You are currently browsing the monthly archive for October, 2007.
As part of our signature service offered by Jenny Pruitt & Associates, we are very proud of our many luxury real estate affiliations. Our luxury listings receive international exposure by virtue of our membership with Who’s Who in Luxury Real Estate , a compendium of over 1000 of the finest residential real estate firms from around the world. Inclusion in this directory is by invitation only and is based on each company’s established reputation for performance, experience with high-end properties and quality service.
The affiliated award-winning website LuxuryRealEstate.com currently provides access to over 50,000 for-sale properties, multimillion dollar homes and luxury homes from around the world. The property listings have up to twenty-four photos, four virtual tours, floor-plans and maps, and a detailed property description, with an average price of $2,150,000. Jenny Pruitt & Associates showcases every $1,000,000+ home listed with our company on this site as well as a select group of elite agents featured as luxury real estate specialists.
Source: Atlanta InTown Paper
Considering a remodeling project? You have developed your list of products and have collected pictures of all the features and design elements you wish to integrate into the renovation.
But have you considered design features that will enhance your lifestyle and promote your ability to sustain that lifestyle when you begin to age in your home? Maybe you have a parent that needs to be cared for, or a child who requires special needs. Imagine incorporating some design features that not only meet your needs but provide an environment that supports the needs of all.
The new design thought process of Universal Design is just that. This design process is one that covers the design of products, environments and services that can be used by all in your family regardless of their age or needs. The beauty of this design process is that not only can you achieve the beautiful trendy looks of today’s kitchens, baths, and room designs, but it also ensures an environment that will serve you for many years to come. Along with this, your home will also be attractive to many more buyers because of these design features.
Some examples of these feature include:
- Wider doorways to bedrooms and baths.
- lever-handle door hardware.
- Door thresholds that do not require a step or provide a trip hazard.
- Master bedrooms on the first floor.
- Anti-scald tub and shower fixtures.
- Elevators from drive-under garages or from first floor to second floor.
- Barrier-free showers.
We are seeing some of these features being integrated into homes today, but there is still a lot of work needed to create further awareness.
The National Association of the Remodeling Industry, Homes Builders Association, and AARP are actively involved in providing education to remodeling contractors and builders on the importance of Universal Design. When you are thinking about your next renovation project, make sure to discuss all of your goals for your home and insure that you and your design professional are addressing not only your needs for today, but those for tomorrow.
Source: Move.com
While buying a new home can be exciting, don’t let the enthusiasm for new digs lead down the path to financial ruin. Here are six things to avoid when securing your home financing:
- Don’t put the house before the mortgage - Don’t go out and look for a home, fall in love with one, and then go to lender and say, ‘How am I going to finance this purchase?’ Figure out what you can afford, shop for a mortgage and get prequalified, and then choose a home. That way, you’re less likely to commit to something you really can’t afford, says Mike Fratantoni, senior economist with the Mortgage Bankers Association of America.
- Don’t rely on the lender’s assessment of your finances - Don’t be deluded by the financial expert across the desk into believing you can afford more house than you think you can. A lender will know a lot about you before the process is over, but they have no way of knowing all those family finance idiosyncrasies. “Sit down and draw up your family budget first: Here’s what we think we’d be comfortable with now, and with how that payment can vary over time,” Fratantoni says. “Then the lender can say yes or no as to whether you can qualify for that payment.” If you discover after the fact that the monthly payments are more than you can handle, you could face a huge loss when you have to sell that home quickly. “Worse, you could be forced into foreclosure or bankruptcy,” notes Robert Skrob, executive director of the National Association of Responsible Loan Officers. “It is much better to be patient, buy a home you can comfortably afford, make payments, build equity and then transition into a larger home later.” Read the rest of this entry »
Halloween enjoys an unrivaled reputation for decadence among the society of children. As such, adults often feel compelled to step in and moderate the fun by injecting a touch of healthfulness and frugality into the little sweet treats.
With reports every year on the declining number of trick-or-treaters, one of the most venerable traditions involved risks extinction. This may be dues, in small part, to the overzealous application of health to the holiday.
