Archive for the 'Miscellaneous' Category
An Update on Some North Fulton Projects
categories: Local Information, Miscellaneous
Prospect Park on Old Milton Parkway
We may soon see a completion of Westside Parkway (yeah) if the bank (Wells Fargo) that has now taken ownership of the property will release that part of the property to the city so the parkway can be completed. I suspect this will happen.
Bethany Bend High School
OK, that won’t necessarily be the actual name of the school, the final name will be fought over…. I mean decided at some point in the future. But, work has started with some clearing of trees along Bethany. It’s nothing to get excited about yet but the project will remain on track for the 2012 school year. You can follow the project along on the Fulton County Schools site and I’ll post periodic updates on this blog. The biggest question is the district lines, that won’t be decided until Fall of 2011 / Spring of 2012, just prior to the new school year.
The following are current projects by the North Fulton Community Improvement District
Windward Parkway Right-Turn Lane at GA 400 Off-Ramp
This project is projected to be completed early in 2011 and is an expansion of the Georgia Highway 400 off-ramp at Windward Parkway. The plan is to add a right-turn lane from the Windward Pkwy off-ramp to Northpoint Pkwy, along Windward Pkwy in order to alleviate congestion at that interchange. Over 168,000 cars pass through there every day.
Windward Parkway Landscaping
The North Fulton CID has granted $1.2M for stone walls and extensive landscaping at the Windward Pkwy / GA 400 intersection. Much like what was done at Mansell and GA 400. However, this is a bigger intersection and will be much more extensive, with stone walls on all four corners of the interchange. Three years of maintenance will be included with the project, then the Windward Business Association, who is partnered in this project, will take over. A great improvement for the community. Project completion should be Spring 2011.
Mansell Road Triple-Left-Turn-Lane
A triple-left-turn will be created, providing eased traffic flow from Mansell onto Northpoint Pkwy. For those of us that try to avoid the mall, you may not ever see this, but you can rest assured that your teenage drivers have easier access to Mecca 
Here are some future projects by the North Fulton CID:
- Northern Suburbs Comprehensive Transit Feasibility Study
- Encore Parkway Corridor Improvements
- Key Corridor Signal Timing
- Old Milton Parkway Landscaping
- Old Milton Parkway Streetscape
Providence Rd. / Birmingham Rd. Intersection and Arnold Mill / New Providence Intersection
I wrote about these intersections in Milton back in April. They are still on track. The federal funds are in place and the conceptual plan is completed. The city is awaiting final approval from GDOT and then work will start early 2012.
Intersection of Cogburn / Francis / Hopewell
I thought this was simply a matter of stopping the blinking light and making that traffic light operate normally, but it’s apparently more complicated than that. This intersection was approved in the recent budget for a possible re-design. This could be a round-about or simply a property traffic-light system, but the planning will begin this fall. Stay tuned….
Posted by Bob Strader | Currently 1 Comment »
Approved For Your Loan? It Ain’t Over Yet….
categories: Alpharetta Real Estate, Miscellaneous
A long, long time ago in a place far, far away….2005; the time of easy loans. You spoke to a lender and they pulled your scores, asked you some questions and said “you can afford a mortgage up to $$$”. More importantly, you were 100% sure that there were not going to be any problems moving forward with that loan. Pre-qualified was synonymous with cash-in-hand.
Lending requirements have tightened a bit and now you have to actually put money down on the home you’re buying. You have to have a decent credit score and income as well. But hearing your lender say “clear to close” a week before the closing doesn’t really mean anything anymore. That’s because last month Fannie Mae implemented the “Loan Quality Initiative”. This is to reduce bad loans and by verifying more information in a more thorough way. It places the responsibility on the bank doing the lending to verify the reliability of the borrower. But there is on particular change that can come back to bite even the most qualified of buyers.
The Last Minuet Credit Re-Check
Basically Fannie Mae requires that lenders check to see if an applicant’s credit profile changed while the loan was in underwriting. If it did change then Fannie Mae can refuse to purchase the loan which will require the bank to bear the burden with the loan on its books.
So, the bank will take your credit report and do a complete re-pull just prior to closing to make sure nothing changed, sometimes a day or two prior to closing. They are looking for new credit cards, a run-up of current credit card debt, updated or previously un-reported credit info or any major new purchases like cars, boats, etc.
