March 30, 2011
New luxury apartment building in the works for Buckhead..
It appears the confidence level is increasing with investors as the latest trek into the luxury apartment market is gearing up for a new project in the Buckhead area, a magnet for Gen Y workers. Preserve Properties, LLC has the site located at 92 West Paces Ferry Rd. under contract with plans to develop a new 8 story luxury Buckhead apartment building. The multi-family development will stand adjacent to the two year old St. Regis Atlanta hotel and residence.
“We’re certainly not talking about developing a new apartment building by the end of the year,” Preserve Properties developer Draper said. “We’re only getting the property into [zoning] compliance.”
The developers are hoping to expand on the special public interest zoning district, known as SPI-9, that will encourage ‘walkability’ in Buckhead, helping to transform the traffic jammed streets, and aging strip malls into a more connected and friendly Urbanscape.
“I think this kind of project is exactly what we want to see,” said Denise Starling, executive director of the Buckhead Area Transportation Management Association, or BATMA.
According to Starling, a new mid-rise apartment building would complement plans for a new ‘international district’ that would include foreign consulates, office building, and a mix of residences all linked by expanding sidewalks and dotted with streetside shops and cafes.
March 17, 2011
TOP 7 FORECLOSURE MYTHS for ATLANTA HOME BUYERS & THEIR TRUTHS REVEALED
TOP 7 FORECLOSURE MYTHS for ATLANTA HOME BUYERS & THEIR TRUTHS REVEALED
I am often faced with the same questions and “myths” from home buyers in regards to Atlanta foreclosures. Its quite interesting how far these myths have spread over time and how inaccurate some of them are……I’m going to debunk a few of the common myths that seem to be circulating among consumers.
Myth #1: Foreclosed properties are always in bad neighborhoods.
THE TRUTH: In the current economic climate, every community and every part of town can contain foreclosed properties, with abodes ranging from modest town homes to extravagant vacation escapes appearing on the market. The economy has hit ALL areas and the result is a bunch of Atlanta Foreclosures and Atlanta Short Sales.
Myth #2: Foreclosed properties are usually in poor condition.
THE TRUTH: Though this isn’t always the case, there can be significant maintenance and structural issues hiding behind an attractive and seemingly well-tended façade. Most foreclosed homes show significant cosmetic work (dingy carpets, poor paint, lack of appliances, etc), but the more costly items will tend to be in your roofs, structure/foundation and mechanical systems.
Do your research and use a Atlanta Realtor before purchasing any foreclosed property. They will be able to connect you to the right contractors for proper estimates and be able to establish how much deferred maintenance will affect your bottom line!
Myth #3: A foreclosure sale takes advantage of the owners.
THE TRUTH: At the point of foreclosure, the owner has already defaulted on their loan. Its too late to take advantage of the owners, the property now belongs to the bank who is now the new owner. Had you purchased the property as a short sale (one of the hardest and most misunderstood items in real estate right now), you STILL would have been helping the owner get to a lesser degree of default and in the end helping them.
Don’t feel bad for the owner. While the situation is not ideal and it shouldn’t be wished on anyone. With the proper adjustments and credit repair, people who have gone into foreclosure can buy another home again in about 3-7 years depending on their situation.
Myth #4:Financial irresponsibility is always the source of foreclosure.
THE TRUTH: All it takes is the loss of a job, an unexpected health issue, or other life emergency to put a previously solid financial picture in jeopardy, and coverage of such major expenses as mortgage payments can easily be impacted. There may be some people taking advantage of the time, but that is not the case for everyone. Each Atlanta Foreclosed home has is own unique individual situation.
Myth #5: Foreclosure guarantees bargain pricing.
THE TRUTH: Banks sometimes have up to 15-20 offers on them just because they are labeled the Scarlett Letter “f”. Just because it says foreclosure, looks like a foreclosure doesn’t mean its priced like a foreclosure.
Before falling completely in love with what looks like a can’t-miss deal, be sure you know the property’s true market value so you’re not paying for more house than you’re getting. I have found that in today’s market, Mr. and Mrs. Seller tend to have the ABILITY to budge on their pricing versus the banks whose asset manager has a reserve they HAVE to meet and 15 offers on the table that they get to pick from.
Myth #6: A lower price equals higher equity.
THE TRUTH: This is one equation that won’t pan out if a property involves unpaid taxes, mechanics’ liens or an expensive string of repairs, all of which subtract from the equity and add to the cost. In any foreclosure purchase, BE SURE to get owners title insurance. This will protect you from any encumbrances on title prior to you owning the property. Its a one-time fee that could end up saving you a fortune.
