If Its Wednesday, It Must Be Market Conditions Wednesday!

Spotlight on ROSWELL!

WOW! The week went fast! I’ve been out showing property all week and wrote a contract this afternoon. Who says the market isn’t moving?

Wednesday again! If you have been following this Blog, you know that one of my New Year’s resolutions is to provide a consistent Market Snap Shot of one of Atlanta’s metro cities each Wednesday all year. With the completion of this one, I’m 4 for 4 in 2011!

In 2010, I started spot-lighting individual cities in the Atlanta metro area. As the year progressed, this project didn't get the weekly focus that was originally intended. I'm proud to say, we're still on track to do better in 2011!

In 2010, we reviewed market conditions affecting the cities of Acworth, Alpharetta, Atlanta, Austell, Ball Ground, Canton, Cartersville, Conyers, Covington, Cumming, Dallas, Dunwoody, Holly Springs, Hoschton and Kennesaw. On January 5th we added the city of Lawrenceville to the list. On January 19th we reviewed Marietta and last week we looked at Powder Springs.

Today the spotlight is on the city of ROSWELL.

Roswell, GA is centrally located just north of Atlanta in north Fulton County. Some areas of Roswell are actually located in Cobb and Cherokee Counties and pay taxes to those counties rather than Fulton. Roswell is an affluent city with a progressive and small-town feel. The city boasts a strong sense of family and community as well as excellent schools and a truly great park system including the Chattahoochee River National Recreation Area which is part of the National Park System.

To give you a frame of reference, it might interest you to know that as I write this there are currently 61,411 homes on the market and actively listed in the entire Atlanta metro area today.

Likewise, according to the FMLS, there is a total of 615 single family homes actively listed and on the market in Roswell. There are also 168 condo / town homes on the market and actively listed in Roswell today.

Actively Listed Single Family Homes
This week, actively listed single family homes in Roswell range in price from $44,900for a 2 bedroom/1 full and 1 half bathroom "fixer-upper" property in Mountain Park built in 1949 to $5.75 million for a beautiful European Traditional estate home on 4+ acres with amenities and comforts too numerous to mention here. It is worth noting that there are ONLY 8 single family homes in Roswell listed under $100,000.


Actively Listed Town Home / Condos
This week in Roswell there are currently 168 condo / town-home properties actively listed for sale. These homes range in price from $29,999 for a 2 bedroom/2 full bathroom 1-level home in the Roswell Springs complex, built in 1980. This home would be ideal for a first time buyer. The property does need a coat of paint but other than that you’ll be free to explore all the Chattahoochee has to offer - trails, parks, water activities & more! It’s a simple and easy pop on GA-400 to get to interstates. Compare that to the highest priced condo/town home property listed in Roswell at $585,000 and located in Founders Mill. Built in 2003, this home offers 4 bedrooms/4 full and 1 half bathrooms in 3,400 square feet. This is an awesome end unit with a 2 car garage. Home features all hardwood floors, theatre room w/ bar, built-ins galore, gourmet kitchen with stainless steel appliances, granite counter tops, large private garden, plantation shutters, designer fans and is convenient to walking trails and historic Roswell.

PENDING SALE
On January 26th at 5:12PM, there are currently 106 single family homes Pending Sales in Roswell ranging in price from $80,000 to $539,000. Likewise, there are 20 Condo/Town-Homes Pending Sale today in Roswell priced from $65,000 to $335,000.

SOLD Properties -- Single Family Homes
From January 1st 2010 through December 31, 2010 a total of 879 single family homes SOLD and Closed in Roswell. The highest priced home to sell in Roswell during the year was originally listed at $1.475 million and sold for $1.405 million or 95% SP/OLP%. It closed after 322 days on the market on 4/26/2010. The lowest priced home to sell during the year is located in the Mountain Park area of Roswell. It was originally listed at $15,000 and ultimately sold for more or 105% SP/OLP at $23,000. This was a “fixer-upper” needing major renovations. The home was an adorable fixer upper cottage style home with 3 bedrooms and needed repairs. The buyer paid 100% cash and the property sold after 241 days on the market and closed on 10/29/2010

It is worth noting that during the year there was a total of 16 single family homes sold in Roswell under $100,000.

During the month of December 2010, 60 single family homes were sold and closed in Roswell. These homes ranged in price from $60,000 to $1.12 million.

SOLD Properties -- Condos / Town Homes
Between January 1st 2010 through December 31st 2010, a total of 190 condo / town homes were sold in Roswell. Priced ranged from $15,500 to $250,000.

From December 1st through December 31st, 20 condo / town home properties SOLD and closed in Roswell. Prices ranged from $27,000, to $274,000.

As you can clearly see, homes are selling in ROSWELL, GA. Call me for a tour of Roswell homes or questions regarding the Roswell or Atlanta metro real estate market.

Sara Hibbard is a licensed Realtor in the state of Georgia. Sara is available to answer your many questions at any time. Call Sara at 770-399-8108 or e-mail her at sara@SaraHibbard.com. Sara Hibbard is Glad Georgia Real Estate Is On Your Mind!

Pre-Sale Renovation: Home Seller Do’s and Don’ts

Recently I have seen evidence of too many home improvement and renovation projects gone bad. As a result, this subject has been bugging me for several weeks.

My biggest "pet peeve" might be the "You Can Do It, We Can Help" slogan that Home Depot uses to encourage home owners to do their own home renovations. I love feeling warm and cozy and knowing Home Depot can help me do almost anything around my house. However, unlike some folks, I know my limits. I know when a job is just too big for my capabilities. Too often I see hardwood floors that someone thought they were qualified to install. The problem is the floor looks like an armature did the job. If your project is destined to look and feel amateurish, you need to seek help from a qualified and certified professional contractor.

Don't get me wrong! I love the fact that Home Depot and Lowes have been able to challenge, encourage and guide home-owners through (what should be) simple home renovations. My pet peeve comes when home-owners, in spite of the encouragement they received, didn't know their limitations. Lately I have seen some projects that have gone horribly wrong. But this is another blog subject for another day.

Today, RIS Media has a great article about Home Seller Do's and Don'ts in today’s market. This comes to my mind because of a conversation I had with a lady earlier today. She told me that Realtor's have told her that she must add stainless appliances and granite counter tops to her kitchen. She doesn’t have the money for a huge renovation project. Her home is modest. Not very big -- about 1500 square feet and 15 years old but very well cared for. To suggest that this women needs to spend $8,000 or more on her kitchen is ridiculous in today’s market. Clearing clutter and downsizing furniture will help this lady (and most other sellers) in making their home "show ready" for a speedy sale.

Today's RIS MEDIA article is very timely and for that reason I share it with you now.

Pre-Sale Renovation: Home Seller Do’s and Don’ts

RISMEDIA, January 25, 2011—You’ve probably seen those depressingly cheery home-themed TV shows: a couple needs to sell their house, they have an outdated kitchen, and a designer comes in and proceeds to convince them to renovate the kitchen into a stainless-steel-clad shrine to culinary greatness—for tens of thousands of dollars. In an ideal real estate market, that would add value, but in today’s market, expensive pre-sale renovations, for the most part, aren’t worth it. The numbers bear this out: In general, a home remodel will cost quite a bit more than you’ll get back when you sell; remodels done in 2010 will only recoup 60% of their price when the house is sold, according to Remodeling magazine’s 2010 Remodeling Cost vs. Value survey, done in partnership with the National Association of REALTORS® (NAR).

Two of the areas that potential buyers are often most pressured to remodel before selling are the kitchen and bathroom. Here, we’ll tackle both of those rooms, and let you know what to do—and what to avoid—when considering a pre-sale renovation:

Kitchen
-Don’t put in expensive professional-grade cook’s appliances. You may choose a tricked-out, $10,000 Wolf stove, but the buyer may be a loyalist to Viking. Or, even worse, the potential buyer might be a take-out addict.

