You are currently browsing the monthly archive for August, 2007.
Source: Fortune magazine, ranked by 2006 fiscal revenue
AFLAC,* Columbus
Mohawk Industries,* Calhoun
*Fortune 500 companies located outside the Atlanta metro area
Source: KNOWAtlanta Magazine
- Turn off lights, television and all unnecessary electrical appliances when you leave the room.
- Naturally light your rooms by opening the curtains or blinds instead of turning on the lights.
- Don’t leave windows/doors open while the air conditioning is running. It makes the AC have to work harder to cool the house.
- Turn off the dishwasher right before the drying cycle and let the dishes air dry.
- Decide what you want before you open the refrigerator door. Don’t just leave the door open.
- Use heat-generating appliances during cooler nighttime hours.
- Avoid meals that require preheating the oven and microwave as much as possible.
- Use fans whenever possible.
- Check your hot water heater’s temperature by filling a glass of hot water from your sink. The temperature should not exceed 120 degrees.
- Use compact fluorescent light bulbs when possible - they only use one-quarter as much energy as regular light bulbs.
- Change air filters at the beginning of each heating and cooling season.
- Keep your thermostat set at the highest possible comfortable setting. Try for 78 degrees.
- Only cool the room you need; close vents and doors of unused rooms.
- Vacuum the back and bottom of the outside of your refrigerator. Removing clogged dust lets air flow more efficiently.
- Place large pieces of furniture on the outside walls to increase insulation.
- Check your windows and doors for air leaks. Proper insulation can make a huge difference in maintaining a cool house in the summer.
Source: Money Magazine
Population: 11,200
Typical Single-Family Home: $250,000
Estimates Property Taxes: $3,800
Pros: Green space, affordable housing
Cons: Traffic, I-85 interchange
Six years ago the residents of Suwanee voted to more than double their property taxes. The payoff: a boost from 28 acres of green space to more than 270, and a feeling of investment in their hometown. “People here participate in the community in a very thorough way,” says resident Dave Williams, 40, a partner in a marketing company and father of two. “They don’t just live here and work or play somewhere else.”
That’s abundantly clear at the newly developed Town Center. Built on a heavily trafficked downtown corner, it meshes park space, retail and office properties and housing into one multiuse plaza - and residents have embraced it in a big way. On summer afternoons kids of all ages splash in the park’s interactive fountains. On weekends Town Center Park’s outdoor amphitheater holds concerts and other events. Behind the appealing row of restaurants and shops are townhouses and single-family homes. Housing is reasonable - you can get into a nice four-bedroom for $250,000 - and schools are topnotch.
As for jobs, Dish Network and Southeastern Freight are the area’s biggest employers, but Google, Hewlett-Packard and other tech concerns also have offices nearby. Surrounding Gwinnett County and Atlanta (30 miles away) provide even more opportunities. Suwanee offers a tax break to companies that bring in more than 25 high-paying jobs.
Though the town has planned recent development deliberately, the area around Interstate 85, which runs through Suwanee’s southeastern corner, lacks for aesthetics but not for congestion. Still, the rest of the city has a lot to offer.
“We’re blanketed with parks to use,” says Brenda Everson, a mother of three boys. “We’re very nature-y. Instead of going to a movie, we’d rather be out hiking or playing ball. It’s nice to have those options.”
Director of Marketing and Communications
Source: Money Magazine
Do pick skylights that open. They’re better at venting than windows are. Extra cost: $200 each, or $700 for mechanized ones.
Don’t scatter skylights randomly. To prevent leaks, keep them away from where two parts of the roof meet.
Do install big fixed windows on the walls that face your best views.
Don’t neglect to add small windows that open above or below fixed glass.
Do put windows high on the wall for the best venting and light throughout the room.
Don’t forget that trickier installation hikes the cost of putting windows tight to the ceiling (by $400 each).
Do group several windows together; you’ll save on construction costs and have a less obstructed view.
Don’t separate windows with fat supports that ruin your view and run you another $200 per opening.
