lake lanier real estate: Spend More Time on the Financing! - 05/17/12 03:28 PM
Financing has become the make or break factor for many real estate transactions.
As important as it is to the overall purchase of a home we are seeing less time spent on the actual specifics of financing.
Today we had a one hour class taught by one of our mortgage brokers. She wanted to review a Pre-App Worksheet, HUD form, and various funding fees for conventional, USDA, FHA, and VA mortgages.
Did you know?
· On an FHA loan that the maximum contribution from a seller, for closing cost, is 6% of the purchase price?
· A lender can pay … (0 comments)
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lake lanier real estate: We Would Like Some Respect - 04/21/12 03:02 PM
A couple of years ago I did a blog about the lack of respect we receive as agents. After 7 years in the business, numerous awards, and high rankings as a top producer, our team receives absolutely no respect from the majority of our clients. I say this as a point of ever deepening frustration for The Wells Team.
Three weekends we received 5 offers on 5 different properties. As of today three of those offers fell through.
As we presented these offers to our clients we were met with very negative, and frustrating, … (1 comments)
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lake lanier real estate: The First Quarter of 2012 for The Wells Team - 04/21/12 02:30 PM
The first quarter of 2012 started more positive than this time last year. However as the year progressed we are starting to see a return to the same pattern that has “haunted” us for the last three years.
A lot of lookers as spring started early in the south
A group of new lookers filled with excitement
Sellers who have decided to make a move
As April ends we are returning to the same cycle.
Buyers want updated homes at low prices
Buyers do their research and learn about the market … (1 comments)
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lake lanier real estate: We Learn from our Clients: The Art of Negotiations! - 04/07/12 08:03 AM
A great part of this job is the ability to learn from our clients.
Our last education involved the art of negotiations. The ironic thing is that as much experience as my client had in sales negotiations ultimately the deal fell through.
We received an offer from the buyer’s agent. This buyer had been in the home numerous times but had a very difficult time making a decision on whether to put an offer on the home or another property. After a lot of assistance from her family, agent, and financial planner the buyer placed an offer on the home. We … (6 comments)
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lake lanier real estate: BEFORE YOU SAY NO DEAL PLEASE READ OUR EMAIL! - 04/02/12 06:48 PM
This is an email that we sent to our 5 offers. These offers were received over the weekend. After some of the less than enthusiastic responses we received we wanted to give our clients more information on how to deal with offers. Here is our email below.
Barb and I have been busy. In the last five days we have presented 5 offers.
All of you who have received these offers have something in common: You have recently had some major changes in your life. This includes divorce, the death of a loved one, health issues, or other … (0 comments)
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lake lanier real estate: Want to Build a Home? Bring Cash! - 03/23/12 05:48 PM
Want to build a home? Better bring cash!
We have been working on information for a client concerning a construction loan. If you have not tried to acquire a construction loan in a while you are in for a rude awakening.
For a lot and home totaling approximately $420,000 we found out the following:
The lot has to be purchased usually for cash. There is no longer temp to perm loans Therefore two closings occur Requires 30% down payment Takes 30-45 days to close Buyer and bank determine draws Monthly interest payments are made on the draws as they … (2 comments)
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lake lanier real estate: GAR Contract Changes for 2012 - 01/12/12 10:21 PM
We just completed our 2012 GAR (Georgia Association of Realtors) contract class.Every year we go through this class as GAR continually refines our contracts. Every change helps our buyers and sellers and the amount of protection we offer them in their real estate transaction. The biggest change to the GAR contracts is in reference to access to the actual contracts. Starting this month there some new procedures in place.Real estate agents, who are members of the National association of Realtors and GAR, will continue to have full access to all GAR forms. However if an agent is not a member of … (0 comments)
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lake lanier real estate: Lake Lanier! You are killing me! - 11/19/11 07:00 PM
For all of us "locals", we are all very familiar with Lake Lanier and its ever changing water levels.
As of today Lake Lanier was down over 14 feet!
What does that have to do with a real estate agent who sells Lake Lanier property? I think you know the answer.
