your offer to the seller. Once your offer is accepted by a seller, your realtor will work with your loan officer, escrow attorney, homeowner inspector, appraiser and answer any questions you have throughout the process. Keep in mind that a realtor should work in your best interest. Avoid a realtor who is working in a Dual-Capacity (buying and selling agent and the same transaction or is an agent at a new construction home site).

Realtor rules

Because of license rules, a home buyer can only work with one realtor at a time. However, if you are working with a realtor that you are unsatisfied with, contact another realtor. Inform the original realtor that you no longer wish to have them as your realtor. Cancel any buyer’s agreement you have with them so that there is no conflict going forward.

Don’t rush the process

Be thoughtful. Don’t make hasty decisions. It takes a minimum of 3 to 5 years to recover the cost of purchasing the home. Where you purchase a home should depend on things such as job stability, your lifestyle, and whether or not you have school-age children.

It is not wise to purchase a home that is too far from your workplace. Traveling to and from work might be too much of a challenge.

Your lifestyle consists of what you do for entertainment and recreation. Are you someone who likes to go out for entertainment or go for a walk /run in the park? Are you an in-towner or suburban person? Is the school district important to you if you have school-age children?

These are some of the questions that should be answered before you decide where to purchase a home.

The home search

Without making the search too difficult for you and your realtor. Look at as many houses in your price range as possible until you find the one that will work best for you. Keep in mind that at some point you have to make a decision so before you start the search give some thoughts to what you can live with and what you can live without in a home. Don’t get advice from too many people. Having too many opinions will make it harder for you to make a decision.

To Verify Credentials of your Loan Officer’s and Real Estate Agent’s Follow the links below!

NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY

NATIONWIDE REAL ESTATE LICENSEE VERIFICATION DATABASE

Tue May 29 18:59:00 UTC 2018

6 Perks to Working with a Realtor

Posted by: Royan Johnson

Find a home visit Century 21 Atlanta GA

Working with a REALTOR

The journey to homeownership can be a daunting process – especially with today’s limited housing inventory and competitive real estate markets. That’s why now, more than ever, it is greatly beneficial to work with a professional Realtor. Here are 6 perks to working with a Realtor:

Guidance

If you are buying your first home, you will find comfort working with an experienced real estate professional. They can help determine your ideal location, based on preferences and budget. It’s easy to go down a rabbit hole when looking at real estate listings online and you can lose track of what is actually attainable within your budget. A Realtor can help you distinguish between your must-have home features and your nice-to-have features in order to better target your search.

Knowledge

An experienced real estate professional will have the expertise to provide you valuable information on local home markets and comparable sale prices. Purchasing a home can be a complex process. Your Realtor will have the experience to fully explain the steps in purchasing a home and can help you navigate any bumps along the way.

Network

Established Realtors have a robust network of other professionals who help facilitate a smooth transaction process. Realtors often have working relationships with other local Realtors, home inspectors, contractors, and lending professionals. If a Realtor knows your preferred neighborhood, they can reach out to their network and get information on homes for sale –sometimes before they are officially listed, which can help give you a leg up on the competition!

Advocate

One of the biggest perks of working with a Realtor is that you will have an expert who is contractually bound to protecting your best financial interests. When making a large financial decision, such as buying a home, there is a sense of security knowing your Realtor has your best interest in mind.

Protection

During the home purchasing process, there are various potential problems that can arise. Luckily, a Realtor can monitor all the paperwork to help avoid any pitfalls. Whether it be clearing the title of the house, managing financing deadlines or arranging contractors to complete home repairs prior to the house closing, your Realtor will manage all these items. Your realtor will handle important transactional details so you can focus on preparing for your big move.

Negotiation

Most importantly, your Realtor will handle the entire negotiation process. This includes presenting your offer and counteroffer forms. If any problems are identified during the home inspection, your Realtor can negotiate the repairs. The benefit of having an experienced Realtor handle your negotiations is that they have a clear idea of what is reasonable and can present your offer in a professional manner. Negotiating is the main component of your Realtor’s job. Their experience and knowledge of the market combined with their negotiating skills make your Realtor the best person to go to bat for you.

FIND A HOME

National Home Search

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Fri Dec 22 22:09:00 UTC 2017

9 Ways to Curb Stress When Selling your Home

Posted by: Royan Johnson

Visit My Website

Curb Stress When Selling your Home

The moving process can be overwhelming. However, there are ways to help curb stress during the process. Regardless of all that’s going on, there are some techniques to consider to make this process less stressful. Century 21 Atlanta GA offers a few ideas on how to combat the stress you will face through the selling and moving process. Try out these strategies to turn this significant life event into an exciting and memorable one with as little stress as possible.

First, take time to choose the right realtor

Hire a realtor that is not only capable of handling the market but your expectations as well. A realtor has the knowledge and experience to get you to the closing table as quickly as possible with little or no setbacks. Here are some tips to look for when finding a realtor.

Trust the choice you make.

Once you make a decision, trust that choice. You hired this agent for a reason, and they are here to make your life much easier. Accept that the home selling process is in their hands, and you are their number one priority. A significant amount of stress during this process stems from the lack of control that a seller has over the home selling process. You as a seller should not be afraid to speak up, ask questions, and stay in the loop. Remember your agent is there for you.

Don’t sweat the little stuff.

Selling a home is one of the most life-changing events one can go through. There will be multiple complications that are bound to arise throughout the process. So, it is important to focus energy on fixing the big things and don’t waste time on the small ones. Selling a home can also be one of the most exciting events in one’s life. It’s an opportunity to start new and move into a new chapter of life. Remain positive throughout the process. Offers will change, you might have to fix a broken water pipe but don’t sweat it too much. It will be worth it when you close and are able to move on.

Stay in constant communication with everyone involved.

Always stay in communication. Stay in communication with your agent, buyer(s), and all the others in your life that selling your home will have an effect on. Utilize your support system there are there for a reason. Also, remember to allocate time for other things besides just selling your home.

Try your best to stay in the right mindset.

Selling your home might not be as quick and easy as you might think. It is a marathon, not a sprint. You cannot rush the process. It is important to remain calm even when things don’t go as planned. Take a few deep breaths. You don’t have to stop living Just because you are selling your home. Be sure to take a few minutes each day to organize your thoughts. Maintaining a healthy lifestyle throughout the process is very important. Do whatever you need to do to help calm your mind.

Preparation is the key.

Start the process when you feel that you are fully prepared to take on all the responsibilities that are associated with it. Being prepared will help you deal with any possible pitfalls that rose during the selling process. Talk to your agent so that you know all that you should expect as the seller, and from all other parties involved in the process. Keep the dialogue open with your realtor as the process goes along.

Like it or not it’s a business transaction: Don’t take it too personally.

Selling a home can sometimes be an emotional roller-coaster. Sometimes the offers you are getting are not what you expected, or you may not be getting any offers. These are all very common in real estate. Sometimes homes sell very quickly. Sometimes they take a little longer sell. Don’t take anything personally. It might have nothing to do with the worth of your home. You might just have to be patient.

Market condition

Most sellers are prideful of their home. Sometimes, however, this pride causes sellers to demand unrealistic sale price which will, in turn, low offers or sometimes get no offers at all. Don’t let your pride in your home impaired your realistic view. Listen to the market and your realtor’s advice about the worth of your home. Price a home right to attract qualified buyers. Overpricing your home more than not will delay the sale.

Be Proactive.

Think about what you can do to get the highest offer and make the transaction smooth. Think about any home improvements and repairs that might be needed to be done before listing the home. Remember to make the home uncluttered as possible. Taken care of these things beforehand will be fewer things you’ll have to worry about while the home is on the market or under contract.

Some of these tactics are easier said than done, however, try your best to put them in play. The key is to reduce the stress levels as much as you can during the home selling process.

Century 21 Atlanta GA For All Your Real Estate Needs

Sun Jul 30 18:42:00 UTC 2017

Crucial facts about FHA loans

Posted by: Royan Johnson

What is an FHA loan?

National Home Search

An FHA loan is a mortgage insured by the Federal Housing Administration. Borrowers with FHA loans must pay for mortgage insurance, which protects the lender from a loss should the borrower defaults on the loan. Because of the mortgage insurance, lenders can offer FHA loans at attractive (lower) interest rates with less stringent and more flexible qualification requirements to borrowers.

Here are some facts about FHA loans.

Credit does not have to be perfect!

