If It Won't Appraise, You Might Have To Stay!

This last week has been tough on two of my sellers. 

Two contracts, one on a home in Auburn and one in Lawrenceville. Both in areas of Gwinnett County that are rebounding both in number of sales and values. But this past week these two homes didn't appraise for the contract price. This is really tough when you have a buyer that agrees to pay what the seller wants and needs to sell the house, and the appraiser has a different idea. I know how this works, the comps have to support the value and in both cases they did, just not in those particular subdivisions.

So why am I telling you this?

I'm hoping to help you as a seller understand how the market works when it comes to appraised value. Bottom line, the appraiser holds the key. If he/she can't support the contract price with comps, it's no deal. That's why it's so important to price it correctly to begin with. Listen to your Realtor because that's what they're trained to do. You might be asking why the two deals I mentioned above weren't priced correctly. Well I felt confident they were. The comps used to price the homes were just outside the neighborhoods they were listed in but were almost the same exact home as the subjects. Ultimately the appraiser will use the in-neighborhood comps before going outside the neighborhood even if those comps aren't as close to the subject's style, size etc. The type of loan the buyer is getting will also dictate how "loose" the appraiser can be with the comps. FHA will be more strict than a conventional. The lender also has veto power. 

Price it well, not with "a little room to wiggle"

It's hard to explain this strategy to most people because everyone thinks you need room to negotiate. The fact is, setting your price high, even a little bit, will lead to situations like I explained above. The seller prices $10k over the suggested price, the buyer comes in and agrees to a price somewhere in that range between suggested and $10k over and the appraiser says I don't think so. And unless the seller can meet the appraised value, the deal is dead. Yes, that is an option but it brings me to the point with all this.....why price it high when you can price it to sell and be done with it? 

Our goal is the same, sell the house quickly for the most money

When you hire me, my goal is to sell your home for the most money in the least amount of time. If we meet and you don't like my plan, you can talk to other agents sure. But are you accomplishing anything by listing with someone that just says yes? Think about it this way, if you went to the doctor and told him you have a cold and you need some antibiotics and he just says...."ok". Do you really feel comfortable with his ability to cure you? Probably not. So listen to your Realtor. 

www.SteveSellsGwinnett.com Steve Rider, CDPE Realtor with Keller Williams Lanier Partners in Braselton Georgia. Covering Barrow, Jackson, Gwinnett and Hall Counties in Northeast Georgia. If you're looking for real estate in Gwinnett County please contact me at 404 663 7063 or steverider1@gmail.com.

They're Just Little Kids

I can't wrap my head around this. I've tried to stay away from the news this morning, stay away from the internet and keep myself busy to not think about it. I've learned that's impossible because no matter what I do, the thought of those sons and daughters laying there, lifeless at the hands of a coward, creeps into every crevice of my mind. That's really what these folks need right now...thoughts and prayers....so I'm going to stop trying to avoid it. Thus the reason for this note.

My daughter is 6 years old and when I drop her off at school every morning, I kiss her and give her a wink as she closes the door. I can't even begin to imagine what it was like for these parents when they found out that kiss or wink was the last their child would ever get from them. Parents should never have to endure this kind of pain, nor should a child.

It's so hard for me to write these thoughts out but I feel it's something I must do to cope with this tragedy. I'm not an overly emotional person but this story grabs you by the heart and just rips and tears until you give in. My daughter doesn't understand the scope of this event and I'm not sure if I want her to. We talked about it briefly and she has asked a few questions but nothing more. She hasn't seen my or my wife's emotions yet but if that happens she'll understand because she's a smart kid.

As I drove around yesterday listening to the news unfold, my stomach was sick. Every time a new detail or picture came out I got sick to my stomach. You know that sinking feeling that goes all the way to your toes? It was hard to function and as much as I wanted to know the details, every time a new one came out it was bad. The worst part was thinking about what the victims were going through as this was all taking place. How scared were these little angels as this devil was wreaking his havoc? That's the one thought that has haunted me since hearing about this and I can't get it out of my head. Imagine how scared they were.

In the coming days, these families and first responders will need us, the American public, to keep them in our thoughts and prayers. No one should have to endure this kind of pain. I'm 1000 miles away and I'm devastated as I'm sure every parent in America is. So I'm committed to keeping these people on my mind instead of trying to avoid it. That's what we do as Americans. We stick together and we feel each other's pain. I wish I could go there and just hug them. Comfort them and tell them that although it's hard to imagine it in a time like this, God has a plan. I have to be honest I'm still questioning His call on this one as I'm sure I'm not the only one.

Dacula Real Estate Trends

I'm asked this question all the time...."How's the real estate market doing in the Gwinnett area?" 

My answer is always the same. "It's good if you're priced right and motivated". In the past few years it's been hard for most folks to price right because of the decline in values. Did you know there's a way you can stay informed 24/7 about your local market?

Click below to become a Market Insider. 

There's no cost to sign up and no obligation to get updated regularly on recent trends in your area. Just a few clicks, enter your zip code and you'll get tons of information. Here's a few current stats about the 30019 zip code....

