The Bird Gives Back

Did you know that Red Robin Group donates 1% of our commissions to organizations in our community? Here are some of the projects we’ve supported this year…

East Atlanta Kids Club

Not only do we make a quarterly donation to this wonderful organization, but our team also takes part in projects involving the children of the EAKC. Earlier this summer, you may have heard about our Birdhouse Project that spruced up a small park in the Ormewood Park neighborhood with a beautiful birdhouse art installation. If you haven’t had a chance to see it yet, you may want to take a quick drive (or walk) over to the intersection of E. Confederate Ave and Woodland Ave.

We’re also making our 4th quarter donation to the EAKC in support of their holiday programming and gift giving. During this time of year, it’s so important for kids to build happy memories and feel the love and joyful spirit that the holidays can bring. Red Robin Group team members have also committed to some holiday volunteer hours with the EAKC.

Child Sponsorship at the Guice School

Guice is an Easter Seals North Georgia early childhood school located right in the Ormewood Park neighborhood. This group “provides high-quality services to ensure that all children with disabilities or other special needs and their families have equal opportunities to live, learn, work and play in their communities.”

Last year, a mother of one of the boys attending Guice started a project to find sponsors for the 140 children living in poverty that attend the school. She had started noticing that a majority of the children were being dropped off at school in worn clothing with no winter coat to keep them warm. Many of those same children live in homes without a single book.

This year, Red Robin Group has decided to sponsor a child at the school. She is 20 months old and will now be receiving a baby doll, books and clothes to open on Christmas morning.

This goes without saying, but we are overjoyed at the opportunity to take part in these wonderful neighborhood projects.

Happy Holidays to all.

Add This to Your Holiday Shopping List

Holiday shopping is in full force. There’s one thing that should definitely be at the top of your “shopping” list if you’re one of those individuals always looking for a great bargain… a home. Here’s a compelling reason to shop for your new home in the next 2 months.

Remember, putting aside the fact that this is the finest buyer's market any of us are likely to see in our home buying lifetime, there is something even more wonderful about being a winter buyer (in any type of market). Individuals who are continuing to list their homes through the holidays mean business. And since the buyer pool is generally a lot smaller in this season compared to all others, it means that the sellers are not seeing nearly as many people walk through their homes and it's that slow down in traffic that can precipitate significantly more negotiability on the part of the seller.

So for all you buyers out there that are inclined to buy over the course of the next year, consider taking advantage of the winter months to get a move on the best possible deal out there. This time of year through early February tends to be absolutely the best time of all for a buyer to make a move on a home with the greatest negotiability on the part of the seller. All you bargain shoppers, here’s your chance to get the deal of a lifetime. Imagine all the future holiday memories you’ll be able to create in your new home!

The South's Top Home Improvements

Getting your home ready to sell?

It's important to keep in mind that the better your house shows, the better your house sells.

Most of the time, the small things add up to make a big difference. Homegain.com recently conducted its third nationwide home improvement and home staging survey to reveal the top do-it-yourself, low-cost home improvements.

Atlantans, get ready. Each region of the country has different tastes and conditions influencing their top priorities - here's what the 1,000 REALTORS in the South who took part in the survey came up with:



Basically, we're seeing these top 5 home improvements as the most recommended, based on cost and return on investment:

1. Home staging
2. Lighten and brighten
3. Clean and de-clutter
4. Landscape
5. Repair electrical

However, if you're looking for the largest price increase to your home's resale value, surprise, surprise: it's the updated kitchen. And sometimes an updated kitchen could be as simple as repainting the cabinets and getting rid of an outdated apples-in-baskets wallpaper.

If you're interested in the rest of the country's home improvement priorities, see the full survey results here.

Contact Red Robin Group at 404-254-5206 x2 to schedule a free home evaluation. We can help you determine what needs to be done to make your home stand out in this competitive market!

The New F.A.D.

Source: RISMedia.com, Article: Be Market-Smart: Dos and Don’ts for Home Sellers and Buyers

It's not an iPhone. It's not the South Beach Diet or the Twilight series. It's a new way to get ahead of the game... the real estate game that is.

The newest "fad" in real estate is the Flexible, Adaptable and Diligent buyer or seller. The ones that are walking away on top are the savvy ones, determined to make things happen even in today's real estate market. They're not lazy or overly emotional. They're committed to buying or selling even though they're most likely faced with the same challenges as everyone else - for instance, getting the best price when selling, or securing financing when buying.

To get with the newest "fad," there are some simple dos and don'ts for today's buyers and sellers:

For Sellers:

DO...

• Be flexible. Often it’s the little things that push a buyer into the “yes” zone. If the buyer goes on and on about how much they love your patio furniture, throw it in. If the closing has to be pushed ahead more than you expected, try to be as flexible as possible and pack the moving van a little quicker.

• Clean up. One person’s prize doll collection is another person’s cluttered nightmare. Similarly, a living room filled with Beanie Babies could elicit a reaction of fear, rather than “Aw, how cute!” from a buyer. Put away any personal collections that not only cause clutter, but also make it hard for a buyer to see the home as his or hers, rather than yours.
  

DON’T...

• Don't be greedy. The market—not your emotions—dictates your home’s price. If comparables in the area and several trusted real estate agents tell you your home is worth $300,000, you’re not fooling anyone by pricing it at $400,000—and you’re only doing yourself a disservice. Pricing it at market, even a little below, could generate a bidding war, and ultimately get you more money.

• Don't get personal. If you’re selling your house for a certain amount, and someone offers something much lower, don’t take this as a personal affront and refuse to counteroffer. Letting your emotions get in the way can potentially ruin the deal. What’s the harm in making a counteroffer?

• Don't procrastinate. In the current climate, you might be scared to try to sell your home, as you may have to face a lower selling price than you may have gotten before the recession. But remember, the house you buy might be even lower, commensurately. It’s all relative. So if you’re serious about selling, consider doing it now. Also, acting before the cold months come is a good idea, as the winter months are historically harder for home sales.

For Buyers:

DO...

• Get a home inspection. It’s important to hire a trusted home inspector to check out the house’s potential issues and problems. Don’t skip a home inspection because you’re afraid of what you might hear—many issues sound more serious than they actually are, and can be fixed easily. And if something deal-breakingly serious is turned up, as disappointing as that is, it can save years of heartache and financial outlay. Better to walk away from a clunker.

• List your place before you look for another. If you’re truly serious about looking for a home, list your own home first. In the current economy, banks want to make sales as uncomplicated as possible—and contingency sales, which can be very complicated, are often rejected.
  

• Talk before you act. Don’t ever start a home search without a firm budget not only in mind, but literally written down. Mutually agree with yourself—or with your partner, if you’re buying with someone else—long before you start seriously searching. Going out of that zone because of a place you just “gotta have,” or are emotional about, could put you in dire financial straits later. You don’t want to buy a house that isn’t affordable for you, and then be worried about paying for dinner and a movie on Saturday night.

DON’T...

