Santa Claus is Coming to DownTown!

Santa Claus is coming to Downtown Acworth! He will be at the Depot on Friday, December 4 from 6:30 pm - 9:00 pm. Enjoy pictures with Mr. & Mrs. Claus, eating candy canes with all his elves, and filling the streets with the holiday spirit. 

There will be a host of performances to help Santa kickoff the holiday season and Mayor Tommy Allegood will read The Night Before Christmas before the lighting of the Tree on Main Street!


Arrive at the Depot at 5:15 p.m. to schedule your picture time with the Clauses, pictures will begin at 6:45 p.m.  Time slots for pictures are limited so arrive early to schedule your picture time.

For more information visit www.acworth.org/aprd or call the Parks and Recreation office at 770-917-1234.

Banks: It's like Pulling Teeth!!!!

What ARE these banks tHinKiNg?

I just got back from driving all over the world for a bank. Why? We were countering back and forth and finally came to a verbal agreement last Wednesday. So, the listing agent sent me the banks required addendums, pretty standard. My job was to get them signed and deliver them back to the listing agent via agreed upon forms on "notice" - as stated in the standard Georgia Association of Realtors contract AS WELL AS their "standard addendum" - acceptable notice defined as: fax, email, in person or via courrier. Notice the OR? Not one was deemed preferable over the other, therefore by default, any of those forms of notice should be acceptable, right?

Well, I got an email from the listing agent stating that the bank "requires original copies signed in blue"!!!! Therefore, I would have to deliver it in person or pay a courrier to deliver it. OK, fine. I can deal with that. Ridiculous, but still. Fine.

Then, I was told the addendums were incomplete and the bank would kick them back.There were 2 paragraphs which I advised my clients not to sign, allow me explain:

• One paragraph stated that they acknowledge the property has been winterized and they will pay for it to be de-winterized for inspection. There were two blanks for the buyers to initial by this specific paragraph. 
• Since, as of the date we last saw the property, there were no signs that it had been winterized, they did not sign it.  
• Instead we wrote a statement to the fact it had to yet been winterized, and they initialed that statement.
  
• The other paragraph stated that the buyers acknowledge that the house is tenant occupied, that it is their responsibily to pursue legal action to have the tenants removed after closing, and that they have seen the lease and agree to its terms.
• First of all, the house is vacant, no sign of tenants at all.
• Second of all, we were never given a lease to review.
• Instead, we wrote a statement that it was vacant and no lease had been seen, and initialed that statement as well. 

Since niether of the statements applied, I felt it would be fraudulent to make them initial them. The buyers felt the same way.

Now they're telling me that the bank is willing to lose the deal over not signing two paragraphs that are technically lies if we signed them?

It's like PULLING TEETH to try and sell a house these days! You'd think they would like to sell all the extra houses on their books due to foreclosures.

Don't get me wrong, short sales and foreclosures are still pretty much the best deals out there right now. As long as you don't mind the headaches you may have to endure along the way. My buyers are getting a great deal: a house in Powder Springs that sold in 2006 for $354,900 and was now listed at $265,900! (And they are getting it for less than that!) Recently Chris sold a house in Bentwater for $255,000 that was appraised at $370,000!

So, yes, it can definitely be worth it, which is why I will do whatever it takes to help my buyers get the best deal. Driving around last minute, to get signatures and the meet the agent's assistant to deliver "original blue ink signature copies" is nothing compared to getting an amazing house at an incredible price. I just don't understand why the banks have to make it harder than it should be!

Since then, the house has been winterized so we did go back and sign that paragraph. But the other paragraph still does bot hold true, as I asked the agent for a copy of the lease and he said there is not one. Let's hope they don't kill the deal because we won't commit fraud : )


Well, that's my rant for the evening. Thanks for listening =)

:D ianne

Earnest Money?!? I Earnestly Want to KEEP My Money!!!

Questions regarding Earnest Money have come up quite a bit recently and I realized that too often, we take for granted the terms we use in Real Estate and don't realize that clients may not fully understand what we mean. Therefore, I commit to explain as many of these ambiguous terms as possible. I hope this helps you make the best most well-informed decision possible for you and your family. These informative posts will be among our new, more casual posts we have decided to include as well...






