Author Archive

Dan Parmer, President and CEO of Jenny Pruitt & Associates, has announced the addition of Allen Crosta, part of the Utana Bluffs development team, to Jenny Pruitt & Associates, REALTORS®.

“We are pleased to welcome Allen to Jenny Pruitt & Associates and are looking forward to including the Utana Bluffs Development in our second home and resort division,” says Rob Owen, Sr. Vice President and Managing Broker for the Buckhead office where Crosta will be based. “We are delighted that Allen has chosen to be a part of Jenny Pruitt & Associates.”

Crosta is a member of the Atlanta Board of Realtors®, the Georgia Association of Realtors®, the National Association of Realtors®, and attended the DIRE School of Real Estate.

According to the development’s website, Utana Bluffs, less than an hour and a half from Atlanta, is located in Gilmer County, just south of the Cohutta Wilderness Area. Comprised of 40,000 pristine acres, residents of the Utana Bluffs enjoy mountains, rivers, waterfalls and hiking trails. The master plan incorporates large, heavily wooded home sites accessed by paved roads with underground utilities. Green space incorporates picnic and lookout pavilions, ponds, meadows and access trails to the Chattahoochee National Forest.

For more information on Utana Bluffs, visit their website.

Jenny Pruitt & Associates, REALTORS, in partnership with Billian Publishing, released the spring issue of The Atlanta Collection magazine on May 1, 2008. This latest issue marks the company’s twelfth year of production and first ever companion “green” edition of the magazine, which was produced to offer an additional efficient means of distribution.

President and CEO of Jenny Pruitt & Associates, Dan Parmer explains, “As a company, our agents and staff take pride in being on the leading edge of new industry practices. With the help of Billian Publishing, we were able to develop a customized digital version of the popular publication known as a “digizine.”  The digital edition of The Atlanta Collection was created to showcase the publication in an electronic format that can be e-mailed to existing and prospective clients.” The digizine concept is unique in the sense that the viewer can “virtually” turn the pages of the magazine, flip to any page instantly, and it is 100 percent environmentally friendly.  Additional benefits include increased distribution capabilities with online links on Jenny Pruitt & Associates’ website www.jennypruitt.com, our blog, and the magazine’s own website www.atlantacollection.com.

More environmentally conscious efforts were put in place during the magazine’s production when agents were offered an online ad submission process enabling the company to eliminate excess paper waste.  Rather than using traditional means, such as paper submission forms, sales associates utilized a unique online “form” further promoting the company’s efforts to “go green.”

Since its debut in 1996, The Atlanta Collection has reached a wide array of residents in metro Atlanta and the US. There are more than 120 outstanding homes presented in this issue, with a median sales price of more than $1.8 million. With a total print distribution of over 40,000 copies, The Atlanta Collection is direct- mailed to many of Atlanta’s most affluent residential areas including Brookhaven, Buckhead, Dunwoody, Midtown, Morningside, Druid Hills, Sandy Springs, Vinings, East Cobb, Alpharetta, Roswell, and Duluth.

Jenny Pruitt & Associates, Realtors today announced the appointment of David Kaufman as associate broker of the Johns Creek office.  In his new role, David joins Rhonda Haran, senior vice president and managing broker, in overseeing the office’s daily operations.  He is responsible for marketing initiatives, advising sales associates and building an outstanding team of agents.

Previously, David was a top agent in the Johns Creek office ranking among the top five agents companywide in 2006 and top ten in 2007. 

Dan Parmer, president and CEO of Jenny Pruitt & Associates, said, “I am very excited to have David as our new associate broker.  His professionalism, deep knowledge of the real estate industry and leadership capabilities make him an outstanding choice for this position.”

David joined the company’s North Fulton office in February 2003 as a new agent and achieved Million Dollar Club status his first year.  In 2005, David was a founding member of the Johns Creek office and was honored as the number one sales associate.

David has continued to achieve Million Dollar Club status and is now a lifetime member.  In 2006, he earned his Broker’s license and ranked 26 companywide.

David brings over 11 years of management experience to our team and spent eight years pursuing his passion for golf, which he still enjoys and often participates in “long drive competitions.”

A native of Lakeland, Florida, David resides in Dunwoody.  In his leisure time, he enjoys golf, tennis, bowling, softball, and is an avid supporter of the Breast Cancer 3-Day Benefiting Susan G. Komen for the Cure.

Jenny Pruitt & Associates, REALTORS® proudly announces the addition Simone Hoffman to its East Cobb office. As a licensed REALTOR® since 1988, Hoffman brings a wealth of experience and knowledge of the metro Atlanta area to Jenny Pruitt & Associates. Her familiarity with housing trends, homebuilders, and Atlanta’s vast real estate markets and area neighborhoods make her an expert in the industry.

Jeanne Linden, senior vice president and managing broker for the East Cobb office, says, “I have known Simone for more than 20 years. I am absolutely thrilled she will join our team of outstanding sales associates at Jenny Pruitt & Associates. She will be a great asset to our company and team of agents.”

