We love helping all our clients make their real estate dreams come true! Wishing everyone a wonderful holiday season with family and friends.
For so many reasons, more buyers are moving to Atlanta! And our lack of inventory is making it more and more competitive. Buyers and sellers need professional help!
Either way, Email Cathi or call our office at 770-993-9572.
Source: Metro Atlanta Market Trends June 2017, Berkshire Hathaway HomeServices
The Fulton County Property Tax Assessments are out! Your tax bill is based on your home’s value as of January 1 of this year.
If you feel sure that the “fair market value” assigned to your home is too high, you have 45 days to appeal. Right on your assessment notice, you will see the last date you can file.
What you need to provide is evidence that supports a lower value as of January 1, 2017. What do you think your house is worth?
It might be helpful if you can see what data the assessor’s office used. If you make the request, they will send you their sales comps. The telephone # is 404-612-6440.
Then, if you contact me, I can send you a list of 2016 comparable sales from your subdivision. You will want to choose at least 3 properties similar to yours that sold for less than the value assigned to your home.
Calculate a spreadsheet or a table with the # of bedrooms, # of baths, age, and a dollars per square foot calculation for each.
You can also get information from the Fulton County Board of Assessors site. Search for and pull up your own address. At the top left-hand corner of the page, you can click on “Recent Sales in Neighborhood.” (These are not necessarily in your subdivision but are nearby.) If you like, you can even go down to the bottom of this “neighborhood page” and pull up the results in excel. At this site, you can find all the other properties’ 2017 assessments.
Now you’re ready to file your appeal. At the Fulton County site are detailed instructions and options. Appealing your Property Value
If you file your appeal online, you can follow its progress all the way through the Appeal Resolution Center.
Good luck! And be sure to email me if you want comps …
Facts & Trends by Trendgraphix is an online market reporting system for professional real estate agents and brokers. Their guidelines suggest that a Buyer’s Market exists when there is more than 6 months of inventory based on closed sales. A Seller’s Market: less than 3 months of inventory, and a Neutral Market: 3 – 6 months.
The inventory level of homes for sale in the Atlanta area has been dropping steadily. In Roswell’s zip code 30075, where we do a lot of business, as of mid-April, overall there was an inventory level of 3.1 months.
Compare this to January of 2011, when there was a 15.4 month supply and in January of 2012 when the number was 9.2!
However, in the price range up to $399,999 that figure is only 1.2 months of inventory, driving multiple offers and very quick sales in select areas!
For 30075 properties priced $750,000 and above, the inventory statistics vary wildly from month to month. In the last quarter, this figure was 17.8 months.
No matter what the price range, homes should be pristine and properly priced. In some price ranges, we are generating competing offers! There seems to be a lot of urgency on the part of the buyers, with “fear of loss” working as a strong factor.
The bottom line is … you need a professional with a data-driven approach and all the necessary tools to get the job done. Take a look at our numbers, and give Cathi a call at 770-993-9572.
A home is one of the most important assets that most people will ever buy. You want to work with someone you can trust.
–Warren Buffett, Chairman and CEO, Berkshire Hathaway, Inc.
For your luxury home to provide you with the largest return on your investment, it must be exposed to the greatest number of prospective buyers.
There are a number of reasons why the ultimate buyer of your luxury home may emerge from outside your local market, even from outside the United States. This is due as much to demographics and technology as it is to the discretionary nature of luxury home acquisition.
Affluent consumers are generally more mobile and more likely to be frequent flyers with more discretionary income available for travel. They frequently travel for business and are more predisposed for foreign travel.
This is why it’s critical for Berkshire Hathaway HomeServices to broadcast your property to more than 70 websites worldwide viewed by potential buyers in 37 countries across five continents!
Let’s talk! The Lund Group is a leading Realtor in the sale of Atlanta luxury properties. Email Cathi or call our office at 770-993-9572.
2016 will soon be finished! With interest rates hanging below 4% and consumer confidence up, buyers were finally making a move! Summer was the most active time of the year in North Fulton as well as in other areas since, historically due to school schedules, many families move at that time.
Call us for the specific statistics on your neighborhood.