Do keep interior fabrics from fading by installing shades in windows facing east, west or south; built-ins are $100 and up.
Don’t use UV-inhibiting coating, especially near non-coated windows; it gives your glass a tinted or reflective look.
Why does one house sell within days and another languish on the market for months?
In today’s real estate market, far too many sellers watch prospective buyers make a low offer. To avoid this kind of frustration, you may want to learn the secrets of making your house more desirable. More importantly, the longer a house in on the market, the more likely the buyer will suspect the quality of the merchandise that has been “on the shelf” for a long time is somehow not up to par.
The Basics
Put yourself in the buyer’s shoes! Remember that they arrive at your front door and expect that you have done your homework and set the stage, so every room shows at its best. What makes your home special? Begin listing your home’s most positive features. Ask your spouse and your children to add their own special positive reactions. Tour every room, basement, the garage and the landscaping. Make sure that every area is showcased at its best.
Do the pre-sale staging and more for a quick sale.
Call a Jenny Pruitt & Associates’ Realtor to assist you in making your house ready for the marketplace.
Senior Vice President, Managing Broker
Sandy Springs office
Source: KNOWAtlanta
The 10-county Atlanta region’s population has surpassed the four million mark after posting a 104,000 person increase between April 1, 2006 and April 1, 2007, according to the latest estimates from the Atlanta Regional Commission (ARC). The region is now home to 4,029,400 people, a population larger than that of 24 states.
“The Atlanta region continues its robust growth, reaching a new milestone with more than four million residents in the ten core counties,” said Mike Alexander, Chief of ARC’s Research Division. “Not only has our regional growth eclipsed a 100,000 population gain again for the second year in a row, but the City of Atlanta gained more population in the last year than it has any year in the last three decades.”
During the last three years, the region has added almost 315,000 new residents, a full recovery from the slow-down caused by the national recession earlier this decade. Since 2000, the 10-county Atlanta region has added, on average, almost 86,000 new residents each year. To put into further perspective this average increase since 2000 is greater than the average annual increase for 44 states.
The region’s average increase of 86,000 persons per year since 2000 has almost reached the 87,000 person-per-year pace set during the 1990’s, a period of unprecedented growth.
Many Realtors will admit that too often the ten year old refrigerator in the basement can become the deal breaker for what should be an easy contract process. Many customers seem confused on exactly what is “personal property” and what is a “fixture.” Most Realtors agree that a fixture is anything that is permanently attached to the property. But is a light fixture, such as a chandelier, personal or a fixture? The answer to this question, simply depends on what the intent of the parties is. The best way to decide what the intent it, is to look at what has been agreed to in the contract. But too often, the contract may not be specific enough or there is a verbal agreement that is often misinterpreted.
How can the parties be more clear so there are no misunderstandings? When listing a property for sale, make sure the seller is clear on what is staying with the property. The Real Estate sales associate should provide the seller with a seller’s disclosure that is specific on what is being conveyed with the property and what is not.
Examples of fixtures that are typically included with the sale of a home are window blinds, shades and drapery hardware, built-in or attached shelving, ceiling fans, light fixtures, tacked down carpeting, planted vegetation, automatic garage door openers, central vacuum security and invisible fence systems, well and septic pumps, water softeners, intercom systems, outdoor sheds, built-in gas grills, fireplace screens, gas logs and starters.
Any items that the owner wants to take with them when they sell, ideally should be removed from the property before the home is shown to perspective customers. Potential homebuyers will want to see everything that is being conveyed with the property during the initial viewing of the home. You may think the home shows better with grandma’s antique chandelier, but that can sometimes be a deal-breaker if you are not willing to part with the item.
It is essential to consult with your Jenny Pruitt & Assocaties professional for their advice on how to avoid issues of what goes and what stays!
Senior Vice President, Managing Broker
Sandy Springs office
Source: The Atlanta Journal Constitution
Born in Seoul, South Korea, and schooled in Switzerland, Jin Kim, an MBA from Emory University, could have chosen any city in the world to settle and raise his family. And, like a growing number of Asian-Americans and Asians from outside the United States, he chose Atlanta.