Hoffman has helped buyers and sellers with their most important financial commitment of buying a home for 20 years. She specializes in relocation and represents the new construction market, as well as traditional resales. Hoffman is a Phoenix award recipient - denoting over 10 years in the Atlanta Board of REALTORS® Million Dollar Club. She has been the Cobb County Board of Realtors Top Agent for 2001-2002 and 2006-2007. Hoffman has been in the Communities Top 100 Realtors for seven years and is a member of the John Wieland Board of Councilors. In addition, she is a Certified Residential Specialist, Accredited Buyer Representative and a Luxury Home Marketing Specialist.

Source: Parade Magazine

Whether you’re a buyer or a seller, you need a competitive edge to get ahead in real estate today. Here are some solid strategies to help you get the most out of the market.

If you want to buy…

Be an attractive risk. Your credit score determines the interest rate a bank will give you on a mortgage. The difference between decent and terrific credit can add tens of thousands of dollars over the life of the loan. To improve your rating, pay down your credit-card bills. Lenders want to see that your debt doesn’t exceed 30% of your available credit. But don’t close an account once you’ve paid it off - doing so actually will hurt your score.

Buy only what you can afford. Most banks now require a down payment of 20%, but if you’re an attractive borrower, 10% may suffice. Still, the less you put down, the more you’ll pay in fees and interest. Spend no more than a third of your total pre-tax income on housing costs: mortgage, homeowners’ insurance, maintenance and property tax. Figure maintenance to be about 1% of the value of your house each year.

Choose your loan carefully. Many homeowners are in trouble because they took out adjustable mortgages with low interest rates that later spiked. A 30-year, fixed-rate mortgage is your best bet - adjustable mortgages don’t offer the rate breaks they did during the boom. Use the Internet to do your research. You’ll find articles, statistics and general resources that will help you determine which banks offer the best rates in your area and around the country.

Lowball ‘em. Bidding wars over a house are uncommon in today’s climate. Sellers anticipate having to drop their asking price, so don’t bite at the listing price. Bid low and see if the seller will come down.

If you want to sell…

Think twice before you sell. This is a bad time to expect big returns. If you don’t have to sell now, don’t. Make inexpensive improvements and wait until the market factors are more in your favor.

Find the best broker. A year ago, you could have asked agents to cut their commissions because houses sold themselves. Now you’re better off paying the full 6% to ensure you’ll get the best service. Local agents are best. They know the selling points of your community - and your house - and can be present to show it to buyers at a moment’s notice. Look for pros with at least eight years experience. If they worked in the business before the boom, they’ll do more than just weigh the best offers.

Make sure the price is right. A good agent will know what numbers get the best response from consumers. Studies show what buyers react to break points, or psychological limits. For example, a buyer with a budget of $250,000 may be willing to pay $249,000 but not $251,000. If your home is valued at $310,000, consider listing it at $300,000 or even $299,000 to maximize its sales potential.

Know which way the wind is blowing. Pricing in a free-falling market is dicey. Bard Inman, publisher of a real-estate trade publication, recently helped his parents sell their condo in Las Vegas. Pricing it at a market value of $185,000 to $195,000, he says, would have been a disaster. “We had to anticipate how much prices would fall in the time it would take to close [30 to 60 days].” So they listed the condo at $175,000 while comparable condos lingered on the market until owners cut prices by $10,000 to $20,000. “You want to avoid time on the market to stay ahead of the falling knife,” says Inman.

Senior Vice President, Managing Broker - Cobb office

Source: TodayShow.com

Before taking the plunge to buy a new home, find out if it’s a good deal

So you think you have found the house you want. It’s been a long search, and you feel about ready to give in and move in. Before you take the plunge though, you should stand back a moment; this is a big commitment and there are a lot of things that could stand between you and the happiness you seek in your future home. There is also a good chance you can get a better price.

Why not put your broker to work and ask some key questions? They will help you determine whether or not the home you’re about to buy is actually a good deal. These are tough questions that could save you a bundle:

Why are the owners selling?
The broker doesn’t have to tell you (they’re getting divorced, they’re moving to Dallas, etc.), but when you uncover the reason they’re selling, it tips their cards and is the best indicator of how anxious the seller might be. This in turn lets you know how willing they might be to negotiate.

How long has the house been on the market? Can you give me its pricing history?
A house that’s been on the market for two months with three price reductions gives a whole different message than a house that’s been on for two months with no price reductions. The owner of the first house is far more negotiable. Read the rest of this entry »

Selling a home while you’re living in it can be trying during any market. Today’s sellers are generally looking at a longer marketing time than was the case a few months/years ago. Appropriate pricing for this changing market can make it easier. So can taking a few precautions:

The houses that look the best are the ones that get serious attention from buyers. Preparing a house for sale is more important than ever! Keeping it in pristine condition can be a challenge for sellers with small children and pets.

One benefit of decluttering your home before you try to sell it is that you’ll have less to clean up before a showing. Some sellers find it helpful to keep everyday essentials like toothbrushes and children’s favorite toys in plastic tubs. These can be hidden in a closet, under a sink or under a bed and brought out when the public is not around. Before showings the tubs can be quickly filled and stashed away.

