Foreclosure- Developed building lots in Medlin Place subdivision, Smyrna Ga. There are 2 lots available. Lot 9 also adjoins the home for sale at 3074 Pickens St.  Buy both for an even greater value!

Links See Medlin Place Homes Photo Gallery Description Lot #5 Developed lot in subdivision of elegant craftsman style homes. Located in the heart of Smyrna and just a short walk to the Smyrna Market Village. Features Acreage: .17 Sewerage: Yes Water: Yes Subdivision: Medlin Place School District: Cobb County Agent Name: Bob Southard Broker: Solid Source Realty MLS #: 3822335 Location 3139 Dunton St Smyrna Ga 30080 Powered by vFlyer.com vFlyer Id: 2068656

Links Medlin Place Homes For Sale Photo Gallery Description Developed lot in beautiful neighborhood of luxurious craftsmans style homes. Located in the heart of Smyrna just a short walk to the Market Village. The home next door on lot #10 is also available for an even better value! Features Acreage: .16 Sewerage: Yes Water: Yes Subdivision: Medlin Place School District: Cobb County Agent Name: Bob Southard Broker: Solid Source Realty MLS #: 3822341 Location 3068 Pickens St Smyrna Ga 30080 Powered by vFlyer.com vFlyer Id: 2068671

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Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website 

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

Follow Bob on Twitter , FaceBook, and LinkedIn

Just listed! 3074 Pickens St. Smyrna, Ga.

This is a brand new, never lived in home that is now bank owned. The price before the foreclosure was $505,000 and the home next door sold this year for $507,000. At $419,900 this home is a bargain that won't last long.

The vacant lot next door is also available to make an even greater value!

Links All Smyrna Homes For Sale Medlin Place Homes See The Virtual Tour For This Home Photo Gallery Description Check out the big value and spaciousness of this 5-bedroom/3.5-bath brick home in Medlin Place and only a short walk to the Smyrna Village. Offers a master suite with whirlpool tub for relaxing nights, his-and-her closets for better organization, separate shower, walk-in closet to quickly find your clothes, spacious gathering room with fireplace, elegant dining room with wood floors, butler's pantry. Don’t forget to wave to the neighbors from your rocking chair front porch surrounded by a classic white picket fence. The home next door just sold for over $500k. This bank owned builder foreclosure is bargain that’s just waiting for you to call it home! Features Bedrooms: 5 Bathrooms: 3.5 Parking Spaces: 2 Year Built: 2007 Subdivision: MEDLIN PLACE Lot Size: .16 Garage Size: 2 CAR ATTACHED School District: COBB COUNTY Square Footage: 0 Agent Name: Bob Southard Broker: Solid Source Realty MLS #: 3822354 Location 3074 Pickens St Smyrna GA 30080 Powered by vFlyer.com vFlyer Id: 2068478

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Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website 

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

Follow Bob on Twitter , FaceBook, and LinkedIn

Selling a home in today's market, Part 1

Today's topics are - Is it a good to sell? and Selling by owner or with an agent?

Recently, I had the pleasure of doing an adult ed.  home buyers class for the Marietta Community School.  I have decided to take some of my outline notes and form the into a blog series for home sellers.  

The class was actually a "For Sale by Owner" class.  The content of this series will be more along the lines of selling by owner. However, I think there will be some good marketing ideas here that other agents might want to "borrow".  If you are thinking about listing with an agent, then there will be some good guidelines here to help with your agent interviews.   Most of the marketing information will work anywhere in the country.  This is not my complete marketing program that I would use if I listed a home, but it is a very good plan to use as a guideline.

Also, this is based on my own knowledge and experience in our local market.  All real estate is local, so if you are reading this in another part of the country then some of the ideas, especially in regards to contracts and negotiations, may not apply or at least they may apply differently.

Here are just a few of the topics that I will be covering in this series: Is it a good time to sell?; Is By Owner right for you; pricing strategies; preparing the home for sale; Marketing the home; financing (and using financing to attract buyers); signs,flyers, websites, and 24hr information phone lines; what to do when buyers call; what to do when agents call (and they will, I promise); home inspections, contracts, and closings.

If you are thinking of buying a home then you may also want to read my entire blog series, Buying A Home In Today's Market.

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Selling  a home in today's market, part 1.

Is it a good time to sell?

