Barry's Real Estate Blog

5236 Shasta Way, Marietta GA 30062

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Great location, excellent schools and over $50,000 in upgrades!  This is a fantastic 4 sided brick home built in 1984 with 4 bedrooms and 2.5 bathrooms.  Located in the Marietta section of East Cobb in the Plantation Place subdivision off Upper Roswell Road/Hway 120.  Plantation Place has a total 96 homes and offers newly renovated swim and tennis amenities.

 Overview of the Area:

This home is convenient to the major roadways in East Cobb including Roswell Road, Johnson Ferry Road, as well as I-285,  I-75 and GA-400.  It is located just a few miles from the The Avenues of East Cobb with its pedestrian focused, village like setting that includes retail and restaurants.  The schools are Timber Ridge Elementary, Dodgen Middle and Walton High School, all part of the Cobb County School District.

Click here for a map of this home's location.

Overview of Exterior:

Featuring 4 sides of brick, this home has the classic traditional styled look.The front yard is easy to maintain and level. The backyard is wooded and private. In addition, there is a huge deck off the kitchen and playset in the backyard.

Overview of Main Floor:

As you enter the home, you'll notice the beautiful maple hardwood floors that lead through dining room and into the updated kitchen.  The main floor also has a roomy family room with fireplace as well as a formal living room that can be used as an office and closed off using the French doors

The kitchen was recently updated with new maple cabinets, canned lighting, new granite countertops and tile backsplash.  Off the kitchen is the breakfast area which provides access to the deck.  The deck has a gas line connected to the house and ready for a grille.  Also accessible from the kitchen is the laundry room.

Overview of Upper Floor:

After ascending the front stairs, you will find 4 bedrooms.  The master bedroom is located away from the other bedrooms and has a walk-in closet and second closet.  The master bathroom has a separate jacuzzi tub and shower as well as double sink vanity.

The other bedrooms all feature ceiling fans and are easily located to the second full bathroom.

Overview of Terrace Level:

This home offers a finished, partial basement.

Price:

This home is currently being offered for rent at $1950 per month.  The rent includes full swim and tennis priviledges, and covers pest control.  Pets are negotiable.  The house is also available for lease/purchase or straight purchase.

Enjoy,

The Voice of North Atlanta Real Estate

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We don't typically use vacancy as a measure in the residential real estate market.  That term is more common in commercial real estate or the hotel industry.  Having been a hotelier for 15 years, I get flashbacks when I start to hear about vacancy rate and unoccupied rooms (or homes).

According to an article at Forbes.com, Atlanta ranks third behind Las Vegas and Detroit.  Not exactly the company we are striving to be associated with.  According to the article, the national rental vacancy rate is 10.1% up from 9.6% a year ago; while homeowner vacancy is up from 2.8% to 2.9%.  Still, these trends are not good as empty houses can have an impact on the surrounding homes and areas.

Vacant houses usually suffer from lack of care.  Tell-tale signs include unmowed lawns, newspapers laying in driveways, overstuffed mailboxes, peeling paint, etc.  In the case of a rental property, it is less likely to happen if the owner is trying to rent it.  Unless the owner has abandoned the house, they will maintain it so it shows well and can be rented.  However, in the case of a home vacated by the owner, it is less likely to be maintained if they have no intention of coming back.  In that case, once it goes into foreclosure, the bank should assign someone to manage and market the property.  However, that doesn't maintenance will happen but at least you have a person to contact and deal with.

As the property deteriorates, needless to say, it will make the homes around it less attractive to perspective buyers which may eventually cause home values to drop.  It's important that neighbors keep a careful watch on vacant homes and even help out in keeping up appearances if needed.  If the house is abandoned, no one will complain if you cut the lawn or pick up the newspapers.  If it's listed with a broker, call them to make sure they have a plan in place to keep the exterior looking good and consistent with the neighborhood.  In the end, we are all in the same boat.

