Happy Holidays From the Cowan Connection Team in Atlanta

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale

We wanted to take a moment today to wish everyone Happy Holidays, Happy New Year, and Merry Christmas! We have our team here -- Jennifer, Tim, Jason, Heather, Lorraine, Melissa, and Louis -- today to give you a special holiday greeting. We wish you a happy holiday season to you and your family!

If have real estate needs to satisfy, give us a call or email today. We’re happy to serve you. Don’t forget to check out our blog!

What Can You Do for Fun This Winter in Cobb County?

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale

Today, I want to share the top three holiday events you must do this weekend! Let's get right to it:

1. Marietta Square Winter Wonderland. There is an ice skating rink, a Santa's workshop, and a multistory Christmas tree! They will also be holding an inaugural New Year's Eve celebration. There will be a square drop at both 7pm and midnight that night! St. Nick may even make a visit! 
2. Snow Mountain Park. You can spend a fun-filled day in five football fields worth of snow, ride down a 400-foot sledding hill, build snowmen, go tubing, or shoot snowballs. Snow Mountain Park will be open on select days through the month of February. Be sure to call ahead before you go, as the sledding area fills up fast!
3. Visit the Atlanta Botanical Gardens. Right now, you can see their Garden Lights, Holiday Nights display they have with over one million lights, a tunnel of lights, orchestra of orbs, radiant rain forest, and model trains. It runs through January 9 and is open from 5-10pm nightly.

If you would like more fun-filled, family-oriented holiday activities, please don't hesitate to call or email me. I would love to hear from you!

Don't Miss the Holiday Home Selling Season

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale

A lot of people think that the real estate market freezes over in the winter, especially during the Holidays. However, this is not true, and the winter can actually be a great time to sell for some people.

Here are three reasons why this is true:

1. Buyers are very serious in the winter. They often have to buy because of a job transfer, or for tax purposes. When buyers are more motivated, you can expect a quicker sale and probably a better price for your home if they have to buy quickly. Some buyers are desperate to purchase a home because of tax reasons or because of a job transfer. This puts you in a good position as a seller. 
2. There isn't as much competition during the Holidays. A lot of sellers think that it's a bad time to sell a home, so they take it off the market. This means that your home has a better chance to stand out and sell quickly! The supply of listings increases dramatically in January, so the time to sell is now before everyone else puts their home on the market. 
3. You can sell now and we can provide you with a delayed closing or an extended occupancy so that you can stay in your home throughout the New Year.
4. We can also restrict showings during Christmas and New Years. We realize you want to spend this time with friends and family, and we believe that buyers understand this as well.

The Holidays really are a great time to sell a home, it's just that selling during this time doesn't match conventional wisdom. If you've been wanting to sell your home, please don't hesitate to contact my team. We can help you sell quickly and for top dollar!

How TRID Will Affect Buyers and Sellers

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale

Today, Harris Haley with Access National Mortgage joins me to discuss the new TRID regulations that went into effect on October 3rd. TRID stands for TILA-RESPA Integrated Disclosures. What that basically means is the government has designed something to slow the buying process down for the consumer. 

The biggest change a buyer can expect to see are the time requirements and communication changes. As far as time requirements, the government built in a minimum of three business days so that the buyer has time to see the closing statement before closing on the property. This is a mandatory three-day period so that the buyer has time to review everything.

As for communication, they now require an E-consent to be acknowledged by the borrower so that the borrower and the lender are able to communicate and send documents electronically to each other. Although it's not required, it is a good idea to set this up when you begin your loan application just so you don't have to worry about it later on in the process.

If you choose not to set up an E-consent, the parties involved will have to resort to what we call the mailbox rule. Essentially, this extends the process. There's a built-in time frame that the mailbox rule automatically allots for there to be an additional three days that need to be added on to any timing requirements.

Basically what this means is when you decide to purchase a home, consult with your Realtor. We will be able to set you up with a lender so you can get started with your loan application as soon as possible. 

Harris can still close a loan in 30 days. Access National Mortgage offers a free loan approval process prior to going under contract that allows them to close in 30 days despite the new timing regulations.

As a seller, once your home goes under contract, you need to be in constant communication with your agent. Complete all of the information with the closing attorney in order to keep the process moving. The timing regulations affect both buyers and sellers, and it's important to have a great team to work with. 

We can certainly guide you through the new TRID regulations. If you have any questions for Harris, you can contact him at 770-989-7397 or HHaley@AccessNational.com. If you have any questions for me, please don't hesitate to give me a call or send me an email! We would be happy to help you!