The best answer that I can give to that question is .... maybe.  A lot of it will depend your circumstances and personality.  It is a great time to buy.  So selling your home, even if it means taking a lower price than you might like, can open the door for you to move to another house that might be a great deal.  You might have to discount the price of your home to get it sold, but you should be able to get a similar or even greater discount on the home you buy.

Admittedly, many people just won't do this.  I can't say that I blame them.  Who wants to sell their home for less than it was worth last year?  Again, keep in mind that you should be able to make up the "loss" in the saving on the home you purchase.  This strategy pretty much will only work if you are moving to a more expensive home, or at least moving laterally price wise.

If you are looking to move to a lower price range then the math would be working against you. It wouldn't be impossible by any means, but you would have some challenges to be sure that it makes real financial sense for you to move.

Should I try "By Owner" or use an agent?

I am not one of those agents who thinks for sale by owner just won't work. I firmly believe that you can sell your home yourself if you are properly prepared and have the right mindset and attitude. You know your home better than anybody.  You know the neighbors, schools, shopping, and all of the other things that you have liked about living there.

Here are some things to consider

Time - It takes a lot of time to properly market and sell a home.  This is in addition to just packing and keeping the home clean and ready to show.

Marketing Costs- All ads, flyers, signs, info boxes, websites, etc. will be paid for out of your pocket. 

Statistics - I have heard several different figures regarding how many "For Sale by Owners" actually sell their own home.  The highest figure that I have ever heard is 20%.  If that is true then there is a 1 in 5 chance of selling your home yourself.  The other statistic is from the National Association of Realtors, that is that the average FSBO ends up selling for 16% less than the comparable homes listed by an agent.  They don't say why this is true, but I believe that the biggest factor is impatience.  Sellers just want to get it sold and are over anxious to make a deal.  

Exposure limitations- About 84% of  buyers use the internet 1st. That is before they ever call an agent or owner about a house.  The probelm is that the internet is not one place but millions of different places called websites.  Go ahead and do a search for homes for sale in your area.  Almost all of the top sites that come up will be agent web sites, real estate company websites, or conglomerator sites like Homegain,com, Homes.com, and Realtor.com that get their information from mls listings or agent information feeds. 

My original intent when I created this class was to solve as many of these problems as possible for by owner sellers. The main thing is to know what the challenges are so that you can address them.  

Shameless Plug :-) : As an internet savvy agent I bear the risks for the time and marketing and I will get your home listed on almost every one of those top rated websites.

Whether you use an agent or sell your home yourself, knowledge is power. Over the next several installments I will be sharing a lot of information with you that will give you the knowledge to get your home sold.  Next installment - Pricing strategies and preparing yor home for sale.  

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Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website 

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

Follow Bob on Twitter , FaceBook, and LinkedIn

Here is the most recently available market information from Realist for Paulding County Georgia home and condo sales.

The September to September home sales figures are about as expected. There about a 30% drop in sales volume and a 10% drop in the average sales price.   A lot of the price drop may be attributed to the exteme decrease in more expensive new home sales. 

The good news is that there are homes still selling at all. While 186 home sales is not as great as in the past, it does show that there are still buyers in the market place.  Nice homes that are priced effectively still have a good chance of selling.

If you would more specific market information by school district, subdivision, zip code, etc.  please free to contact me.

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Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website 

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

Follow Bob on Twitter , FaceBook, and LinkedIn

See the Space Shuttle and the Space Station from earth - Every night this week!

    ONLY DAYS WITH SIGHTING OPPORTUNITIES ARE LISTED

THE FOLLOWING SHUTTLE SIGHTINGS ARE POSSIBLE FROM MON NOV 17 TO FRI DEC 05

ONLY DAYS WITH SIGHTING OPPORTUNITIES ARE LISTEDThis data last updated on 17 Nov 2008 22:35:08 GMT

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Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website www.AgentBobSells.com

Search Powder Springs Homes For Sale

Search All Metro Atlanta MLS Home Listings

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

Follow Bob on Twitter , FaceBook, and LinkedIn

Here is the most recently available market information from Realist for Cobb County Georgia home and condo sales.

The September to September home sales figures are somewhat encouraging with only about a 1.5 -  2% drop in both volume and price. We'll see if this trend will continue through the winter.

Condo/townhome sales are still horrific but this is fairly typical in a slow market. Attached homes are usually the first to show a decline and then the last to recover.

If you would more specific market information by school district, subdivision, zip code, etc.  please free to contact me.

