Why it Makes Sense to Work with an Agent

If you have ever wondered why it’s better to work with an agent rather than listing “by owner,” you aren’t alone. Superficially, selling a home seems easy - until you actually try it.
According to statistics, nearly 80% of people give up and list with an agent after months of costly and time-consuming delay.
Here is why agents matter more than ever:

Time
Showing homes, answering calls, responding to email, scheduling inspections and appraisals plus much more are time consuming tasks; more importantly, everything involved in a real estate transaction is time sensitive. Delays can cause a deal to fall through even at the last moment.

Promotion
Agents specialize in a specific location and know exactly what buyers are searching for in your area.Not only do they know how to price right and grab the attention of prospective buyers, but many agents have an established list of buyers waiting for specific types of properties.Successful real estate marketing requires extensive experience, time and persistence to achieve top prices in a buyer’s market.

Cost
Selling a home requires more than simply placing a sign on the front lawn; it also entails a lot of out-of-pocket expenses with no guarantee of success. Advertising can cost hundreds or even thousands of dollars, listing with a “by owner” agency or MLS service typically adds hundreds more.

Finally, it is important to remember that real estate agents split commissions between the listing agent and the selling agent. To attract attention to your home it is still necessary to split the commission with any agents who bring buyers to the table.
Working with a real estate agent is likely to save you money over the long run.

Chance of a Lifetime: Tips for First-Time Buyers

While the burst real estate bubble might be bad news for the economy, it could be good news for first-time homebuyers. In fact, now might just be the best buying opportunity of a lifetime. Follow these steps to determine where to begin:

Establish a Realistic Budget. Owning a home involves more costs than meet the eye. In addition to mortgage, taxes and insurance, wise homebuyers set aside a little savings toward maintenance and unexpected emergencies. Remember, you will eventually need to repair or replace many items in the home.

Buy What You Need. While real estate is often considered an excellent investment, it’s important to only purchase as much home as you actually need. Bigger isn’t always better; sometimes it’s simply more expensive. Higher taxes, bigger insurance bills and more maintenance can eat away at even the best budgets. So buy what you need, unless it’s wise for you to…

Plan for Growth. First-time buyers can also be too modest when it comes to purchasing their first homes. If you intend to begin a family, you may quickly outgrow the home. Plan for growth to ensure you will be as happy in the home tomorrow as you are today.

Understand Appreciation. Although you don’t want to base the purchase of your home solely upon appreciation, it’s important to understand how the future value of your home is likely to impact your ability to move up later in life. When the time comes to sell, rent or exchange the current property, a home with long-term appreciation provides greater buying options in the future. Search for neighborhoods expected to rise in value over time.

Work with a Reputable Agent. A great real estate agent or broker is often worth his or her weight in gold, which is why you will typically find that investors would never think of going it alone. Unfortunately, many first-time buyers are under the mistaken impression they can save money by helping the seller eliminate or reduce the commission. Research shows this is rarely the case. Most agents help negotiate a lower sales price and ensure that funding, necessary paperwork and other important legal considerations are all taken care of.

Comment on Realtor Response Time

As an Atlanta area Real Estate agent, I find I must comment on the lack of response from my peers.

In many cases, when I call for information on a listing I find I have to leave messages in any number of places and without fail, my messages are either never returned or they are hours later.

Two cases in point:

1. A few weeks ago I had a friend and fellow investor here from CA and she wanted to see some properties. We ended our day at a last minute stop to see a property in Lawrenceville, GA. There was only a contractors lockbox so I called the number on the sign. It was for an office and of course the nice lady who answered said she didn't have any info on the listing (BIG mistake number 1) and that I would have to speak directly to the listing agent. I was given this person's cell number, called and had to leave a message. My client and I waited about 15 minutes; no return call. I brought her back to her hotel, still no call. When I returned to my office I looked up the listing and then sent the agent an email. This has been a few weeks ago now and I am still waiting on a response from this agent!

2. Just yesterday I was with some clients who are moving from VA to the metro Atlanta area. These are VERY motivated buyers. There was a listing in Lithonia they desperately wanted to see so I printed out the listing and off we went. There was only a contractors lockbox but this time the lockbox code was in the private remarks on the Agent's listing. Perhaps you can guess what happens next. We get to the property and the lockbox code does not open the lockbox! I call the office and was told that was the code! I said no it isn't. And I was very curtly told that perhaps I input it wrong. Rather than coming back at her I asked for the listing agent's cell number. Of course there was no answer there and I had to leave a message. This all transpired at about 10:30 am. The listing agent fianlly called me back a little after 2:00 pm. UGH!

