Atlanta Real Estate Blog - Jim Crawford REMAX Greater Atlanta

Atlanta Lease Purchases

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Fri, 20 Nov 2009 19:31:56 -0600

Ah, the 1970's when lease with an option to buy was common (until that went through the courts - can you say due on sale clause?) Today there are several kinds of lease purchases such as lease with an option to buy and a straight lease/purchase and any variation you can work out among the parties through an attorney. Many people today would love to do a lease purchase, but they don't understand that they will still need to put down non-refundable earnest/option money because the seller is taking the property off the market making it impossible for the seller to work any other lease purchase or sale.

Let me go over some very basic concepts of today's lease purchase, most especially because these purchasers also don't understand that at the end of the term, they must buy the house or vacate, and forfeit their earnest money and applied monthly escow. A lease/purchase contract is not an "option to buy contract" where you put down non-refundable money and at the end of the term if you don't like the house, schools, neighborhood, or whatever you opt, you don't have to go through the final purchase process:

1. The deposit money is nonrefundable because no one else can purchase the property during the term of the contract.

2. The buyer cannot assign the lease purchase agreement (unless the seller approves and they won't). This is not a rental sub-lease.

3. Buyers will generally be responsible for maintaining the property and paying all expenses which includes taxes and insurance.

4. The buyer is obligated to buy.*

*If the buyer defaults, the buyer will not receive any portion of the option money (deposit), the portion of the lease payments that were paid which would have gone toward down payment, and the seller has the right to sue for specific performance and report your default to the credit bureaus.

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Do You Remember When in Real Estate?

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Fri, 20 Nov 2009 09:09:51 -0600

A lot of folks in real estate today complain bitterly how hard things are today. Yes there is a lot of change, and both real estate agents and companies are going out of business. In that sense real estate is not different than it was years ago. Today we have incredible mortgage rates, yet agents want buyers to have down payment assistance DPA and 100% financing. Things were not easy for years while buyers had to save their down payments. You had to nurture them along. Your contact manager was a box of index cards with hand written notes,a dn dates on it.

As for doing business...things were much more difficult. The real estate business required a lot more driving while hand delivering contracts, and marketing materials. Real estate back then was a lot more time consuming, and there was even wear and tear on the autos while running errands. There was no such thing as multiple color photos, virtual tours, and BING or Google maps to make your showing day eaiser! We had to drive around wihta real estate map book that more often than not was useless. You had to preview what you were showing! So real estate in the good old days was not as good as many make it out to be. There was however a lot of unproductive wasted time, waiting, and not as much commission from fewer closed sales. It was a lot more costly to market yourself and services. However, I prefer real estate the way it is done today. More closings even is a lousy market is an everyday reality since the advent of the Internet. Despite all the bellyaching, we've never had it easier in the real estate industry. Contracts on-line, PDF files, emails, e-fax, GPS, cell phones, Blackberry's, personal computers, access to the MLS at home and cell phones, electronic lock boxes that notify you when the home is shown, websites, office intranets, emails, attachments, personal color laser printers, label maker printers, and so much more! Do you miss the old days? I don't!

REMEMBER WHEN:

20-30% down-payment was routinely required?
You paid your own closing costs?
Buyers or sellers walked into your office regularly for help?
Buyers used to come to agents to buy a home?
Buyers used to get pre-qualified by the real estate agent in depth before they were given the name of a loan officer?
Buyers were loyal?
When Buyers appreciated your knowledge and thanked you for working on their behalf?
When buyers referred other buyers to you because they appreciated your honesty even if they did not buy?
When buyers read classified ads and real estate books?
When buyers asked for addresses to the new listing ads, you did not give out the addresses until you first obtained a meeting with them?
Desk duty?
Thermal Faxes that curled up and were almost illegible within a week?
MLS books, and the black ink on your fingers?
MLS Map Books?
Black and white photos?
Going to the office to use a computer or access the MLS?
Paper MLS listings you filed?
When everybody represented the sellers?
When they fined someone for trying to manipulate the MLS with wrong areas, addresses?
Pay phones and rolls of quarters.
Pagers?
Realtors took the NAR Code of Ethics seriously?
Multiple offers?
Loan officers that referred business to you?
You would get the HUD-1 before closing?
Merrill Lynch Realty?
18.5% 30 year fixed rate mortgages in 1981?
WRAP mortgages?
20.5% Prime Rate in 1981?
Picking up the keys at an office to show a listing?
Buying Film?
Taking pictures of new listings?
Waiting for the the developing pictures of listings?
Literally cutting and pasting flyers and photos for a listing?
Going to a printer for brochures?
Waiting for printed marketing materials?
Knocking doors for listings?
Legal sized page contracts?
Carbon Paper?
Bulk mailings?
Address Labels?
Postage tongue?
Previewing homes?
2 Page Contracts?
The days before sellers property disclosures?
The Days before homes were inspected?

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Car Have Dings? Custom Auto Reconditioning! Alpharetta Local Business

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Thu, 19 Nov 2009 17:33:08 -0600

Supporting other small business persons and friends like ourselves is a smart way to begin healing our local communitis. We feel Realtors can be at the center of the fix in he economy because we come in contact with so many individuals. We're calling this Blog Type "A Shout Out!" So this is the second of a few Local Blogs "Shout Outs" The Blog was written by my wife Ellen!

By Ellen Crawford

Custom Auto Reconditioning C.A.R. by our own resident magician Dan Merrill. Did you ever get home from the mall and find a ding that definitely wasn't there that morning? Do you want to purchase spinning rims for your son's tires for his birthday? Want the best overall reconditioning your car has ever had? How about repairing scratches; have you ever sent away for the stuff on TV only to realize it was clear nail polish or just plain bogus? Drop by Dan's CAR garage at 245 S. Main Street and have him give you some great ideas on how to inexpensively repair your bumper where you took down my mailbox - he'll be glad to meet you and dazzle you with his excellent work. http://customautorecon.com/contact.html

* This is not an ad, or endorsement, but rather a support of local businesses we've used. We were very satisfied on the two cars Dan worked on for us! He does gret work!

