The Success of Real Estate Atlanta Blog

As a proud Resident of Home park I understand the value of our neighborhood and that RENTING, SELLING & BUYING in this area is a huge decision in this real estate market.
Home Park is a neighborhood that is located between Georgia Tech (Georgia Institute of Technology) and Atlantic Station, just north of Downtown Atlanta and just west of 75/85. For many years it has had apartment houses and rooming houses serving the Georgia Tech students but with all of the investment in Atlantic Station, Home Park is changing fast!There are Single family and Multi Family homes for sale in Home Park. A few apartment buildings have been converted to condos and some new loft style townhomes have been built in Home Park.

Home Park is an Intown Atlanta neighborhood nestled between Georgia Tech and the Atlantic Station development, west of the Downtown Connector. This is an historic neighborhood of homes, mostly of the 1920′s – 1940′s vintage. Shopping, dining and entertainment in Atlantic Station is just a brief walk from Home Park. Because of this attraction, renovated and new-construction homes are becoming more and more common in this established neighborhood. Home Park is north of Georgia Tech, south of Atlantic Station and west of Midtown.

Suddenly out of the blue you have found out that a new position has opened up within your company and they are asking you to relocate your family to the other side of the country.

The job opportunity is too good to pass up so you decide to take the position. You realize with an impending move you are going to need to either sell or rent your home.

Considerations for renting or selling a home

Anyone who is considering selling a home in 2011 and has bought in the last six or seven years faces the real possibility that they will be losing money on the sale. The thought of losing money is never pleasant but unfortunately is part of today’s Real Estate reality. In my experience the immediate thought process of most home owners is to rent the home and not sell for a loss. This is kind of similar to the stock investor who hangs on for dear life with their losing picks but sells their winners instead.

In many cases they will ride the loser for an extended period of time until they realize it will take a very long time for that stock to come back to where it once was when purchased. Anyone who has ever invested in stocks including myself has been guilty of this. It is hard to give up on a loser because there is always the thought that it will come roaring back. So is renting the home really the best move or should you unload this asset that is working against you?

Where is the local Real Estate market headed?

One of the considerations of whether to sell or rent your home is to find out from a local Real Estate expert where they feel market values are headed both in the near term, as well as longer down the road. A knowledgeable Realtor that has been in the business for a while should be able to help you determine the trend of where the market is headed at least in the short term. Crystal balls are a hard thing to come by in Real Estate. Those that are lucky enough to have one are often times millionaires. Unfortunately knowing exactly when the Real Estate market will turn around requires one.

Most economists believe that once Real Estate markets do hit bottom the climb back up will be a slow and steady one. The opinions of most are that yearly appreciation will return to more normal historic levels of 3%-4%. Of course this is an average and states, cities and neighborhoods that are desirable could rise at a slightly higher clip.

As a home owner what you should be trying to figure out is how long will it take you to get back to a break even point or even something you can financially stomach. You should also be asking yourself is the time it takes to get back to break even worth it to you?

For example, lets say you bought your home for $500,000 and it has dropped in value by 25% and is now worth $375,000. Lets further assume that the Real Estate market beats the economists predictions and rises by 5% yearly. Do you realize it would take seven years to get back to break even?

If you have equity in the home you need to figure out if you would be better off taking the loss and putting your equity somewhere that could potentially earn you more money. If you don’t have any equity you would need to figure out if you have the necessary funds to bring to the closing table or would need to explore other alternatives like a short sale.

What is the local home rental market like?

Should I sell or rent my current home

Again you should consult with a local Realtor to determine how well the rental market is performing. Has the rental market done as poorly as the Real Estate market or is there demand for rental housing? Some areas rental markets have done very well.

There is a good possibility there are folks who would like to rent a nice home rather than commit to purchasing if they feel they could be transferred in a short time period or feel market values are still sliding and don’t want the risk.

The rental home becomes an investment property

Relocating home owners need to remember that a rental home becomes an investment property. Owning a home as an investment property has the potential to help or hurt you tax wise. This is definitely something you would want to consult a tax professional for guidance.

Although you will be taking in rent you need to remember that you will still have principal, interest, taxes and insurance to pay. If the property is a condo you would more than likely also be paying the condominium fees as well. As a landlord you will also be required to maintain the property and fix any necessary issues that come up.

