Coweta Fayette Real Estate & Newnan Homes for sale blog by Richard Weisser of Better Homes and Gardens Real Estate Metro Brokers

Ok some things are supposed to be good for you, some probably are, but what the heck are we drinking these days.

A coworker brought a health beverage to the office, so I was offered a taste and figured why not? The drink was a little thick, slightly thicker than tomato juice, and a little grainy, similar to Metamucil. It didn't taste bad, it was actually rather pleasant. It tasted of pomagranate, prune, and Acai berry.

But the surprise ingredient was revealed on the label: Shrimp and shrimp shells! "What, Sea Monkeys" exclaimed a friend at the office?

Yes indeedy, someone is putting those Sea Monkeys, we used to order from the comic books, to good use these days. Pour them in the water, let them hatch, scoop them up and guzzle them down with exotic fruits, all under the guise of better health.

What's next? Better guard the ant farm, they may be coming for it!

Richard Weisser, Broker, Associate Broker, Auctioneer, E-Pro, CE Instructor Era United Realty, Newnan Georgia, Coweta Fayette Real Estate, Inc. Serving Coweta, Fayette, Heard, Meriwether, South Fulton, Pike and Spalding Counties 770-827-6225, 770-683-8400 X364, 770-683-8401 (FAX) All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate, Inc.  Copyright 2003-2008.

"People try to put us down (Talkin' 'bout my Generation)

Just becuz we get around (Talkin' 'bout my Generation)" The Who

It really gripes me that you hear kids today talking about adults and their inability to master technology? And it maddens me when parents tell me how good their kids are with computers, and how smart they are. Well, some of it may be true. If you are having problems with any of the following, why not consult the nearest 13 year old!

1) Getting passwords to pornography sites.
2) Finding license keys for pirated software.
3) Obtaining credit card numbers and expiration dates.
4) Downloading themes or term papers.
5) Getting stolen music or movies for free.
6) Gettng cheats for games.

Oh yeah, ask the same kids how many planets there are or the identity of the current vice-president of the United States and you will get blank stares.

As for my generation, and the inability to use technology. No, we did not download porn or hack software or steal credit information with computers.

All we did was invent them!

Richard Weisser, Broker, Associate Broker, Auctioneer, E-Pro, CE Instructor Era United Realty, Newnan Georgia, Coweta Fayette Real Estate, Inc. Serving Coweta, Fayette, Heard, Meriwether, South Fulton, Pike and Spalding Counties 770-827-6225, 770-683-8400 X364, 770-683-8401 (FAX) All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate, Inc.  Copyright 2003-2008.

Real estate auctions are everywhere these days. And with more and more properties being offered at auction, it is imperative that you know the ropes before venturing into the realm of competitive bidding. Here are some interesting facts about real estate auction:

1) Not all auctions are due to distress situations. As a matter of fact, the best auction properties are just the opposite. The properties that do well at auctions are the ones that everyone wants ... the lake lot on the point, the corner commercial lot in the busy area, the mountain house with the 360 degree view. These, properly advertised, can often pull more than market.

2) Not all properties sold at auction on the courthouse steps are lien free. Many property's have liens, such as federal tax liens which may force you to hold the property for up to 90 days until the tax issues are resolved.

3) Most properties can be purchased prior to auction. The reason you would want to do this is simple: TERMS. You can negotiate all terms prior to an auction, but the auction itself is bound by the terms and conditions of the auction. If you need special considerations, try to make your best deal up-front.

4) Very few real estate auctions are absolute. Most have a reserve and are sold subject to seller's confirmation. If you are planning to low-ball, be aware of what kind of auction it is and you will avoid a lot of wated time.

5) The auctioneer is in charge. He or she may pause, wait, encourage, suggest or do anything else to encourage more bidding. I once paused during an auction to give a bidder a moment to "think about it." The person with the current high bid was enraged, saying I had to proceed with the call. Sorry, I work for the seller, not the buyer, and it is MY OBLIGATION to get the highest bid possible.

I'll be posting more auction tips in the future, so please subscribe to my Blog!

C 2008 Coweta Fayette Real Estate, Inc.

I usually do my homework. When I set up a listing appointment, I always pull all of the deeds and tax records on the subject property. First of all, I need to know who owns the property, and who is required to sign the listing. Second, I need to know how much is owed on the property. In Georgia, we do that by examining the "deed to secure debt," or security deed. You can pretty much determine an estimated payoff by the amount secured by the property, and the date it was executed.

But today I goofed. I missed a second mortgage in the amount of $29,000. I spent all morning preparing the presentation and the listing paperwork, loader the sign, and headed to the appointment. The presentation went by flawlessly. I sold the sellers on my marketing, and they insisted that they would sell if they could only walk away without losing any money. After doing my CMA, I thought we has $20,000 to play with, so I thought I was home free, even if we had to take an offer.