Myth #7: AS-IS Means I have to buy it no matter what.
THE TRUTH: As is means, the property is sold “AS IS” with no repairs made by the seller. HOWEVER, this does NOT mean you are not entitled to an inspection. If you find something on the inspection report that scares the dickens out of you, the seller will NOT make any repairs, but you are still entitled to back out of the contract during your due diligence window and/or inspection period without penalty. Making sure you have a qualified Atlanta realtor that knows the “ins and outs” of foreclosures is KEY to your success in this purchase.
While this is just a small sampling of some of the common Atlanta Buyer foreclosure myths, there are many others to be weary of…
For MANY other tips, tricks and tactics to WIN in today’s Atlanta Real Estate Market, call me at 678-463-3173 or visit www.SeasonsRealtyGroup.com!
March 2, 2011
THE TOP 7 FORECLOSURE MYTHS for ATLANTA HOME OWNERS & THEIR TRUTHS REVEALED….
THE TOP 7 FORECLOSURE MYTHS for ATLANTA HOME OWNERS & THEIR TRUTHS REVEALED….
I come across some of the same questions and “myths” from home owners over and over about Atlanta foreclosures. Its quite interesting how far these myths have spread over time and how inaccurate some of them are……I’m going to debunk a few of the common myths that seem to be circulating among consumers…
Myth #1: The bank really wants your home back.
THE TRUTH: Believe me, the LAST thing the bank wants is your home back. It’s important to understand that the banks are not brokers, property managers, or agents, and they do NOT want that business. It’s not your home they want, BUT THE MONEY LENT FOR ITS PURCHASE that they want to recover. Foreclosure is a time-consuming, last-resort process for banks, and most will do everything possible to work things out with a homeowner in order to avoid it.
Myth #2: Filing for bankruptcy stops a foreclosure.
THE TRUTH: This one stumps everyone. First, you have to look into the different types of bankruptcy and what you will find is that they vary as much as the color of socks in a sock drawer. While many think they can “cheat” the system this way, bankruptcy creates only a temporary delay in the foreclosure process, so using it as a strategy for stopping it altogether will ultimately fail.
Myth #3: The Atlanta Home Owner is NOT Responsible for Paying the Bank’s Legal Fees.
THE TRUTH: SURPRISE……as an Atlanta Home Owner in default, you actually are responsible for ALL THEIR LEGAL FEES. All of the details are in your mortgage agreement, so take a close look at the fine print…I think the revelations might ASTOUND you.
Myth #4: Even if I pull together the money I owe after the foreclosure process has begun, it’s too late to stop it.
THE TRUTH: : It’s NEVER to late to work out options. I have had some Atlanta foreclosures stopped the DAY it was supposed to be foreclosed on. Banks and lenders do not want borrowers to lose their homes and they REALLY don’t want another asset on their books. They consider the foreclosure option to be the ABSOLUTE last resort.
The truth is that lenders can expect MOST of the time to lose money in the foreclosure process. Even if foreclosure proceedings have begun, it’s not too late to be considered for a loan modification, short sale or other foreclosure alternative. Borrowers should contact a REALTOR® to find out what their options are as soon as they know their mortgage is becoming a difficult thing for them to pay. The best way to avoid a foreclosure is to put yourself in contact with the people who can help you along the process. YOU DON’T HAVE TO GO AT IT ALONE.
MYTH #5: The bank will take all my stuff along with the house.
THE TRUTH: All personal property is yours to take; however, fixtures, floor coverings, appliances and anything else permanently attached to the house must stay.
MYTH #6: My involvement with the property is over once the bank takes it back.
THE TRUTH: After Atlanta foreclosure, if the bank sells the home for less than you owed on the mortgage, you’ll still be responsible for the difference, or “deficiency.” What’s more, they can collect interest on that amount. A deed in lieu of foreclosure or chapter 7 bankruptcy may clear you of owing a deficiency, so consult a bankruptcy attorney if you have questions about your status and options.
AND, ONE OF THE MOST COMMON FINAL MYTHS IS…..
Myth #7: If you’re foreclosed on, you will not be able to get another mortgage.
THE TRUTH: Will a foreclosure hurt your credit…YES and it’s true that it may take a several years to qualify for a mortgage after a foreclosure, but it can be done with some effort and planning. If the default was caused by extenuating circumstances, such as a job loss or serious illness, then Freddie Mac guidelines state that the borrower must re-establish an acceptable credit reputation for at least the most recent 36 months before applying for a new mortgage.