We apologize for our extended absence from these pages. We have spent the past few months sorting out chaos! In the midst of it all I had more blog ideas come to mind about family, adoption and holding onto your faith during hard times than I did Real Estate. So I felt the need to abstain from writing. Then I realized, this crazy family life is part of who we are! The Dunn Team is a Husband and Wife team! We are Parents as well as Realtors. Therefore, from now on our blog will consist of a smorgasbord of posts, ranging from posts about family, faith, and adoption (something new we are smack in the middle of....more about it later) to posts about local sales, and community events, as well as Real Estate terms, news and updates. We hope you enjoy our new format and that it helps you learn about Real Estate in your area so you can become well-informed Buyers (and Sellers) while you get to know us better as Realtors. You will get to see behind the professional veil to see who we really are and what we are about. We realize some may find this unprofessional, but we decided to no longer concern ourselves with the way others feel we should do business, but focus instead on how we feel led to do so. We'll begin our new series with an in depth look at Earnest Money.

First of all, What is Earnest Money (or EM for short) !?! Simply put, it is the money you put down with your initial offer to purchase a home to show the sellers you are serious about the transaction. It is not legally required when putting in an offer on a home, but it has become a very common practice. Sending a copy of an EM payment with an offer shows the sellers and their agent(s) that as a Buyer, you are ready, willing and able to buy that home today. It is a "sign of good faith" so to speak. Below I will cover the most common questions we have heard regarding EM:

1. "How much EM do I have to put down?"     There is no set amount, again, because it is not legally required and therefore not regulated. Sometimes I have heard that the general rule of thumb is 1% of the purchase price, however, we have found common practice to be as as follows:
   
   
   
   
   
   $500 for a home under $100,000
   $1000 for a home $100,000 - $200,000
   $1500 for a home $200,000 - $300,000
   and $2000 for a home priced $300,000 and above
   
   
    Of course, there is fluctuation between sellers and what they will require. Bank selling foreclosures may require more.  The more EM you provide though, the more impressed the sellers could be, especially in a multiple bid situation. It helps the sellers know you are a serious buyer, and this confident helps ease their minds when they consider taking their property off the market and possibly passing up other better offers to deal only with you.
   
   
   
   
   
   
   
   
   
   
   
   
   
2. "Do I pay with cash, check, or certified funds"     Check is usually the preferred method. Cash is rarely preferred due to the lack of paper trail. Sometimes, a seller (usually banks/foreclosures) will require certified funds to ensure good funds.
   
   
3. "Who do I make the payment to?"     Most commonly, the check is written to the buyer's representing broker (Buyer's agent's company) , however, often sellers will request the check be written to their representing broker (Listing agent's company). IE: If you are being represented by Jane Doe of ABC Realty Company, you will probably make the check out to ABC Realty Company. If the house you are interested in buying is listed by Jack Brown of XYZ Real Estate Company, you may have to make it out to XYZ Real Estate Company. Your agent will be able to tell you how the listing states to make the EM payment. If you have decided to be an unrepresented Buyer or are using the Seller's agent, the Seller's agent will give you the EM instructions. (BUT PLEASE, consider the fact that as a Buyer, you don't pay for a Buyer's Agent's services and using one ENSURES your best interests are protected!! Not the case if you are unrepresented or using the Seller's agent... I have an upcoming post about this. Look for it soon if you want more details!!)
   
4. "When will it be deposited?"     It is deposited  once you are under Binding Agreement, which means all parties have come to an agreement regrding the price and terms of the transaction. (In other words, when the offer or counter-offer is accepted.)
   
5. "How will the money be applied" (connects to question #5)     If all goes well, and you end up closing on the house as you hoped and expected the money will be applied towards your total money owed. It will show up on your HUD Statement (the form required to be reviewed by all parties involved in a Real Estate transaction) as a credit, thereby reducing the total amount you will need to pay by that amount.
   
6. "Can I get my money back?"     Yes, you get the money back on two conditions: The first is upon closing, as stated above. The second is if you terminate the Purchase and Sale Agreement under acceptable terms, usually meaning during your Due Diligence Period. (More info on that in a later post.) If you back out of a deal after the Due Diligence Period has ended and the Seller feels they have been wronged, they have a rightful claim to your Earnest Money. In this case, it becomes the decision of the Broker holding the EM payment, which is why, if possible, it is preferable for your representing broker to hold the money. (But also why the Seller may require their Broker holds it.)
   
