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

Is was an unusually busy weekend with quite a bit of activity. As a result, my Monday is fully scheduled out with housekeeping tasks that need to be completed today.

I often wonder what causes the “switch” in business to be thrown from “off” to “on.”

If I had to guess, I would say that there are three significant factors that contributed to the current floury of consumer interest:

1) Amazingly low interest rates. Rates are so low now, they are barely significant. In many cases, there is not enough mortgage interest being paid to even consider itemizing deductions on an income tax return. And since mortgages are long term notes, a buyer can fix mortgage expenses for years to come.

2)Decreasing inventory. InCowetaCountyGeorgia, we are at about one third of the number of listings compared with the peak months of available inventory. Less houses for sale equals more activity per listing. We are now down to a four month supply of homes.

3) More seller flexibility. After years of adapting to the buyer’s markets, sellers are now entrenched in the mindset of doing whatever it takes to get the house sold. Sellers that negotiate with an open mind and a realistic attitude towards buyer concessions are getting the deal done!

We still have a long way to go, but at least now there is some light at the end of the tunnel.

And we are ready to roll up our sleeves and get to work. Bring it on!

Through shadowed vales and sheltered coves
Blue serpents writhe ‘long graveled roads
Cold vernal surging streams of blue
To baptize fields with life anew!
                        (R Weisser 2012)

Climate is as much a part oaf any locale as any other attribute. Weather affects everything from industry to attitude, and especially lifestyle.

In Georgia, late Winter and early Spring offers cool nights and moderate to warm days.

It’s a great time of year to get outside and do yard chores and landscaping projects.

There are few annoying insects and still some time for plants to establish a good root system before the heat of Summer envelops the region.

I love observing Nature’s annual wake-up ritual. It is both invigoration and inspiring at the same time, and it’s a good kick in the pants to get up and GET GOING!

Which I will do after another cup of coffee … or two!

In Coweta County Georgia, we are starting to see some houses listed as short sales and REO and HUD sales for the SECOND time in the last few years.

How did this happen? Did we learn nothing from the past? Have year after year of buyer incentives and continued low down payments completely eroded the fundamental concept of ownership?

True ownership involves skin in the game. It is too easy to just walk away and there are fewer and fewer consequences with each passing month. And yet the clamoring continues for easing mortgage qualification requirements.

Leverage has toppled the market. The notion of only losing OPM has created economic chaos.

Call me simple-minded, but I will always feel that people will act more responsible when THEIR money is at risk.

The madness will not end until attitudes do as well.

One of the biggest obstacles I face every day as a real estate broker is potential buyers with excellent credit that do not have available cash for a down payment.

And while there are some opportunities for loans with little down, they are few and far between and some are property dependent which limits the available selection of homes.

However, setting money aside for a down payment may not be as hard as you might think. Saving money has long been associated with austerity but in fact there are ways to save with little or no change in lifestyle.

Sometimes it only takes a phone call to achieve dramatic savings results. Technology, security and cable services are often very negotiable, and you might be surprised at how much you can save.

A call to your insurance agent and some policy tweaking can save hundreds of dollars per year. It is always wise to have your coverage reviewed on a regular basis!

When was the last time that you visited your local library? You might be surprised at how much libraries have adapted to the times. Why buy when you can borrow?

Try visiting State Parks instead of theme parks. You can literally save thousands of vacation dollars by utilizing public facilities instead of private ones. And you might just learn something in the process!

There are hundreds of ways to save if you are really committed to the endeavor. Most families could save enough for an FHA down payment in less than a year.

The key is to get started and just do it!

On purple-painted pavement fleets
That sail the cities’ churning streets
And plunge through swirling, costumed coils
Of marauders bent on sharing the spoils.
                             (R Weisser 2012) 

The concept of delineating behavior by a self-imposed timeline has always fascinated me.

As Fat Tuesday and Ash Wednesday approach, the centuries old tradition of Carnival will be observed in many places across the globe. It’s a last minute bout of unfettered partying before the austerity of Lent demands a more subdued demeanor.

I have always preferred moderation to these wild swings of revelry and penance. And while I am not against anyone having a good time and getting grabbing all of the enjoyment out of life that they can, it’s just not for me!