-Do, however, service the appliances you have, so that they work perfectly. Clean your oven! And, if you have seriously outdated appliances that can be replaced for $1,000 or less (like swapping a dingy old fridge for a basic new one), that’s a good idea. Similarly, if there are any appliances that you lack, which most buyers consider essential, it makes sense to buy one (like a dishwasher—you can get a nice model for under $1,000).

-Don’t replace your cabinetry entirely—even if it’s a little outdated. It’s just too subjective. You might think sleek, white Scandinavian cabinets are the way to go, but you’ll be in a bind if your potential buyer prefers dark wood.

-Do invest in cabinet refacing if your cabinets are extremely outdated. Many refacing companies will give your cabinets a fresh façade for well under $2,000, and it’s a good investment in creating a positive impression of the room without doing a pricey knock-down.

-Don’t go granite crazy. Or marble. Or etched-Murano-glass-accented tile. Spending thousands of dollars on a new countertop and backsplash is downright dangerous, as there are so many different options these days, it’s impossible to find one that will please most people.

-Do hire a professional cleaning company to come in and make what you have sparkle. While this won’t magically make your tile look magazine-spread-worthy, it will certainly make it look a lot better, as discoloration from age often makes tile look even worse.

Bathroom
-Don’t do expensive tub/shower repairs or replacements. Just like with the big-ticket kitchen fixes, this is a matter of taste. If you put in a round jetted tub, what if the buyer wants square? And is an amethyst-crystal steam shower really something everyone will love?

-Do replace dated bath and shower fixtures; this can be done generally quite inexpensively. For instance, if you have a 30-year-old, tiny showerhead, replacing it with a large, rainwater-style model will lend a subtle spa-like quality without costing a lot.

-Don’t replace your smallish vanity with a new, built-in model. A lot of remodelers emphasize the intrinsically relaxing qualities of having all your toiletries, towels and even reading material beautifully organized in one big unit made of high-end wood, marble and chrome. And it is certainly beautiful. But it’s also a risky choice, and a matter of taste.

-Do freshen up the vanity area. Invest in a big mirror and put bright lights over it. And a few hundred dollars spent on a nice faucet is well worth it, as, like the showerhead, it’s a true basic—and updating the basics, in most homes and markets, is all you should be focusing on.

Other tips for redoing your kitchen and bathroom frugally

Kitchen:
-Declutter your counters. A disorganized kitchen is a buyer-deterrent. Clean up the counters and pare down countertop items to the essentials—toaster, microwave, coffee pot and not much more than that.

-Keep your pantry and cabinetry clutter-free too. You don’t have to alphabetize your cereals—just know that potential buyers will probably open those cabinets, so they won’t want a ladle falling out on their head.

-Give your kitchen table or breakfast bar some life. It’s simple—placemats, a colorful vase or two and a tasteful flower arrangement will reinforce the idea that the kitchen is the heart of the home.

Bathroom:
-If you want to add a little life to the wall, try a simple, straight-lined wood or stainless-steel floating shelf with a few candles on it. It’s an elegant, boutique-hotel touch that doesn’t cost much.

-Toss down a colorful floor mat. Bathrooms are often devoid of color; this is a great way to add that color, and a little warmth.

-Again, clear clutter. Even your beauty essentials shouldn’t be on the counter if you’re in the open house stage.

Sara Hibbard is a licensed Realtor in the state of Georgia. To view 9 videos on how to stage every room of your home for sale, visit my website located at www.SaraHibbard.com. These videos are each only about 4 or 5 minutes in length, but you will gain valuable insight on how to stage your home for a speedy sale. Sara Hibbard is available to answer your many questions at any time. Call her at 770-399-8108 OR e-mail Sara at Sara@SaraHibbard.com. Sara Hibbard is Glad Georgia Real Estate Is On Your Mind!

If Its Wednesday, It Must Be Market Conditions Wednesday!

Here it is Wednesday again. One of my New Year’s resolutions is to provide a consistent Market Snap-Shot of one of Atlanta’s metro cities each Wednesday all year. With the completion of this one, I’m 3 for 3 in 2011! YES! I'm on the right track!

As you may recall, I started spot-lighting individual cities in the Atlanta metro area last year. As the year progressed, this project didn't get the weekly focus that was originally intended. We are still on track to do better in 2011!

In 2010, we reviewed market conditions affecting the cities of Acworth, Alpharetta, Atlanta, Austell, Ball Ground, Canton, Cartersville, Conyers, Covington, Cumming, Dallas, Dunwoody, Holly Springs, Hoschton and Kennesaw. On January 5th we added the city of Lawrenceville to the list. Last week we focused on the city of Marietta.

Today the spotlight is on the city of POWDER SPRINGS.

Powder Springs, GA is located in Cobb and Paulding Counties. The population was 12,481 at the 2000 census. Census estimates in 2005 showed 14,507 people living in Powder Springs. Geographically the city has a total of 6.3 square miles. Powder Springs offers residents a great trail system including the Silver Comet Trail for hiking, biking and jogging enthusiasts.

To give you a frame of reference, it might interest you to know that as I write this there are currently 60,449 homes on the market and actively listed in the entire Atlanta metro area today.

Likewise, according to the FMLS, there is a total of 553 single family homes actively listed and on the market in Powder Springs. There are also 32 condo / town homes on the market and actively listed in Powder Springs today.

Actively Listed Single Family Homes
This week, actively listed single family homes in Powder Springs range in price from $11,900 for a 1 bedroom/1 bathroom ranch style "fixer-upper" built in 1954 to $1.57 million for a beautiful 27+ acre estate with rolling pasture, 3+ acre lake, 3 bedrooms, 2.5 bath cedar home. Bring the horses. This home is perfect for horses with its barn which includes electricity and water. There is an unfinished space upstairs that is framed for an additional 2 bedrooms and a full bath. This area has a new hot water heater and stainless appliances.


Actively Listed Town Home / Condos
This week in Powder Springs there are currently 32 condo / town-home properties actively listed for sale. These homes range in price from $14,900 for a 2 bedroom/2 full bathroom 2-story town home in the Whispering Glen Complex, built in 1984. This home needs work and is currently bank-owned. The highest priced town-home in Powder Springs this week is located in The Haven at Lost Mountain. This move-in ready home with a finished daylight, walk out basement also features a patio and 3 bedrooms and 2 full bathrooms. The main level is finished with beautiful red oak floors, granite counter tops and exquisite crown molding. This home is currently listed at $263,725.

PENDING SALE
On January 19th at 11:33AM, there are currently 106 single family homes Pending Sales in Powder Springs ranging in price from $25,000 to $950,000. Likewise, there are 5 Condo/Town-Homes Pending Sale today in Powder Springs priced from $14,900 to $169,900.

SOLD Properties -- Single Family Homes
From January 1st 2010 through December 31, 2010 a total of 641 single family homes SOLD and Closed in Powder Springs. The highest priced home to sell in Powder Springs during the year was originally listed at $699,900 and sold for $596,900 or 85% SP/OLP%. It closed after 96 days on the market on 9/30/2010. The lowest priced home to sell during the year was originally listed at $17,900 and sold for $11,500. This was a “fixer-upper” needing major renovations. The home sold for 64% SP/OLP%. The buyer paid 100% cash and the property sold after 15 days on the market and closed on 2/16/2010.

During the month of December 2010, thirty-two single family homes were sold and closed in Powder Springs.

SOLD Properties -- Condos / Town Homes
from January 1st 2010 through December 31st 2010, a total of 36 condo / town homes were sold in Powder Springs. Priced ranged from $15,500 to $250,000.