• Don't be a design snob. If someone’s enormous bathroom has wallpaper border containing frolicking kittens and pastel flowers, or a wall that’s a nuclear shade of green, we understand this can send you into style shock. But stand fast and ignore bad décor. Instead, try to envision the space raw. Besides, you can always redecorate once the home is yours.

• Don’t make a silly offer. There’s nothing wrong with making an offer below asking price—it’s no secret that today, many homes are selling for under the asking price. But going 40% below the asking price may anger the seller. Some sellers, especially more emotional ones, won’t even bother counter offering an outrageously low offer. Feel free to make a deal—just don’t make an offer so low that you’ll be kicked off the table.

Source: RISMedia.com, Article: Be Market-Smart: Dos and Don’ts for Home Sellers and Buyers

2010 Grant Park Candlelight Tour of Homes

When: Sat. & Sun., Dec. 11 & 12, 6 PM - 10 PM

Where: Tour starts at St. Paul United Methodist Church at 501 Grant Street.

Tickets: $10 from Red Robin Group, $12 online, $15 at the door

Now in its 30th year, the Candlelight Tour will feature 10 stunning homes all dressed up for the holidays, and will once again raise thousands of dollars for the Grant Park Cooperative Preschool, the Grant Park Parent Network and the community ministries of St. Paul United Methodist Church.

Among the homes selected so far this year are:

• 368 Atlanta Avenue - A newer construction brick home, his one has all the charm and character of yesteryear. Make sure you check out the pool out back!
  
• 829 Cherokee Avenue - A Victorian-Craftsman Transitional bungalow brought back from the brink of disaster by a local agent, this one has recently been turned into a 2-story masterpiece on the park and will open to the public for the first time in nearly 100 years.
• 328 Georgia Avenue - This home impresses with its huge tapered columns and fine attention to detail inside.
• 623 Grant Street - One of of the largest homes in the park, this late 1800's Shingle Victorian is a sight to see. With 6 bedrooms, 3 bathrooms and nearly 5,000 square feet, there's almost to much to see on one night!
• 318 Georgia Avenue - Another home brought back from the depths of despair, this Folk Victorian is sure to impress with all its original woodwork, high ceilings and its huge, wraparound front porch.
• 352 Hill Street - A true Single-Gable Craftsman with all its original parts and pieces, this home will warm your heart this holiday season with the help of the homeowners eclectic mix of Southwestern flair and historic European iconography.
  

Red Robin Group is selling tickets for $10 each! To purchase from us, visit us at our office located at 749 Moreland Avenue, M - F 9 PM - 6 PM, email chelsea@redrobingroup.com or call, (404) 254-5206.

"How's the Market?": A Snapshot of Our Neighborhoods

The most often asked question these days is, “How’s the Market?” With all the media focus on foreclosures, the slow economy and the local buzz about the drop in home prices, sometimes it’s hard to get a good picture of exactly what’s going on.

At Red Robin Group, our objective is to give a clear picture of what’s happening right in our target area, which is often quite different than the bigger picture of Atlanta or even the rest of the country.

Since the end of the Home Buyer Tax Credit on April 30, our local market has seen a fairly significant slowdown. This is demonstrated by a couple of key indicators.

First, let's take a look at something we call "Month’s Supply Inventory", or MSI, to see how many homes are actually on the market in relation to real buyer activity. The "MSI" number is simply a snapshot in time that shows how many months it would take to deplete the current inventory of homes given the current rate that buyers are closing on them.

To put it in perspective, 6 MSI is considered a “normal” market. MSI below 6 is considered a seller’s market, meaning inventory is low and getting snapped up faster. MSI above 6 is considered a buyer’s market, meaning a surplus of inventory; not surprising, the numbers demonstrate that we are currently in a pretty strong buyer’s market in our target neighborhoods:

In general, we can see that in every category, the inventory is up significantly over last year. This means that buyers have more homes to choose from and, in times of high inventory, we typically see prices fall.

Second - and speaking of prices - let’s take a quick look at two other important factors: prices and number of homes sold.

Based on the chart above, we can see that our neighborhoods are down in both sales price and the number of homes sold.

Why?

Well, we have a couple of theories on that.

1) Neighborhoods south of I-20 have typically been considered the most affordable intown neighborhoods that are safe, revitalized, have acceptable school options and some commercial development and green space. Many neighborhoods that are north of I-20 have generally been out of reach for many first-time home buyers, who represent a vast majority of buyers these days. But now, prices in those neighborhoods have adjusted down and have become more affordable, and buyers are choosing to get a little less house in a neighborhood they couldn’t afford before.

2) Since Ormewood and East Atlanta, in particular, were very attractive to first time buyers, these neighborhoods have been hit particularly hard by the “post tax credit” phenomenon. Many buyers rushed to buy prior to the end of the tax credit and we’ve been left with a pretty sluggish market locally.

While this market update may seem daunting to our neighbors thinking of selling their home, there is a sliver lining:

1) It’s never a buyer’s market and a seller’s market at the same time. While it's difficult for sellers right at this moment, many of our clients are finding that it is worth taking a loss on the sale of their current home to be able to take advantage of the incredible deals on the buy side. These savvy sellers realize that this is the best buyer's market most of us have seen or may see again in our lifetime. While the general feeling is that a home should be a solid investment that always appreciates, we’ve seen very clearly that sometimes the market is down. However, fortunes are made when the market is down – those savvy investors who buy low typically do well financially. So, don’t be afraid to take a loss to get an even bigger gain.

2) There are buyers out there and homes are selling. You just have to be priced right and your home must be in exceptional showing condition. At Red Robin Group, we're starting to work with our sellers much earlier to get them prepared to sell their home – often 6 months or more earlier. We work with sellers to get their home ready by doing a consultation to determine what repairs or improvements need to be done and how to stage the home. And, we also work with our sellers to get them financially ready to sell (see our “Getting Right with Red” article). Because most sellers are looking at a loss if they bought their home in the last 5 years, we work closely with our clients to help them prepare for that.

If you are thinking of selling your home in the next year, don’t wait until spring to call for an appointment for your consultation. We really can help sellers understand the market, how to get their home ready and how to prepare financially. To schedule a seller consultation, call Red Robin Group at 404-254-5206 x 2.

How Atlanta Home Sellers Are "Getting Right with Red"

These days, sellers in metro Atlanta are finding it increasingly difficult to cope with the idea of a potential "loss" when selling their homes.

Sellers are coming to us months before actually putting their homes on the market to talk about creative ways to make the best of a situation that they didn't necessarily sign up for when they bought their home. They're finding that they have to rethink the reasons why, and the real necessity for, selling their home.

Let's say you have an adorable, picture-perfect 2 bedroom, 1 bath home in Ormewood Park that you bought 5 years ago at the height of the market for $215,000. You still owe $205,000 because you only put 3% down with an FHA loan. When you first started thinking about putting your home back on the market a few months ago, you envisioned selling it for $225,000 so that you'd have $20,000 to cover marketing costs, buyer's closing costs and some minor repair requests.

Knowing we're not going to sell it for $225,000, let's say we list it for $189,900 instead. After a few weeks, we receive an offer and go under contract for $185,000. After paying real estate sales commission, half the buyer's closing costs and some minor repairs, you're down to $170,000.

