Forbes Magazine made some good predictions for Atlanta homebuilders and residents last week. While other cities, like Las Vegas and Phoenix are expected to see home prices decrease by up to 50%, Atlanta is predicted to see significant increases as early as 2009. (This reiterates that NOW is the time to buy Atlanta Real Estate. Discounts on current new home inventory are available now. They won’t last forever!)
Although Forbes mentions the number of Atlanta foreclosures in early 2008, our continued steady job growth rate promises an end to our housing slump. In fact, next year home prices are expected to jump up by 32.5% for single family homes around the metro Atlanta area. Multi-family home prices are expected to rise by as much as 18.4% and job growth will remain around the steady 2% yearly increase that has kept Atlanta afloat and the envy of the nation. We are placed at number nine in the group of ten “lucky cities” that are predicted to experience long term recovery that will begin next year. Other cities where home prices are expected to rise include Oklahoma City, Minneapolis, Colorado Springs, Salt Lake City, Austin, Portland, San Antonio, Charlotte, and Albuquerque. So while times may seem tough now, if we can just hold out for a little while longer, things should be looking up for the economy and the Atlanta housing market once again.

Sales of existing homes shot upward in September, as buyers took advantage of price reductions, according to the National Association of REALTORS®.

Sales of existing homes rose 5.5 percent in September to a seasonally adjusted annual rate of 5.18 million units, and up from 4.91 million units in August. September 2008 sales figures are 1.4 percent higher than the 5.11 million units sold in September 2007.

Lawrence Yun, NAR chief economist, said more markets are seeing year-over-year gains. “The sales turnaround which began in California several months ago is broadening now to Colorado, Kansas, Minnesota, Missouri and Rhode Island,” he said.

Also encouraging are the recent declines in inventory. Total housing inventory at the end of September fell 1.6 percent to 4.27 million existing homes available for sale, which represents a 9.9-month supply at the current sales pace. This is a decrease from a 10.6-month supply in August, and marks two consecutive monthly declines since inventories peaked in July of 2008.

HERE IS A GREAT LISTING TRAFFIC BUILDING IDEA FROM AN AGENT IN SAVANNAH, GA....this was sent to the KW S.E. Regional office by the seller of the property...

My agent is Cheryl Prisco in Savannah, Georgia and she has organized a really unique gallery show to show case my house. She came up with a name for the show "Six Degrees of Separation" and designed the mailing flyers specifically for the intended recipients. (see attached) Over 17 artists are showing for a one night show, Oct 17, 6-9pm, at my house. Cheryl has really gone above and beyond all expectations in terms of marketing and design and I would like to let Keller William's know what a great representative she is and a fantastic realtor in general. She should be commended on her creative spirit and endless attention to details.

Keller Williams Luxury Division

Keller Williams has one of the best, if not the best in my opinion, luxury home divisions in North America.

Keller Williams Luxury Home department has partnered with the well-regarded Luxury Homes Institutute.

Keller Williams Agents who qualify to become members of the Luxury Homes Division will have additional training and networking opportunities, access to KWLuxuryHomes.com and preferred rates with partners such as the duPont Registry.

Buyers of luxury homes typically look for certain features in a home. Here are a few of the top trends and/or expectations of some luxury home buyers:

TOP FEATURES IN LUXURY HOMES:

* A gourmet kitchen is standard, but true luxury homes include a private Butler's kitchen for caterers.

* A built-in high-end coffee maker with cup warming drawer is often requested.

* The all-important Media room has become a standard in most luxury homes.

* Smart features like a disappearing glass panel system that leads to outdoor entertaining areas have become increasingly popular.

* Outdoor kitchens with stainless appliances

* Zero-edge pools also known as Infinity Edge Pools

* Remote-access security systems

If you are looking to sell or buy a luxury home, give one of our luxury home experts a call today!

Keller Williams Launches a Commercial Division

Commercial Division Comes to Keller Williams Realty!

We are pleased to announce that 2008 will mark the launch of the Keller Williams Realty Commercial Division!

Our goal is to make Keller Williams the commercial real estate platform of choice by providing our commercial associates the technology, marketing tools, and resources to succeed in their commercial businesses. We want to create synergy and referrals between the residential and commercial sides of Keller Williams Realty, increasing the income and production potential of all our agents. And we look forward to adding to our associates' profit sharing through increased profitability of our Market Centers.

We are also honored to announce that Buddy Norman, a true leader in commercial real estate, has joined the Keller Williams family to spearhead this new venture.