What Can You Do in Cobb County?

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale

Today, we'll discuss the top five things to do in Cobb County. As we approach the end of the year, relocations are picking up. I wanted to point out some great things to do in our area so that newcomers have some options. 

First off, there's the Kennesaw Mountain National Battlefield Park. This park offers over 17 miles of hiking trails, and it's a lot of fun for the family. It is the most visited National Park in the United States. Bring your pets and enjoy this great attraction. 

Up next is Six Flags! We have a Six Flags Water Park as well as the original amusement park, so take the family along for a day of fun! 

Another place to check out in Cobb County is Marietta Square. Bring the family and bring the dogs. There are farmer's markets, art galleries, and a free summer concert series. It's a great place to check out in the winter as well. There is always something going on there.

Number four on my list is the Silver Comet Trail. It's 94 miles of paved road that used to be the bed of a train track. It's a great walking and biking trail. 

The final thing on my list is the Cobb Energy Performing Arts Centre. This is a premier venue for Broadway shows, ballet, concerts, operas, and much more. Stop by and see a show when you're in town.

Those are my top five picks. For more events, check out travelcobb.org. If you have any questions, give us a call or send us an email. We look forward to hearing from you!

5 Tips for Preparing Your Home for the Market

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale

Today, we will discuss the five most important things you can do to get your house sold. 

First, the most important thing you can do is paint your house, inside and out. Fresh paint is worth every penny. Neutral grays and neutral blues are very popular right now. I recommend Sherwin Williams' Intellectual Gray or Network Gray.

The second most important thing is flooring. If you've been in a home for 20 years and still have the original carpet, then you need to upgrade. 

Next, update your light fixtures. This is an inexpensive update, but just make sure that you're consistent throughout. Don't use compact fluorescents; the lighting will not display your home well. 

The fourth thing to do is clean! Get the baseboards, windows, and behind the blinds. Do a deep cleaning of the whole house. 

Finally, hire the right agent. We're not all alike. About 90% of the real estate out there is sold by the top 10% of agents, and we were ranked in the top 10% last year. Make sure you have an agent who will market your home correctly. 

If you have any questions about preparing your home for the market, give us a call or send us an email. We'd be happy to offer any suggestions to sell your home quickly and for top dollar.

The Biggest Misconception About the Buying Process Here in Atlanta

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale

Today, we discuss the common misconception that you need to be able to put 20% down in order to purchase a home.

There are many loan programs out there that will allow you to put less than 20% down. Conventional loans offer programs for as little as 3% down, which is the lowest possible. Conventional also allows for you to put 5%, 10%, 15%, or even the whole 20% down, which is nice because you can choose whatever amount you can comfortably afford to put down.

The FHA program allows you to put only 3.5% down. This is a great loan option because there is a grant program that will get you the whole 3.5% for you and could even cover as much as 5% of the loan. With this grant, you don't have to pay the money back, and the options range from 3% to 5%. You can use the money for your down payment, closing costs, or anything else needed to get into the home. The program is called NHF Platinum, and we highly recommend looking into it!

If you would like to speak with our preferred lender, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to hear from you!

What Does New Construction in the Atlanta Area Mean for You?

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale

Today's topic is new construction and the effects it has on the real estate market!

We've had a very strong sellers market here in metro Atlanta lately. Inventory has been extremely low because there wasn't much new construction from 2009 to 2013. In recent years, however, we've seen a lot of new construction and the Atlanta area market is coming back pretty strong. Here are some of the numbers for Cobb County:

• 62 homes have been sold in 2015 that were built this year
• There are currently 266 homes built in 2015 active on the market
• This uptick in new construction is balancing out the Atlanta area

There is a huge difference between the average price point for new construction homes and resale properties. For example, the average sales price for a newly constructed home in Cobb County is $397,000, whereas the average price range for resale properties is significantly lower. We're thinking this influx of quality inventory will effectively balance out the market here in the Atlanta area. These new construction projects will free up the inventory for people in all price ranges, which is always good news for our market.

If you have any questions about current market conditions, or if you need real estate assistance of any kind, give us a call or shoot us an email. We would love to hear from you!

What is the Difference Between an Inspection and an Appraisal?

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale

Today we'll be speaking about the difference between a home inspection and a home appraisal. Both have different functions in the buying and selling process, so it's important to know the difference. 

A home inspection is done by a professional home inspector, and this person will go through a property to check on the roof, plumbing, air conditioning, water heater, and other vital systems in the home. This protects buyers from purchasing homes with major problems. If the inspector finds something, the buyer will be notified and the agents will have to come to an agreement on how to fix the problem. 