“I think Atlanta is a great place to raise a family,” Kim said. “It has a suburban touch to it, but your children can get a good education.”
The attraction of Atlanta for a growing Asian population is one of the reasons why Atlanta’s housing market has escaped the worst ravages of a national slump in housing sales. Lured by affordable home prices, a sunny climate, relaxed investment rules and expanding international air routes, new Asian residents are swelling metro Atlanta’s diverse ethnic ranks and fulfilling its aspiration to become an international city.
Young, Asian-American professionals are driving sales of sleek new Midtown condos. Asian-American families are settling in Gwinnett County subdivisions. And Asian empty-nesters are enjoying fairway views at north metro Atlanta’s country club communities.
Metro Atlanta’s Asian population increased 51 percent from 2000 to 2007, according to Aletta Bernard, director of market insight for The Marketing Directors, a Ryness Company, a condo marketing firm. Bernard said current projections call for metro Atlanta’s Asian population to grow another 36 percent over the next five years.
In Midtown, Bernard said, the increase has been even more dramatic. The Asian population there grew 73 percent from 2000 to 2007 and is projected to blossom by another 34 percent by 2012. And they are drawing attention and specialized services from Atlanta’s real estate community.
Bokhee Kim, no relation to Jin Kim, has been handling international clients since 1999 as an agent for Jenny Pruitt & Associates, Realtors. She said many of her buyers come from other American cities such as Chicago, New York and Los Angeles.
“They come to Atlanta and are surprised because of the very good prices,” Realtor Kim said.
Mark Randall, Southeast regional director for Wood partners, a firm currently coordinating construction of the new Trump Tower in Midtown, said his sales are being boosted not only by future residents but also by international investors from Asia and other parts of the world.
“From the investment side, there’s a lot of room for the Atlanta market to improve and grow in value,” Randall said.
Buyers from Asia, accustomed to real estate prices in some of the world’s most expensive markets, are delighted with Atlanta’s offerings, according to Randall.
“They can’t believe what they get for the money,” he said.
Atlanta’s real estate professionals said their Asian buyers are savvy shoppers with clear requirements for what they buy. Jin Kim said his family searched for a home with lots of windows like those he recalls from his years in Korea.
“We wanted a house with a lot of light in it,” Kim said.
Often, Realtors Kim said, Asian buyers are looking for houses with elements of feng shui, an ancient Chinese discipline stressing environments with balanced natural elements and arrangements promoting positive energy flow. Feng shui has recently enjoyed a resurgence of popularity among American decorators and builders. An optimal feng shui house faces south and sits on a flat lot, said Realtor Kim. Young professionals shopping for condos often gravitate to cutting-edge contemporary design which frequently incorporates feng shui elements, according to Randall.
With some $8.1 billion in buying power - $6.7 billion of it in metro Atlanta - projected for 2007, according to the University of Georgia’s Selig Center for Economic Growth, Georgia’s expanding Asian community is likely to play an increasingly important role in the metro area’s residential real estate market.
Harvard’s Joint Center for Housing Studies’ 2007 State of Housing in the U.S. report projects that foreign-born residents accounted for 40 percent of household formation between 2000 and 2005. And legal immigration is expected to add 3.6 million new households to the nation by 2015. Direct flight connections to Seoul and other Asian destinations has also boosted Atlanta’s attraction for Asian homebuyers and investors.
“Our airport really opens up a lot of opportunities here,” said David Tufts, president of The Marketing Directors.
And the easing of limits on South Korean investments in the United States has simulated renewed interest among potential buyers, he said.
Source: CNNMoney.com
Home sales this year will be the lowest since 2002, according to the National Association of Realtors. If you’re struggling to draw attention to your home, you may just have to up the ante. Here’s how to make a deal more attractive to buyers.
1. Shoulder the down payment
This is the biggest stumbling block for most first-time home buyers. Offering to pay a full or partial down payment on the home may make the difference if you’re looking to sell your home. Now, keep in mind that covering the cost of a down payment can be a very expensive proposition. Consider this move only if you’re in a very depressed housing market.
