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Short Sale Webinar Friday August 12th 11:30-12:30

 

Join Sellect Realty for an information session about short sales followed by Q&A.    We will discuss the beginning steps of short sales and how to evaluate if they are the proper path to choose for homeowners. Afterwards we will have time to answer questions.   Space is limited, so email chris@sellectrealty.com for your personal invitation.      

New Resource for Finding Housing in College Towns

PRESS RELEASE

Find COOL Housing Around Campus

FOR IMMEDIATE RELEASE

 

Moving to a new city or town to pursue an academic career can be a

daunting and intimidating task. One must adjust to new people, new

responsibilities and most importantly a new place to live. At

Agents Unknowingly in Violation of Ethics

This is a warning to Agents and a reminder to the public to be careful who you chose to represent you in a real estate transaction. I have recently heard some stories that have taken place locally and want to send this reminder to everyone. It is a violation of the ethical requirement for licensure in Georgia to represent a buyer or seller in a matter that the Agent is unfamilliar with. 

The REALTOR® Code of Ethics - Article 1 starts: "When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client."

Real Estate has a Long Road to Recovery

 

The next years of real estate are not going to be positive for homeowners. In fact, it’s estimated that in 2012 over 60% of all home sales will be foreclosures or short sales. This means that the banks will control the pricing of more than half the real estate market and we can expect continued declining values. This idea may not sit well with many after the mortgage meltdown and moral hazard issues we had over the past five years.

Further, we at Sellect Realty believe that it will be another five to seven years before we see home values near their previous peaks and then we expect a plateau for several years to follow before growth. Currently our market is still declining. Despite month-over-month gains we have had another drastic decline in home values over the past 12 months. According to the recent statistics released by Realtor.com the average listing price decreased by 11.42% from June 2010 to $250,933.  

Program gives homeowners $3000 to move

Program gives homeowners $3000 to move

ATHENS, Ga. -- It's called the HAFA Program. If you are needing to move and are having financial difficulties, then this program may be for you. It is required that the house is to be sold as a short sale and there must be some hardship involved (ie. medical, job loss, job relocation).

Things to Avoid When Holding an Open House

This weekend was national open house weekend. I had the opportunity to see an open house go wrong in a million dollar neighborhood, so I'm going to share some pointers to help your open house go smoothly.

1. Ensure that there are no malfunctions with the home. A defective air conditioner ruins the experience for everyone including the agent. You do not want the agent to be in a bad mood!

2. Have an agent who will not push prizes, giveaways, or follow prospective buyers as they look at the house. The idea is to make everyone comfortable and the way to do that is by making all information readilly available and be available to answer questions.

3. Have drinks and/or snacks on hand, especially on a hot afternoon. At a minimum, bottles icewater and soda is a must.

Challenges to be aware of in today's lending environment

There seems to be a fear out there that banks are not lending money.  This is absolutely not true.  If you do decide to either purchase or refinance a home there are some items that are helpful to know prior to beginning this process.  This article is intended to educate you about some of these complexities.  There are always issues that could arise but having knowledge of the following items could allow you to alleviate some of the potential issues or at least educate you about what could happen. 

SOURCING FUNDS
This issue would only be applicable if you are purchasing a home or putting money down for a refinance.  Depending on the type of loan you are applying for the lender can ask for up to 60 days worth of account statements from the account you will use for funds at closing.  They now require borrowers to show proof of any type of non sourced deposits to the account being used for down payment.  They will not q