Where It Gets Interesting
Regardless of the information that comes up, if underwriting sees anything they don’t like they can ask for more paperwork, deny the loan or require the process to start over from scratch. At this point, it’s usually past the due diligence period so the buyers earnest money is at stake.
So, when you’re applying for a loan to purchase a home - be smart and be prepared. Don’t do anything that will change your debt-to-income ratio, don’t apply for more credit, and don’t close any accounts. Do have access to all of your financial, work and tax information at all times (don’t pack up the house and put your files on the truck).
Posted by Bob Strader | Currently 1 Comment »
An Un-Insurable Home?
categories: Alpharetta Real Estate, Milton Real Estate, Miscellaneous, Roswell Real Estate
Well…sort of.
I learned something new yesterday and I have to admit, I still can’t believe it’s true. We have a buyer under contract to close on a foreclosure by the end of the month. Of course, with foreclosures you have the ability to perform an inspection but typically they are purchased as-is. Banks usually won’t make repairs. Prior to the closing one of the last things on a buyers list that usually gets done is lining up their home-owners insurance. By the time buyers get around to contacting their insurer we are well past all the due-diligence and contingency periods.
Shocked!
So, we all were quite amazed when the buyers insurer told them that there was a previous claim on the property for a new roof, which was paid out to the previous owner. No proof of repair was ever provided to the insurance company so the claim was still “open”. Because of this, the buyers insurer said there was pre-existing damage that had been paid on and they would not insure this home. That’s right, they would not insure the home. After checking with other insurance providers we realized that this was the answer we were going to get everywhere.
The sort of part….
What they will do is provide insurance but the repairs must be completed within 60 days of closing. We’re in the process of negotiating with the bank to reduce the sales price of the home by the amount of a new roof and we feel pretty sure that we’ll get that amended. But I have to believe there are more than a few homeowners out there who took some insurance money without making repairs. In any case, this is something that will need to be clarified during negotiations moving forward and some well crafted stipulations will be added to our contracts.
This was news to us and I thought it might be news to you. Has anyone run into this before?
Posted by Bob Strader | Currently No Comments »
Crossroads at Crabapple Antique Fest Gets Bigger and Better
categories: Crabapple, Miscellaneous
This past Saturday was the Crossroads at Crabapple antique fest and what a perfect day it was. As I understand, it was started in 1969, but I have been coming for the past few years and it really has grown into a great event that the Crabapple community can be proud of.
Apparently there were over 50 juried artists and as many antique dealers with a wide display of furniture, art and collectibles. There were also great local artists playing bluegrass and country music. Local Boy Scout and Girl Scout troops were there selling food to raise money and the Olde Blind Dog Pub was selling their famous Irish Stew and Corned Beef as well!
Crabapple continues to create a great community atmosphere with unique and original shops and restaurants. It is no surprise that many people moving into area choose to live in and around Crabapple.
Posted by Bob Strader | Currently No Comments »
Matilda’s Music Under The Pines - A Hidden Gem in Alpharetta
categories: Local Information, Miscellaneous
I’ve run into more than a few people lately who have said, “I’ve heard of that, it sounds like fun I should really go”. Well the concert series runs through the end of October so if you haven’t yet, you should really check out Matilda’s Under the Pines one Friday or Saturday night before then.
If you don’t know about Matilda’s, let me paint you a picture. Just south of Alpharetta, on Hwy 9 there are a collection of funky little cottages full of artwork, painted furniture and crafts from a wide range of local artists. Mary Jane Potter has created something you won’t find anywhere else and once you visit you’ll wonder how you ever missed it (although you’ve probably driven by it a thousand times).
Easy, Casual and Fun:The music usually starts around 8:30pm every Friday and Saturday and it’s $10 ea. to get in. There are tables and chairs or you can bring your own, along with a picnic basket of food and the drink of your choice. But if you decide to go at the last minute, don’t worry. There is great barbecue for sale - just bring your cooler and stroll on in.