Then the seller dropped the second mortgage bomb, and my heart sank. I knew there was no way to sell their house in our slow Coweta County Georgia market for enough to clear both liens, let alone pay me. I was dead in the water, trying to decide how to extricate myself from the awkward situation. I offered them my best advice, hold the home for another few years, or work with a financial adviser to help them save enough money to sell.

On the ride home, I thought about how my error cost me 6 hours of work on a Saturday, that would have been better spent doing household chores or enjoying a break from work. Instead, I wasted my time and broke the hearts of a lovely young couple who were expecting to get a larger home for their growing family. Ah well, we live and learn and I am still learning after 24 years in this business!

C 2008 Coweta Fayette Real Estate, Inc.

If there is one absolute truth in life, it is that when given a choice, people will always choose that path of least resistance. It is human nature and unavoidable. And it should be an important consideration when you are making an offer on a short-sale, foreclosure, or REO property. People that work in institutions that are responsible for disposing of these inventories are like everyone else ... they have a lot of work to do and they do not like complications. So when making an offer on these properties, keep it simple.

1) Have the least amount of contingencies. Have your financing in place and make your offer all cash, or pay all cash and take a loan after closing. Do not make your offer conditioned on appraisal, study the market and price your offer accordingly.

2) Close as quickly as possible. Cash strapped financial institutions will always consider short time frames as advantageous.

3) Purchase "as-is, where-is" and base your bid accordingly. If you are unable to properly inspect a system or mechanical item, assume it is defective.

4) Never ask for closing costs or other items to be paid by the seller, figure those into your offer.

Here's where the human nature comes into play. What could be easier for the individual working at the bank than bottom-lining the offer price as the net price, and not have to follow up with inspections or appraisals, and get it off their desk quickly. Your offer will move to the top of the pile, with an excellent chance of success. Remember, an foreclosure or REO purchase is a simple business transaction, so keep the emotion out of it and you will succeed on your bids more often than not!

All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of ERA United Realty and Coweta Fayette Real Estate of ERA United Realty Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009.
Learn more about Coweta County and Fayette County Georgia Real Estate, and Lake West Point Lots.

When I started selling real estate in 1984, rarely was the term "buyer's agent" ever used. At that time, if a buyer wanted an agent, the buyer had to contract with and AGREE TO PAY the agent representing them. Cooperating agents were sub-agents of the listing agents, and represented the sellers.

All of this changed somewhere in the late 80's and early 90's. Buyers DEMANDED representation and in many cases, sued sub-agents for not disclosing their agency status. Consumer and civil rights groups demanded change, and indeed, every state adopted some kind of legal buyer agency to ensure that buyers would be represented in a transaction.

After 20 years, you would think that buyers would get the picture by now. After all of this change and reform, buyers call every day, refuse to sign a brokerage agreement, and insist on talking directly to the listing agent. Why? There is a perceived notion of saving by cutting out one of the brokers in the transaction. However, rarely is any savings realized, as the listing agent has no incentive to help the buyer get the best deal possible.

Seems like the more things change, the more they stay the same.

Richard Weisser, Broker, Associate Broker, Auctioneer, E-Pro, CE Instructor Era United Realty, Newnan Georgia, Coweta Fayette Real Estate, Inc. Serving Coweta, Fayette, Heard, Meriwether, South Fulton, Pike and Spalding Counties 770-827-6225, 770-683-8400 X364, 770-683-8401 (FAX) All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate, Inc.  Copyright 2003-2008.

Most agents don't understand the necessity of referring clients to other agents. It's one of the least utilized methods of generating commission revenue, yet it requires little or no significant effort. Referral could be defined as generating business from leads that you are unable to work yourself, either due to distance or your inability to handle more business. If your income from referrals is less than 20% of you total, you could easily benefit by beefing up your referral business.

But how do you handle potential referral opportunities in a way that ensures your best chance of success? Here are some of my suggestions:

1) You may only have one personal contact with your potential referral. Try to get as much information as you can, including all contact information, purchase preferences, whether or not pre-qualified and whether or not they have a property to sell. This could lead to a listing or a second referral.

2) Develop good relationships with top producing agents in other areas. It's always better to work with people you know and trust, and top producers usually have assistants and buyer's agents on their teams. They are much less likely to "drop the ball" with your referral, and usually have procedures in place to follow up on the work.

3) Have a follow-up system in place. Check the status of your referral regularly. It gently acts as a reminder that you have expectation of the agent handling your referral, and also will give you a good indication of whether or not you will be sending more referrals to the agent. If they act disinterested or confused, it might be better to seek someone else to handle your business.

4) Educate family and friends that live in other areas to keep an eye out for anyone that might be interested in buying or selling, and ask them to pass their names along to you. Remember to always send a small gift for the referral as soon as you get it, regardless of whether or not it closes. This will ensure that you are always on their minds when real estate pops up in a conversation.