I prefer the even keel and the ordinary.

But life sure would be boring if everyone was like me!

When I was a young man, I rode the crest of technology. It was an expensive ride. Having the latest and greatest of anything was a very expensive proposition.

As I have become older and hopefully wiser, I realize that although the trough arrives a little bit later, it still gets there just as fast! And life in the trough of technology costs a fraction of this week’s hot item!

Impulse buying has long been both the marketer’s ploy and the scourge of the consumer. A good marketer creates demand where there is none.

When I think of the number of things that we say we “couldn’t live without” I am reminded that for the first part of my life we did just that and survived very nicely, thank you very much.

As for all of my “time savers,” I work more hours a week now that I ever have. That is an inescapable truth.

These days, I let the demand for a gadget settle down before I make a purchase decision.

And more often than not I find out that I wasn’t missing out on anything in the interim!

The current real estate market has caused a paradigm shift in the way buyers think about real estate.

The old notion that “more is better” has given way to “less is best.” Buyers simply do not want to put a lot of money into a house during a declining market.

Builders in Coweta County Georgia has responded to consumers by purchasing  existing lots at fire sale prices, and by downgrading the product finishing to make the price as attractive as possible.

What was once a stone or tile shower is now a one piece fiberglass unit. Where there was once crown molding, now there is none. Carpet has crept over most of the space that at one tome would have been a hardwood floor.

It makes you wonder if perhaps we had come to the point where we expected too much in the first place.

Perhaps simpler is better. At least it is more affordable, that’s for sure!

It is human nature to assign blame when things do no go as expected. After all, it is much more comfortable to rationalize a flaw in one’s thinking than it is accept a different reality.

But if a house is properly marketed, and has had multiple showings with no offers, the market is speaking loud and clear. At that point, a seller can choose to ignore the message and continue to pursue the exercise in futility.

Even more to the point is this: if there have not been any offers following a significant number of showings then the chasm between true market value and price is so wide that a minor correction will have little or no effect.

The attitude “I really don’t need to sell” is nearly always a self-fulfilling prophecy.

Because there are plenty of others that DO need to sell.

And they are pricing their properties appropriately.

Under common law, a “leasehold” interest was often used to convey a property for a specific period of time.

Often used in commercial real estate, the leasehold is seldom used in the Georgia residential arena anymore. What is commonly referred to these days as a “lease” is actually a “usufruct,” which is a right to occupy and use the property without the conveyance of title.

A true lease is an “estate in land,” in which some form of title actually passes for the duration of the term. It is usually recorded. A leasehold interest can be bought, sold, bequeathed and inherited.

Also, the term of the leasehold conveyance is generally longer than the typical rental. Twenty years is very common in the commercial world on land leases, but the term could be as long as a hundred or even a thousand years!

So has the time come for the bargain and sale of leasehold interests in houses? For would-be buyers that plan on staying in a house for only five years and a seller trying to wait out the current market, it might be just the thing!

Disclaimer: This article is the opinion of the writer and is not intended to be interpreted as legal advice. Always consult with an attorney before participating in any real estate transaction.

I watched the Grammy Awards Show last night. It is always interesting for me to see how un-hip I really am. Most of the nominees had names that I had never even heard before.

Of course, the names that I DID recognize were either honorees receiving tributes, or were among those that passed away during the previous year and were memorialized.

Music is generational. So is culture and style. And apparently one’s attitude towards owning real estate is too!

When I was a young man just starting to make my way in the world, the notion of owning a home was not a business decision. It was a rite of passage.

Buying your first home back then was a testimonial to the fact that you had attained full and complete status of adulthood. Owning a home was a statement that you had finally “made it!”

Now I see more and more offspring in their thirties still living at “home” with their parents. Some may stray into a “rental relationship” but eventually will make their way back to the nest.

Home ownership is no longer endemic to our culture. It is as foreign to some as those strange names of musical “stars” that I did not recognize.

Mowing the lawn and weekend barbeques have given way to extreme sports and video games. Our expectations as a society have changed.

I’m not saying that things were better back in the day. I’m just saying that it was different.

And we are all the products of our times!