The minimum credit scores for FHA loans depend on the type of loan a borrower needs. A credit score of 580 or higher can get a borrower a mortgage with a down payment as low as 3.5 percent. With credit scores of 500-579, you will need down payments of at least 10 percent. Those with credit scores under 500 generally are not eligible for FHA loans. However, FHA will make allowances under certain circumstances for applicants who have what it calls "nontraditional credit history or insufficient credit" if they meet requirements. Check with your FHA lender or an FHA loan specialist to see if you are qualified with a score under 500.

Down payment of 3.5 percent

For most borrowers, FHA requires a down payment of 3.5 % of the home purchase price. That's a huge attraction, especially for first time home buyers. In late 2014, Fannie Mae and Freddie Mac reduced minimum down payments to 3 percent from 10 percent, but such loans have limited availability.

FHA borrowers can use their own savings, a gift from a family member, or a grant from a state or local government down-payment assistance program to make their down payment.

Closing costs may be covered

The FHA allows home sellers, builders, and lenders to pay some of the borrower's closing costs, such as an appraisal, credit report or title expenses. For example, a builder might offer to pay closing costs as an incentive for the borrower to buy a new home. Resellers do the same as well to attract buyers to the sale of their home. (Ask your realtor to negotiate some or all of the closing costs in your purchase and sales agreement).

Lenders typically charge a higher interest rate on the loan if they agree to pay closing costs. Borrowers can compare loan estimates from competing lenders to figure out which option makes the most sense.

The lender must be FHA-approved

Because FHA is not a lender, but rather an insurer, borrowers need to get their loan through an FHA-approved lender (as opposed to directly from the FHA). Not all FHA-approved lenders offer the same interest rate and costs savings on the same FHA loan.

Costs, services, and underwriting standards will vary among lenders or mortgage brokers, so it's important for borrowers to shop around.

Two-part mortgage insurance

There are two mortgage insurance premiums that are required on all FHA loans: The upfront premium is 1.75 percent of the loan amount ($1,750 for a $100,000 loan). This upfront premium is paid when the borrower gets the loan. The upfront premium can be financed as part of the loan amount.

The second is called the annual premium and is paid monthly. It varies based on the length of the loan, the loan amount, and the initial loan-to-value ratio, or LTV. The following premiums are for loans of $625,500 or less.

Annual premiums for FHA loans

The 30-year loan, down payment of less than 5 percent: 0.85 percent

The 30-year loan, down payment of 5 percent or more: 0.80 percent

The 15-year loan, down payment of less than 10 percent: 0.70 percent

The 15-year loan, down payment of 10 percent or more: 0.45 percent

Cash can be borrowed for needed repairs.

FHA has a special loan product for borrowers. Borrowers who need extra cash can finance up to $35,000 for nonstructural repairs for items such as cabinets, fixtures, and painting. This loan is called a 203(k) loan and is not based on the current appraised value of the home. It is based on the repair cost to the home.

Financial hardship relief allowed

FHA insurance isn't supposed to be an easy out for borrowers who are unhappy about their mortgage payments. It is a loan service that offers some relief to borrowers who have an FHA-insured loan, who have suffered a serious financial hardship or are struggling to make their mortgage payments. Such relief might be in the form of a temporary period of forbearance, a loan modification that lowers the borrower’s interest rate, extend the payback period or a deferral of part of the loan balance at no interest.

For more information on FHA CENTURY 21 ATLANTA GA, ATLANTA GA REALTORS or HUD.GOV

Mon Jul 10 20:44:00 UTC 2017

IMPROTANT THINGS YOU NEED TO KNOW WHEN BUYING A HOME

Posted by: Royan Johnson

National Home Search

If you are in the market to buy a home, the process can seem overwhelming. Here are a few things to keep in mind as you begin your home search.

Contact a local real estate agent

The first step is to find a local real estate agent who is familiar with the market which you are interested in. This alone can be a process, so make sure you are well informed. Do your research and ask questions until you find someone who is experienced and one you can trust.

Know what you are looking for

Remember it is hard to get everything you want when buying a home. So, think about what most important to you. It’s good to jot down the requirements of what most important to you. What are your must-haves and what you willing to compromise on? Communicate those needs to your real estate agent.

Consider the Cost of Homeownership

Owning a home costs more than just the mortgage payment so, budget accordingly. In addition to your monthly payments, consider property taxes, utility bills, homeowner’s insurance, and Home Owner’s Association (HOA) dues, (if there are any). You also want to think about transportation and the cost of living in your new neighborhood. You may also plan on some upgrades and repairs if you are purchasing a reseal home. Remember larger the home is the greater the utility and maintenance expenses.

Location Is Important

A home is only worth as much as it’s neighborhood. So, be sure that you purchase a home in a neighborhood you like to live in. Again, make a list. What kind of neighborhood would you like? If you have school-age kids, the school district might be very important to you. How far are you willing to commute to and from work? And what is the overall feel of your ideal community? If you have never visited the area that you would like to live in do so (more than once if possible). Make sure this is where you can imagine yourself living.

Know Your Loans-Financing Options

Every home loan advertisement looks great on paper but what’s in is the fine print? Make sure you know your interest rates, down payment requirements, and penalties. Make sure your loan officer go over these with you. Don’t be afraid to ask questions if something is not clear. Also, don’t be afraid to shop around and turn down loan offers that seem troubling or confusing.

Obtain Full Property Disclosure and Home Inspection

By law, the home seller is obligated to disclose any problems with the home or condo that you are buying. However, there may be additional costly repairs such as foundation problems that the current owner is not aware of. So, hire a professional home inspector to inspect the home. Your real estate agent should be able to recommend a quality home inspector. Get a professional home inspection regardless of whether or not purchasing a new or reseal home. You don’t want to buy a home that may potentially cost you thousands of dollars in additional repairs.

Get Everything in Writing.

Real estate jargon can be confusing. Get it all in writing and if you don’t understand something, make sure to ask your real estate agent. To buy a home, it is imperative that you collect each piece of information and the overall transaction in writing so, that you are covered in case something goes wrong.

Before Closing

Before your purchase is final, make sure to purchase home insurance and title insurance. In addition, consider purchasing a home warranty, if it’s not included in the transaction. On the day of closing do a final walkthrough with your real estate agent to make sure the home is in the same condition as it was when you initially agreed to purchase.

Tax deductions

Owning a home will also qualify you for certain tax deductions. It is important that you take advantage of them each year. Your tax preparer will help you get these deductions.

Get Excited

Most importantly, get excited. You will now be a proud homeowner and this is a big accomplishment. A place to call your own! The first step to buying your home is to find a local real estate agent in your area to help you. CENTURY 21 REALTY only works with the best real estate agents in each city. Let CENTURY 21 REALTY help you find your real estate agent today.

To find your dream home in Atlanta/Metro Atlanta click here National Home Search click here

Sun Feb 19 21:09:00 UTC 2017

Security Tips to Keep Your Home Safe and Your Family Protected!

Posted by: Royan Johnson

National Home Search

When you sleep to sleep at night, can you rest easy knowing that your family is protected? There may be some neighborhoods that are considered safer than others to live in. However, it is always a good idea to do what you can to help protect your home to avoid unwanted entry. Here are a few things that you can do to protect the safety of your family:

Assess the Lighting In and around Your Home

Proper lighting is essential to deter intruders. Good lighting makes it harder for anyone to sneak in undetected. If possible put some lights on automatic to come on in the evening until early morning. Lights on in the evening make it appear as though someone is home even if no one is. In some areas on the outside, you should consider installing motion detector lights. If someone approaches your home and the lights come on it increases the likelihood that they will turn around and leave. It’s also a good idea to leave a bedroom light on a radio or TV on when you are away on vacation or away overnight.

Security Systems

There are some great security systems that can be used to improve the safety of your home. Some of these systems can be managed from your smartphone and internet giving you updates and notifications every time a door or window opens. Other features include motion sensors that can be tripped to notify monitoring services if someone enters your home when they (alarms) are on.

Change the Locks

When you purchase your home, the first thing to do is change the locks or replace the key(s) on all entrance doors. You never know who still has a copy of the keys! The previous owner could have provided keys to friends or family, giving people access to your home if the locks are left in place.

If you decide to only change the keys can take the door handles and deadbolts to a local hardware store, and they will switch out the locks for a reasonable price. There are also locks reinforcements that can be installed on the doors, such as a door brace that can only be locked and unlocked from the inside of your home.

Keep all entrance doors lock, even when you are at home. It takes no time for someone to enter your home if your back is turned. So, maintain a good habit of always locking the doors. The vast majority of the time intruders come in through the front or back door so; you can reduce the likelihood of intrusion by keeping those doors locked and install proper lightings.

