Important News and Techniques for Today's Real Estate Market

Top 3 Things Sellers Should Know About Short Sales 

Do you owe more on your mortgage than you can sell your property for in today's market?   A short sale may be an option, but you will need your Lender's approval.  And you should know that your lender will not necessarily "forgive" the debt--you should pay close attention to what you sign so that you understand whether your lender is writing down the debt as a concession to avoid foreclosure, or if they're writing it down as a stop-gap until they come back to you for the amount they "forgive".

1. You have to prove hardship.

2. Your credit will be negatively affected (although not as much as a foreclosure).

3. You may owe taxes on the debt.

The April 18th local event at the Centre for Perfroming and Visual Arts in Newnan may be sold out, but there's still time to support your favorite dance team on Coweta's Dancing Stars. 

The leaders as of 4/10/2012 were as follows:

1- Mandy Osburn and Mike Gaddy
2- Steve Swope and Rachel Ferguson
3- Dr. Tina McKay and Lloyd Kanter
4- Tina Prudeaux and Wayne Wilson
5- Andy Brown and Barbara Seaman
6- Patrice Evans and Tony Duke

GOOD LUCK TO ALL THE DANCERS, BUT as a fellow member of BNI (Business Networking International) I have to use this opportunity to tell you a little about Dr. Tina McKay. 

If you've been looking for a luxury property that says "I've Arrived", but is still environmentally conscientious, look at 415 Golfview Club Drive in Newnan. 

The home is over 3500 SF, and construction is almost complete.  It is a breathtaking home, with custom features that will make you proud to call it "home".

Interior Features & Upgrades

·         3 Fireplaces—One Each In Family Room, Keeping Room, And Master Bathroom

·         Dramatic 19 ‘ + Ceiling In Family Room

·         Handscraped Hardwood Floors

·         Coffered Ceiling In Dining Room

·         Oil Rubbed Bronze Lighting And Plumbing Fixtures

·         Extensive Trim Package Features 2 Piece Deluxe Cove Crown Molding

·         Recessed Lighting

·         Smooth Ceilings

·         Designer Lighting Package

·         Triple Trey / Coffered Ceiling In Master Suite

·         Travertine Floors In Master Bath

·         Frameless Shower Doors

·         Professional Series Stainless Steel Appliances

·         Custom Tile Backsplash In Kitchen

·         High End Soft Close Cabinetry

·         Furniture Style Vanities

·         Granite Countertops In Kitchen And Baths

High Building Standards, The Hallmark Of Quality

·         3 Car Garage

·         Tech Shield Building Wrap For Energy Efficiency

·         Dual Trane Heating & Air Conditioning Units

·         Fiber Cement Siding with Stone

·         Privacy Fence In Back

·         Fiber Reinforced Cement Driveway To Reduce Likelihood Of Future Cracking

·         Front And Back Sod

·         6 Zone Irrigation System

·         Low E, Long Warranty Windows For Energy Efficiency

·          (2) 50 Gallon Water Heaters

Located in Stillwood Farms at Camden Village, this home is less than 2 miles from the new hospital and has one of the largest back yards in the neighborhood! It's a can't miss property, with features like these:

*4 Bedrooms
*3.5 Baths
*Dramatic two story family room with Hardwood Floors and Lots of Natural Light
*Large Master Suite located on the Main Floor, featuring double trey ceilings
*Separate Dining Room
*Rear Patio with Pergola
*Inviting Courtyard Drive
*Sprinkler System
*Smooth Ceilings
*Total Electric for Low Energy Bills
*Stainless Appliances
*Glass Tile Backsplash in Kitchen
*Large, level back yard is FENCED
*2 Car Garage
*Low maintenance Exterior is Vinyl Siding and Stone
*Great curb Appeal

Click here to go to the listing where you can see the virtual tour and lots of photos  :  http://www.bestgeorgiahomesearch.com/defaultlistings.x?ListID=622844