Median Listing Price $219,990

Median Days on Market 71

Active Listings as of today 289

Distressed Listings 16.6% 

http://www.gwinnetthomesforsale.info/mimarket/zip/30019/


www.SteveSellsGwinnett.com Steve Rider, CDPE Realtor with Keller Williams Lanier Partners in Braselton Georgia. Covering Barrow, Jackson, Gwinnett and Hall Counties in Northeast Georgia. If you're looking for real estate in Gwinnett County please contact me at 404 663 7063 or steverider1@gmail.com.

Short Sale Assistance in Dacula Ga

Don't know if a short sale is right for you? Let me help you make that decision. If you live in Gwinnett County Georgia call me 404 663 7063 or click below for more information. Don't wait too late because there are ways to avoid foreclosure in Georgia. 

www.SteveSellsGwinnett.com Steve Rider, CDPE Realtor with Keller Williams Lanier Partners in Braselton Georgia. Covering Barrow, Jackson, Gwinnett and Hall Counties in Northeast Georgia. If you're looking for real estate in Gwinnett County please contact me at 404 663 7063 or steverider1@gmail.com.

Dacula and Gwinnett Real Estate Values

There's never been a better time to sell your Dacula home! Inventory is low. CALL ME TODAY for a free, no obligation market analysis. 404 663 7063

Dacula and Gwinnett Real Estate Values

www.stevesellsgwinnett.com Steve Rider, CDPE Realtor with Keller Williams Lanier Partners in Braselton Georgia. Covering Barrow, Jackson, Gwinnett and Hall Counties in Northeast Georgia. If you're looking for real estate in Gwinnett County please contact me at 404 663 7063 or steverider1@gmail.com.

I'm Here to Help....But You Have to Let Me!

This week I found out that someone I met with in Dacula last year is about to be in foreclosure.

At the time of the meeting the homeowner was being transferred and wanted to lease the property. I offered to help find a tenant, screen them and handle the move in/move out. They declined because they didn't want to pay the fees associated with my services. The fee is one month's rent which in this case was $1200. This is paid by the tenant at the time they sign the lease along with one month's deposit. (So essentially the homeowner pays the mortgage the first month the tenant occupies the house, this way the homeowner doesn't have to come up with the commission)

They finally found a tenant that broke the lease before the end of the term. The next tenant was evicted three months later and the property has been vacant ever since.

 Let's break this down and see if they saved any money by not hiring a Realtor......

1. Paid attorney and court fees to evict tenant....$200
2. Cleanup of house....$250 (twice)
3. Time and travel from out of state.....$500 (twice)
4. Carrying costs (utilities and maintenance) monthly for vacant house (insurance is much higher) $200

So deciding to do this themselves actually cost them more than it would have cost to pay a Realtor to do it for them. Not only that, they've been paying the mortgage payment plus rent where they're living out of state because the house has been sitting empty for several months.

Now I hear the house is being foreclosed on in December which is sad because I've offered short sale assistance as well. This was a slam dunk short sale hardship but for some reason they wouldn't accept my offer to help. Short sales cost the homeowner nothing out of pocket and will save you about 6 years of headache on your credit report. The commission is paid from the bank's net proceeds, not from the homeowner.

Realtors have to eat too!

If you know any Realtors, you know that we like to eat. Have you ever been to an open house without food? Probably not. Just like every profession, we have to get paid and most people don't realize that Realtors are paid commission only! We are all self employed and working for you for free until we close the deal.

So I have just as much to lose as you, the client, if I don't get the deal done. Honestly I get as much or more satisfaction helping someone avoid foreclosure or just selling their home as I do getting paid. It's important to me but not my motivation. So if you know someone in a similar situation or maybe it's you, please CALL ME before it's too late. I'll be honest and advise your best solution even if it's not working with me!




www.SteveSellsGwinnett.com Steve Rider, CDPE Realtor with Keller Williams Lanier Partners in Braselton Georgia. Covering Barrow, Jackson, Gwinnett and Hall Counties in Northeast Georgia. If you're looking for real estate in Gwinnett County please contact me at 404 663 7063 or steverider1@gmail.com.

If You Build it They Will Come....and Buy Liquor

Who's ready for a drink?

Apparently the residents of Dacula are. The voters have spoken and the package store referendum passed on Tuesday by an overwhelming 181-76 margin. I personally signed a petition long ago to convince leaders to put it to a vote.

The votes are in and the people say "Let's buy some liquor!"

I know this is a hot topic for a lot of people in this town. Liquor stores on every corner could have a negative effect on the area. That's not going to happen so don't worry. Dacula isn't big enough to support more than one and the store Russ Weaver, the man behind this whole thing, will build is going to be nice. Quoting Mr. Weaver from Dacula Patch..."I’m going to open one of the best stores in Georgia. It’s going to be really nice.”

You know the old movie line..."If you build it they will come". Well I'm guessing that if you set up a 6ft table in the Kroger parking lot they would come based on the vote count. What I'm hoping for, and what the rendering shows, is a nice building that blends in well with it's surroundings.


Photo credit courtesy of Russ Weaver

There is quite of bit of work to be done before construction can begin but the largest hurdle has been jumped. This will definitely be great for tax revenue for Dacula. I just hope they have a good selection of tequila!


www.SteveSellsGwinnett.com Steve Rider, CDPE Realtor with Keller Williams Lanier Partners in Braselton Georgia. Covering Barrow, Jackson, Gwinnett and Hall Counties in Northeast Georgia. If you're looking for real estate in Gwinnett County please contact me at 404 663 7063 or steverider1@gmail.com.