Douglasville Dealings | Douglasville Real Estate Blog
The Most Visited Douglasville Real Estate Website
Less than six months after our official launch, maryannmc.com has already become the most visited website for Douglasville Real Estate according to leading web information authority Alexa. Today's online real estate market is highly competitive so I have to admit that even I am somewhat surprised at the rate in which the site has grown in popularity. With well over 80% of homebuyers turning to the internet first, I am honored that people searching for Douglasville real estate information find my site helpful and apparently the most useful:
I can't thank my wonderful webmaster enough for his dedication which has helped to make our site Douglasville's most popular and he has done so without the need for outdated print ads to drive traffic to the site. He never rests and is currently going through the entire site making the changes I need to keep information timely. He is also busy designing a new neighborhood page featuring Douglasville's only true Luxury Homes, I'll be sure to announce it's release here at Douglasville Dealings first.
Douglasville Dealings is starting to get some traffic as well and the webmaster has promised to bring me even more traffic to the blog this year as one of his projects. I would just love for any of you visitors passing by to leave a comment or question here, I will be posting frequently about a wide range of topics which I am interested in hearing your opinion about. Douglasville is not really that big in the blogosphere yet so let's get the ball rolling people!
Chapel Hill to be Featured in Lifestyles Magazine
Lifestyles Magazine recently contacted me to assist with an article they will be publishing soon featuring Douglasville's Chapel Hill Golf & Country Club. I was honored to be able to contribute and they were just wonderful to work with. Featuring photos from maryannmc.com, the article will also discuss current local market conditions. I am not sure of the size of the article and that there will be room to publish our entire interview so I would also like to share an excerpt for locals who might miss the upcoming issue, read below to get a sneak peek:Lifestyles: Although there is a nationwide slow-down in real estate, is the Southern Arc feeling this, or is it still growing rapidly?
MaryAnn: Our area definitely experienced a decrease in sales in 2007, even though real estate markets are local in nature the nationwide media focus on problem areas and the lender difficulties have created problems for everyone. Our market was not really overpriced to begin with but many buyers seem to be waiting for the bottom. The good news is that our prices have remained fairly stable in comparison to many markets.
Lifestyles: What is the greatest trend in new homes you have seen in this area (perhaps the live/work/play concept or more "green" building and neighborhoods)?
MaryAnn: Buyers have proven that they love swim/tennis communities, these homes continue to outpace the rest of the market in the Douglasville area. Nestled up to Chapel Hills Golf and Country Club, Brookmont was one of the best selling communities in Georgia last year.
I was also able to share my thoughts on the local market's outlook, be sure to pick up a copy here to read more. I am very grateful to Lifestyles for giving me the opportunity to help showcase Chapel Hill and share my thoughts on the Douglasville market, I look forward to our future collaborations.
New Brookmont Douglasville Listing
Looking for a great Douglasville Swim/Tennis home? Be sure to check out this less than 1 year old 'Chatsworth' Plan by Ryland Homes. Features all the upgrades, granite countertops and hard surfaces.
View the Brookmont Douglasville Listing or check out the Brookmont Dream Home Virtual Tour for more information. The first resale in the development, this one won't last long!
View the Brookmont Douglasville Listing or check out the Brookmont Dream Home Virtual Tour for more information. The first resale in the development, this one won't last long!
Fed Rate Cut Tempts Fencesitters
The Fed acted quickly yesterday with an emergency rate cut of 3/4 of a point, averting a near-crisis in the market led by previous foreign market losses. Wall Street is still showing volatility and investors are understandably skittish. The Fed should be commended, their quick actions will create some liquidity and could have a very positive effect on the housing market and in turn the entire economy.
Many buyers have simply been waiting on the sidelines, told not to involve themselves in the real estate market until the bottom is reached. Many of these potential homeowners have put their lives on hold due to the market situation, waiting for the right moment. Shelter is still one of the basic necessities of life and I believe that some of these potential homebuyers can only hold out for so long. I have noted a major increase in buyer activity to my website since Jan 1. and I have heard the same from other agents. Buyers are becoming curious again and beginning to search for information. If we can avoid a recession the housing market may be poised for a turnaround, beginning with lesser-affected areas such as Douglasville.