• Detached guest suite includes large bedroom and bath with tile shower
• Genuine Sand and finish hardwood floors
• Extensive trimwork throughout-- judges paneling and extra wide baseboard molding
• Granite countertops in kitchen and all bathrooms
• Screened in porch
• Plantation shutters on every window
• Custom slate courtyard with lovely waterfall feature
• Copper landscape lighting
• Neutral colors throughout
• Stainless appliances in gourmet, "chef-style" kitchen
• Mostly one-level living, with master suite and detached guest suite downstairs and 2 bedrooms plus loft (play area, reading room, or office) area upstairs
• Open concept floor plan
• Custom carpentry and shelving in pantry, master closet, and downstairs coat room

Conveniently located, this luxury home is less than 3 miles from shopping, hospital, and interstate access.   Please call to set a time to see for yourself why you'll want to call 18 Beacon Crest "home".

http://www.bestgeorgiahomesearch.com/OurFeaturedHomes

A year ago, international missions group Africa Inland Mission had international mobilizing offices in Canada, Europe, Korea, Brazil, South Africa, Australia, and New York. Those offices sent over 950 missionaries to the field in Africa.

Their mission was effective, but their U.S. headquarters location in Pearl River, New York, where they had put down roots for over forty years, was no longer ideal. AIM U.S. Director Dr. Ted Barnett said, “It did not allow us to exercise optimal stewardship over our assets.”

Because of housing prices in Pearl River, AIM’s U.S. office staff couldn’t afford to buy homes. According to Dr. Barnett, “The mission bought houses for our staff to live in. Our assets were wrapped up in housing for our staff. We thought we could make better use of our resources in moving to an area of the country where they could buy their own housing.”

Barnett looked at four areas of the country that fit his criteria for a lower cost of living: Dallas-Fort Worth, Orlando, Charlotte, and Atlanta—specifically South of the airport, because of reputed traffic congestion on the North side. The top considerations were proximity to an international airport, a building with meeting space for training, and an abundance of housing within a half-hour proximity of the new headquarters.

Real estate agent Debby Stephens facilitated Africa Inland Mission’s acquisition of their new headquarters building.

Stephens, with the help of the Fayette County Development Authority and Peachtree City, helped AIM understand the potential of Georgia, and specifically Peachtree City.

Stephens showed commercial buildings and homes in metro Atlanta’s Southern Crescent that were within a half-hour drive time of Hartsfield-Jackson International airport. In addition to airport proximity and available building space, “AIM’s priorities were community, housing, quality of life, and healthcare,” she said.

Africa Inland Mission found the perfect building in Peachtree City’s Westpark Corporate Office Park at 600 Westpark Drive. It was 25 minutes south of Hartsfield airport with direct four-lane access making it easy to transport staff and missionaries back and forth. That helped seal the deal for making the move to Fayette County.

They purchased a 22,000 square foot building, previously the corporate headquarters for Goody’s Family Clothing retail chain. AIM received immediate assistance from Peachtree City Planning and Zoning as they built out a large conference, kitchen and dining area where they gather, eat and hold their training events. Debby Stephens said, “It’s the heart for fellowship and prayer time.”

All around, the move to Peachtree City was a blessing. “We were able to sell our main campus in New York for more than we asked for, and the economy created a favorable housing situation in this market,” said Barnett.

Moving to Georgia freed up mission assets wrapped up in staff housing and also enabled staff to have the opportunity to buy their own housing, which was much more affordable in Georgia than it was in New York.

Seventeen of their staff made the move to Georgia and they found qualified employees in the local market who were excited about the mission and vision of AIM. One of those was their real estate agent, Debby Stephens, who joined as Director of Development for AIM US. Now approximately thirty-five local staff make AIM’s Peachtree City headquarters home.

Barnett made his actual home in Fayetteville, which affords a comfortable commute time to the office in Peachtree City.

Advising other international companies, he said, “Peachtree City should be perhaps their first or second consideration in terms of a place to move. It fit all of the criteria that we had. All of the people who have moved here love it in Fayette County.”

He continued, “There are so many amenities. The people are friendly. Housing prices for staff are excellent. The community has a lot to offer. And it’s a very pretty area of the country.”

“It’s an excellent place for a business,” said Barnett. With 20 or 30 people flying to or from Africa every month, the close proximity of a major international airport has made things much easier. With all those airport trips and out-of-town guests, they’ve forged alliances with a taxi company and the Holiday Inn in Peachtree City. The Holiday Inn provides free shuttle service and free golf cart use to AIM visitors.

