Yeah, the kids in photo are cute, but I doubt they understand real estate law… and negotiations… fuggedaboutit!

The single inducement for selling your Forsyth County, GA home yourself is responsible for most FSBOs (“For Sale by Owner” offerings). It’s some bottom line arithmetic that seems at least worth considering—the attractive notion of avoiding paying commission dollars to a real estate brokerage. Real estate commissions in Georgia are negotiated—usually 5%-6%. For a home that closes at $300,000, the idea is for a thrifty FSBO seller to pocket $15,000 to 18,000.

Actually, no—at least for most sellers.

Since 87% of buyers choose to hire a licensed Forsyth County, GA Realtor^® to represent their interests, that agent can be expected to require FSBO owners to agree to compensate them for their services. Since that one agent can wind up doing the work normally handled by two, that commission could be at least the customary split of 50%—in which case the FSBO owner actually “saves” only $7,500-$9,000.

Even so, there remains a hefty sum. So why do FSBOs account for only 7% of home sales? That top-heavy result is easier to understand when you consider the recent finding that “nine out of ten FSBOs end up hiring an agent themselves.” That’s pretty close to the latest National Association of Realtors^® finding that 91% of all sellers were assisted by a real estate agent.

The bottom line reason is the bottom line itself: in 2017, even for the small number of FSBOs that did sell, the typical FSBO home closed for $200,000—contrasted with the $265,500 for agent-assisted homes. Many of those hoped-for “savings” of $7,500-$9,000 would have been costly indeed!

If you plan on selling your own Forsyth County GA home any time soon, before you decide on your best course of action, I hope you will give me an opportunity to put together a marketing plan. It will detail the latest comparable research pointing to how we might expect your property to perform. Of course, there’ll be no obligation!

 

 

This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.

I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.

Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate

Buying a home in Cumming, GA– especially if it’s your first – can seem like it’s just a magnified version of any other major purchase. You’re the buyer—which makes you the boss. It can be as straightforward as that—but there are also several parts of the process where it’s all too easy for Cumming, GA buyer mistakes to cost not just time and frustration, but real money, too. Here are some common home-buying missteps:

1. Looking for a home before speaking about a mortgage:  Many first-time buyers make the mistake of viewing homes before making contact with a mortgage lender. This puts you behind the ball if a home you love hits the market, or if you wind up spending time and energy looking at homes that you can’t afford.

2. Talking to only one lender: This one is a biggie! Buyers who get a mortgage from the first (and only) lender or bank they talk to are potentially leaving thousands of dollars on the table. The more shopping you do, the better basis for comparison you’ll have for ensuring you’ve landed the best deal.

3. Being careless with credit: In the months leading up to a mortgage application, don’t open new credit cards, close existing accounts, take out new loans, or make large purchases on existing credit accounts. Maintain that practice through closing day.

4. Assuming you need 20% down payment: Delaying your home purchase while you save up for a 20% down payment can take years. That’s tying up cash at a time when you might be putting it to better use: maximizing your retirement savings, building an emergency fund, or paying down higher-interest debt. Today it might be possible to arrange a conventional mortgage for as little as 3% down. Even though that would require mortgage insurance, given today’s bargain mortgage interest rates, the result can make for a sensible bargain.

Check out these 9 Steps to Buying a Home

 

Thinking of Buying a new home in Cumming, GA??  No need for stress. I’m here to help make your real estate transaction close smoothly.  CALL ME and let’s walk through the steps together. I have great resources to help you get started!

 

NEED TO GET PREQUALIFIED?  Click here to reach my preferred lender.

 

 

This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.

I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.

Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate

Real estate market changes can be sudden or slow. No matter how the broader market shifts nationally or locally here in Cumming, GA, certain types of properties or price ranges can still result in a multiple offer scenario.

Buyers: Never fear! If you fall in love with one of these highly desired homes, there are strategies that will help your offer stand out that DON’T involve simply offering more money.

Go beyond the pre-approval letter:  The more prepared you are, the better.  To get ahead, be the buyer who’s further along in the loan process BEFORE you make an offer.  This means preparing all the documents your lender needs when it’s time to approve the mortgage: tax returns, W2s, pay stubs, bank statements, etc.   Some lenders can actually run you through their “underwriting process” and provide you with a mortgage commitment letter.  This is GOLD to a seller!

