Maintenace Free Step Less Ranch

Construction is underway on the New Courtyard Collection at The Villas of Johns Creek. Each of these 4 new open floor plans center around a private courtyard which is an extension of the indoor space. Each of these properties allow for you to customize your courtyard with an optional fire pit, water feature or plant trellis.

These new courtyard plans start at $239,900 and are ready for you to personalize with your interior paint colors and design options. Construction is scheduled for completion in early December 2009 so you can be in your new maintenance free, step less Ranch Condo for the holidays.

For additional information on the Courtyard Collection at The Villas of Johns Creek contact me and we will schedule a time for you to see these remarkable homes. You can also view all Homes Available in The Villas of Johns Creek online.

Statistics for single family detached homes in the North Fulton County real estate market for the month of January 2009 are in. North Fulton County is divided into two different areas and we will examine each area and then look at North Fulton County as a whole.

Area 13

Area 13 is the section of the county that is West of Ga. 400 and North of Chattahoochee River to the County lines and includes addresses from Alpharetta and Roswell. In the resale segment of the market there were 47 properties ranging in price from $139,900 to $1,350,000 that went under contract and 11 properties that closed ranging in price from $55,000 to $596,000. In the new construction segment of the market 2 properties went under contract ranging in price from $679,900 to $779,900 and 2 properties that closed ranging in price from $772,500 to $1,350,000.

Area 14

Area 14 is the section of the county that is East of Ga. 400 and North of Chattahoochee River to the County lines and includes addresses from Alpharetta, Duluth, Johns Creek and Roswell. In the resale segment of the market there were 47 properties ranging in price from $128,900 to $775,000 that went under contract and 7 properties that closed ranging in price from $158,900 to $420,000. In the new construction segment of the market 4 properties went under contract ranging in price from $307,172 to $799,900 and 2 properties closed ranging in price from $442,000 to $619,900.

North Fulton County Summary

For the month of January 2009, real estate sales for single family detached homes in North Fulton County looked like this:
•    94 Resale Properties Went Under Contract
•    18 Resale Properties Closed
•     6 New Construction Properties Went Under Contract
•     4  New Construction properties Closed

The resale segment of the North Fulton County Real Estate market is providing the catalyst for the recovery in this area. Compared to December of 2008 resale properties going under contract in North Fulton County increased by 80.76 percent. Hopefully this trend will continue and the entire Greater Atlanta Market will soon flourish and stimulate the economy in our great metropolitan area.

The Isakson/Lieberman Amendment

News out of our nation’s capital is providing perspective buyers with reason to celebrate and look ahead in the housing market. We have all heard of the “American Recovery and Reinvestment Act” that President Obama wants enacted immediately. An amendment to benefit buyers of primary residences was introduced by Senator Isakson (R-GA) and Senator Lieberman (ID-CT).

Comments from Senator Lieberman, “The rapid decline in housing prices lies at the heart of the economic crisis.”  “Real economic growth will not resume until housing values stabilize and American families once again have faith and confidence that the most valuable asset they own – their home – is safe and secure. This kind of credit could repay dividends many times over by increasing housing values, creating construction jobs, and generating state and federal tax revenue.”

The amendment was met with bipartisan support and was approved. The important provision in the amendment was the establishment of up to a $15,000 tax credit for buyer’s purchasing their primary residence.

How Does It Work?

The calculation for how to determine how much your tax credit would be is performed in this manner. Your will get a tax credit for 10% of the purchase price of the residence up to a maximum of $15,000. One of the nice provisions of the amendment is that the tax payer may choose to take the credit all in the first year or it can be split between two (2) years. One very positive feature, as opposed to the First Time Buyer Tax Credit of last year, is that this tax credit does not have to be repaid.

What Is The Timeframe?

Upon enactment of the legislation a buyer will have one year in which to complete their purchase. This sounds like a long time but in reality now is the time to start looking. The housing inventory is at a peak and your best selection for that home that meets your exact requirements may be right now.

What Are The Drawbacks?

The only drawback or downside to this amendment is that if the residence is sold or is not utilized as the primary residence in the first two years, the tax credit must be repaid. There are of course circumstances where this repayment would not apply.

Last week, while attending a continuing education class, I along with the other attendees saw on a listing the classification for a HERS Index. One student in the class asked, what is a HERS Index? No one was able to answer the question. As is usually, when a question like this arises there will be research done and a blog post to follow that answers the question. This is no exception.

After doing a Google search, the first site that I visited in my quest for information on a HERS Index/Rating was the Energy Star site. What I found was that a HERS rating is a scoring system that involves an analysis of a homes construction plans along with on site inspections and testing. Upon review of the plans the “Energy Rater” uses an energy efficiency software package to analyze the design of the home. The Rater will then make recommendations to the builder that will identify energy efficiency improvements that will ensure that the home will meet Energy Star performance guidelines.