You're basically short $35,000. What do you do?

In the past few weeks, we've spoken to many other real estate agents in the market about their clients' challenges, and have also asked experts in the financial and lending world to add their perspective on the matter. Here's what we heard:


1. Sell At A Loss, Buy At A Discount

If you're looking to "move up," one of the best ways to overcome the long-term effects of selling at a loss is to make sure you buy your next home at a discount that is equal to or greater than the loss on your home.

How does one determine the discounted value of their next home?

That's a tricky question, as the hard numbers can only be proven over time. But let's take the following situation into consideration for example's sake:

Suppose you and your family wanted to move from your 2/1 in Ormewood Park to a 3/2 in Candler Park that needs a little TLC. Your budget is $350,000, and you want to do the FHA program again (which will soon require 5% down). Will you still have enough in savings to cover the down payment and any closing costs after absorbing your $35,000 shortfall on the house you sold?

First, you can get some incredible deals right now in Candler Park. Chances are, you might even find something for well under $350,000.

Second, if you play your cards right, you may get a significant amount of your closing costs covered by the seller, depending on their own level of anxiousness about market activity and their motivation for selling.

In the end, if you have the funds to cover the $35,000 loss on the sale and on, let's say, the $25,000 cost of buying a new home, that's a total of $60,000 you'll need to make that happen.

So for a $60,000 investment, you get you and your family into a larger home that's in the neighborhood and school district of your choice. Perhaps the home was sold to you at a price that was below market value because it was a short-sale, a foreclosure, or perhaps it just needed some updating. You plan to stay in the home for 10 years, which will get you through the remainder of your children's time in school. You'll renovate and remodel at your own speed. You may even add an addition to the home in a few years when the economy picks up, knowing that the neighborhood values will support that rationale when the time comes.

Is it worth spending $60,000 to get your family into a larger home that's in the neighborhood and school district of your choice, considering you may get the home at a greatly discounted price and your new mortgage interest rate may be significantly lower?

Do you feel that you would have "bought low" today, and would you have set you and your family up to "sell high" later?

If the market conditions were to stay the same over the next 6 months to a year, would it be worth it to you and your family to set an appointment today to speak with your financial advisor or lender today to see how you're going to make this happen over the next several months?


2. Relocating? Negotiate!

Putting your home on the market because of a job transfer or a relocation? Be sure to talk to your Red Robin Group agent as soon as you get off the phone with that hiring manager or that recruiter.

Before you begin negotiating salary and benefits, remember that the time your home is on the market and the final sale price are both going to have a significant impact on your ability to enjoy all the perks of a new career path.

Some people avoid the conversation with their new employer about selling their home, thinking it's not their employer's problem, opting instead to rent the home out and become long-distance landlords. This leaves you on the hook for the mortgage and the maintenance of a home you may never return to, making the process of selling the home in the future even more difficult.

Instead, be up front with the recruiter, your hiring manager or your new boss. Tell them that you have a home to sell, and if they value you enough to hire you, that there's a cost associated with getting you from point A to point B. This won't be the first time they've heard this, and trust us, they've had time to think it.

Just short of a full relocation package where an employer ultimately takes on a more significant responsibility and liability for selling your home, many employers are getting inventive. In the example where we are coming up short $35,000, there may be a number or ways an employer could help you absorb that loss:

• Not really anxious to buy in the new city you're moving to? Ask the employer to help cover some of your housing costs for the first year.
• Negotiate a sign-on bonus that may help absorb the loss.
• Can the employer not afford a sign-on bonus? Negotiate a year-end bonus for 2 to 3 consecutive years, which your employer may tie to job performance or, at the very least, job retention.
• Negotiate an agreed-upon reimbursement amount that's to be paid when the house sells.

Whatever you negotiate, talk to your Red Robin Group agent to see if it makes sense before putting your home on the market. For more information on relocation negotiation tips, click here.


3. Short-Term Loan. From Yourself.

If you're selling to "move up" and you're staying with your same employer, one of the last options you may consider to help absorb a short term loss is taking a loan against your 401(k).

Before doing this, talk to your HR benefits manager, your financial advisor or your lender to get the scoop on both the penalty that may be incurred and the long-term effect this loan may have on your retirement plans.

Be sure you understand the difference between a loan and a withdrawal, the tax implications of both, and the cost/benefit of using this money as a "stop-loss" versus allowing it to continue to earn interest for your retirement plan.

If you're taking out a loan, make sure you understand and can afford the repayment plan that your employer will set up by withholding money from your paycheck until the loan is repaid.

Fall Home Maintenance MUSTS

Fall weather is perfect in so many ways. That’s why there are so many great festivals and outdoor activities happening all over the city of Atlanta. Not only is it a great time to spend with family and friends, but It’s also the perfect time to get to those home maintenance tasks that you don’t want to sweat to in the heat of the summer or freeze to in the chill of the winter. We recommend a couple easy tasks to make sure you get done this Fall.

Clean those gutters out! - It’s one of those things we only think about when we’re sitting on our front porch enjoying a rainy afternoon and we see water spilling over the edges of our home, leaving trenches around the yard and garden. It’s a little bit of work, but it will be a BIG payoff in the end.

Buy a hose bib insulator – while they’re still cheap! - This is super simple and something you should do every fall, before the freeze of winter sets in. Make sure to insulate your hose bib (outdoor hose faucet) to prevent the splitting, which can be a significant plumbing repair job.

Inspect your attic. – Now that it’s not reaching 100+ degrees up there, you will want to do a thorough inspection to check for things like rodent intrusions and cracks. Make sure to have those problem areas professionally sealed off, especially if you’re living in an older home.

Inspect your crawl space. – Another one you probably don’t want to do in the heat of the summer… or the cold of the winter for that matter. Head on in there and make sure your crawl space is secure from critters and cold. You’ll see energy saving benefits by screening necessary openings and covering huge openings with bricks or blocks.

Call for an HVAC checkup. – This is something that really should be an annual occurrence. Get a technician in to your home to check your gas furnace before you run into problems and end up freezing your you-know-what when the cold of winter rolls on in. The technician will want to check for leaks at joints, make sure your burners are clean & efficient and if you have a heat pump, a check to make sure it’s even operation should do the trick. If your home is 10 years or older, you’ll want to make sure to have an HVAC check-up once a year. Likewise, if you have a new HVAC system, you’ll want to do it to simply maintain the warranty. That’s a pretty expensive piece of equipment to neglect!

Check these tasks off your list this Fall and you’ll be ready to transition into Winter without any hiccups.

If you need recommendations on inspectors/technicians, we have a great inventory of those fixer-upper types here at Red Robin Group. Just give us a call @ 404-254-5206!

Red Robin Group Works Overtime

Red Robin Group is known for our innovative marketing, our smart selling strategies and our ability to network to get buyers and sellers to the closing table faster.

And we're not about to let the current market conditions get the best of us.

Marketing your home to its full potential is a top priority for us and we’ve definitely stepped it up to make your home relevant to today's buyers.

