homebuyer advice: FHA Raising Fees to Cover $65B Shortfall...Should We Be Surprised? - 02/25/13 02:09 AM
FHA is estimated to be 46-65 billion dollars undercapitalized so increases in FHA mortgage insurance premiums and new, tougher underwriting standards will begin April 1st. Beginning then, it will cost new borrowers significantly more than refinancing borrowers who have had an FHA loan four years or longer. Tougher standards now, after digging a 46-65 billion dollar hole? Currently, 40% of FHA loans are considered subprime; is that going to change? Maybe Washington should just mint that trillion dollar coin and make everything right, after all the taxpayers will be on the hook either way. Real Estate Economy Watch notes the new requirements:

homebuyer advice: There Are No Short Sale Bargains - 01/06/13 11:05 PM
The idea that a buyer is going to purchase a short sale significantly below market value should be dismissed; those days (if they really existed) are long gone. The reasons vary but the one constant is that lenders are not going to absorb the loss of a single dollar more than required. Lenders are verifying home values with automated systems, broker price opinions (BPOs) and in some cases, appraisals. In short, they are ensuring that offers accepted reflect current comparable properties. Despite what lenders publicly say, there is little motivation to complete a short sale; foreclosure is not a bad … (0 comments)

homebuyer advice: 7 Seconds to Grab Your Attention..tick tock - 11/21/12 09:15 PM
In 7 seconds you’ll decide whether to continue reading this, if you want to open that listing, if my site is worthwhile or if you want to work with me. I'm going to to the same to you. Instead of seizing that moment, many agents fumble it away. 
According to the National Association of Realtors, as many as 97% of home buyers begin their search online by scanning listings. They spend an average of seven seconds previewing a real estate listing online before deciding if they’ll look deeper or move on. If your listing fails to capture their attention, opportunity is lost. … (1 comments)

homebuyer advice: Street Names Can Influence Appeal & Value - 10/05/12 12:21 AM
Would you put a buyer in a community named "Murder Heights"? The street name of a neighborhood can affect the asking price on a home, at least according to a new survey by Trulia. Trulia analyzed the median asking price per square foot among various types of address suffixes, like “Lane” and “Park.” Street addresses with the words “Boulevard,” “Place,” and “Road” were found to have higher average asking prices than homes with addresses ending in “Avenue,” “Drive,” or “Street,” according to the Trulia study.
For example, homes that were located on streets with the word “Boulevard” in the address sold … (0 comments)

homebuyer advice: Do You Refer Experts to Your Clients - And If It Goes Wrong? - 04/25/12 11:45 PM
Does it make sense to refer clients to folks that you’re comfortable using? I’m wondering if it’s best to avoid the “…you said” nonsense if/when things go wrong. Given the public perception of agents, I also wonder if despite our best intentions with recommendations, is that looked at by a client with a jaundice eye?
I recently closed a deal with a buyer that was impossible to please; found fault with everything and everyone. While the home remained a solid purchase and a great fit for their needs, their incessant haranguing and condescending approach to everyone involved in the process was … (24 comments)

homebuyer advice: It's Time to Buy a Home - 04/18/12 08:00 AM
I think it’s time to consider buying a home in the Atlanta area. I don’t say that as a shill for any real estate organization; I say that as an appraiser, broker and student of this industry for over twenty years. The data, coupled with rates that have been ridiculously low for so long combined with the prevailing expectation by most economic “experts” that rates will/have to rise after the election make now the time to legitimately consider a home purchase. Note I said consider – buying a home isn’t something everyone should do.
Are home prices still dropping in Atlanta?Yes … (2 comments)

homebuyer advice: Paralysis by Analysis and Firing a Buyer - 03/09/12 10:35 AM
I fired a buyer today, told her to find another agent. After about seven months and three offers, after hours of research, hundreds of emails, calls and texts…I happily walked away. I figure this was about an $11K walk but I’m not losing a wink of sleep. This “buyer” suffers from a disease that’s very tough to cure and it can drain an agent…Paralysis by Analysis is what I call it. Always finding a reason “not to” or setting up a scenario to fail…being afraid of getting what you want so you make it virtually impossible to get.
Many buyers … (6 comments)

homebuyer advice: I Shot My Wife in the Bedroom; Do I Have to Disclose That? - 02/24/12 08:21 AM
One second, let me scan the seller’s disclosure form for homicide...nope, you're good. Do I need to write on here that my brother died of AIDs in the house? This is a great place, other than that house up the street that we think has a meth lab in the basement; that won’t be an issue will it? That’s an old Civil War cemetery behind the house, the only time it creeps me out is just before a storm. I hear whistling and crying down in the basement; should I mention that?
Work in this business long enough and you’ll run into … (8 comments)

homebuyer advice: Is it Really Time to Buy a Home? I'm Wondering.... - 11/14/11 03:13 PM
Put down the talking points and agent propaganda, I'm looking for a defensible answer. A rousing discussion with my CPA, my investment guy and a buddy that's a CFP left me scratching my head...is it really time to buy a home? Does that make sense for most folks?
I'm curious, I know we're all too close to be completely objective but some very compelling observations were discussed this afternoon...I'd like to hear what the rank and file have to say. I'd also like to know if you've ever suggested to a buyer that they might be better renting.
One favor - … (17 comments)

Hank Miller, Associate Broker & Certified Appraiser (Harry Norman Realtors)

Hank Miller

Associate Broker & Certified Appraiser

Alpharetta, GA

More about me…

Harry Norman Realtors

Address: 776 Whitlock Avenue, Marietta, GA, 30064

Office: (678) 428-8276

Fax: 678-428-8276

Email Me

The HMT blog is written by Hank Miller of The Hank Miller Team. He is a licensed broker and certified real estate appraiser in the state of GA. Since 1989, real estate has been his full time occupation and Hank consistently ranks at the very top of Atlanta area agents in overall production. He is known as much for his attention to detail as he is for his candor.



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