Find a “7 day” mortgage broker: Did you know there even was such a thing? Time is always “of the essence” in a hot real estate market, so working with a full-time real estate agent and a mortgage professional who is available on weekends can help when a quick turnaround is critical. That way, if you put an offer on a house on a Saturday or Sunday, you can have a quick turn-around on a  contract specific commitment letter from the lender (ask me why you need this later!) and your buyer’s agent can assure the sellers that you’ll be able to close quickly and on time if they choose your offer!

Write a love letter:  This is getting a bit more dicey with the new Fair Housing laws, but a personal letter can actually work! Such a letter might include a brief intro to you and your family (and don’t shy away from including a fun fact or two to make it personal). It would go over the unique details you like about the house, the neighborhood, and the future you envision there.  It never hurts to end with a note of appreciation of how well the sellers have taken care of the property.

Be flexible with the seller:  It’s not always about the money.  Timeliness matters.  Closing dates matter.  Maybe the seller needs to be out of the home quickly, so a brief inspection period could be decisive. Alternately, perhaps the sellers value more time to identify their replacement property and to move their household—so maybe a 60-day or 90-day close would be most attractive.  Your agent should be speaking to their agent prior to writing your offer to find out which terms, other than price, matter most to the owner—I always look for that kind of background data.

Being in a multiple-offer situation needn’t end in tears—the right agent guiding the process can make all the difference.  Call me anytime to discuss your search!

 

 

This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.

I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.

Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate

Long before well-prepared Cumming, GA homeowners arrive at the signing table, they will have been made aware of the factors mortgage lenders pay attention to—foremost among which is their bill-paying history. For years, they will have avoided making late payments—or underpayments. They will have corrected erroneous negatives on their credit reports and straightened out any historical inaccuracies.

If they have read up on how home loans are originated, they will know that a second weighty factor is “amounts owed”—but that’s a term that can be easily misunderstood. It turns out to include more than the term implies.

You’d think that “amounts owed” would be a simple dollar amount. If John and Jenny Smith have credit card debt totaling $8,000 and a car loan with a remaining balance of $12,000, any Cumming, GA home loan application would trigger a credit report detailing that $20,000 owed. If their incomes made that an easily sustainable debt load, John and Jenny would probably assume that their “amount owed” wouldn’t be a problem. That could well be the case—but what the lenders are more interested in is not the $20K.

Instead, they see a percentage.

To the mortgage decision-makers, “amount owed” also includes a debt-to-credit ratio. If the sum of the credit limits on all of their credit lines totals $60,000, that ratio would be a comfortable 1:3—that is, two-thirds of the amount they could have borrowed remains untapped. But if their credit limits total something closer to the amount they actually owe, it makes adding to that debt a riskier proposition. In the most extreme case—if they had borrowed almost all of their credit cards’ limits—it would understandably create a question mark in the lenders’ minds. It would mean that high-interest rates would be attached to any home loan offers (if any offers were forthcoming).

The implications for Cumming, GA real estate borrowing is straightforward. 1) Accept credit limit raises when offered—even if you have no intention of tapping them; and 2) Keep credit accounts active by using them from time to time—but keep the balances owed modest. Observing those two simple rules will make for a debt-to-credit ratio lenders love.

Here are 2 other articles that might be of interest:

Cutting Through the Confusion in Mortgage Credit Scoring

When Does Paying Off a Credit Card NOT Help Your Credit?

 

Early preparation for future home ownership is certain to pay off when that future arrives. Call me whenever a question about Cumming, GA real estate matters arises—I’d love to chat!

 

 

 

This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.

I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.

Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate

That “things break down” is a truism as old as mankind—possibly preceding the invention of language itself. You can picture a furious caveman staring at the shattered remains of the wheel he’d just invented—after the first time it broke. Sooner or later, “things fall apart.”