Your house should look its best when a prospective buyer comes through, so set up a showing procedure that asks buyers to give a courtesy call before showing.

HOUSE HUNTING TIP: Don’t be restrictive with showings. It’s difficult to sell a house that cannot be shown. You need to strike a balance between accommodating buyers and being inconvenienced. If a buyer wants to come on short notice, try to keep in mind that some of the best buyers are relocating from elsewhere and may not have much flexibility in their schedule. Don’t be rigid and miss one of the best opportunities to sell your home.

Helen Lynch
Senior Vice President, Managing Broker - Sandy Springs office

Source: AJC Homefinder.com

Atlantans travel 131.7 million miles every day. (Source: 2005 Air Quality Report, Georgia Regional Transportation Authority)

The average one-way commute in Atlanta is 19.7 miles, and the average one-way travel time is 35.9 minutes. (Source: Atlanta regional commuter survey, 2007, conducted by the Center for Transportation and the Environment on behalf of the Georgia Department of Transportation)

You probably don’t need Homefinder to tell you that traffic is tough in Atlanta, and commuting times are getting longer.

“Over the past 10 years, daily traffic on Georgia’s urban roadways has increased by 51 percent, and as one of the fastest growing metro areas in the country, Atlanta traffic is likely to keep getting worse,” says Tracy Paden of the Clean Air Campaign.

“Research shows that 16 percent of Atlanta commuters moved residences or changes jobs within the past year. Of those, 42 percent said the ease of their commute was more important than other factors in their decision to move or change jobs; 34 percent said it was of equal importance,” says Paden.

Advice from a Realtor

Craig and Barbara Christie of Jenny Pruitt & Associates sell a lot of homes near MARTA and bus lines to commute-conscious buyers. “We find a lot of people have heard about the traffic issue in Atlanta, but they didn’t realize the magnitude of it. They buy a home and then get discouraged in their quality of life, and they want to make a change,” says Craig.

The Christies are often in the positionof advising their clients on things to consider when buying for a better commute. Craig says, “What we’re looking for is a win-win, where they get a better quality of life and a home that meets their needs. A lot of it is like any home buying purchase, but here are several things to consider when buying with commuting in mind.”

• Does this home fit my lifestyle? Price is an issue, so if you’re moving closer to downtown, you may not find a large lot on a cul-de-sac in your price range. If the commute is right, do the house and the neighborhood have enough of what you’re looking for? Do you feel comfortable there?
• Will the commute allow me to spend more thing with my family? This has a huge impact on quality of life. Being home in time for dinner or to participate in school activities can make a big difference. Are there churches, synagogues or mosques nearby.
• Reducing your commute can substantially reduce your auto insurancerate, as well as cut gasoline and maintenance costs. Will this offset any additional costs in home expenses? Can your family now keep only one car instead of two? Saving this much money can even help you secure a 15-year mortgage instead of a 30-year mortgage, accelerating the equity in your home. Some mortgage lenders say they’re more likely to approve a larger mortgage for a person with one car, instead of two or three.

Source: USA Today. April 24, 2008

Real estate agents are increasingly courting foreigners to buy homes in the USA - hiring agents fluent in other languages, marketing to foreign buyers and in some cases, offering to pay the airfare and hotel bills of foreign shoppers who buy a home.

The agents are eager to win the business of foreign investors who are swooping in to buy property in the USA as home prices plummet and the dollar’s weak value produces eye-popping deals for international buyers.

Because of the sinking value of the U.S. dollar relative to other currencies, a home bought by a foreigner comes with a discount averaging 30%, the National Association of Realtors estimates. Between April 2006 and April 2007, about 30% of foreign buyers came from Europe, according to an NAR survey.

Nearly one-third of Realtors reported in that survery having had business with foreign buyers. Activity is especially busy in affluent cities such as New York and in warm-weather vacation destinations such as Miami and San Diego. Many of these investors, Realtors say, are buying homes as vacation retreats.

“With these prices, you can’t say no,” says Monique Burger of Belgium, who’s buying a Miami Beach vacation condo for $270,000. “With the low dollar against the euro, it helps. And the low housing prices made us want to buy.”

Agent are seizing the opportunity:

• In New York, real estate agent Jacky Teplitzky’s firm has staff lawyers who specialize in foreign buyers. Sales to foreigners jumped from 10% of her business to nearly 25% in the past year or so.

Teplitzky says she’s seeing a surge in interest, especially from Britain, Italy, Spain and Russia. In April, an Italian buyer in town for Easter took just 48 hours to buy a $3.8 million two-bedroom condo. Teplitzky recently sold $30 million worth of property to Russians who are using the homes as pieds-a-terre.

“We’re a bargain right now for foreign buyers,” she says. “A lot of them looked two or three years ago and found themselves in too crazy a market.”

• Jenny Pruitt & Associates, Atlanta-based Realtors, is wooing foreign clients by maintaining agents who speak such languages as Dutch, Korean, Farsi and Arabic. A search function on its website can help locate a foreign-language-speaking agent. Recently, the agency sold a $2.2 million listing to a British couple who were amazed at the value for the price. The couple had upgraded from a 2,000-square-foot flat in London to a 9,000-square-foot home in Atlanta.