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Atlanta Travel - A Shout Out to An Atlanta Local Travel Business

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Thu, 19 Nov 2009 17:21:53 -0600

Ellen and I were discussing how we can support the economy in Atlanta. A lot of it is going to be by going local. Supporting other small business persons and friends like ourselves is a smart way to begin. We feel Realtors can be at the center of the fix in he economy because we come in contact with so many individuals. We're calling this Blog Type "A Shout Out!" So this is the first of a few Local Blogs "Shout Outs" to start that off. The Blog was written by my wife Ellen!

By Ellen Crawford

I had lunch the other day with Jeanny Elmquist and her children Luke and Victoria. Jeanny is a Corporate Travel Consultant at Travel Office LLC, but don't be under the incorrect assumption she can't do individuals or families because Jeanny's middle name is Family so to speak. Usually the first half hour of our conversations are about her sisters, brothers, Mom, nieces, nephews, and their children scattered everywhere. She would have to be a travel consultant with that large extended family! Her in-laws live in Pennsylvania and her husband has family in Malmo, Sweden where my nephew lives with his new Swedish wife. In other words, with my granddad also originating from Pennsylvania, Jeanny and I have a lot in common. While the kids played, we were talking about cruises and she told me about this fabulous concept that UCLA has partnered with the cruise lines she represents. When you're on a cruise, your child can take a fun, informative, hands on science course, I just loved that. I was counting on my two hands the number of things a multi-aged family can do on a cruise line and at 38, Jeanny had just gotten started. Across the entire age spectrum, in addition to the usual swimming, shuffleboard, exercising, dancing, movie theater, eating, drinking and general merry making, it would be impossible not to have a great time no matter where your destination. She sent three ebrochures to my email so I could take a look at rates, free stuff, and programs. Ask her for more details, but the best part was the pricing and many include free upgrades - some cruises are only $80 a night and one fit for a royal honeymoon was only $249 a night. Tell her your dream cruise and she can make it happen. If your personnel office is looking for a new corporate travel agent, she's the gal for you. Alaska anyone? Her email address is your_travel_agent@email.princess.com and her site is http://jeanny.agenthub.net/contact.php,

* This is not an ad, or endorsment, but rather a support of local businesses

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Boasting, and Liable! There is a Difference!

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Thu, 19 Nov 2009 08:44:24 -0600

An agent making the claim they are the "Best Atlanta Real Estate Agent" is one thing, and an agent making the claim, "...Foreclosure Expert" are two very different types of claims. Everyone in the real estate industry... reads the claims of agents and brokers claiming they are "Short Sales Expert!" "Foreclosure Specialists...ad nauseum..." and we take take them with a grain of salt! So many agents are doing this these days. A lot of agents using terms like "Consultant, Adviser, Relocation Expert, Buyer Advocate and Distressed Property Specialist!" So far so good? The problem with this is that they have never sold a home or advised one client. To a client that is relying on them for assistance and guidance in the most expensive transaction in their life...what if that advice is totally wrong? I'm not a lawyer , but you have to believe in resentments, and righting a wrong. Once unsubstantiated claims are made in print...they go a little beyond creative marketing and may offer proof of fraud for an unhappy client. In some states even a "Pen" with printed information on it is considered advertising! I read an article along time ago that said in downturns, lawsuits increase against agents. Be careful what you claim!

If an agent is making claims, they better be able to back them up. The term 'consultant' has a ring of authority in it, but what if the sound is hollow? In some states, terms like financial adviser or consultant may have to be licensed. But what if an agent was never consulted for anything....yet makes these claims? An angry client can research your background, they can save your business cards, and print dated pages from your website where those claims are made. If they file a lawsuit after they find you've never done anything as claimed in your ads...they may want justice. FYI...If you are sued for fraud, it is my understanding that fraud is not covered by E&O, and if your E&O does not cover it... you are on your own. Your own personal assets, bank accounts, properties, and finances may be at risk.

The rush to make money in real estate is blinding many to cross the line where it is not their advertising that is in question, but their manipulation of an unknowing victim. Even if you win your case if sued, the cost of a long protracted legal fight can crush you financially, wear you down mentally and rob you of years of your life.

In Georgia the state has pretty much taken the position, that we cannot practice law. Real estate agents, are not in a position legally to advise anyone on whether they should do a short sale and how to do it. That is reserved for the practice of law because of all that is involved.

An Example: Even though we are licensed under the laws of a state to sell real estate. I may speacialize in residential real estate. I could legally sell commercial real estate, but since I have so little understanding of the the workings of commercial real estate..I will not sell it. I would place my clients and their interests at risk if I offer advice and guidance in an area I know nothing. I will refer my clients to someone that has experience in those areas and can best assist my clients.

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Credit and Home Buying!

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Wed, 18 Nov 2009 21:23:51 -0600

When you're ready to purchase a home in Atlanta (or a car for that matter) you should see a loan officer or mortgage planner first. There are so many options and programs open to Atlanta home buyers that you may want some assistance in planning the best mortgage for your needs over the lifetime of your mortgage, especially if you plan to stay put. If you'll be in Atlanta for 5 years, you may want to take a loan with a balloon coming due in seven years as opposed to an ARM, a fifteen or thirty year loan for example. You may want to work with a lender that allows you the choice of paying your mortgage twice a month and save yourself tens of thousands of dollars over the life of the loan.

First thing to do is check your credit report. In Georgia, you can check your report for free twice a year with all three credit reporting services (Equifax, Experian, and TransUnion). Credit is very important these days, and the rate you get when buying a home will be a reflection of your credit score. A poor score will mean a higher rate.