Here are 10 thirty Halloween treats to consider:
1. Temporary tattoos
2. Stickers
3. Colored chalk
4. Individually wrapped sticks of clay
5. Pennies for wishing
6. Pencils, erasers and pencil toppers
7. Noisemakers and other party favors
8. Balloons
9. Bubbles and wands
10. Chocolate (individually wrapped)
Senior Vice President, Managing Broker
Sandy Springs office
Atlanta Ronald McDonald House Charities (ARMHC) will host its 10th annual Brookhaven Tour of Homes & Gardens, benefiting the Atlanta Ronald McDonald House programs on Thursday October 18 from 5:30 to 9 pm and Friday, October 19 from 10 am to 2 pm. Two-day tickets are $65 in advance and $75 the day for the tour. One-day tickets are $40 in advance and $50 the day of the tour. Advanced tickets may be purchased online or by calling (404) 315-1133 ext. 19.
To commemorate the 10th anniversary of this event, RMHC has expanded the tour by adding a second day, featuring a total of nine homes and gardens including both new homes and popular homes from past tours. “The response from the Brookhaven community has been tremendous. We feel honored to showcase these extraordinary homes and landscapes in the name of ARMHC. These homeowners have graciously opened their hearts and their doors to us so that the Ronald McDonald House programs may open doors to even more families in need,” says Randall L. Allen, Brookhaven resident and Atlanta Ronald McDonald House Charities chairman.
The presenting sponsors of the event are Jenny Pruitt & Associates, REALTORS along with Ruth Skogstad and Kristen Sodemann of The Skogstad Team. “As a Brookhaven resident, I am a long time supporter of the tour. We hope the extended hours will increase attendance allowing us to share the beauty of Brookhaven with an even greater audience as we support one of Atlanta’s finest charities,” says Ruth Skogstad.
The Roswell Woman’s Club held a luncheon Thursday, Oct. 11, at Ivey Mills (one of Jenny Pruitt & Associates New Homes communities) in Roswell to recognize and thank the more than 50 designers and design firms who have teamed to decorate the three homes in the community that will be featured on the club’s 2008 Showcase Homes Tour March 9 through 30, 2008.
Ivey Mills, which is being marketed by Jenny Pruitt & Associates New Homes, is an intimate community of 22 homes priced from $1.2 million. The three homes on the Roswell Woman’s Club 2008 Showcase Home Tour are being built by Glenn Knowles of Moncler Homes LLC, Jason Rosen of Rosen Custom Homes LLC and Randall Tharp of Tyson Homes. Read the rest of this entry »
The simple answer to this is yes! There is no doubt that everything in a contract in negotiable, but a home warranty is essential to any homebuyer. The idea of adding some limited protection to your investment via a home warranty just seems to make common sense.
If you decide that you do wish to include a home warranty in the purchase of your home, what should be included in the warranty? Most common types of warranties will not cover everything in your home. In the $300-500 range most should include the coverage of appliances such as heating/air conditioning, plumbing, sump pump, garage door openers, etc. and electrical. You’ll need to read the entire document on exactly what is and is not covered in the policy. Be sure to read the fine print so there are no surprises.
In addition, most home warranty policies have limitations that you should be aware of and are often described as pre-existing defects. You should hire a professional home inspector to discover defects that may not be covered by your warranty. For example, if the heating system has a cracked heat exchanger, the warranty company would not cover that defect. Even though most electrical may be covered, typically items such as attic fans ans smoke alarms probably would not be covered. Again, be sure to read the fine print and know the limitations. Many policies offer riders that would cover any extra items that are important to you!
As always, consult with your Jenny Pruitt & Associates, Realtor for advice on which home warranty program may be best for you and your particular needs.
