Sally English Atlanta Real Estate: Georgia: Atlanta

English Team clients have been loading their shopping carts this week with deeply discounted houses from the national bargain basement sale.  Foreclosures, estate sales and fire sales have been on the "buy" list for buyers represented by The English Team this week.

Bargain Basement Sale: Are you grabbing items from the sale rack at a deep discount?

If you have ever shopped bargain basement sales at Fellinis, Macys or Richs, you know the excitement of finding a bargain priced sales item in a pile of junk on the sale table.  I have been busy this week writing offers for buyer clients who have found houses they want to buy among the hundreds of foreclosed and REO homes on the market in Atlanta.  Some of these offers will work out, and some will not.  Banks are still not seeing the wisdom in unloading this troublesome inventory.  They continue to sit on houses that depreciate every day as they sit vacant and un wanted in the neighborhood.

Savvy buyers are making bargain basement priced offers on the homes and some of them will walk away with the steal of a lifetime.  Others will walk away empty handed.  It is a property by property decsion for the banks and they have no consistent method in their madness.

Are you thinking about buying bank owned property?  You need to get your finances in order (pre approval letters from reputable lenders are a must) and get in the game. Cash offers are golden if you are looking for somewhere to put the CD money earning about one percent interest. 

Call Sally English and The English Team at 770-939-3174 to find out more about buying foreclosed properties.

We have some terrific houses open Sunday afternoon July 25th between 3:00 and 5:00 pm.  Stop in a take a look at some great options for close in Atlanta living.  Each of these homes is convenient to Emory and CDC.  Both are inside the perimeter and in the Lakeside High School DIstrict.  Both houses in 30345 zip code.

Northlake Sunday Open Houses for July 25th

Newer Style and Finish

2622 Glenrose Hill

$ 289,900

¨ 3 BRs 2.5Baths.

New carpet on 2nd floor.

¨ Hardwood floors on first floor

¨ Kitchen remodel: granite countertops.  /  ¨ Premium Maytag appliances.  /  ¨ Formal LR, DR Plus large family room.

¨ Henderson Mill ES, Lakeside HS

Renovated Kitchen and Masetr Bedroom/Bath

3321 Bolero Drive

NEW PRICE:

$ 349,975

¨ 5 BRs, 3 full baths, 2 powder baths.

¨ Master bedroom suite on main floor

¨ European Wet Room: shower / spa tub  /  ¨ Renovated Kitchen: solid surface tops.

¨ 2 studies/home offices. Fenced Bk Yd  / ¨ Henderson Mill ES, Lakeside HS

Go HERE for driving maps

Call Sally English and The English Team at Remax Executives for more information on these homes  770-939-3174.  Go to the English Team website to search all Atlanta Georgia Homes. 

What are the "Dog Days" of summer? 

"The hottest, most sultry days of summer. In the northern hemisphere, they usually fall between early July and early September. Dog Days can also define a time period or event that is very hot or stagnant, or marked by dull lack of progress. The name comes from the ancient belief that Sirius, also called the Dog Star, was somehow responsible for the hot weather." Wikipedia

I am starting to feel the real estate market has hit it's own dog days.  Stagnant, dull and lack of progress pretty well define what's happening right now for most of the Atlanta market.  We are getting some good showings from motivated, pre-qualified buyers who have to move because of a job relocation etc.  But most of the buyers are staying home and move up buyers have pretty much shut it down for the summer.

Investors are starting to kick tires as the values are amazing.  I faithfully read John Adams column in the AJC and he is spot on in his analysis of the Atlanta market.  We are at rock bottom and prices will not go much, if any, lower. 

So buyers, get out there and buy the real estate deal of a lifetime.  I promise you will find motivated sellers.  They would start drooling and barking if they could get some interest from a buyer in the dog days of summer.  Buyers will get some amazing deals.

These stats just in from REMAX International for June 2010

Number of Transactions

Current Month: 5,651

One month change: -.39%

One year change: -8.25%

Active Inventory

Current Month: 53,694

One month change: 0.93%

One year change: -13.45%

Month's Supply of Inventory

Current Month: 10.2

Days on Market

Current Month: 89

One month change: 0.0%

One year change: -7.29%

Median Price - Sold

Current Month: $140,000

One month change: -2.1%

One year change: -3.45%

Fannie Mae says it will start penalizing "strategic defaulters" who walk away from Fannie Mae insured loans.  Strategic defaulters are borrowers who walk away from mortgages they can afford to pay. 

