Posts with tag 'COVID'
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Closing Time
Closing Time
In real estate, the closing is the grand finale of a transaction. Most closings run smoothly. Unfortunately, some closings do not. The following paragraphs contain information that will enable you to have a smooth closing whether buying or selling a property.
If the real estate purchase involves a loan, the lender must send the borrower the closing disclosure at least three days before closing. This is required by law. The closing disclosure is a from that discloses loan terms, fees, closing costs, the buyer's projected monthly payments, etc. It is essential that a buyer receives this form three days before closing to close on time. If the lender asks the borrower for documents to complete their loan approval, time is of the essence for the borrower to send these documents to prevent a delay in closing.
23
Thanksgiving 2020
Thanksgiving 2020
What a strange and trying year 2020 has been! However, there are so many things for which I am thankful!
Here is my list for Thanksgiving, not in any real order:
- My Family. As of now, all are well. Much better situation than 2019. We are so blessed. I am so very proud of all of my children and grandchildren. Each one has special gifts.
- My Friends. They have all been so kind and supportive of me and my family. Newnan is a very special place, and we are lucky to live here.
- My Business Associates. We have hung in there; and, have had one of our best real estate sales years ever. That is amazing with all the headwinds we have faced in 2020. Our agents and administrative assistants...
11
VETERAN'S DAY 2020
VETERANS DAY 2020
On every Veterans Day, I immediately think of my Dad. He was and is my hero, and he was the founder and inspiration behind our company which he began in 1948.
After graduating from Emory University in 1943, Lindsey Barron joined the Navy and went into training on the Northwestern University Campus in Chicago at the Navy Pier.
His ship was built in Indiana and was named LST Number 587. They rode it down the Mississippi River and through the Panama Canal into the Pacific Ocean and into the war there. Their job was to pick-up Marines and deliver them onto the beaches on islands that became household names.
My Dad was an ensign on the LST and was a gunnery officer in charge of a gun used to protect the ship. He mentioned that one day they received orders to get up at 4:00 a.m.,...
5
The Real Estate Listing Inventory "Problem" In Coweta County
The Real Estate Listing Inventory "Problem" In Coweta County
As of Monday, October 26th, there are only 458 single family detached homes listed for sale homes in Coweta County in the Georgia Multiple Listing Service (GAMLS). This is the lowest number that I have seen in 14 years of being a Realtor. When I first started in 2006, it was normal to see 2,500 listings for sale on the GAMLS in Coweta County. The local real estate market has an inventory problem and homeowners are reaping the benefits.
In a market of low supply and high demand, prices will go up. We are seeing this before our very eyes here in Coweta County. I recently listed a remodeled home in Sharpsburg for $215,000. My sellers received 21 offers in three days, as well as four back up offers. All of the offers were over list price as buyers and their agents were alerted that the sellers received multiple offers. The demand for housing, particularly in t...
21
Contingency Contracts & Kick-Out Clauses in Real Estate
Contingency Contracts & Kick-Out Clauses in Real Estate
Contingencies are a normal part of real estate contracts. Realtors typically see contingencies based on the buyer's loan being approved, as well as the property appraising. However, real estate agents are seeing more and more purchase and sale agreements contingent upon the buyer's current home selling. This can be a very stressful task, to time the sale of a buyer's current home with the sale of their new home.
In large part this increase, in contingency contracts, is due to Coweta County having such a strong real estate market. People are hesitant to list their home for sale before looking for a new home, because properties are selling so quickly. It would not be a good idea to sell your home without having anywhere to go. Many buyers are identifying a home to purchase first then listing their home second.
A contingency contract hurts your negotiation power. Contingency buyers a...