Here’s how:

• Agent Referral Incentives – We're currently offering incentives to agents who can connect us to other agents who may have buyers who may be interested in your home. Whew - sounds like a mouthful, right? Here's how it works: a a seller, you may have several agents bring buyers through your home over a period of time, yet not submit an offer. However, those agents may know OTHER agents who have clients that would be a perfect fit. So if that agent who showed your home can connect us to another agent, and we eventually get to the closing table as a result, we'll pay the referring agent a referral fee.

• Higher Commission Splits for Buyer Agents – Plain and simple, money talks. When we have a challenging property to sell -- like a home that has many substitutable equals at the same price, like a condo or town home -- one rabbit we're pulling out of the hat is a higher sales commission to the buyer's agent. Our theory is that agents will want to show your home over others like it if they’re getting a larger “piece of the pie.” And it works!

• Pocket Listings – We’re working more and more now with more sellers who want to do a "pocket" listing before jumping into a full-service listing. Basically, we sign a listing agreement then network with our current buyer prospects and other agents to generate interest. A pocket listing allows us to "try it out" for a few days while testing some valuable variables -- is our price too high, do we need to work on staging, or better yet, do we have someone who wants to buy it right away before it's listed? And while a pocket listing certainly does not allow us to expose your home to the widest audience of buyers possible, it may make your home appear much more exclusive to the few buyers that do come through.

• Staging & Photography Consulting – At Red Robin Group, we pay a lot of attention to the little details that can make or break the sale of a home. And we believe that when it comes to showing a home at its best, there are two essential elements that go hand in hand: good staging and great photography. Now more than ever, we're getting serious with our sellers on staging advise to get their homes ready for market by giving them to-do lists, asking for progress reports and even connecting them with home staging consultants and all-out stagers. When the home is its best, we hire a professional photographer to do the rest. Afterward, if there's a room or two that's needs a little extra attention in the photography department, we may offer "virtual staging" to turn an empty living room or an appliance-shy kitchen from “shabby” to “chic.
• Full-Time Client Service Manager. For the past year, we've had a full-time client service manager dedicated to communicating with agents to help get our listings sold, as well as communicating with our sellers on agent feedback, market conditions and new strategies to get their homes sold. What's more, our client service manager is instrumental in "cross-selling" our listings: if a home didn't work out for someone else, maybe another one of our listings would be better.
  

• Early Intervention – In the old days (like, 2 years ago), a seller would call us just a couple of weeks before putting their home on the market to talk about pricing, staging and general expectations. Now we're encouraging sellers to call us months beforehand so we can help them prepare financially and "get their house in order” so that when it comes time to market it, everyone's on the same page.

If you have any questions about these and any of our other strategies that get homes SOLD, email us at info@redrobingroup.com or give us a call at 404-254-5206.

Add "Credit Score" to Your Fall To-do List

The changing of the seasons means your "To-Do" list is inevitably growing. It probably goes something like this: 1. Switch out summer clothes, 2. Paint the fence before it gets too cold, 3. Make holiday arrangements, 4. Check my credit score.... wait, what was that last one? Yes, check your credit score. Add that to the list now and you'll be good to go for the next 6-12 months. Here's how you can make sure to stay on top of your credit score...

Need Credit or Insurance? Your Credit Score Helps Determine What You’ll Pay
Ever wonder how a lender decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you’d be a good risk for credit cards, auto loans, and mortgages. These days, many more types of businesses — including insurance companies and phone companies — are using credit scores to decide whether to approve you for a loan or service and on what terms. Auto and homeowners insurance companies are among the businesses that are using credit scores to help decide if you’d be a good risk for insurance. A higher credit score means you are likely less of a risk, and in turn, means you will be more likely to get credit or insurance — or pay less for it.

What can I do to improve my score?
Credit scoring systems are complex and vary among creditors or insurance companies and for different types of credit or insurance. If one factor changes, your score may change — but improvement generally depends on how that factor relates to others the system considers. Only the business using the scoring knows what might improve your score under the particular model they use to evaluate your application.

Nevertheless, scoring models usually consider the following types of information in your credit report to help compute your credit score:

• Have you paid your bills on time? You can count on payment history to be a significant factor. If your credit report indicates that you have paid bills late, had an account referred to collections, or declared bankruptcy, it is likely to affect your score negatively.


• Are you maxed out? Many scoring systems evaluate the amount of debt you have compared to your credit limits. If the amount you owe is close to your credit limit, it’s likely to have a negative effect on your score. A good rule of thumb is to always keep your balances at no more than 30% of your limit.


• How long have you had credit? Generally, scoring systems consider the length of your credit track record. An insufficient credit history may affect your score negatively, but factors like timely payments and low balances can offset that.


• Have you applied for new credit lately? Many scoring systems consider whether you have applied for credit recently by looking at “inquiries” on your credit report. If you have applied for too many new accounts recently, it could have a negative effect on your score.

How many credit accounts do you have and what kinds of accounts are they? Although it is generally considered a plus to have established credit accounts, too many credit card accounts may have a negative effect on your score.

Improving your score significantly is likely to take some time, but it can be done.

Credit scores and credit reports:
Your credit report is a key part of many credit scoring systems. That’s why it is critical to make sure your credit report is accurate. Federal law gives you the right to get a free copy of your credit reports from each of the three national consumer reporting companies once every 12 months (some state laws allow for you to get a free copy of your credit report 2-3 times a year). I personally recommend you check your credit report every 6 months.

To order your free annual report from one or all the national consumer reporting companies, and to purchase your credit score, visit http://www.annualcreditreport.com/, call toll-free 877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P. O. Box 105281, Atlanta, GA 30348-5281.

For more information on credit scoring and how it could impact your ability to purchase and or refinance a home contact Brandon Byrd with LoanSouth Mortgage at 404-915-8252 or by email at bbyrd@loansouth.com.

Source: MyFico.com and FTC.gov

More Money. Sell Sooner. 5 Tips to Make It Happen

The dog days of summer are behind us. No more 90-degree weekends, vacations and summer camp. It's back to the usual fair-weather, get-it-done grind. So, if you're looking to get your home on the market soon, now's the time to knock out a few things.

Before we get into the good stuff, let's take a step back and share some stats. According to First Multiple Listing Service's July report, the average "days-on-market" (DOM) from the point a single family, metro-Atlanta area home is "listed" until the day it goes "under contract" right now is 84. Let's say you put your home on the market tomorrow: at 84 DOM, add a few extra weeks for your buyer to get their financing in order after you go under contract, have inspections done and have the home appraised, you'd be looking at mid-January before you back the moving truck down the driveway.

Our goal at Red Robin Group is to beat the Atlanta DOM average by half. If we help you price the home right from the get-go, and we work together to get the place spruced up, we're creating a better opportunity to get your home sold in half the time.

Time and time again, our statistics have shown that in order to get your home sold, you need to be in the bottom 25% of price competitiveness and in the top 25% of showing condition to get the home sold.