Source: Southern Living April 2008

Think your landscaping is hopeless? Think again. We overhauled this lackluster lawn and got big results in just four months. Follow these steps, and see the difference.

It all starts with standing at your curb and making an honest evaluation. Before the first shrub is planted, take a good look at your home. Follow these no-fail tips for updating your outdoor look.

1.  Start with a simple, smooth bed line. No wimpy curves allowed. When in doubt, swing it out. You won’t regret the extra room when plants start to grow in. This bed line should start on one side of the yard and move your eye across to the other. Space plants within the bed so that they echo this curve. Why you’ll be glad you did: Good bed lines can camouflage design flaws and waning plants. They also make it easier to mow the grass.
2. Don’t clog corners. Give them breathing room. Too often we overplant the ends of our homes with a pyramid of plants that grow beyond their bounds. Instead, work in layers. Beneath a single crepe myrtle, we planted seven ‘Olivia’ Indian hawthorns that will max out around 4 feet tall. Ground-hugging ‘Purple Pixie’ loropetalums and ‘Happy Returns’ daylilies front and flank this pairing. Why you’ll be glad you did: You’ll save money now and spend less time pruning later.
3. Mass plants for impact. Keep your plant and color palette to a minimum. Satisfy your desire for saturated hues with groupings of ‘Serena Purple’ angelonias, ‘Landmark Gold’ lantanas, ‘Double Knock Out’ roses, and chartreuse sun coleus. Why you’ll be glad you did: Clustering your plants creates a big effect. A garden of singletons doesn’t look like much. Later, you’ll wonder where your money went.
4. Surround sitting areas with plants. Sure, you want to be friendly with the neighbors, but who really wants to relax on the lone bench that sits beneath the tree? By using plants, you can still survey your domain without feeling as if you’re on display. Set back 10 feet from the walk and staged on an 8-foot-diameter flagstone landing, our Adirondack chairs are nestled in a sea of hostas relocation from the backyard and a collection of Halo Series hydrangeas. Why you’ll be glad you did: You’ll actually use the space.
5. Place details where they can be appreciated.Why waste money? Plants with interesting attributes should be used where they’ll be noticed. ‘Chocolate Chip’ ajuga is a winner when paired with autumn fern. Around mailboxes, at the ends of walks, and along driveways are other natural choices. Why you’ll be glad you did: This combo is a favorite!

So you are ready to put your home on the market and look for your dream home? There is no doubt that this market can allow you to sell your home for a premium and find a deal in the marketplace. There are several tips that can help you sell your home for the highest price in the shortest amount of time.

1. Listing your home with a Jenny Pruitt & Associates, Realtor is the smartest move you can possibly make! Jenny Pruitt & Associates Realtors’ are the best in the industry for selling your home for the most the market can bear and in the shortest amount of time.
2. Ask your Jenny Pruitt & Associates Realtor to help you de-clutter your home. A home that is well organized and free of that clutter will give your home a feeling of more space.
3. Clear off countertops in the kitchen, baths and other areas in your home. Again, this will allow your home to appear more spacious. Your refrigerator, cook-top and baths should sparkle.
4. Clean out your closets. Put part of your clothes in storage to make your closets seem to appear larger than they are. Clean out all the cabinets under sinks in baths and in the kitchen. Space, space, space!
5. Remove all of your personal photographs. Buyers want to see themselves living in the house and not your family.
6. Remove as many of your personal items as possible. It gives an un-cluttered appearance and the buyers can see themselves living there.
7. Hire a professional home stager to stage your home for sale. Your Jenny Pruitt & Associates Realtor can suggest a professional.
8. De-clutter your yard and outside your home. As clients see your home for the first time, it should give them a wow factor!
9. You might consider painting the outside of your home or maybe just the front entrance.
10. When you leave your home for the day, be sure it sparkles and leave as many lights on as possible. A light and bright home is a joy for a client to see.

Jim Alexander
Senior Vice President, Managing Broker - Sandy Springs office

Source: Mark Nash, Realtor Magazine

IN:

• A reduced carbon footprint: How you and your home impact the Earth matters to more buyers who want a home that lets them save energy and lessen their contribution to global warming.
• Outdoor living: Massive fireplaces, outdoor kitchens, and under-patio heating to extend the season are not just for the Sun Belt anymore.
• Fully concealed appliances: That wood-printed cover for the fridge is not enough any longer; now appliances are hidden behind hinged doors.
• Floating homes: Not your father’s houseboat, these nonmobile homes are basically ranch houses sitting on stationary barges in a lake or river.
• Home elevators: Even builders of mid-priced homes are adding this, which is essential for boomers wanting to age in place.
• Pet showers: Clean pets mean clean homes, and who want to mess up the bathtub when this feature can be a part of the garage or mudroom?
• Freestanding bathtubs: These oversized soaker tubs, or “bath thrones,” have supplanted whirlpool baths as the must-have bathroom centerpiece.
• Bathroom suites: Whether it’s multiple flat-screen TVs or a mini fridge and cappuccino maker, you’ll soon have a whole home inside this one room.