At Century 21 Realty, our goal is to fulfill your real estate needs in all neighborhoods. If you are in the market to buy or sell a home, then we invite you to contact your experienced realtor to learn more: (770) 262-7533 or atlantahomes@live.com or visit my website: www.atlantafinestrealtor.com

URL: www.atlantafinestrealtor.com

Mon Jan 02 21:19:00 UTC 2017

Tips That Will Help Speed Up Your Home Sale

Posted by: Royan Johnson

By Royan Johnson @ CENTURY 21 | January 2, 2017

How to sell my home fast

National Home Search

Every seller wants a faster home sale. Make a good impression on buyers to increase your chances of a speedy sale. Not sure how to do that? Here are some tips for every step of the home sale process.

Optimize Your Listing: A picture tells a thousand words. Make sure or your agent takes professional quality pictures of your home. You want to stand out among the abundance of online listings (for all the right reasons). Work with your CENTURY 21 listing agent to write your listing and seller’s marketing plan.

Upgrade Your Curb Appeal: The outside of your home is the first area a potential buyer will see. Spruce up your yard and exterior (mow the lawn remove debris). If necessary add a fresh coat of paint, a new mailbox, new landscaping, and more.

Clear Clutter: Getting rid of clutter makes your home appear larger and more appealing to buyers. Put away or donate usable items, and get rid of items that are unusable. Once you’ve paired down, get organized so everything looks neat and tidy.

Make Your Home Feel Larger: Use light paint colors, incorporating mirrors, adding extra lighting, and sticking to a monochromatic color scheme that may make your room appear larger. Home decor and home improvement changes should be made before your open house.

Accomplish Home Improvement Projects: Pick up a hammer and nails, and complete some home upgrades. However, don’t improve things too much.

Avoid Common Seller Slip-Ups: Overpricing: Attract few buyers, Poor Condition: Create low buyer’s excitement produce lower offers if any, Weak Motivation: you the seller not responding to offers on a timely basis, Limiting Access: very few viewers and not Understanding Marketing: Similar to overpricing. Believing that your house is worth more than it actually is.

Open Houses: An open house is a key component of the home sale process. You want your open houses to run as smoothly as possible. Make it your agent’s job to handle the open house process. Don’t hang around the open house. Also pets out of the homes as well.

Set the Price: Setting a price can be tricky. You don’t want to price too high or too low. Your agent should do their research by completing a full CMA of prices of similar houses in the immediate neighborhood that was sold in the last 6 months. (Before listing with an agent asks for a CMA. A CMA will help you understand why the agent came up whit the recommended list price that they do.

Make Century 21 Atlanta GA your go-to for all your real estate needs in Greater Atlanta.

Wed Nov 30 22:15:00 UTC 2016

Keeping your home functioning safely and efficiently in the winter

Posted by: Royan Johnson

National Home Search

When you sleep to sleep at night, can you rest easy knowing that your family is protected? There may be some neighborhoods that are considered safer than others to live in. However, it is always a good idea to do what you can to help protect your home to avoid unwanted entry. Here are a few things that you can do to protect the safety of your family:

Assess the Lighting In and around Your Home

Proper lighting is essential to deter intruders. Good lighting makes it harder for anyone to sneak in undetected. If possible put some lights on automatic to come on in the evening until early morning. Lights on in the evening make it appear as though someone is home even if no one is. In some areas on the outside, you should consider installing motion detector lights. If someone approaches your home and the lights come on it increases the likelihood that they will turn around and leave. It’s also a good idea to leave a bedroom light on a radio or TV on when you are away on vacation or away overnight.

Security Systems

There are some great security systems that can be used to improve the safety of your home. Some of these systems can be managed from your smartphone and internet giving you updates and notifications every time a door or window opens. Other features include motion sensors that can be tripped to notify monitoring services if someone enters your home when they (alarms) are on.

Change the Locks

When you purchase your home, the first thing to do is change the locks or replace the key(s) on all entrance doors. You never know who still has a copy of the keys! The previous owner could have provided keys to friends or family, giving people access to your home if the locks are left in place.

If you decide to only change the keys can take the door handles and deadbolts to a local hardware store, and they will switch out the locks for a reasonable price. There are also locks reinforcements that can be installed on the doors, such as a door brace that can only be locked and unlocked from the inside of your home.

Keep all entrance doors lock, even when you are at home. It takes no time for someone to enter your home if your back is turned. So, maintain a good habit of always locking the doors. The vast majority of the time intruders come in through the front or back door so; you can reduce the likelihood of intrusion by keeping those doors locked and install proper lightings.

At Century 21 Realty, our goal is to fulfill your real estate needs in all neighborhoods. If you are in the market to buy or sell a home, then we invite you to contact your experienced realtor to learn more: (770) 262-7533 or atlantahomes@live.com or visit my website: www.atlantafinestrealtor.com

URL: www.atlantafinestrealtor.com

Thu Nov 03 21:10:00 UTC 2016

Avoid These Common First-Time Home Buyer Mistakes

Posted by: Royan Johnson

National Home Search

Buying a home for the first time can be cumbersome. You’ve never done it before, so it’s normal to feel a bit overwhelmed. Luckily, we’ve pulled together some of the common mistakes first-time homebuyers make. Learn from them, and you may have a smoother home buying process.

· Forgetting About Costs:

Your mortgage will probably not be the only cost when it comes to buying a home. Smaller costs like property insurance, taxes, electric and water bills, and other fees may start to pile up. Before buying a house, you may need to look further into your savings to figure out if you can pay for all of these additional charges.

· Looking for a Home Before the Loan:

Once you find a house and decide to buy it, you don’t want to spend time wondering if you can afford it. Knowing your budget, and that you are a qualified buyer before you begin your search may make the process easier and more efficient. Once you decide that it’s time to buy a home, get pre-approved for a loan. Contact your Century 21 real estate agent to talk about getting pre-approved for a loan that suits you.

· Not Hiring Professionals:

Moving isn’t as simple as picking up your stuff and renting a van. It takes a village to move into a new neighborhood. Your team can only be as good as your weakest link, so you may want to ensure that you have only the best players. Get your home buying team in place before starting the search. A Century 21 real estate agent can help you put the right team together.

· Being Too Picky:

There’s nothing wrong with knowing what you want when it comes to buying a home. But if your “must-have” list gets too long and too specific, you may end up looking for your perfect house for a very long time. Also, remember that you can make changes once you move in. It may be wise to take the time to figure out what you really need versus what you want. If you are unsure where to start, our checklist may help!

· Lacking Vision:

Some of the open houses you attend may not look move-in ready. But plenty of homes have hidden potential. When you look for a home, try to look past the 70’s shag rugs and lava lamps. Imagine what the home will look like after you’ve moved in with all of your own belongings, or try to envision the structure of the home without the stuff inside it. This will be an important skill, especially if you’re looking to buy a fixer-upper as your first home.

· Ignoring the Future:

If you plan on living in this house for a long time, you may want to think ahead. You may decide to have kids in a few years, and then you’ll have to worry about another set of questions. Will there be enough bedrooms? Is the house located in a good school district? These may be things to think about when buying your home.

So whether you’re just starting to think about buying your first home, or you’ve already spent some time looking, there may be a lot to learn from this list of mistakes.

Source: century21 real estate blog.

For all your real estate needs in Greater Atlanta, GA visit: Century 21 real estate agent's website.

Fri Oct 07 19:27:00 UTC 2016

HOME BUYING ADVICE

Posted by: Royan Johnson

Buying a home is a significant and exciting decision. This section provides professional real estate advice and helpful home buying tips.

First Steps

The Internet and real estate professionals are the top two resources most buyers turn to when searching for a home.1 When it’s not convenient for you to speak directly with a real estate professional, century21.com can help improve your overall home buying experience and provide guidance to reduce stress, save time, and make you a savvy, successful consumer.

A CENTURY 21® Agent is ready to make a full-time commitment to help you capitalize on current market opportunities and assist you in making an informed decision.

To ensure you make the right choice for the long term, a CENTURY 21 Agent offers extensive knowledge in:

Neighborhoods, schools, and market conditions
Mortgage specialists who can assist you with your financing
Technology that gives them an edge, along with multiple resources available just for you on century21.com / atlantafinestrealtor.com

Would you like to receive more information on the home buying process? Contact a CENTURY 21 Atlanta GA Agent (My CENTURY21).

1 2010 National Association of REALTORS® Profile of Home Buyers and Sellers

Finding the right real estate agent can make you a savvy consumer and improve your overall experience.

