Terrasol - New Homes in Gwinnett
January 31, 2008 | Leave a Comment
The name Terrasol is derived from the Latin terms for "Earth" and "Sun". How fitting for this earth friendly new community in the highly acclaimed Brookwood High School district of Gwinnett County. The community when complete will be comprised of 128 upscale single family homes, a community center, a free-form pool, play area, four ALTA approved tennis courts and an outdoor fire pit. As if that wasn’t enough, in keeping with the earth friendly theme of the community, more than 40% of the land will remain in its natural state and there will be a natural walking trail over a mile and a half long. The wooded home sites in Terrasol will be generous in size and many will border either the Yellow River or the over 30 acres of preserved woodlands.
Great Gwinnett County Schools
Children living in Terrasol are fortunate to be included in some of Gwinnett Counties finest schools. They will attend Gwin Oaks Elementary, Five Forks Middle and Brookwood High schools.
Developed By Vesmont
Terrasol is being developed by Vesmont, LC. In keeping with their commitment to environmentally friendly building practices, Vesmont will construct the amenity area and the community center utilizing EarthCraft building methods and design principles, much as they accomplished with their Oak Grove Preserve community inside the perimeter near Lakeside High School. Vesmont, LC is a real estate investment and development company that specializes in developing residential and mixed use communities for quality builders as well as today’s home buyer who is looking for a community-based lifestyle in an upscale home.
For more information about Terrasol and lot or home availability contact Mack.
Sugarloaf Area Townhomes and Condos
January 25, 2008 | 1 Comment
The Villages at Huntcrest
One of the most popular gated townhome communities in the Sugarloaf area of Gwinnett County is The Villages at Huntcrest by The Providence Group. Floor plans feature three and four bedroom residences with numerous upscale appointments which include a seperate sunroom, formal dining rooms, media rooms, covered decks and two car garages. Standard features include 42 inch maple cabinets, extensive hardwood flooring, granite counter tops with ceramic tile backsplash and stainless steel or black Whirlpool appliances.
Local Amenities
Enjoying the community pool, tennis courts and walking trails is just the beginning of what the area has to offer. The Villages of Huntcrest is located within minutes of shopping at Discover Mills, entertainment and sporting events at The Gwinnett Civic Center and the Arena at Gwinnett along with being in close proximity to many of the areas finest restaurants. The community is also serviced by some of Gwinnett Counties best schools. Children attend Jackson Elementary, Hull Middle and Peachtree Ridge High Schools.
Special Close Out Sale
The Villages at Huntcrest are currently over 80% sold out. Just 37 of these upscale residences remain available. The Providence Group is holding a "Grand Closeout Sale" which offers buyers the opportunity to purchase with no payment of principal and interest for the first six months of ownership. Thats right spend your first six months in your new home getting to know your neighbors and enjoying much of what Gwinnett County has to offer rather than spending on payments.
Interest Rates in Atlanta
January 24, 2008 | Leave a Comment
The Atlanta Mortgage Market
The mortgage market in Atlanta, along with most other markets, has been extremely volatile over the last few days. Lenders have been publishing rate sheets then retracting them, adjusting interest rates up then down and even preventing brokers from locking loans for borrowers. Typically loan officers get rate sheets from the lenders mid morning each weekday. Since Tuesday rate sheets along with revisions have been coming several times each day. Hopefully some of the volatility has eased from the market.
Fed Cuts Short Term Rates
When the Fed announced on Tuesday that they were cutting the Federal Funds Rate by .75 percentage points the phones began ringing off the hook. What must be understood is that this rate cut is for the interest rates that banks charge to each other. This is for "Short Term" loans and a mortgage is considered a long term loan.
Is It Time To Refinance
In the mortgage business one of the most often asked questions is, Is it time for me to refinance? The short answer to this question is maybe. The better question would be, Is it time to meet with a qualified loan officer to discuss my options? The easy answer to that question is YES. Several documents that you need to have with you so that you can obtain the best advise are your most recent statement from your mortgage lender and your warranty deed.
