For starters, we’re taking part in a new venture led by Action Ministries called Smart Lunch, Smart Kid. Did you know that over 800,000 Georgia children rely on free or reduced-priced lunches in order to receive proper nutrition during the school year? Have you ever stopped to think about what happens to these kids during the summer break? Through the Childhood Nutrition Initiative, we’ll be working with a great group of organizations and volunteers to provide healthy meals to these children—over 100,000 will be distributed throughout the summer months. For our part, we’re starting off by packing and donating 100 lunches on May 31^st to Inman Park United Methodist  off Edgewood Avenue. Throughout the summer, we hope and plan to be an impacting, contributing factor to the fight against childhood hunger right here in Atlanta.

We attended a media launch today to learn more about the program, and you can learn more too by checking out this video.

We’re also going to have tons of fun taking advantage of the myriad community events coming up…and we’ll be giving away free stuff to all our neighbors! The East Atlanta Beer Festival is this Saturday, May 19^th, and Red Robin is a sponsor. We’d love to see you under the shade of our tent, snagging free stuff…or even better, manning the Red Robin cornhole game for a chance to be entered into our raffle!

We’re really excited about getting out and about this spring and summer, having fun with our neighbors and giving back to the community that has supported our success over the years. Follow us on Facebook for updates on other neighborhood events where you can catch Red Robin!

Also, if you would like to volunteer in any capacity, large or small, to help feed Atlanta’s youth this summer, please contact Rachel Ruckart at rruckart@actionminstries.net or 404-593-8190. Rachel is the Lead Program Coordinator for Smart Lunch, Smart Kid and welcomes any level of involvement.

A small blurb from an Atlanta real estate blog:

We are seeing more appraiser cases now because of the economy,” Georgia Real Estate Commissioner Bill Rogers told WXIA. “It’s coming to light that some of the appraisals are suspect. When prices are going up and real estate is active you don’t have a problem and the cases do not come to light, but they really are now, and now we have 200 appraisal cases.”

Rogers said most of the appraisals in question involve appraisals that are about 30 percent lower than the homeowner thinks they should be or what the lender thought they were, the station reported.

There wasn’t much to the post, but the topic was one that piqued my interest. Those of you who know me are already aware this is a hot button issue of mine, and I think it is one that warrants further discussion. Why? Because I feel confident the outcome of these investigations could potentially have a dramatic effect on Atlanta real estate transactions.

The only true determining factor of “market value” is the price a buyer is willing to pay and a seller is willing to accept during an arm’s length transaction. The sales price of a house should not be determined by an appraiser.

For sellers, the financial implications of a low appraisal are devastating; and in a market where sellers are typically upside down on their homes and already taking a beating during the negotiations over price, a low appraisal is more likely to kill a transaction, even if the buyer and seller were already on agreeable terms. Call me crazy, but shutting down legitimate transactions based on low appraisals is definitely not helping the housing market.

That said, I know a lot of great appraisers and feel their pain. They’re under a tremendous amount of pressure, and their valuations are reviewed under a microscope by lenders. Like many professions, there are good appraisers, and there are appraisers who likely deserve scrutiny.  But, the bottom line is that the role of an appraiser is to determine if the contract price is a reasonable representation of market value–not to determine the market price.

Appraisals have been a very challenging part of the real estate transaction in recent months and have caused many, many closings to go south. I believe these low appraisals have been a significant contributing cause to declining prices in some Atlanta neighborhoods. Some homeowners—many of whom are already hurting in the wake of the market crisis—are forced to reduce their asking price lower than a willing buyer agreed to pay based on an appraiser’s price. The buyer and seller’s agreed upon value of the home should be the determining factor in calculating price, not the appraisal amount.

I could write about this topic for days, and it is certainly a complex issue deserving of dialogue.  Regardless, it’s encouraging to see that there is at least a little push back from the real estate community. It will be very interesting to see the outcome of the Georgia Real Estate Commission’s investigations.

Has anyone had any specific appraisal issues recently that bear further discussion?  Or, questions about the appraisal process?  Post them here and let’s talk!

If you’re an HGTV junkie then chances are you’ve tuned in for some of the network’s popular home improvement shows, nearly all of which have stressed the importance of staging your home for sale.