LOOKING FOR A HOME

The single biggest reason most people buy a home is the simple desire to own a home of their own.1 At the same time, homeowners accumulate wealth for the future while enjoying the benefits of a residence that they can use, improve and enjoy. What’s different is each individual’s wish-list of essentials; from public transportation to the number of bedrooms, we can help you create a comprehensive list and go from there.

1 2010 National Association of REALTORS® Profile of Home Buyers and Sellers

WHAT'S RIGHT FOR YOU?

Looking for a house to buy? This section will help you create a prioritized list of features to narrow your search.

What's the Right Home For You?

Before deciding which house to buy, consider your lifestyle, current and anticipated housing needs and budget. It’s a good idea to create a prioritized list of features you want in your new home; you'll quickly discover finding the right house involves striking a balance between your "must-haves" and your "nice-to-haves."

If you love to cook, you'll appreciate a well-equipped kitchen. If you're into gardening, you'll want a yard. If a home office is a must, you’ll need a room that will provide you adequate workspace. If you have several cars, you may require a larger garage. Use this list as your search guide.

Next, think about what you might need in the future, and how long you are likely to live in this particular home. If you're newly married, you might not be concerned with a school district right now, but you could be in a few years. If you have aging parents, you may want to look at homes that offer living arrangements that could accommodate them as well.

It’s important to think about your new home’s location just as carefully as its features. In addition to considering the distance to work, evaluate what matters to you in terms of services, convenience and accessibility, such as shopping, police and fire protection, medical facilities, school and daycare, traffic and parking, trash and garbage collection, even recreational facilities.

Be sure to talk to your real estate professional about where you want to live and what’s most important to you. While buyers frequently use the Internet to gain access to listings or available properties for sale, an agent brings value to the entire home buying process. He or she is available to analyze data, answer questions, share their professional expertise, and handle all the paperwork and legwork that is involved in any real estate transaction. CENTURY 21® professionals can help their clients narrow their choices by sharing market trends and local information.

TIP: It’s also important to consider the type of home that suits you best. Is it a condominium or a co-op? A townhouse or a detached single-family home? Do you want brick, stone, stucco, wood, vinyl siding, or something else? Do you prefer a new home or an older one?

WHAT CAN YOU AFFORD?

How much home can you afford? Review your income, savings, and debt to figure out how much home you can afford.

How Much Can You Afford?

Now that you know what you're looking for, the next step is figuring out what type of home you can afford. A review of your income, savings, monthly expenses, and debt will be necessary.

Early in the process, you'll want to get pre-qualified for a mortgage loan. It enables you to move swiftly when you find the right home, especially when there are other interested buyers. It also indicates to the seller that you are serious and can afford to buy the property. A pre-approval is a simple calculation done by a mortgage lender that tells you the amount you'll be able to finance through a loan and what your monthly payment will be.

The price you can afford to pay for a home will depend on several factors, such as:

Gross income
The funds you have available for the down payment, closing costs and cash reserves required by the lender
Your debt
Your credit history
The type of mortgage you select
Current interest rates

Another figure that lenders use to evaluate how much you can afford is the housing expense-to-income ratio. It is determined by calculating your projected monthly housing expense, which consists of the principal and interest payment, property tax payments and insurance premiums on your new home loan (also known as PITI).

Each buyer is unique, and a mortgage professional can help you find out just what you can afford. Your income and debts will typically play the biggest roles in determining your price range. It's simple to make an estimate – just run the numbers for yourself using our Affordability Calculator.

YOUR NEIGHBORHOOD?

Evaluating a neighborhood and surrounding areas thoroughly is essential.

When you buy a home, you're investing in a community. You'll spend a significant amount of time and money supporting the schools, community organizations and commercial centers in the area. Before you make the final decision, take a good look at the location and make sure it fits your lifestyle. For example:

· Evaluate the property’s proximity to other important locations in your life. How long will your commute time be? Is there a hospital or doctor's office nearby? What about schools, childcare, shopping, family and friends?

· Consider all of your transportation options. A new home could lend itself to public transportation options or carpooling. Depending on the type of community, you may be able to find alternative methods of transportation. Take the time to drive from the new home to your commuting destinations, to get a sense of what your daily life will be like.

· Make sure you feel comfortable in the area. Drive around the neighborhood at different times of the day and night on multiple days of the week to observe activity and noise levels. An educated buyer is a happy one!

CENTURY 21® real estate professionals are a tremendous resource. Ask your agent for a list of schools, shopping centers, parks or other amenities that are important to you. Buying a new home is about more than the structure and property. It's about your new lifestyle as well.

TIP: Visit and understand the school district. Even if you don't have children in the school system now, you may someday. The district reputation could positively or negatively impact the selling price of your future home as well.

ALREADY HAVE A HOME?

Buying a home while selling an existing home has its own set of considerations; this section provides expert buying advice and can help you navigate these challenges successfully.

What If You Already Have a Home?

Buying a new home and selling an existing home at the same time has its own set of challenges. With knowledgeable planning, you can ensure everything goes smoothly.

Before putting your house on the market or committing to buying a new one, take a look at the prices of houses in the areas where you'll be selling and buying. You'll need a realistic idea of sales prices for similar houses, so you can assess both your buying and selling position.

What if you're unable to time the sale of one house with the purchase of another? You may own no houses for a time, in which case you'll need money in the bank and a temporary place to live. Or, you may own two houses at once. That's why it's important to have a backup plan. Here are some options to consider:

· Research short-term rental and storage options (family, friends, storage facilities, containers).

· Bridge financing (a short-term loan) for the down payment on a new home backed by the equity in your old house.

Buying a Second Home

Buying a second home isn't all that different from buying a first home. Affording it usually depends on your ability to qualify for a mortgage on the second home. Benefits include a getaway for the family on vacations or holidays, a future retirement home, or renters making your mortgage payments for you.

Keep in mind that if you declare it as a rental, your mortgage might be slightly higher and your down payment requirements higher than a standard mortgage. Work with your lender to create a customized loan program with the best combination of rate, points, and closing costs to meet your needs.

TIP: A second home can be a good investment. To make the most of the opportunity, be sure you factor in sources for your down payment and monthly expenses (including the costs of maintaining the property).

The content for this blog is formed http://www.century21.com/buyingadvice .The owner of this blog page is a license Century 21 real estate agent.

Contact: Century 21 Atlanta GA

Fri Oct 07 00:30:00 UTC 2016

Home Improvement Tips

Posted by: Royan Johnson

Making home improvements not only creates beautiful upgrades to your home but can also increase its overall value. Using a Home Equity Line of Credit can be the smartest way to manage the expense associated with making home improvements. The following tips from industry experts offer some of the most cost-effective and valuable enhancements you can make to your home.

Tip #1
Updated homes frequently sell faster. The renovation of dark or dated kitchens is one of the most profitable home improvements you can make.

Tip #2

Time to refinance your mortgage? If interest rates are lower now than when you closed on your current mortgage, you may be able to save money by refinancing.

Tip #3

Updating an old bathroom is one of the most profitable home improvements you can make.

Tip #4

Adding casual living areas like a den or family room is smart home improvement.

Tip #5

Thinking of updating your home with one of these home improvements and wondering how long they generally last?

New chimney: 100 years or more
Asphalt shingles: 15 to 30 years
A wooden deck: 15 years
Ceramic tile or terrazzo: 100 years or more
Vinyl flooring: 20 to 30 years
Oak or pine floors: 100 years

Tip #6
Planning to buy new appliances? Here's how long they generally last.

Refrigerators: up to 20 years
Microwave: 10 years or more
Stove: 15 years or more
Washer and dryer: about 13 years

Tip #7
Adding a second bath to a house can be a significantly profitable home improvement.

Tip #8

it’s true: sometimes you have to spend money to save money. Buying a new refrigerator can save you money on electricity. Insulating an attic can save on heating and air-conditioning bills. The improvements you make not only save you money now but may also increase the value of your home.

What's My Home Worth?

http://www.atlantafinestrealtor.com/tools/marketvalue.aspx

Tue Dec 30 02:20:00 UTC 2008

WHAT IS A HOME INSPECTION?

Posted by: Royan Johnson

A home inspection is an objective visual examination of the physical structure and systems of a home, from the roof to the foundation. Having a home inspected is like giving it a physical checkup. If problems or symptoms are found, the inspector may recommend further evaluation.

WHAT DOES IT INCLUDE? The standard home inspector's report will review the condition of the home's heating system, central air conditioning system (temperature permitting), interior plumbing and electrical systems; the roof, attic, and visible insulation; walls, ceilings, floors, windows, and doors; the foundation, basement, and visible structure.