OUT:

• Living rooms: The incredible shrinking parlor has ceased to exist in some homes.
• Voluminous ceiling heights: The absurd look and wasted space of 20-foot ceilings in 12- by 10-foot rooms in finally dawning on buyers.
• McMansions: Could it be that “small is beautiful” is finally gaining traction?

Jeanne Linden
Senior Vice President, Managing Broker
Cobb office

Source: CNN.com

Are job worries tempting you to start your own company? CNN canvassed the country to find towns with the best mix of business advantages and lifestyle appeal.

#3. Buford, Georgia

Population: 13,576
Pros: Affordable housing, scenic environment
Con: Aggressive competition for labor force

Safe neighborhoods, affordable real estate and a relaxed pace, along with easy access to major highways, draw Georgians to lakeside Buford, 35 miles northeast of Atlanta. Besides being home to an artist colony with 40 working painters, photographers, sculptors, and other creative types, Buford also draws entrepreneurs: about 30 new startups launch every month in this 16-square-mile city, according to Buford’s occupational tax clerk.

As part of Gwinnett County, Buford is involved in the region’s greater effort to develop its presence in industries such as healthcare, information technology, distribution and trade, and advanced communications. Depending on the business, owners may find tax exemptions (for instance, a 100% sales tax break for qualified manufacturing equipment), tax credits (such as the job tax credit for certain tech industries creating at least 25 jobs in a single year), and assistance in permit acquisition and hiring. Active small business organizations, such as the nonprofit Buford Business Alliance, bring member owners together for networking events and to promote tourism in the area.

Besides lakeside activities such as boating and fishing, the area downtown bustles with restaurants, boutiques, and art galleries. There’s also the Mall of Georgia, the largest in the Southeast, with 15 million visitors a year.

On February 26, 2008 Dekalb County approved the Inefficient Plumbing Fixtures Replacement Plan. Any home built prior to 1993 must have low flow toilet and plumbing fixtures installed before the homeowner can obtain water from the county.

Effective June 1, 2008, sellers will be required to disclose the Dekalb County Ordinance when selling their homes. Listing agents in Dekalb should add a notice of this ordinance to the seller’s disclosure and/or sales contract. Before the new homeowner can obtain water service, they must provide written proof from a home inspector, licensed plumber, or a Department of Watershed Inspector. This certificate will be required with their application for water service.

Single family homes and condos will need to have the following:
1. Toilets can have a max of 1.6 gallons per flush
2. Shower heads can put out a max of 2.5 gallons per minute
3. Lavatory faucets can put out a max of 2 gallons per minute
4. Kitchen faucets can put out a mac of 2.2 gallons per minute

Based on average home sales statistics, Dekalb County foresees saving 360,000 gallons of water a day by enacting this ordinance and predicts it will take more than 33 years to replace all of the older water guzzling toilets and fixtures.

There are some exemptions to this ordinance and they include the following:
1. Foreclosure sales
2. Family sales > from spouse to spouse or from parents to their children
3. Homes that will be demolished after the sale
4. Circumstances where the cost of the toilet will be over $1,000.00 per toilet change out

If you violate these new laws, you are subject to the following penalties:
1. First violation will be warning
2. Second violation (within 12 months of first violation) will be $250.00
3. Third violation (within 12 months of first violation) will be $500.00

Senior Vice President, Managing Broker
Sandy Springs office

Source: AJC Homefinder    By Clare Morris

Designer envisions more European, modern styles

No matter how big the house, it always seems that they crowd winds up in the kitchen. So it’s no wonder that this room gets a lot of attention when it comes to design, styling, decor and function. If you’re looking to give an existing kitchen a face lift or are designing one for a new house, take some inspiration from the Europeans.

They’re on the cutting edge of the most popular kitchen styles these days, said Becky Sue Becker, a certified kitchen designer and president of the Georgia chapter of the National Kitchen and Bath Association. “The market right no is very inspired by what the Europeans are doing,” Becker said. “They’re using clean lines, and Americans have become more accepting of that, because it suits out busy lives. We have less time to maintain the fancier elements.”

The “clean” look means less detail in the cabinetry and sleek, flat-panel door fronts. It also includes simple counter supports and trim work that’s not extremely ornate. Yet adjectives such as “clean,” “sleek” and “contemporary” don’t seem to fit with Atlanta’s penchant for traditional, detailed styling.

“It’s true, Atlanta is predominantly a traditional market, but I’d say, in the last three years, I’ve gone from a business with 10 percent modern projects to doing more than 50 percent,” Becker said. “There’s also been a strong movement toward the mission or arts and crafts designs that are much more streamlined.”

No matter how sleek they’re getting, there’s no question that kitchens are getting better, Becker said.

“Today’s kitchen is easily 30 percent bigger than it was 10 years ago,” she said. “And they’re becoming so much more than just kitchens. Desks are coming back in. We had been taking them out, but, with the kitchen being the hub of the home, a command center there is coming back. It could be a place for the main computer for the home, where the kids can do their homework - a place that can handle more tasks than just holding the phone.”