With this big office, AIM’s largest in the world, they are looking to make a greater impact on Africa.

“The reason we exist is to see Christ-centered churches established among all the peoples of Africa. There are still over 940 unreached people groups just in Africa. We’ve identified 100 of those people groups that we’d like to reach, and we’re active in about 35 of them. We’ve established many churches there. There are millions of Africans worshiping in the denomination we established. The Africa Inland Church members number three to four million,” said Barnett.

Approximately 575 full term missionaries are sent through the U.S. Office and about 135 short term missionaries per year minister in Africa. AIM operates in 22 countries of Africa.

The ribbon cutting for Africa Inland Mission’s new U.S. Headquarters was Tuesday, January 31, 2012 at 10 a.m. The new headquarters is located at 600 Westpark Drive, Peachtree City, GA 30269. For more information on how you can support AIM email or call Debby Stephens at debby.stephens@aimint.net or 1-800-254-0010

The Fayette County Development Authority (FCDA) welcomes nonprofits and corporations searching for a location for their headquarters. Fayette County offers the best quality of life and location in Georgia. For more information about making Fayette County home base for your business, contact FCDA President/CEO Matt Forshee at 770-461-5253 or mforshee@fayettega.org or visit their website at www.fayettega.org

Thank you to the Fayette County Development Authority for this news article.  It was written by Ellie White Stevens.

Beautifully and Lovingly Maintained, this Open Ranch Plan on a Full Unfinished Basement is IMMACULATE.  Really!  Frank Betz Devonhurst plan built by Wedgewood Custom Homes in 2005 for this Original Owner.  Rich Appointments and Extensive Trim Package throughout - Hardwoods, Soaring Ceilings, Granite, and Professional Grade SS Appliances - make this a place that you will be proud to call "Home".  Loft area includes a Bedroom, Full Bath, and Common Area and makes a great Home Office, Library, or Teen Suite. 

All located on the Golf Course in the exclusive Fairgreen Section of Summergrove, and available for you now.  DON'T WAIT TO BUILD A NEW HOME--THIS ONE'S WAITING AND READY, AND WILL NOT DISAPPOINT.

See photos and a virtual tour at http://www.bestgeorgiahomesearch.com/listings/listings.aspx?FileName=defaultlistings.x&ListID=615143

What's Hot and What's Not in Fayette County
What’s Hot	4 Bedroom Home Sales
What’s So Hot About it?	Of 1152 Home Sales in 2011, 495 were 4 Bedroom Homes. 54% of the Homes listed in this segment SOLD, and the average List Price to Sale Price Ratio was a whopping 95%. This category also represented the lowest percentage of EXPIRED listings and the lowest number of Days on Market (108).
What’s Else is Hot	3 Bedroom Home Sales
What’s So Hot About it?	Of 1152 Home Sales in 2011, 334 were 3 Bedroom Homes. 54% of the Homes listed in this segment SOLD. It’s a little surprising that the average Days on Market for homes in this category were higher than the 4 bedroom category, since Fayette County (and Peachtree City in particular), has a growing number of “retirees” who locate in this area. However, it’s further evidence that Fayette’s strong school performance continues to be a draw for multi-person families—why else would they need all those bedrooms?
RENTAL HOMES	The average rental home in Fayette County is $1,700.00
	A mortgage of $200,000 at 4% interest would be $954.83 before taxes and insurance.

CONCLUSIONS AND TRENDS

Fayette County continues to see strong resale value in all segments of housing. The greatest strength is in Peachtree City and South Fayette County sales, with the only real weakness being in North Fayette County. School performance, low crime, and healthy employment are all contributors to the overall health of this market.

WHAT’S HOT AND WHAT’S NOT in the Newnan, Sharpsburg, Grantville, Senoia, Moreland, and Palmetto Market

Real Estate Market Statistics for Coweta County, Based on 2011 Activity

Single Family Homes (General Category)

CONCLUSIONS AND TRENDS

Coweta County continues to lead the pack in VOLUME of home sales, with a strong resale value in all segments of housing. Extreme Western parts of the county, as well as Grantville and Palmetto, are still weak in both length of time on market and sales price. School performance, low crime, and healthy employment are all contributors to the overall health of this market.

