Could Your Atlanta Home Be the Next Featured Property on HGTV’s Property Brothers?

Could Your Atlanta Home Be the Next Featured Property on HGTV’s Property Brothers?

In case you haven’t heard, Slyman Real Estate has a current listing that will be featured on HGTV’s Property Brothers in Atlanta later this year. As you can imagine, we are SUPER excited!

Here’s some even BETTER news: Having already worked with the show, we’ve been contacted by the Casting Director of another Property Brothers Show “Buying and Selling” to ask if we might have clients that would be interested in having their home made-over on the show and put on the market to sell. At the same time, they would assist the participating seller with their next purchase. I (Paige Slyman) would serve as your realtor and advisor throughout the entire process so you know I’ll make sure it’s a GREAT experience for YOU!  This could truly be an opportunity of a lifetime! Imagine all the attention your home would get!  And it would be a lot of fun too!

TIME IS OF THE ESSENCE! If you’ve ever thought about selling and think you would like to have your home featured on the show, please give me a call so we can talk about the details and forward the information to the Casting Director ASAP! They aren’t looking for perfect homes so don’t be concerned if your home has good bones but needs work. They are casting for Property Brothers in Atlanta NOW and will only be able to use a certain number of listings to complete the show. I’d love it if I could help you market your home in this BIG way and find your dream home through this unique opportunity!

I’d be very interested to talk to you, your friends, neighbors or family if you think it’s something that you or any of your contacts would be interested in. Please give me a call at (770) 405-0100 ext. 2 or you can reach me on my cell at 770-757-7671.

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Why Right Now May Be the RIGHT Time to Sell

Interest rates are historically low, the economy is on the upswing, and the short sales and foreclosures that had watered down home values for so long have been greatly absorbed. While the demand for real estate is increasing, the supply has been slow to respond.

While it’s true home values have been on the rise of the past few years, there are a few reasons why NOW might be the RIGHT time to sell your home. These include:

The school year is coming to an end. May and June are the best months of the year for buyers with school-aged children to find a new home so that they may be settled in before the fall school start. If you are a seller with school –aged children, you will also benefit from making the change before fall.

Interest rates are still low. Even the most studied economist can’t predict with accuracy what will happen with mortgage rates. Though there have been small movements both up and down, the rates we are seeing right now are about as low as they’ve ever been. As a seller, if you sit on the fence too long, you may miss your opportunity to get these low mortgage rates on your next home.

Prices are moving upward. Home prices are rapidly rising. Simply put, unless your annual income is increasing by at least 10% a year then you should buy sooner rather than later. It is just a matter of time when home prices will exceed your budget.

Demand is high, current inventory is low. If you’re even thinking about selling your home and have held up because you fear being inconvenienced while your house sits on the market for months on end, now is a good time to sell while the buyers are motivated and the supply is low. We have seen multiple offers on many properties over the past couple of months, providing back-up offers if an initial contract falls through.

If you have questions about selling your home, what you can expect from the selling or buying process or how much your home may be worth, feel free to give us a call at 770.405.1000 x 2.

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Property Management: A Viable Real Estate Solution

With inventory down and demand up, the most recent news has been favorable for sellers in the Atlanta real estate market. REALTORS® are reporting multiple offers on many properties, while days on the market are decreasing. But what if you’re a seller whose story isn’t having a happy ending after weeks or even months on the market?

When the selling cycle gets long, sellers have a few options at their disposal. After much frustration, and feeling like they have no other choice, many decide to short sell or go into foreclosure. While it’s true that both of these solutions provide relief, the processes can be complicated and the seller runs a risk of negatively impacting their credit rating and their ability to purchase another home in the foreseeable future.