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Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website www.AgentBobSells.com

Search Powder Springs Homes For Sale

Search All Metro Atlanta MLS Home Listings

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

Follow Bob on Twitter , FaceBook, and LinkedIn

I am the richest man that I know ....

There will be alot more on this later but I just had to get a few things off my fingertips and on to the blogospere.

Photo from www.Flickr.com  creative commons posted by s_herman
"It's A Wonderful Life" (1946)

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Saturday nite my beautiful wife and many, many firends and family did a suprise 50th birthday party for me.  I will post a lot more about it later, we have videos and a ton of photos.  BTW - I'm not 50 ... yet!   Did I mention that ?

To say that I was overwhelmed just simply does not describe it.  I made the comment Saturday nite that I felt like George Bailey at the end of  "It's a Wonderful Life"  


"A toast...to my big brother, George. The richest man in town."  From George's brother Harry

"Dear George, Remember no man is a failure who has friends. Thanks for the wings! Love Clarence." From Clarence the Angel


Yes, the real estate business has been a little stressfull lately. Saturday I was reminded of  how truly blessed I am.  

Thank You and God Bless You All!

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Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website www.AgentBobSells.com

Search Powder Springs Homes For Sale

Search All Metro Atlanta MLS Home Listings

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

Part 7 - The closing   .... and beyond

Recently, I had the pleasure of doing an adult ed.  home buyers class for the Marietta Community School.  I have decided to take some of my outline notes and form the into a blog series for home buyers.  

The content is geared a little more toward first time buyers but will still be very relevant for move up buyers as well.  Also, this is based on my own knowledge and experience in our local market.  All real estate is local, so if you are reading this in another part of the country then some of the ideas may not apply or at least they may apply differently.

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The closing ... and beyond

You are almost a homeowner! At this point you have been out looking at what seems like 1000s of houses, had lenders look at every aspect of your life (hopefully you still have the rights to your first born child LOL), survived home inspections, appraisals, packing your previous home, stressful negotiations, and much more. 

Today is the day that you show up for the big event know as a closing. Whats going to happen and what the heck is going on?

• In Georgia all closings are handled by attorneys.  That attorney represents the lender if you are obtaining a mortgage. Regardless of who picked the attorney they will represent the lender.  If you are paying cash the Georgia contract allows you to specify as a part of the offer who the closing attorney will represent. You are always welcome to have your own attorney review the documents prior to closing. If you are obtaining a standard type mortgage and there is nothing unusual about the purchase then most of the documents will be fairly "boilerplate". Very few people seem to opt to have the docs reviewed by their own counsel. Your agent will almost certainly be there as well and they will be glad to answer some of the questions that you may have, but remember they are not an attorney and don t offer legal advice.  The closing attorney will also be willing to answer questions if you have them.

           The attorneys assumption will be that if you show up that you are ready to sign.  Do not expect to be able to thoroughly read every document! The                    attorney will give you a very brief description of each document.

• About the documents - Trees are going to die! You will never see such a large stack of papers. What the heck do they all say? Well a few of them will simply be to convey ownership from the seller to you.  There will be documents saying that the home is collateral for the loan and a promissory note saying how much the payments are and when they are due. A whole bunch of the other documents will be from the lender and will be required to obtain the mortgage.  I'm not trying to belittle the process or importance of these documents but basically here is what they say. - If you don't pay you don't stay!  
• Home owners insurance.  In most cases the fists years homeowners insurance will be paid at closing and the attorney will send the check to your insurance agent.  Hint: Use your home purchase as an opportunity to shop around for insurance. If this is your first home you will be happy to learn that most insurance companies will you give you a discount for having your cars and home both insured with them.  Shop around for the best policy.  The cost of the homeowners policy will be listed as a prepaid item on your closing statement.  If you negotiated for the seller to pay closing costs this could be covered as a part of that. 
• The numbers.  There are a few forms that you will see that are all about the numbers.  The primary one will be the HUD1 or closing statement.  This will itemize the price, down payment, every closing cost and fee, and the exact amount due to or from both the buyer and seller.

After the closing - Congratulations you are now officially a home owner!  Along with home ownership comes many rights and responsibilities.  If you haven't read part 1 of this series yet then go back and read that one.  There are many benefits to home ownership other than the idea that it may go up in value.

