Posts in category 'Real Estate'

If you were in or around Coweta County this summer, you probably heard about the rezoning of the Caldwell Tanks property, off of E Broad St, in downtown Newnan. While this rezoning was ultimately voted down first by the Newnan planning commission then the Newnan city council, it was "the talk of the town" all summer long. You may have seen the "City of homes, not apartments" yard signs. You may have even seen a few "Well actually, apartments are homes" yard signs as well. This was the polarizing topic of Newnan this year.

So, how did it all begin? Kurt Alexander, with the Residential Group, submitted an application, for the rezoning of more than 6 acres located on East Broad Street for the purposes of renovating the Caldwell Tanks Site. The Residential Group, an Atlanta-based developer, was hoping to create 340 luxury apartment homes and an accompanying parking deck there. The developer was seeking to rezone the property from Central Business District (CBD) to Mixed Use Deve...

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How excited everyone is to have this wonderful Memorial Day weekend to celebrate and enjoy family events at the beach, in the mountains or just at home in the backyard. Cookouts are planned with family and friends. However, we must all pause to remember those who gave their all that we may enjoy times such as this, as free citizens of this great country. We are all in debt to those brave citizen soldiers who came before us. Their sacrifice make all of this possible.

Have a great Memorial Day, but take a minute to salute old Glory, our Flag. We are so lucky and blessed.

Why Is Newnan Called the "City of Homes"?

Have you ever wondered why Newnan is called the "City of Homes"? Is it because of the number of beautiful antebellum homes inside the city limits? Yes, but there is more to the story.

In the early 1800's, the western part of Georgia was still Indian territory. The Creek Indians, named by the Scotch-Irish settlers because of the area's numerous small creeks, inhabited the area from the Ocmulgee River to the Chattahoochee River and were led by a chief named General William McIntosh (ci.newnan.ga.us)

During the 1820's, the Creeks ceded their land to the State of Georgia and five counties, including Coweta, were formed. Coweta County, named for the Cowetas or Lower Creek Indians, was officially created by Legislative Acts of June 9, 1825 an...

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One of the most common questions I receive is what happens if we have a low appraisal? Most real estate contracts are contingent upon the property appraising for the sales price. The appraisal is ordered by the lender but typically paid for by the buyer, unless negotiated otherwise. A low appraisal can be common in a hot market where home values are rising faster than the comparable sales can keep up. The good news is that a low appraisal does not mean the deal is over. In fact, we are able to work out most low appraisals.

One option you have is to appeal the appraisal. This is when you need to lean on your Realtor to find suitable comparable sales that will support your contract price. Appraisers can make mistakes and overlook sales. Make sure you or your Realtor look at off-market sales and not just transactions on the local MLS. Once you have some transactions that you think will support the value, the buyer's lender will send these to the appraiser to see if they warrant...

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Tax-Free Exchange for Dummies

You probably have heard of tax-free exchanges or maybe you have completed one yourself. If you are a real estate investor and you are not using 1031 Tax-free exchanges, you certainly should be. With a 1031 exchange, you are able to defer paying taxes on the sale of a property. If you reinvest the proceeds in a new property, this is considered an "exchange" rather than a sale. This will allow you to avoid a large capital gains tax.

The legislation and "rules" for tax-free exchanges are constantly changing so it is important to stay up to date with the latest changes. As it stands now, both properties involved must be investment properties, whether you intend to lease the new property or flip the home for profit. For example, you cannot sell an investment home, then put the profit into a property that you intend to live in yourself, and avoid taxes. Also, the home or property you are buying must be equal to or worth...

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