An appraisal is done by someone that's employed by a bank. This person ensures that the bank is not overpaying for a property by visually inspecting the property. They just want to make sure the price is right for the property, and they do not actually examine the furnace, roof, or any other pieces of the infrastructure.

If you have any questions about this, please don't hesitate to contact us! Also, don't forget to reach out to us with questions because we'll answer them in future videos!

Why Can't You Trust Zillow When Searching for Your Home's Value

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale

 
More often than not, people check online home evaluation sites like Zillow before they meet with an agent. Today, we answer the questions we hear all the time: "How accurate are Zillow's Zestimates?" and, "Can they be trusted?" 

The short answer is they are not very accurate at all. In fact, in Atlanta, they're off by more than 35% on average. Also, 65% of their estimates are more than 5% off, which can be thousands of dollars in a transaction. 

Zestimate's are made using information from tax assessments, homes that are currently for sale, and homes that have sold recently. Things like square footage, land value, and home value are the major items that are compared to come up with a Zestimate. They don't take specific details about your home's location and upgrades into account. This means Zestimates are often thousands of dollars over or under the actual value of your home. 

At the end of the day, buyers and sellers are the ones who make the market value of a property. In order to get the accurate value, you need to have a real estate professional come and take a look at the home in person. 

If you want to find the true value of your home, or if you have real estate questions of any kind, give us a call or shoot us a quick email. I would love to hear from you! 

How to Take Advantage of a Multiple Offer Situation

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale 

Now is a great time to be a home seller in Atlanta. Inventory is low and this is creating multiple offers on homes that are priced well and also in good condition. Almost 22% of our listings have had multiple offers in the past 2 years.

We always suggest for you to be patient when you're getting offers on your home in Cobb County. Don't jump on the first offer, because there could be more willing buyers that would make a better offer. 

Taking a good look at the buyer's financing is also important, especially if you're trying to sell your home for top dollar. However, selling your home for the most amount of money isn't always the top priority of our sellers, so choosing the highest offer isn't always the best way to go.

Perhaps you need to sell quickly and want a cash buyer, but your cash buyer is offering a little less for the home? In that particular situation, the lower offer may be the better offer. 

Sometimes the best offer is also your most convenient offer.

If you have any questions or concerns about this issue, please don't hesitate to contact us. We would love to help you with your buying or selling needs!

How to Handle Multiple Offer Situations in Cobb County

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale 

We have a very low amount of inventory here in Atlanta, and we're seeing a lot of multiple offer situations because of this. 

If you're a buyer, you need to remember that the highest price isn't the only way to win a bid on a new home. Sometimes sellers will pick the most convenient offer with the best terms, and not the offer with the highest price. Things such as the strength of your financing, your closing period, the inspection period, and whether or not you have a home to sell can all be used as bargaining chips to make your offer stronger. Cash is not always king.

In some cases writing a personalized letter to the seller can help. This is a good way to make an emotional appeal to the seller, and they will be more comfortable picking your offer over others because you're no longer just a number, you're a face with a story and a reason to buy a home. 

It's also crucial for you to be pre-approved before you make an offer, otherwise the seller will likely not even give you a chance. This is absolutely essential in our current market. Please ask us about our preferred lenders if you do not already know a good one.

Besides a good lender, you will also need a good buyer's agent. This person will need to know the ins and outs of our local market, and you should know that our agents have a wide knowledge of the Cobb County market. We would be more than happy to help you find a good home. Feel free to reach out to us at any time. Now is a great time to buy a home!

Cobb County and Metro Atlanta Real Estate Market Update

Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale 

We're currently in a seller's market with 4.2 months of inventory in the Cobb County and Metro Atlanta area. There is a divide at the $500K price point, where below that price point is a seller's market and above it is a buyer's market. 

Overall there is a low supply of inventory on the market and we're seeing homes sell in 62 days on average. Our inventory is sitting at 4.2 months right now, so when a great home comes on the market it is selling very quickly. If you're looking to sell, then now is a good time to do so. You just need to make sure your home is priced right and in good condition.

However, it's also a good time to be a home buyer. Interest rates are extremely low, and this will save you thousands of dollars over the lifetime of a loan. Be sure to take advantage of these rates while you still can, because they won't be sticking around for too long. 

Overall it's a good time to buy or sell, so if you're thinking of buying or selling this year, please don't hesitate to contact us. We are equipped to sell your home for top dollar. The most important thing is for you to get on the market soon before the flood of other buyers get here. 

As always, please don't hesitate to contact us with any questions or concerns you may have!