Onsite inspections are made by the “Energy Rater” along with the input from the original plan review are used to generate the HERS Index. The on site inspections typically include a blower door test that tests for leaks in the house and a duct test that test for leaks in the duct work.

So now we know what HERS stands for: Home Energy Rating System.

But What Do The Numbers Mean?

Based on the 2006 International Energy Conservation Code, a home built to these standards will have a Hers Index of 100. The lower the Hers Index the more energy efficient the home is. A 1 point decrease in the HERS Index equals a 1% saving in energy consumption compared to the standard. A home with a HERS Index of 85 would be 15% more efficient than the standard.

Who Does The Testing?

The second site that I went to while searching for information was the Residential Energy Services Network (RESNET) site. From their site we get the RESNET Mission Statement:
•    The Residential Energy Services Network’s (RESNET®) mission is to ensure the success of the building energy performance certification industry, set the standards of quality, and increase the opportunity for ownership of high performance buildings.

Certified Rater’s must complete training by a RESNET Accredited Training provider and pass a test to be certified. After certification, the Raters then begin their work of examining plans and helping builders construct more energy efficient homes.

Builder Short Sales

A builder doing a short sale on a new construction property is just plain scary. What you as a buyer are being told, in a not so subtle way, is that the builder is probably not going to be able to cover any warranty work that needs to be performed on your new home. Having that builder backed warranty for the first year is a huge financial advantage. Getting a home warranty can rectify some of your exposure however many of the items that need to be corrected in that first year are cosmetic items that a home warranty does not cover. After all, the appliances are covered under the manufacturer’s warranty. I have yet to see a new construction home that does not have settling cracks and nail pops during that builder warranty period. Now, I don’t want you to think that I’m saying not to buy a Builder Short Sale. I’m just saying that you need to buy it at a price that makes it worthwhile to take on the additional financial risk.

Is It A Tough Market?

Sure the market is tough for the new home builders right now. It’s tough for everyone. Everything involved in our economy is tough. These tough times require that you, as an educated buyer, demand certain things from your agent. Possibly the most important thing that an agent can do for a buyer in today’s market is share the knowledge about builders and construction techniques that has been obtained through years of hard work. Not only the sharing of knowledge, but also the ability to obtain current information about the prospective builder’s financial status and prospects for the future. No one wants to be in a situation where they purchase a home today and the builder is gone tomorrow.

Educated Buyers Work With Business People

In the past the thought was that “If you build it they will come”. To some degree that was accurate. In today’s market educated buyers are working with builders and agents that treat their business as a business. The builders and agents that will survive in this market are businesspeople that operate and act like businesspeople.

Don’t Scare Me

The thought of one of my buyers purchasing a home from a builder via a short sale scares the mess out of me. I take pride in protecting my buyer’s best interest. I just don’t think this type transaction is a good fit for buyers who don’t understand the additional financial risks involved.

Statistics for single family detached homes in the North Fulton County real estate market for the month of November 2008 are in. North Fulton County is divided into two different areas and we will examine each area and then look at North Fulton County as a whole.

Area 13

Area 13 is the section of the county that is West of Ga. 400 and North of Chattahoochee River to the County lines and includes addresses from Alpharetta and Roswell. In the resale segment of the market there were 30 properties ranging in price from $71,400 to $1,750,000 that went under contract and 14 properties that closed ranging in price from $68,250 to $1,375,000. In the new construction segment of the market 7 properties went under contract ranging in price from $389,900 to $859,000 and 1 property closed at $515,000.

Area 14

Area 14 is the section of the county that is East of Ga. 400 and North of Chattahoochee River to the County lines and includes addresses from Alpharetta, Duluth, Johns Creek and Roswell. In the resale segment of the market there were 62 properties ranging in price from $129,900 to $1,599,900 that went under contract and 12 properties that closed ranging in price from $186,000 to $765,000. In the new construction segment of the market 8 properties went under contract ranging in price from $327,535 to $1,150,000 and 1 property closed at $370,995.

North Fulton County Summary

For the month of October 2008, real estate sales for single family detached homes in North Fulton County looked like this:
•    92 Resale Properties Went Under Contract
•    26 Resale Properties Closed
•    15 New Construction Properties Went Under Contract
•     2  New Construction properties Closed

Compared to the data from October 2008, the North Fulton Market is inching it’s way toward recovery. For Resale Properties there were 20 more properties that went under contract and 6 more properties that closed. For New Construction, there were 2 fewer properties that went under contract with the same number of closings. Taking into account the Thanksgiving Holiday along with the beginning of holiday shopping, these numbers look inviting.