When area residents mull over their personal living arrangement decisions, one of the logical financial arguments for renting a South Forsyth County home rather than buying is the added cost of maintenance. South Forsyth County renters reason that they don’t have to worry about saving up for a rainy day (as when the garbage disposal clunks out). For renters, it’s someone else’s problem (that is, it’s the landlord’s)—as well as his or her expense. True enough.

But looking at the wider picture and you’ll see that the universal ‘no free lunch’ rule applies. The landlord doesn’t really pay for the new garbage disposal except in the short run. Built into every rental agreement is a monthly charge  that covers the maintenance expense for the home or apartment unit.  It’s already been included, and the tenant is paying it. The average rates that residences experience breakdowns or require normal maintenance are well known—and the monthly pro-rated amounts have been determined and included.

It is true that the inconvenience (and sometimes, shock!) of having to pay for a sudden appliance breakdown is largely avoided by South Forsyth County renters, who may put a great deal of value on that advantage. But South Forsyth County homeowners have more than one way to minimize the financial distress of inevitable breakdowns. They can either put something away in a rainy day account for that purpose only, or they can sign up for any of a number of home service warranty plans.

The decision of whether to rent or buy your South Forsyth County residence is one of the most highly personal choices there is—and one that can change from year to year. The best South Forsyth County real estate decisions are made after taking all the trade-offs into account—which is one way I help my clients.

Call me for a no-obligation conversation about your current situation—and South Forsyth County’s many current alternatives!

 

 

 

This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.

I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.

Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate

Buying a Cumming, GA home takes some degree of organization no matter what. Especially when time is of the essence, it can make or break whether you land a home that’s right—or one you ultimately determine isn’t adequate over the long haul. Whether the time pressure is due to a sudden job transfer, family emergency, or the unexpectedly rapid sale of an existing Cumming, GA  residence (that can happen when I’m your selling agent!). Finding your next home in a hurry calls for no-nonsense organization.

The precise path to your house-hunting success is bound to include some unexpected elements, but having a step-by-step plan in mind will provide a useful template:

1. Get pre-approved. This comes first, rather than determining how much you can (or want to) afford because it will reveal the lending world’s opinion, which—if you are other than an all-cash buyer—will preclude wasting time chasing just-out-of-reach properties.

2. Set your budget. This may not be all you can borrow: it should be what you can comfortably afford.

3. Hunt online. This is where today’s shoppers can cut to the chase way more efficiently than previous generations.

4. Find a real estate agent who is highly experienced in the Cumming, GA market (highly recommended: me!).

5. Tour a variety of candidate properties. Your agent will manage this process to save time. Don’t be afraid to visit open houses if they pop up (but be sure to tell the showing agent you are represented).

6. Revisit the finalist properties. Experience dictates that first impressions are not

7. Discuss the terms of an offer; have your agent prepare and submit.

Once sale terms have been negotiated, your agent will keep the ensuing provisions on track and on schedule (including the professional inspection, which is always a prudent step no matter how pressing the timetable). At some point in the process, it’s likely you will revise what you thought you wanted: selecting the home that “feels right” can’t be done without walking through the non-virtual space—and that more than once.

Whether or not time is a key issue, I hope you’ll remember to include me when you are interviewing for your Cumming, Ga agent. I’ll return your call promptly!

This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.

I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.

Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate

Every now and then we have to shake our heads at how much the electronic transformation has changed daily living in Cumming, GA.  Electronics have invaded practically everything—from home wifi to ultra hi-def TV to cell phones that double as search engines.

As you read this, you’re only a couple of clicks away from being able to summon up all the current Cumming, GA homes for sale that fit your chosen criteria. Want to check out 3-bedroom single family residences currently listed for $400,000 or less? Click click: here they are—complete with pictures (and perhaps a video tour). It’s a revolution that’s still ongoing, too—one bound to produce surprises we haven’t even imagined.

Yet, despite the sweeping changes in Cumming, GA real estate marketing, there is one old standby whose power and utility hasn’t changed one whit. It is master of the real (nonvirtual) realm.