Buddy has more than 15 years of experience in the commercial real estate industry - including leadership within international commercial firms, such as Cushman & Wakefield and The Staubach Company. He has built new divisions and trained commercial brokers all over the U.S. - including Dallas, Atlanta, Washington D.C. and San Diego. A consistent top producer, Buddy has averaged more than 400,000 square feet per year of commercial leasing and sales transactions over the last 10 years.

Buddy will serve as the President of Keller Williams' Commercial Division, and will be working closely with a Commercial Advisory Council (CAC) of top commercial brokers within our company that will guide the launch and implementation of this new division.

Our plan is to launch Keller Williams Commercial this fall. And as an agent-centric company, we want to ensure that we build this division for our agents and by our agents. We ask that you take a few moments to fill out the short survey below. If you are a commercial agent or have interest in commercial real estate, please share your input on how we can build this new venture to be a true win-win for our offices and our associates:

We know that with the leadership of Buddy, our Commercial Advisory Council, and your input, we can truly build a Commercial Division that will create the commercial real estate platform of choice! If you have any questions or would like to find out more about the KW Commercial Division, please contact us at sderuiter@kw.com.

Home Staging

Close the Museum and Patch the Cracks!

Do you ever wonder why some homes sell faster than others? The old saying used to be, "Location, Location, Location." Well in today's market, Location isn't always enough. Staging has become an essential part of the selling process. Staging has become the subject of many popular TV shows on HGTV. I have to admit, it's one of my guilty pleasures.

The sellers on HGTV’s “Secrets That Sell” rarely have a clue about why their house hasn’t sold. To the rescue of these desperate sellers comes the mother-daughter team of Donna and Shannon Freeman.

In a recent episode, the Barbozas are told to “close up the museum”—to get rid of the painting of the family patriarch over the fireplace and hang a flat-screen TV in the space instead. They also are instructed to pack up their collections, including the cute chickens and roosters in the kitchen. Fortunately, they aren’t the family pets, simply a decorating theme that had overtaken the cooking area.

In addition to getting rid of their bold colors and figurines, the Barbozas are told that they need to patch the cracks in the ceilings. And with the addition of the flat-screen TV over the living room mantel, they solve the problem of the dated television set nesting in the built-in living room cabinet (so ’80s). This move also frees up space for storage.

One tip I had never heard of before was to make sure each bathroom has a full roll of toilet paper. This is a subtle and inexpensive detail when adding finishing touches.

As with so many reality shows, the pregnant pauses here that precede the “reality” moment with the sellers are just irritating. But a larger question in my mind remains: How active were the prior agents these people hired to sell their house? It’s also possible the owners had been trying to sell the property without representation. Except for being told the number of days the property had been on the market, we never quite know as viewers what transpired before Donna and Shannon were invited over for a friendly chat.

Besides giving the owners specific advice, Donna and Shannon seem to be delivering an unspoken but useful message to our industry: A service-oriented practitioner has a clear understanding of the inventory at that moment, grasps the nature of the buyer pool for that product, and works with sellers to show them what it will take to get the property ready for market on time and on budget. This same practitioner will also have the confidence to decline an opportunity that would otherwise only lead to frustration and unmet expectations for all involved. Now, that’s the reality that leads to successful sales.

Part of this article was contributed by Marilyn Schumacher, e-PRO, SRE, Harbor Bay Realty, Alameda, Calif.

8 Steps to Selling a Home

Are you thinking of selling your home? Call any of our talented realtors today for a free market analysis to find out the value of your home.
Here is a checklist of some of the things that happen in the selling process:

1. Define your needs.

Write down all the reasons for selling your home. Ask yourself, “Why do I want to sell and what do I expect to accomplish with the sale?” For example, a growing family may prompt your need for a larger home, or a job opportunity in another city may necessitate a move. For your goals, write down if you’d like to sell your house within a certain time frame or make a particular profit margin.

Work with your real estate agent to map out the best path to achieve your objectives and set a realistic time frame for the sale.


2. Name your price.

Your next objective should be to determine the best possible selling price for your house. Setting a fair asking price from the outset will generate the most activity from other real estate agents and buyers. You will need to take into account the condition of your home, what comparable homes in your neighborhood are selling for, and state of the overall market in your area. It’s often difficult to remain unbiased when putting a price on your home, so your real estate agent’s expertise is invaluable at this step. Your agent will know what comparable homes are selling for in your neighborhood and the average time those homes are sitting on the market. If you want a truly objective opinion about the price of your home, you could have an appraisal done. This typically costs a few hundred dollars.