Always check for errors which are very common and can take a long time to correct. If you monitor your reports, you can catch mistakes early.
Please make all your payments on time. This will result in your getting the very best rate and keep your score high. Why pay sometimes hundreds of dollars in fees?
Old accounts count! Even if you don't use certain cards much, the length of your credit history is a portion of the factor in your credit score.
When you spend your accounts to the maximum, you'll bring your ratios way over the top. If you have your credit card debt alone at half your credit limits, it's factored into your ability to purchase. Happy house hunting and enjoy the extension on the $8,000 tax credit and you still have time left on the Georgia $1800 tax break.

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Buying a Home - A Personal Budget Could Prevent Disaster!

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Tue, 17 Nov 2009 22:53:21 -0600

When they say "A home is the biggest investment of your life..!" They weren't kidding. It is! As you can see now what is ocuring in our economy today...it should never be taken or treated lightly as people were doing. A sudden illness, job loss can turn your world upside down. I recently heard of a friend speaking of a couple that just recently lost their home. Both the husband and wife lost their high paying jobs. They had no reserves. They lived in such a "Big home, drove a big car, and lived a big lifestyle!" At first glance, you would believe they were very well off, but it was a mirage. It was all done on credit.

Sometimes you sit back and are overwhelmed when you hear stories like this, but I no longer do. I am not cynical, a better word is that I am 'numbed to it!' I really think that too many persons lived way beyond their means and needs and what we are witnessing in our society to day is the price many are paying for the financial distress. As a parent would tell a child with too much food on the plate, "Your eyes were bigger than your stomach!" So too is the predicament that many home buyers placed themselves in. They placed themselves and their future in harms way. This is really a pretty common place story in America today. They did not anticipate income, their real financial obligations in life, increases in mortgage payments, taxes, utilities and even increases in the cost of gasoline. It was a true recipe for disaster of epic proportions.

Compulsive gamblers get a thrill by pushing the envelope a litter further than they should, and get a rush when they beat the odds. The difference is that many compulsive gamblers take calculated risks. They make their moves based upon certain known facts and odds. Unlike many homeowners that may be foreclosed on...many of them moved into deals that could never work out for them in their favor.

A budget could have laid out everything for them even before they went in on the home. A home should never be purchased on impulse or whim. The ability to buy a home, does not mean you should move forward. Down payments, monthly payments are only part of the big picture. There are many other monthly expenses that have to be allotted for in a budget. The math never lies. Before a person buys a home is the time to look at the math, once you are in the home it is pretty much too late. Many persons are finding this out the hard way that you cannot flip an expensive home in a six months or a year if every one of your neighbors are trying to do the same thing too.

This is especially true for first time home-buyers in a shaky economy and high unemployment.. Before you buy a home have a plan! make sure it is your plan...one that you are comfortable with and do not feel you are pressured into it.

Start with the right mortgage that you can afford. A mortgage payment is one thing, but the reason a 30 year fixed rate became so popular after the last great depression is that it is a budgeted mortgage. It provides a fixed rate payment for the term of the loan. Principal, Interest, Taxes and Insurance are all provided for. If you know that your payments are for the next 30 years, you can plan around it. The secret is you pay it down, and NEVER borrow against the equity! Don't have enough money for a down payment? Get a second job! Try to put down the most possible, again...pay it down.
Assess Your Finances. Once you know what your monthly payment is now you can look at all the other items in your life. Income, taxes and expenses. Some expenses may be fixed, and others will fluctuate. It is the monthly expenses that are most important. Sometime they are not constant. In summertime the air conditioning usage will be higher, and so will your electric bill. In the winter Your electric bills may go down, but your gas or oil bill will rise due to heating. Water usage may rise. There are many fees that are necessary and others that are not.
Know Your Financial Obligations:Home insurance, electric, gas, sanitation, water and sewer will fall into this category. Cable tv is optional. Then there are expenses of home maintenance, auto payments, car insurance, hospitalization, the cost of maintaining a cars(s), fuel, car insurance, registration, parking tolls, food, medical, personal care, taxes and more. On top of this is you should have a good nest egg or an emergency fund. I would suggest at least 6 months in the bank!
Don't Have a Budget? Get one! Plan it out! Download a free Family Budget for Microsoft Excel

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Marketing Atlanta Real Estate – An Insight to a Generational Gap.

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Mon, 16 Nov 2009 10:21:16 -0600

No matter how much hype we have in Atlanta Real Estate about the buyers in the current market, one thing everyone is in agreement on is that the largest percentage of Atlanta Real Estate sales is still going to the first time homebuyers. This is the generation of current home buyers that instead of sports after school or building go carts made of crates from produce stands - after school they were busy gaming. That is their recreation and entertainment. This is the generation that grew up online. If they want the news, they do not even turn on the TV. They instead rely on the Internet or cell phone to update their need for more information and faster connectivity speeds. Unlike any other generation, their lives embrace technology and accept it as their way of life. The problem to most real estate agents there is a major disconnect. The average agents age in in the 50's while the average buyer is in their mid 20's. So it is a generational gap that cannot even be fathomed by the experienced agent. We are totally blindsided to how they think, act and make decisions. While the agent is busy writing ads for open houses that will be opened a week from now on a Sunday between the hours of 1-5PM. The "iGeneration buyer" has already found 5 or 6 high quality virtual tours online and has texted, emailed or Twittered this home to others that may be involved in the purchase decision and has already made appointments to see the home. He does not have to wait 5-6 days to see the inside of a home, and sign your guest register while you give them the "Third degree!". They prefer the anonymity that is offered online.

Flyers, directional signage, and classified ads have gone the way of the mammoth and mastodon to this generation of buyers. High Definition video tours online and advanced street level mapping may in time eliminate open houses, perhaps not entirely but the next gen of buyers coming from the Internet generation will view and disseminate not only properties online but surrounding areas before deciding which ones to pursue further. With the trend moving away from the ex-burbs and into the city center or fringe suburbs, it may become location, location, location again instead of the present day price, price, price. With the extension of the $8,000 tax credit, more first time home buyers are in the market again for some time to come - and searching the Internet, the medium they grew up on. They will not be getting their fingers dirty with stale classifieds, or black and white or color real estate magazines. Life as they know it is a "Print free world!" They expect and demand more than a one dimensional marketing approach, and have grown up in a world where they do not have to accept less. The will look to avoid intrusive forms, and try to get to the next level of the game without giving up any of their points. It is only when the prize is in sight will they reveal their identities. Will they be able to find your home? On our Atlanta Real Estate site they will! For over 13 years Atlanta Best Homes has had high ranking visibility on all the major search engines. We recieve over 2000 unique visitors a day!