From December 1st through December 31st, 3 condo / town home properties SOLD and closed in Powder Springs. Prices ranged from $72,000, to $88,000 to $99,900.

As you can clearly see, homes are selling in Powder Springs, GA.

Sara Hibbard is a licensed Realtor in the state of Georgia. Sara provides a market snap-shot of a single city in the Atlanta metro area each week on Wednesdays. Sara is available to answer your many questions anytime at 770-399-8108 or e-mail Sara at sara@sarahibbard.com. Sara Hibbard is Glad Georgia Real Estate Is On Your Mind!

Housing Industry Readies Mortgage Tax Break Fight

You better hope and pray that some how the housing industry is able to appeal to Congress to leave their hands off the mortgage interest deduction for home owners. It's hard to imagine but several members of Congress have proposed to end the mortgage interest deduction along with several other housing-related tax breaks. Once again, RIS MEDIA has a pertinent article that affects all home owners and those considering the purchase of home ownership. This is an important subject and I share it with you today. Please encourage and appeal to your congressman to leave the deductions alone.

RISMEDIA, January 18, 2011—(MCT)—The housing industry is girding for a fight in Congress to protect the mortgage interest deduction, along with a number of other housing-related tax breaks. The National Association of Home Builders is putting a high priority on lobbying in favor of the mortgage interest deduction, along with breaks such as the capital-gains exclusion on home sales, and has already created a website, http://www.savemymortgageinterestdeduction.com, to begin rallying public support behind its position.

“This is a huge benefit for 35 million taxpayers a year. And the biggest beneficiaries are middle-class families and younger home buyers,” said Robert Dietz, who oversees tax policy and issues for the NAHB.

The mortgage interest deduction has come under scrutiny before, but housing groups have always united against attempts to do away with it. The National Association of REALTORS® and the Mortgage Bankers Association are two other powerful lobbies that have opposed those efforts in the past.

“There are a couple of sacred cows in the tax code, and the mortgage interest deduction is one of those. Politicians take it on at their own risk,” said J. P. Delmore, the senior federal legislative director for the home builders’ group.

The builders were worried enough about the tax situation that they excluded the media from their recent sessions on tax policy at the 2011 International Builders Show in order to formulate strategy.

In a news conference, Dietz and Delmore touched on at least some of what that strategy will entail. “Without question, we will be very aggressive in the media, and we are prepared to do that,” Delmore said.

Another key point housing groups will focus on is the still-shaky state of the housing market. Although estimates vary widely on what elimination of the mortgage interest deduction could mean to home sales, Dietz said at least one analysis shows home prices falling 15% in that event.

But Delmore believes some sort of tax legislation is likely to advance in Congress either this year or next as lawmakers contend with mounting deficits, a presidential commission’s recommendations for reform and the 2012 expiration of tax breaks that Congress merely extended late last year.

One idea being floated is to replace the interest deduction with a 12% tax credit, but Delmore pointed out that for many middle-class taxpayers in the 25% tax bracket, that would amount to a 50% cut.

And any elimination of the capital-gains exclusion could harm older American homeowners, many of whom bank on the equity in their home to bolster retirement savings and need to sell to cash out, Dietz said.

“Any changes will have a huge impact on current and future homeowners,” Delmore said. “Any tax reform would have to be pushed like the health care reform was pushed, or it will fizzle out.”

Delmore said that President Barack Obama’s upcoming State of the Union address could provide clues as to how much impetus tax reform will get this year. The speech is set for January 25.

Sara Hibbard is a licensed Realtor in the state of Georgia. Sara works with folks thinking about buying or selling a home in the north Atlanta metro area. Sara looks forward to answering your many questions regarding the Atlanta metro real estate market in general or specifics regarding the buying / selling process. Sara is easily reached at 770-399-8108 or e-mail her at sara@sarahibbard.com. Sara Hibbard is Glad Georgia Real Estate Is On Your Mind!

What's Next? Analysts Say Rent Increases On The Way

Today, there is a great article in RIS MEDIA that I think will be of interest to many folks renting property. As almost everything, the law of supply and demand affects the rental business too. Those folks who live in apartments could be facing double-digit rent increases in the foreseeable future as a shortage of new multi-family units coupled with a rise in prime renter-age households gives landlords clout they haven't experienced since the mid-1990s, say the development experts. I often share articles that I think will be of interest to folks who read this blog. This one gives us all something to ponder. Here in Atlanta, the rental market is robust and increases have already started to take shape.

RISMEDIA, January 17, 2011 “Demand pressures are building. It’s not bad today because rents have been down the last two years,” said William McLaughlin, an executive vice president with AvalonBay Communities in the Northeast. “But it feels a lot like 1992, when we were coming out of a deep recession…and we ended up seeing double-digit rent increases after that,” he said.

Multifamily developers broke ground on just 114,000 units in the United States in 2010, a figure so low that it wouldn’t account for all the multifamily units lost last year to the wrecking ball or natural disasters, David Crowe, chief economist for the National Association of Home Builders, said at the International Builders Show.

Although expected to grow 16% to 133,000 starts in 2011, that number, too, would leave a substantial deficit in the number of units needed to meet expected demand.

“We’re way behind on the typical allocation of household formations, with people living at home, in roommate situations or staying in the school dorm,” Crowe said. “When they start bursting forward, they are going to need a rental place.”

Whether those 18- to 24-year-olds will find a rental place and whether they will be able to afford it in the coming two or three years is in question. Already there are signs the apartment market is tightening, and in some cities, rents are already going up 7% or 8% per year.

“I’ve never seen so much pent-up demand,” said Jay Jacobson, a partner in the Boca Raton, Fla., office of Wood Partners, a national development and investment firm. Jacobson said his company’s portfolio of rental properties has a 96.5% occupancy rate. In Miami, occupancies are running 98%, and some properties are full with waiting lists. Rents have already started to climb, going up an average 4% in 2010, he said. But in some markets, those increases are 7% to 8%.

Even though builders can see the demographic necessity of building more rental units, the process of bringing apartments from the drawing board to completion is an arduous one. “We’d love to build more, but it is just taking longer to get in the ground with them,” McLaughlin said. “If we went in the ground today, we wouldn’t deliver those units until 2012 or 2013. And if we are just looking today and find a piece of ground, it could be 2015 before we could deliver.”

Financing has been a problem for multifamily developers as well. Although a publicly traded REIT such as AvalonBay can secure funding, most other developers are scrambling to secure debt and equity financing as traditional lenders have backed off the sector.

“All the tools that we have known for so many years just went away. We’ve had to get creative,” said Robert Greer, president of Marlton, N.J.-based Michaels Development, which builds affordable rental properties using low-income-housing tax credits. “When we open a 100-unit project, with three- and four-bedroom units, we will have 800 applicants every single time, wherever we are building across the country,” he said. “Without more investors to provide equity and more capital financing, it is going to be very difficult to meet that demand.”

Sara Hibbard is a licensed Realtor in the state of Georgia. If you are currently renting property, AND have good to excellent credit, this might be the right time for you to consider the possibility of purchasing your own home. While interest rates are still low and hovering around 5%, you can afford more home now than you will be able to afford as interest rates increase. Once interest rates begin to rise, for every 1 point increase, your buying power decreases by $50,000. In other words if at 5% today you can afford a $200,000 house, when interest rates rise to 6%, your buying power decreases to a $150,000 house. Call Sara Hibbard with your many questions and to discuss your wish-list. She is easily reached at 770-399-8108.

Rainy Days & Mondays: Visiting Property on a Rainy Day

I love being a Realtor! I enjoy every facet of the job -- including showing property. I am someone who likes to be "out and about" most of the time anyway, and although showing property is exhausting for some, I actually thrive on visiting and touring homes with my clients. Truly, I enjoy being the "Vanna White" of the metro Atlanta real estate community.