• If the market shifts and you see a short term drop in value (like today's market) your next payment is still due the 1st of next month
• If the water breaks call a plumber and expect to pay the bill.  Your next payment is still due the 1st of next month.
• If the house burns down (hopefully you wont be home) call your insurance agent.  They should be able to provide temporary living quarters for you. Your next house payment is still due the 1st of next month.
• Lost your job?  Your next payment is still due the 1st of next month.

You get the idea.  The bank wants the money that you agreed to pay.  If you don t pay, you don't stay.

Get to know the folks at Home Depot!  You will be making many trips there :-).  Seriously, don't be afraid to try a few repairs on your own.  For me, every new "HoneyDo" project is an excuse to buy new power tools!

I want to conclude by going back to a point that I mentioned a moment ago. I mentioned in Part 1 that there are many reasons to own a home.  This is your own space, you own it! There has never been a 10 year period that homes values have declined.  I don't believe that right now is any different.  In case you haven't heard, real estate is on sale now!  If you are ready to enjoy the long term benefits (and you do need to look at the long term) then now is a great time to buy.

I have had clients that have called me that weren't ready to buy and then called me back 1 or 2 years later!  No pressure or hype from me. I expect your business the old fashioned way ... I earn it.  So whether you are thinking of buying this weekend or the next couple of years or you just don't know ... give me a call.  I'm always glad to help!

Read Part 1, Here - Is it a good time to buy and should I buy?

Read Part 2, Here -  Should you buy a home if you currently have a home to sell?

Read part 3, Here  - Getting Credit Ready/ How much house can I afford?

Read Part 4 , Here - Searching for a home and using a buyers agent

Read Part 5, Here - Making the offer

Read Part 6, Here - Appraisal, Inspection, and Due Diligence

Read Part 7, Here - To the closing and beyond

Stay tuned for the next series! For sale by Owner / Selling a home in today's market 

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Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website www.AgentBobSells.com

Search Powder Springs Homes For Sale

Search All Metro Atlanta MLS Home Listings

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

Follow Bob on Twitter , FaceBook, and LinkedIn

How about a Dog Park in Powder Springs, Ga?
 
I  have  heard several people around around Powder Springs mention that they would like us to have a dog park here in the area. This would be a great place to spend some quality outdorr time with our pets. Mayor Vaughn has mentioned that it is being discussed but the location and funding are questionable.  One possibility might be the  at the linear park that the city has proposed along the Silver Comet Trail.

If you live someplace that has a dog park please tell me about it.  How big is it? How was it funded? Who maintains and cleans it?  Anything you can share that would be helpful would be appreciated.

If you live in or around Powder Springs Ga. please share your ides as well.  I'll pass all the information along.

Just to share ... here are pics of our dogs -  Scooby and Miley

"Scooby"

"Scooby trying to be tha "Alpha" pet?

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Recently, I had the pleasure of doing an adult ed.  home buyers class for the Marietta Community School.  I have decided to take some of my outline notes and form the into a blog series for home buyers.  

The content is geared a little more toward first time buyers but will still be very relevant for move up buyers as well.  Also, this is based on my own knowledge and experience in our local market.  All real estate is local, so if you are reading this in another part of the country then some of the ideas may not apply or at least they may apply differently.

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Appraisals, Inspections and Due Diligence

In part 5 we discussed the "Due Diligence", inspection, and appraisal as part of the contract.  Today we will discuss what is actually entailed in those items.

Appraisal
    The appraisal is an opinion of the value of the home and it can only be performed by a licensed appraiser.  If you are obtaining a mortgage then the bank will require that an appraisal be done in order to insure that the home is worth enough to secure the mortgage.  The appraisal will be ordered by your mortgage lender. Very often they will ask the buyer to pay for the appraisal in advance.  This is a closing cost, so if the seller has agreed to pay closing then you could be reimbursed for the expense at closing.  The average cost for the appraisal is $3-400.  
  
    The appraisal is not a home inspection!  The appraiser will look at the home much like you did when you were previewing it.  They will make sure that the home is intact and in a condition that is livable, but that is all.  They do not inspect the furnace, roof, attic, electrical or do any of the detailed physical and mechanical inspections that a home inspector will do.

    If  your contract to purchase the home does not include a separate appraisal contingency then you may be at risk if the appraisal comes in lower than your purchase price.  As long as the appraisal is done within the due diligence period then you could cancel the contract without any risk, but if the appraisal is done after the due diligence period you would be obligated to purchase the home for more than the appraisal value. Further down I will discuss your options and risks to cancel a contract.

