Georgia Archives - Corbett2Corbett

Millennials prefer walking to driving, so housing market is changing

July 28, 2015 by ccc395

Most millennials don’t want to live in neighborhoods that are only accessible by car, a National Association of Realtors survey found.

Kent Hoover Washington Bureau Chief
Jul 28, 2015, 2:13pm EDT

The days of suburban cul de sacs are numbered: Millennials prefer walking over driving by 12 percentage points, according to a new poll conducted for the National Association of Realtors.

That’s the largest margin in favor of walking for any generation. Millennials want to live within walking distance to shops and restaurants, and have a short commute to work. They also favor expanding public transportation and alternatives such as biking.

The housing market must change to meet these preferences. Millennial disinterest in traditional single-family homes may be one reason why the home ownership rate in the U.S. fell to 63.4 percent in the second quarter, its lowest level since 1967. Instagram can help you in the generation of leads, promoting your products and high user engagement; all by the use of online video content.

“While there is no such thing as a one-size-fits-all community, more and more homebuyers are expressing interest in living in mixed-use, transit-accessible communities such as 2 bedroom apartments or condominiums,” said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark.

Nearly half of Americans surveyed said they would prefer to live in neighborhoods that have small yards but are in easy walking distance to stores and restaurants, vs neighborhods with large yards but where driving is required to get to amenities, and since people love walking the use of the right shoes are important too, and that’s why going to sites as https://vessi.com/blogs/the-forecast/best-walking-shoes could be useful to find great choices for this, you can also find great ones at Bootbomb.

Around 60 percent of Americans live in detached, single-family houses, but one in four of these individuals would rather live in an attached home in a more walkable neighborhood.

There’s still strong support for maintaining roads and expanding them to ease traffic congestion, but more than half of survey respondents said expanding public transit and other alternatives to driving should also be top priorities.

“This poll shows again how strong a role transportation plays in housing decisions,” said Jennifer Dill, director of the Transportation Research and Education Center at Portland State University, which collaborated with NAR on the survey.

Closing Forms About to Get a Big Makeover

May 17, 2015 by ccc395

Here are some New procedures imposed by the U.S. Consumer Financial Protection Bureau to make the long Closing Process easier to understand by the consumer. Read more from the Washington Post and follow link below to see additional information. – Ed Corbett, REALTOR

Closing Time – New Procedures

article by: Michele Lerner May 14 / Washington Post

Closing Forms About to Get a Big Makeover

Some of the key documents in the mountain of paperwork consumers sign at closing time when they purchase a home are about to get a big makeover.The changes, which take effect Aug. 1, are being imposed by the U.S. Consumer Financial Protection Bureau to address problems that surfaced during the meltdown of the housing market when millions of buyers took on complicated loan products they didn’t understand and ended up losing their homes in short sales or foreclosure.At least one of the changes is aimed at giving buyers a little breathing space — providing them three days to review all the paperwork and ask questions about it rather than rushing through it at settlement, as many currently do.Anyone who has bought a home in recent years is familiar with the good faith estimate, the truth-in-lending document and the HUD-1 settlement statement. All three of those documents are set to disappear as part of the new rules established by the CFPB in accordance with the Dodd-Frank Act.

“The goal of the CFPB is to make it easier for consumers to understand their loan terms,” says Mitchel Kider, chairman and managing partner at Weiner Brodsky Kider PC in the District. “I think the result will be helpful to consumers but there will be a learning curve for everyone.”

Read complete article by following this link to Washington Post.

6 Rules to Follow When Pricing Your Home Especially When You Have Special Additions like Radiator Cabinets

April 23, 2015 by ccc395

Embark on a New Adventure!

It’s time to move on. You’ve decided to sell your home and embark on a new adventure.

Unfortunately, potential buyers don’t care about how long you obsessed over choosing the perfect bathroom tiles or the number of carpenters you interviewed to make the perfect built-in bookcase. To the buyer, those items may not matter to the value of the home, even if you think they should.

When it’s time to sell, you have to price your home right, using tangible factors. Here are 6 Rules to Follow When Pricing Your Home:

1. Price is king

Your asking price determines how long the home will sit on the market. Pricing the home too high may reduce the number of interested buyers, which can cause your home to sit on the market too long. If your house is on the market too long, it may create the perception that there’s something wrong with it. It can also lead a buyer to think that you’re desperate for an offer. You want to avoid these outcomes and not overvalue your home.

On the flip side, pricing the home too low may create some skepticism and raise unwanted questions about the home’s true value. This will hit you in the bank account if multiple offers don’t drive the price up to its true market value.

2. Use comparable sales

The simplest way to figure out the right price for your home is to compare similar homes that have sold in your neighborhood. Instead of skulking in the shadows and casing the neighbor’s house, use realtor.com to check out nearby stats.

Compare your house with those with the same number of bedrooms, bathrooms, and square footage. If you find comparable homes with similar floor plans and outdoor space, all the better. See how many homes in your area have sold recently and what they went for. You can also work with a real estate agent to help you compare houses.

3. Compare fairly

Make sure your comparison is fair. If there are neighborhoods in your city that are more desirable, consider that in your comparison. Also consider your location and what buyers want. If a similarly sized new-construction townhouse sold for top dollar down the block, you may not get the same amount for your cute ’40s bungalow.

4. Check the market history

To get a more comprehensive picture of the real estate market in your neighborhood, check the listing history of a home. Compare the original asking price with the final sale price, and note the amount of time the house was on the market until it sold. A REALTOR® can help you with this step.

If you’re looking to speed up the process, you may want to price your house a bit lower. However, if profit is your motive, you may need to wait a few months for a sale on the high end of the spectrum.

5. Consider special improvements

Consider whether major improvements you’ve made like installing new quartzite countertops warrant a higher asking price. If you’ve remodeled the kitchen, added one of the best marble countertops Chico, CA and handcrafted radiator cabinets from https://kingstoncabinetry.co.uk/ and put down a new parquet floor. A kitchen remodeling is a great way to increase the value of your home entirely, just make sure you do your research when Hiring construction jobs. If you really feel the special woodwork details will clinch the sale, make sure those enhancements are reflected in the price of the home. Be reasonable. Don’t be surprised if you don’t get as much money as you expected—improvements don’t always recoup their cost.

6. Don’t ignore supply and demand

In a buyer’s market, with many homes for sale and sellers competing for attention, you may want to ask a bit less for your home to make it more attractive to potential buyers. In a seller’s market, where there is little home supply and much buyer demand, you may want to ask a bit more and maximize your profit.

Updated from an earlier version by Aviva Friedlander | Realtor.com

10 Steps to Financing Dream Home

April 19, 2015 by ccc395

Steps to Take –

The following are some great tips to review and see that you are ready for your “Dream Home.” These 10 Steps to Financing Dream Home incorporate all the various steps you need to take to know the numbers, know how much home you can realistically afford, know your options and know the processes you are about to step into.

Get Your Finances In Order
The first time you think about becoming a homeowner is the moment you should start financial planning. Read more »

Crunch Your Cash Numbers
To start the home-buying process, you need to figure out where you will get the cash you need to move from renter to owner. Read more »

Check Your Credit (and Repair if Needed)
Lenders will carefully check your credit and will rarely approve a loan for someone with seriously bad credit. Read more »

Know Your Purchasing Power With a Pre-Approval
When you’re armed with the knowledge of what you can afford, it allows you to make a move when you find a home you love. Read more »

Understand Your Monthly Mortgage Payment
Unless you are paying cash for your home, you will have a mortgage payment. There are typically four parts to this monthly mortgage payment. Read more »

Learn About Your Loan Options
A smart home purchase begins with knowing the types of loans available and how they fit with your particular financial plan. Read more »

Make a Fair Offer
Your purchase offer will become a binding sales contract. The offer should contain every element needed to serve as a blueprint for the final sale. Read more »

Secure a Home Loan
Between signing a contract and finally getting your keys, follow through to make sure the loan process flows smoothly. Read more »

Get Insured
You never know when you’ll need it, but you must have it. Find out more about your home insurance options. Read more »

Enter Escrow
Before you’re handed the keys to your new home, you’ll close on the property. The more you understand about the closing process, the easier it will be. Read more »

The Do’s & Don’ts of Home Selling

March 20, 2015 by Corbett 2 Corbett Real Estate

Here are some great tips to follow: The Do’s & Don’ts of Home Selling.

These are fairly basic and will put you on the “Right” track for getting your home sold, based on the current market temperature. Check out this engaging article from “The Real Estate Book” and let me know if this brings up any questions as you consider putting your home on the market. The Corbett 2 Corbett Team is ready to assist in listing your home for sale and getting it SOLD.

First impressions are everything when it comes to selling a home.

“Most people make up their mind whether or not they like a house within mere minutes of stepping foot inside,” explains Don Frommeyer, mortgage expert and CEO of The National Association of Mortgage Brokers. “That is why it is crucial to make sure that you (and your home) are putting your best foot forward.”

Here are the top Do’s and Don’ts for getting your home ready for the market:

Don’t overdo it on the heat.
Do consider curb appeal.
Don’t expect people to use their imagination.
Do invest in updates that matter.
Do keep it bright.
To get more chances of selling your home fast, you can hire a Real Estate Agent Marketing Service to help you sell your home.

Link here to read the complete “Do & Don’t” article on The Real Estate Book.

2014 4Q Atlanta Market Stats Are In

February 25, 2015 by Corbett 2 Corbett Real Estate

The Forth Quarter of 2014 was Great for Home Sellers

The Rawl’s Group of Keller Williams Realty has once again released their quarterly statistics. In 2014 the forth quarter KW Atlanta Market Stats show the Sales Price Percent of Original List Price has increased to around 96%, this according to the First Multiple Listing Service (FMLS) data collected by Chartmaster Services, LLC, on single family detached residences. In past history, during the 1st Quarter of 2009 the Atlanta market saw that percentage decline to close to 80% with a gradual increase taking place throughout 2012. Flat, to slightly higher sales during 2013 and 2014 will be monitored to see if momentum has slowed enough to cause a plateau in the recovery. Higher December sales may be a stronger starting going into 2015.

Additionally, according to collected data, new construction properties (single family detached residences) posted a consecutive quarterly median sales price increase of +3.1%, while resale properties also posted a quarterly median sales price increase of +11%.

The median sales price for Resale properties in December, 2014 was higher than the previous high median December price reached in 2006. The supply/demand relationship continues to show a Seller’s advantage. As long as it continues, fast action and realistic offers will be necessary for buyers to capitalize on still-low prices for many available properties! Low-ball offers on high-value properties will likely result in missing out on a great opportunity. In 4Q 2014, nearly 1 out of every 5 (18.7%) sales transactions resulted in selling prices that were equal to or higher than the original listing price.

As stated, the Supply/Demand relationship has shifted to the seller’s advantage. As long as it continues, fast action and realistic offers will assist buyers in capitalizing on still-low prices for many available properties. Contact the Corbett2Corbett Team for help in today’s Seller’s market. We have experience working with both the buyer & seller and can assist you or a family member in navigating Metro Atlanta’s real estate market. Bring us any of your questions. We are ready to show you more on how the 2013 third quarter KW Atlanta Market Stats are showing the effects on our neighborhoods.

“Give us a call (404.909.2299) or send Ed Corbett an email and we will run a FREE CMA (Comparative Market Analysis) so you know the REAL market numbers on your home. We look forward to working with you.

Millennials prefer walking to driving, so housing market is changing

Most millennials don’t want to live in neighborhoods that are only accessible by car, a National Association of Realtors survey found.