While command centers are popular, keeping rooms may be on the way out, as families shift back to great rooms.

“People have realized that the keeping room is usually too small for a large family,” Becker said. “Now it’s the space that could be turned into the command center instead.”

Source: AJC Homefinder 

Dreamers, buyers can benefit from show homes

Turn a second-floor corner in a new $1.79 million Roswell home, and it’s like Alice falling down the rabbit’s hole into Wonderland.

A hallway leads you into another world, an unexpected and imaginative playroom full of whimsical decor.

Colorful bottle caps are embedded in the tile backsplash in the kitchenette. The couches are made of warehouse platform dollies on wheels with two twin mattresses. Family photos and mementos are displayed behind mesh screens. Valances made of neutral strips of burlap, cotton, linen and other fabrics are tied to such vintage household items as hinges, utensils and doorknobs to create a fringe effect. A glass table top is supported by an old child’s pedal car.

Travel past the black sculpture-like entertainment center made out of assorted objects (including chairs, a typewriter and radio), and instead of a closet, the L-shaped space turns into a playhouse that looks like it’s from a Victorian children’s novel.

The room, created by interior designer LaWayne Johnsen, fills Carol Harrison and other visitors to the 12th Annual Roswell Woman’s Club Showcase Home Tour at Ivey Mill with ideas to consider using in their own homes.

Often, it’s possible to buy the one you’re touring. Agents are on hand at the Roswell tour and others throughout the year in metro Atlanta to raise money for a cause and showcase design and building talent.

As Harrison walked through the three homes on the tour, which runs through March 30 and features three builders (Moncler Homes, Rosen Custom Homes and Tyson Homes), she noticed such details as beadboard doors in addition to the work of local designers.

“Even if you’re not going to have a $2 million home, you could say, ‘This is a really cool door. I could do this,’” Harrison said. “There are details of either the decor or the actual detail in the house that you might be able to incorporate in your own humble dwelling.”

Show homes help sell homes because they offer house hunters an opportunity to see what it could be like to live there, agents say.

“The one [response] we love to hear obviously is, ‘When can I move in?’ ” said Betsy Franks, senior vice president and managing broker of Jenny Pruitt and Associates’ North Fulton office, which is marketing the homes on the Roswell Woman’s Club tour.

To get the most out of a visit to one of this spring’s events (others include the Atlanta Symphony Associates’ 38th Annual 2008 Decorators’ Show House and Gardens, from April 19-May 11), Franks and show home attendees have five recommendations.

1. Select a style.

Metro home showcases spotlight all types of architecture. Touring them will help you determine what type of architecture and details you will appreciate in your home, from farmhouse to Tudor. “There are a lot of pretty houses out there; it may not fit what you like,” said show home visitor Robert Hunter, who lives in east Cobb County.

2. Find a floor plan.

Think about how the home will work for you. Another visitor, Cindy Latimer, who lives in Roswell, said she likes how the kitchen and other areas in the home built by Rosen Custom Homes were open, allowing ample space for entertaining.

3. Look at the details.

The quality of the granite, ceiling details and other aspects will help you determine if the builder is someone who fits your design ideas, Franks said.

4. Note the specifics.

Paint information, price lists for furniture and accessories and other details are often provided in the rooms. If you have questions, the designers are typically on site, ready to talk about their inspiration.

5. Ask your questions.

Builders often are available - or can be contacted - if you want to ask about their design philosophy, materials used and ways to finish out the home after the tour season ends, Franks said.

$45 million, 90-acre estate features private 18-hole golf course

By JULIE B. HAIRSTON
The Atlanta Journal-Constitution
Published on: 03/19/08

The most expensive real estate listing in Georgia has hit the market. Le Reve, a 90-acre estate on Trammel Road near Cumming, is for sale for a cool $45 million. James Simons, a Realtor with Jenny Pruitt & Associates’s Buckhead office, is handling the sale of Le Reve. He said he will use the brokerage’s affiliation with Christie’s to market the property globally. “We’re going to throw a wide net to see if we can capture someone from around the world,” Simons said.

He also plans to showcase the property locally with a series of events later in the year.Owners Hubert and Norma Humphrey — who are not related to the late vice president — are looking to downsize from the 82-room, 47,000-square-foot home on the property. The couple started building the complex in 2004 after the city of Atlanta denied them a permit to expand their former home on Garman Road. Construction took three years.

Hubert Humphrey is the founder of World Leadership Group, a marketing and mortgage brokerage company.

Designed by Atlanta architect Norman Askins, the four-floor mansion features a 28-foot foyer, two elevators, a 12-car garage, stables, a home theater modeled after the Fabulous Fox in downtown Atlanta, 17 bathrooms, 62 televisions, 300 miles of high-tech wiring and a collection of antiques, furnishings and custom paintings assembled by Norma Humphrey with her three-decorator team. Le Reve’s 18-hole private golf course was added in 2005.