Home inspection

    The home inspector does a thorough inspection of the condition of the home.  There are no licensing requirements for home inspectors in Georgia so literally anybody could be a home inspector.  To insure that you get a good quality home inspection I recommend that you find an inspector that is certified through ASHI, The American Society of Home Inspectors. That way you know the the inspector is properly trained and the inspection will meet certain standards.  

   
    If the home inspection is done within the due diligence period you can ask for repairs or an adjustment to the contract to compensate for the repairs.  Yo would also have the option to walk away from the home and have your earnest money returned.  However, you would still be out the money for the cost of the home inspection. Usually any inspection issues can be worked out but it can be stressful for both the buyer and the seller.

    Very important! You should almost always do a home inspection, even if you are buying a brand new home.  I have had new home inspections turn up improperly installed windows, improper drainage issues, and damaged roof trusses!  These were all fairly serious issues that the builder could correct.  However, if we didn't know to ask they would have posed problems in the future or turned up on the home inspection when my buyers went to sell.  Then they would have been responsible for dealing with the issues!

Do your own "Due Diligence"

    As a buyers agent I don't sell you a home.  I will advise and try to help you make the best decision possible, but ultimately the decision is yours.  Research the schools, check for child molesters, look at the commute and traffic patterns, or do any other research you may think is needed before you buy the home. All of this can be done during the allowable due diligence period after your offer is accepted.  However, you should do as much research as possible before you even start your home search.  



Canceling the contract -

    If for some reason or another you decide not to purchase the home you could cancel the contract and get your earnest money back IF it is allowed under the terms of the contract.  If you have a due diligence period and you are still inside that due diligence period you pretty much can cancel for any reason.  The other common reasons that would be allowable to cancel are if you have a separate contingency to sell your current home, appraisal contingency, or financing contingency. There are hundreds of other possible contingencies that could be included but these are probably the most common. As long as you have a contingency to protect you, it is possible to cancel the contract and get your earnest back.  You would still be responsible for the cost of any inspections or appraisals that you may have ordered.

    What if you walk away from the purchase and are not protected by a contract contingency?  At that point if you decided to cancel the contract you would almost definitely lose your earnest money and could even be sued for not performing on the contract. I have never seen anybody get sued for non performance on a residential contract but I would absolutely advise you that from a contractual standpoint it is a real possibility.  This is why it is so important to have a buyers agent on your side.  Remember, the agent with the sign in the yard represents the seller. They want the shortest possible inspection periods and the fewest possible contingencies.  That is what is in the best interest of the seller.

Next time- Closing and beyond

Read Part 1, Here - Is it a good time to buy and should I buy?

Read Part 2, Here -  Should you buy a home if you currently have a home to sell?

Read part 3, Here  - Getting Credit Ready/ How much house can I afford?

Read Part 4 , Here - Searching for a home and using a buyers agent

Read Part 5, Here - Making the offer

Read Part 6, Here - Appraisal, Inspection, and Due Diligence

Read Part 7, Here - To the closing and beyond

********************************

Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website www.AgentBobSells.com

Search Powder Springs Homes For Sale

Search All Metro Atlanta MLS Home Listings

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

Follow Bob on Twitter , FaceBook, and LinkedIn

Recently, I had the pleasure of doing an adult ed.  home buyers class for the Marietta Community School.  I have decided to take some of my outline notes and form the into a blog series for home buyers.  

The content is geared a little more toward first time buyers but will still be very relevant for move up buyers as well.  Also, this is based on my own knowledge and experience in our local market.  All real estate is local, so if you are reading this in another part of the country then some of the ideas may not apply or at least they may apply differently.

**************************************************************

Making the offer:

There are some basic things that will be in every offer

• Price - This is the price that you are offering to pay for the home. 
• Legal description and address of the property
• Closing date - Typically closings are at the end of the month but it is not required.  Usually its about 30 - 45 days from the contract date.
• Closing Costs paid by seller.  If you are asking the seller to assist with the loan closing costs this will be included on the offer.  This usually will range from 0-3% of the loan amount.
• Due diligence (inspection) or "as-is".  The Ga contract allows a due diligence period which can be used for home inspection, appraisal, termite inspection, or any other research that the buyer chooses.  During the due diligence period the buyer has an option to move forward or cancel the contract for any reason.  A longer due diligence period is more beneficial to the buyer but usually less agreeable for the seller.  Somewhere in the range of 5-15 days seems to be most common, but it is totally negotiable.