Homebuyers are in a great position right now, home inventories are at their highest ever, sellers are frustrated and ready to deal, and the 30-year fixed rate is hovering around 5.5% right now, one of the lowest rates in history. Consumers tend to follow the trends so let's hope someone starts a truly smart one, recapturing the American Dream. Call me today if you are ready to get off the fence and find a great Douglasville home for sale.
Don't Flop With a Flip
A would-be investor recently asked me if this was a good time to 'flip' properties. Georgia agents are not allowed to use this term as it has taken on a negative connotation but I offered my advice on investment properties to this person: Even a seasoned pro would have a very hard time renovating properties for resale right now. The recent slowdown and wide media coverage on declining prices have many people considering first-time real estate investment but the truth is usually much different than the popular 'house flip' shows portray.Many would-be investors who think they want to learn how to 'flip' a house in fact don't even own the home that they live in! I admire these people's ambition but usually offer the following advice which is geared more towards long-term investment and can work well in today's market:
- Buy a reasonably priced home to live in as owner-occupant(in the Douglasville area this is typically the $100K range)
- Reasonably renovate the home, leaning towards low maintenance solutions such as linoleum and hardwood floors, not carpet which is easily ruined
- Locate another home like the first for sale
- Find a tenant for the first home
- Purchase the second home as an owner-occupied home
- Move into the second home, lease out the first, repeat the cycle
Always check with your lenders prior to executing this straegy as you want to make sure you meet their restrictions which are typically few after the first year or two. This strategy works well as you build 'sweat equity' renovating the homes and since you are purchasing each house as owner-occupancy you don't have to worry about the larger 15%-20% down payments usually required for investment purchases. This strategy can even be used with no-money down purchases to get started. You won't get rich and typically are lucky to break even but it is an excellent tax shelter and long-term investment which is realized when the mortgages are paid off and you realize that your tenants bought all these homes for you.
The Atlanta Real Estate guru John Adams has a similar program called the 7 Year Itch which calls for investors to purchase two homes a year and 7 years later begin to pull equity out of them to the tune of $75-$100K a year. It's definitely worth looking into if you are a serious investor.
Douglasville Foreclosure Scams on the Rise
The Atlanta metro area's foreclosure rate has skyrocketed and continues to worsen, expected to peak in 2008. The record number of foreclosures also brings vultures looking to make a profit from distressed homeowner's misery. Commonly calling themselves 'rescuers', these companies or individuals frequently promise homeowners that they can help, only to leave them foreclosed upon with even more loss. Typical scenarios include the use of those acting as 'middlemen', negotiating terms with the lenders for a fee or in the worse cases those who suggest signing the title over to third-party investors with the promise of getting it back only to then cheat the homeowners out of their home and even more money.The reason many homeowners fall for these scams is because they are so concerned with losing their homes that they will do anything to save them. Utility poles are plastered throughout Atlanta with these rescue companies and a new one pops up every day, only to soon disappear, stealing homeowner's dreams. If you are facing foreclosure please don't fall victim to these sickening scammers, contact a professional REALTOR®, lender, or agency such as the CCCS for some advice during this difficult time.
Searching Made Easier
I was very excited to launch the Google mapping tools here at maryannmc.com and they are definitely a useful tool to see the actual location of listed homes right down to the satellite view which really gives you a true birds-eye view of the neighborhoods. These powerful tools are a must-have MLS search feature in my opinion. User feedback provided by my clients has indicated that they prefer to begin their home search on the ADVANCED search tab instead of the PROPERTY SEARCH tab. This gives them the option of selecting the area by city, zip, neighborhood, and more. Some just weren't sure how to get started with the map.
In response to this feedback I have instructed my webmaster change the main search link on the homepage to direct users to the ADVANCED search feature tab. Users who prefer to conduct a map-based search can still begin on the map by selecting the PROPERTY SEARCH tab at the top of the search box. You will find that a new CITY/ZIP field has been added at the top of the map to make getting started easier. Map-based searches can also still be conducted by holding the CTRL key and drawing a box around the area you wish to search within, fill out the bed/bath and price info at the top and you're on your way. This powerful display will show you where mulitple listings can be found on the map in relationship to one another.