This past week the weather has been anything but ideal for showing property. We have experienced snow and ice in Atlanta which has made it difficult for people to get around. Schools have been closed all week and so too have most businesses. Closings have been scrolling across the TV screen all week and there have been tons of accidents that can be blamed on this weeks ice storm. Regardless, I have some hearty clients who are looking to venture out to visit property on Saturday and Sunday -- regardless of the weather.

Sometimes when we have had a particularly rainy spell, some home buyers, call to say they would rather put off their tour for a sunny day. Home buyers love to visit property on sunny days and most agents prefer showing property on a beautiful day too. Even ugly and distressed properties seem to look better with the sun shining and the birds tweeting a happy song.

I love to stand on the back deck of a home with my client. Silence as we look over the landscape. Everything is quiet, as a bird sings a pretty song. At that moment I love to look at my client and say, "hear that, that's as loud as it gets". My comment is always good for a laugh or two.

Yes, of course, everyone loves to visit property on a beautiful day. However, when someone calls to reschedule their tour due to a rainy forecast, they are typically surprised when I suggest we follow through with our original plans and complete our tour of homes. I believe it is very important for home buyers to see a home in all weather conditions. It is equally important to visit a home at different times of the day or early evening too. Let the rain clouds move in and any home can look completely different than it did on a beautiful day.

Visiting a home on a rainy day or within 24 hours of a down pour gives clues and an education about a house that might be on your "short list". If you want to be informed about the good, bad and ugly aspects of a house you are considering, it is best to visit on a rainy inclement day. Notice pools of standing water on the south side of house? Is there standing water on a sidewalk, driveway or in a window well? Notice how the gutters are reacting to the weather. Are the gutters emptying appropriately or is there a blockage? Notice the soffits underneath the gutters. Is the flashing moving water away from the house or is there missing flashing? What about moisture or leaks in the basement? Did you have to wade through any puddles or standing water to get to the front door? Is the yard landscaped to carry the water away from the house or does it seem to pooling at the foundation? How about drips in the attic or is there evidence of a leak in the roof?

Likewise, it is also advisable that after you have seen a house in daylight, make sure you visit when the sun is lower in the sky. Sometimes shadows or the way low light hits a wall reveals imperfections in walls and ceilings.

Yup! Rainy Days are great times to visit property. I'm ready when you are. Rest assured that regardless of weather conditions on the day of our tour, I will be looking for the imperfections that could influence your decision to purchase. Don't be surprised when I suggest we revisit during low light conditions or when it is pouring rain. After all, I'm looking out for your best interest.

Sara Hibbard is a licensed Realtor in the state of Georgia. Sara can be reached anytime at 770-399-8108 or sara@sarahibbard.com. Sara Hibbard is Glad Georgia Real Estate Is On Your Mind!

Caring For Hardwood Floors

When you are in and out of houses all day long like I am you simply can't help but notice homes that have been miss-treated. One of my biggest pet peeves is the miss-treatment of hardwood floors. It truly isn't difficult to care for hardwood floors. But too often I see floors that have been "pock-marked" by high heels or the constant clicking of Rover's K-9 toe nails. Or how about the houses where someone has glued a carpet to a beautiful floor, or the floors that are begging for a good cleaning. I'v watched children take a key and literally scratch the guts of a hard wood floor all while the Mother lovingly watched this abuse. Dishwashers and refrigerators have been known to ruin hardwoods -- which is one reason why I do not think kitchens are meant for hardwoods. Yes, I'v seen it all. For that reason and for floor lovers everywhere, I share the following article written by Carla Hill.

Caring for Wood Floors

Hardwoods are a warm and beautiful choice for your home. And while hardwoods are easy to clean, they do require a bit of care and maintenance to keep them beautiful through the years. Here are a few basic things to learn about caring for your floors.

The natural enemy of wood floors are sand, dirt, and grit. They scratch and dull wood floors years before their time. This means regular upkeep is needed. Rugs should be vacuumed and shaken out to be sure that dirt is not tracked around the room. Wet mops, swiffers, and even simple sweeping can keep dirt at bay.

Also guilty for scratching? Furniture. You can buy inexpensive protective pads that adhere to the bottoms of furniture legs. These prevent scratches and indentation when furniture is moved. And be sure to lift heavy items. Pushing or dragging can leave marks.

High-heeled shoes can also be damaging to wood floors. If this is a real concern for you, be sure to ask your guests to remove their shoes upon entering, no matter how fabulous they look!

Another danger can be the sun. Wood may experience discoloration over time if left in direct sunlight. To protect your flooring, consider using shades and drapes from time to time.

Next, don't allow water to stand on the floor. If you spill, be sure to quickly mop it up and dry the wood. It is the same concept as a wet glass leaving a ring behind on your wooden coffee table.

As a general rule, avoid waxes (on urethane finishes), oil soaps, petroleum based products, dust cleaners, and ammonia products when cleaning your wood floors.

Instead, use the correct cleaner, ideally one created specifically for wood floors. The best choice is a damp mop, which cleanses gently. Next, be sure to follow the manufacturer's guidelines if you have them. By using cleaning products specifically engineered for your hardwoods, you avoid leaving behind an oily residue that can slowly eat away at your woods.

These simple tips can help extend the longevity of your hardwoods! Now you can enjoy their beauty for years to come!

Sara Hibbard is a licensed Realtor in the state of Georgia. Sara is available for consultation at any time and is easily reached at 770-399-8108. Sara Hibbard is Glad Georgia Real Estate is on Your Mind!

If Its Wednesday, It Must Be Market Conditions Wednesday!

As I mentioned last week, one of my New Year’s Resolutions, is to get a momentum going and produce 52 Market Condition Reports for various cities in and around the metro Atlanta area. With this report, I’m 2 for 2! Now if I can just do 50 more reports! If you keep reading them, I’ll keep writing them.

As you may recall, I started spot-lighting individual cities in the Atlanta metro area last year. As the year progressed, this project didn't get the weekly focus that was originally intended. We are still on track to do better in 2011!

In 2010, we reviewed market conditions affecting the cities of Acworth, Alpharetta, Atlanta, Austell, Ball Ground, Canton, Cartersville, Conyers, Covington, Cumming, Dallas, Dunwoody, Holly Springs, Hoschton and Kennesaw. Last week and for the first week in 2011, we added the city of Lawrenceville to the list.

Today the spotlight is on the city of MARIETTA.

Marietta, GA is located in central Cobb County. Marietta is the county seat. As of the 2000 census, the city had a total population of 58,748, making it one of metro Atlanta’s largest suburbs. Census estimates of 2008 indicate a population of 67,021. Marietta is the third-largest of three principal cities (by population) and is included in the Atlanta -– Sandy Springs -- Marietta, GA metropolitan statistical area. Marietta is steeped in Civil War history and offers lots of cultural attractions. Downtown is the town square and former location of the county courthouse. The square is the site of several cultural productions and public events each year. Theatre in the Square is a professional theater, producing a five-show subscription season as well as summer and holiday shows too. The Strand Theatre has been renovated back to its original design and features classical films and other events. The Marietta Museum of History exhibits the history of the city and county. The museum is home to thousands of artifacts including items from various Marietta residents and businesses. The Marietta Gone With the Wind Museum, also called "Scarlett On the Square", houses a collection of memorabilia related to both the book and the film. Also note worthy and a land mark for directions given by locals in the infamous BIG CHICKEN located on the Cobb Parkway.

To give you a frame of reference, it might interest you to know that as I write this there are currently 60,133 homes on the market and actively listed in the entire Atlanta metro area.

Likewise, according to the FMLS, there is a total of 1,940 single family homes actively listed and on the market in MARIETTA. There are also 393 condo / town homes on the market and actively listed in MARIETTA today.