15 Most Vacant Cities (per Census Bureau)

Rental Vacancy %                            Home Vacancy %

1. Las Vegas                               16.0                                                  4.7

2. Detroit                                    19.9                                                   4.0

3. Atlanta                                   16.1                                                    4.3

4. Greensboro, NC                 15.0                                                    5.9

5. Dayton                                    21.7                                                   3.6

6. Phoenix                                  19.0                                                  3.6

7. Orlando                                  12.3                                                   7.3

8. Kansas City                          15.2                                                   3.6

9. Indianapolis (tied with #10)    17.1                                         3.2

10. Jacksonville                           14.7                                                 3.6

11. Miami/Ft. Lauderdale        13.1                                                 3.6

12. Chicago                                     11.8                                                 3.7

13. Tampa                                       15.6                                                 3.0

14. Bakersfield, CA                      14.7                                                 3.1

15. Charlotte (tied with #16)    14.7                                                3.0

16. Cincinnati                                  9.8                                                 4.3

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26 schools from across the state were selected a Georgia Schools of Excellence. The schools are chosen from each congressional district and honored in one of two categories: Top 10% and Greatest Gains. Only one school per district may be selected for each category.

Schools chosen for the Top 10% category are recognized as being in the Top 10% of all Georgia schools as measured by assessments in reading and math. Schools chosen for the Greatest Gains category have shown the greatest continuous achievement for the past three years as measured by assessments in reading and math.

Additionally, in order to be considered for the recognition, a school must:

1. Meet AYP for a minimum of three consecutive years
2. Meet or exceed state mean scores in Science and Social Studies
   (with the exception of K-2 schools, which do not test in this area)
3. Not be considered a "Persistently Dangerous School" under
   the Unsafe School Choice Option of No Child Left Behind
4. Offer a minimum of two AP courses (grades 9-12 only)
5. Be in existence for five years

Schools that have been recognized as a Georgia School of Excellence in the past five years are not eligible to win again UNLESS the only school or schools eligible to receive the honor in a certain district have won within the last five years. If no schools qualify in a specific Congressional District, an award is not given.

2008 GEORGIA SCHOOLS OF EXCELLENCE
(School, County System)

GREATEST GAINS

1, Mamie Lou Gross Elementary, Camden
3- tie, Northgate High, Coweta
3- tie, Double Churches Elementary, Muscogee
5, Druid Hills High, DeKalb
6, Manning Oaks Elementary, Fulton
7, Loganville Elementary, Walton
8-tie, Eastside High, Newton
8-tie, Centerville Elementary, Houston
9, Otwell Middle, Forsyth
10, East Jackson Elementary, Jackson
11- tie, Kemp Elementary, Cobb
11- tie, Trion High, Trion City

TOP 10%

3- tie, Huddleston Elementary, Fayette
3- tie, McIntosh High, Fayette,
4, Browns Mill Elementary, DeKalb
5, Kittredge Elementary, DeKalb
6- tie, Timber Ridge Elementary, Cobb
6- tie, Dickerson Middle, Cobb
6- tie, Lassiter High, Cobb
7- tie, Sharon Elementary, Forsyth
7- tie, Brookwood High, Gwinnett
8, Quail Run Elementary, Houston
9, South Forsyth High, Forsyth
10, Davidson Magnet School, Richmond
11, Harrison High, Cobb
12, Savannah Arts Academy, Savannah-Chatham

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New Global Cities Index Ranks 60 Global Cities
Based on Quality-of-Life Factors

Source: Metro Atlanta Chamber of Commerce

Atlanta is now recognized as one of the world's most global cities, according to Foreign Policy magazine.

While New York, London and Paris are still considered the world's most global cities, the list reveals that top-ranking cities face strong competition from growing global cities such as Beijing, Moscow, Shanghai,

Dubai and Atlanta. Only seven other U.S. cities made the list, including Boston, Chicago, Los Angeles, New York, Miami, San Francisco and Washington.

"Atlanta's core strengths as a global city are the airport, our universities and the fact that we have a reputation as a young, hip city for the ‘Young and Restless,' the 25- to 34-year old professionals," says Sam A. Williams, president of the Metro Atlanta Chamber. "And Atlanta's possibilities to grow asa global city are endless as Delta Air Lines becomes the world's largest airline - making Atlanta the most connected on earth."