The renovated homes are selling for top dollar. What we are finding lately is that styles have changed in the past 10 years. Buyers are looking for all the updates that they see in new homes, even those offered at lower price points. There is a demand for the lighter granites or quartz countertops. Soaking tubs are more prevalent than the Jacuzzi tubs that were so desirable 10 years ago.
White cabinets are back “in”. The dark hardwood flooring is in vogue, and the lighter oak stains are no longer as popular. Buyers seem to prefer the dark walnut for flooring–or even grays. In fact, gray color schemes are the latest, with subway tile backsplashes. Even the light fixtures of 10 years ago often appear “dated” to today’s buyer.
Buyers are no longer “wowed” by theater rooms and fancy entertaining bars. They prefer functional, updated terrace levels, and home gyms are more popular than ever. And pools, or lots that can accommodate a pool. Outdoor entertaining areas are also very desirable.
If you are considering any updates, we can give you advice on how to get the most “bang for your buck,” in other words, the best return on your investment. Just call or Email Cathi at The Lund Group …
We hope that you have had a wonderful holiday season and that 2017 will bring joy and good health to you and to your families.
With the rush of the holidays fast approaching, it may seem like now is not the best time to purchase a home. But that’s what makes it the ideal time to buy. While other buyers temporarily drop out of the market, sellers still have to sell their homes, which puts you in an advantageous position to negotiate.
If you’re willing to use the time that others are spending decorating, baking and entertaining, you’ll have plenty of room in your schedule to look for and compare homes on the market.
You may find that homes for sale are slightly lower in price than they were in the summer at the height of the buying season. It may already be cooler weather where you live, making it harder for sellers to keep their homes and lawns pristine. Again, you’re in a better position to negotiate.
For new homes that come on the market, you’ll be first in line to see them without having to compete with many other buyers. These sellers are motivated, perhaps due to being transferred, or some other urgent reason.
Mortgage interest rates are near all-time lows. As the National Association of REALTORS® points out, mortgages 35 years ago were four times as expensive as they are now, and mortgage money is the cheapest money you’ll ever borrow. With fewer homes to close, your lender should be able to expedite your loan so you can move in quickly.
Tell your friends and family what you’re planning … next year, you can have everyone at your home for the holidays.
Let’s have a conversation. My 30 years plus of experience will help you make the best business decision. Call or Email Cathi at The Lund Group …
One question that I get frequently is this: should we add-on to our home or should we sell it and buy a larger one?
My answer is … it depends! It will certainly depend on both your personal and your financial goals. What do you want to achieve with the renovation or with the move?
There are important tax implications to your decision. Read more at the end of this article.
Houses are usually designed to be the size they were originally built. When you add additional rooms your traffic flow might become awkward and your home could decrease in value. On the other hand, an addition could open up a closed floor plan and make it more functional and highly desirable in the eyes of a buyer. That, in turn, would increase your home’s value. I am happy to come by at any time to make recommendations on where you will get the most “bang” for your buck. We know what makes a difference in today’s market. We can advise you where to spend your time and your dollars on improvements and help you make the right decisions.
Another issue that might come up is whether or not you are overbuilding for the anticipated values in your neighborhood. You need professional guidance to make that determination … don’t rely on what you find in the well-advertised real estate value websites. Most often, those sites are looking at the broad picture only. I can fine tune that picture and focus on your immediate neighborhood. We are immersed in the real estate world on a day to day basis, and we have the pulse of the marketplace! When I meet with you, I can familiarize you with comparable competing homes and with sales in your immediate price point and area. I can tell you whether or not you will be over-improving for the neighborhood.
Every situation is different. If your lot is exceptional because of its location that could be a huge factor. If it’s on the water or on a golf course, it will have a lot of desirability. Supply and demand will dictate what makes sense and what does not.
Not sure which way to go? Let us help. We have a list of contractors who have done work for many of our clients and have received rave reviews.
Let’s have a conversation. My 30 years plus of experience will help you make the best business decision. Call or Email Cathi at The Lund Group …
The following paragraphs were written by my personal tax consultant, Earl W. Morrow, CPA, PC. We firmly believe in using the best professionals when it comes to our business! You can reach Earl at his office, 770-642-9855.