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Home Buying in America - There's No Place Like Home!

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Sun, 15 Nov 2009 09:41:51 -0600

When I was a kid and a couple married, they saved and saved until they could actually afford a little house. We reckoned 2.5 times your salary minus debt (who had credit cards?) After all, there was insurance, the utility bills, a few sticks of furniture, maybe a fence in the yard if children were in the offing, and always save a little for a rainy day. Friends would come over on a designated Saturday, bring their kids to play in the yard, and they'd help you paint, fix the small plumbing problem, do a little re-wiring and you'd do the same for them. Even if you wanted to buy a home large enough to grow into, banks were so strict on their lending practices you couldn't over buy. Foreclosures occurred when a factory town somewhere out in the middle of Unheardofville shut down the main and perhaps only source of income. When someone purchased one of those foreclosed homes, you generally walked into years of equity. Forget that today. You're lucky if you pay "market value," whatever that has come to mean. People used to have goals - college for the kids, retirement, the odd vacation usually spent at a retired in-or-out-law's home in a neighboring state perhaps.

Twenty-five years ago, it was very common for your Dad to go to work and your Mom stayed home, even if there was only one child. If your Mom got a little part-time job while you and your siblings were at school, that money was gravy. Workers got perks called raises and sometimes a bonus annually, and not just a turkey. Inflation has deflated the housing balloon.

In 2009 we just about have to have dual income households. Since child labor laws have eclipsed the Dickensian England, there's no one else to help with the slack if Mom and Dad both lose their jobs. What does that mean for families now - something's got to give if everything is being thrown on the mortgage such as your retirement. Our parents retired on a decent monthly income that were the benefit of putting in your thirty years. A matching program made retirement idyllic, but if you didn't have that, you still had your pension. Persons did not live or borrow against the equity in their homes.

I'm not touching healthcare with a ten foot pole today, don't get me started.

There's No Place Like Home!

"To thee I'll return, overburdened with care;
    The heart's dearest solace will smile on me there;
    No more from that cottage again will I roam;
    Be it ever so humble, there's no place like Home."
Melody by Henry Bishop

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No Georgia Homestead Exemption? What Gives?

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Sat, 14 Nov 2009 11:28:05 -0600

No Georgia homestead relief? OOFFAAH! It's like getting taken down by an NFL player you never saw coming, although you thought you heard he was in the neighborhood. A friend of mine from Roswell called today, frantic that the tax bill had gone UP. Something to do with that word homestead again. Yesterday, another friend in Gwinnett had just returned from the tax assessor's office. He doesn't want to escrow his taxes, he just pays them in person once a year. SLAM! $460.00 more dollars in taxes than he thought he owed, but he'd been alerted by snail mail and was vaguely aware the freight train was coming, he just ignored the crossing guard lights and bells. So while the Georgia Homestead Exemption lives (for now), expect tax increases. Doesn't that usually occur when property values go up? That's what we all thought.

The Georgia Homestead has provided tax relief to Georgia homeowners in the form of a credit on their property tax bills for many years. However, as in many other states and the the nation...falling tax revenues, rising unemployment has put an extreme burden on many states including GA. The GA state government has scrambled to balance revenue-strapped budgets - Georgia lawmakers approved the repeal of the Homeowner's Tax Relief Grant (HTRG). For most Georgian homeowners, this has already translated into an average increase of between $200 and $300 on each property tax bill. Be prepared for the loss of homestead this year when paying your tax bill, higher mortgage escrows, less government service and higher tax bill in the future.

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Atlanta Short Sales - Patience, Patience, and More Patience.

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Fri, 13 Nov 2009 21:04:48 -0600

Generalities on Atlanta Short Sales:

#1 rule for Atlanta Short Sales: Patience, patience, and more patience.

No matter how many pages of documents you are required to fill out, initial, and/or date and sign, if you want the bank to even consider your offer, Nike - Just do it, don't question it. The entire contract should include ALL paperwork (and some may come later), a copy of your earnest money check, a letter from your lender or a letter from your bank if you are paying cash. If you pile on the special stipulations, ask for closing costs, give a distant closing date, or don't want the property sold in strictly "as is" condition, your chances of consideration are between slim and none.

The term "time is of the essence" will take on new meaning. The bank will want you to jump when they say and then take weeks to get back to you. No rhyme, no reason. While the bank may have given themselves the ability to move the closing date, they will have a "take no prisoners" attitude should you want to change the closing date for any reason, valid to you or not. Let your attorney tear the addenda apart at $200 per hour, send your changes to the bank and kiss the property goodbye.

Don't be under the assumption that a given foreclosure is the deal of a lifetime, most especially if there are two mortgages on the property. I had lunch with a colleague yesterday who is in her 18^th month on a short sale (notice it's not "quick sale"). There's a primary and secondary mortgage and neither bank can agree on anything at the same time. The other side of the coin-if you are willing to do all those repairs to the roof, systems, updating-you might want to look at a great deal with a builder or home listed at fair market value.

There's always that allure of "let's wait and see how far the bank will drop the price." You'd be surprised at how long banks will hold on. Other buyers may say, "let's offer half price and see what the bank says." The bank will issue a resounding "NO!" or merely ignore your offer if the pricing is at market. As the price may drop in the event the market price in the area drops, the powers that be at the bank already have the math figured out.

The coup de grâce - all sides are seemingly settled in, all's right with the world and another offer comes in.

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Get a CLUE – Watch Out For Claims Against Your Homeowner’s Insurance.