If you are currently in an Adjustable Rate Mortgage (ARM) also provide the loan officer with the information about when you adjustment periods are along with the amount of the adjustment.
A Big Win For The Little Guys
Much of the recent news regarding foreclosures has centered around how the borrowers entered into Adjustable Rate Mortgages and when they began adjusting upwards the borrowers just could not afford them anymore. With the current rates being in the 5.375% range for a 30 year fixed rate mortgage, it makes perfect sense for any borrower in an ARM to seriously consider refinancing now.
Jamestown In Alpharetta
January 23, 2008 | 5 Comments
Conveniently located at the intersection of McGinnis Ferry and Union Hill Roads in Alpharetta, The Providence Group is currently building another of their impressive communities. Jamestown, while featuring a prestigious Alpharetta address, is in Forsyth County and takes advantage of the lower real estate taxes there. The community is made up of two neighborhoods - The Parc which offers townhomes priced from the high $200’s to Mid $300’s and The Overlook which features single family homes priced from the low$400’s to the low $500’s. Both neighborhoods feature a variety of elevations including brick, stone and siding.
Spacious Well Appointed Floor Plans
The inviting exterior view of the community continues to the interior of the homes as well. Floor plans in Jamestown reflect the needs and requirements of today’s demanding buyers and include some plans with the master bedroom on the main as well as some that offer basements. The spacious interiors include hardwood floors, granite counter tops, built-in cabinetry, stainless appliances, vaulted ceilings and provide plenty of room for entertaining family and friends.
Jamestown Amenities
Jamestown is a gated community that includes winding sidewalks, streetlights and professional landscaping that give it a true neighborhood feel. Homeowners in Jamestown also get to enjoy the community clubhouse, pool, tennis courts and playgrounds. Coupled with the close proximity to shopping, dining and public entertainment area along with being located in the South Forsyth High School district makes Jamestown a must see for buyer’s looking for Alpharetta new homes.
Atlanta Real Estate Expert
January 20, 2008 | Leave a Comment
Now more than ever it is increasingly important for Atlanta consumers to be represented by an Atlanta Real Estate Expert. The landscape of the real estate market in Atlanta is rapidly changing and having an agent that is educated and understands the nature of the market can represent substantial savings both financially and emotionally.
Georgia Real Estate Contracts Change
The Georgia Association of REALTORS has just released the 2008 version of the forms that Georgia REALTORS utilize. And yes there are changes. The major changes came on the Purchase and Sale Agreement, better known as the contract. The legal description can now be attached as an exhibit which would apply to a meets and bounds description or the full legal description for platted subdivisions can be incorporated into the contract. Now for the biggy, the method of payment shall be all cash at closing! Does this mean that you can not finance a home in Georgia anymore, of course not. To protect a buyer with a financing contingency an agent must complete additional documents. While time frames have always been important, knowing how to use them to protect a client especially with the financing and appraisal contingencies now puts them at a premium. The inspection portion of the contract is now the "Due Diligence Period" and also includes the statement that it is the duty of the buyer to inspect the neighborhood.
The News Media Failed
The uncertainty in the mortgage market has gotten most of the attention recently from the news media. One thing the news has failed to cover is the fantastic opportunities available to buyers in this market. Whether new construction or resale it doesn’t matter, it’s a buyers market in Atlanta and consumers need an agent that understands how to do business in this enviornment.
John Wieland Homes Sale of a Lifetime
January 17, 2008 | Leave a Comment
Recognized as one of the leading builders in the southeast, John Wieland Homes will be offering buyers in Atlanta, Charlotte and Raleigh N.C., Charleston S.C., and Nashville, TN. what corporate President Eric Price is calling the value of a lifetime and one-of-a-kind in the home building industry.
Save Up To $100,000!