If you decide to undertake the renovation or addition, be careful to carefully document your basis in what was spent for the improvement. You will need that information eventually when you sell that home for this reason: since 1997 homeowners who sell a principal residence that they have occupied as their principal residence for 24 of the 60 months preceding the sale can exclude up to $250,000 of the gain on the sale of that home ($500,000 on a married filing joint return) from taxable income!
You cannot declare this type of exclusion from income any more often than every two years.
To determine what your gain in the home you sold actually was you must document purchase price, cost of all capital improvements and costs to sell your home. If you have more gain than the $250,000 ($500,000 married filing joint) your ability to document your basis becomes tax dollars saved!
Adequate documentation consists of Invoices for materials and labor from contractors and vendors and canceled checks, charges to credit cards or other proof of the payment of the invoice.
Borrowing the funds to finance the improvement or renovation can and usually is from HELOC or equity line loans secured by the residence. If not secured by the residence, the interest paid is not deductible. The interest on HELOC debt in excess of $100,000 or first mortgage debt in excess of $1,000,000 is not deductible. If borrowed to renovate or improve your principal residence, that debt is considered acquisition debt and may be deducted from regular taxable income and from Alternative Minimum Taxable Income.
According to a recent report by the National Association of Realtors® (NAR), of the top 10 metro areas with the highest share of renters who earn enough to buy, the Atlanta market was #7.
Atlanta was the largest city of those named with slightly higher percentages.
The two factors named are housing affordability and local job market strength.
With mortgage rates now at their all time low, it really is, in the Atlanta area, the best time to purchase a home!
If you are a renter, and you want an experienced Realtor® to guide you through the process, Email Cathi at The Lund Group to set up a convenient time for a confidential interview!
The last quarter is finished…the holiday season has ended, and we are into the beginning of a brand New Year!
As of the writing of my letter, there are 11 homes listed currently in Brookfield, ranging from a low of $395,000 to a high of $1,375,000. With a total of 39 homes sold in 2015, there has been great activity this year.
Brookfield Country Club has been one of the most sought after communities in North Fulton, especially, in recent years. We can attribute it to the value of the homes, the neighborhood’s great location, the convenience to Historic Roswell, the award-winning parks that Roswell has to offer, along with the outstanding Parks and Recreation programs, and the top rated schools! In addition, the lush landscaping is absolutely gorgeous, particularly in the springtime and in the fall.The club is a huge draw, as well as all the neighborhood activities. No wonder there are homeowners in Brookfield who move from one house to another within the neighborhood. We have done so ourselves!
We are seeing a turnover in the neighborhood as many long-time residents are opting to downsize. At the same time, others are moving into Brookfield to be close to the schools for academics and sports as well as for the unique charm of Roswell. Many relocation buyers are also drawn to our area for these same reasons.
During 2015, we saw many homes sell very quickly. In fact, two dozen sold within the first two weeks, often with competitive bids. These were typically homes which had been renovated or were priced lower than market value. And still, some homes, not priced properly in the beginning, have remained on the market for a long time. Price still drives the market, even when the supply is low and the demand is high. With the resources available today, buyers are making well-informed decisions, and they are choosing Brookfield!
In 2013, the average sales price in Brookfield was $419,307 and homes were selling at 93.42% of the list price. In 2014, the average sales price was $421,720 and homes were selling on average at 94.35% of the list price. And in 2015, the average sales price was $468,323 with homes selling on average at 95.22% of the list price! So, prices are going up and Brookfield sellers are getting more for their homes.
If you plan to sell in 2016, it is a good idea to get ahead of the spring market’s typical increase in inventory. Since pricing is a factor of supply and demand, the earlier in the year a home is on the market, the quicker it will sell, and often for a higher price since there is less competition.
Right now, inventory remains extremely low, and interest rates are beginning to climb. If you are thinking of selling your home, you will have the best chance to get the highest price right now.
The homes which sell for top dollar are those with recent renovations and lots of “bells and whistles.” So, if you are considering home improvements…updating with the newer granites, darkening the hardwood floors, lightening the cabinets, and updating to granite in secondary baths, it will be money well spent!
We have sold more than 100 homes in Brookfield with eight sales in 2015, and we pride ourselves in staying abreast of market trends and values.
If you are considering a move, give us a call. We’d love to work with you!
Cathi Lund, Berkshire Hathaway HomeServices