WHY DO I NEED A HOME INSPECTION?
The purchase of a home is probably the largest single investment you will ever make. You should learn as much as you can about the condition of the property and the need for any major repairs before you buy so that you can minimize unpleasant surprises and difficulties afterward. Of course, a home inspection also points out the positive aspects of a home, as well as the maintenance that will be necessary to keep it in good shape. After the inspection, you will have a much clearer understanding of the property you are about to purchase. If you are already a homeowner, a home inspection may be used to identify problems in the making and to learn preventive measures which might avoid costly future repairs. If you are planning to sell your home, you may wish to have an inspection prior to placing your home on the market. This will give you a better understanding of conditions that may be discovered by the buyer's inspector, and an opportunity to make repairs that will put the house in better selling condition.

WHAT WILL IT COST? The inspection fee for a typical one-family house varies geographically, as does the cost of housing. Similarly, within a given area, the inspection fee may vary depending upon the size of the house, particular features of the house, its age, and possible additional services, such as septic, well, or radon testing. It is a good idea to check local prices on your own. However, do not let cost be a factor in deciding whether or not to have a home inspection, or in the selection of your home inspector. The knowledge gained from an inspection is well worth the cost, and the lowest-priced inspector is not necessarily a bargain. The inspector's qualifications, including his experience, training, and professional affiliations, should be the most important consideration

CAN'T I DO IT MYSELF? Even the most experienced homeowner lacks the knowledge and expertise of a professional home inspector who has inspected hundreds, perhaps thousands, of homes in his or her career. An inspector is familiar with the many elements of home construction, their proper installation, and maintenance. He or she understands how the home's systems and components are intended to function together, as well as how and why they fail.
Above all, most buyers find it very difficult to remain completely objective and unemotional about the house they really want, and this may affect their judgment. For the most accurate information, it is best to obtain an impartial third-party opinion by an expert in the field of home inspection.

CAN A HOUSE FAIL INSPECTION? No, A professional home inspection is an examination of the current condition of your prospective home. It is not an appraisal, which determines market value, or a municipal inspection, which verifies local code compliance. A home inspector, therefore, will not pass or fail a house, but rather describe its physical condition and indicate what may need repair or replacement.

WHEN DO I CALL THE HOME INSPECTOR?
A home inspector is typically contacted right after the contract or purchase agreement has been signed and is often available within a few days. However, before you sign, be sure that there is an inspection clause in the contract, making your purchase obligation contingent upon the findings of a professional home inspection. This clause should specify the terms to which both the buyer and seller are obligated.

DO I HAVE TO BE THERE?
It is not necessary for you to be present for the inspection, but it is recommended. You will be able to observe the inspector and ask questions directly, as you learn about the condition of the home, how its systems work, and how to maintain it. You will also find the written report easier to understand if you've seen the property first-hand through the inspector's eyes.

WHAT IF THE REPORT REVEALS PROBLEMS?
No house is perfect. If the inspector identifies problems, it doesn't necessarily mean you shouldn't buy the house, only that you will know in advance what to expect. A seller may adjust the purchase price or contract terms if major problems are found. If your budget is tight, or if you don't wish to become involved in future repair work, this information will be extremely important to you.

IF THE HOUSE PROVES TO BE IN GOOD CONDITION, DID I REALLY NEED AN INSPECTION?Definitely। Now you can complete your home purchase with your eyes open as to the condition of the property and all its equipment and systems. You will also have learned many things about your new home from the inspector's written report and will want to keep that information for future reference.

http://www.atlantafinestrealtor.com

Fri Sep 19 19:11:00 UTC 2008

10 Questions You Should Ask Your Lender.

Posted by: Royan Johnson

Questions You Should Ask Your Lender.

1. What Types Of Mortgages Does Your Lender Offer?
Most mortgage companies offer a wide array of loan options to fit various situations. Tow most common loan types are fixed-rate and adjustable-rate mortgages (ARMs).

A fixed-rate mortgage interest rate and principal payment remain constant for the life of the loan. Since the interest never changes during the life of the loan, the borrower can always budget for a mortgage payment. (Keep in mind that Insurance and Taxes are adjustable annually if the borrower is escrow they may see a slight adjustment in their mortgage payments due to these annual adjustments). A fixed-rate mortgage is the best option especially if the borrower is planning to stay in the home for a while (5 years or more).

With the ARMs, the interest rate and your payments are adjusted upon down periodically as the market index changes. The rate usually is adjusted between three months and five years. ARMs are usually protected by caps that limit how much the interest rate adjusted up the first time, and each successive time or overall. This option is good in you are getting a mortgage at a time when the rate is high or if you are planning to sell before the first adjustment period.

2. What Is the Interest and Annual Percentage Rate (APR)?The interest rate used to calculate your total cost over the life of the loan and the amount of your monthly payment. (The higher your interest rate the more your monthly payment will be). The APR is derived by calculation that includes the interest rate and all the other related lender fees divided by the loan term.

3. What Are the Discount Points and Origination Fees? Each point equals 1% of the loan amount. Therefore 1 point on a $200,000 loan cost $ 2,000. Points are a way to buy down the interest rate. The more points you pay the lower your interest rate. Landers may have some restrictions on points buy down. Points are tax-deductible, no matter who pays for them. The longer you plan to stay in the home the more it worth it to pay for discount points.

4. What Are The Closing Costs?

Closing costs are fees included in your loan, usually, include charges for credit reports deed search and more. Your lender is required by law to provide a good faith estimate of your loan’s closing costs within three days of receiving your application. Your mortgage consultant should explain the purpose of all the fees Your Real Estate Professional should try to have the seller pay some of these closing costs on your behalf.

5. What Are Rate Locks and When Can You Take Advantage Of Them? Interest rates fluctuate daily. Think about locking in the interest rate if interest rates are rising. Licking in the interest rate is usually good for 30 to 45 days while you search for the right home. Lock in the interest rate on the application, not an approval. So if the rate goes up between the time you applied and the time you are approved you will not have to pay the higher rate.

6. What Is The Minimum Required Down Payment? The down payment determines the loan’s rate and term. The minimum down payment is the lowest amount of money you can put down on your home; this is expressed as a percentage of the property’s value. Required down payment usually range from 3%-20%. A 3% down payment requires 97% financing, with a 5% down payment 95% will be financed. The larger the down the lower the principal and monthly payments. Larger down payment usually enables you to obtain a lower interest rate. Down payment, less than 20% requires you to have mortgage insurance (PMI).

7. Is There A Prepayment Penalty? Sometimes if you pay off your mortgage early you could be charged a prepayment penalty. The penalties usually are as much as 3% of the loan balance or the equivalent of six month’s interest. Often, prepayment penalties decline or disappear over time. Sometimes you may be able to secure a better interest rate if you agree to a prepayment loan. You may want to think twice before you agree to a loan with a prepayment penalty. Most borrowers do not stay in the home for the life of the loan. They usually refinance or sell the home.

8. How Long Will It Take To Close My Loan? Closing time may vary from about 2-6 weeks, depending on how long it takes to assess your documentation and check your credit. Try to submit your application far enough in advance to ensure funding for your loan. Talk to your real estate agent about allow the maximum time (6 weeks) for closing when you find the home you want to purchase. This will give your loan processor more time to work on your loan. If the loan processor is done before the maximum time, ask your agent to request a change of closing date so you can close earlier.

9. What Might Delay My Loan Application? Avoid potential delays by making sure your application is complete, correct and legible. Provide all the supporting documentation needed so; your loan processor will have all the necessary information to proceed with the processing of your loan.

10. What Are The Documentations Do I Need? Some of the documentation that you need is your name and contact information of your current employer, proof of income, social security number, bank statements, and any assets you have. Your loan officer should provide you with a checklist of all the documentation you will need for the loan to be processed.

Finance Tools!

visit: ATLANTA HOMES FOR SALE for all your Georgia real estate needs.