According to Realtor.com, Georgia is ranked number 7 for median square footage, based on homes that were for sale in September 2011.    It's interesting to note that Georgia was also the LEAST EXPENSIVE median price range of the group!

Here's who make up the Top 10:

1.  Utah / 2305 SF

2.  Colorado / 2126 SF

3.  Wyoming / 2052 SF

4.  Montana / 2040 SF

5.  Texas / 2031 SF

6.  South Dakota / 1984 SF

7.  Georgia / 1963 SF

8.  Idaho / 1932 SF

9.  Maryland / 1920 SF

10.  Washington / 1903 SF

Georgia Property Disclosure Rules:  What Do You Say When You See Dead People?

So, with Halloween upon us, it seems like an appropriate time to discuss the issues surrounding the sale of homes that have been rumored to be…. well, umm….haunted.

Stranger Things Have Happened

There is an agent in my office who tells the story of a couple whom he met early in his real estate career. This couple was adamant that they would ONLY consider houses that were haunted, and so he focused on showing them older homes with the hope that eventually, they’d find one with a ghost. The couple did eventually purchase a house that was supposedly haunted, but the determination of whether it was haunted was something that their agent was unable to make on their behalf. It came down to a feeling that the buyers had when they were in the house, and was not based on anything the agent said or did.

But That Creeps Me Out

It’s probably safe to assume that most people do NOT want to live with an uninvited, un-paying tenant—regardless of whether the tenant is from this world or another. The question is this: do you have to say something to a potential buyer if there is a rumor that dearly departed Aunt Suzie still lives in the attic?

Basically, it comes down to an issue of DISCLOSURE (as usual)…

From the Georgia Real Estate Commission…”Licensees must affirmatively disclose material defects in the physical condition of the property. However, they are not required to disclose whether a homicide or other felony or a suicide occurred on a property unless a prospect asks them. The key distinction is that felonies, suicides, and infectious diseases generally do not involve the physical condition of the property. Their impact on the property is psychological...... However, the Attorney General's office indicated that when a client or customer questions a licensee as to whether a property "was the site of a homicide or other felony or the site of a suicide," the licensee should "answer truthfully to the best of such [licensee's] knowledge. ”

Disclosure? That is easy, if the issue is physical. The roof leaked? The water heater doesn’t always work? Easy. Disclose it! We think we see dead people? Another thing altogether. So you can see that the rule in Georgia is that hauntings do not have to be disclosed (really, how would an agent truly know?), but—if asked about whether the property was the site of a homicide or other felony or the site of a suicide—an agent should do their best to give a correct answer.

So Where Does That Leave Me?

Well, now! I’ve been in plenty of creepy houses over the years, but I can’t say that I’ve ever had a client ask me specifically whether the property was haunted or whether there was a homicide, felony, etc. I did have a guy ask whether someone had died in the house---it turns out the answer was, “yes”. (He didn’t make an offer on that one.)

So, what would I tell a SELLER facing the issue of what to say about the strange goings on at their property? Disclose it IF you are convinced that your property is haunted. If there’s ever any doubt, you’ve covered your liability.

What would I tell a BUYER, concerned about whether the house comes with a free ghost? Ask! Be specific. And ask whether there has been a violent crime or suicide in the house, since that’s the only tangible thing (let’s hope, anyway) that an agent would be able to research on your behalf.

AND OF COURSE, IF YOU HAVE ANY DOUBTS about how to interpret disclosure laws in the State of Georgia, seek the advice of a licensed attorney.

HAPPY HALLOWEEN!