The management consulting firm A.T. Kearney teamed up with the Chicago Council on Global Affairs and Foreign Policy magazine to review global cities on 24 metric based on business activity, human capital and information exchange.

The first Global Cities Index ranked Atlanta 37 out of 60 on the global cities list. The results, released this month, use a variety of metrics to rank cities according to how global they are, and how they fare in an increasingly competitive quality-of-life battle to attract and retain people and companies.

"The 1996 Centennial Olympics Games in Atlanta gave us worldwide recognition, and the vision to grow into a top global gateway and center for global commerce," Williams added. "Atlanta reached this global ranking through the collaboration and dedication of all of our partners."

What differentiates the A.T. Kearney study from many other studies and rankings is that the study has two categories - cultural experience and political engagement. The study looks at the quality of life in each city, including the level of diverse attractions for international residents and travelers. The Global Cities Index pulls in these measures of cultural, social, and policy indicators, and it offers a more complete pictures of a city's global standing - not simply economic or financial ties.

The inaugural Global Cities Index is published in the November/December 2008 issue of Foreign Policy magazine and is available here.

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2326 Kirk Farm Place, Kennesaw, GA 30152

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Get all of the features you'd expect in a home twice this price.  This is a gorgeous Williamscraft home built in 2004 with 5 bedrooms and 5 and one-half bathrooms.  Located in Kennesaw between Stilesboro Road and Barrett Parkway in The Park At Kirk Farms subdivision, this home combines elegant living in a central location.

Overview of the Area:

This home is convenient to the major roadways including Barrett Parkway, Highway 41/Cobb Parkway,  and I-75.  It is located just a few miles from Marietta Country Club with its legendary golf course, club house/restaurant, tennis courts and swimming pools.  The schools are Hayes Elementary, Pine Mountain Middle and Kennesaw Mountain High School, which is ranked among the top schools in Cobb County.

Town Center Mall, The Avenues of West Cobb, Marietta Square, and Kennesaw Mountain Battlefield National Park are all within 20 minutes.

Click here for a map of this home's location.

Overview of Exterior:

Featuring 3 sides of brick, this home has classic look with rocking chair front porch as well as screened-in, three season porch off of the kitchen.  The lot is level and has a large backyard that is pool ready or great just as it is.  There is also a three car garage with side entry.

Overview of Main Floor:

As you enter the home, you'll notice the beautiful two story entry and antique chandelier.  The dining room is located off the entry and also has a beautiful chandelier.  The main floor offers dark hardwood floors.

Moving through the entry, you enter the a sitting room that connects to the kitchen and keeping room.  The sitting room, which has a coffered ceiling, also provides direct access to the deck overlooking the backyard.  The kitchen is a chef's dream!! It features double ovens, a large island with room for bar seating, granite countertops and maple cabinets.  All the appliances are stainless steel.  The kitchen is open and looks directly into the keeping room which has a vaulted ceiling and fireplace.  The three season porch is also located off this area.

A large walk-in pantry, laundry room with sink are located off the kitchen.  Access to the three garages (one double garage and a separate single car garage) is also in this area.

The main floor features a large master bedroom.  The master has a vaulted ceiling, fireplace and private access to the deck.  The master bathroom is large and features granite countertops, separate vanities and a large walk in closet.  There is also a jacuzzi tub and separate glass enclosed shower.

Overview of Upper Floor:

After ascending the stairs to the upper level, you will see 4 oversized bedrooms each with their own private bathroom! There is also a large private room on the upper level that is perfect for an office or media room.

Overview of Terrace Level:

This home offers a complete unfinished, daylight basement with level walk out access to the backyard.  The basement is ready to be finished.

Price:

This home is currently being offer at $525,000.  This price reflects a true buying opportunity.  Other similar homes in the area are priced into the $700,000 range.  Lease/Purchase is an option at $2200/month.  Call Agent for details.

Enjoy,

The Voice of North Atlanta Real Estate

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459 Cooper Woods Court, Smyrna, GA 30082

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Great location, excellent floor plan, affordable price!  This is a gorgeous 3 sided brick, craftsman-stlye home built in 2006 with 5 bedrooms and 3 full bathrooms.  Located in Smyrna, Cooper Lake Woods is a small enclave of 14 custom homes on wooded lots. Built by O'Dwyer Homes in 2006, these homes are located at the end of North Cooper Lake Road and are adjacent to the Silver Comet Trail, a walking, biking, and jogging trail extending 61 miles to Georgia/Alabama border.