This past Saturday the Barn Rats played some great bluegrass and the weather was perfect. In this economy who isn’t looking for an easy, inexpensive, fun night out? An how cool is it to relax with a glass of wine or cold beer and listen to live music being played on the front porch of a little shack in Alpharetta? I’m looking forward to hearing some blues this weekend. Oh, by the way, your dog is welcome too! If you go, let me know what you think and say hi to Mary Jane (on the right below)!
Posted by Bob Strader | Currently 1 Comment »
The Coolest Penthouse in America
categories: Miscellaneous, Stuff I like to talk about
No, it’s not in Atlanta but you have to see this, just for fun. It’s quite possibly the coolest penthouse you’ll ever see and only $25 Million! It’s located in Brooklyn’s Clock Tower building and has four 14′ synchronized clocks so you never have to set your watch. If it wasn’t so sleek, clean and modern it would be the perfect bad-guy hang-out in a Batman movie.
Now here is whats really interesting…it’s listed at more than double the highest price known to have been paid for a home in Brooklyn and more than triple the price of any condo sold. This penthouse is a 6400 sq. ft. triplex with views of the city skyline and the Brooklyn skyline. Is it worth it? I have no idea, but I know this. When you have something nobody else has, something really cool, then you can charge for it. I’ll be interested what it sells for, if it sells. If you had the money, would you buy it?
Posted by Bob Strader | Currently 1 Comment »
Snow Mountain Brings True Winter Experience to Atlanta
categories: Miscellaneous, Stuff I like to talk about
There is nothing more pathetic than a southern child hoping and whining that they want snow.
As a parent, particularly one who grew up in a "snow state" and who has the childhood memories of sledding, making snow forts, having snowball wars and, of course, bumper hitching , you feel like you are depriving your children of critical childhood experiences by living in the South. It isn’t made easier when at the sign of each snow flurry they ask: "Is it going to stick? Huh, Dad? Huh, Dad?"
Well, Stone Mountain has taken a bit of the adult guilt away with the introduction of Snow Mountain . It has been pretty cold, by Atlanta standards, the last couple of weeks, so last Sunday we scrounged every bit of warm clothing, every mitten, glove and hat and every piece of footwear that might pass as a snow boot and headed to Snow Mountain. My son wore his lacrosse cleats; effective, but not particularly warm!
We didn’t know if we would find two inches of snow or two feet. Being the guardian of dashed expectations, I warned the kids to expect very little actual snow. This is Atlanta after all. I think one of my daughters actually thought there would be snow on THE Stone Mountain itself and you would tube off the sides. That would be a heck of a ride, albeit probably your last ride.
Snow Mountain is no where close to the scale of the indoor ski areas that are so laughable in the Middle East - like the grotesque one in Dubai (financed by the American oil consumer) pictured above. However, Snow Mountain is a gallant effort at giving the kids a "snow experience."
It is essentially a tube run (seven lanes wide) down the slope of the lawn where they hold the firework displays in the summer. Jeff Davis, Bob Lee and Stoney Jackson overlook the scene from the face of the mountain. At the bottom of the tube run is a play area where kids can make snow castles, shovel snow and have snowball target practice.
Having grown up in Colorado where we have actual snow and mountains, I was a little skeptical when the family was planning the trip…probably a waste of time I thought…and everyone would get wet and cold because we really don’t have the right clothing. When we came around the corner on Highway 78 and you get the panoramic view of Stone Mountain I joked to the kids that it wasn’t snow capped!
These are our pictures from our Snow Mountain visit:
Our trip turned out to be really fun, though. It was the most snow/ice that the kids has seen in one place before and they loved it. The line for the tube run is excruciatingly long, but the tube run itself is a blast. We went from 4:30-6:30 (You can only buy a ticket for a two-hour time period), and the sun went down and the hill got very icy, as the temperature was in the high 20’s when we left.
In typical 21st century style, you are conveyed to the top of the hill by a moving sidewalk. It is all very controlled so that not too many people are on the tube run at one time. It’s not like in our childhoods where you got as many rides as you were willing to run - and eventually walk as you got tired - back up the hill. When we first got there the line for the tube run was an hour long. Later it was down to 20-30 minutes. We only got in three tube runs; however, in the only thing that matters, the family tube race, Dad won! Weight has its advantages.
Snow Mountain was a strange combination of southern accents and snow; lots of hunting clothing and not much gortex; and, parents who knew better and kids who didn’t. That is why it was great.