Targeting elite clients

Finding buyers with deep enough pockets to plunk down $19 million for a house requires far more than a For Sale sign and a run of traditional advertising. Establishing a distinctive personality for the house is an essential goal of the ultra-luxury marketing campaign, agents say.

Most multimillion-dollar houses have names as well as addresses. And their marketing always includes an individual Web site like the one now showcasing Le Reve, www.humphreyestate.com. Pictures of the home for the Web site and fat, slick real estate marketing magazines are crucial, which means big bucks for the highest-quality photos.

Barbara Malm, another luxury agent with Jenny Pruitt & Associates, said for the earlier story every part of the marketing campaign has to promote the right mood in the buyer’s mind. “You have to sell the charm, the elegance,” Malm said. “You have to take someone to the place it was created for.” And then you spread the word among the select network.

Finding that right buyer can take a long time. Experts estimate that seven-figure properties require a year or more on the market. And the sale can result from an unexpected encounter. “Sometimes, it’s just sheer luck, ” Malm said. 

Source: Realtor.com

Fitting up the fence sitters.

With the economy weakening, we’re unlikely to see today’s slow home sales pace pick up in the near future, but the picture isn’t uniformly bleak; sales have appeared to stabilize around a 5 million annualized sales pace, suggesting we might be seeing the formation of a bottom.

What’s more, there continues to be considerable pent-up demand for homes. Although job growth is slowing, with the pace of new jobs sinking to about 83,000 a month in the second half of last year, down from 189m000 a month in 2006, job growth has been vastly outperforming housing, with more than 4 million jobs created since the housing market peak in 2005. Aggregate household wealth is also up during that period, by some $1.4 trillion.

Historically, the housing market sees one new buyer for every two new jobs created, but this time around that hasn’t been the case.

So, although consumers have the wherewithal to buy - particularly since home prices nationally are down and interest rates remain low thanks to the Federal Reserve’s dramatic rate cut in January - many are sitting on the fence. It’s a fair guess that consumers are waiting for home prices and even interest rates to fall even further.

Clearly, housing continues to under perform. But as long as demand keeps growing, it’s just a matter of time before the housing market turns around and becomes an engine for, rather than a drag on, the economy.

Jeanne Linden
Senior Vice President, Managing Broker
Cobb office

Source: Forbes.com

Atlanta recently placed number three in Forbes’ list of America’s Fastest-Growing Large and Small Metros

Projected total GMP growth, 2007-2012: 22.81%

The Atlanta metro area is a job magnet that epitomizes the economic boom of the Southeast. Companies with headquarters there include Coca-Cola, CNN and UPS. It’s also got the country’s busiest airport for passenger traffic. Atlanta’s population has doubled in the last 20 years; by 2012. it’s expected to grow another 11%. Personal income for Atlanta residents is forecast to grow by 6.3% annually during that time, according to Global Insight.

By LORI JOHNSTON
For the Journal-Constitution

With doom and gloom stories about home sales dominating the front pages, it’s easy to believe that nobody is buying these days. Turns out, though, that just isn’t so.

But what is selling? “Homes priced correctly” is the answer you’ll typically hear from agents.

We sought to look behind that answer into what specific prices and areas are selling best. Sure, homes in all price ranges are eventually finding buyers, although it may take more work and more time to put up the sold sign for some.

“It’s just sluggish,” said Van Johnson, broker/owner of Re/Max Executives and president of the Georgia Association of Realtors.

There are hot spots, though. And we uncovered them.

FIVE TRENDS REALTORS ARE SEEING

1. Intown is easier.

Properties inside the Perimeter that are updated are more likely to sell than those in the suburbs, said Muchugia Machua, an agent with Harry Norman, Realtors. He represented Laura Mwirigi in her purchase at Windsor Over Peachtree. He says some buyers are also thinking of the future. “I’ve run into a lot of investment properties where there’s multiple offers in town,” he said. “Investors are taking money and putting it in a very safe investment with equity.”

2. Giving options draws traffic.

One tactic Judy Crawford with Dream Street Properties is taking: listing homes for rent, lease purchase or lease option. One of those was a 2006 townhome in Cumming’s Pinnacle Glen subdivision. It sold last month for $168,350.

3. The $100,000s have been a magic number.

Dianne Stump, an agent with Coldwell Banker Residential Brokerage, has seen that, especially with condos. She sold two units in the $190,000s in the active adult Villas at Stone Mountain in the past year. Another condo property, within walking distance of downtown Decatur, sold for $166,000. “We marked it way down, and it flew off the market,” she said. “What I’m seeing is that the younger people are buying. Maybe they’re planning on getting their bonuses and using the money as a down payment because the interest rate is so low right now.”

4. But high-end homes are finding buyers, too.

Even though they represent a small percentage of total home sales, new homes and resales in the $1 million-plus range are moving, Johnson said. But the prices are being negotiated - instead of fetching $1.3 million, a home might sell for $1.1 million. “A lot of people who buy and sell in that price range save their money,” he said, “and then they wait for the appropriate time when their money will buy them more. They live for markets like this. Basically the property is on sale.”