Overview of the Area:

This home is convenient to the major roadways including South Cobb Drive, Concord Road, the East/West Connector, I-75 and I-285.  It is located just a few miles from the Smyrna Market Village with its pedestrian focused, village like setting that includes retail, living and office space plus seven restaurants.  The schools are King Springs Elementary, Griffin Middle and Campbell High School, all part of the Cobb County School District.

The Avenues of West Cobb shopping center, Marietta Square, and Kennesaw Mountain Battlefield National Park are all within 25 minutes.

Click here for a map of this home's location.

Overview of Exterior:

Featuring 3 sides of brick, this home has classic look with rocking chair front porch.  The backyard is level and completely fenced and can accommodate a pool, if desired.  In addition, there is a deck off the kitchen and a screened in porch off the master bedroom.

Overview of Main Floor:

As you enter the home, you'll notice a large bedroom that can also be used as an office.  Continuing into the home, you see the spacious and bright, dining room as well as the full bathroom.  The main floor offers  hardwood floors throughout.

Moving through the entry, you enter the family room with a large wall of windows looking out to the backyard and a coffered ceiling.  The family room also has a two sided fireplace that opens into the keeping room off the kitchen.

The keeping room is open to the second floor of the house creating an open and inviting space.  The kitchen is located directly off the keeping room and has gorgeous cherry cabinets, granite countertops a large island and stainless steel appliances including double ovens, built-in microwave, and a gas cooktop.  The kitchen is a chef's dream!!Located off the kitchen is the deck and backyard.

Overview of Upper Floor:

After ascending the stairs to the upper level, you will see 4 oversized bedrooms.  The large master bedroom has a vaulted ceiling, fireplace and access to a private, screened deck.  The master bathroom is large and features granite countertops, separate vanities and a large walk in closet.  There is also a jacuzzi tub and separate glass enclosed shower.

The laundry room is also located upstairs.

Overview of Terrace Level:

This home offers a complete unfinished, daylight basement with level walk out access to the backyard.  The basement is ready to be finished.

Price:

This home is currently being offer at $475,000.  This price reflects a true buying opportunity.  Other similar homes in the area are priced well into the $500,000 range.

Enjoy,

The Voice of North Atlanta Real Estate

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Given the current market, I get a lot of calls asking about foreclosures.  If you listen to the news, you’d think that every other house on the market is in foreclosure or close to it.  In fact, according to the Mortgage Banker’s Association, at the end of last year, just over 9 percent of all home loans in the United States were in arrears or already in foreclosure.  That means that more than 9 out of 10 homes are NOT in foreclosure.  However, if the current trends continue, the percentage of homes in foreclosure could rise to 16 percent by 2012 according to a report by Credit Suisse.  Regardless of what the future holds, there are several key differences between a foreclosure sale and a market sale.  They are:

1. Homes that have been foreclosed on are now in the hands of the bank that made the primary loan.  The owner is out of the picture (and hopefully out of the house).
2. There may be an asset management company that is now managing the property and sales process.  This adds additional layers of bureaucracy and communication to the process.
3. The home is most likely listed with an REO or foreclosure broker.  This adds another layer to the process but can a good REO broker will help the buyer and their agent make a good offer.
4. There are typically no disclosures  and the home is sold “as-is” with no repairs.
5. The bank will often collect offers or bids and hold them until a time at which they want to respond.  It is not uncommon to wait weeks before hearing of your offer is accepted, only to find out it wasn’t but someone else’s was.
6. Most banks will choose the “best offer” as they see it and may or may not even give the buyer a chance to revise their offer.  The “best” offer can be one with a quick close or less contingencies or stipulations.  Of course, the higher the price offered is always a good way to get considered.
7. Banks usually require several addenda be signed by the buyer and that the buyer closes at an attorney of the bank’s choosing.  The addenda may not be available to review until after your offer is accepted.  While there’s usually a period to review these documents before a “formal” acceptance is made, these documents can be lengthy and include key information that may change the affect the buyer.  An experienced agent will know what information is critical and relevant to the buyer.
8. Foreclosure is an expensive process and banks want to re-coup as much as they can.  They are not in a rush to sell and will often refuse to negotiate in the beginning.  These are not fire-sales.