John Wieland Homes has recently been awarded the J D Power New Home Builder Customer Satisfaction Award for Atlanta. This is the second year in a row for John Wieland to receive this prestigious award. J D Power uses nine factors to evaluate home builders: Builder’s Sales Staff, Builder’s warranty/customer service staff, workmanship and materials, price to value ratio, home readiness, construction manager, recreational facilities provided by the builder, Builder’s design center and location. The composite of these nine factor generate the “Overall Customer Satisfaction Rating”. For more information on how builders in the Atlanta Market rated in this study Click Here.   

Congratulations John Wieland Homes, Ya’ll Done Good!

As of July first of this year all builders and remodelers in the state of Georgia are to be licensed by the State Licensing Board for Residential and General Contractors. There are three types of contractors that must obtain a license by July 1, 2008.

*  Residential-Basic Contractor (Contractor work relative to detached one-family and two-family residences and one-family townhouses not over three stories in height).
* Residential-Light Commercial Contractor (Contractor work or activity related to multifamily and multiuse light commercial buildings and structures).
* General Contractor (Contractor work or activity that is unlimited in scope regarding any residential or commercial projects).

A fourth classification of contractor is the specialty contractor who is not required to be licensensed. This classification would include painters and roofers for example and they are not allowed to hire subcontractors.

I would think that the purpose of this law would be to help protect innocent homeowners and home buyers from unscrupulous contractors. We have all heard horror stories about homes and projects that have not worked out as originally planned. One big advantage of this law is the requirement for contractors to meet minimum standards for education, financial stability and workers compensation.

So what will the down side of this law be? Since Atlanta is so close to Florida, some of what happens there makes its way to our news programs. When a major event such as a hurricane hits Florida, it can sometimes take additional time to even get bids on getting work done much less getting the work itself performed.

The real estate market is quite unique at this particular point in time. History tells us that even though we have seen ups and downs, we just have not experienced a market like this. Increases and decreases in property values occur all the time just like the stock market. Generally speaking, over the long haul the value goes up. So what makes this market so unique?

What Happened To the Mortgages?

Up until several months ago there was a mortgage program for just about everyone. Then came the sub-prime market shake up and loan programs were reduced to some of the most basic. On top of that, investors tightened up the qualification parameters for applicants. Many first time buyers utilized 100% financing programs which went away. That breathed new life into the down payment assistance programs, which congress may soon do away with. The number of buyers who can qualify for a mortgage in today’s market has declined which therefore creates a negative impact.

Price Your Home Right

Pricing a home correctly when it first goes on the market is more important now than ever. In the past sellers market, when the market was appreciating and mortgage programs followed freely, it was an accepted practice to price your home slightly above value to allow some negotiating room. In today’s buyer’s market this just is not the case. As a seller you don’t want to put yourself in the position of “Chasing the Market”. So how do you avoid this pitfall? The easiest and most comprehensive way is to have your home appraised by an independent third party who is a licensed appraiser.

Help Buyers Buy Your Home

What other factors influence a buyer’s decision of whether or not to make an offer on your home? The main ones are appearance, appearance and appearance. Make sure that the exterior is inviting, remember you only get one chance to make a good first impression. Removing clutter and having clean carpets along with fresh paint will help tremendously. If your home is not in show ready condition and properly priced it is almost certain that you will be chasing the market instead of having the market chase you!

When you think of ranch style condos, the first thing that comes to many of our minds is an active adult community. While this may be the case for most one story condo communities, I was pleased to find a community that was not so restrictive. Ideal for active adults as well as single parents and young professionals, I had the pleasure of previewing “The Villas of Johns Creek”. The first thing that impressed me was the location. After all, in real estate we hear the three most important words are location, location and location. Being near the intersection of Peachtree Parkway (141) and Abbotts Bridge Road (120) The Villas of Johns Creek are convenient to shopping, dining, recreation and commerce and are in the prestigious Northview High School District.

The clubhouse and heated pool were impressive. Inside the clubhouse several amenities stood out. The complete exercise room, the resident’s game and media room just to name a few. The grand room of the clubhouse featured card tables along with a full kitchen for resident events.

The Villas of Johns Creek is a planned 70 unit luxury ranch style condominium community. The condos are built utilizing a quad design and feature 2 or 3 bedrooms. Priced from the mid 250’s, these maintenance free homes are perfect for all ages to enjoy. Let someone else take care of the yard work while you spend you free time doing the things you enjoy most.

You can view the available properties at The Villas of Johns Creek here.