Actively Listed Single Family Homes
This week, actively listed single family homes in Marietta range in price from $20,900 for a 3 bedroom/1 bathroom ranch style "fixer-upper" built in 1947 to $5.8 million for a English-Tudor luxury estate on 8.5 acres with 5 bedrooms / 7 full and 2 half bathrooms, 5 car garage, swimming pool and amenities too numerous to mention. This home does hold the distinction of being the showcase home for the 2010 Roswell Woman’s Club Showcase Home Tour.

Actively Listed Town Home / Condos
This week in Marietta there are currently 396 condo / town-home properties actively listed for sale. These homes range in price from $12,900 for a 2 bedroom/1 full and 1 half bathroom 2-story town home in the Viewpoint West complex, built in 1973. This home needs work and is currently bank-owned. The highest priced town-home in Marietta this week is located in River Place along Columns Drive in East Cobb. This exquisite home is available fully furnished for $574,900 and offers 4 bedrooms and 3 full bathrooms. The home features a Chef’s kitchen with top of the line appliances; surround sound and beautiful views of the Chattahoochee River National Recreation Center.

PENDING SALE
On January 12th at 10:58AM, there are currently 317 single family homes Pending Sales in Marietta. Likewise, there are 42 Condo/Town-Homes Pending Sale.

SOLD Properties -- Single Family Homes
From January 1st 2010 through January 12, 2011 a total of 2,592 single family homes SOLD and Closed in Marietta. The highest priced home to sell in Marietta during the year was originally listed at $4.5 million and sold for $2.4 million or 53% SP/OLP%. It closed after 194 days on the market on 9/13/2010. The lowest priced home to sell during the year was originally listed at $9,900 and sold for $13,150 after the bank-owned property accepted highest and best offer. This was a “fixer-upper” needing lots of work. The home sold for 133% SP/OLP%. The buyer paid 100% cash and the property sold after 21 days on the market and closed on 2/23/2010.

During the month of December 2010, 213 single family homes were sold and closed in Marietta. Prices ranged from $35,000 to $1 million.

SOLD Properties -- Condos / Town Homes
from January 1st 2010 through January 1st 2011 a total of 378 condo / town homes were sold in Marietta. Priced ranged from $14,500 to $475,000. From November 1st through today,61 condo / town home properties have SOLD and closed in Marietta. Prices ranged from $16,000 to $250,000.

During the month of December 2010, 34 condo/town homes were sold in Marietta. Prices ranged from $16,000 to $260,000.

As you can clearly see, homes are selling in MARIETTA.

Sara Hibbard is a licensed Realtor in the state of Georgia. Call Sara Hibbard for specific information about your neighborhood, city, school district, zip code or additional information about the buying / selling process. Sara Hibbard is easily reached at 770-399-8108 or sara@sarahibbard.com. Sara Hibbard looks forward to answering your many questions and assisting you further when the time is right for you.

7 Habits of Highly Successful Home Buyers / Spenders

Recently I have been bombarded by people wanting to buy a house. Problem is they either have not saved enough for a down payment, or are not qualified to purchase property due to poor credit history. Did you know that only 1 in every 60 people is actually qualified for a mortgage loan? People seem to be amazed that with the state of the economy, lenders aren't receptive to extending credit their way when they have an apparent history of late utility, rent or vehicle payments.

I often share timely and appropriate articles I see on RIS Media and other sources. Here is one that might say it more eloquently than me. Read on.

RISMEDIA, January 11, 2011—(MCT)—Only occasionally does financial success or failure hinge on a single event: receiving a huge inheritance or going broke because you suffered from an expensive medical problem. More often, prosperity and its lack are born of habits, the seemingly small money decisions we make daily.

Over the years, we’ve interviewed many of the top personal finance gurus, including Suze Orman, Dave Ramsey, David Bach, Clark Howard, Jean Chatzky and others. We’ve asked for spending tips from experts on such diverse topics as buying razor blades for your face and snow tires for your car. And we’ve talked to scores of academics who study why we consumers make the spending choices we do.

Over those hundreds of hours of talking about people and money, themes emerge. We’ll call them the seven habits of highly successful spenders, borrowing shamelessly from a best-selling book’s title. These bits of money wisdom might just help you start 2011 on the right financial foot.

1. Care about spending. Money success has just two components: earning and spending. Earning money—from paychecks, investments or running your own business—is more fun to talk about, but the truth is, you can’t outearn dumb spending. Look at all the millionaire celebrities, sports stars and lottery winners who end up broke.

To use a sports metaphor, earning is like offense, with all the exciting home runs, touchdowns and slam dunks. Controlling household spending is like a team’s defense, duller by comparison. But ask any sports fan which matters more for winning championships. It’s defense, in sports and money management.

And while Ben Franklin said, “A penny saved is a penny earned,” he was vastly underestimating the value of not spending. That’s because income taxes didn’t exist in Franklin’s day. Today, a dollar earned is worth maybe 75 cents or less, after all the taxes and other deductions. But make the effort to save a buck, and the entire 100 cents is yours.

2. Sweat the small (recurring) stuff. You’ll often hear, “It’s not worth my time to clip a 50-cent coupon!” That’s hard to argue with. But it’s also misleading, because nobody advocates clipping a single 50-cent coupon. Supermarket shopping ninjas clip coupons regularly, match them to store sales and stockpile items they use. They can save about 50% on their entire shopping bill.

That still might not sound impressive until you apply that savings to how much an average family of four might spend annually at the supermarket: about $10,000 a year on food, cleaning supplies and personal care products, according to the most recent numbers from the U.S. Consumer Expenditure Survey. Saving half that, or $5,000, every year starts to sound like real money.

3. Shop it. Fundamental to almost every spending decision is this: Prices on the same products and services often vary, sometimes wildly. If you don’t compare prices, you’re deciding to be powerless as a consumer. That’s especially true today, when it’s so quick and easy to compare prices online.

4. Get fit. Among categories of household spending, three continue to reveal themselves as prime targets for easy, painless cost-cutting. They are food, insurance and telecommunications, or fit. They are recurring expenses for which prices vary widely in competitive marketplaces. Be liberal in defining those categories. For example, food includes eating at home, dining out and work lunches. Insurance includes car and home insurance and buying extended warranties. Telecommunications might include your wireless phone plan, your Internet and TV service.

5. Know thyself. People are different. Money advice that resonates with one person rings hollow with another. But basic, tried-and-true money advice is valuable, so you must figure out how to apply it to your life.

For example, if you’re a born spender who needs to save money, you need to put savings programs on autopilot. Contribute to a 401k at work or set up direct debits from your checking account to a savings or investment account. That gets the money out of your hands before you can spend it. And avoid temptation by staying out of the mall, canceling store catalogs and unsubscribing to retail e-mail. Ultimately, the idea isn’t to change your money personality but to thrive with the one you have.

6. Keep your eye on the prize. We’re bombarded with marketing all day long: online, TV, radio, billboards, magazines. That means we have to continually tell ourselves “no” to spending temptations right in front of us. That takes a lot of discipline. It’s easier if you have specific reasons to say “no.” Those reasons are financial goals. They not only include such goals as saving for retirement or a kid’s college tuition, they also can include a vacation in the tropics, a down payment on a house or a kitchen remodel.

It’s said that to see what’s truly important to a person, look at their calendar and their checkbook. Are you spending time and money the way you truly want to? If not, you need some goal setting.

7. Know there’s no free lunch. Academic studies show that the idea of getting something “free” sparks an intense excitement in the human brain. But few things are truly free.

You pay for “free” financial advice from brokers in the form of commissions and other fees baked into your investment returns. Your “free” cash-back credit card rewards might be costing you. Researchers at the Federal Reserve Bank of Chicago recently concluded that such cards lead to overspending and debt, dwarfing any cash-back rewards.