2. Take care of closing costs
Closing costs - like title insurance and taxes - can really add up. They generally make up about 2 to 3 percent of the cost of the loan amount, according to Greg Zadel of Zadel Realty. And that my mean thousands of dollars out of your pocket.
3. Pay with points
Sure, a buyer is going to look at the bottom line here, and price reduction is one of the most common buyer incentives. But in an environment where interest rates are rising, making the interest rate attractive is also important.
A seller could offer to pay points so that a buyer with a 6.5 percent rate pays, say. 5.5 percent instead for the first year. Or the seller could offer to pay the first couple of mortgage payments or moving costs.
4. Think home warranties
More sellers are taking out home warranties, says Connecticut real estate broker David D’Ausilio. The warranty acts like an insurance plan on the major mechanical items in the house, like the furnace or the cooling system. That way the buyer goes in and knows that if anything happens to the appliances or air conditioning units, it will be repaired or replaced. It generally costs about $500 to $750 for a one-year policy.
5. Don’t offer gimmicks
Of course there have been deals where sellers offer a flat screen TV, or a free car or an exotic vacation. But people are looking for a house, they’re not looking for a trip to Paris, says D’Ausilio.
You’re better off spending your time fixing your home’s warts. That means repairing the crumbling stairs, upgrading the furnace or replacing appliances.
Senior Vice President, Managing Broker
Cobb office
The World’s busiest airport continues to expand
Source: KNOWAtlanta magazine, Tammy Vinson
Ten miles south of downtown Atlanta, more than 240,000 passengers pass through Hartsfield-Jackson Atlanta International Airport every day - making it the world’s busiest airport. Last year alone, 980,000 flights carrying nearly 85.5 million passengers pass through the airport.
Georgia’s economy has benefited enormously form the success of Hartsfiled-Jackson; the airport currently provides more than 55,000 directly-related jobs and 18,000 jobs from airport-related businesses. The annual regional economic impact of the airport is over $19 billion, making Hartsfield-Jackson the region’s largest economic engine and a global economic force.
The airport only keeps growing. In the spring of 2006, Hartsfield-Jackson completed an addition to the airport to ease delays and increase travel efficiency. The 9,000-foot fifth runway is projected to reduce delays by 50 percent.
And in the spring of this year, the airport’s new end-around taxiway opened. The U-shaped runway, called Taxiway Victor, is designed to expedite arrivals and departures. The $41.7 million dollar project is expected to improve capacity by reducing delays by 40 percent and increase departure capacity by 21 percent. It is the first of its kind in the nation, and only the second in the world. The latest addition is part of a $5.4 billion 10-year development plan.
Baby Boomers Find Paradise Without the High Cost of Living
Source: KNOWAtlanta Magazine, Pamela A. Keene
When the rest of the nation experiences downturns in the economy and ever-increasing housing costs, Atlanta rises above the fray like the phoenix, the city’s symbol. Born of the hope of rising from the flames after the Civil War, Atlanta has become an international city that rivals other major metropolitan areas with its culture, history, recreational opportunities, transportation and fabulous weather.
Maybe that’s why many are dubbing the city “The New Florida.” The greater metropolitan area is attracting more baby boomers seeking active lifestyles, the chance to be closer to their grandchildren and some of the finest medical services in the southeast.
“Atlanta is blooming with boomers,” says Phil Corley, marketing representative for Del Webb, one of the area’s leading developers of homes for active adults. “Last year, the first wave of baby boomers turned 60 and the number of people age 55 and better in the U.S. will grow from 69 million to 97 million by 2020. With trillions of dollars in spending power, this growing population is calling the shots, and redefining where and how people 55-plus spend the next chapter of their lives.”
According to the Atlanta Regional Commission’s Aging Atlanta project, the number of metro Atlanta residents age 55 and better will double between now and 2030. That means that the time is right to get in on the first wave of retirement to an area that’s bound to continue to grow.