Are you tired of waiting for a TV crew to come help you with your own home? You don’t have to find yourself on one of these hit shows to be a staging star. Simply follow a few of our expert tips!

1. Remove the Clutter. Instead of a potential buyer’s eyes moving easily from one side of a room to another, leaving their mind at peace to imagine their own life in your space, clutter disrupts the flow and catches the buyer’s gaze. They will focus on your mess or dust instead of your lovely fireplace or hardwood floors.
2. Organize. Once you have removed the clutter and knick-knacks (staging is more about minimal accents) it’s time to organize what has been left behind. Built-in storage systems are an excellent way to get offices and closets in order. Need a way to take extra clothes or seasonal items to the garage? Invest in a few inexpensive plastic tubs. For future convenience, be sure to label all boxes.
3. Clean. You want your home to appear move-in ready at showings. That doesn’t just mean that your title and contacts are in order. It means that your home needs to look and smell clean. Mop, vacuum, and wash down every surface. Leave no dust bunny unturned! This could be the time to hire a professional cleaning service.
4. Refresh Paint. Walls turn dingy over time even in the cleanest of homes. Consider putting on new color to freshen and update your rooms.
5. Room Appropriate. When your home is listed on the MLS as a 3 bedroom home it is important that this is what buyers see. They don’t want to see 2 bedrooms and craft room, exercise room, or home office. During the staging process keep rooms what they were designed to be.
6. Create Ambiance. Ambiance is about the way a home makes you feel. In some homes you’ll want a cool, modern atmosphere created by simple decor and perfect lighting. In most homes, though, buyers seek a warm and homey atmosphere. Accomplish this through the use of vanilla candles, lit fireplaces, area rugs, baked cookies, and staged living areas (set dining tables, games in the living room, and outdoor patios).
7. Staging Outdoors. Don’t forget one of your most important spaces — your outdoor “rooms.” More and more buyers are extending their living spaces into the great outdoors. Stage patios with simple furniture, outdoor dining sets, comfortable pillows, and chiminea or plant life.
8. Leave No Closet Unturned. Buyers will open your closet doors, so don’t think you can stuff your clutter away! Stage these areas by color coding clothes and storing away small items in totes or boxes. If the budget allows consider investing in built-in storage units.
9. First Impressions. It is of paramount importance that you stage the front of your home. You never know what prospective buyer might drive by and see your For Sale sign. Front doors should have fresh coats of paint. Yards should be tidy and trimmed. And a new welcome mat and flowers or wreath are a great finishing touch.
10. New Eyes. One of the most important tips for staging is seeing your home through fresh eyes. We become accustomed to the way it looks and are apathetic to what changes need made. See your home through the eyes of a new buyer.

Staging is one of the best ways to let your buyers see the true potential of your home. By creating an ambiance that is clean and stylish you can inspire buyers wanting to live that lifestyle to buy your home!

Article Source: http://realtytimes.com/rtpages/20120314_rateupdate.html

Job Responsibilities

•  Coordinate marketing for all new listings including directing photo shoots, meeting with homeowners to determine key selling features, writing capitivating property descriptions and maximizing online exposure.
• Assist Listing Specialist and Managing Broker as needed to coordinate management of listings.
• Assist in the management of contact database and lead management system. Implement automated marketing campaigns and direct mail marketing campaigns.
• Design flyers, brochures, postcards, ads, signage and other marketing materials as needed to promote the Red Robin Group brand.
• Write blogs and company newseltters for distribution to clients and prospects. Create property videos to maximize online exposure.
• Manage Social Media presence including Facebook, Twitter, LinkedIn.
• Evaluate and recommend new marketing opportunities.
• General administrative duties as required, such as greeting guests, answering phones, and ordering office supplies.

Job Requirements

• Previous marketing experience or a Marketing degree is required.
• Real estate experience is preferred, but not required.
• Strong technology skills and aptitude, particularly in social media.
• Must be a self-starter and work independently.

Application Information

• Salary Range $25,000-40,000
• Full-Time position
• Red Robin Group office is located in East Atlanta at 749 Moreland Avenue, A-102, Atlanta, GA 30316
• Qualified candidates should send their resume, cover letter and 2-3 marketing samples to Melissa Wakamo at melissa@redrobingroup.com. 