How much less will they take? How much should I offer?

           There is no hard and fast rule on this.  Every home, every buyer, and every offer have different circumstances.  I have had many buyers that I advised to offer less, sometimes waaaay less than the asking price.  I also had a client last year that made an offer on a bank owned home.  It turned out there were multiple offers on the home and we had to decide if we wanted to stick with our original offer or go up on the price.  We decided to offer $2500 more than the list price! The offer was accepted, but why would we do that?  It was simple.  The buyers and myself both thought the home was a fantastic deal.  It turned out the we were correct and the appraisal came in about $60,000 higher than our offer!  The buyers were totally ecstatic to get that much equity for only an extra $2500 so this strategy really made sense.

            In todays market I am seeing more bank owned homes being priced lower to sell fast.  In this case there may not be as much room to negotiate.  Just make an offer buy the house because its a good deal.  However, like I said above, every offer is different.

Additionally, there are a few items that I attach to just about every offer.

• Financing contingency.  This allows the contract to be canceled by the buyer if the financing falls through.  I usually try to make the contingency period for the entire time frame of the contact.  So if we are asking to close in 30 days then the financing contingency we would ask for is 30 days.  Sometimes the seller will agree and sometimes they won't. It is all negotiable.
• Appraisal contingency.  This specifies that the home must appraise for a set amount.  If the appraisal comes in lower then the seller can reduce the price to the appraisal amount, order a second appraisal at their own expense, or cancel the contract.  

There are a few other things that usually will be included and attached to your offer.

• A copy of your earnest money check.  This shows that you are serious about your offer.  If  the offer is not accepted or you later cancel the contract under terms that are allowable, then your earnest money will be refunded to you.  
• A copy of your mortgage pre approval or proof of available cash funds.
• The sellers property disclosure signed by you.

Everything is negotiable:

• Just because something is standard or common does not mean that it is the only way to structure an offer.  You can literally ask for anything.  Remember that just because you ask does not mean you will receive!  In the past I have seen cars, boats ,lawnmowers, or furniture included as parts of the sale.  Call me an I'll tell about the houseboat I got with a home!  
• Some common things that may be fairly typical would be a home warranty or the refrigerator.

Making the offer can be both exciting and stressful.  Remember that the offer is a contract. I think the most important thing is to take your time and be sure that you understand the terms and consequences of that contract.  This is a huge decision and taking a few minutes to understand will without a doubt will be in your own best interest.

Next time: What happens during the appraisal and due diligence inspection period?

Read Part 1, Here - Is it a good time to buy and should I buy?

Read Part 2, Here -  Should you buy a home if you currently have a home to sell?

Read part 3, Here  - Getting Credit Ready/ How much house can I afford?

Read Part 4 , Here - Searching for a home and using a buyers agent

Read Part 5, Here - Making the offer

Read Part 6, Here - Appraisal, Inspection, and Due Diligence

Read Part 7, Here - To the closing and beyond

********************************

Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website www.AgentBobSells.com

Search Powder Springs Homes For Sale

Search All Metro Atlanta MLS Home Listings

Call me for all of your Real Estate needs

770-656-9134

Copyright © 2008 By Bob Southard, All Rights Reserved

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What If Your Guy Loses?
********************

I just received this email from John Gay over at CountryWide. It does give us a lot to think about.


Two days from now we will wake up to a newly elected president.  (barring any "hanging chads" or similar "to close to call" scenarios)  As we have done for over 200 years years the United States will have a peaceful transfer of power in which every citizen was allowed, but not required, to participate.  


Wednesday morning we will all wake up doing what we do now...  Promote our  business, search for buyers, search for sellers, create new relationships, etc.  Regardless of who wins our life goes on.  No matter who wins, there will continue to be changes and challenges in our industry.  Regardless of who wins we all must take personal responsibility for our business, family, and future.

****

What If Your Guy Loses?

By John Miller:

Note: Please join John Miller and Dave Ramsey on Thursday, November 6th on The Dave Ramsey Showon FOX Business Network (TV) as they explore "Personal Accountability and the QBQ!"

Well, every four years in America we vote for the POTUS (President of the United States), and every four years on the day after there is weeping and gnashing of teeth by the losing side. And the truth is, the losing side is just about as large as the winning side. Amazingly, there could be 60 million people who vote for the ticket that does not win on November 4th, 2008. That's a ton of people who'll have a choice to make.