Posted by Kevin Warmath | Currently 2 Comments »
It’s Time to Make Our Real Estate Resolutions | Quality Brokerage, Statistical Reporting and Direct Foreclosure Search
categories: Alpharetta Real Estate, Announcements, Cherokee County, Miscellaneous, Self Promotion, Stuff I like to talk about
ALPHARETTA - This is the time of the year when we are resolving to make the coming year better than the past year.
No industry is more in need of improvement than the real estate industry (including the auto industry), both in terms of overall market conditions and in the way the industry functions (or dysfunctions depending on your perspective).
The big, national brokerage franchise is one of the elements of the real estate industry that I believe needs revamping and may be headed the way of WaMu, Bear Stearns and the Tyrannosaurus Rex. That is why earlier this year, I resolved to ditch the franchise model for the boutique model. The good news is now at the end of the year I have one less resolution to make and less change to make in the new year.
The currency of large brokerages is agents: Agents bring in the listings and buyers and earn the commissions that keep the lights on. What’s happening is that brokerages are losing their currency as agents drop out of the industry because they are not making any sales. And those agents who are still making a living are looking for more bang for the commission split dollar - or a lower commission split altogether. I’ve written before on this blog about the lack of real value a large brokerage provides to an agent who can already generate business.
Brokerage currency is dwindling. In 2008, the Cherokee Association of Realtors, of which I am a member, lost almost 35% of its members. I’ve heard it rumored that the Atlanta Board of Realtors has lost a similar amount as I’m sure other local boards have, too.
So why, then, do I sound almost happy about this?
First of all, I believe in the survival of the fittest (which is also why I try to stay fit!). The market conditions have forced some much needed fat trimming in the agent ranks. However, the real source of my happiness - and it is relief more than happiness - is that I’m not on a sinking brokerage ship any more. My new local broker, Maxsell Real Estate , is riding high in the water, which I attribute largely to embracing technology to run our business more efficiently, to having aggressive, fair compensation plans for agents, but mostly to understanding how to add value to an individual agent’s business.
In 2008, when the numbers for almost all Atlanta real estate brokerages where heading south, Maxsell’s numbers actually improved. We had 184% growth in the number of transactions over 2007 and there was 120% growth in the dollar volume of transactions.
We added, yes added, agents during 2008 (I’m an example of that) and ended the year with 40% more agents when most brokerages where losing agents. Our gross commission income was up 15% over last year. These statistics left Maxsell as the #8 brokerage in our sub-market, ahead of companies you may have heard of like Re-Max and Jenny Pruitt, and we are a small company!
While it is a relief to me to be affiliated with Maxsell, it should also give you comfort and confidence that Warmath Real Estate is part of a team that is figuring out how to survive and thrive in a real estate industry that is rapidly changing.
One of our strengths and one way we have continued to succeed in this market is our web presence including this blog. While my first resolution of putting our business on a sound brokerage foundation is complete, there are many resolutions I have about continuing to build and improve this website.
Real Estate Intelligence Portal
I actually wished to have most of this complete by the end of this year, but things always seem to take longer than expected. None the less, advances you will see in the coming month or so are a Real Estate Intelligence portal for Atlanta Real Estate reporting and statistics. What this means for consumers is that you will be able to come to this site and see updated, current reports and graphs of local market statistics, but more excitingly, be able to generate your own report and slice and dice the data based on ways that are meaningful to you.
Direct Foreclosure Search for Alpharetta and Atlanta
The second major improvement I’m resolved to for 2009 is the unveiling of our foreclosure search feature. It is currently not possible for a consumer to search online for foreclosures, shortsales and corporate owned properties as listed in the MLS. Agents can do it, but consumers can’t. The closest thing to it is something like RealtyTrac, a subscription service which is not pulling data from the MLS but rather cross-referencing various public sources of data including tax records. I plan to fix all that and allow you to directly search for foreclosures from the MLS. That’s what you want, right?
So, stay tuned as we step into 2009. We don’t fear the future, we create the future right here on this website!
We look forward to serving you in the coming year and being here when you need us. Happy New Year! Let the opportunities flow!
Posted by Kevin Warmath | Currently 1 Comment »
