Atlanta Housing Source

Specialty rooms and spaces are becoming more and more popular. If you have an extra room or unused corner in your home, think about turning it into one of the following areas. Here are some ideas for planning that special space:

* Media Area: Enjoy audio, video, and other media and store the equipment.
* Wine Cellar: A cool, dark place is best for wine storage.
* Library: Set up elaborate or simple shelving, a comfortable chair, and a reading lamp.
* Sewing Room: Arrange a work table, ironing board, shelves, and storage.
* Meditation Room: Retreat from noise and other distractions.
* Hobby Room: Plan plenty of work space for crafts, scrapbooking, painting, and the like.
* Mini-Gym: Make working out fun with a stationary bike, weights, treadmill, and a TV!
* Playroom: Set aside space for children or grandchildren to play and store toys.
* Extra Closets: Make a great place to store out-of-season clothes.

With a little imagination and planning, you can use every corner, area, or room of your home efficiently. Feel free to call or email me if I can help you, a friend, or a family member with any of your real estate needs.

For many people looking to buy a home, the financial part of the process is intimidating and confusing. Naturally, you’ve been reading up on home loans. There’s a lot of information to take in, but here are a few fundamental concepts to keep in mind when preparing your finances for buying a home:

Keep your finances stable

When looking for a home it’s smart to avoid making any major moves that alter your finances, such as buying a car or changing jobs. Banks appreciate a sense of stability in would-be homeowners.

Pay off debt

The amount of debt you have now affects your ability to take on additional debt of a home loan. Know your current debt level and work to lower it as much as possible between now and when you purchase a home.

Assess your credit score

For credit cards and other debt, be sure to make your payments on time to get good credit. Payment history is the most important factor in your credit score, accounting for about 35% of the total. Check with major credit bureaus to verify your score and fix any errors.

Know the loan types

The basic mortgage types are fixed-rate, adjustable-rate and hybrid. However, there are many types of loans available that suit a variety of financial situations. Ask about loan options that are right for you.

Get pre-approved

After you’re pre-approved for a home loan, you can narrow your search and target homes you can truly afford. Many home sellers select pre-approved buyers over those who are not pre-approved because they may feel more confident that the purchase will go through.

Your financial picture is a crucial part of the home purchase process. If you’d like to know more about home loans, please call or email any time.

At the end of the month, there were 5,529 single family residences actively for sale on the FMLS.   In the prior 30 days 391 homes had sold for an average sales price of $230,305.  The average sales price represents selling at 93.7% of the average listing price.  The average days the homes were on the market before they sold were 91 days.

Brought to you by Mark Lackey, Assoc Broker, EcoBroker with Atlanta Housing Source at Solid Source Realty – 404.886.8789 – mark@AtlantaHousingSource.com

At the end of the month, there were 5,942 single family residences actively for sale on the FMLS. In the prior 30 days 426 homes had sold for an average sales price of $161,157. The average sales price represents selling at 96.84% of the average listing price. The average days the homes were on the market before they sold were 85 days.

Brought to you by Mark Lackey, Assoc Broker, EcoBroker with Atlanta Housing Source at Solid Source Realty – 404.886.8789 – mark@AtlantaHousingSource.com

This article written by Jennifer Karel, Sr. Managing Attorney with Morris|Hardwick|Schneider is a great reminder of why buyers should purchase an Enhanced Title Policy when they purchase their home.

How pound wise may be penny foolish!

The current economy has everyone looking for ways to cut cost.  This means that your buyers may be looking for ways to save money at closing.  One of the few “optional” items on the settlement statement is the owner’s title insurance premium.

Most buyers understand that title insurance protects them from a loss caused by a title defect.  Buyers may not always realize the shortcomings of the title examination.  Title exams are performed by human beings who are capable of error.  The title exam is a review of documents filed and indexed by human beings, also capable of inaccuracy.

Even in the absence of a mistake, a title examination cannot insure that title is clear as of the time of closing.  It is a look back in time of 4 – 6 weeks, depending upon the county involved.  The time period between the effective date of the records and the time that it is examined is called “the gap.”

No one knows what may come up in that period of time.  The following are some examples: (1) equity lines taken out by the seller who needs cash, (2) materialman liens for recent work for which the payment was not made, (3) a lien resulting from a lawsuit by credit card companies or other companies for unpaid debts, (4) federal tax liens, (5) Georgia Department of Revenue liens, (6) lis pendens filed by disgruntled spouses/ex-spouses.

Buyers are cost sensitive but that has to be balanced against the risks of loss.  Owner’s title insurance is always important.  In a time when sellers are under financial stress, it is absolutely vital.  Make sure your buyers protect themselves.

Mark Lackey with Atlanta Housing Source at Solid Source Realty, Inc. explains about closing costs and prepaids. A lot of buyers don’t know what closing costs are or how much they can be. So in this short video, he shares everything you need to know.

If you are interested in a free buyers guide or searching for your dream home – visit our website at http://www.AtlantaHousingSource.com.

Mark Lackey with Atlanta Housing Source shares more about the home buying process. In this video, he discusses how long it takes to purchase a home.

Mark Lackey with Atlanta Housing Source shares insight on how you can narrow down your home search.  With thousands of homes to choose from, this advice will help you determine how to select the best property for you.

To search for homes, visit – www.AtlantaHousingSource.com. You can search for free and even get the newest listings that match your criteria via e-mail.

We are experiencing the more hot weather. Summer is almost finished, but the heat has not and this is the time of the year your air conditioning is going full blast.  Well, what a disappointment some of us have when we turn the switch to a/c and nothing happens.

My wife Anne Lackey manages 240 rental homes and this is the time of year that the office phone rings on Friday afternoon when the tenant got home from work to find the air not cooling.

Usually they mention that they noticed it wasn’t cooling well a few days earlier but chose not to call.  Now they are hot and can’t understand why someone cant get there immediately to fix the problem. They tell her its 80 or 85 degrees and they can’t stand it.

It makes me think back to time before air conditioning.  We traveled on vacation to the beach at night because the car didn’t have air conditioning.  We left at 2 or 3 am. Dad drove all night so we wouldn’t overheat.

In elementary and high school there was no air conditioning.  During the break between classes we would run cool water from the bathroom faucet on our lower arms and splash water on our face and neck.

At our home we ran window fans, or in home like the one I have now that was built in the mid 80s, there was an attic fan.  We would open windows top and bottom on opposite sides of the house to let the breeze blow in and cool us.

Now I hear that they can’t stand the heat.  They can’t wait for the air to get fixed.  Well, fortunately we know a great guy that owns a great heating and air company and I am glad to recommend them.

If need to have your system serviced so it will work, or if your heat or air stops working I suggest you call Andy at Seasons Comfort at 770-616-2494.  They do great work at reasonable prices, and tell him Mark sent you.

Mark Lackey with Atlanta Housing Source @ Solid Source Realty, Inc. shares with you some information about how to determine how much home you can afford.