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        <title>Atlanta Real Estate Blog</title>
        <link>http://www.realsourcebrokers.com/blog/buying-atlanta-real-estate/</link>
        <description>Atlanta Real Estate Blog - a complete Atlanta Home Guide helping local buyers, sellers and investors make informed decisions through insightful market news and analysis.  Because we focus specifically on the eclectic Intown Neighborhoods (Candler Par</description>
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            <guid>http://www.realsourcebrokers.com/blog/how-to-lease-purchase-your-home.html</guid>
            <link>http://www.realsourcebrokers.com/blog/how-to-lease-purchase-your-home.html</link>
            <author>joshua@thekeenteam.com (Joshua Keen)</author>
            <title>How to Lease Purchase Your Home</title>
            <description> <![CDATA[ 
Over the last few months I've had a number of past clients ask me whether a "lease purchase" would be viable to help them sell their home. Though it's not right for everyone ... it can be a win-win real estate deal, and it can help solve a serious problem for today's frustrated sellers.


Here's how it works:


In its simplest form, a lease-purchase agreement is nothing more than a written contract to purchase real estate over an extended period of time, typically not exceeding 36 months. It is usually coupled with an agreement to allow the purchaser to occupy the house and pay rent on it while he is completing the purchase.


In contrast, a lease-option agreement is primarily an agreement to rent real estate. That agreement contains a provision granting the renter the option of purchasing the real estate at some point in the future if he so chooses.


Here's why it's working today:


Traditional lenders have tightened underwriting guidelines and raised minimum credit standards, and there are lots of first-time buyers who have been pushed out of today's buying market. A lease containing an option to purchase may give the buyer enough time to get qualified and make the purchase he or she wants.


In today's market, some sellers are willing to compromise on a quick sale in order to get some revenue coming in to help cover the mortgage payment.


Typically, a lease-purchase agreement includes these features:


• A complete rental agreement outlines the relationship between the resident and the owner. This can be the same rental agreement that you might use if you were simply renting for a specific term, then intending to vacate.


• If this is a lease-purchase, there will be a simultaneous contract for the purchase of the property, specifying the price, the "on or before" closing date, and the other terms and conditions of the sale. In this contract, a non-refundable "down payment" is often made from buyer to seller. This down payment is usually applied toward the purchase price.


• If, instead, this is a lease-option, then there may or may not be any "down payment," and it may or may not be refundable, depending on the agreement. As an alternative, the lease-option agreement may specify a more traditional (and refundable) security deposit.


• A common feature of almost all these agreements is a "rent to own" provision. This clause specifies that some portion of each rental payment shall accrue toward a reduction in the purchase price of the property, even if that price has yet to be determined.


A small provision might be a monthly credit of $100, to be accumulated by the owner for use as a credit against the purchase price of the property. A more generous offer might be a credit of $400 per month, allowing the renter to build a sizeable down payment of almost $5,000 for each year of rental.


I have even heard of sellers so highly motivated to cause a sale of their home that they offered a credit of 100 percent of all rents paid as a credit against the purchase price. Obviously, a seller in this category would need sufficient equity in the property to cover such a generous offset. But it would have the further effect of almost guaranteeing an eventual sale. What smart buyer would walk away from a $24,000 credit after two years of renting?


• Another typical feature of these types of contracts is a provision asking the renter/purchaser to inspect the house as they move in and agree to accept it in "as is" condition now. This is to prevent the renter from damaging the house, then asking the seller to make repairs prior to the sale.


• Additionally, the agreement typically also makes the renter responsible for all repairs during the life of the lease and until the purchase occurs. The idea here is that since the buyer is going to buy the house, he can take on the responsibility for upkeep now. However, this provision may not be enforceable under Georgia law, which prevents the owner of residential rentals from transferring the responsibility to repair. I'd better leave that one to the attorneys to sort out.
 ]]> </description>
            <pubDate>Sun, 26 Feb 2012 16:09:33 -0500</pubDate>
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            <guid>http://www.realsourcebrokers.com/blog/metro-atlanta-luxury-short-sales.html</guid>
            <link>http://www.realsourcebrokers.com/blog/metro-atlanta-luxury-short-sales.html</link>
            <author>joshua@thekeenteam.com (Joshua Keen)</author>
            <title>Metro Atlanta Luxury Short Sales</title>
            <description> <![CDATA[ 
A quick look at the short sale market reveals there are several homes in the $1,000,000 plus price range currently listed as potential short sales.  From Luxury Estates to Penthouse Condominiums -- there's a little something for everyone.  And an excellent opportunity for buyers to negotiate deep, deep discounts on preforeclosure listings.  