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Fri, 13 Nov 2009 19:35:44 -0600

I get it, for 25 years you've dutifully paid your homeowner's insurance and never made a claim. Your neighbors just had some vendor knock on their door, had them view their roof from the street and now they're replacing their roof from the (I love this one) - hail damage. Atlanta is an area where we haven't had moisture for ten years and suddenly, intermittently in the same town, wherever a homeowner was home that day, their roof has hail damage. What a coincidence. Hey, just get the check from your insurance company and go on that vacation you deserve.

Comprehensive Loss Underwriting Exchange or CLUE is a database that records claims for insurance companies, pretty similar to CARFAX reports. All of your home insurance claims are listed and kept for 5 years. Everything is there, the date, type of loss, such as mold remediation. If an insurance company decides that a CLUE report is too risky he can refuse to insure that home. That means the lender won't lend to the prospective buyer of your home unless they can find an independent who will charge them (pardon the pun) through the roof.

Buyers and sellers should order the report and just deal with it up front as it's not insurmountable but may cost you in your sales price or some other concession as the buyer will have higher rates for some time to come.

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REBCRDU Bar Camp in Cary NC was a Fun Time!

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Thu, 12 Nov 2009 09:27:43 -0600

I'm just settling back into my home and surroundings in Atlanta from my trip to Cary North Carolina where I attended my first Rebar camp (Real Estate BarCamp) REBCRDU at the Raleigh/Durham/Chapel Hill NC Raleigh Regional Association of Realtors. It was a 9-4 event, and the socializing started weeks ahead of time online and on Twitter and FaceBook. From Atlanta it was about a 5 hour drive, the weather was great, and my wife Ellen accompanied me. It was a great trip. Once e arrived and checked in we attended the Pre Event - Beer with Bloggers where we had a chance to have some finger foods, and mingle a little with the crowd. I met a lot of old friends and made some new ones. We even got a chance to see a new form of Karaoke called "PowerPoint Karaoke!" It was very novel exercise in thinking on your feet, and speaking impromptu as the slide show progressed. Our own Thom Abbot from Atlanta held his own. He was a braver man than I was. Also in attendance from Atlanta was Lane Bailey, Kathy Drewan, and Patty Keller. They were smart, they car pooled up to Cary. At the Beer with Bloggers event I also had a chance to see Debe Maxwell, Susan Blackmon, and Connie Harvey from Nashville. There were too many people and simply not enough time to mention all. It was a great event.

I participated in Fridays session as a Thought Leader did a session entitled "Strategizing Internet Profit with Website & Real Estate Blogging" It went well, and I revamped the presentation to allow for 25 minutes presentation and 20 minutes of exchange. It was a basics session that shared my fundamentals of running a successful real estate web business. I thought it went well.

I got a chance to meet a lot of other Active Rainer's and had a few moments to talk and meet some new friends. I met Eleanor Thorne the events organizer, and her husband of 30 years. Eleanor was the person that invited me to do a session. I greatly appreciate that opportunity. On Friday, I also had a chance to meet Penny Hull, she is a dynamo for Internet marketing for Stanton Homes in the Triangle NC area. I'm very impressed with the quality of her posts. Just before the session began, I was fortunate enough to get a few moments to meet Brad and Bobby Carroll of Danko Marketing, who is one of the most talented of web designers I know. They do an incredible job designing custom websites, blogs, and offer substance instead of fluff! I had a chance to talk to Jeremy Blanton... a very, very busy man! I can't wait until my next event. I am really looking forward to it. Going to REBAR Camp was a fun thing!

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Atlanta's Best BBQ! Williamson Brothers BBQ an Atlanta BBQ Tradition!

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Wed, 11 Nov 2009 15:26:27 -0600

Looking for the best BBQ in GA? Your search has ended!! Williamson Brothers BBQ in Marietta is the best BBQ in GA or the south! It is cooked right there, not heated in some microwave in the back kitchen! For all those that never lived in the south one thing that is a way of life down here is BBQ and sweet tea! No one in my opinion does it better that Williamson Brothers BBQ right here in Marietta GA! The have 3 locations in Atlanta, the prices are very reasonable, the portions are huge, and the food is great. No matter what you try, you'll love. Full racks of BBQ ribs hickory smoked and with the worlds famous Williamson Bros. BBQ sauce on them, it cannot be beat! Whatever your are looing for they have...chicken, pulled pork, steaks, onion rings, BBQ beans, corn on the cob and sweet cole slaw are all made to perfection here. Come hungry and bring a crowd of your closest friends and relatives!

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Twitter Kings and Queens - You Don't Seem To Sell Much Real Estate!

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Wed, 11 Nov 2009 09:30:40 -0600

One thing that haunts an experienced agent is that when you do a lot a business it is easy to spot the achievers from the wannabees. Perhaps it is the old 80/20 rule. That 20% actually get it, and make a living from it, and the others just pretend. In my own mind, the new real estate social icons in our industry are the "Twitter Kings & Queens!" It does not mean they produce any sales, but rather they've become larger than life and very visible amongst their social media real estate peers. So in my mind, and in the minds of many other experienced agents...questions and concerns are raised about the major disconnects. An old Wendy's commercial used to ask "So where's the beef?" As an industry we must ask claims to fame and success be substantiated, and not just accepted at face value. Unlike years gone past were earnings were a part of the measure of your abilities, the new social media counts "Tweets!"

It should be no surprise to anyone that real estate is an ego driven industry where puffing and bragging have become so trite that they are accepted as normal behavior. Those that follow blindly without can create an almost cult like following in the new fads. However, it does not mean they will survive and prosper. These issues are nothing new in real estate. Rather it is just the media that is new. It's exponentially viral and could be an incredible tool. The new social media can easily boost an individual to gain high visibility, but is their staying power, and profit? Is the "Tweet peak" just an ego high or can it be converted to dollars? It's hard to say, because most never talk about their closed volume of sales. There will always be 'fame junkies' that claim they are the big producers, and those that dream. In life, there will always be those that "Do" and those that talk a great game, but "Never sell real estate!"