Many landlords that have relocated out of state will also consider hiring a property manager. The typical charge for management services runs around 8-12% of the rent. So if you are charging $2000 a month for rent you can expect to pay a manager in the neighborhood of around $200 a month. There are some excellent tax deductions for rental property that could play a factor in your decision making.

Taking on landlord responsibilities

As a landlord one of the 1st steps is going to be choosing the right tenant. Over the years I have seen a few occasions where the renter did not treat the home the same way an owner would. The owner was left with paying to replace carpets and do quite a bit of painting. These kind of costs can add up fast. Picking a responsible tenant becomes critical.

There are also considerations such as handling tenant complaints, maintenance issues or even legal issues such as eviction. In the end there is a lot to think about when deciding whether selling or renting your home makes the best fiscal and practical sense.



_________________________________________________________________


Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

I service the following towns in Metro-Atlanta: Fulton County, Cobb County,Gwinnett County,Paulding County,Douglas County, Dekalb County and Henry County.

You may qualify for up to 30 to 40% of the home purchase price or up to $60,578 as a subsidy. For information on this program contact LaMar Campbell at 770.475.1130 or visit www.thesuccessofrealestate.com. Existing or new construction single-family homes, townhouses, condominiums and manufactured housing along the BeltLine are eligible. Maximum purchase price is $252,890.

Also City of Atlanta Employees can qualify for an additional 10% in Down Payment Assistance! This will only last a limited time only! Contact me for Details!

http://myemail.constantcontact.com/Spring-Into-Home-Ownership-with-LaMar-Campbell.html?soid=1104934958511&aid=VCsJ6G2QBTg

Suddenly out of the blue you have found out that a new position has opened up within your company and they are asking you to relocate your family to the other side of the country.

The job opportunity is too good to pass up so you decide to take the position. You realize with an impending move you are going to need to either sell or rent your home.

Considerations for renting or selling a home

Anyone who is considering selling a home in 2011 and has bought in the last six or seven years faces the real possibility that they will be losing money on the sale. The thought of losing money is never pleasant but unfortunately is part of today’s Real Estate reality. In my experience the immediate thought process of most home owners is to rent the home and not sell for a loss. This is kind of similar to the stock investor who hangs on for dear life with their losing picks but sells their winners instead.

In many cases they will ride the loser for an extended period of time until they realize it will take a very long time for that stock to come back to where it once was when purchased. Anyone who has ever invested in stocks including myself has been guilty of this. It is hard to give up on a loser because there is always the thought that it will come roaring back. So is renting the home really the best move or should you unload this asset that is working against you?

Where is the local Real Estate market headed?

One of the considerations of whether to sell or rent your home is to find out from a local Real Estate expert where they feel market values are headed both in the near term, as well as longer down the road. A knowledgeable Realtor that has been in the business for a while should be able to help you determine the trend of where the market is headed at least in the short term. Crystal balls are a hard thing to come by in Real Estate. Those that are lucky enough to have one are often times millionaires. Unfortunately knowing exactly when the Real Estate market will turn around requires one.

Most economists believe that once Real Estate markets do hit bottom the climb back up will be a slow and steady one. The opinions of most are that yearly appreciation will return to more normal historic levels of 3%-4%. Of course this is an average and states, cities and neighborhoods that are desirable could rise at a slightly higher clip.

As a home owner what you should be trying to figure out is how long will it take you to get back to a break even point or even something you can financially stomach. You should also be asking yourself is the time it takes to get back to break even worth it to you?

For example, lets say you bought your home for $500,000 and it has dropped in value by 25% and is now worth $375,000. Lets further assume that the Real Estate market beats the economists predictions and rises by 5% yearly. Do you realize it would take seven years to get back to break even?

If you have equity in the home you need to figure out if you would be better off taking the loss and putting your equity somewhere that could potentially earn you more money. If you don’t have any equity you would need to figure out if you have the necessary funds to bring to the closing table or would need to explore other alternatives like a short sale.

What is the local home rental market like?

Should I sell or rent my current home

Again you should consult with a local Realtor to determine how well the rental market is performing. Has the rental market done as poorly as the Real Estate market or is there demand for rental housing? Some areas rental markets have done very well.

There is a good possibility there are folks who would like to rent a nice home rather than commit to purchasing if they feel they could be transferred in a short time period or feel market values are still sliding and don’t want the risk.