The choice to whine, complain, bemoan, and blame—or simply bring personal accountability to their daily walk by asking The Question Behind the Question(QBQ), "What can I do today to move on?" "How can I be my best on the job?" and "What can I do to serve people?" These questions enable those whose candidate remains a U.S. Senator, to avoid the humanness of finger-pointing, victim thinking, and discouragement.

And for the slightly larger winning side, where does personal accountability come into play? Will this group think that now all is right with the world? It's so easy to give a U.S. President too much power—in our minds—over our lives. It always makes me laugh when, with our massive, ever-changing, and complex economy, we think it's all about the man in the Oval Office. The truth is, economies go up and they go down—and then they go up again. By their very nature they are cyclical. When they're strong, the President gets too much applause, and when they slump he's buried in way too much blame. And so, in that vein, for the winning voters on Wednesday morning November 5, how dangerous these thoughts would be: "Yes! My guy won! Now I'll have a better job and more income and good finances and perfect health and a happier life and ... !"

Really? Does the POTUS have that much power, influence, and control? Would we, in a democracy, want him to? Can he give and take away joy? Will he help me get my personal finances in order? Will his tenure improve my relationships or keep me in shape? Do I really need my guy to be in the Oval Office for me to excel at my work, love and provide for my family, and contribute to the lives of others?

My wife, Karen, gave me a t-shirt that reads: It's All About Me! I don't think it was a positive statement the day she handed it to me, but in reality, aren't my successes and set backs all about me? Isn't it about me taking ownership for my personal growth; me contributing; me setting and reaching goals?

Me loving life? Me loving my country?

Yes, regardless of who's in the Oval Office and what political party is in charge of Congress, it's really all about personal responsibility—individuals making good choices each day, and being accountable for those choices.

And for all of you who vote for the guy who doesn't make it, I say TAKE HEART! There'll be another election in 2012 and another round of advertising and debates. And that campaign will begin in January ... 2009.

Meanwhile, I recommend using what we call the Ultimate QBQ! - "What can I do right now to let goof what I can't control?" Remember, no matter who is elected as the next POTUS, for each American there is no debate: The answers are still in the questions, and personal accountability is still the secret to our success. 

******

Bob Southard, e-ProRealtor®, Solid Source Realty, Inc. Buy or sell a home in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website www.AgentBobSells.com

Search Powder Springs Homes For Sale

Search All Metro Atlanta MLS Home Listings

Copyright © 2008 By Bob Southard, All Rights Reserved

An American Creed

I Do Not Choose to Be a Common Man

*******************************
I found this posted on Dave Ramsey website today and dug around and found an audio link to him discussing this quote as well.  

In my opinion this quote embodies an American Spirit that is somewhat lacking in todays culture.  I hope that all of you enjoy this as much as I did.

******

An American Creed

I Do Not Choose to Be a Common Man

It is my right to be uncommon—if I can.

I seek opportunity—not security. I do not wish to be a kept citizen, humbled and dulled by having the state look after me.

I want to take the calculated risk; to dream and to build, to fail and to succeed.

I refuse to barter incentive for a dole. I prefer the challenges of life to the guaranteed existence; the thrill of fulfillment to the stale calm of utopia.

I will not trade freedom for beneficence nor my dignity for a handout. I will never cower before any master nor bend to any threat.

It is my heritage to stand erect, proud and unafraid; to think and act for myself, enjoy the benefit of my creations and to face the world boldly and say, “This I have done.”

By Dean Alfange

______________

*Originally published in This Week Magazine.
Later printed in The Reader’s Digest, October 1952 and January 1954.

The Honorable Dean Alfange was an American statesman born December 2, 1899, in Constantinople (now Istanbul). He was raised in upstate New York. He served in the U.S. Army during World War I and attended Hamilton College, graduating in the class of 1922.



Click to listen to Dave Ramsey speaking and reading \”The American Creed\” by Dean Alfange



If you like Dave Ramsey please visit the Dave Ramsey Fans group on Active Rain

******

Bob Southard, e-ProRealtor®, Solid Source Realty, Inc. Buy or sell a home in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

Visit my website www.AgentBobSells.com

Search Powder Springs Homes For Sale

Search All Metro Atlanta MLS Home Listings

Copyright © 2008 By Bob Southard, All Rights Reserved