The buzz words in real estate these days are, "Twitter, Tweets, podcasts, Facebook, social media, RSS feeds, and Blogs." At first glance these so called real estate socal media appear to be almost random schizophrenic ramblings that make no sense. To me, Blogging seems have the most structure and it is coherant, covers topics of interest, and makes sense. You could gain a major audience from it that will actually bring you business you can close. However from what I see, most of the Blogs, Twitters, and tweets come from non productive agents that do not understand the purpose of what they are doing or why they are doing it. It may leave the beholder to assume Tweets and Twitters are for those in our industry with real estate attention deficit. They are not even maximizing the use of it for viral marketing and SEO.

So there is a disconnect when I listen to a great presentation, between what is being said and reality. "Do they walk the talk?" It is always a good idea to check it out. When when I visit a blog or website it is 'Inactive!' It is a total a disappointment! The last post may have been several months or even a year ago. It's very sad that the presenter it still trying to ride that 15 minutes of fame and make a living out of it. So I am at a loss to explain the euphoria about social media if it cannot be backed up with closed sales and referral fees paid. Talk is cheap. The end game of the social media exercise should be to sell your talents, make a living out of it, and not just to gain personal fame. The bottom line is what is the measure of success? Tweets or Dollars?

On a similar note....several years ago I went to a local seminar on websites, and I listened to a speaker that was a great presenter, but really did not offer any ground breaking advice for those in attendance that actually wanted make money from her ideas. During the seminar she kept mentioning her website, and when I went back to the office...so I decided to look at the website. The interesting thing was it was a real estate site that was abandoned sometime ago. There were missing graphics, and the website was selling juices, vitamins, herbal medicines and nonsense. What a terrible reflection on the talents and industry professional. It was also misleading to those agents that attended the seminar, and purchased tapes and training materials. Making claims of achievement is one thing, but to never have acheived those goals is pretty much a sham. I sometimes get the same feeling when I go online and read posts, (or should I say "Boasts?") The claims are so incredulous that there is a disbelief of the accomplishments, and claims that are made by those posting are doubted. So what message is being sent to the viewers? Are those posting, "Shallow, concieted, clueless, inexperienced, lack knowledge, obsessive compulsive or just plain dreaming?"

The topics we write about and discuss reveals a lot about who we are. So too is the content we Blog about. It is easy to understant why so many that Twitter and tweet do not discuss real estate for their topics. The claim may be that it doesn't have to be about real estate, but the bigger question is why not? What a great opportunity for high ranking SEO, and professional visability. My personal feelings...the reason many do not blog or twitter about real estate is because many do not sell real estate and make a living from it. It is obvious to many they do not understand it.

There could be many great topics to discuss on your Blogs, Twitters and Tweets that may actually bring you a real business - buyers, sellers or a person relocating and looking for your assistance. What a novel idea! Topics could include: contract changes, a discussion of agency, home inspections or inspectors, liability, insurance, defective building products, the importance of title insurance, fixed rate financing vs. adjustable rates, fiduciary to clients, license law, marketing and negotiation strategies are not part of the vocabulary of those that claim their fame of having millions of "Tweets" but no closed sales to back up their wasted time. So In the future perhaps we should judge the "Twitter Kings and Queens" by their closed sales volumes. Performance matters.

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Atlanta Real Estate Prices │ Median Home Price in Atlanta Drops 14.5% in 3rd Quarter

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Tue, 10 Nov 2009 20:59:33 -0600

According to the National Association of Realtors (NAR) that released statistics on state-by-state existing-home sales and metropolitan area median home prices each quarter. The Atlanta Metro area, Sandy Springs and Marietta dropped 14.5% in the 3rd quarter this year for single family detached homes. The median price of a single-family home in the Atlanta metro area was $129,400 in the third quarter, compared with $151,300 in the third quarter of 2008. The median Atlanta home price in the metro area was $171,000 for 2006.

Other cities and metropolitan areas reports can be found here:

Metropolitan Median Home Prices

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Does the Government and Tim Geithner Really Get It?

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Mon, 09 Nov 2009 10:49:55 -0600

"Does the Government and Tim Geithner Really Get It?" I'm sure many of us ask ourselves this question on a pretty regular basis. Tim Geithner's name could easily be interchanged with many others, Greenspan, the presidents, the senators and congressman. What is really scary that in spite all their degrees and accolades they all seem to lack common sense. What we need is something to be fixed for real... so we all could enjoy peace of mind once more. Gee, wouldn't that be nice? It is sobering to think of the phrase, "Physician heal thyself," and then watch this video! Pretty scary? You bet!

Anyway, I just had to share this video I saw online. I really got a few laughs from it, but it also made me think. Let me know your thoughts on this. I would love to hear them. If there is one thing that will turn this economy around, it will be confidence. Obviously Tim is no different than any other person when it comes to his own home and investment.

Here is a link to the post where I read this originally.

The Daily Show With Jon Stewart

Mon - Thurs 11p / 10c

Home Crisis Investigation

www.thedailyshow.com

Daily Show
Full Episodes

Political Humor

Health Care Crisis

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What's Really Behind Less Home Inventory?

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Mon, 09 Nov 2009 08:39:42 -0600

There is no surprise across the nation that the inventory of the number of Atlanta homes for sale is down considerably. While many in real estate are rejoicing in the streets over this supposed sign of recovery, they are not allowing themselves to consider why this has really happened. It is not an anomaly, and it does not mean that the lack of inventory bodes well for the near future of Atlanta real estate. For those that are informed, there is an acknowledgement that Atlanta home buying patterns are being refined and will not return to what many in real estate are expecting. We may not see things return to the way they were for quite some time...if at all.