#atlanta-luxury-short-sales#
 ]]> </description>
            <pubDate>Sat, 14 Jan 2012 17:11:33 -0500</pubDate>
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            <guid>http://www.realsourcebrokers.com/blog/atlanta-real-estate-makes-forbes-best-buy-list.html</guid>
            <link>http://www.realsourcebrokers.com/blog/atlanta-real-estate-makes-forbes-best-buy-list.html</link>
            <author>joshua@thekeenteam.com (Joshua Keen)</author>
            <title>Atlanta Real Estate Makes Forbes "Best Buy" List</title>
            <description> <![CDATA[ 
Forbes recently did a market study of the "Best Cities to Buy A Home" and Atlanta ranked #13 on the list. 


To determine which cities showcase the best real estate deals, Forbes examined three relevant sets of data from the March 2009 RPX Monthly Housing Market Report.  The Housing Report examines key market data in 25 of the countries most populous metropolitan statistical areas (MSAs). 


How Was It Done? 


The first step was done by looking at the number of ZIP codes where a quarter (25%) of the areas sales occured.  This helped to determine whether sales are evenly distributed across the Metro area or simply confined to a dense geographic area.  The more even the distribution of sales across the market, the better.


What they did next was examine price per square fluctuations to determine which markets maintained consistent "market value".   The higher and more consistent the market value (month over month) the better.


Third, they measured "transaction rates" in each of the 25 major metro areas to see which housing markets had the most buying demand.  The more activity the higher the rank.


Lastly, they scored each city by category, and then combined the scores to determine the final ranking.


Forbes ranked the Atlanta Real Estate market #13. 


Good news for buyers out there.
 ]]> </description>
            <pubDate>Tue, 30 Jun 2009 17:41:26 -0400</pubDate>
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            <guid>http://www.realsourcebrokers.com/blog/as-seen-on-tv.html</guid>
            <link>http://www.realsourcebrokers.com/blog/as-seen-on-tv.html</link>
            <author>joshua@thekeenteam.com (Joshua Keen)</author>
            <title>As Seen on TV</title>
            <description> <![CDATA[ 
When the number of factors coming into play in a phenomenological complex is too large scientific method in most cases fails. One need only think of the weather, in which case the prediction even for a few days ahead is impossible. - Albert Einstein

Predictions, Predictions, Predictions.&nbsp; Isn't that what got us into this mess in the first place?  
  ]]> </description>
            <pubDate>Thu, 11 Jun 2009 21:06:01 -0400</pubDate>
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            <guid>http://www.realsourcebrokers.com/blog/first-time-buyer-8000-credit.html</guid>
            <link>http://www.realsourcebrokers.com/blog/first-time-buyer-8000-credit.html</link>
            <author>joshua@thekeenteam.com (Joshua Keen)</author>
            <title>First Time Buyer $8000 Credit</title>
            <description> <![CDATA[ 
Buying Your First Atlanta Home?


Well...if you're not...maybe you should be.  Not only are mortgage rates at an all time low...homes are, in many cases, being sold for 2002/2003 prices.&nbsp; Oh...and let's not forget about FREE MONEY....up to $8,000 from the Federal Government and up to an additional $1,800 from the recently signed Georgia House Bill 261. 

That's a tax credit up to $9,800 if you're an Atlanta first time buyer.&nbsp; Just might be the smartest move you make this year...or any year for that matter. 
  ]]> </description>
            <pubDate>Wed, 13 May 2009 10:22:35 -0400</pubDate>
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            <guid>http://www.realsourcebrokers.com/blog/predictably-irrational.html</guid>
            <link>http://www.realsourcebrokers.com/blog/predictably-irrational.html</link>
            <author>joshua@thekeenteam.com (Joshua Keen)</author>
            <title>Predictably Irrational</title>
            <description> <![CDATA[   	
		
I just finished reading a book called &quot;Predictably Irrational&quot;, by Don Ariely. In it, the insightful Duke Univerysity professor unveils the hidden, irrational forces that shape our daily decision making.&nbsp; It's a great read 


There are a few interesting case studies in this book that can be
applied to real estate marketing and negotiations. Specifically, Chapter Seven (The High Price of Ownership) covers what is commonly referred to as &quot;The &quot;endowment effect&quot;.&nbsp; Simply put, &quot;the endowment effect&quot; means that when we own something, we begin to value it more than other people do.

The High Price of Real Estate Ownership

There are three fundamental &quot;quirks&quot; of human nature as it applies to real estate:



We fall in love with what we already have.&nbsp; Meaning, as sellers, we always place a higher value on our house than our potential buyer does simply because we've lived it in longer and we love it more than they do. &nbsp; 

We focus on what we might lose, rather than what we might gain.&nbsp; This is more true today than ever before. In today's real estate as Seller's we're lucky to get an offer much less a great offer within a few percentage points of our asking price.&nbsp; I've seen more Seller's lose a deal over a couple thousand dollars than ever before in my career.&nbsp; Why?&nbsp; Because their focus is on the loss of imaginary equity rather than the gain of a profitable sale. 

When thinking about selling something, we think about all the things you'll miss, rather than the hassles of ownership


We assume that other people will see the transaction from the same perspective as we do



Peculiarities of real esate ownership:



The more work you put into something, the more ownership you begin to feel for it.&nbsp; This is why your first home - that &quot;fixer upper&quot; you spent 3 years of non-stop weekend warrior-ing to make live-able - will always be your favorite home and the most difficult to part with. 