Now turn and face the fierce onslaught
And brace for battle ever fought
‘Tis Time that charges from beyond
The battle’s lost, now yield the ground!

                         (R Weisser 2012)

It’s hard to believe that it’s already the middle of February. It seems like we just celebrated the New Year.

2012 is whizzing on past us in a blur, and it seems that time is always leaving me behind. I have so much that needs to be done, and precious little time to do it.

When I was a young man, it felt like I had plenty of spare time to actually step away and enjoy life. Weekends would find me at the beach in Florida or camping in the mountains of North Georgia. Or I would sit down with my watercolors and paint.

This seems to defy logic, because when one is young, one has more yet to accomplish. There are more dreams to fulfill, more knowledge to gain, and more wisdom to attain.

Perhaps it is the ignorance of youth, but more than likely it’s all about attitude.

Because regardless of age and God-willing, we have the same amount of time allocated to us and it is still up to us to decide how to use it.

And if I get a minute, I’ll write a list of the things that I still want to do!

In the world of real estate sales, record low interest rates for borrowers are often lauded as an incentive to purchase real property.

While it is true that the declining cost of real property combined with record low interest rates makes home ownership as affordable as any time in history, the sad truth is that low interest rates are an indication of a weak economy.

The laws of supply and demand apply to the money market just as they do for any other commodity. But lower demand for money is not solely due to a lack of willing borrowers.

Many borrowers are ready and willing, but the tightening of credit requirements and increased scrutiny in the underwriting process has significantly reduced the pool of ABLE borrowers. Many more would borrow but are prohibiited from doing so.

The economy is also affected by investors that depend of interest from savings. With annual rates of return on investment at less than 1%, many are struggling to survive, let alone have enough money at the end of the day for discretionary spending.

As the cycle continues, the economy will continue to stagnate, and interest rates will remain low.

Low interest rates are a sign of the times. Good news for those that can borrow!

For the economy as a whole, not so much.

Emotion is a powerful thing. It is a driving force that can overcome logic and override common sense.

But an emotional response is often a short-lived episode. Time seems to have a way of eroding excitement and passion down to cold hard facts and the bottom line.

Over the last decade or so, the norm in real estate sales has shifted from an “inspection” period to an opportunity to exercise “due diligence.”

In essence, due diligence establishes an option period for a buyer. It allows a buyer a reasonable amount of time to examine all of the facts regarding the purchase and reasonably consider whether or not to move forward to closing.

And during the due diligence period, emotion tends to lose its grip as it yields to the facts at hand. But that’s a GOOD thing.

Buying a house is an expensive proposition. A purchaser needs to be completely satisfied that they are making the correct decision.

It’s not a negative for sellers either! Due diligence often reinforces a buyer’s commitment to proceed with the sale. Often, a buyer discovers that the property EXCEEDS their expectations!

Does buyer’s remorse play a role too? Of course it does. But the more open and forthright the process is, the better the chance for a satisfactory conclusion.

And THEN and only then the emotion can be ressurected!

All of the experts seem to agree that the “shadow inventory” is out there.  Houses that have gone through the foreclosure process but for whatever reason are being maintained in inventory but have not been placed on the market for resale.

The motivation behind the phenomenon has been described as being anything from sinister to shrewd. Are these institutional sellers simply buried under piles of paperwork, stymied by litigation, or simply trying to stabilize the market in an effort to reap top dollar for their properties?

Whatever the reasons, in Coweta County Georgia there is a significant difference between the number of monthly foreclosures and REO and HUD homes showing up in the marketplace.

I get calls all of the time about houses that have been sitting empty for long periods of time while would-be buyers await the opportunity to make an offer.

The shadow inventory is out there. And it can affect our market dramatically.

And until it is dealt with in a proactive way a lot of uncertainty will remain.

Real estate is STILL a people business. The overwhelming majority of real estate transactions still rely on face to face interaction on a personal level.

Real estate agents work very hard to place their product in front of as many potential buyers as possible. It is time consuming and expensive to list property.

So it logically follows that if our marketing efforts generate interest in a property, at some point, the relationship has to be taken to the next level: i.e. a real conversation.

And while I enjoy the creativity you employed in filling out the contact information, I often wonder why you choose to hide behind a pseudonym.