First of all there are many reasons why there are fewer Atlanta homes for sale for sale. Here are just a few:

Foreclosures: There is a much higher shadow inventory of already foreclosed homes that are on the sidelines because if they were all on the market at the same time - home prices would collapse. The Federal government has introduced neighborhood price stabilization plans to prop up the values of homes - to protect the banks from failure.
No Equity: Homeowners have refinanced their homes and there is no equity for them to sell and move up or trade down.
Negative Equity: Homeowners have refinanced their Atlanta homes and effectively re-affirmed bad debt. They have refinanced for more than the home is worth (125%), and they still have negative equity in neighborhoods were prices are declining. This pool of buyers is locked out of the real estate market until home values rise once more.
Unemployment: Underemployment and those that fear they may soon be unemployed are not in the home buying frame of mind. These buyers are locked psychologically out of the market until jobs are created and unemployment has gone back to normal levels. Full employment as we were used to is not expected again for another 10 years. The real unemplyment rate nationally is estimated at over 16-17%.
First time buyers - the pool of buyers has been exhausted. The concept is too narrow in focus and limited in scope to really work.
There are no buyers: and Atlanta home sellers have resigned themselves to the fact that trying to sell a home in this current market is suicide. Sellers have taken their home off the market in hopes that some future date many be more advantageous for them to sell their home on their terms. (If buyers are not coming into the market in droves with historic 30 year fixed rate loans are available with tax credits - we're in big trouble!)
Real estate speculators and flippers have gotten a reality check - they cannot sell in this current market and break even. Fewer seasoned investors are entering the market - many have opted to rent their properties.
Lease Purchase Agreements: Many desperate Atlanta home sellers think they have an opportunity in lease purchase. They do not, since it has been my experience that over 95% of all lease purchases will never close. That applies even more in this current market - bad or damaged credit will have an even rougher time obtaining a mortgage in the coming years.
Poor advice from Realtors: The markets in the past few years have been inundated with many new Atlanta real estate agents that have no experience to draw on. They are offering advice that is not sound, and the sellers and buyers are following it. This plethora of new Atlanta real estate agents during our Atlanta real estate bubble has added a hugh dysfunctional component into this current real estate market. Homes are still selling, and many sellers are still in positive equity positions.

Rentals: - Homeowners that have rearranged the deck chairs on the Titanic have decided that they will rent their homes until times improve.

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Georgia Bank Failures - United Security Bank, Sparta, GA Fails

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Sat, 07 Nov 2009 22:05:35 -0600

United Security Bank, Sparta, GA failed this weekend. United Security Bank had $157 million in assets and $150 million in deposits and two branches, one branch operatedas the including the branch in Woodstock, GA that operated as Bank of Woodstock. The bank, of Moultrie, Ga., assumed the assets and deposits of the failed bank. United Security Bank failure is expected to cost the FDIC fund an estimated $58 million. The failure of United Security Bank makes the 21st Georgia bank failure this year>Gerogia has had more bank failures than in any other state.

The FDIC press release:

"On Friday, November 6, 2009, United Security Bank, Sparta, GA (including the branch that operated as the Bank of Woodstock) was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver "

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Alpharetta GA Real Estate - Search Homes, Condos, Town Homes, Commercial

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Wed, 04 Nov 2009 22:00:06 -0600

Alpharetta GA is a city in located in north Fulton County, Georgia, 26 miles form the city of Atlanta via the GA 400. The estimated 2008 Alpharetta's population was 49,903. Alpharetta began as a campground, originally known as New Prospect Camp Ground until late 1858. Officially chartered on December 11 1958. The name 'Alpharetta' (supposedly Greek for "first town") served as the county seat of Milton County until the end of 1931 when Milton was merged with Fulton County to avoid bankruptcy during the Great Depression.

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Bad Credit? You Can Get A Mortgage, But You'll Pay Dearly for It!

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Wed, 04 Nov 2009 21:29:24 -0600

Need a mortgage, and have bad credit? You can probably still get a loan, but you are going to pay dearly for it. A loan officer explained the rating system for mortgage rates based on FICO or credit scores and the cost to borrow. While we are used to buyers shopping different lenders for loans, a lot has changed in just a short time. It may be pointless for buyers to shop for better rates if their credit is not the best under this system. It may be like a dog chasing their tail and going nowhere especially if they have bad, damaged or impaired credit. Investors have implemented, "Risk Based Adjustments." Simply stated "Risk Based Adjustments" is the relationship between the an individuals credit score and the loan to value. The higher the credit score the better the LTV. An example: a customer with a 740+ MID FICO will get the best Loan to Value (LTV) adjustment, 95% LTV with no hits to the rates. As the FICO score of the individual applying for the loan goes down so does the Loan to Value, 680-699 scores will be limited to a 90% LTV and a .75 hit to the rate. The lowest acceptable score that will be accepted is the 620 - 639 scores, and even though you can still get the 90% LTV, there is a whopping 2.75 hit to the rate. This confirms that investors are willing to lend, but the customer will pay for it. I thought this was very interesting, and even though I do not make loans, I like to keep abreast of the current trends.

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Real Estate bar Camp RDU in Cary NC Friday November 6, 2009 From 9AM - 4PM

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Wed, 04 Nov 2009 21:27:50 -0600

I am anxiously counting down the moments to the Real Estate bar Camp RDU in Cary NC forward this coming Friday November 6, 2009. I will arrive with my wife Ellen tomorrow evening. I look forward to meeting a lot of new friends and Active Rainers I've not met in person yet! Although I've spone at many reale state conventions, retreats and office get togethers, this will be my first Real Estate bar Camp. I will be participating as a Thought Leader and will be doing a session entitled "Strategizing Internet Profit with Website & Real Estate Blogging" This will be a basics session that will start with the fundamentals of a successful real estate web business in everyday plain language. I am sure I will learn a lot from this session.

Active Rainers - Please Say "Hello" and Identify Yourselves!

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Cash Buyers are Good!