Sat Aug 02 00:41:00 UTC 2008

How Does Short Sales Work

Posted by: Royan Johnson

The short sale is simple in theory. You owe more than the home is worth or you can no longer pay the mortgage payments so in order to sell without bringing money to the table yourself you must convince the bank that you have financial hardship and cannot make the payments. The bank may then agree to take a lower payoff than the total loan amount. Example: if you owe $350,000 but can only sell for $300,000 then the bank will be "forgiving" $50,000 in debt. But, at least you've sold the home and avoided foreclosure. In practice, the short sale usually isn't that simple. There is a lot of work that needs to be done. A short sale package must be put together to show bank hardship, inability to pay, the homes value, repairs, net to the bank after-sale, etc. It will be the bank's decision whether or not to accept or reject an offer. The bank will have the final say over any offer you accept because the offer will be less than your loan payoff. Banks can take their time with a decision but I think that many banks will be speeding up the process as time goes on and they get their loss mitigation departments up to speed. If you are able to make your mortgage payments you probably should. However, the bank will usually not consider a short sale as an option until you've already missed a couple payments. But, those missed payments will show up as late payments on your credit report so, the fewer there are the better. Before putting your house on the market have your agent check what other properties are SELLING for in your area (In other words make sure your agent does a Market analysis for your area). Not what they are "on the market" for but selling for. Start there and lower your price quickly until you get an offer. Remember you are under a time constraint if you want to avoid foreclosure. The key thing is to get an offer. Once you have one you'll at least have something to work with even if it is low. Keep in mind that a short sale will have less of a negative impact than a foreclosure will on your credit. The consensus is that a short sale will cost you around 100 points on your credit score while a foreclosure will cost you 200-280 points and stay on your credit report much longer. So, pursue the short sale aggressively to avoid a foreclosure. Another thing you should be aware of is the tax consequences. You may end up owing taxes on the amount of debt that is forgiven. There are ways you may be able to avoid the tax. If you can show you were insolvent at the time of the sale then the IRS may exclude the debt forgiveness from taxation. Take a look at section 108 of the IRS Code and form 982. You might want to consult with an attorney or accountant that is familiar with the process because it could end up saving you on your taxes.

How to Write a Short Sale Hardship Letter

_____________________________________________________
The Hardship Letter is part of the short sale package and is written by the seller or their representative. It is used to explain to the lender the reasons for the borrower's need for a short sale. Reasons such as divorce, job loss, medical issues, etc. can and should be included. Usually just a one page letter with the pertinent information will suffice.

A simple letter in the following form should suffice:

DateLender NameAddressLoan NumberDear Sir/Mama,{In this section explain your hardship and why you must utilize a short sale - some example hardship reasons are listed below}

Unemployment
Reduced Income
Divorce
Medical Bills
Too Much Debt
Death of my Spouse
Death of a family member
Payment Increase
Business Failure
Job Relocation
Illness
Damage to Property
Military Service
Other (Please Specify)

Borrower’s SignatureDateCo-Borrower’s SignatureDate

Please contact CENTURY 21 ATLANTA GA Real Estate agent for more details.

Mon Nov 05 16:16:00 UTC 2007

More than Money: Considerations for Rent vs Buy

Posted by: Royan Johnson

While being a homeowner is the quintessential American dream, finding the right time to buy can be a challenge. Owning a home is likely the largest investment a person makes in their lifetime. Performing a "Rent vs Buy" analysis looks at not only the financial factors involved but the overall value of homeownership versus renting.

With so many factors going into a home purchase: finances, lifestyle, employment, and personal goals, it's critical to run the necessary due diligence. Every potential homeowner should run a buying versus renting analysis to determine if the time to buy is now, or if renting is a more prudent decision. Here are the factors to consider when running a buy versus rent analysis:

Can You Afford It? A Cost Comparison

This question is a bit more complex than it might seem. Often, potential buyers stack the mortgage payment alongside the monthly rent and consider the comparison complete. But buyer beware: there are many overlooked costs associated with homeownership. Financing, homeowner fees, property taxes, repairs, and maintenance can add up quickly. On the other hand, mortgage interest on both first and second homes is tax-deductible which makes homeownership one of the best ways to trim your tax bill.

In today's market, shopping around for a competitive interest rate is necessary for solid financing that works with your budget. What you can afford will be greatly impacted by how much money you can borrow, and at what rate you are borrowing. One thing to keep in mind is that like most markets, the mortgage market is very dynamic.

Good credit and a low debt to income ratio will help to secure a lower rate and make the cost of borrowing less in the long run. A good mortgage broker or loan officer can be a great help to a prospective borrower. If a borrower is financially savvy, they could also shop around for the best rates themselves. Anyone with a less than stellar FICO score (680-700 and above is generally considered excellent) could be lumped into what is known as the subprime mortgage category. If they cannot provide full documentation of their income and/or assets and have less than stellar credit, then they will almost certainly be categorized as subprime. First time home buyers sometimes fall in because they haven't established credit. People with existing mortgages who have had late mortgage payments in the past or bankruptcy might also be subprime. The easiest way for someone to find out where they stand, in regards to credit, is to run a credit report. There are many different services on the web where this can be done for free, or consult a mortgage broker who can run a credit report and advise accordingly.

Not all types of property are created equal. Condominiums, townhomes, and other complex-style dwellings often carry homeowner dues that range anywhere from under $100.00 to several hundred dollars a month. These fees are imposed by the homeowner's association for upkeep of common grounds, gym, pool and laundry facilities, and other community maintenance. Knowing these fees and what they include is essential to the final assessment of your monthly payment.

Property taxes too are a factor in determining what your monthly payment as a homeowner will be. Often, loans will have an automatic impound account embedded within the loan which will raise the monthly mortgage, but make this bi-yearly bill automatically accounted for. Taxes are determined by the type of property, property value and location.

One of the least considered factors in homeownership is both financial and emotional: the cost of repairs and maintenance. Bad wiring, plumbing, termites, shifted foundation: these are all the bane of a new homeowner's existence. Having a reputable housing inspector go over a prospective property can assist in determining the quality of the structure and help assess the need for repairs. Other overlooked costs include closing costs, which are usually about 1% of the total property value. On a $400,000 loan, these are numbers that cannot be ignored in the final analysis.

In spite of these costs, it may be advantageous to buy versus rent, depending on the rate of increase in your rent annually. If rent increases at 5% per year the inflation might overrun a mortgage and its associated costs.

Homeownership

For many, buying a place to call your own is the ultimate financial goal. The nonfinancial value and personal sense of community a homeowner wins is a certain type of satisfaction. There too, are tangible freedoms such as the ability to change the decor or the structure of your home without a landlord's prior approval.

The actual value of non-financial factors will vary greatly. Lifestyle and personal preference will weight heavily in deciding not only when the right time to buy is, but also what type of property. If you are a young, unmarried executive who travels 50% of the time, owning an apartment in Manhattan might be better than a ranch in Montana. Family size, occupation, need for security: these are all tangible factors that weigh into the final decision of buying versus renting.

There are still, other considerations. As a homeowner, you are your own landlord. Repairs, maintenance,

and community issues are all the responsibility of the homeowner. If you are someone who prefers less responsibility and greater ease to move, buying investment property rather than a home to live in might be a better choice.

Regardless of the final decision, it is important to carefully examine your options when looking at buying or renting a home. Consulting a reputable mortgage broker in your area is the first step.

URL: http://www.atlantafinestrealtor.com

Tue Sep 25 01:09:00 UTC 2007

What Do We Do Now?

Posted by: Royan Johnson

Last month’s article wasn’t meant to frighten anyone. It was simply my way of letting you know what the heck is going on in the mortgage industry and what got the market in the situation we’re in these days.

Let me set the tone for this article by mentioning a few things from last month’s: “The market is correcting itself.” “It’s just in a slump.” “Guidelines are changing.” “The industry will always find ways to make home-buying affordable.”

Many of you probably ask how can there be options. I personally think things will get back to normal sooner than most think because my idea of normal goes back much farther than anyone who has been in the housing market within the past 5 years as a homeowner, realtor, investor or mortgage loan officer. When I got into this business in 1982, 30 year fixed rate mortgage interest rates commonly were in the double digits (something we won’t see). You had to put 10–20 percent down, and pulling equity out of your home was taboo

what we see today is a result of the industry being too creative and too greedy. In order for things to get back to some sense of normalcy, the industry will return to a conservative and responsible position. Since last month’s article, we’ve seen several more mortgage companies go out of business, many of which you don’t read or hear about because their roles in the business were to pass loans through the system directly to the bigger companies. These companies had very little history in the industry; therefore they won’t be missed because they only made it easier for the bigger banks and lenders to put closed loans on the books a lot faster. I think banks and lenders will go back to doing more business with companies like 1st Commitment Mortgage Services because we keep a pulse on what’s going on in our communities.

THESE WILL BE YOUR OPTIONS

more broker business from fewer brokers

Basically, this means mortgage brokers will be relied on to originate more business for realtors, lenders, and banks because the experienced mortgage broker knows its markets. We are an extension of lenders’ sales staff and our overhead is much less than those Pass-Through-Lenders.

More basic loan programs (i.e. fixed rate)
The subprime business first hit the market in the mid-1990s and it was downhill ever since। We will fix this problem by going back to the basics—fixed-rate programs because they are the safest program. Interest Only, Option ARM loans and other Exotic loan programs were never meant for first-time homebuyers and many homeowners with these programs are wishing they had a standard fixed-rate loan.