5. The middle market is struggling … but could get better.

Johnson said one problem last year was the maximum amount - $417,000 - that government-sponsored mortgage lenders Freddie Mac and Fannie Mae would back. People were having a “dickens of a time” putting $250,000 down, for example, on a home in the $600,000s-$700,000s. But those programs are increasing their limits under the economic stimulus bill, which Johnson said could help “break that logjam.”

Source: AJC.com  By: Stacy Shelton

Summer’s not sunk after all. The governor wants to give swimmers and backyard gardeners water.

Gov. Sonny Perdue on Wednesday offered a reprieve from the near-total ban on outdoor watering to the landscape industry, gardeners and thousands of neighborhood swimming pool associations, swim teams and private pool owners.

“Swim, kids, swim,” Perdue exhorted at an afternoon news conference in his office.

If local governments agree, pool-filling will be allowed and home and business owners will be able to hand-water landscaping and flower gardens for 25 minutes a day, between midnight and 10 am, on a three-day-week schedule. Watering with sprinklers would still be banned, except for watering newly installed landscapes.

A start date has not been set, and local governments could decide to keep the restrictions in place. They may need to: cities and counties still will have to meet the state-mandated 10  percent reduction in water use, although it will be seasonally adjusted.

Starting April 1, the new baseline will be the average amount of water used from April to September, when usage can be twice as high as in the winter months, mostly due to sprinkling lawns. Read the rest of this entry »

(Source: MSN Real Estate) 

The right phrasing in real-estate listings can speed a sale and even boost the final price, a Canadian study says. And here’s a tip: if you must sell, don’t put “must sell” in your ad.

In real-estate listings, what’s the difference between describing your home as “beautiful” versus “move-in condition”? About $12,500 on a $250,000 home.

Professor Paul Anglin, a real-estate economist in Guelph, Ontario, says that homes described as “beautiful” in real-estate listings sell for 5% more while “move-in condition” has no effect on sale price.

Anglin and his colleagues from the University of Windsor and researchers from Canada Mortgage and Housing examined about 20,000 real-estate listings and sales data in Windsor and Essex counties, Ontario, from between 1997 and early 2000. Among other things, they studied how listings’ phrasing affected sale prices and the length of time it took for the listings to close.

When speed is of the essence

Listings with the words “beautiful” or “gorgeous” sold 15% faster. “Landscaping” in a listing hastened a sale by 20%. Describing a property as in “move-in condition” quickened the sale by 12%. Calling a home a “handyman special” cut sale time by half (researchers excluded listings that used the term to describe a workshop or hobby area).

Other familiar jargon, such as “must see” or “vacant,” or including the information that a seller was moving, had virtually no effect on the time before a sale.

The kiss of death appears to be language that reeks of desperation — words such as “motivated” and “must sell.” These slowed sales by 30%. The term “ranch” house slowed sales by 10%. Properties described as rentals (income-producing) took 60% longer to sell. Read the rest of this entry »

 Source: LuxuryPortfolio.com 

Last year, after a trip through rural Canada, Montana and North Dakota, those grand expanses of wilderness and/or nothingness, I was relieved to get back to Chicago and city life.  But now, after hardly leaving the city (except to travel to other cities) for quite a while, I am eager to escape.  Seeing the movie Into the Wild made me want to shred my credit cards, burn my money, grow a beard* and hike through the wild to live on my own.  Luckily, the end of the movie changed my mind before I took such drastic measures - but I did find a compromise that would allow me to get rid of my money (at least $52.5 million of it)* and immerse myself in nature: buying the Canaan Valley Ranch in Suches, Georgia.  The 185-acre property in the North Georgia Mountains, with its lakes, streams, apple orchards and grazing horses, would certainly quench my thirst for escape.  This soul-satisfying property is listed with Jenny Pruitt and Associates.

Source: GardenFairy.com

If exceptionally cold weather is forecast, provide protection to early flowering or tender plants by covering them with some type of cloth material. Remove the covering as soon as the weather moderates again.

Shrubs and Trees

Deciduous shrubs and tree are sill dormant enough to transplant this month, once the buds have begun to swell, it will be to late. Trees that weren’t fed last fall should be deep fed by punching a series of 1-2 inch holes two feet apart around the drip line and filled with an appropriate food. A mulch of well composted manure is also an excellent treat for your tree.

• Mid to late February is the time to fertilize shrubs and evergreens. Use an acid type rhododendron fertilizer to feed evergreens, conifers, broad leaf evergreens, rhododendrons, azaleas and camellias. Use an all-purpose fertilizer to feed roses and other deciduous trees and shrubs. If you use dry type fertilizers, be sure to water it thoroughly.
• Prune your summer flowering shrubs now but be aware that spring bloomers have already produced their buds last fall, and pruning them now will result in the loss of flowers. Forsythia, quince, spirea and other early spring flowering shrubs should be pruned a little later, after they have finished flowering. Pruning to improve the shape of the plant, as well as to open up the center of the plant to good air circulation and sun exposure. Always start your pruning by removing all dead, decayed or broken branches.
• Trim back any branches that were damaged by the ravages of winter.
• Apply dormant oil fruit spray. Read the rest of this entry »