While 2011 was clearly a challenging year, there is a lot to be positive about looking ahead. Economically, while buffeted by natural disasters and fiscal policy indecisiveness at home and a European sovereign debt crisis abroad, the U.S. economy was able to stave off economic stagnation in 2011 and is likely to continue to do so in 2012.

Housing statistics and the duration of the housing downturn to date indicate that 2012 may be the year we begin to turn the corner. In the summer of 2011, economic concerns peaked as the economy appeared to be on the brink of stagnation. Since the recession officially ended, this was a nadir for the economy as consumer confidence Data as of November 2011 plummeted, concern about a double-dip recession resurfaced, and fiscal policy indecisiveness reached its zenith. In the second half of the year, and heading into 2012, most major economic statistics are exhibiting an encouraging level of stability and positive, but weak, trends. Though the pace of growth is slow, it is to be expected in an economic recovery caused by a financial crisis.

Households are paying off their debts and at the same time accessing credit more easily. Surprisingly, households also added Home Equity Lines of Credit in the third quarter for the first time since the financial crisis began, which is a positive sign of access to liquidity that softens the impact of income shocks. A quarterly survey by the New York Federal Reserve Bank1 shows that total household debt continues to decline, but at a slowing pace. During 2012, households will need to find their equilibrium between household debt levels and consumption.

Consumer sentiment rebounded strongly in the latter part of 2011, posting a six-month high in December. While still low compared to pre-recession levels, this figure indicates an improving belief in the strength of the economy in 2012.

The labor market seems to be ever so slowly clawing its way toward recovery. In December, jobless claims were at their lowest level since 2008. The unemployment rate is proving stubbornly persistent and gains are often due to declines in the number of people participating in the labor force. The consensus is that unemployment will remain high in 2012 and that it will take a number of years to reduce the level significantly. Nonetheless, there has been consistent private sector job creation in the latter half of 2011. We can expect the persistence of unemployment to be a particularly contentious issue in the 2012 election year.

Housing is an industry with long business cycles. Typical regional housing recessions have taken anywhere from three to five years to find their bottom. The national housing recession has behaved similarly in that it has bounced along a bottom for the past two years. While prices are declining again to new lows, affordability is rising dramatically due to a combination of house price deflation along with rock-bottom mortgage interest rates. Adjusting for inflation, this has been a “lost decade for housing as prices are the same as at the beginning of the millennium.

The time is right in 2012 for prices to begin growing again and housing affordability will put a floor under any further significant declines in 2012. The spring and summer buying season in 2012 will be watched very closely for positive signs of demand.

Most housing statistics basically moved sideways in the latter part of 2011. Builder sentiment is improving ever so slowly, but remains at very low levels. Housing starts are also increasing, driven mostly by multifamily starts. Even single-family housing starts began increasing at the end of 2011. Both single family starts and permits rose at an annualized pace of 15 percent over the six months ending in November 2011. Existing home sales also started to trend upward at the end of 2011, and were 12 percent higher in November 2011 compared to January 2011. 

Putting all of these statistics together indicates there is a very long way to go and that the housing market is likely to sustain these trends in 2012. While we cannot say with a high degree of certainty what 2012 has in store for us, indications based on the latter part of 2011 are that both the broad economy and the housing market are moving toward positive growth in 2012. However, some impediments do exist including slower global economic growth, a recession in Europe, and fiscal and political uncertainty in the U.S. Taking these facts and trends together, we are bullish on the prospect of improving economic performance in 2012 from 2011.

Article Source: http://rismedia.com/2012-01-22/finding-the-positives-in-economic-and-housing-conditions-in-2012/

Summary

As 2011 came to a close, East Atlanta continued to see a challenging market for sellers and a strong buyer’s market. There are many factors affecting the change in prices and market activity. Let’s take a closer look, because there really are strong dynamics affecting the area.

A Look At The Numbers

The significant price drop seen in East Atlanta late in 2010 (after the tax credit) seems to have stabilized somewhat in 2011. While this chart shows another significant drop in the median home price in 2011, there are certain factors that may be contributing to this trend:

The total number of homes sold in the last quarter of 2011 was up significantly over the last quarter of 2010. This makes perfect sense as we saw very slow buyer activity the last half of 2010, after the tax credit. Buyer activity appears to have picked up, which is very good news. We see that the total sales overall for the year were up slightly as well.