Improved credit and credit score requirement
Credit will become the most important factor in extending credit like it used to be People will have to show their creditworthiness by having a history of good credit. An option to improve one’s credit will be the use of credit score improvement programs such as the “Rapid Rescore.” This system will improve scores immediately after satisfying derogatory credit. There’s normally a cost of a couple hundred dollars for this service.

FHA and VA will recapture more of the market share
FHA and VA will definitely re-capture most of its market share during these times because they have withstood almost every storm. FHA released an initiative last week that will refinance subprime ARM mortgages. The homeowner’s mortgage history must show on time mortgages payments before their mortgage rates went up. Contact your Century 21 Atlanta, GA to speak to an FHA certified loan officer.

More down payment required on Conventional Loans
I remember when everyone had to put money down when buying their home This requirement will return because history shows that homes purchased with down payment have a lower default and foreclosure rate The belief is when an investment is made by the homeowner they tend to respect their investment.

More documentation
The No Doc, Stated Income, Stated Asset and Bank Statement type loans are gone or severely modified many of these programs created a wave of misuse and abuse in the mortgage industry because people found ways of pushing the envelope. These programs were created for self-employed persons who made the income but wrote a lot off of their taxes. Therefore, we will go back to having almost everyone document their income and assets when buying or refinancing their home.

More use of Automated Underwriting Systems for approval
Automation to the rescue. Many of my clients have been rewarded with the use of our automated underwriting system that will basically look at their complete profile and determine their creditworthiness.

Percy Blackshear, III President 1st Commitment Mortgage Services, Inc.

1st Commitment Mortgage Services, Inc. is a Georgia Residential Mortgage Licensee, License Number 19155.

To find your dream home in Atlanta visit Century 21 Atlanta, GA

Sat Sep 15 00:50:00 UTC 2007

How to Buy HUD Homes

Posted by: Royan Johnson

HUD sells properties at reduced prices that you might want to buy!

What is a "HUD Home"?
When someone with a HUD-insured mortgage can't meet the payments, the lender forecloses on the home; HUD pays the lender what is owed, and HUD takes ownership of the home। Then sell it at market value as quickly as possible

Frequently Asked Questions About HUD Homes

Who can buy a HUD home?
Answer: Anyone! If you have the cash or can qualify for a mortgage, you can purchase a HUD home.

Are HUD Homes meant for people with low incomes?

Answer: HUD homes range in price, but most are affordable for low-and moderate-income Americans.

Is it true I can get a HUD Home for a dollar? Answer: No. HUD sells homes at market value - that means that the price is set based on the price of similar homes sold in the area.

If the HUD Home needs repairs, will HUD make them?
Answer: HUD Homes are sold "as-is," without warranty. That means that HUD will not pay to correct any problems. But even if a HUD Home needs fixing up - and not all of them do - it can be a real bargain! For example, HUD's asking price on the home will reflect the fact that the buyer will have to invest money to make improvements. HUD might offer special incentives such as an allowance to upgrade the property, a moving expense allowance, or a bonus for closing the sale early. And keep in mind that on most sales, the buyer can request HUD to pay all or a portion of the financing and closing costs. Your real estate agent will have details. HUD encourages you to get the home professionally inspected before you make an offer so you will know what repairs you may have to make BEFORE you submit your bid.

How do I buy a HUD home?
Answer: Start by finding a participating real estate agent. Your real estate agent must submit your bid for you. Normally, HUD Homes are sold in an "Offer Period." At the end of the Offer Period, all offers are opened and, basically, the highest bid is accepted. If the home isn't sold in the initial Offer Period, you can submit a bid any business day. If your bid is acceptable to HUD, your real estate agent will be notified, usually within 48 hours.

If my bid is accepted, then what happens?

Answer: Your real estate agent will help you through the paperwork process. You'll be given a settlement date, normally within 30-60 days, where the transaction will occur. HUD has an excellent booklet to help you understand the settlement process: "Buying Your Home - Settlement Costs and Helpful Information." Or contact royan@c21intown.com to have a copy e-mailed to you.
When you buy a HUD Home, the selling agent's commissions are usually paid by HUD. HUD will pay a total sales commission of up to 6%.

How can I find out what HUD Homes are for sale?

Answer: Visit HUD Homes for sale or email http://www.atlantafinestrealtor.com/ every day। If you see one that interests you, contact one of the real estate agents in your area who show HUD homes. They can help you from there.

How can I get a loan to buy a HUD Home?
Answer: HUD doesn't make loans directly. HUD has a number of mortgage insurance programs that could help you buy a home. You can read about those programs here. Then contact a HUD-approved lender, who will take you through the steps and actually make the loan.

Can I buy a HUD Home as an investment?
Answer: Most HUD Homes are initially offered on a priority basis to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period, unsold properties are then available to all buyers, including investors.

Is there anything else I should know about HUD Homes?

Answer: Every homebuyer and homeowner is encouraged to be a wise consumer, so be sure to read Consumer Information. Houses built before 1977 may have lead-based paint, which can cause harm to your family; so be sure to read about this hazard and about what you would need to do to correct it.

Attention: Nonprofits and Government Agencies! HUD has a special sales program under which approved nonprofit organizations and government agencies may purchase properties at discounted prices for use in local housing or homeless programs। Contact the local HUD office Or royan@c21intown.com for details.

URL http://www.atlantafinestrealtor.com/

Sat Sep 08 17:36:00 UTC 2007

WHAT TO EXPECT AT CLOSING

Posted by: Royan Johnson

In an instance where the real estate transaction is a cash deal (cash closing)। The transaction can be consummated by executing a handful of documents such as a Settlement Statement, Seller’s and Purchaser’s Affidavits, and Transfer Tax Form। However: a transaction which the buyer takes out a mortgage can require execution of many more documents. These documents will be prepared by the closing attorney’s office and Lender. The documents furnished by the Lender will include Federal, State, and a host of others ranging forms including various affidavits to taxes. The following is a list of typical documents found in a loan package at the closing. Keep in mind that that this list is not conclusive. Each loan is unique. So, documents may vary somewhat according to the type of loan a buyer is getting.

Pertain to the buyer(s)

HUD-1 Settlement Statement: Developed by the U.S. Department of Housing and Urban Development, this document itemizes the services provided, fees, and charges associated with closing the loan. A buyer should request a copy of the HUD-1 Settlement Statement at least 24 hours prior to closing. The copy of the HUD1 a buyer received prior to closing is will call a good faith estimate and may be chanced slightly at closing

GRMA Disclosure
Required by the State of Georgia as a disclosure to the Borrower(s) that failure to comply with terms and conditions of the loan could result in foreclosure against the subject property

Representation Disclosure
Informs the Borrower(s) that the Closing Attorney’s Office represents the Lender/Investor and not the Purchaser(s) or Seller(s)

Corrections/Errors and Omissions/Compliance Agreement
Agreement by Borrower to cooperate with Lender and Settlement Agent in correcting typographical or clerical errors in any mortgage documents.

Truth-In-Lending Disclosure
Discloses the “annual percentage rate” (APR) reflecting the cost of the mortgage loan as a yearly rate. This rate will probably be higher than the rate stated on the Note because the APR includes, in addition to interest, loan discount points, fees, and other credit costs. Additional information is also provided, such as finance charges, schedule of payments, late payment penalties, and whether or not there is any penalty for early payoff of the loan.

Escrow Account Statement
Federal law required disclosure on every residential mortgage loan with escrow accounts for payment of future taxes and insurance reflects anticipated receipt and disbursement of escrow funds over the next (12) twelve months from the loan origination date.

Borrower’s Certification and Authorization
Borrower’s certification that all information he/she provided to the Lender in association with the mortgage loan was true and correct and authorizing Lender to re-verify credit information.

Promissory Note
An instrument the Borrower(s) sign which contains an unconditional promise to pay, on-demand or at a fixed or determined future time, a particular sum of money to the Lender, a specified person, or the bearer of the Promissory Note. This document will outline the basic terms of the loan including names of Borrower and Lender, Interest Rate, Loan Amount, and period of repayment. First Payment/Coupon LetterLenders must provide a temporary coupon for the Borrower(s) to make their initial mortgage payment in case the coupon payment booklet is not received in time for such payment.