Another more viable solution that many homeowners don’t consider is property management. In all reality, property management can actually be the best and smartest option for seller whose mortgage is underwater, and here is why:

  • Relief From Mortgage – Property management can offer near instant relief from a mortgage obligation
  • Save Your Credit Rating – Property management allows the seller to keep their credit rating intact.
  • Moving Forward – It allows a seller to move into the next home while rates are good and the home they want to move into is still available at a price that fits their budget.
  • Equity Build-up – It allows equity to build up until the home can be sold at market value while somebody else makes the payment.
  • Positive Cash Flow – In most cases, property owners not only have their mortgage payment covered, but also receive positive cash flow each month from their property.
  • Major Tax Advantages – With the significant tax write-offs that a managed property can provide, sellers can actually make money in a property management situation as opposed to losing their home, their equity and their credit rating.
  • Keeping Your Line of Credit Open – Potentially one of the most important advantages to property management is that it keeps your line of credit open for other expenses. This is especially important for the small business owner who may need their credit to run or expand a business.

Seeing a need for high quality property management services in Atlanta is exactly why we started Slyman Property Management. We are confident that you won’t find any company or individual who provides better property management services in Atlanta than we do. We have experience working with different home sizes and price levels. We have an excellent staff and we know the Atlanta home rental market.

There are many things involved in managing property the right way. Our Atlanta property management services include the following activities: First, we will assist you in setting an accurate rental rate. As part of our services, we will help you stage the property, ensuring it looks its best so you can rent it quickly and for the most money possible. Next, we have the resources to market your property on our website and through our network. We’ll take care of the administrative process so you don’t have to including fielding phone calls, screening potential renters, taking applications, completing credit checks and providing and executing lease documents. When it comes to handling necessary repairs, you can rely on our excellent staff to do what it takes to minimize your costs and keep the lease of your home happy. You can count on a “real” person being available 24/7. And perhaps most importantly, we serve as a buffer between you and the lessee so you don’t have to be directly involved.

Call us to talk about property management before you make your final decision. There’s a good chance we can help take that stress off of you. And for investors, we’ll manage your property for you so you can focus on other things. For questions, information or to schedule an appointment to look at your property, call us at 770.405.0100 x222.

 

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With Demand Outpacing Supply in Atlanta Real Estate, It’s a Great Time to Sell

Dissuaded by slow sales, declining home prices, a struggling economy and banks tightening up on lending, many sellers hunkered down for the long haul over the past five years deciding to make improvements to their existing homes and stay in them a little longer rather than risk losing money by putting them on the market.

Flash forward to first quarter 2013.

According to the National Association of REALTORS®, year-end numbers for 2012 brought the welcomed and encouraging news that last year was the best year in real estate since 2007. With the election behind us, mortgage rates that have remained incredibly low and a slow but steady increase in home prices along with a sharp drop in the number of foreclosures and short sales inflating the inventory count, buyers have come back in numbers much higher than current inventory levels can support. In fact, many Atlanta REALTORS®, are reporting a shorter time on the market for their seller clients and receiving multiple offers on properties is becoming commonplace.

Just how big is the discrepancy between buyers who are ready, willing and able to buy and the number of properties available in the Atlanta market? Consider the fact there are 30,000 homes currently listed as opposed to the average rate for this time of year being around 90,000 homes on the market. This parallels what is happening on a nationwide level with inventory of homes for sale in December at its lowest level since 2001. With February being a historically high-volume sales month in the Atlanta real estate market and moving right into spring which is always a very active season for homes sales, the number of interested buyers is expected to continue to rise as the realization that home prices are moving up hits home with buyers.

What does this mean for sellers? If you have a home that you’ve been sitting on or a property you need to sell, now is a terrific time to get it on the market while buyers are reluctantly playing a game of musical chairs, if you will. Demand is high, average time on the market is getting shorter, buyers are anxious and home prices are expected to continue to move up as demand outpaces supply.

If you have questions about selling your home, we’ll be happy to answer them for you. Give us a call at 770.405.0100 x 222 or email Paige Slyman at slymanfamily@comcast.net. We are also glad to work with buyers.