In the past, sellers could make up for average or poor showing condition by lowering their price. Unfortunately, that just doesn't cut it anymore. Today, buyers expect your place to show like a million bucks before they even consider submitting an offer. And you can't reasonably begrudge them: buyers are still faced with an over-saturation of inventory (there's just too much too see), they still have insecurity about the housing market (not sure if we've reached the "bottom" yet) and buyers have no disposable income after purchase to restore, renovate and remodel a home that needs help. They want something move-in ready or they'll go down the street, skip to another neighborhood or even cross county lines to find the most home in the best condition for the money.

With these challenges in mind, here are a few suggestions that always seem to make a tremendous difference when it comes to getting your home in its absolute, tip-top showing condition without breaking the bank:

1.Shine that floor! If you have hardwoods, heart-of-pine, parquet or any other type of wood floor that's painted or stained, the absolute, hands-down best product on the market to freshen them up is Rejuvenate. We've used this on our own floors and it's simply incredible. It's cheap, it works, it's easy to use. Every time one of Red Robin Group's sellers uses this product, we ALWAYS get comments on the incredible "refinish job" on the floors from agents and potential buyers. Clean, shiny and "new" looking floors make buyers feel like you've cared for your home from, literally, the floor up. And this is why this product is at the TOP of our list when it comes to home fix-up tricks.

2. Paint those walls and paint that dirty trim! You may have liked that lavender living room when you painted it a few years ago, and your 6-year-old may have really wanted Barney-purple in his room, but it's not 1992 anymore and your kid's in high school now -- what's more, Fido and Fluffy have done a number on the baseboards and door molding over the years. More important, when you're getting ready to put your home on the market, it is absolutely essential to create a sense of unity in the interior structure of the home. The best way to create that is to pick one consistent, neutral wall color and compliment it with a light-colored, gloss enamel for trim, doors and windows.

Our buyer agents consistently hear feedback from their clients that when the interior of the homes they see are painted one consistent, neutral paint color, they remember it as more spacious, cleaner and brighter. Plus, they tend to actually remember more about the house, which is important if they need to mentally "flag their favorite". For houses with different wall colors in every room (especially darker, disparate colors), they tend to remember less about the home, including the floor plan, the size of rooms, and they may even forget altogether some of the rooms they saw.

3. Clean that grout! Remember what you always hear on HGTV? "Kitchens and baths sell houses." So if you can't remodel, then give buyers a kitchen floor, a bathroom floor or a shower surround that they can eat off of. The trick? A grout pen. It's no more than 10 bucks, it comes in many colors, there's a million different kinds, and they make your bathroom floor or kitchen back splash look clean and new. These things are like magic. All of us have had that tile wall or floor that we just can't get any cleaner, and we give up. Well, guess what? A buyer knows you've given up when they see it, and its not a project they want to take on, either. So whip out this pen and make some miracles happen.

4. Plant those flowers! We've said it before and we'll say it again: a buyer makes a decision about a house within the first 10 seconds of pulling into the driveway. Tons of blooming flowers and lush, fresh ferns sure do help create a positive first impression. It shows that you have pride in your home, and that's what buyers are buying - pride. Whenever our buyer agents take their first-time buyers out to a house, if there are no flowers and no nice landscaping out front or (heaven forbid) half the plants are dead and dying, the VERY first question they ask before the ubiquitous "How long has it been on the market?" is "Does anyone live here?" Don't go cheap on this one - get some decent, fully-grown, blooming plants that would make a buyer say "WOW!" before they open the back passenger door and step out of their agent's car.

5. Declutter & stage! This is where most sellers need our help. We know your personal belongings are pretty hard to see past. You place more value on your stuff than a buyer would, and that's understandable: that's why it ended up in your living room and not theirs. And that's why, when we get geared up to list your property, we're going to walk with you from room while making a list of the things that should stay and a list of the things that should go. Bottom line, a buyer needs to be able to visualize their life in the house and not be bombarded with items that cloud that personal image. Some hints? TVs on top of dressers, out. Large wall paintings, in. Anything more than a dining table and four chairs in a 10'x10' dining room, out. Fresh cut flowers, in. From time to time, Red Robin Group may even have some extra staging items to help, and we'll go over all of this in detail when we do our staging walk-through together.

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Take a look at all the photo of the home below where our sellers took every one of the above suggestions to heart...

See that shiny floor? That's the Rejuvenate. The three pieces of furniture, large wall painting and the fireplace screen? Pared down from about 15 other items.

Now CLICK HERE take a look at a slideshow of the entire home, inside and out. You'll see that the grout pen, the staging advice and landscaping tips all came in handy, too. It took the couple 3-4 weeks to get their house ready. Once it hit the market it was under contract in two weeks for more than we originally planning on listing it for.

They got THOUSANDS more and sold it faster by following the five suggestions above.

And who doesn't want more money and less time on the market? All it takes is someone to give you the right suggestions, then when you put in a little elbow grease, good things happen!

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For more tips on how to get your home ready for market this fall -- including color choices, the right decorative items and affordable amenities that are in season for 2010 -- contact a Red Robin Group listing agent at 404-254-5206 x2 or email agents@redrobingroup.com.

Downpayment Assistance From The BeltLine

Wondering if there's any progress happening with the Atlanta BeltLine? Well maybe those parks, trails and transit plans are still way off, but there has been some movement with the BeltLine's affordable housing plans.

The BeltLine Affordable Housing Trust Fund (BAHTF) has been created to offer downpayment assistance of up to $50,578 to homebuyers looking at properties in the Beltline Tax Allocation District.

BAHTF provides homebuyers with downpayment assistance of up to 20 percent of the sales price at a zero percent interest rate as a soft second mortgage. There is no first time home buyer requirement for borrowers moving into the incorporated city limits of Atlanta, but current residence must be sold prior to closing on the new home. You can check out all the guidelines associated wth this program here.

Red Robin Group currently has 3 listings that fall within the Beltline Tax Allocation District and are being offered under the maximum purchase price limit of $252,890. Check them out:

600 Warwick Street, 3/2, $228,900


558 Mead Street, 3/2, $215,000


457 Stovall Street, 3/1, $189,900


Please give Red Robin Group a call at 404.254.5206 if you or sombody you know might be interested in one of the above properties.

Changes to FHA Premiums, Coming in October!

Its official: FHA was just given authority to change the amount charged to borrowers for both the Up Front and the Annual Mortgage Insurance premiums...and change them they did.

The new premium amounts will be effective on all FHA case numbers assigned on or after October 4, 2010 – so borrowers that already have an FHA transaction in process won't be impacted, but new FHA clients who come into process on or after October 4th will be subject to the new guidelines.

Here's what you need to know:

The Up Front Mortgage Insurance premium is now 1.0 % for all standard FHA programs, including on purchased money mortgages. This is a significant change from the 2.25% Up Front Mortgage Insurance premium typically in place on FHA 30 year Fixed Rate transactions.

... But don't break out the party hats just yet ... the Annual Mortgage Insurance premium is now .90% for LTV's greater than 95% on 30 year loans...and this is also a significant change from the .55% we've been accustomed to using when calculating the monthly payment. Based on a loan amount of $250,000, that is an increase of $72.92 a month!