"Starting in October, Fannie Mae says, strategic defaulters will be disqualified for new Fannie Mae-
backed loans for seven years after their foreclosures. Fannie also says it will go to court
where it can to recoup outstanding mortgage debt from borrowers who strategically default.

Under a bill that's passed the House and awaits Senate action, the Federal Housing Administration
would be barred from insuring mortgages for those who previously ditched a mortgage they had the
ability to pay.  Get-tough policies are forming at the same time that about a quarter of mortgage borrowers owe more than their homes are worth.  Fannie Mae buys about 40% of all mortgages and packages them for resale to investors. The FHA insures about 30% of home mortgages."  USA Today

Apparently Fannie Mae will look to see if defaulters still have access to credit and are current on other debts.  I do not see how this will work as a practical matter.  But then again, the yearly IRS return is so complicated and non intuitive, we may all be in for a bunch of bureaucratic paperwork and reporting that will make this one more obstacle for home ownership.

This bill has passed the US House but has not passed the Senate so hopefully there will be significant changes to the bill including an incentive for Short Sales that actually works.  We need to clear the inventory of bad loans but we also need to use some common sense in our public policy.

Atlanta Braves Baseball is my go to activity for breaking up summer boredom. 

I have been a long time Atlanta Braves fan and find myself following them every summer.  We are fortunate and receive most Atlanta Braves games on TV.  And I make the occasional trip to the "Ted" to stay in touch with the energy of a real live baseball game.

There is something about watching the Atlanta Braves on TV that mesmerizes viewers.  Many of my home bound "senior" clients are religious about watching Braves games on TV.  If I miss part of a game I can phone up my father-in law, J.L. English, and he can give me a pitch by pitch recount of anything I missed.  Mr. English is 91 years young and his entire social calendar revolves around the Braves TV schedule.

For many years I mailed an Atlanta Braves Magnetic game calender to homes in my market area.  I had to discontinue that marketing a few years ago when the mailing cost jumped up top 50 cents per household.  But, I still get calls from families/fans who miss getting the magnet.

I'm looking at another Sunday afternoon when the Braves game will be a highlight activity for the weekend.  Just go two words for you: Go Braves!

Much Larger Than It Looks Renovated Ranch.  Finished Terrace Level. 

MUCH larger than it looks! * 

2607 Lake Flair Circle, Atlanta Georgia 30345

$ 250,000

¨ 4 BRs. 3 Full BATHS. FULL BASEMENT

¨ Flair Forest Subdivision.  Atlanta Georgia 30345

¨ FULL BASEMENT: finished with a rec room, BR and bath.

¨ Windows replaced: low maintenance vinyl, energy efficient, .32 U factor, .28 solar coefficient.

¨ BREAKFAST ROOM adjacent to kitchen has French doors that open to deck.  Chandelier.  Large pantry closet.  Double window.  Light and bright room!

¨ UPDATED SYSTEMS: Roof, HVAC and water heater replaced in last 8 years.  NEW PAINT.  NEW CARPET.

¨ AMAZING WRAP AROUND DECK.  Composite flooring is easy on the feet...even in harsh sun conditions.

¨ ENTRY FOYER has a leaded glass front door and sidelites.  Ceramic tile floor and coat closet.

¨ FAMILY ROOM surprises with a floor to ceiling exposed brick fireplace.  Flanking windows.  Carpet.  Door to bedroom hall, cased openings to kitchen/ front hall, ceiling fan/light.  Recessed lighting.

¨ FORMAL LIVING ROOM and DINING ROOM feature refinished hardwood floors, ceiling fan and light, chandelier.

¨ KITCHEN features oak cabinets, white laminate countertop with white ceramic tile backsplash.  Double stainless steel sink with window above.  Recessed lighting plus fluorescent lighting.  Vinyl floor. Open to breakfast room.

¨ PREMIUM APPLIANCES: GE Profile range with smooth top burners and black glass finish.  GE Spacemaker microwave oven/Ventahood combination (black glass).  Kitchenaide dishwasher in black glass. 

¨ MASTER BEDROOM SUITE has double French doors open to wrap around deck.  Carpet.  2 large walk in closets.

¨ MASTER BATHROOM has a ceramic tile floor.  White vanity cabinet with ceramic vanity sink.  Walk-in shower with glass doors and ceramic tile walls.