Senior Vice President, Managing Broker
Sandy Springs office
How to Play the Real Estate Bounce-Back
Source: CNN.com
Projected median sales price for single family homes:
Q1 2008: $177,750
Q4 2009: $187.640
Growth: 5.6 percent
Half a million dollars probably won’t buy you a home in one of Atlanta’s Martha Stewart-style neighborhoods. And that’s a good thing. The smart money here will move upmarket, in exactly the opposite direction of where it will go in New Orleans. A contrarian by nature, the biggest arbitrage in properties priced at $750,000 in high-end communities northeast of the city - suburbs like Druid Hills, Duluth, Johns Creek, and Suwanee. The construction cost of a home in those pockets is $260 a square foot; right now, you can pick one off for $180.
Boding well for the local economy, “Hotlanta” boasts one of the highest rate of job growth in so-called creative-class occupations in the country. Why? It’s the top destination in America for young professionals, a transportation hub (Atlanta’s airport is the busiest in the world), and a place where most Fortune 500 companies maintain a regional presence. Projections by researchers at the U.S. Census Bureau and Virginia Tech place Atlanta at the center of a “megapolitan” cluster of urban sprawl that will develop over the next quarter-century, encompassing 7 million people.
This points to another niche real estate play: as buildable land around the city disappears, downtown neighborhoods on the brink of transformation are ripe for investment.
Senior Vice President, Managing Broker
Cobb office
LuxuryRealEstate.com’s12th Annual Luxury Real Estate Membership Conference brought more than 250 real-estate brokers and agents from a half-dozen countries to the Fairmont Hotel Vancouver from Sept. 29 to Oct. 2. With dynamic discussions, inspirational speeches and coveted industry awards, this conference emphasized the positive side of the international luxury market that is currently being ignored.
“This is truly an international community gathered at this conference,” said John Brian Losh, the CEO and publisher of LuxuryRealEstate.com, and broker, chairman and CEO of Ewing and Clark, Inc. in Seattle. He acknowledged the presence of luxury experts from Dubai, Thailand, Canada, Panama, Mexico and the United States at the conference. He also eulogized Nora Demetriou, LuxuryRealEstate.com’s director in Greece, Board of Regents member and president of World Properties & Investment in Athens, Greece who died tragically on Aug. 31. “Every friend we make is a gift, and every day we have is a gift,” he said. After the award ceremony on Monday night, guests enjoyed a musical performance by George Dyer, an internationally acclaimed opera singer.
In addition to offering accolades, this conference also included a variety of discussions on the current market. These discussions focused on relocation and referral generation, technology trends, innovative marketing strategies, international networking, and gaining positive media coverage. The speakers and discussion leaders included Ellen Terry of Ellen Terry, REALTORS® in Dallas, Juan Francisco Pardini of Business Panama Real Estate in Panama City, Karen McRae of Jenny Pruitt & Associates, REALTORS® in Atlanta, and many others.
The next LuxuryRealEstate.com event is the 3rd Annual European Conference, which will be hosted in Salzburg, Austria from Jan. 24-25, 2008. For more information on Jenny Pruitt & Associates’ Who’s Who in Luxury Real Estate elite agents, please click here.
Atlanta Ronald McDonald House Charities Marks 10th Anniversary of Brookhaven Tour of Homes and Gardens
Atlanta, July 23, 2007- Atlanta Ronald McDonald House Charities (ARMHC) will host its 10th annual Brookhaven Tour of Homes & Gardens, benefiting the Atlanta Ronald McDonald House programs on Thursday, October 18 from 5:30 to 9 p.m. and Friday, October 19 from 10 a.m. to 2 p.m. Two-day tickets are $65 in advance and $75 the day of the tour. One-day tickets are $40 in advance and $50 the day of the tour. Advanced tickets may be purchases online at www.armh.com or by calling (404) 315-1133, ext. 19.
To commemorate the 10th anniversary of this event, RMHC has expanded the tour by adding a second day, featuring a total of nine homes and gardens, including both new homes and popular homes from past tours. “The response from the Brookhaven community has been tremendous. We feel honored to showcase these extraordinary homes and landscapes in the name of ARMHC. These homeowners have graciously opened their hearts and their doors to us so that the Ronald McDonald House programs may open doors to even more families in need,” says Randall L. Allen, Brookhaven resident and Atlanta Ronald McDonald House Charities chairman.