However, if we look at the prices, they are actually down fairly significantly in 2011 over 2010. One reason for this is that there were 3 home sales that were very high for the neighborhood early in 2010 (two homes sold at $387K and one at $425K). Looking at 2011, the highest sale was $320K and after that, prices dropped down under $300K. So, when we’re looking at a fairly small number of home sales, a few strong sales can skew the numbers.

Another factor that can affect the median price figure is on the lower end of the price range. I think it’s important to look at the number of sales under $100K. This isn’t a scientific number, but I think it’s a good indicator of how much “investor” activity is happening in our market. We can see that in 2011, the number of home sales under $100K was up 40%. That’s a pretty staggering statistic. Most of these sales are to investors – buyers who are either purchasing them to hold as rental properties, or are renovating them for resale.

While it’s difficult to demonstrate with factual numbers, it makes sense that the general price change in the neighborhood has a trickledown effect. If the retail prices of homes are down, the investors must get a lower price on the purchase of the investment property to be able to make a profit. So, the prices of the lower priced properties would naturally decrease.

A Look at the Numbers Continued…

Let’s take a closer look at the sales of homes in the last quarter to get an idea of what is selling:

Not surprising, there are more sales of 3BR/2BA homes than 2BR/1BA. In fact, it is becoming very difficult to sell a 2BR/1BA home at all if you’re a homeowner that bought in the last 7-10 years. This is because the prices of 3BR/2BA homes have dropped enough that they are certainly affordable for first time buyers. The primary market for 2BR/1BA homes is investors – again, they are either going to hold them as rental properties or renovate them. And, the price has to be very low for an investor to do a larger renovation to turn a 2BR/1BA into a large enough home that it will easily resell. One note here: even though this chart shows that 4 of the 5 sales were “Traditional/Homeowner”, only 2 of those are what I would consider retail sales to an owner occupant. The others, even though they weren’t a foreclosure, were indeed “fixer upper” homes. Hence, the incredibly low median price of $35,000.

When we look closer at 3BR/2BA homes, this is where we see most of the activity for sales to owner occupants. Of the 16 sales, half were either investor/renovations or new construction. And, nearly half the sales were short sales or foreclosures. There is quite a price range here, indicating that there are still quite a few sales of the lower priced homes. Anecdotally, I can say that the investors I work with are typically looking for homes that already have big square footage and are 3BR/2BA. So, while more of these home sales are “retail”, many of them are also going to be fixer-upper properties. That does bring the median price down a bit.

Conclusion

It looks like we’ll have another challenging year in 2012, but I do feel very optimistic that we are in a much better position to help our sellers with more options. At Red Robin, we know what the competition is and how to get a house sold. And, we work closely with a fantastic attorney who specializes in short sales. Additionally, we are now offering full service rental property management to meet the needs of our clients. While many other realtors have gotten out of the market because of its challenges, Red Robin Group is committed to the neighborhood and to helping homeowners as well as guiding homebuyers.

We’re all in this crazy market together and we’ll continue to keep you updated!

Article by: Mary Umberger for Inman News

Don’t get Steve Somogyi wrong. He doesn’t hate all brass finishes — just the really shiny, yellow-toned stuff that he thinks screams “Cheap!” when homebuyers notice it in light fixtures, switch plates, doorknobs, etc.

That brass tone was fashionable a couple of decades ago, but its day is done and it has to go if it’s in a house you’re trying to sell, according to Somogyi, a real estate agent and interior designer.

In prepping a small house for the market recently, he switched out every single brass light fixture, switch plate, door hinge and knob for ones with an oil-rubbed bronze finish that’s a very dark brown.

By buying the replacements from a big-box store and a website specializing in closeouts, the homeowner spent $300 to $400 for materials, he estimated, and a contractor/installer made the changes in a day.

In a larger home, such changes might be too complex or expensive to do throughout, but at the very least, sellers should take a hard look at the front-door hardware that greets potential buyers, he said.