March 1, 2011
MAJOR CALIFORNIA PRODUCTION COMPANY COMES TO ATLANTA TO FILM LOCAL REALTOR IN UPCOMING EPISODE OF HGTV’S ‘HOUSE HUNTERS’
PRESS RELEASE
Media Contact:
Brian Cowling
Director of Strategic Growth
770-757-2411
Agent Contact
Winter Baserva, Realtor®
678-463-3173
For Immediate Release
MAJOR CALIFORNIA PRODUCTION COMPANY COMES TO ATLANTA TO FILM LOCAL REALTOR IN UPCOMING EPISODE OF HGTV’S HOUSE HUNTERS
March 5-8, 2011
Realtor®, Winter Baserva, Defies Odds in a Down Market &
The Networks Are Paying Attention!
ATLANTA, GA-February 28, 2011 – A major California production company will be in Atlanta March 5-8, to film local real estate agent and wave maker, Winter Baserva, of Seasons Realty Group team of Solid Source Realty, Inc. in her second episode on HGTV’s House Hunters. The popular show, which has an average of five million viewers per episode, takes viewers behind the scenes of the emotional experience of finding and purchasing a new home. Shot over four days, the episode will be release approximately 6-8 months following shooting.
“I was approached directly by the show in 2009 because of my out-of-the-box approach to buying and selling in today’s real estate market. My original episode, Pampered Pooch, featured me and my buyers “shopping” in the Brookhaven area. Since its launch date in January 2010, it continues to run on HGTV,” said Winter Baserva, Realtor®, Seasons Realty Group of Solid Source Realty, Inc. “I’m honored and humbled to be the only real estate agent in Atlanta featured on the show TWO times, in addition to being less than a handful of agents EVER featured on the show two times.”
In a time where most agents are struggling for business, Baserva is defying the odds and has set ground-breaking records within her brokerage. “Winter’s commitment to provide exceptional service, coupled with genuine care for others, is felt by clients and co-workers during every transaction. She consistently delivers service beyond client expectations and extraordinary success continues to follow her hard work. Winter ranks in the top 1% of over 2700 Solid Source Agents in one of the most challenging real estate markets in real estate history. Achievement of this magnitude is a direct reflection of her commitment, attention to details, focus and drive. It is an honor to have her representing Solid Source Realty,” said Michele Velcheck, owner, Solid Source Realty.
She has also set records for her own personal production. “More millionaires were made during the Great Depression than any other era in U.S. History,” said Baserva. “I specialize in good deals and selling homes for top dollar. There are tremendous opportunities for both buyers and sellers in today’s market for those willing to find them.”
While buyers still have the upper hand, Baserva says her sellers are benefitting from today’s market as well. “My sellers are also seeing the benefits a down market can bring, especially if they are looking to upgrade, downgrade or purchase a second home.”
“I’m so excited about where the real estate market is heading. Unfortunately, we don’t get to see enough ‘good news’ about the housing market and I can say that I’m thrilled that I am able to be a part of how Atlanta is getting positive exposure for being the wonderful, amazing, resourceful, business Mecca that it truly is,” concludes Baserva.
It’s this type of resourcefulness and mindset that has landed Baserva a spot on a national television show for her second time. For more information, please contact Winter Baserva at 678-463-3173, winter@seasonsrealtygroup.com
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As an expert in all aspects of real estate from buying and selling to investing and REO properties, Baserva builds her business based on honesty, respect, and trust by empowering her clients with the education and tools needed to make an informed decision. Raised in Roswell, GA, and a graduate from Chattahoochee High School in Alpharetta, she moved back to Atlanta in 2007, after working for a residential brokerage and commercial developer in Florida.
Her career originally started out in communications, marketing and public relations. Baserva has previously held positions with the Miami Art Museum, Miami Children’s Museum, Grove Garden Luxury Residences, and others helping them grow their businesses through publicity management and strategic marketing campaigns. Her skills have received attention from highly-accredited publications such as Interior Design, Time Magazine, The Chicago Tribune, Atlanta Journal Constitution, and many others.
She is active in many community organizations and donates to several community causes including Center for Visually Impaired, and Smile Train, a company that gives children with clef lips a new chance at life, and Have a Heart.
Originally from Atlanta, GA, Baserva graduated from The Florida State University with a Bachelor of Science in Communications with an emphasis in Public Relations. She currently resides in Sandy Springs.
Winter Baserva's Atlanta Real Estate Weblog 