And keep in mind the quip that’s often true for “free” online services that have your personal information: “If you’re not paying for it, you’re not the customer; you’re the product being sold.”

These seven habits aren’t the be-all and end-all of money management. Rather, they might be starting points toward a successful 2011 for you and your wallet.

Sara Hibbard is a licensed Realtor in the state of Georgia. Call Sara with your many questions regarding the Atlanta metro real estate market in general or specifics regarding the buying / selling / pre-approval and pre-qualification process. Sara is easily reached by calling 770-399-8108 or e-mail at sara@sarahibbard.com.

Put Your Home On The Market FIRST, Before You Start Looking At Property

Over the weekend I was showing property to some folks who originally indicated an interest in finding a ranch style home. After gaining a good understanding of their "needs" and "wants" list and the features that would give them a "WOW" factor, we set out to look at property.

Since they are pre-approved to purchase property without selling their own home first, their thought is not to sell their current home, but rent it out instead.

Well, over the weekend we were successful at finding their vision of the "ideal home". It's truly a great ranch style home at a very attractive price tag too! New to the market, it meets all of their needs and expectations. Open floor plan. Great kitchen with stainless appliances, center island, breakfast bar and eat-in kitchen with a large pantry, tons of cabinets and granite counter tops too. The family room offers a beautiful stacked stone hearth and fireplace with hardwood floors. The master bedroom and bathroom offer a private oasis with sitting room, huge his/hers walk-in closets, double trey ceilings, spa tub and separate shower, a bay window and door leading to a beautiful patio and large fenced and level back yard. It's in move-in ready condition with brand new carpet, paint and upgrades. Simply a great house that meets their needs and even offers their Yorkshire Terrier's a room of their own as well as room to romp and chase squirrels.

Ranch style homes are not easy to find in the Atlanta area. For that reason, ranch homes are in great demand and typically don't last very long on the market. While I was subliminally patting myself on the back for once again finding my clients the "diamond-in-the-rough" that would excite them and meet all their expectations, my clients threw me a curve ball.

YES! They are elated about the home, the location, the features, EVERYTHING. They begged me to draw up the paperwork. They want to make an offer on the property. As we were signing the paperwork they pulled a 360 degree turn on me. They decided to make their offer "contingent" on their home selling first and prior to the closing date of the new home.

Although I understand their concern regarding their current house and their desire to free themselves from that financial responsibility before entering into a new mortgage; if they had shared this idea with me first, I would have refused to show them property until their home was on the market and experiencing regular showings each week.

If you are considering the possibility of purchasing a new home and you need to sell your current home before purchasing a new one, you MUST get your home listed FIRST, before visiting property.

I am sorry to say that contingency agreements dependent on the buyer's home selling first, rarely work out in favor of the buyer. Usually, another buyer comes along who can make an immediate move. As a result, the first buyer's offer is rejected and the contingency buyer looses out on their "dream home". I have watched this happen all too often. Then the buyer can never find a property that is equal to or greater than the original property he had his eye on.

Sara Hibbard is a licensed Realtor in the state of Georgia. Sara is available to answer your questions and consultation at any time. Call Sara at 770-399-8108 or e-mail her at sara@sarahibbard.com. Sara Hibbard looks forward to answering your many questions and assisting you further when the time is right for you. Sara Hibbard is Glad Georgia Real Estate is on Your Mind!

Potential Buyers Need Help With Their Credit Fitness

Happy New Year Again!

How many resolutions have you made for 2011?

I was at the gym yesterday which is typical for me.

Yes, I'm a regular "gym rat".

I get frustrated with interruptions or if for some reason I am unable to accomplish my daily workout. Each year at this time it is oddly noticeable that even in what are typically "off hours", the gym is loaded with people. It's new people -- people who received a gym membership for Christmas. Their resolution is to "get fit". Their intentions are inspiring. Often, by March or April, it is noticeable the gym is no longer as crowded as it was in January or February. Half of these new folks get acclimated to a gym routine. Kudos to them! And, their schedules have adjusted to the return so they aren't all coming at same time. The other half loses site of the goal. Inspiration dwindles as they fall back to "old ways" or they give up all together. Only to make another resolution next year that will probably be broken yet again.

Just as we must keep our minds and bodies physically fit, we must also keep our credit worthiness physically fit.

Yesterday, I received a call from a first time home buyer. Rita (not her real name) was inquiring about a home in Marietta, GA. I learned Rita and her husband were newly-wed and after a honey-moon in the Bahama's were back in Georgia and ready to start house-hunting. She was sure a home she had just found on-line was perfect for their first home.

When I asked if they were pre-approved for a mortgage yet, Rita avoided the question. She only wanted to talk about the house. Afterall it was the perfect house for starting their life together as a married couple. People get giddy with excitement about picking out counter tops, door knobs and light fixtures. I'll be the first to admit that talking about how you are going to pay for the house is not exactly the "sexy" part of becoming homeowners. I'll save the details of my discussion and consultation with Rita, however, suffice it too say, before you can visit property in 2011 you must be pre-approved and pre-qualified for a mortgage. Again, I realize that "credit fitness" is NOT what people perceive as the "sexy part" of purchasing property, it is imperative to your ability to purchase a home.

Due to current economic conditions, banks are not in a lending mood. You must PROVE to a bank or mortgage institution that you are "worthy" of accepting the responsibility of receiving a mortgage loan. I read somewhere recently that only 1 in every 60 people actually qualifies for a mortgage loan!

Many home buyers now and for many years to come will face tight lending standards. These folks will be required to improve their credit score before they can be prequalified and pre approved for a mortgage. As a consumer, be aware of the following steps you should be taking now to ensure a speedy credit repair to gain lender approval and the best possible rates, when the time is finally right for you to make a move.

Credit Card Wisdom
-Paying revolving credit cards down is generally more beneficial than, for example, paying down student loans, mortgage or auto loans.
-Always leave a 30% or higher gap between what you owe on the card and the card’s limit. Lenders look for this minimum gap.
-Use cards with care even if you pay off balances each month because depending upon statement dates, the lender may see big balances.
-Pay down the cards closest to their limits first for speedier credit repair. The lending bank will then see the “gap” it wants to see.
-Do not ask a creditor to lower credit limits. Generally, carrying smaller balances on several cards is better than one large balance on one card.
-Check your credit card limits to make sure the report is correct. Limits may not be reported on all cards.
-Never make a late payment on credit cards or any loan.

Protesting Items
-Protest any unjust negatives, such as late payments, collections that are not yours, and any items not reported as “paid as agreed,” if you paid on time and in full.
-Protest items listed as unpaid that were included in a bankruptcy, and items older than seven years (10 for bankruptcy).
-Focus first on the larger, newer negatives listed on the report.

It is important not to worry about smaller items like incorrect address information or an old employer listed as current. This is, of course, unless there is the possibility of identity theft or the file is mixed with someone else’s.

This is certainly not an all-inclusive list of the steps that can be taken to improve a credit score, but it is a great start for home buyers who need to focus on their scores before attempting to get preapproved and ultimately purchase a home.

Sara Hibbard is a licensed Realtor in the state of Georgia. Sara will be happy to help you contact a Lender who specializes in your area of need. Call Sara Hibbard anytime at 770-399-8108. Visit her websites located at www.SaraHibbard.com, www.SaraHibbardRealEstate.com or SaraHibbardHomes.com to research the Atlanta metro area real estate market and mortgage information. Sara Hibbard looks forward to assisting you too when the time is right for you.

If It's Wednesday, It Must Be Market Conditions Wednesday!

HAPPY NEW YEAR!

One of my New Year's Resolutions, is to give more time to my Market Conditions Wednesday column!