John Wieland Homes is offering up to $100,000 in savings along with a lifetime structural warranty on every new home whether it is existing inventory or being contracted to be built. So what’s the kicker? Well just like every good retailer all sales, especially one titled "The Sale of a Lifetime", doesn’t last forever. Buyers must take advantage of this sale from January 25th through February 3rd 2008.
About John Wieland Homes
John Wieland Homes was founded by John Wieland in 1970 and currently is building in 60 neighborhoods in the southeast. In 2005 the company won the building industries top award when named "America’s Best Builder". Today they offer a wide variety of floor plans in both single family residences and townhomes ranging in price from the $200,000s to over $1 million.
The Providence Group Celebrates 1000th Closing
January 15, 2008 | 2 Comments
Ending 2007 on a High Note
Rarely do you have the opportunity to celebrate 2 milestones at the same time. This was not the case for Atlanta new home builder The Providence Group. How about celebrating 25 years of building some of Atlanta’s finest homes coupled with closing their 1000th home on December 19th.
Congratulations David and Patty Emerson
Little did the Emerson’s know when they contracted to purchase their new home in Woodbridge Crossing that they would become neighborhood celebrities. The Emerson’s are the proud owners of the 1000th home closed by The Providence Group. They were drawn to the community because of its upscale nature while remaining affordable. The standard features of granite counter tops, hardwood floors, extensive molding packages and stainless appliances along with being conveniently located to schools, shopping and dining seemed to fit the bill for them.
What Does the Future Hold?
Ginny Bryant, Director of Marketing for The Providence Group, stated that they were incredibly pleased with their success in 2007 and The Providence Group continues to defy trends of today’s builders. The Providence Group’s ability to build consistently successful “leading-edge” designs in great locations is the result of careful planning, and a clear sense of vision that surpasses conventional building practices. You can expect exceptional finish levels in every Providence Group home.
Congratulations Providence Group and keep up the good work!
Atlanta Real Estate Advocate
January 13, 2008 | Leave a Comment
When thinking of the term advocate and applying it to the real estate market you would think that it would probably have something to do with being a consumer advocate. I would tend to think so also. There can be two different types of real estate advocates. There would be the buyer’s advocate whose sole intent is to protect the buyer’s interest and a seller’s advocate whose purpose would be to protect the seller. Let’s examine each type.
Purchasing a home is typically the most expensive purchase any of us will ever make. Not only should a buyer enlist the services of a qualified Atlanta Buyer’s Agent but also an individual that would be considered an Atlanta Real Estate Advocate. To be a good buyer’s advocate an agent should have a complete understanding of not only the legal requirements in representing a buyer as called for by Georgia law but also have a good working knowledge of construction techniques, current mortgage information, school information (both public and private) and most of all put the buyer’s interest above all others. For Atlanta First Time Buyers make certain that you get a complete understanding of the process of buying a home. Attending a buyer seminar or workshop is an excellent way to increase you knowledge and after all, knowledge is power especially in a real estate transaction.
Selling a home is also an enormous financial transaction. Rarely would any of us be involved in transactions for hundreds of thousands of dollars except with our homes. Doesn’t it make sense to put your trust someone who understands what is required in Selling a Home in Atlanta. The days of just putting a sign in the yard and answering the calls are gone. Having a solid marketing plan detailing the steps to be taken to properly market a home is the foundation for a successful transaction. To get a home sold in today’s market it is of utmost importance to have the home on multiple websites in order to obtain maximum exposure. One way to accomplish this is through an Internet Data Exchange (IDX) that makes your home available on every agent and broker website in the entire Atlanta Market and really helps when a buyer is searching for Atlanta Homes for Sale.
Having experience in assisting both buyers and sellers has helped me be able to understand the needs and wants of both buyers and sellers. Understanding what each wants pays off when a contract is being negotiated.
The nice part of all of this is that working with a real estate expert in Atlanta who will protect your interest doesn’t cost any more than working with a less experienced agent who may not be as qualified. It is impossible for one agent to be able to cover the entire Greater Atlanta Market effectively. Feel free to contact me for assistance with finding qualified REALTORS throughout Metro Atlanta to help with your real estate needs.