Happy Searching and be sure to give me a call when you find just the right one!
Happy Searching and be sure to give me a call when you find just the right one!
Homes Priced Under 100K Still Available in Douglasville
I have a client that has been looking in the under-100K price range in the Alexander School district of Douglasville. The new Down Payment Assistance Rule that came down from HUD today will help her be able to buy a HUD home without a substantial down payment. FHA announced today that Nehemiah was granted relief until April 2008 and AmeriDream until February 29,2008. This has opened up several more options for her, we saw four homes today and two had a lot of potential. Face it, any single family home you buy is typically going to need some sweat equity and these were no exceptions. A single mother of four, this determined woman is not afraid to get her hands dirty and is ready to make a real home for her family and quit paying rent. She has the ability to pay steady rent but not enough savings for a traditional 3-5% down payment.The types of homes that she is looking at are also perfect homes for Douglasville area real estate investors. Keeping monthly rent amounts reasonable is one key to keeping them rented, so these sub-100K fixer-uppers are perfect for those long term investors ready to make some sweat equity and enjoy long term investment security.
Credit Crunch Symptoms in Douglasville
Speaking with a few agents today, I noticed that many are complaining that many of the contacts that they make are with potential clients who are looking for lease purchase deals. Obviously this is usually due to slow or bad credit on the buyers part and are people who think that this is a better option than renting. Many are unaware that a lease purchase usually involves a fairly subsantial amount of money to be placed down that is typically only recovered if the actual purchase part of the contract goes through. I say IF because these deals rarely are seen all the way through and generally result in the loss of the buyer's down payment.
Consumers are usually better served if they save their money for a more conventional mortgage and home purchase while they work to get their credit repaired. A good mortgage lender will usually give homebuyers some great free advice to get credit back on track and then help them get approved once they are able. I give this advice to anyone that asks me about a lease purchase opportunity or where to find one. Many Douglasville real estate agents would rather not involve themselves in these lease purchase deals and some simply refuse. Their time is valuable and these types of deals generally never pay since they are not seen to fruition. I advise potential clients of the pitfalls of these deals but as a full service agent will find one for a client if they have their heart set on it. I have yet to see one go through.
Florida Has The Bigger Sharks
I have been so busy with buyers lately that I have decided to make a conscious effort to increase my listings. Buyers have been good to me lately so honestly I have shied away from the darker side of the market right now, with too many homes on the market, prices down slightly, and the media blitz about California or some other fiasco far away it is just not worth the trouble sometimes. Still, you can't ignore half of your market and the listings that I do take are prepared, staged, and marketed aggressively so I enjoy helping frustrated sellers when I can. The problem with most homes today in the Douglasville area is that they are simply overpriced. I thought I would just jump right back in with both feet and call on a few expired listings to see if any were interviewing agents.Calling expireds is always exciting, kind of like reaching in a big bag of mixed candy, you never know what you are going to get. You may find a new friend and chat for an hour or more often than not just someone who is tired of hearing from real estate agents. Par for the course, I spoke today with several sellers who are frustrated with the current market, some downright angry about it. One lady tells me that she has used four agents who were unable to sell her home, she was not looking for another today. The price on this home had been decreased 10K from the original listing price last year and was still overpriced, these agents weren't miracle workers apparently, I see a common denominator in the equation there.
One lady was standing by her niece who had listed the home and hadn't sold it yet, many people stick to friends and family to represent them instead of making a business decision based on facts and I have to admire their loyalty. Another listing was going to take their home off the market until it 'picks back up again'. One gentleman was so fed up with agents that he decided not to sell his home at all and stay here in Georgia. He was instead going to sell his property in Florida, he did brighten my day a bit when he mentioned that he thought the Florida agents were bigger sharks than us Georgia agents.
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Equal Housing Opportunity.
Equal Housing Opportunity.