As you may recall, I started spot-lighting individual cities in the Atlanta metro area last year. As the year progressed, this project didn't get the weekly focus that was originally intended. I hope to do better in 2011.

In 2010, we reviewed market conditions affecting the cities of Acworth, Alpharetta, Atlanta, Austell, Ball Ground, Canton, Cartersville, Conyers, Covington, Cumming, Dallas, Dunwoody, Holly Springs, Hoschton and Kennesaw.

Today the first focus of the year is on the city of LAWRENCEVILLE.

Lawrenceville was incorporated in 1821, making it one of the oldest cities in the metro Atlanta area. According to the most recent census, Lawrenceville has 13.1 square miles. In 2009, there were 29,397 people, 7,484 households and 5,313 families in the city. Children in Lawrenceville attend the Gwinnett Public School System comprised of 8 Elementary Schools, 4 middle schools and 4 high schools.

Lawrenceville is home to one of the premier hospitals in the region, Gwinnett Medical Center. GMC is a non-profit, 500 bed health care network based in Gwinnett County. It comprises two hospitals, plus several supporting medical facilities, with more than 4,300 employees and more than 800 affiliated physicians.

Historically significant buildings in downtown Lawrenceville include Gwinnett Historical Courthouse and Lawrenceville Female Seminary. Also downtown are various landmarks and antique locations. The downtown area includes many restaurants like UPTown Cafe, Corner Stop Cafe, Cosmo's Original Little Italy Pizza and McCray's Tavern on the Square. Downtown also offers valuable living on the square with the new "Cornerstone On The Square" condos and town homes. Lawrenceville's revitalization plan was strengthened in 2005 when the city crafted a unique partnership with the Aurora Theatre (Gwinnett Counties only professional theatre) which relocated from the nearby town of Duluth to a permanent site in downtown Lawrenceville in May 2007 for the opening of it's eleventh season.

To give you a frame of reference, it might interest you to know that as I write this there is currently 58,945 homes on the market and actively listed in the entire Atlanta metro area.

Likewise, according to the FMLS, there is a total of 1,542 single family homes actively listed and on the market in LAWRENCEVILLE. There are also 188 condo / town homes on the market and actively listed in LAWRENCEVILLE today.

Actively Listed Single Family Homes
This week, actively listed single family homes in Lawrenceville range in price from $25,000 for a 3 bedroom/2 full bathroom ranch style "fixer-upper" built in 1975 to $1.5 million for a luxury estate on 12 acres with a soccer field, 4 barns, 6 pastures, heated pool two kitchens, with 7 bedrooms/8 full and 1 half bathrooms and much more. For those buyers looking for investment property there are more than 400 homes in Lawrenceville listed under $100,000.

Actively Listed Town Home / Condos
This week in Lawrenceville there are currently 188 condo / town-home properties actively listed for sale. These homes range in price from $18,900 for a 2 bedroom/2 full bathroom 2-story town home in the Sandlewood complex. The unit was built in 1974and is currently owned by the Department of Veterans Affairs. At the higher end of the price range there are several newly constructed properties (bank owned) located at Cornerstone on the Square. There are currently three properties listed at $315,000 and one property listed at $299,900.

PENDING SALE
On January 5th at 11:02AM, there are currently 366 single family homes Pending Sales in Lawrenceville. Likewise, there are 49 Condo/Town-Homes Pending Sale.

SOLD Properties -- Single Family Homes
From January 1st 2010 through January 1, 2011 a total of 2,077 single family homes SOLD in Lawrenceville. The highest priced home to sell in Lawrenceville during the year was originally listed at $849,900 and sold for $800,000 or 94% SP/OLP%. It was a 100% cash transaction and closed after 172 days on the market on 8/12/2010. The lowest priced home to sell during the year was originally listed at $21,800 and sold for $21,800 or 100% SP/OLP%. The buyer paid 100% cash and the property sold after 4days on the market and closed on 2/24/2010.

During the month of December 2010, 157 single family homes were sold and closed in Lawrenceville. Priced ranged from $35,000 to $624,000.

SOLD Properties -- Condos / Town Homes
From January 1st 2010 through January 1st 2011 a total of 234 condo / town homes were sold in Lawrenceville. Priced ranged from $16,000 to $180,000.

During the month of December 2010, 18 condo/town homes were sold in Lawrenceville. Prices ranged from $26,500 to $160,000.

As you can clearly see, homes are selling in LAWRENCEVILLE.

Sara Hibbard is a licenced Realtor in the state of Georgia. Sara is available anytime to discuss your needs and wants in a home or answer your many questions regarding the Atlanta metro real estate market in general or specifics regarding the buying / selling process. Sara is easily reached at 770-399-8108 or e-mail her at sara@sarahibbard.com. Sara Hibbard is Glad Georgia Real Estate Is On Your Mind!

Paint Offers Inexpensive Way for Homeowners To Freshen & Update Their Homes

HAPPY NEW YEAR!

With 2011 upon us, is it time for you to think about freshening up your home with paint? Once you do it, you'll feel as though you are living in a brand new home. These winter months are a great time to start updating your home and the simple act of a new paint job can inspire and invigorate the whole family.

RISMedia has a great article out today that I would like to share with you. Read on and think about the possibilities for your home.

RISMEDIA, January 4, 2011—Individual style, mixed with budget-conscious decorating will drive 2011 paint color trends, according to Debbie Zimmer, paint and color expert at the Paint Quality Institute.

“There’s no escaping the state of the economy, even for homeowners who want to beautify their homes,” says Zimmer. “Rather than diving into large-scale renovation projects, in the coming year, consumers will search for inexpensive ways to freshen and update their homes. Many will conclude that painting is the perfect solution.”

By incorporating a few new paint colors, either as accent walls or throughout a room, homeowners will be able to enhance their living spaces economically with paint, she says.

Zimmer shares three likely color directions for 2011:

Back to basics
According to Zimmer, “Neutrals provide versatility and allow homeowners to quickly change the look of a room just by adding a few new accessories, without spending time and money to remodel or repaint again. This is the ultimate in practical remodeling, and the time is ripe for it.”

Warm whites, tawny tans, “barely-there” coral, and green are some of the colors that will find their way into countless kitchens, bedrooms, and baths, she predicts.

Well worn hues
Like a pair of favorite jeans, blue will grow in popularity as not just a wall color but also as a ceiling choice. “Well worn hues” are represented by blues across the spectrum, from denim dark to blue-grey.

“Since most blues tend to be calming colors, this hue helps to create a perfect retreat from many of life’s stresses,” says Zimmer. “As a secondary or complementary hue, yellow or yellow-green adds a bit of ‘spunk’ when used in family spaces,” she says.

Shimmer and shine
For thrifty homeowners looking for a bit of sparkle, higher paint sheens and metallic finishes are on the radar for 2011. Don’t be surprised to see spaces such as hallways and living areas painted in a very glossy hue, from top to bottom. Zimmer adds, “More gloss means more reflectivity which means more light. Gloss can subtly create a brighter, more upbeat mood in a home, but at the same time, it adds style and pizzazz.”

Dining rooms and master bed and bath spaces are the perfect areas for this sophisticated choice.

Coupled with the “high shine” trend, gold will return as both an in-demand paint hue and as a key metallic choice.

Zimmer concludes, “Paint color is a homeowner’s best decorating tool. You can change the appearance, the perception of size and even the perception of temperature, through the simple use of paint color.”

For more information, visit www.paintquality.com.

Sara Hibbard is a licensed Realtor in the state of Georgia. Please contact Sara with all your real estate questions. She is easily reached at 770-399-8108 or sara@sarahibbard.com. Sara Hibbard is Glad Georgia Real Estate is on Your Mind!

Pending Home Sales Continue Recovery

Believe It Or Not! Homes Are Selling In The Atlanta Metro Area!