Remember: You’re always better off setting a fair market value price than setting your price too high. Studies show that homes priced higher than 3 percent of their market value take longer to sell. If your home sits on the market for too long, potential buyers may think there is something wrong with the property. Often, when this happens, the seller has to drop the price below market value to compete with newer, reasonably priced listings.


3. Prepare your home.

Most of us don’t keep our homes in “showroom” condition. We tend to overlook piles of boxes in the garage, broken porch lights, and doors or windows that stick. It’s time to break out of that owner’s mindset and get your house in tiptop shape. The condition of your home will affect how quickly it sells and the price the buyer is willing to offer.

First impressions are the most important. Your real estate agent can help you take a fresh look at your home and suggest ways to stage it and make it more appealing to buyers.

A home with too much “personality” is harder to sell. Removing family photos, mementos and personalized décor will help buyers visualize the home as theirs.

Make minor repairs and replacements. Small defects, such as a leaky faucet, a torn screen or a worn doormat, can ruin the buyer’s first impression.

Clutter is a big no-no when showing your home to potential buyers. Make sure you have removed all knickknacks from your shelves and cleared all your bathroom and kitchen counters to make every area seem as spacious as possible.


4. Get the word out.

Now that you’re ready to sell, your real estate agent will set up a marketing strategy specifically for your home. There are many ways to get the word out, including:

The Internet
Yard signs
Open houses
Media advertising
Agent-to-agent referrals
Direct mail marketing campaigns

In addition to listing your home on the MLS, your agent will use a combination of these tactics to bring the most qualified buyers to your home. Your agent should structure the marketing plan so that the first three to six weeks are the busiest.


5. Receive an offer.

When you receive a written offer from a potential buyer, your real estate agent will first find out whether or not the individual is prequalified or preapproved to buy your home. If so, then you and your agent will review the proposed contract, taking care to understand what is required of both parties to execute the transaction. The contract, though not limited to this list, should include the following:

Legal description of the property
Offer price
Down payment
Financing arrangements
List of fees and who will pay them
Deposit amount
Inspection rights and possible repair allowances
Method of conveying the title and who will handle the closing
Appliances and furnishings that will stay with the home
Settlement date
Contingencies

At this point, you have three options: accept the contract as is, accept it with changes (a counteroffer), or reject it. Remember: Once both parties have signed a written offer, the document becomes legally binding. If you have any questions or concerns, be certain to address them with your real estate agent right away.


6. Negotiate to sell.

Most offers to purchase your home will require some negotiating to come to a win-win agreement. Your real estate agent is well versed on the intricacies of the contracts used in your area and will protect your best interest throughout the bargaining. Your agent also knows what each contract clause means, what you will net from the sale and what areas are easiest to negotiate. Some negotiable items:

Price
Financing
Closing costs
Repairs
Appliances and fixtures
Landscaping
Painting
Move-in date

Once both parties have agreed on the terms of the sale, your agent will prepare a contract.


7. Prepare to close.

Once you accept an offer to sell your house, you will need to make a list of all the things you and your buyer must do before closing. The property may need to be formally appraised, surveyed, inspected or repaired. Your real estate agent can spearhead the effort and serve as your advocate when dealing with the buyer’s agent and service providers. Depending on the written contract, you may pay for all, some or none of these items. If each procedure returns acceptable results as defined by the contract, then the sale may continue. If there are problems with the home, the terms set forth in the contract will dictate your next step. You or the buyer may decide to walk away, open a new round of negotiations or proceed to closing.

Important reminder: A few days before the closing, you will want to contact the entity that is closing the transaction and make sure the necessary documents will be ready to sign on the appropriate date. Also, begin to make arrangements for your upcoming move if you have not done so.


8. Close the deal.

“Closing” refers to the meeting where ownership of the property is legally transferred to the buyer. Your agent will be present during the closing to guide you through the process and make sure everything goes as planned. By being present during the closing, he or she can mediate any last-minute issues that may arise. In some states, an attorney is required and you may wish to have one present.

After the closing, you should make a “to do” list for turning the property over to the new owners. Here is a checklist to get you started.

Cancel electricity, gas, lawn care, cable and other routine services.
If the new owner is retaining any of the services, change the name on the account.
Gather owner’s manuals and warranties for all conveying appliances.