The two words in point are “For Sale”—specifically when they appear on one of my eye-catching front yard signs. Their power is undeniable; proven time and time again. As soon as a ‘for sale’ sign appears in a front yard, the secret is out! Everybody in the neighborhood quickly notes the nearby property that’s suddenly available. If family or friends have been thinking of moving closer, it’s a possible solution. If a neighbor has been looking for more room (or thinking of downsizing), likewise. Prospects who have been eyeing the area will write down my phone number and give me a call. Even casual passersby who hadn’t been entertaining the idea of buying a home may suddenly find themselves mulling the possibility: “I hadn’t been thinking of a change, but I saw your sign over on _______, and we were wondering how much they’re asking…”

The truth is, the good old-fashioned ‘For Sale’ sign still packs a wallop—possibly because it sticks out so startlingly on an otherwise unchanging residential street. It’s an unexpected direct communication. And whether or not prospective buyers have even been thinking of themselves in that category, everyone gets the message: what if that place could be mine?

If you will be listing your own home anytime soon, I hope you’ll call!

 

 

 

This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.

I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.

Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate

Did you know that many buyers ask the seller for an estimate of utility costs for a home they are considering buying?  What do your rates say about your home?

Right about this time during most years, if yours is a typical Forsyth County home with typical cooling capacity, its energy consumption will rise (just as it does in the chilliest depths of winter). It isn’t at the top of most homeowners’ summer to-do list, but now is an ideal time to take a hard look at how to reduce your Forsyth County home’s energy consumption.

According to the people who study these things, now is actually an ideal time to assess how your home’s energy use can be improved. That’s because—according to the U.S. Department of Energy—three-quarters of all U.S. homes have air-conditioning. The Consumer Energy Alliance says that cooling demands account for “approximately $29 billion annually to individuals and families.” If you’re used to an abrupt rise in your own Forsyth County energy bills right about now, your family’s budget confirms the claim.

Professional energy audits take between a half an hour and four hours—and are almost always worth the cost. But short of that, there are many budget-saving actions you can take yourself, right now. Here are some of them:

• Clean or change your filters

• Raise the thermostat (rule of thumb is that a 7-10 degree change can save 10% every year)

• Upgrade to LED bulbs

• Clear space around air vents

• If the attic is suitable for frying eggs, see about getting better insulation or (better still) an attic fan

• Check your water heater temperature. Recommended: 120F.

That third bullet-point is a beauty. LED bulbs don’t just use 75% less energy—they also emit less heat (a summertime add-on). Yes, they seem to cost a lot more— but not when you consider that they last 25 times longer!

Before thermometers soar any higher and your Forsyth County energy bills soar with them, taking a few of these actions can pay off noticeably. Another plus: if and when it’s time to move on, your lowered energy bills will paint an attractive picture when potential buyers ask to see them (they probably will). Another good idea for when it’s time to list: call me!

This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.

I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.

Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate

USA Today quoted an eye-opening figure. It’s one that probably means that it describes one of the most common of circumstances that might apply to Forsyth County home buyers of any age or income group since the “common circumstance” applies to “89% of repeat homebuyers.” Coming as it does from the National Association of Realtors^®, that gigantic proportion would have to apply to home buyers of all ages and income groups.

The 89% describes those who aren’t only buying a home—they’re also selling one. The statistic only applies to “repeat” homebuyers since, by definition, first-timers couldn’t face the double-whammy. But when nearly 9 out of 10 of the rest of homebuyers qualify, it’s clear why USA Today thought the situation would interest a lot of readers.

The angle of the piece was “how to take the stress out of selling your house and buying another”—a worthy goal. As Forsyth County home buyers know, the predictable stress level can be divvied up into two groups: those who can afford to carry two homes, and the rest of us. If the total available won’t stretch to support the expenses involved in both, the sale and purchase need to be synchronized to enable both transactions. USA Today rates the “extra pressure” resulting from possible timing hiccups that could derail either or both deals as a delicate “balancing act.”

As a Forsyth County real estate agent, I feel that it will be my job to limit the anxiety for all my dual track clients. When you have a firm handle on your financial picture, the object is to minimize costs by constructing contracts with timing points designed to make USA Today’s “balancing act” as easy as 1-2-3.

Experience counts in every aspect of Forsyth County home buying and selling. Call me: I love talking about tactics and lessons learned—and how to approach your own plans!

 

 

 

This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.

I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.

Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate