News I wanted to Share!

It’s been a busy month! Since my last note I’ve had some exciting things happen that will benefit all of my customers.

I’m pleased to announce that I have been recognized for my performance and was named one of the “Top 20 Sales Associates” for the Buckhead/Powers Ferry Road Office of Harry Norman, Realtors. This award is based on overall sales volume and gross commission income. I was also named a Lifetime Member of the Atlanta Board of Realtors’ “Million Dollar Club” for my consistent performance for the past 3 years. I’m certainly working hard!

I have also been selected to serve on the President’s Council for Harry Norman, Realtors. This is a great opportunity to continue to learn, especially in this ever-changing market! I’m hoping this exposure will give me greater insight that I can use to help my clients now and in the future.

Speaking of the future, I recently completed a course that certifies me as an “eco2SMART Agent.” This designation was designed to educate realtors in “green” building trends and codes – everything from windows and insulation to alternative heating systems and water conservation systems. It was truly interesting and will become more relevant as our current economic woes subside.

Lastly, I recently appeared on 11Alive News at 11pm. I shared with WXIA-TV’s Jon Shirek my take on a recent study released by Forbes naming Atlanta one of the “Emptiest Cities” in America. I believe we’ve got such a high vacancy rate due in part to our saturated condo market. Please visit my website to watch the clip: http://www.shawnperez.com/

Now's the Time to Buy!

It truly is a buyer's market! Low prices, unbelievably low interest rates, good inventory from which to choose, and a nice tax incentive if you're a first time home buyer. If you've been sitting on the fence, what are you waiting for? Some have said that they think interest rates will go down to 4%. From everyone that I speak with, this is highly unlikely. Rather, interest rates will probably start edging north in the fall. Others say that they think home prices might fall a little more. This is also unlikely in our area. Activity has picked up and the good houses go first. Remember, we only know that we've hit bottom when we're on the way back up...so, if you wait, you will probably miss what is the best opportunity in years.
Get out there!

Buyers, This is the Market We've Been Waiting For!

If you're thinking about buying a home, you're in luck. Houses are on sale and the money is cheap. (In fact, interest rates are probably lower now than when our grandparents bought their home!) The last time homes were "on sale" interest rates were well into double digits. With 30 year fixed rates floating around 5% NOW is the perfect time to buy.

So what ARE you waiting for? Many want to wait, thinking the market still hasn't reached the bottom. They're hoping to time the market perfectly, but that rarely happens. No one has a crystal ball. No one knows for sure where prices will settle and when that will be. I tell people that are sitting on the sidelines, "If you're waiting for the media to tell you when it's at the bottom, you've missed it. Chances are likely that it is already a few months into the climb back up."

If you're qualified and looking for a new home, you really can't lose. You'll get a wonderful home at an awesome price with favorable financing terms. If you're an investor, you can't lose either: Their are tremendous opportunities with bank owned properties and short sales. The transaction to purchase one of these foreclosures might be an exercise in patience, but the reward could be well worth it. If you decide to go after a bank owned property, just know that the banks aren't giving them away. On average, they usually sell for 20% of the list price. In most cases the list price is set below market value and the banks won't negotiate as greatly as many think they will.

Happy house hunting!

Fall Healthy Home Check-Up List

There are some quick and easy things every homeowner should do this time of year. Richard Sims from Great City Inspections is a great resource and a wealth of knowledge. Here is his list of maintenance tips you really should address!
1.) Check all weather stripping at doors and windows for damage and tightness of fit.
2.) Check vents, louvers and chimney caps and housings for bird's nests, etc.
3.) Check grouting and caulking around all tubs, showers and sinks.
4.) Check the condition of all lamp cords, extension cords and plugs. These should be replaced at first sign of wear of damage.
5.) Test all Ground Fault Interrupters (GFI's)
6.) Clean dirt and dust from around furnace.
7.) Check safety and reversing mechanism on all electric garage door operators, adjust if needed.
8.) Check and lubricate window hardware.
9.) Sweep debris from flat and low sloped roofs.
10.) Evaluate roof for future replacement.
11.) Clean gutters and downspouts. Check for damage and slope.
12.) Check floors for wear and damage, particularly where one material meets another.
13.) Evaluate floors for replacement or refinishing.

Happy Fall, Ya'll!!!

Top 10 Most Cost-Effective Renovations

Here are some fast, savvy and (mostly) cheap fix-ups that will increase the value of your home.
1.) First impressions are key, so pay special attention to your house's approach: A front door cheerily repainted (and clean!) with a new knocker and hardware, flanked by potted plants, prepares visitors to be wowed by what's inside.
2.) Stick to cosmetic changes, and stay away from any structural renovations that require elaborate permits or architects - which can quickly devour funds. Hire your own subcontractors to save money and to keep an eye on the budget. Of course, if the job is more extensive, or if you haven't the time, it might be best to hire a general contractor. This may save a few more bucks, but could save you some headaches!
3.) Spend money on top-of-the-line appliances like Viking ranges and nicer fridges. Sub-Zero gets low marks on customer satisfaction due to the problem with finding someone to service them, but buyers love them. This kind of high-end flair raises a property's selling power.
4.) Bathrooms and kitchens deserve upgrades, not overhauls. Avoid reconfiguring the plumbing. One option is to replace old built-ins with inexpensive free-standing units (think Ikea) or painting and glazing if they're good wood. Sinks, faucets, mirrors and other fixtures can be swapped out relatively easily and inexpensively.
5.) Repaint or refinish existing surfaces. This sounds like a no-brainer! If you have hardwood floors buried beneath carpeting or a bad finish, have the floors refinished. Also, before replacing a window, it might be worth the trouble to have the paint stripped to see if a fresh coat of paint (on a clean surface) might do the trick.
6.) Switch out doorknobs, light fixtures and other hardware. These details go a long way toward enhancing a house's appearance and can be done easily. Remove the old brass light fixtures so popular in the 80's & 90's with brushed nickel or bronze.
7.) Color and design choices should be simple. Stick to a neutral palette. Everything looks fresh and crisp after a coat of white paint! Basic styles are most appealing to prospective buyers when it comes time to sell - you may love hot pink, but prospective buyers may not. A blank canvas allows people to project their own fantasies.
8.) Opt for off-the-shelf products where possible. Design with standard sizes and elements in mind. Custom features are expensive and often require pricey installation.
9.) Use modest materials in high-design ways to give spaces instant impact. For example, an affordable sheet of zinc creates the perfect backsplash for a fraction of the cost!
10.) Landscape smartly. Plants mask a multitude of sins. Instead of making major changes to the hardscape ( walls, walkways, etc.) spread wood chips and position shrubs and flowers to liven up the views from windows and draw the eyes out.

These are just a few ideas that I found helpful in the October issue of Domino Magazine.
Happy living!

Atlanta named one of Top Ten Cities to Bounce Back

Yes, it's been an uncertain time in the real estate world. The recent lender turmoil was NOT what this industry needed! Both buyers and sellers have become weary, wary and a bit frightened by it all. It's been enough to send any prudent investor fleeing to the relative sanity of the stock market. Don't.

Instead, get ready for the bounce-back. That's right. And, Atlanta has been named by CNNMoney.com as one of the ten cities ready to bounce back. The oldest rule of investing is "buy low, sell high." Now is a great time to invest and get back into the game.

Working with Moody's Economy.com, CNNMoney has unearthed 10 major metropolitan areas that are bucking the national housing trend. By the beginning of next year, these markets should be coming back to life -- Atlanta is definitely one of them.

They've projected the median sales price for single family homes to experience a 5.6% growth. Not bad considering the gloom and doom we've been hearing.

Boding well for the local economy, Atlanta boasts one of the highest rates of job growth in so-called "creative-class occupations" in the country. It's the #1 destination for young professionals, a transportation hub (Atlanta's Hartsfield-Jackson Airport is the busiest airport in the world!), and a place where most Fortune 500 companies maintain a regional presence. Projections by researchers at the U.S. Cnesus Bureau and Virginia Tech put Atlanta at the center of what CNNMoney.com calls a "megapolitan" cluster of urban sprawl that will develop over the next quarter-century, encompassing 7 million people.

This leads to another niche real estate strategy: As buildable land around the city disappears, downtown neighborhoods on the brink of transformation are ripe for investment.

What's going on with the Real Estate Market?

That's the question I am asked most often by EVERYONE who knows I'm in real estate. What's going on with home sales? What's happening with the mortgage business? Is the sky really falling?

No, the sky isn't falling, but that's what you would believe after watching a week's worth of local and national news. Yes, things are definitely slower than they were last year at this time. For August, home sales in our area are lagging about 25% behind where they were last year. It is also taking a bit longer to sell a home. However, the Atlanta market is still much stronger than other housing markets across the country. And, contrary to what is reported in the news, people are still buying and selling homes everyday.

The homes that are well maintained, look good, smell good and priced right are selling quickly and are actually getting multiple offers. Also, certain in-town neighborhoods have remained strong.

If you're thinking about selling your home, here are a few tips: Turn a critical eye toward your home. Clean the carpets, put a fresh coat of paint on the high-traffic walls, and get the pet smell out of the air. Start packing some of your photos and knick-knacks -- you're moving anyway, right? Get started! I also recommend that sellers flip through the pages of a Pottery Barn catalogue. You'll see the clean lines and uncluttered style that today's home buyers are looking for... and comparing your home to!

Now is actually a really good time to buy real estate. There is a higher supply of homes and interest rates are good if you have good credit. So, don't be afraid... Come on in, the water is fine!