Today, there is a total of 58,657 homes on the market in the metro Atlanta area. That is down from a total of 63,735 on Friday, December 31st. WOW!

Likewise, there are currently 6,664 homes in the entire Atlanta area showing up today as PENDING SALE. And, there have been 5,132 homes SOLD and CLOSED in the metro Atlanta area since November 1st.

Since I subscribe to RIS MEDIA, I often include timely articles in this BLOG for your review and information. Keeping in mind the above local Atlanta metro statistics, I include the following article for your information. If you have any questions regarding the activity in your specific zip code, school district or sub-division, please feel free to call me. I am always happy to supply that information and discuss your individual needs and wants. Read On and Happy New Year!

RISMEDIA, January 3, 2011—Pending home sales rose again in November 2010, with the broad trend over the past five months indicating a gradual recovery into 2011, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator, rose 3.5% to 92.2 based on contracts signed in November from a downwardly revised 89.1 in October. The index is 5.0% below a reading of 97.0 in November 2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said historically high housing affordability is boosting sales activity. “In addition to exceptional affordability conditions, steady improvements in the economy are helping bring buyers into the market,” he said. “But further gains are needed to reach normal levels of sales activity.”

The PHSI in the Northeast increased 1.8% to 72.6 in November but is 6.2% below November 2009. In the Midwest, the index declined 4.2% in November to 78.3 and is 7.7% below a year ago. Pending home sales in the South slipped 1.8% to an index of 91.4 and are 7.2% below November 2009. In the West, the index jumped 18.2% to 123.3 and is 0.4% above a year ago.

“If we add 2 million jobs as expected in 2011, and mortgage rates rise only moderately, we should see existing-home sales rise to a higher, sustainable volume,” Yun said. “Credit remains tight, but if lenders return to more normal, safe underwriting standards for creditworthy buyers, there would be a bigger boost to the housing market and spillover benefits for the broader economy.”

The 30-year fixed-rate mortgage is forecast to rise gradually to 5.3% around the end of 2011; at the same time, unemployment should drop to 9.2%.

For perspective, Yun said that the U.S. has added 27 million people over the past 10 years. “However, the number of jobs is roughly the same as it was in 2000 when existing-home sales totaled 5.2 million, which appears to be a sustainable figure given the current level of employment,” he explained.

“All the indicator trends are pointing to a gradual housing recovery,” Yun said. “Home price prospects will vary depending largely upon local job market conditions. The national median home price, however, is expected to remain stable even with a continuing flow of distressed properties coming onto the market, as long as there is a steady demand of financially healthy home buyers.”

Existing-home sales are projected to rise about 8% to 5.2 million in 2011 from 4.8 million in 2010, with an additional gain of 4% in 2012. The median existing-home price could rise 0.6% to $173,700 in 2011 from $172,700 in 2010, which was essentially unchanged from 2009.

“As we gradually work off the excess housing inventory, supply levels will eventually come more in-line with historic averages, and could allow home prices to rise modestly in the range of 2-3% in 2012,” Yun said.

New-home sales are estimated to rise 24% to 392,000 in 2011, but would remain well below historic averages, while housing starts are forecast to rise 21% to 716,000.

Yun sees Gross sees Gross Domestic Product growing 2.% in 2011, and the Consumer Price Index rising 2.3%.

Sara Hibbard is a licensed Realtor in the state of Georgia. Sara looks forward to assisting you and your family with all your real estate needs when the time is right for you. Sara can be reached at 770-399-8108 or via e-mail at sara@sarahibbard.com. Sara looks forward to answering your questions regarding the Atlanta metro real estate market in general or specifics regarding the relocation / buying / selling process.

Does The Crystal Ball Hold The Answers For 2011

I hear the questions nearly every day.

When Is The Market Going To Get Better?

When Will The Housing Market Turn Around?

If I had a crystal ball, I'd be rich.

I'm also someone who typically sees the glass as half full rather than half empty.

Really it comes down to simple economics and yes, history does repeat itself. When I bought my first house in Massachusetts in the mid - 1980's Jimmy Carter was in the White House. Interest rates, and I'm not kidding here, were 21 percent. People still bought houses when interest rates were high, but as a result we bought relatively cheaper and smaller houses.

The good news is that Georgia has never experienced the housing inflationary values that have always affected New England, New York, California and other areas of the country. As bad as the market may seem, the Atlanta metro area is still a very affordable housing market. You can buy and afford far more house in Georgia than in any of the above mentioned areas. If I had a crystal ball, I suspect (and hope) the ball would continue to indicate that Georgia will continue to offer more affordable housing far into the future.

If you're a potential home buyer now, the Atlanta metro area is still very much a Buyers Market. If you have good credit, you will be very pleased with what you can accomplish as a home buyer. Home prices have come down significantly during the last few years and interest rates are still hovering at record lows. As a result, you can buy more house now, then you will be able to afford in the future. I'm pretty sure the crystal ball will concur.

If you're thinking about buying a home -- this is the time to take action. When interest rates begin to rise -- and sooner or later they will -- they have to based on government spending and economic conditions. For example, if today and at today's interest rate you qualify to afford a $300,000 home, when interest rates begin to rise your buying power will decrease relatively. So as rates begin to rise, you may see your buying power decrease relatively to a $250,000 investment and eventually a $200,000.

I have no idea what interest rates will eventually rise to. I truly hope I am wrong, but I personally think that if history repeats itself and based on current conditions, 21 percent will eventually look like chump change. People will still buy and sell property as they always have regardless of market conditions. We are a society that adapts.

If you are a home seller, and especially if your home has been on the market for several months, it may seem as though there is no end in site. However, you must realize, that the market in Georgia as well as all over the country, is going through a market correction. Values have slipped. Buyers have choices. You may know someone whose home did not appraise for the agreed upon sales price. This is happening with great regularity. As a result the sellers were faced with lowering the price of the house to agree with the appraised value or sit with the appraisal for 6 months to a year.

The good news is that when you finally sell your home (even if at a loss) you will make up for that loss when you purchase your next property. The challenge is to price your home aggressively and appropriately from the moment it goes on the market. Houses that are priced appropriately are selling in the Atlanta metro area. And, if interest rates do go up, Seller's may start to experience a sense of urgency among buyers.

If I only had a crystal ball......

Happy New Year to you and those whom you Love!

Sara Hibbard is a licensed Realtor in the state of Georgia. Sara specializes in working with families relocating to the Atlanta metro area and holds national designations in the areas of foreclosure, short sale, HUD and REO properties. Sara can be easily reached at 770-399-8108 or sara@SaraHibbard.com. Sara Hibbard is Glad Georgia Real Estate is on Your Mind!

Happy New Year!

HAPPY NEW YEAR!

All the best to you and your family in 2011!

Whether you are a potential home buyer, seller or investor, I look forward to answering your many questions regarding the Atlanta metro real estate market in general or specific questions regarding the relocation / buying / selling process. Please check back often as I discuss real estate trends and issues facing the local real estate market. Especially, check in with me on Wednesdays as I discuss the real estate trends affecting a specific city or town in the Atlanta metro area.

Sara Hibbard is a licenced Realtor in the state of Georgia. Ms Hibbard specializes in assisting home buyers and sellers alike with relocation, foreclosures and short sales. Follow this Blog regularly for answers to all your real estate questions. If there is a subject you would like to learn more about, please forward your inquiries to Sara Hibbard at sara@sarahibbard.com or call Sara at 770-399-8108. Visit Sara at one of these websites: www.SaraHibbard.com, www.SaraHibbardRealEstate.com and www.SaraHibbardHomes.com. Sara Hibbard looks forward to assisting you with all your real estate needs when the time is right for you. Happy New Year to you and those whom you love! Here's to a great 2011. May it be a happy, healthy, safe and prosperous new year for you and your family!