There are different annual premium amounts for lower loan values and for 15 year terms, so call Brandon Byrd with Loan South Mortgage for more details if needed (see contact info below). And by the way, FHA now has the authority to raise the Annual Mortgage Insurance premium “at will”...up to 1.55%...so Brandon will be keeping closely tuned to any changes and will be sure to keep you informed.

So, what does this all mean for you, the borrower?

Right now you have to pay a bigger upfront premium and a smaller monthly premium. Under the new guidelines you will pay less upfront but more each month and it will take roughly 43 months before the bigger monthly premiums outweigh the lower up-front premium.

The bottom line is if you think you will be in your home for less than 43 months it could be worthwhile to wait until after October 4th to obtain FHA financing. Otherwise it would be cheaper in the long run to apply for your loan before October 4th.

If you have any other questions about how these changes will impact you, call or email Brandon today!

Brandon Byrd: Loan South Mortgage (404) 915-8262
BByrd@loansouth.com

Is Now The Right Time to Sell My Home?

At Red Robin Group, we hear the same question almost every day. Sellers know the real estate market is still slow and they want to know if now is the right time to sell their home, or if they even can sell their home right now. The answer to these questions is… maybe.

It’s true that this is the worst real estate market for sellers (the BEST for buyers) that we’ve seen in quite a long time. There is a lot of inventory on the market and many sellers have resorted to drastic price reductions to sell homes – builders and investors in particular continue to put out good product at very competitive prices. It can be really hard for a home owner to compete when it comes to selling their home.

To be sure, a seller must have a strong level of motivation to put their home on the market in the current real estate environment. What might constitute a high level of motivation?

1) A job transfer. If your company has mandated that you move or you have a great opportunity for a new job in another city or state, you are likely in a position that you have to sell your home, no matter what it means for the bottom line.

2) Loss of a job. Unfortunately, in this economy, some people have lost their jobs and have been unable to find other employment in a timely manner. Getting out from underneath a mortgage may be necessary to make ends meet.

3) Children starting school. Many sellers find themselves searching for homes in a good school district for their children.

4) Trading up. One of the strongest motivators we see for sellers in this market is the phenomenal opportunity to “trade up”. While it’s not the best time to sell a house, it is a FANTASTIC time to buy a house. We are still in a strong buyer’s market in Atlanta, which means prices are low and there are a lot of homes to choose from. And, interest rates are at an all-time low. So, many sellers are willing to take a hit on selling their home in exchange for being able to buy a house that they wouldn’t be able to afford in a better real estate market. A better neighborhood. A bigger house. A great equity position. All of these can be great reasons to take a loss on the sale of a house.

If you are wondering if you should sell your house in the near future, call Red Robin Group at 404-254-5206 or email agents@redrobingroup.com for a complimentary consultation and market analysis. We can provide you with information to help you decide if now is the right time to sell your home.

Introducing Red Robin Group, LLC - Atlanta's Newest Real Estate Brokerage

After three years under the leadership and guidance of Keller Williams Realty Intown Atlanta, Melissa Wakamo and Rob Smith have taken their team to the next level. On Tuesday, July 28, 2010, Red Robin Group, LLC became the newest independent real estate brokerage in Georgia.

"We are excited to announce that we will be starting our own brokerage this week," said Rob Smith in a statement to the leadership and associates of Keller Williams Realty Intown Atlanta. "After spending three years as a team at Keller Williams, we feel compelled to try it on our own for a while. We've enjoyed our time at Keller Williams, and our decision to leave is in no way a reflection on the company. In fact, this was a really tough decision because of the tremendous value, support and structure that Keller Williams has provided over the years."

"I’m happy for their opportunity to grow with new experiences, but also sad that we’ll see less of them," said Rick Hale, operating partner and managing broker at Keller Williams Realty Intown Atlanta. "They are great folks, have contributed generously while here, and I wish them the best as they embark on their next endeavor. And in my book, once KW family, always KW family."

"We're very excited about this transition," said Melissa Wakamo. "To me, this is just the next logical step in our real estate careers. And we're already busy putting enhanced systems, tools and resources in place so that our team can better serve our clients in the months and years ahead."

Red Robin Group is already looking forward to quite a few other endeavors on the immediate horizon, such as:

• A stronger commitment to becoming more involved in charitable, non-profit and volunteer programs in the neighborhoods where they serve


• Smarter marketing tactics for their seller clients, including the latest and greatest lead-capture systems


• An enhanced, specialized team focused on better serving their buyer clients


• A commitment to being a more eco-friendly company by becoming totally paperless by January 2012
  

Please Welcome Our Newest Team Member, Chelsea Sommers

Hi Everyone!

Chelsea Sommers here, and I’m very excited to be joining the Red Robin Group team as the new Marketing & Administrative Coordinator.

I’m here to help with all the online, email, onsite and event marketing as well as provide listing marketing support.

Please feel free to contact me with any needs/questions you may have!

Email: mailto:chelsea@redrobingroup.com
Phone: 404-254-5206 x8

Quick Bio: I moved to Atlanta in January of 2009 from Ohio. I had a few other things happen in 2009 as well… I got married, bought my first home (in Ormewood Park!) and adopted a dog.

Life is good!

Hot Loans Being Offered Right Now!

There are some great deals being offered in the financial loan world right now. Here are two offers that are hot, hot, hot:

1. Community Loan Program – 2% Down, No PMI - Wells Fargo Home Mortgage

The Community Loan Program allows a home buyer to get a 30 year fixed rate loan with a 2% down payment and no mortgage insurance. This loan is unique to Wells Fargo - because Wells Fargo & Wachovia are a bank as well as a mortgage company they have a commitment to be an asset to the communities in which they have a banking presence. Offering these special loans (which mainly appeal to 1st time or moderate income homebuyers) is one way they try to give back to the community.
Highlights/Guidelines:

• The maximum loan amount under this program is $250,000 and the customer and property would still have to meet regular loan qualification criteria (good credit, income, appraisal, etc.).
• The home needs to lie in a census tract which is considered low or moderate income (the vast majority of the census tracts in East Atlanta, East Lake , Kirkwood, Oakhurst, Ormewood).

2. HomeStyle Renovation Program – Combine Home Purchase w/Reno Costs - Loan South Mortgage

The Fannie Mae HomeStyle Renovation program allows borrowers to combine the purchase or refinance of a home with the costs to renovate or extensively remodel the property. At closing all funds for renovation will be escrowed in an interest earning account. After all renovation work is complete, any remaining funds in the renovation escrow account will be used to pay down the principal balance of the mortgage.
Highlights/Guidelines:

• If it is for the purchase or refinance of your primary residence you may be able to put as little as 5% down with a minimum credit score requirement of 700.
• Investor loans are allowed with a minimum down payment of 25% and a minimum credit score of 740.

Wells Fargo Contact: Mark Stedina (404) 966-4355 Mark.C.Stedina@wellsfargo.com

LoanSouth Contact: Brandon Byrd (404) 915-8252 BByrd@loansouth.com

Miss Out on the Homebyer Tax Credit?