We can begin to feel ownership even before we own something.&nbsp; This is the one advantage that sellers have in any marketplace and why staging to appeal to the emotion of buyers is so important. 


So...how do you counteract these natural, human tendencies?&nbsp; In real
estate we must view all transactions as a non-owner.&nbsp; This can help bring the hidden, irrational tendencies to the surface so that we can deal with them in a more rational and calculated way.

Remember...selling real estate is simple.&nbsp;&nbsp;

Simple, but not easy.

We need to stay up on the current market and price it to get interest from buyers away from other competing homes.

We need to stage it so buyers get the maximum emotional impact when they walk through the front door.&nbsp; This is important because buyers buy not for analytical reasons, but because of how they feel in the home.

We need to market it to get qualified people through the front door.

Follow this simple 3 step process and I assure you that your decisions will quicly become Predicatably Rational :)

 
 ]]> </description>
            <pubDate>Fri, 02 Jan 2009 18:00:52 -0500</pubDate>
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            <guid>http://www.realsourcebrokers.com/blog/short-on-cash.html</guid>
            <link>http://www.realsourcebrokers.com/blog/short-on-cash.html</link>
            <author>joshua@thekeenteam.com (Joshua Keen)</author>
            <title>Short On Cash?</title>
            <description> <![CDATA[ 
Ask the Seller to Pay Closing Costs 

One way to help minimize up-front expenses when purchasing Atlanta Real Estate is to request the seller to pay some (or all) of your &quot;closing costs&quot;.&nbsp; If the seller is unwiling, one alternative is to do what is called &quot;rolling&quot; closing costs.&nbsp; In this scenario, you pay a higher a sales price for the home but the seller contributes the difference you pay by picking up the tab for your closing fees.&nbsp;&nbsp;

A good example of this would be if you needed $5,000 in closing costs for your $250,000 home, you could raise the price to $255,000&nbsp; - assuming the property will appraise for that value and your lender approves it...you then have the seller use the extra $5,000 to pay your cost to close the transaction.

If your short on cash this strategy can help you keep your money available. 
 ]]> </description>
            <pubDate>Sat, 06 Dec 2008 00:34:46 -0500</pubDate>
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            <guid>http://www.realsourcebrokers.com/blog/why-now-is-the-time-to-be-greedy.html</guid>
            <link>http://www.realsourcebrokers.com/blog/why-now-is-the-time-to-be-greedy.html</link>
            <author>joshua@thekeenteam.com (Joshua Keen)</author>
            <title>Why Now is the Time to be Greedy...</title>
            <description> <![CDATA[ 
&quot;Be fearful when others are greedy and greedy only when others are fearful.&quot;

- Warren Buffet (world's richest man)


 The question you have to ask yourself, as a Buyer in this current real estate market, is whether you want to get a great deal badly enough to take action in what can appear, on the surface, to be a very chaotic and scary marketplace.

Look, I'm not saying it's right for everyone but Buyers who understand the dynamics of supply and demand economics also understand there has not been a better time to buy real estate (or stocks in well run companies, for that matter) in our lifetime.&nbsp; It takes courage to take actions when most investors are running for the hills but I guarantee if you make smart decisions with your money now you'll come out way ahead in the long term.
 ]]> </description>
            <pubDate>Sun, 26 Oct 2008 12:12:11 -0400</pubDate>
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            <guid>http://www.realsourcebrokers.com/blog/market-update-the-importance-of-being-informed.html</guid>
            <link>http://www.realsourcebrokers.com/blog/market-update-the-importance-of-being-informed.html</link>
            <author>joshua@thekeenteam.com (Joshua Keen)</author>
            <title>Market Update - The Importance of Being Informed</title>
            <description> <![CDATA[ It's important to stay up on Atlanta Real Estate Market Trends.&nbsp; So much that every week I send ALL of my current sellers a detailed analysis of the current market in their specific area and competing value range.

If you don't know what's going on in the market...how are you supposed to know how to take advantage of it? ]]> </description>
            <pubDate>Fri, 15 Aug 2008 08:49:41 -0400</pubDate>
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            <guid>http://www.realsourcebrokers.com/blog/first-time-buyer-tax-break.html</guid>
            <link>http://www.realsourcebrokers.com/blog/first-time-buyer-tax-break.html</link>
            <author>joshua@thekeenteam.com (Joshua Keen)</author>
            <title>First Time Buyer Tax Break</title>
            <description> <![CDATA[ 
$7500 Tax Credit to 1st Time Buyers


You can read all about it here.

And don't forget to check into FAQ #16 while you're there.&nbsp; This tax credit has to be paid back when you sell the house or 15 years after collection - whichever comes first.

Nothing in life is free. ]]> </description>
            <pubDate>Mon, 04 Aug 2008 17:53:03 -0400</pubDate>
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