Jackie Campbell

The Campbell Team at Keller Williams Atlanta Realty Partners

FOR THOSE OF YOU WHO WANT THE OFFICIAL GEORGIA CODE:

The Official Code of Georgia Annotated Section 44-1-16 addresses this issue directly:

(a)(1) No cause of action shall arise against an owner of real property, a real estate broker, or any affiliated licensee of the broker for the failure to disclose in any real estate transaction the fact or suspicion that such property:

(A) Is or was occupied by a person who was infected with a virus or any other disease which has been determined by medical evidence as being highly unlikely to be transmitted through the occupancy of a dwelling place presently or previously occupied by such an infected person; or
(B) Was the site of a homicide or other felony or a suicide or a death by accidental or natural causes;
provided, however, an owner, real estate broker, or affiliated licensee of the broker shall, except as provided in paragraph (2) of this subsection, answer truthfully to the best of that person´s individual knowledge any question concerning the provisions of subparagraph (A) or (B) of this paragraph.
(2) An owner, real estate broker, or affiliated licensee of the broker shall not be required to answer any question if answering such question or providing such information is prohibited by or constitutes a violation of any federal or state law or rule or regulation, expressly including without limitation the federal Fair Housing Act as now or hereafter amended or the state´s fair housing law as set forth in Code Sections 8-3-200 through 8-3-223.
(b) No cause of action shall arise against an owner of real property, real estate broker, or affiliated licensee of the broker for the failure to disclose in any real estate transaction any information or fact which is provided or maintained or is required to be provided or maintained in accordance with Code Section 42-9-44.1. No cause of action shall arise against any real estate broker or affiliated licensee of the broker for revealing information in accordance with this Code section. Violations of this Code section shall not create liability under this Code section against any party absent a finding of fraud on the part of such party.

We're all so excited about the new Piedmont Newnan hospital coming to town, as well as the Cancer Treatment Center of America that will be locating in Newnan soon.  Many physicians who are relocating here have inquired about special loan programs that are available to them, and I wanted to take a minute to let you guys know about this program in particular...

SunTrust Mortgage has created "The Doctor Loan Program". 

• For licensed medical physicians who have completed their residency within the last 10 years:  up to 100% financing for loan amounts up to $650,000, maximum loan amount of $1.5 million
• For Residents, Interns, and Fellows:  up to 100% financing, maximum loan amount of $417,000
• No mortgage insurance
• Fixed rate and adjustable rate loans with interest only options
• Competitive pricing and special relationship discounts

Janet Farmer, a senior loan officer with Sun Trust Mortgage, is my source for information on this financing offer for doctors.  She can be reached at 770-274-4126, or visit her online at www.suntrustmortgage.com/jfarmer 

If you are looking for a home that is BRAND NEW, never lived in, we have it!  What?  You also want it to be less than $230,000?  In the Northgate High School District?  1.6 acres?  AND LOADED WITH UPGRADES?  Yep, still have it here. 

Hardwood floors, with 2 bedrooms PLUS the master suite on the main floor, and 2 rooms upstairs.  Granite in the kitchen and all bathrooms, oil rubbed bronze lighting and plumbing fixtures. 

CLICK ON THE LINK TO SEE PHOTOS AND MORE DETAILS.

http://www.bestgeorgiahomesearch.com/listings/listings.aspx?FileName=defaultlistings.x&ListID=441209

Soooo.... you're tired of seeing homes where "Absolutely Nothing Wrong" really means "Absolutely Nothing Wrong... that a bulldozer wouldnt fix?"  It's ok, we have the cure for that! 

The cure is a house that is on a cul-de-sac lot, that is LESS than a year old, and has dreamy upgrades for LESS MONEY than you'd pay to have it built ground up.  Oh, did we mention it's in the Northgate High School District?  Oh, and we did say it's almost new construction, right?  The address is 68 Misty Creek Cove, Newnan, Ga  Call to see it!

CLICK ON THE LINK TO SEE PHOTOS AND MORE DETAILS ABOUT THIS GREAT NEW CONSTRUCTION HOME IN THE NORTHGATE SCHOOL DISTRICT

http://www.bestgeorgiahomesearch.com/listings/listings.aspx?FileName=defaultlistings.x&ListID=561478

We found it! 

If you have been frustrated because you weren't able to find a house on a basement with all the things you wanted--granite countertops, a fenced back yard, a cul-de-sac lot, a kitchen that opens to a GREAT family room, and ready for you to move in!--- take a deep breath and relax.  We got this! 

It's at 98 Barrington Ridge Court in Sharpsburg.  http://www.bestgeorgiahomesearch.com/listings/listings.aspx?FileName=defaultlistings.x&ListID=543653