Waiver of Borrower’s Right
Acknowledges the Borrower’s signed with the understanding that failure to meet the terms and conditions of the mortgage loan could result in foreclosure upon the collateral property and that this procedure is non-judicial in Georgia. (Check to see if your state is non-judicial or not.)Security DeedUsually signed the same time the Promissory Note is created. The Security Deed gives the Lender a "security interest" in property or real estate, providing the Lender the opportunity to seize the property in the event of default by the Borrower.RidersAttached to the Security Deed and in certain circumstances: For example, A Planned Unit Development Rider where the subject property is located in an area with covenants providing for mandatory assessments (e.g. Homeowner Association fees) or an Adjustable Rate Rider for Adjustable Rate mortgage loans.Survey/Termite Waivers or Hold Harmless FormsThese are included based on the requirements of the given transaction. In some instances, mostly Refinances and Second Mortgages, Surveys and Termite Inspections are not required and thereby “waived.” In cases where Surveys and Termite Inspections are required, the closing package will include a “hold harmless” agreement which serves as notice to the Borrower(s) that such services were provided by an independent contractor.IRS Form W-9Used by the Lenders as verification of Borrower’s Social Security Number and for reporting interest deduction by the Lender to the IRS.

IRS Forms 4506/8821Forms Authorizes the Lender to request a copy of the Borrower(s) income tax return directly from the IRS.

Occupancy/Employment Affidavits
Certify that the Borrower(s) intend to occupy the subject property as a principal residence and that his/her employment status has not changed since loan application. Flood InsuranceThe Flood Protection Act of 1973 (Public Law 93-234) requires the purchase of flood insurance in certain flood-prone areas as designated by the Department of Housing and Urban Development. Therefore, Borrower(s) must purchase such insurance if the property is located in an area where flood insurance is required.

Notice of Right of RescissionIs used in case of Refinance and Second Mortgages, but not when the property is subject to a sale. The notice of Right of Rescission gives the Borrower(s) the right under Federal Law to cancel the transaction, without cost, within three business days.

Pertain to Seller
Seller’s Affidavit of Seller’s Affidavit of Residence

Verifies the Seller(s) is not subject to the State of Georgia Capital Gains Tax withholding requirements.

Seller’s Certificate of Exemption
Used in conjunction with the affidavit if Seller is not a resident of the State of Georgia, Verifies Seller’s exemption from State of Georgia Capital Gains Tax withholding.Owner’s AffidavitAffidavit of Seller(s) certifying that the property is conveyed “free and clear” of any liens, claims or judgments.

Warranty Deed
The Instrument that conveying title to real property from Seller(s) to Purchaser(s)

URL:http://atlantafinestrealtor.com/

Find my ideal home!

Sun Aug 05 01:08:00 UTC 2007

The Path to Homeownership

Posted by: Royan Johnson

When asked what their top ten greatest achievements are, many people say owning their own home is number one. Homeownership represents the American dream to many. It signifies a leave of success, a level of financial security, and independence.

For those starting out, however, the path to homeownership can seem like a long journey. The Sale price of their desired home combined with interest rates, taxes, and homeowner’s insurance can make it seem like a dream that may never be achieved. The key to making homeownership a reality is to deal with the numbers at hand.

Start with analyzing your finances. This will help you determine how much home you can afford or how much you need to save for the home. Examine your income and all your monthly expenses. Check out your credit score and make initial inquiries into obtaining a mortgage. However: be careful too many repeated requests for your credit score and duplicate loan requests can negatively impact your appeal to creditors over time, so try not to have too many inquiries.

Property Search.

Next, find out if there are or any state or federal government aid programs that could help you achieve your goal. Many states have first-time home-buyer programs that can help you understand the home buying process and develop a game plan for managing your finances.

Finally, put a plan into action. Start improving your credit by consolidating some of your debts and making consistent payments credit cards and other debts. Control your spending habits so that you will have more money saved for a down payment and expenses such as closing costs, taxes, and moving. Do your research on what mortgage programs are available at the same time. Educate yourself about mortgage rates and all the different terms. Always remember, that shopping for a loan is a lot like shopping for a new car. The more you know about the products and the different competitors, the better able you are to negotiate a favorable deal for yourself.

URL: http://www.atlantafinestrealtor.com/

Sat Aug 04 23:32:00 UTC 2007

Guide to home buying

Posted by: Royan Johnson

Buying a home?

Step 1: Defining What You WantStart by creating a prioritized list of features you want in your next home and the reasons why. Use it as your search guide, but remember that depending on your funding, you will probably need to make some compromises. In addition, talk to us about where you want to live. Location is a huge part of any move. Your real estate agents are trained to help our clients narrow down their choices by sharing market trends and local information like neighborhood statistics and community links.

Step 2: Figuring Out What You Can AffordNow that you know what you want, it's time to see what you can afford. You can start by crunching the numbers yourself using our selection of calculators. When you're ready to move to the next step, you can get pre-approved for a mortgage. This process can often be performed in under an hour and it accomplishes two important goals. First, it will tell you how much house you can afford and what your monthly payments would be. Second, it tells the seller that you can afford to buy their home.
By definition, a pre-approved buyer has an approved mortgage subject to an appraisal of the property. Many times a buyer can use this pre-approved status as leverage during the negotiation process.

Step 3: Shopping For Homes
Once you know what community you'd like to live in and have an idea of how much house you can afford, its time to start checking out actual properties. Beginning this search by contacting a real estate agent who can help save you time by target homes that meet your criteria. You can also visit real estate web sites to see a list of available properties listed in the areas you desired.
Next, begin visiting homes in person. Ask your Century21 real estate professional to arrange visits and attend open houses that are in your target area and price range. When you are comparing homes, make sure to look at all aspects of the property. Is the property tax approximately the same? Are both the houses renovated? Do they both have the same amount of bedrooms and bathrooms? Are both houses located on the same or similar streets? Does either house have any encumbrances? Remember to keep an open mind when you are looking at homes. Use a virtual home planner to help you imagine what the house could become with you as the owner.

Step 4: Making An Offer
Once you find the home you want, you need to make an offer for the house. Typically this is a very difficult and trying time since both parties have totally different goals. In most cases, it is better to have a third party, such as a real estate professional, negotiate the offer. If you have any personal interaction with the homeowner, don't give out any information about your move, your current housing status, financial status or your feelings about their property - positive or negative. This could hurt you in future negotiations. This might also be a good time to consider purchasing a home protection plan. These insurance policies can be purchased by the buyer or seller and help protect against unexpected costs or home repairs during the listing period or in the initial years after a home has been purchased.

Step 5: Inspection & Insurance
After your offer is accepted you will need to set up, coordinate and interpret various inspections, including insect, radon, building quality, oil tank, title, etc. You will also need to arrange for homeowners' insurance and finalize the mortgage. This is a major step in the buying process and there are many potential problems that can be discovered during this period. These include a leaky roof, radon gas, termite damage, a foundation problem, and wall cracks, to name a few. These problems happen all the time. The difference between closing on your dream home and starting the process all over again is what occurs during the negotiations between you and the seller. Your Century21 Real Estate Professional can help make these discussions go more smoothly. In most states, you will also have the option of a "walk through" before the closing. This is your last chance to make sure that all of the items that you have agreed upon were completed to your satisfaction.

Step 6: The Final Closing
Before you arrive at the closing, make sure all the necessary paperwork and deposits have been completed. If the mortgage, title work, homeowners insurance, and other items necessary under local and state laws are not completed and brought to the closing table, the closing may not happen on time. And, depending on what the contract says, this could result in further action including financial penalties and even the loss of your rights to the home. Once you close, its official - you own the house! But there might be a few things you want to do before you lay out the welcome mat. These include arranging for an alarm system, turning on the electricity, subscribing to the local paper, cleaning or replacing the carpet, arranging for lawn services, etc. This could also be a good time to make some needed renovations. Be sure to turn to your real estate professional for guidance and information about many money-saving offers available to you!

URL: http://www.atlantafinestrealtor.com/

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6 Perks to Working with a Realtor

Find a home visit Century 21 Atlanta GA

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FIND A HOME

National Home Search

9 Ways to Curb Stress When Selling your Home

Crucial facts about FHA loans

National Home Search

IMPROTANT THINGS YOU NEED TO KNOW WHEN BUYING A HOME

Security Tips to Keep Your Home Safe and Your Family Protected!

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Avoid These Common First-Time Home Buyer Mistakes

HOME BUYING ADVICE

Home Improvement Tips

What's My Home Worth?

WHAT IS A HOME INSPECTION?

10 Questions You Should Ask Your Lender.

How Does Short Sales Work

More than Money: Considerations for Rent vs Buy

What Do We Do Now?

How to Buy HUD Homes

WHAT TO EXPECT AT CLOSING

The Path to Homeownership

Guide to home buying

Buying a home?