It's unfortunate when a great deal passes you by, especially when that deal involves one of the most important purchases you will ever make in your life. Well how about turning that frown upside down and looking towards the other potentially fantastic deals on the home-buying horizon. There are many invaluable reasons why now is still a great time to be a first-time homeowner. For example:

• Houses are currently aggressively priced. As we have all been witness to over the past couple of years, the real estate market can be a fickle thing which is why you need to take advantage of the ultimate buyers market while it lasts. America's gradual economic recovery will eventually decrease the opportunity for a "great buy" - a deal that is more possible in a market such as we are seeing today.

• The gap between renting and buying is narrowing. A national study for the Associated Press, conducted by Marcus and Millchap Real Estate Investment Services, reports that the difference between monthly rents and mortgage payments is at a median gap of only $256, with some parts of the country only seeing a difference of $100. Now that's a powerful reason to get out of renting and put your money towards something you can call your own.

• Historically, there is no better long-term investment than a home. As President of the National Association of Realtors, Vicki Cox Golder, states simply, "housing is shelter that provides social benefits and is also a good long-term investment." Why wait to change your life for the better?

It's important to keep these facts in mind when considering whether or not to participate in the home buying process right now, especially as a first time buyer.

Sign up for Red Robin Group's FREE First Time Home Buyer's Seminar

Red Robin Group Gives Stony Point Park a Bird-Friendly Facelift

Last summer, Red Robin Group adopted Stony Point Park at the corner of Woodland and Confederate Avenues here in Ormewood Park as an opportunity to give back to the neighborhood.

Our last clean-up date on Sunday, July 25, included some much needed additions to the park in the form of colorful birdhouses and birdfeeders. Red Robin Group partnered with the folks at the East Atlanta Kids Club on a birdhouse- and birdfeeder-painting evening for the young people in the summer program there. Now when you drive by the park, maybe you'll see a few more of our fine-feathered friends enjoying their newly renovated (and some newly constructed) homes.

Red Robin Group tears into the park at least once a quarter for a good, thorough clean-up. Right now, we're looking for a few more resources and volunteers who can help us keep it looking a little more spiffy year 'round -- especially in the spring and summer months. So if you find you've got a few extra plants, mulch or other gardening items left over after a weekend spending craze at the garden store -- or perhaps a dependant or two with a few extra hours on their hands on any given Saturday -- we'd love all the help we could get.

For more information about our next big cleanup, or to volunteer, contact Chelsea at 404-254-5206 x8.

To learn more about adopting a park in your neighborhood, visit http://www.parkpride.org.

And for more information about how you can help enrich the lives of the young people in our community through programs that enhance their education, creativity and social skills, please visit http://www.eastatlantakids.org.



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Have Birdhouse, Will Paint

On Thursday, July 22, 2010, Red Robin Group helped out with the East Atlanta Kids Club Birdhouse Project.

Plenty of birdhouse and bird feeder kits were on hand -- along with lots of paint and brushes -- for each and every kid to make their own unique work of art. See more pictures.

Red Robin Group will hang the final pieces in Stony Point Park this Sunday, July 25 from 5:30pm to 7:30pm during our regular quarterly park cleanup.

To learn more about how you can make a difference in a young person's life in East Atlanta, visit http://www.eatatlantakids.org.

For more information on park adoption in the greater Atlanta area, visit http://www.parkpride.org.

Full Credit Screens Now Being Ordered Hours Before Closings

By Kenneth R. Harney -- Saturday, May 15, 2010

If you're thinking about applying for a home mortgage, here's some important news: Beginning June 1, your lender is likely to order a second full credit screening immediately before closing.

The last-minute credit report will be designed to find out whether you have obtained -- or even shopped for -- new debt between the date of your loan application and the closing. If you've made applications for credit of any type -- for furnishings and appliances for the new house, a car, landscaping, a home equity line, a new credit card, you name it -- the closing could be put on hold pending additional research by the lender.

If you've actually taken out new loans that are sizable enough to affect the debt-to-income ratio calculations used in your original mortgage approval, the whole deal could fall through. The added debt load could render you ineligible for the mortgage because you suddenly appear unable to handle the payments without a strain on your household budget.

The June 1 changes are part of a new effort by mortgage giant Fannie Mae to cut down on slipshod underwriting by lenders and fraud by borrowers. Fannie's "loan quality initiative" will require lenders not only to pull two credit reports for each mortgage transaction but to perform additional verifications of borrower occupancy plans for the property, Social Security numbers and Individual Taxpayer Identification Numbers.

"There's an almost irresistible urge" for many mortgage borrowers, said Don Unger, chief executive of Advantage Credit of Evergreen, Colo. "The lender says, 'Okay, you're approved for the loan,' and you immediately think about shopping for all the things you need for the house. You go to Home Depot" or other major retailers, "and you put in an application."

In the past, that might not have raised an eyebrow -- or even been detected. But under the new double-check policy, when the Home Depot application shows up as a "hard," or borrower-initiated, inquiry on a credit report, Unger said, the lender "is going to have to contact" the merchant and determine whether credit was extended, in what amount, and how this might affect the applicant's home financing transaction.

Marc Savitt, president of the National Association of Independent Housing Professionals and a mortgage broker in Martinsburg, W.Va., said it's not an uncommon scenario. "Most often the new debt involves furniture or other goods for the house," Savitt said. "However, we have seen debt for new cars and other major purchases."

Terry Clemans, executive director of the National Credit Reporting Association, recalls one case in which the home buyers "went out and gorged on $40,000 worth of new furniture and all types of stuff" after their loan approval -- incurring monthly payments far beyond what they could possibly afford. Under the new policy, they would likely be shot down before closing.

Fannie Mae spokeswoman Janis Smith said lenders "will have to look for things like new credit accounts, increased credit lines, increased balances on existing accounts, undisclosed or newly recorded liens, second mortgages -- anything that may have changed since initial application that might impact a borrower's debt-to-income ratio."

As a practical matter, some lenders are likely to ask their credit reporting vendors to perform the actual investigations when new debts or inquiries pop up on borrowers' files. Fannie Mae's instructions say that "lenders must determine that all debts of the borrower incurred or closed up to and concurrent with the closing" are considered in the final loan analysis.

Unger, however, said all this may not be as straightforward as it sounds. For example, if the credit report is pulled immediately before closing to comply with the "up to and concurrent" requirement, there may not be sufficient time to check out inquiries -- especially those in which no actual drawdown of debt has been reported to the national credit bureaus. He also questioned whether entire loan packages might need to be re-underwritten -- a time-consuming process -- based on credit data discovered at the eleventh hour.

In that event, poof goes your closing.

How should home buyers and refinancers prepare for the new credit check procedures? Lenders and credit reporting company executives say everybody needs to follow just one basic rule: abstinence. Between your application for a mortgage and the date of closing -- which might be a span of 45 to 60 days or more -- resist the irresistible.

Don't apply for new credit unless you discuss it in advance with your lender and get a green light.

A Quick Glance at Our Neighborhood Involvement

As neighborhood residents, we feel strongly about giving back to the communities where we serve.

This year, we're glad to have been given the opportunity to help out with Grant Park Cooperative Preschool's fund-raising auction on Saturday, March 6. The event this year involved silent and live auctions featuring one-of-a-kind art from local artists, vacation giveaways, restaurant gift certificates, retail items, and anything else you could imagine. Red Robin Group sponsored a champagne pour where one lucky champagne-drinker even won a diamond.

On Saturday, March 20, Red Robin Group participated in Neighborhood Charter School's and Atlanta Charter Middle School's "Go Green" auction with a first-time-ever "Balloon Pop" at our booth. Rafflers paid $5, $10 and even $20 a "pop" for a chance at donated gift certificates, DVDs, baked goods and more. We sold ALL 85 of our balloons, and raised over $1,500 in our little section of the festivities where, collectively, over 800 people attended and bid on art, retail goods and more.

Our next neighborhood support event will be participating as a major sponsor of the East Atlanta Kid's Club at their annual Brownwood Bike Rally & Run on Saturday, May 15. This annual event in East Atlanta's Brownwood Park draws kids and adults who participate in street bike and Cyclocross-track races, a 5K Run/Walk, and other cycling- and fitness-related activities. The event also includes a jumping castle, a freestyle stunt bike show, a food court, crafts and other fun activities to entertain the whole family. All proceeds benefit the East Atlanta Kids Club, an after-school mentoring and enrichment program for promising youth.

Red Robin Group Launches New Virtual Tour Site

In March we rolled out our much-improved virtual tour site. Not only does our new, improved interface look cleaner, it is much easier to navigate, and our new provider allows us to post higher-quality photos of your home.

We know, we're techno geeks and we get uber-excited by stuff like this, but ultimately we feel that creating our virtual tours in-house allows us to give our sellers the highest quality marketing possible.

This is our goal and we're constantly looking for improvements to get your home sold as quickly as possible.

Go check out all our geeky improvements at birdhousetours.com. We'd love to hear your feedback!

Changes to FHA Lending Announced

FHA has recently announced significant changes to FHA loans:

1.  The initial upfront MIP will increase from 1.75% to 2.25%, effective for any FHA case numbers issued starting on April 5, 2010.

2.  The holding period of 90 days for a seller (to an FHA purchaser) has been waived for contracts executed on or after February 1, 2010. This applies to foreclosures and investors (still reviewed on a case-by-case basis).

The following changes will go into effect in the summer of 2010, because they must go through an official approval process, including publication in the Federal Register:

1.  Borrowers will need a minimum credit score of 580 to qualify for the maximum loan percentage with only 3.5% down.

2.   Borrowers with less than a 580 credit score will be limited to a maximum of 90% financing (10% down).

3.   Seller concessions will be limited to 3%.

The Homebuyer's "Ten Commandments" When Applying for a Home Loan

Have you noticed those new HRBlock commercials that show people asking those crazy but sincere questions like, "Can I claim my 30-year-old son as a dependant?" or "Do I get to write off my dining room table as a business expense?"

If you've got those same questions about the home buying process, we've got some solid answers on what NOT to do. Even if you've already owned a home and are ready to start looking for your next place, here are some very important "DO NOTs" to take into consideration:

1. Thou shalt not change jobs, become self-employed or quit your job.

2. Thou shalt not buy a car, truck or van (or you may be living in it)!

3. Thou shalt not use charge cards excessively or let your accounts fall behind.

4. Thou shalt not spend money you have set aside for closing.

5. Thou shalt not omit debts or liabilities from your loan application.

6. Thou shalt not buy furniture.

7. Thou shalt not originate any inquiries into your credit.

8. Thou shalt not make large deposits without first checking with your loan officer.

9. Thou shalt not change bank accounts.

10. Thou shalt not co-sign a loan for anyone.

If you have any questions at all about whether or not something could affect your ability to buy a home, please contact us first. We'll be happy to help!

Job Specialization: Red Robin Group's Secret to Success

How does Red Robin Group do what we do, and do it well? Just like any other successful business, our strength lies in job specialization. When you hire Red Robin Group, you’re really getting FIVE professionals for the price of one:

Melissa Wakamo, Listing Specialist
When you call Red Robin Group to list your home, you’ll speak with Melissa about your motivation for selling and how factors such as your home’s condition, your location and most importantly, your price point factor into the equation.

Rob Smith, Marketing Specialist
After speaking with Melissa, Rob’s job is to ensure that a custom marketing plan is ready for your home that ensures maximum exposure to the right target audience.

Will Rumfelt, Marketing and Administrative Coordinator
Once you decide to list your home with Red Robin Group, Will’s job is to execute Rob’s marketing plan and to manage any changes or updates during the course of your listing.

Jan Sykes, Client Service Manager
After Will completes the execution of your marketing plan, Jan continuously cross-sells your listings to real estate agents, provides you weekly agent/prospect feedback, and supplies you with proactive “next-step” advise as the market changes. Once we go under contract, Jan also manages the contract-to-close process.

Christina Rumbaugh, Buyer Specialist
Last but certainly not least, Christina’s sole responsibility is to work with all Red Robin Group's buyers and buyer prospects. This ensures that every single call, email or any other inquiry for your listing is promptly and aggressively followed up with.

With this team model, we’ve been able to become the number one agent team in Grant Park, Ormewood Park and East Atlanta in 2009.* And we’re excited about growing our team in 2010 to serve our clients even better.

*Based on past 12 months’ combined, total closed volume data compiled from FMLS.

Why Surveys Are Important When Purchasing a New Home

A survey of your property marks the boundary lines of your little corner of the world. It also shows easements, utility pipes, fences, walls and other potential encroachments which may affect the property or the dwelling. A survey will also show whether driveways are located completely within the boundary lines of the property and whether the structures on the property encroach upon building lines or neighboring properties.

When you go under contract to buy a property in Georgia, your closing attorney or lender may ask if you’d like a survey performed. This is usually a value-added service they provide, as most lenders no longer require a survey to be purchased as a part of the loan transaction. But, because lenders no longer require a survey, many purchasers do not think they need a survey.

The reason that lenders in Georgia no longer require surveys is due to the fact that the lender’s title insurance policy now insures most survey risks to the lender, therefore any problem a survey would have shown is covered in a lender’s policy. But hang on -- this is not true of the owner’s title insurance: the enhanced owner’s policy does provide some survey coverage, but is subject to a deductible and a maximum loss limit of $25,000. With a survey, there are no limits on coverage.

Often, a purchaser may think that a title exam will reveal any problems, and that the survey is just redundant. This is not true. A title exam may show the existence of a sewer easement, but it will not show that the easement runs directly through the house. Also, title examinations do not reveal fences, walls, and improvements that might sit on or over the property line, or violations of building lines or encroachments onto neighboring property.

Bottom line, if you’re buying a property in Georgia, it’s always a good idea to request a survey be completed before you go to the closing table. Having a survey in hand before the property closes makes it easier for you to address any concerns about the property when it’s still the SELLER’S problem to solve, rather than after closing when the seller no longer has an interest in the property.

If you’d like more information on why it’s important to get a property survey as part of a real estate sales transaction, contact a Red Robin Group Real Estate Services agent today by calling 404-564-2634 or by emailing info@redrobingroup.com.