So what does all of this mean?  It means that when making an offer on a foreclosure, you are not dealing with a motivated owner who is looking to retire or downsize.  You are dealing with a bank - a business entity - who is going to scrutinize every aspect of the transaction.  If they have gone through the process of foreclosing, you can bet that they are going to want every last dime they can get.

Many buyers mistake a foreclosure as a sign of desperation.  It’s not.   A seller in pre-foreclosure may be desperate.  A foreclosed on home is now an asset and not a home.  It’s on the bank’s books.  They probably have priced it below the market price of a typical home already but usually at or near the amount they are owed.  Buyers often think they can get a foreclosure for 50%-60% of the list price.  It’s not gonna happen, at least not usually.

Here are my tips for making a strong offer and increasing your chance to have your offer accepted.

1. Be fully pre-approved by a lender and have a letter from them with your offer.
2. Review the comps for houses that have sold and compare the subject to these adjusting for condition.  Base your offer price on these factors, not what “you” think it is worth.
3. Get a quote on all work that needs to be done on the house before you make the offer or be comfortable with the possible work to be done.
4. Follow the submission guidelines carefully.  Many offers are rejected due to incomplete paperwork or missing signatures.
5. Be prepared to compete with other offers.  Banks like to collect multiple offers and then have the buyers outbid each other.
6. Understand that the bank doesn’t care why you want the house.  They are looking at it from a financial perspective.
7. CASH offers are usually more attractive.  Most foreclosure deals fall apart because the buyer can’t get financing - even if they are fully approved before hand!
8. Use a professional and experienced Realtor.  All homes listed in the FMLS will include a commission to your agent.  They’re paying for you to be represented - be represented!
9. Make sure you want the house. Otherwise, this is a lot of effort for nothing.
10. Don’t be afraid to make another offer if the house comes back on the market.  It’s not personal.  Just because they didn’t select your offer before doesn’t mean they won’t this time.

I have successfully closed several foreclosure deals.  I worked on many more.  Typically, if the buyer is realistic and follows these tips, there is a very good chance in getting the offer accepted.  If they decide to “throw an offer out” and see what happens, it usually results in a rejection and a lot of wasted effort.

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Forbes.com recently ran an article on line listing the Top 10 places in the US to sell a home. Usually these lists rank where people should be buying. However, I suppose if it's a good place to sell, it must be a good place for someone to buy.

Kennesaw is located in the northern part of Cobb County and is considered part of the northwest suburbs of Atlanta. The city is located approximately 25 miles north of center Atlanta but really only 15 miles north of the Buckhead business district.

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The Strand Theater, a noted landmark on the historic Marietta Square in Cobb County, opened as a motion picture house in 1935 until its closing in 1976. The premier movie was Top Hat starring Fred Astaire and Ginger Rogers. In 2004, a capital campaign was launched to raise $5,000,000 for the restoration and endowment of the theater. As of November 2008, $3,200,000 has been pledged.

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Sorry if I rant for a minute but I was just reamed by a client.  It seems that the last few agents that have called to see his house have no-showed (you know, blown them off).  Now, I understand that schedules can change, traffic jams can alter your plans but could you at least call the client and let them know you're running late or not coming at all?

Some agents forget that not all clients are out of their house all day.  Some have young children or infants that they need to wake up, wrap up and get out of the house.  Others are retired or have medical issues that make leaving home not their first choice.  Now, I believe that if you're going to put your house on the market, you need to be prepared to deal with everything that goes with it.

My client summed it: You work with a great group of professionals (heavy sarcasm)!!!  So, not only does forgetting COURTESY make that agent look bad, it makes us all look bad.  You wouldn't no-show on your boss, or a friend or your mother.  Let's try to all get along and put some courtesy back into our business.

What do you think?