“I spent a lot of the money on the door hardware in that house because I do believe that your buyer knows within a few seconds whether they’re going to buy,” Somogyi said. “When you feel an expensive door handle vs. a cheap handle, you can feel the difference.

“I try to sell an emotional experience, that the place has been loved,” said Somogyi, an agent for the North Clybourn Group brokerage in Chicago. “That energy comes out.”

Although he’s a fan of dark-toned finishes (and certain antique golds), Somogyi said the general homebuying public continues to accept the recently popular satin-nickel tones as being “up to date” — though he suspects an appetite is brewing for the next big color.

“Lighting fixture (and hardware) finishes have certainly trended away from polished brass over the years,” said Jody De Vine, director of marketing for Sea Gull Lighting in Riverside, N.J.

We’ve seen more transitional styling and finishes that cross over between traditional and modern. This became quite evident in the use of polished and brushed nickel.”

De Vine said chrome finishes have gained popularity as a “clean” style, and that dark browns and iron-blacks come across as cozy and work well in updating traditional styling. Those browns and blacks also seem to be a popular choice when trying to deformalize some rooms, she said.

Somogyi said not to overlook hardware details because buyers notice them.

“Those switch plates and outlet covers that have crusty paint on them? They only take a minute or two to switch out,” he said.

And if you have recessed can-lights in ceilings, take a look at the “surround,” or collar, around the openings, he said. “Over time they get to be a yellow-y color that stamps them as being dated, dreary or old. I’ve seen a million of these.”

Article Source: http://www.inman.com/buyers-sellers/columnists/maryumberger/those-brass-light-fixtures-send-a-message-buyers-c-h-e-a-p?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+inmannews+%28Inman+News+-+Headlines%29

Article by: Josh Garskof for CNNMoney

(MONEY Magazine) — You don’t have to be underwater on your mortgage to feel trapped in your home.

Now may be a less than ideal time to put a house on the market or to take on big debt — icing your plans to trade up or build an addition anytime soon. But that doesn’t mean you’re stuck living in an uncomfortable home.

For a few hundred to a few thousand dollars, you can make your place “live” bigger without actually making it bigger, says architect Sarah Susanka, a small-space specialist and author of “Not So Big Remodeling.”

Call it thinking inside the box; here are nine creative solutions for cramped homes.

1. Multitask the dining room …

Cost: $500 to $2,000

If you have an eat-in kitchen, your dining room is probably used for special occasions only.

“Why have a prime spot sit vacant except for two or three holidays a year?” says Susanka.

Use it every day as an office or homework room without giving up dinner-party capabilities. Install doors ($300 to $500 each, with labor); add shelves or a cabinet for supplies; and invest in fitted pads to protect the tabletop.

For more flexibility, try a table like homedecorator.com’s $629 Mission Table Cabinet, a sideboard that — amazingly — telescopes into a full-size dining table.

2. … and the guest room

Cost: $100 to $3,000

Stop dedicating a whole room to infrequent out-of-town visitors.

With a decent air mattress, futon, or pull-out couch, you can lose the spare bed and use the room for day-to-day needs. (If you go with an air mattress, make sure to choose one with a built-in reversible motor to simplify the inflating and deflating.)

Add furniture, and what was only a guest room can double as a media or game room or home office.

3. Add a powder room

Cost: $3,000 to $6,000

Adding a first-floor powder room is simple if you have an unfinished basement or crawlspace for running the new pipes. Look for an existing room — a coat closet, say — and you won’t have to build walls.

To save more, forgo the tile. The minimum space required by code is typically 2½ by 4½ feet, but you can often get an exemption to go even smaller.

4. Build a home office closet

Cost: $100 to $3,000

If your family is already bursting the seams of your abode, a home office might seem out of the question. But every household needs at least a small desk for paying bills and to anchor a wireless Internet system — and you can often fit it all in a closet or armoire.

At its simplest, all you need are five or six deep, sturdy shelves made from wood or a composite product, which can total less than $40 at a home center. In a closet, set the lowest shelf at 30 inches high so you can wheel up a chair.

5. Bring the laundry upstairs

Cost: $5,000 to $7,000

Hiking up and down the stairs with laundry is enough to make anyone wish she could trade up. Instead, just move the machines.