Bank of America Buying Countrywide
January 11, 2008 | Leave a Comment
It has been rumored for some time, however yesterday it seemed to gather increased reporting by some of the financial publications. Both Bloomberg and Reuters had extensive articles about Bank of America puchasing Countrywide.
As I was doing some research for this article I received an email from a Countrywide Loan Officer whom I have known for several years. The email was forwarded and the original is from Angelo Mozilo, Chairman and CEO of Countrywide to all Countywide employees so I would say that this pretty much takes this purchase out of the rumor category. Here is an exerp from the email:
"The highlights are the Bank of America has agreed to buy Countrywide but are going to run Countrywide under the Countrywide brand. This is what many of us wanted to happen – although many of our competitors did not want this to happen. This makes us by far the biggest mortgage company in the country!"
Last August when local lender Homebanc went out of business Countrywide took over their loan origination. Now with Bank of America buying Countrywide the largest mortgage company in the country has been created.
Last fall Bank of America elected to shut down their mortgage wholesale division and originate all loans in house. Now with this aquisition, perhaps the question that should be asked is does this in any way resemble a monopoly? You would have to guess that the Security and Exchange Commission will address this possible issue.
Here is the primary question that I have about this purchase and Bank of America becoming so large in the mortgage business, If the mortgage business in this country is in such bad shape why would Bank of America elect to buy Countrywide and increase their exposure? Sure they are getting Countrywide at a reduced price as Countrywide stock has tanked recently but what about loans that default in the future? Some of the articles that I read indicated that there is a chance that Countrywide was going to be filing for bankruptcy protection. Bank of America could have possibly bought Countrywide for less then.
We will all have to wait and see what the future holds with this purchase. My recommendation to anyone who is refinancing or purchasing a home would be to shop around for the best terms and conditions for your mortgage. Make sure to get a "Good Faith Estimate" and compare the costs from each of the lenders you have selected.
Atlanta’s Golden Triangle
January 9, 2008 | Leave a Comment
Smart Numbers
When it comes time to talk about statistics in the Atlanta Real Estate market the person you talk to is Steve Palm of Smart Numbers. For years Mr. Palm has been providing builders, developers and even the listing services in the Metro Atlanta area with statistical data and accurate forecasts.
Atlanta Real Estate Sales Heading Up
I had the privilege of attending a meeting yesterday were Mr. Palm was the featured speaker. He pointed out some interesting statistics about the Atlanta market. For the entire Atlanta market the last 2 months have shown an upturn in residential sales. This upturn has been fueled primarily by the resale segment of the market. Mr. Palm anticipates a quicker recovery from the resale segment than from the new construction side of the market. He bases this forecast on the fact that there are approximately 14 months of inventory for new construction versus approximately 10 months of inventory in the resale segment. In addition to the inventory status, due primarily to land prices and building materials escalating, the pricing structure of new construction has far exceeded the price appreciation in the resale market.
Atlanta’s Golden Triangle
One area that was pointed out in his talk as being a prime real estate area in the Atlanta Market is the area he referred to as "The Golden Triangle". I really liked hearing this information as this is my primary service area. This area encompasses parts of Gwinnett County, Fulton County and Forsyth County. The primary reason this area is so highly thought of in Mr. Palm’s eyes is due to the transportation arteries. The Golden Triangle, as it is referred to, is outside of Interstate 285 and is between US Highway 78 and Ga. Highway 400. What separates this area from other segments, and makes it so special, are the 7 major arteries for the area; Highway 78, Ronald Regan Parkway, I-85, Highway 316, I-985, Peachtree Industrial Blvd. and Highway 400.
I have to say that I agree with Mr. Palm’s assessment of the area. For those of us that live in the area we can tell you that not only are we fortunate to have these transportation arteries, but we also have some of the best schools in the entire Greater Atlanta area.
