Alpharetta Cumming Lake Lanier Real Estate Blog: August 2006

Whether you are relocating, need more room, or would like to downsize, you've now decided that it's time to buy your next home. Where do you begin? Any good real estate agent should advise you to speak with your mortgage consultant before you ever begin searching for your home. Sometimes you can afford more, and sometimes less. Either way, you will not go out ill-prepared. You will feel confident knowing what you can offer, and not settle for something less, when you can make that dream home a reality.

Be cautious in finding the right mortgage consultant, as there many who will promise you the moon & stars. If you do not have someone you have worked with before & trust, then speak with your Realtor & see if they have someone they can recommend. A good mortgage consultant will be honest with you, provide you with a loan that will not make you financially uncomfortable, and will have the loan package waiting for you at closing. This is why it is crucial to find the right person, before you search for a home. Steve Thompson, with HomeAmerica Mortgage, is someone The Vanderhoff Team has come to rely on and trust. He is honest, hardworking and gets the job done. To find out more about Steve, please visit his website at www.stevethompsononline.com. Together, Steve Thompson and The Vanderhoff Team can help you make your next home purchase a great experience!

Buy, sell or hold seem to be the biggest worries of home buyers and real estate investors in the 2006 residential real estate market. After solid double-digit appreciation in many major markets the last five years, investors and home buyers alike see the brakes on growth in 2006. Where to go? Mark Nash real estate author of 1001 Tips for Buying and Selling a Home lays out where investors and home buyers can make a go it in 2006.

• Atlanta, Georgia. Below average appreciation rates that have not matched other major markets.
• Austin, Texas. Good news here, affordable housing prices attracting employers. Rising appreciation.
• Boise, Idaho. New on real estate investors radar, attracting scores of out-of-state buyers. Good profit prospects.
• Dallas, Texas. Prices creeping upward, fueling investor interest.
• Houston, Texas. Demand from Katrina transplants driving a strong market.
• Las Vegas, Nevada. Market returning to normal appreciation rates, demand stays steady.
• Phoenix, Arizona. Ignored in the boom, now being discovered by investors. Most cities here are bargain-priced.
• San Antonio, Texas. Waking from a stagnant appreciation period. Good returns projected here.
• Seattle, Washington. Good economy and low inventories offer attractive appreciation gains in 2006.
• Milwaukee, Wisconsin. Solid Midwestern values speculate-proof this burgeoning market.
  

-Courtesy of Mark Nash & Broker Agent News

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Affordable Luxury at 104 Willow Oak Lane, Dawsonville, GA 30534, Oak Forest Subdivision. Just minutes from Lake Lanier, North Georgia Premium Outlets, fabulous golf & more! This stunning home is a spacious 5 bedroom / 4 bath showplace on a full daylight basement, and is situated on a beautifully maintained 1 acre lot. If you are looking for a lot of house for your money, this is it. Smaller, new construction homes in this neighborhood are listed in the upper $500's. This picture perfect home is listed at only $439,000. Click on the address above to view the property flyer with photos, or contact The Vanderhoff Team today to schedule a showing.

If you are planning to buy a home in the Alpharetta, Cumming or Dawsonville area, you need to decide whether to buy new construction, or a resale. Due to the rapid growth of this area, new homes & communities are popping up around every corner, so you need to take a look at the pros & cons to both new & resale homes before you buy.

New Construction Homes:
The biggest advantage is choosing your basic decor: floors, cabinets, lighting, etc... Builders now offer a wide variety of selections so you don't have to do any major remodeling when you move in. Also, everything is new: appliances, roof, a/c, carpet. You should also receive a new home warranty if buying from a reputable builder. Plus, you can often choose your lot & your floorplan. Finally, many of us just like that NEW HOME SMELL!

The disadvantages would be having to break in a new house, paying a higher price and having to deal with possible construction elements in your neighborhood. The first year or two in any new home is going to see settling which will cause cracks & nail pops, as well as other construction errors that can range from minor to major in any house. This is why you always want a good home warranty on new construction. You will also have to deal with other homes being constructed nearby, the rivers of mud on your street when it rains and the new landscaping that will need several years to establish. Finally...the price. Builders rarely come down in price, at least in today's market. However, you can always guarantee an increase in price once you start getting into the upgrades.

Resales: The greatest advantage to a resale is price. You can easily see this by going into any new subdivision that has some resales as well. The resales are generally priced below the new homes. You can often get the largest floorplan, for much less than the new homes with the same floorplan. Also, the home has had time to settle and the neighborhood has had time to establish. Oftentimes the previous owner(s) have also added their own upgrades, so you are in fact getting much more for your money.

The disadvantages to resales can be the age and condition of the home. A resale can need a lot of work or require new systems, roof, paint, carpet. Some resales are not "move-in" ready. But keep in mind, this can be turned into an advantage if you are willing to put some "sweat equity" into your home and turn it into a good investment.

Bottom line: With any home purchase it is essential to determine which of these factors is most important to you. Once you have made that decision, find a good real estate agent that knows the market & area, find a good home inspector (yes, this goes for new construction too) and make sure you are getting all the information. Research is key, and that is why a good agent can help you determine what is a good investment and help you to find what is right for you.

Contact The Vanderhoff Team today and we will help you cross that bridge to success. This will be your biggest investment and that is why we want you to feel good about your next home purchase.