Today’s full-size high-efficiency washers and dryers are all designed to stack. You can steal the space — a little more than four square feet — from a closet, hallway, or nook.

You’ll need to run new pipes and wiring, so being near an existing bathroom helps keep costs down, says Raleigh, N.C., architect Tina Govan. Make sure to include a drain pan to collect overflows or spills.

6. Open the floor plan

Cost: $2,000 to $4,000

A choppy layout of undersize rooms can make any house feel claustrophobic.

“People like the look of older homes, but not the way they function,” says Seattle architect Thomas Lawrence.

To open your floor plan without major expense, remove doors from rooms that don’t need them. Interior walls can come out for $2,000 to $4,000, unless they support the building or contain pipes — in which case a window or pass-through may be a more feasible solution.

7. Use built-ins to replace a closet

Cost: $4,500 to $6,000

If you choose to eliminate a closet to expand or enhance your living space, create some built-ins to get back the lost storage. A run of four- to 10-inch-deep shelving along a wall has almost no effect on the size of a room, says Corvalis, Ore., architect Lori Stephens.

And it can handle many times the capacity of a closet. You might spend $4,000 removing the closet and another $2,000 on new built-in cabinetry, or just $500 if you use assemble-it-yourself home-center cabinetry, such as the Billy collection from Ikea.

8. Build a bump-out

Cost: $6,000 to $12,000

Another trick to expand a home without a full-blown addition is called a bump-out. You hang extra space off the side of the house, sort of like an oversize bay window.

Structurally, it can’t extend more than about three feet from the existing exterior wall, but it can run nearly the whole length of the building — enough space to add an eating area to your kitchen or a closet to your master bedroom suite.

Because there’s no foundation work, a bump-out costs about $150 a square foot — or just $100 if you can tuck it under an existing roof overhang.

9. Finish non-living spaces

Cost: $15,000 to $30,000

Converting a full-height basement or garage into living space gets you an addition at half price. You’ll need a floor, ceiling, walls and more, but no structural work, no foundation, and no roof, so it’ll cost $50 to $100 a square foot — vs. about $200 for a true addition.

Attics are fair game, too, but more complicated because you may need to add a stairway and probably extend the plumbing, heating, and cooling systems a flight up. Doing all that brings the cost to around $150 a square foot.

Article Source: http://money.cnn.com/2012/01/20/real_estate/home_remodeling.moneymag/index.htm

Article by: RISMedia

Low interest rates, as we all know, are making history. Last week, according to an article found on CNNMoney, “rates on both the 30-year and 15-year fixed loans fell to new records, at 3.89 percent and 3.16 percent, respectively, according to Freddie Mac.” The question, though, is how long will prospective buyers enjoy such low rates?

Even with these rates, sales are still sluggish, with the market flooded with family homes and investment properties. Doug Duncan, chief economist for Fannie Mae, suggests that “low and declining interest rates may cause homebuyers to hesitate: They may expect them to fall even further. On the other hand, rising rates, which often accompany an improving economy, can give potential homebuyers a reason to act—before rates and prices become less affordable.”

Potential buyers sitting on the fence waiting for the rates to go lower may be getting their reason to act: a recent action by Congress may be pushing those rates higher shortly. According to CNNMoney, “to pay for the extension of payroll tax cuts, Congress mandated an increase in fees for Fannie Mae and Freddie Mac loans. That could mean an increase in upfront costs for borrowers of about half a point, starting April 1. The new fee would add $500 for every $100,000 in principal.” Instead of an additional upfront fee, “borrowers could pay the fee as a higher interest rate, [adding] an additional one-eighth of a point to their rate,” according to Keith Gumbinger of HSH Associates. That amount might seem inconsequential, but when added to a $250,000 mortgage, the mortgagee could be paying approximately $225 more per year.

Andrea Szlavik of Prudential Fox and Roach in Collegeville states that “with a market filled with desirable listings, interest rates at historic lows, and a threat of rising rates, prospective buyers would benefit from getting off the fence and jumping into the present day ‘buyers’ market.’”

Article Source: http://rismedia.com/2012-01-29/take-advantage-of-record-low-rates-before-they-rise/