Posts with tag 'Senior Living'

The "Slow Season" of Real Estate

The Holiday Season is a time for being with your family and friends and celebrating. You would think real estate is the furthest thing from someone's mind. It is not uncommon, in our business, for a homeowner to take their listing off for the holidays or wait to list a property until after the first of the year. The general opinion is that buyers will not be focused on a home search around the holidays. Most corporations will not relocate an employee this close to the end of the year either. Many people believe that properties take a longer time to sell and average sale prices drop, during the holiday season, but is that true?

The spring time is considered our busiest time in real estate...

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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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Spring Selling Season Continues

The spring time is the best time to sell your home. More homes are sold from, the spring time to the fall, than any other time of the year (per GAMLS). Real estate correlates with both the weather and school year. Buyers prefer to look at homes when the weather is nice. Families prefer to move their families once the school year is over. Children are already out of school then and do not have to change schools mid-year. The last day of school for Coweta County, in 2018, is May 25^th. When considering the average market time to sell, a 30-60 day closing process, its best to list in the spring to accomplish a late spring or summer move.

The first day of spring, officially, began on March 20^th. As a Realtor, we have seen activity pick up tremendously the last two months. Home owners have listed their homes for this busy time and contacted real estate agents for assistance in pricing and market...

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Industrial Real Estate Update – Orchard Hills & More

The local real estate market, as a whole, is booming. Industrial real estate development, in Coweta County, is especially strong. One of the largest projects is the development where Orchard Hills is on Hwy 16, near Gordon Rd. This property was once Orchard Hills Golf Course. I learned to play golf at Orchard Hills and have many fond memories out there. That being said, this development is great for jobs and will have a huge economic impact on Coweta.

The Orchard Hills Business Park project is being managed by the Meadows Development Corporation. According to the Orchard Hills Business Park website, they have developed over 2,000 acres of major office, industrial and business park properties. The Orchard Hills development will take place on 281 acres. The site plan can be accessed on their website (orchardhillsbusinesspark.com). The plan includes a 1,000,000 square foot sq ft bu...

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