We had been working with a client for over six months. We had showed them Lake Lanier property and knew their desire to live in our area. We were waiting for them to sell their Florida home.
You probably know how this turned out. Our clients had sold their Florida home however … (3 comments)
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lake lanier real estate: Why I Did Not File the Deed! - 11/19/11 06:21 PM
After six years I still learn something new everyday!
I have a client who is buying a home from a seller who purchased the home on the courthouse steps. The seller, with his investment group, paid cash for the property.
As we finalized the agreement with the seller we did negotiate with one disadvantage. We did not know what the seller paid for the home. Why? Because the seller had not filed the deed with the county!
After we finalized the agreement I brought up this point with the seller. The seller waited to file the deed because he did not … (4 comments)
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lake lanier real estate: Ten Trends from The Norton Agency - 11/19/11 06:03 PM
We had the opportunity to attend The Norton Agency Advanced Seminar last week. Our President, Frank Norton Jr, gave us a lot of statistics, information, and trends for the national and local real estate market.
Top ten trends, for our area, as identified by The Norton Agency
Expect no upward swing (in regards to prices) Foreclosures have run their course in Georgia Lending is invisible (more lending alternatives) Cash is piled up on the sidelines (folks in a holding pattern) Value price is in Healthcare sector is pumping Agriculture is back (demand for small farms) Function before glamour (in regards to … (2 comments)
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lake lanier real estate: Frustration with Appraisals! - 11/19/11 05:47 PM
I know every agent in this country is feeling the same pain that I feel when it comes to appraisals!
At my weekly Rotary Club meeting I had a friend share his frustration. He recently had his home appraised for refinancing.
His frustration was in the fact that, in his opinion, the appraiser had no idea about the details of the home. When my friend had his home built he spared no expense. Extra insulation, upgraded hardwoods, top of the line fixtures, counter-tops, and extra energy efficiencies throughout.
In a normal market all of these upgrades would weigh on the price … (5 comments)
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lake lanier real estate: Realtionships Still Work - 10/07/11 11:51 PM
We were approached by a company offering an internet lead capture system.
I know that they are great systems but The Wells Team obtains their business the old fashioned way: Personal Realtionships.
We are going to have a successful year despite the tough real estate market. The majority of our business is from personal relationships.
The Wells Team has made it a point to be active in the local community, participate in local organizations, and donate to local groups that need assistance.
I realize this is very basic but, after six years in the business, relationships remain a fundamental part of … (1 comments)
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lake lanier real estate: The Norton Agency Has an App for Your Cellphone - 10/06/11 11:03 PM
The Norton Agency is a local company with its dominant presence in North Georgia. Even though we are local, our company keeps up with the latest technology.
If you go the website below, you will be able to download an app that features The Norton Agency. The app will take you to our website where you can search the latest residential and commercial properties available. You will also see the additional services the company provides including property management, Homeworks, insurance, and our affiliations with closing attorneys and title companies.
http://www.wdun.com/accesswdunapp/
The Norton Agency: Local knowledge with both a national and international … (0 comments)
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lake lanier real estate: Communications, Still a Real Estate Basic - 09/09/11 10:23 AM
Yes communications is still a basic in the real estate world!
This is another lesson learned from dealing directly with clients.
Our sellers had asked us to lower the price of their home. Months later we received our FIRST offer! After submitting this offer to our seller we were met with a less than enthusiastic response! Our seller was not coming down off of his price! Matter of fact he had a change of strategy and would be taking the home off of the market!
This was a big breakdown in communications!
Lesson learned: Before I make any changes to any … (0 comments)
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lake lanier real estate: Do you Really Want a Foreclosure? - 08/30/11 11:42 AM
Do you really want a foreclosure?
We have been busy the last week with multiple buyers looking for the "deal"!
This group of buyers are looking in two upper end neighborhoods that include golf and boating.
We took these potential buyers into foreclosures, short sales, and traditional resales.
Here is what we found:
Some clients want a home because it says foreclosure or short sale regardless Some of our clients looked at foreclosure homes with "resale criteria". They did not like the floor plan, color of paint, carpet, or overall condition Some of our clients looked at the foreclosures differently once … (1 comments)
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