If you are looking for a property in my area, I can help you get a great property at a great price. And under most circumstances, my services are at no charge to you. I can provide you with local information and financing options.

I’m not just a salesperson. This is my community and I live here. I know things beyond the posted data on the screen.

If you are just browsing because you are curious about our area, that’s just fine too. We won’t pressure you into doing anything. We are in the sales business, and we don’t want to waste your time or OUR time either!

It is true that if you leave your real name and contact information we will attempt to get in touch with you. We do so because we truly believe that we are in the best position to assist you with one of the most important financial transactions in your life.

We work hard and we are serious about our profession.

Why not give us a chance to show you what we can do for you?

Charity and compassion are wonderful qualities. The ability of human beings to empathize with those that are suffering is unparalleled in the animal kingdom.

There is an old adage that states that “charity begins at home.” And it is one that I take to heart. As a caring human being I often want to contribute.

But there is nothing that is either charitable or compassionate about forcing one’s personal moralities at the expense of another’s pocketbook.

It might be defined as a moral convenience or even political expediency, but there is nothing that could be even remotely defined as charity.

The moral compass will always point us in the right direction.

Do good for goodness sake and no other reason.

Come set your joy on golden fronds
That spice the meadow with saffron strains
‘Tis Spring that waxes, fresh verdure dawns
Awakes as Winter’s crescent wanes!
                    ( R Weisser 2012 )

Spring has come early to Newnan Georgia this year. The “jonquils” started blooming in January and the “redbuds” are resplendent in their awakening.

The trees are already budding out. And while I enjoy Spring as much as anyone, you have to wonder about the impact this unseasonably mild winter will have on agriculture.

The famous Georgia Peaches require a significant amount of hours below 45 degrees to properly set fruit. Not to mention the fact that if they bloom too early, a late frost or freeze can ruin a crop.

But like it or not, we have no control of the weather and must deal with it as it comes.

In the meantime, I’ll enjoy the flowers!

I love railroads and I love history. And fortunately, the two are so interconnected that you can’t appreciate one without having a fondness for the other.

Most of the main railroad lines in America were constructed in the 19^th Century. Any town fortunate enough to be situated in the path of the railroad enjoyed a sudden burst of prosperity.

On the other hand, many villages that were bypassed soon faded into obscurity.

The availability of transportation became a necessary component of community survival.

Many modern railroads follow the same right-of-way as their 19^th Century counterparts. And most are punctuated with bits and pieces of local periods from times long past!

If you want to learn more about history in your area, try following the railroad. You just might be surprised at what you might discover.

If you think that the phrase Super Bowl® is in the public domain, think again. The mark is owned by the NFL and its use is strictly monitored and controlled by the football confederation.

Most real estate agents probably don’t think this topic has any application to the business of selling properties. After all, we don’t hawk pizza or televisions or beer.

But using the phrase to promote a commercial endeavor, such as a “Super Bowl® Open House” probably requires a license from the NFL.

Fair use of the expression is likely limited to stories about the game itself. For instance, if you are writing about events during the game or even a journalistic diatribe about fair use of the mark!

Would the NFL issue a cease and desist order to an agent for violating the trademark? Probably not, but the law is the law and if we profess to follow the rules then we should willingly comply with them.

As we plan our “Big Game” parties and celebrations, we must keep in mind that fun is fun, but business is business.

And the two shall not mix!

Disclaimer: The writer is neither an attorney nor an expert on trademark issues. The content contained hereinis only the opinion of the writer. When dealing with any legal issue, always seek the advice of an attorney.

The requirements for real estate licensure vary from state to state. In many jurisdictions, getting a real estate license is a lot easier than getting one to cut hair.

Many suggest that the standard be raised and that more education should be demanded in order to sell real estate.

And while some decry this as a “protectionist” attitude from incumbent agents in order to eliminate competition, I see it differently.

Due to the changes in the actual practice in real estate sales and the ever increasing threat of litigation, strengthening of the licensure process would serve to protect the licensee as well as the public.

The ability to get a license quickly and easily is not a boon. It is a curse.

How much better would it be to send a newly licensed agent into the real world educated and informed?

The agent would benefit as much as anyone.

And be better equipped to serve the public.