¨ BEDROOMS # 2 and 3 are spacious.  Double closets.  Carpet.  Double windows.

¨ HALL BATH has a double vanity cabinet and sinks in DRY area.  Oval vanity mirrors. Vinyl floor.  WET area has a tub/shower combination with ceramic tile walls.

¨ LAUNDRY CLOSET has storage cabinets and shelves.

¨ TERRACE LEVEL: 1BRs,1 full baths, Rec Room.

¨ REC ROOM has  wood paneling, carpet, door to side yard.

¨ BEDROOM # 4 has sheetrock walls, carpet, windows.

¨ FULL BATH # 3 with tub/shower combination, vanity cabinet and sink.

¨ Partially FENCED BACK YARD has grassed lawn area.  

¨ Easy commute to Emory/CDC.

¨ Hawthorne ES

¨ Henderson Middle

¨ Lakeside HS: National School of Excellence

"How's the real estate market doing?" is a question I am frequently asked.  I wish I could tell the hopeful questioner "The Atlanta real estate market is hot!"  Well the weather is hot but the Atlanta real estate market...not so much.

Yes, we are selling listings and assisting buyers with the purchase of homes.  We just are not seeing the volume we would have anticipated for this stage of a "recovery".  Buyers are sitting on the sidelines for the most part.  We prod them along...interest rates are at an all time low and sellers are dealing...but the buyers just mosey along.

Most potential buyers are still anxious about employment.  When school systems, large corporate employers like Bellsouth and small businesses start laying off workers, it has a ripple effect on the psychology of potential home buyers.  Home buyers are greatly concerned about potentially losing their job and simultaneously being stuck with a home mortgage they can;t pay and a home they can't sell.

So, we soldier on and work with what we've got.  Our home listings are getting showings.  Most home listings are getting showings and the lucky home sellers are getting offers.  Just not enough of any of the above to make a home seller happy (nor their listing agent).

Are you looking for real estate advice?  Call Sally English and the English Team at 770-939-3174 for expert advice and a seasoned perspective.  Selling homes in the Atlanta market since 1982.

Architectural Wow Factor: 2452 Kings Court Atlanta Georgia 30345

¨ 5 BRs. 3.5 BATHS.  Kings Court Subdivision.  Atlanta Georgia 30345

¨ Vaulted, soaring ceilings throughout home.  Unique architecture with carefully considered floor plan.  Great flow for entertaining. Hardwood floors 1st & 2nd floors. Newer low pile carpet on terrace level.

¨ TWO STORY ENTRY FOYER with ceramic tile floor, chandelier, staircase up and POWDER BATH.

¨ VAULTED GREAT ROOM features double fireplace (white marble surround), soaring ceiling open to second floor "cat walk".  Massive and unique two story bookcase (glass display shelves and mirrored backing).  Hardwood floors.  Built in buffet / bar with decorative columns, cabinet and mirror.  Open to dining room.  Two sets of double French doors to sun room.  Exposed staircase to second floor.

¨ VAULTED SUN ROOM overlooks wooded and natural back yard.  Three walls of glass. Fireplace.  Ceramic tile floor. Tray ceiling. 

¨ SPACIOUS FORMAL DINING ROOM  features a dramatic tray ceiling with unique chandelier.  Recessed lighting. Double French doors to deck.  Mirrored wall. Hardwood floors.  Great setting for dinner parties and holiday celebrations with friends or family.

¨ OVERSIZE KITCHEN features granite countertops and white cabinets.  Glass display doors on cabinets plus room to display collections above cabinets.  Island work station.  Built in desk and "command center".  Pantry.  Double bowl undercounter sink with gooseneck faucet and window above sink.  Ceiling fan and light.  Modern faux granite floor.  Open to spacious breakfast room.

¨ PREMIUM APPLIANCES: Frigidaire Gallery Convection Series double oven (great for parties).  Kenmore dishwasher with hidden controls.  Frigidaire smooth  glass ceramic cooktop.   Frigidaire microwave and Ventahood combination above cooktop. 

¨  

¨ BREAKFAST ROOM adjacent to kitchen has a bay window, chandelier, door to garage and faux granite floor.  LAUNDRY CLOSET with double doors, storage cabinets and utility sink opens to breakfast room.

¨ MASTER BEDROOM SUITE on main floor has double entry doors, hardwood floors, recessed lights, triple window with art glass radius above.  Romantic corner fireplace. Ceiling fan/light, recessed lighting. 