The rental home becomes an investment property

Relocating home owners need to remember that a rental home becomes an investment property. Owning a home as an investment property has the potential to help or hurt you tax wise. This is definitely something you would want to consult a tax professional for guidance.

Although you will be taking in rent you need to remember that you will still have principal, interest, taxes and insurance to pay. If the property is a condo you would more than likely also be paying the condominium fees as well. As a landlord you will also be required to maintain the property and fix any necessary issues that come up.

Many landlords that have relocated out of state will also consider hiring a property manager. The typical charge for management services runs around 8-12% of the rent. So if you are charging $2000 a month for rent you can expect to pay a manager in the neighborhood of around $200 a month. There are some excellent tax deductions for rental property that could play a factor in your decision making.

Taking on landlord responsibilities

As a landlord one of the 1st steps is going to be choosing the right tenant. Over the years I have seen a few occasions where the renter did not treat the home the same way an owner would. The owner was left with paying to replace carpets and do quite a bit of painting. These kind of costs can add up fast. Picking a responsible tenant becomes critical.

There are also considerations such as handling tenant complaints, maintenance issues or even legal issues such as eviction. In the end there is a lot to think about when deciding whether selling or renting your home makes the best fiscal and practical sense.



_________________________________________________________________


Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

I service the following towns in Metro-Atlanta: Fulton County, Cobb County,Gwinnett County,Paulding County,Douglas County, Dekalb County and Henry County.

Via-Bill Gasset

Hot Of The Press!!!! The Atlanta Development Authority has been awarded an additional $25 Million in Down payment Assistance to help First Time Homebuyer as well as move up buyers to assist them in purchasing a home in the City of Atlanta. Did you know that the law still defines a first-time homebuyer as someone who has not owned a primary residence for three years prior to the date of purchasing their new home. Exisiting New Construction single family homes,townhomes, condominiums, and manufactured housing with a maximum purchase price of $252,890. All Properties must be in the City of Atlanta Email us for additional Information.

Prime Time to Buy
7 Reasons Why Now Is a Great Time to Buy a Home



Recent history has reframed some of what had long been taken for granted about buying a home. Namely, we’ve learned that even though buying a home remains one of the best and safest investments available, a home should not function as an ATM or a short-term speculation strategy. So, where does that leave us? A lot smarter, able to recognize an opportunity when we see one, and aware of the facts that point to now as the prime time to buy a home.

1. Home affordability is at an all-time high. The median mortgage payment on the median-priced home, as a percentage of the median household income, is lower than it’s been in a generation.
2. Mortgage rates are at rock bottom. It’s hard to imagine interest rates going much lower, and when they start to inch back upward, monthly payments and total loan costs will spike upward.
3. Home prices are back on the rise. After declining for 30 months, home prices are trending back upward. The time to get in the market is now.
4. Sellers are motivated. This means that buyers have the upper hand. Sellers are fiercely competing among an excess of housing inventory, which often means buyers have untold choices and negotiating power.
5. Financing is readily available. Banks are back in the game and ready to lend to well-qualified buyers.
6. Owning vs. renting is increasingly favorable. Since 2009, the average principal and interest payment has fallen below the average rental rates, and the gap is now wider than it’s been in the past 22 years.
7. Homeownership is still at the core of the American Dream. Owning a home is critical to financial stability and wealth building. It’s a forced savings account, a place to live, and a fabulous tax deduction.

Program Structure

The Beltline Affordable Housing Trust Fund provides homebuyers with downpayment assistance of up to 20 percent of the sales price at a zero-percent interest rate as a soft second mortgage.

Who Qualifies?

There is no first time homebuyer requirement for borrowers moving into the incorporated city limits of Atlanta but, current residence must be sold prior to closing on the new home.

Qualifying Properties

Sky Lofts -One, two and three bedroom units from $119,000


Triumph Lofts-Lofts located in the Reynoldstown Community from the mid $200,000


Milltown Lofts-One ,two bedroom units from the $170,000's


Glenwood Park- Condominiums in the Glenwood Park Community from $132,500


Grinnell Lofts- Boutique Condominiums in Inman park


White Provision-Condo living in trendy West Midtown from the $220's


870 Inman-Condos in Inman park Village near the BeltLine from $179,000.