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Incentives for Buyers

When companies have excess inventory they usually market attractive incentives to allure prospective buyers to take the extra stock off of their hands. From time to time, Fannie Mae, Freddie Mac, HUD, and many other Banks use similar incentives to help push the inventory that has not moved off of their books. (In case you are unsure what Fannie Mae or Freddie Mac actually is, the elevator pitch version of what they do is as follows: they are government formed organizations that seek to help stabilize the real estate market and enable families across America buy a home, re-finance and avoid foreclosure.) If you want more information about these organizations you can find it at: http://www.freddiemac.com/  and http://www.fanniemae.com/.

Currently, both Fannie Mae and Freddie Mac are utilizing some very enticing incentives to help boost the real estate market and get excess inventory off of their books. In this week’s blog we want to go over a few notable opportunities you should know about.

Homes for a Dollar?

HUD offers a “dollar homes” initiative that is designed to help local governments foster housing opportunities for low to moderate income families and address specific community needs by offering them the opportunity to purchase qualified HUD-owned homes for $1 each. Think this sounds too good to be true? It’s not. This program encompasses single-family homes that are acquired by the Federal Housing Administration, which is a division of HUD as a result of foreclosure. Single-family properties are made available through the program whenever FHA is unable to sell the homes for six months. The program enables communities to fix up the homes and put them to good use while allowing for unbelievable price cuts. The newly occupied homes can then act as catalysts for neighborhood revitalization, attracting new residents and businesses to an area. The program is a win/win situation for all involved.

To find out if properties are available for sale in your community, call Paige Slyman today.

No Down Payment

In addition to the great incentives from HUD that buyers all over metro Atlanta can take advantage of, there are still ways to purchase a home with little money for a down payment. Paige Slyman is an expert in advising his clients on all of the great incentives that are currently being offered in the market. He has successfully guided many happy home owners in metro Atlanta in buying their dream home with little to no money down, and he can do the same for you.

In closing, there are a multitude of great opportunities for potential home owners or investors and they just need to know where to go to find them. As these lending programs constantly change, call Paige Slyman to guide you on the opportunities that best fit your needs. Constantly striving to be knowledgeable of the latest ways to purchase a home, Paige has become one of the most trusted metro Atlanta real estate resources over the last two decades.

Contact Paige Slyman for all of your real estate needs at 770.405.0100 x 2 or email us at paige@paigeslyman.com

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History of interest rates: Why Now is the Time to Buy

In an effort to boost the economy and help the struggling real estate market, mortgage rates have been slashed to an unprecedented 4% range. Seasoned real estate investors might re-call a time when rates this low were unfathomable while newer investors to the market might be taking this all-time low rate opportunity for granted.

In fact, mortgage rates had never gone below the 6% range until 2003 and as we approached the end of the last decade we experienced rates fall below 4% which was previously unthinkable in the real estate community.

Prior to the early 2000s, higher mortgage interest rates were a standard part of participating in the real estate market. Dating back to the 1970s, investors experienced rates in the 7% range and by the end of that decade rates averaged around 9%. The 1980s experienced interest rates as high as 19% during some parts of the decade. Comparing these figures to the 4% range today’s market is currently experiencing, it is hard to deny the facts, now is the perfect time to buy real estate.

The 1990s brought more stability to the real estate market and interest rates leveled out and returned to a much lower 7% to 9% throughout the decade. As we entered the middle of the first decade in the millennium the market took a dramatic shift and saw interest rates plummet to below 5%.

In closing, with mortgage rates being at an all time low, it could be very beneficial to jump on the real estate investment bandwagon and take advantage of the historically low rates while you can. As history has shown us, we have not seen the last of high interest rates and it is only a matter of time before this golden opportunity will be gone. Contact Paige Slyman today to learn more about metro Atlanta real estate and how he can guide you into your dream home or the perfect investment property.

Contact Paige Slyman for all of your real estate needs at 770.405.0100 x 2 or email us at paige@paigeslyman.com

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