¨ MASTER BATH features a spa tub with Jacuzzi style jets and large ceramic tile surround.  Walk-in shower with glass door, three shower heads and ceramic tile walls.  Double vanity cabinet with ceramic tile countertop and two ceramic sinks,  Beveled vanity mirror plus mirrored wall. Toilet closet is plumbed for a bidet. Large walk-in closet with folding mirrored doors.

¨ 2nd FLOOR:  bonus room, 2 BRs, 1 full bath.

¨ LARGE BONUS ROOM at top of stairs. Overlooks great room. Vaulted ceiling. Hardwood floors, ceiling fan/light plus directional lighting.  "Opera Balcony" overlooks great room.  Diva alert!

¨ UP HALL BATH has a ceramic tile floor, Jacuzzi style tub/shower combo with art glass window above.  Corner vanity cabinet.

¨ BRs #2 & 3 have hardwood floors, ceiling fans with lights, great closet space.

¨ TERRACE LEVEL: perfect for in-law/teen suite. Rec room, 2 BRs, 1 full bath. Patio.

¨ REC ROOM / MUSIC STUDIO has a low pile carpet, mirrored wall, bookshelves.

¨ BRs #4 & 5: private rooms with carpet, windows, open closets.

¨ Terrace BATH has a tub/shower combo, ceramic tile floor, pedestal sink.

¨ Henderson Mill ES just  a short walk away.

¨ Henderson Middle School nearby on Henderson Mill Rd.

¨ Lakeside HS a national school of excellence.

Call Sally English and The English Team at REMAX Executives to see this home and others in the neighborhood.

770 939 3174

Detailed ino, 25 photos, diriving map, school info and mortgage info: CLICK HERE

3 BRs. 2 Full BATHS.  Immaculately maintained brick ranch in Brockett Heights Subdivision.  Tucker Georgia 30084.  Priced at $189,900.

 ¨¨ ENTRY FOYER has hardwood floors.  Cased opening to living room.  Coat closet.

¨ FORMAL LIVING ROOM features hardwood floors, 2 single windows, cased openings to foyer and DR.

¨ FORMAL DINING ROOM features hardwood floors, chandelier, case opening to LR . 

¨ KITCHEN features stained custom cabinets with white laminate countertop and backsplash. White vinyl tile floor.  Stainless steel double sink with garbage disposal and window above sink.  Ceiling fan and light.

¨ APPLIANCES: GE oven (black glass finish), GE Cooktop and Ventahood.  GE Dishwasher (black glass finish).

¨ BREAKFAST ROOM adjacent to kitchen has double windows overlooking back yard.  Half paneling on wall with wallpaper above chair rail. Chandelier.  Door to carport.  Door to Laundry.

¨ Spacious LAUNDRY ROOM features shelving, vinyl floor, door to back yard, washer and dryer connection.

¨ FAMILY ROOM is open to kitchen.  Carpet.  Brick fireplace exposed brick from floor to ceiling.  Brick hearth.  Glass fireplace doors.  Ceiling fan.  Glass doors to screen porch.  Door to back hall.

¨ MASTER BEDROOM SUITE has hardwood floors, ceiling fan and light, two windows, double door closet. Mirrors on closet doors.

¨ MASTER BATHROOM features ceramic tile floor, tub/shower combination with updated wall tile, white vanity cabinet with cultured marble countertop and vanity sink.

¨ BEDROOM # 2 has a  double window, hardwood floors, double door closet,  ceiling fan and light.

¨ BEDROOM # 3 has hardwood floors, ceiling fan and light, double closets with mirrored doors.

¨ HALL BATH has a vanity cabinet with white cultured marble countertop and vanity sink.  Tub/shower combination.  White ceramic tile wall and floor tile.

¨ SCREEN PORCH is a cool and relaxing place to enjoy an outdoor meal or morning cup of coffee.  

¨ Covered parking for two cars in carport. FENCED BACK YARD with large grassed lawn area.  Trees at rear provide additional privacy.

¨ Shopping, restaurants and services nearby at Northlake Mall and Tucker. Easy commute to Emory/CDC.

¨ Brockett ES. Tucker Middle. Tucker HS

 Sally English and The English Team at RE/MAX Executives specialize in neighborhoods convenient to Emory and the CDC.

Call Sally at 770-939-3174 to see this home or others in the neighborhood.

Tucker is a great place to live.