This is a promise from me. I ALWAYS return calls within an hour at the VERY latest. Usually it's within minutes. Why? Because un-returned calls means a possibility of lost revenue and business. In this market, no agent can afford to turn away business. Agents, answer your phone and return email inquiries. Many times if I am at the office in front of my laptop, I'll email a question to an agent. I understand that sometimes the phone ringing every 10 minutes can be annoying and intrusive. When I don't need an answer immediately, I'll email. When I am out of the office, I receive email on my phone. I can at least look quickly to see it's importance. Most times I respond quickly with, I received your email, however I am currently out of the office, but I will address your questions when I return. Something simple so the sender has been shown respect with an answer. Or, if I am able I will call the person but tell them I am away from the office. Allow me to get back there and I will be better equipped to answer your questions then. At least I have answered!!

Easy Touch-Ups to Give Your Home Curb Appeal

June 1st, 2009 ·

Spruce up your yard in time for summer entertainment with these quick and affordable fixes for the most common curbside complaints.

Pressure Wash and Spray

Start at the roof, then work your way down, to remove stains and dirt from walkways, driveways and even fences. Whiten and brighten the concrete, crevices and other corners of your home and yard to lighten the entire area.

Clear the Clutter

Trim and remove low branches and excess clutter to create the look and feel of clear, open space. Consider purchasing plastic partitions or other low-maintenance storage units to hide away trash cans and other unsightly items that add to the perception of clutter and detract from the beauty of your home.

Touch Up the Paint

Shutters, doors and awnings are all prone to excessive wear and tear over the winter months; make a point of touching up the paint. It’s an easy and affordable way to revitalize the look of your home.

Add a Touch of Color

Bring in fresh mulch; then follow up with strategically placed flowers, potted plants and other enhancements throughout the yard. This will add interest while helping hide those tough trouble spots.

Create a Focal Point

The most successful landscapes incorporate a central element that serves as the focal point for the entire area. Use the same strategy in your own yard. Begin with something affordable and small like a garden bench or pond to add elegance and appeal.

Atlanta Happenings - DovCar Investments LLC

Hi Everyone...just checking in to report the latest and greatest from Atlanta and our adventures... We had picked up some good homes in the city on the cheap that we were told would get high section 8 rents.

On the first house we spent around 55k total after rehab.... We were told that we should get $1800 per month with a $2000 one time incentive fee. We just had a hard time believing it would actually get that much in that area of the city. We just got the call after the Housing Authority completed the inspection...$1860 per month rents and $2100 one time incentive check. Wow..what a return on investment! We got the higher rents because it is 5 bedroom.

The other home is complete as well ...70k invested so far (was a newer 2006 home amidst similar newer homes thus was more expensive)...

We have a Section 8 renter ready to go and we feel we will at least get $1500 per month. We have had a lot of issues because the original builder majorly screwed up the addresses on the street.

Various agencys have had 4 different addresses for the home. Thus getting this all cleaned up with the city, the water dept, the post office and the Housing Authority has been quite a chore and we still have not jumped through enough hoops so we are in limbo being able to get the Housing Authority inspection done ...ugh...thus we wait.... :(

We have another home that we got just because we were in the right place at the right time....
our money partner has a friend who had to put her Mom in a nursing home and wanted to sell the home as soon as possible.
She just did not want to deal with it so she put it up for a quick highest and best offer and we got the house for a great price...
and since Bob was working with a client that was looking for a house in that area who has just qualified for a FHA loan, we are able to move Bob's client in under a Lease Purchase agreement until the 90 day seasoning is up and can cash us out when the FHA loan goes through. We have our fingers crossed that everything will go through ok. :)

Bob's become quite the expert so contact him if you, your investors, or your money partners are interested in doing Atlanta flips or rentals. ke knows how to find the workable properties.

Rick
770-654-7005

National Tracts

Today at 3:15pm

Pending Home Sales Rise 3.2% - Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions, according to the latest report by the National Association of Realtors. The affordability index was 166.7 in March, down from an upwardly revised record of 174.4 in February due to higher home prices in March. The index remains 30.8 percentage points higher than a year agoThe Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, increased 3.2 percent to 84.6 from a level of 82 in February. It's 1.1 percent higher than March 2008 when it was 83.7. Here is a breakdown of pending home sales by region:* South; rose 8.5 percent* West; increased 3.9 percent* Northeast; fell 5.7 percent* Midwest; slipped 1 percentForecasters say recession nearing end - More than 90 percent of economists think the recession is nearing its end, but they don't expect the economy to soar anytime soon. Nearly 75 percent of economists, surveyed by the National Association for Business Economics, say that the recession will end in the third quarter. Another 19 percent think the turnaround will come in the fourth quarter. The rest are betting on the first quarter of 2010.Americans seem to believe that things are getting better too. The Conference Board's Consumer Confidence Index rose 14.1 points in May to 54.9, the second month in a row in which there has been an increase. Forecasters say that home sales ill bottom out in the second quarter, an important stabilizing factor.Source: The Associated Press, Jeannine Aversa (05/27/2009)This article was reprinted with permission by The Norton Agency- Market Watch 246