The presenting sponsors of the event are Jenny Pruitt & Associates, REALTORS along with Ruth Skogstad and Kristen Sodemann of The Skogstad Team. “As a Brookhaven resident, I am a longtime supporter of the tour. We hope the extended hours will increase attendance allowing us to share the beauty of Brookhaven with an even greater audience as we support one of Atlanta’s finest charities,” says Ruth Skogstad.
Friday, September 28, 2007
Atlanta Business Chronicle - by Lisa R. Schoolcraft Staff writer
Atlanta’s housing market is facing a challenging time. The same might be said of Dan Parmer, who has taken the helm at Jenny Pruitt & Associates, Realtors Inc.
Parmer, with more than 30 years of experience in the mortgage and residential real estate business locally, became CEO and president of Jenny Pruitt & Associates in April.
He had been company chief financial officer since 2001.
Shortly after he started his new job, the namesake of the company, Jenny Pruitt, and several key officers and real estate agents started their own company.
Competition is the nature of real estate, Parmer said, who said the culture — and name — of Jenny Pruitt & Associates won’t change.
Parmer’s role is to guide the company through a difficult time in the residential real estate industry.
“We’re going through a legitimate correction in mortgage and real estate companies,” he said. “It has been more dramatic for mortgage companies.” Read the rest of this entry »
For the second year in a row, local real estate company Jenny Pruitt & Associates, Realtors will partner with Campbell and Brannon, LLC and Stewart Title to sponsor the Second Annual Charity Golf Tournament benefiting The Potter’s House Homes for Children, Inc., an organization that supports formerly neglected and abused boys who can no longer remain in foster care.
The event, scheduled for Thursday, Oct. 4, 2007 at St. Marlo Country Club, was a huge success in its inaugural year, as it raised more than $20,000, and is hoping to exceed its accomplishments this year. With the help of company and individual sponsorships and donations, 100 percent of all donations have and will continue to go straight to The Potter’s House.
Through the love, support, guidance, and devotion from Jeffrey and Vivian Tobais, founders of The Potter’s House, the boys are not only given a home with a proper nurturing and caring environment; but, they are also given the opportunity to develop into healthy young men who will grow to become strong future leaders. Their integration back into school and society is dependent upon the kindness and support provided through donations from caring individuals.
Please consider supporting this great cause by spending a fun day on the golf course this October 4th, sponsoring a hole, donating a silent auction item and/or attending the cookout with the boys. This is a great opportunity to meet these fine young men. To find out more about the golf tournament, The Potter’s House, or how you can make a donation, please visit their website.
Source: Atlanta InTown Paper
Hysteria over Foreclosures Exaggerated
The great “Mortgage Meltdown” of 2007 received plenty of press over the summer, especially when HomeBanc announced it was closing its mortgage arm.
Realty Trac, an online company that follows foreclosures nationwide, reported that two million foreclosures could happen by year’s end and that five states - California, Florida, Michigan, Ohio and Georgia - accounted for more than half of the nation’s foreclosure filings. However, many Intown mortgage brokers feel the gloom and doom has been exaggerated.
All agree that a major cause of the so-called crisis are first-time homeboys who took on large mortgages and now can’t afford their monthly payments. Consequently, mortgage companies will be looking more closely than ever at debt, job security and whether a first-time buyer is biting off more than he or she can chew financially.
Steven Alexander with National Guaranty Mortgage Corporation in Buckhead said he’s tired of reading so much negative reporting about the mortgage situation. He said the hysteria over HomeBanc’s dramatic closure had nothing to do with the downturn in mortgages.
“It’s a great time to buy,” Alexander said. “Interest rates are low and there are a lot of homes on the market. Analysis shows that you get a lot more for your money in Atlanta over places like Chicago, Boston, New York and Los Angeles.”
Alexander acknowledged that the market for sellers has been sluggish, but no “bubble is about to burst.” He said Intown has maintained its value, give or take five percent. Read the rest of this entry »