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Tue, 03 Nov 2009 10:53:20 -0600

There are so many novices in real estate today that only understand credit and financing. Forget that for a moment. Financing is harder to get these dasy becaus of rising unemployment, underemployment, and more scutinay from lenders that do not want to take on risk. However, there are still quite a few buyers with cash. Some of these are investors, and persons that feel the money is safer in something that is tangilble like real estate as oppsed to a soft assets in stocks, securities, bonds, and in the banks. So if you have not worked wiht a cash buyer, you need to get ready. Prepare your sellers, let them know that they are not going to offer you full price. You are now dealing with educated buyers that know the true value of properties. They will make a lower bid to test the market, however do not make the fatal mistake of rejecting the offer outright. Counter the cash buyer with a reasonable counter that shows you are willing to negotiate. Do not posture and counter back with a full price offer. It may be your only offer in this market.

Some caveats in dealing with a cash buyer? Yes, of course there are! They tend to be riskier deals if you do not understand the process, and do your homework! They love dealing with new agents, because they can manipulate them because of their lack of knowledge.

Proof of buyers funds or accounts needs to be verifed ASAP! In writing, print and phone call.
Use board standard contracts - never allow them the use their own contracts!
All items must be in writing. Take no verbals on counters etc.
Ask your broker to review the offer and terms with you and homeowner if necessary.
Do not underestimate the cash buyer, they understand the deal better than you.
In negotiations, don't concede too much too quickly. Cash buyers are the ultimate investor and will smell blood in the water and want more concessions.
Focus on a quick close, but have the seller retain possession until the last possible moment. Never allow a pre-occupancy!
Do not allow a substitution or assignment of contract. Next buyer will not be as qualified.
Realize the buyer is not being guided by a real estate professional - most will choose to be unrepresented buyers.
The secret to a cash deal is a quick close!

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Atlanta Country Club Homes | It's A Great Time To Buy Atlanta Luxury Homes | Atlanta Buyer's Market

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Tue, 03 Nov 2009 10:31:03 -0600

Looking for an Atlanta Country Club home for sale? Do you want a great deal? Have you always wanted to buy an Atlanta luxury homes or mansion? Well your wait is over! There may never be a better time to buy an Atlanta country club homea, golf homes or luxury homes than now! Why? Because right now there are quite a few homes for sale in some of Atlanta's finest Country Clubs! It's a buyers market with some great buys for smart luxury home buyers. Some of the Atlanta luxury country club homes are new, have finished basements, swimming pools, luxury foreclosures homes, bank owned homes, that are vacant and have major price reductions, discounts, and buyer incentives to buy! There are some incredible deals for sale right now in Atlanta's best luxury homes gated communities. As of today November 3, 2009 these are the luxury homes currently offered for sale in Atlanta's finest country Clubs:

Chateau Elan Country Club - 122 homes for sale
Country Club of the South - 80 homes for sale
Laurel Springs Golf and Country Club - 32 homes for sale
St Ives Country Club 47 homes for sale
St Marlo Country Club 63 homes for sale
Sugarloaf Golf and Country Club 100 homes for sale
The Manor Golf and Country Club 39 homes for sale

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Let There Be New Light Fixtures

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) — Tue, 03 Nov 2009 10:11:25 -0600

Success is always in the details. My experience tells me that nothing is more important when selling a home that to pay attention to the light fixtures. I used to specialize in 'expired listings', and nothing ever had a bigger return for the sellers than changing the dated light fixtures. Most other agents never pay attention to it, but nothing will date a home more than light fixtures.

Lighting is subliminal. It is always there, but we never really focus on it. A buyer walking through a great looking home still may feel something is missing...perhaps it is tired lighting that does not yell out "Buy me!"

More often than not... sellers never change the light fixtures in the home since they purchased it. They should, because it's really is a cheap easy fix. So instead...the buyer is left looking at home with very few updates. The home lighting screams out "Cheap!" The builders cheap looking brass fixtures, one light mushrooms, and Hollywood strip bulbs in the master bath actually confirm this. Before it is too late, sellers need to wake up and replace them. They need to walk trhrough their home ans determine what can they change. The cost will be more reasonable than they could believe. It is one of those items that is a must do! Dated fixtures date leave the home without any appeal, and is lost in a time warp of 15 years ago.

For a very reasonable investment, a home can come alive from the entry way, dining and living areas, and even the exterior of the home. Lighting today is very affordable with competing stores like Lowe's, Costo and Home Depot offering some great fixtures at every reasonable prices. Changing dated light fixtures can make a major difference selling a home or not!

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Atlanta Real Estate Blog - Jim Crawford REMAX Greater Atlanta

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Do You Remember When in Real Estate?

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Atlanta Travel - A Shout Out to An Atlanta Local Travel Business

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Don't Have a Budget? Get one! Plan it out! Download a free Family Budget for Microsoft Excel

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Get a CLUE – Watch Out For Claims Against Your Homeowner’s Insurance.

REBCRDU Bar Camp in Cary NC was a Fun Time!

Atlanta's Best BBQ! Williamson Brothers BBQ an Atlanta BBQ Tradition!

Twitter Kings and Queens - You Don't Seem To Sell Much Real Estate!

Atlanta Real Estate Prices │ Median Home Price in Atlanta Drops 14.5% in 3rd Quarter

Metropolitan Median Home Prices

Does the Government and Tim Geithner Really Get It?

What's Really Behind Less Home Inventory?

First of all there are many reasons why there are fewer Atlanta homes for sale for sale. Here are just a few:

Georgia Bank Failures - United Security Bank, Sparta, GA Fails

Alpharetta GA Real Estate - Search Homes, Condos, Town Homes, Commercial

Bad Credit? You Can Get A Mortgage, But You'll Pay Dearly for It!

Real Estate bar Camp RDU in Cary NC Friday November 6, 2009 From 9AM - 4PM

Active Rainers - Please Say "Hello" and Identify Yourselves!

Cash Buyers are Good!

Atlanta Country Club Homes | It's A Great Time To Buy Atlanta Luxury Homes | Atlanta Buyer's Market

Let There Be New Light Fixtures