Good luck with referral, and if you have anyone looking in the SW Atlanta, Newnan area pass them along. I'll be glad to take care of them!

A parable about time management:

Well. first of all, I had plenty of warning. A few months ago, when I tried to start my Toyota pickup, the starter clicked and nothing happened. A few more clicks, and it started, so I passed it off as a dying battery.  The next day, it clicked again, so I went to Wal-Mart and bought a battery, and as soon as I installed it, the click continued.

However, the truck always eventually started, and I even joked that one day, I would pay for my indifference. Of course, I was right. One cold morning, the truck started, but the starter did not disengage. I turned of the engine, and the starter churned away until I finally found a wrench and disconnected the battery. It took a while, and the unmistakable smell of ozone emanated from red hot wiring under the hood.

Had I not waited, I could have driven the truck up on ramps, and had a little clearance to crawl underneath to attempt to remove the starter. And since I had to disable the battery, the truck will not release from Park, so I have to fix it where it died. Outside, in the cold, on a slight downslope.

Not to mention, the starter is nearly impossible to see, let alone remove. I continued to squeeze under the truck, crooking my neck in a most uncomfortable position, and attempt to find the starter bolts by feeling for them, then attempting to work a wrench in there somehow. Of course, the tight clearance caused numerous cuts and scratched on my hands. My neck and shoulders started killing me, and all of a sudden, the onset of vertigo crippled me. I was dizzy and nauseated.

Fortunately, I found some narcotics prescribed for my torn biceps, (wonder if that's why my arm hurt breaking that bolt loose?) and now I am not in total agony. But the job is only half done, and I know I must eventually drag myself back under the truck, and attempt to get the job done. The dread is overwhelming me!

So what's the lesson here? Had I driven the truck to a mechanic the first time it clicked, I would have spared myself a lot of torture and injury, and I would have the use of the truck today. Mechanics certainly earn their money, and in hindsight, I would have been happy to pay to have a professional get my truck in running condition. After all, they have families to feed too, and it's not an easy job.

But I thought that I'd save a few bucks, and essentially forgot that a 50 something guy might have a problem dealing with something he doesn't do every day. I guess I learned from this experience. My time is too valuable to be spent doing tasks that I cannot perform efficiently!

Did I mention that the reason I tore my biceps was to save a $35 furniture delivery fee?

Visit us at Coweta Fayette Realty!

You may have noticed that all of these foreclosures and REO properties are not staying on the market very long. So I began to wonder, just who is buying all of these budget priced properties.

What didn't surprise me is that many of these properties are being gobbled up by investors seeking to enhance their rental property portfolios. And why not? At these prices, combined with favorable interest rates and increased demand for rental property, it's easy to achieve a positive cash flow on many of these bargains.

What does surprise me, is the number of these properties being purchased by individuals and families as their personal residences. Undaunted by lack of disclosures or warranties of any kind, and ready to roll up their sleeves and get to work on these fixxer-uppers with an eye towards lowering their cost of living expenses and at the same time discounting an investment vehicle for their future.

And what about the flippers? Well, in our market at least, short term flipping has become a risky venture. With so many properties on the market, folks are less likely to pay top dollar for cosmetic improvements. Better to buy and hold anyway, as the capital gains tax favors holding the property for at least a year!

So what's the bottom line? Call your real estate agent and buy, buy, buy! You'll be kicking yourself in five years if you miss this glorious opportunity to increase your net worth and provide for the future. Shop smart, stay informed, and have a great time scoping out the deals!

You can visit us online at Coweta Fayette Real Estate!

Is auction the solution in a slow real estate market? Many sellers think of auction as a possible solution for marketing their properties, and in many respects, they are correct. What they do not realize, is that the less robust the market, the less chance they have for a successful auction. Why?

The first reason, is that in a market flooded with foreclosures and REO properties, the terms and conditions of auction may not afford the best purchasing opportunity for the buyer. There are plenty of alternative properties available for purchase, allowing purchasers to negotiate both price AND terms!

Another reason is that sellers typically owe more on their properties than the potential high bid to be realized at auction, making it unlikely that a deal can be struck. Auction buyers these days are looking for bargains, and they know that if a particular deal doesn't work out, there will be plenty of other opportunities to secure a great buy.

And finally, to succeed at auction, your property must have attributes that make it unique, and provides a compelling reason to purchase it. For example, a property with an incredible view or one on a high traffic corner in a crowded business district. These properties can command competitive bidding by multiple prospective purchasers, and a good auctioneer can achieve a higher than market sale.

Before you list your property for auction, ask your auctioneer about your chances of success. A good auctioneer will guide you through the process, provide local knowledge, and assist you in deciding if auction is the right way to go. Ask questions, and do not proceed if anything diesn't seem quite right to you. Feel free to get several opinions from different companies, and choose the auctioneer that offers the best combination of knowledge and marketing resources.

Visit us online at Coweta Fayette Realty.