   That pretty much coveres the questions we hear most often about Earnest Money. Though I know you earnestly want to keep your money (or make the most of it), EM really is a good thing for all parties involved: Eases the seller's mind that the Buyer who is putting in an offer is capable of buying. It give you the Buyer credibilty and a little "money in the bank" when it comes to closing.
   
   If you have a question about Earnest Money that you did not see answered above, or questions about anything else Real Estate related, please let us know!  If we don't know the answer we will find it. We believe a well-informed Buyer is the Best Kind of Buyer!  (Well-Informed Buyers are confident, capable Buyers... the backbone of the Real Estate Industry.)
   
   
   
   
   
   
   
   
   
   And remember... you still have time to get your portion of Stimulus money with the First Time Home Buyer's Credit of up to $8,000!!! If you haven't owned a home in the past 3 years and you close on your new home by November 30 you will qualify!!! Please call or email us if you need more information about this program or have any other questions =)
   

Acworth Summer Movie Series: Grease on June 20!

Acworth's Summer Movie Series continues at Cauble Park next weekend and the featured movie will be Grease!!
The Summer Movie Series is held on the lawn at Cauble Park (Acworth Beach) each year. Admission is free and shuttles are available from the library in downtown to take you to the park. Next Saturday, June 20, the fun will begin with a classic car show at 6:00 p.m., as well as music, contests, and more! Then the movie will begin at dusk.

Remember, you can come enjoy it all for FREE!!!

For more information visit the Acworth Parks and Recreation Dept website.

Acworth/Dallas Good News Report: June 2009

Here we go! The start of the Good News Report! We hope you enjoy reading these reports and learning the facts about the real estate market in your neighborhood. The following statistics pertain to neighborhoods in Northwest Acworth (Cobb and Paulding counties).



* Number of homes sold in the last 90 days: 75
* Average Listing Price: $316,447
* Average Selling price: $292,204
* Selling Price Range: $51,575 - $2,150,000
* Average Days on Market: 107
* Days on Market Range: 9-876


Now let's get into the specifics!!! The following is a list of the neighborhoods in which there has been a sale in the last 90 days, along with the number of sales and the average selling price:

Allatoona Bay 1 $109,000.00
Arthur Hills 1 $267,000.00
Aviary 3 $509,000.00 
Battleford Plantation 1 $255,000.00
Bentwater 8 $272,625.00 
Brafferton 1 $113,000.00
Bridgewater 1 $442,000.00 
Brookstone 16 $282,774.10
Burnt Hickory Lakes 2 $329,500.00
Camden Pointe 1 $295,000.00
Chestatee Creek 1 $360,000.00 
Davenport Trace 1 $72,500.00
Deer Springs 1 $178,000.00 
Deer Valley 2 $157,375.00
Estates 1 $300,000.00 
Governors Towne Club 2 $1,496,250.00
Harris Woods 1 $108,000.00 
Hunters Walk 1 $51,575.00
Kingsgate 1 $241,900.00 
Maplewood 1 $114,000.00
Mountain Brook 1 $160,000.00
None 7 $226,333.00
Parkwood At Brookstone 2 $169,388.50 
Picketts Mill 2 $260,865.00
Silver Oak 1 $497,500.00 
Starr Lake 1 $225,000.00
Stonekirk 1 $200,000.00 
Summerfield 2 $124,200.00
Sunbrook Estates 1 $149,900.00
The Estates 1 $405,000.00
The Farm at Brookstone 2 $487,500.00
The Oaks of West Cobb 1 $260,000.00
Thornwood 1 $159,900.00 
Walkabout Creek 1 $243,500.00
Wesley Heights 2 $169,000.00 
West Chase 1 $160,000.00
Woodstream 1 $158,000.00
Now, I understand that if the average selling price above is considerably less than what you owe, this may not be good news to you. But, please, remember this: These are only averages. For example, in Bentwater homes sold from to $455,000 to $160,000 and in Brookstone they sold from $477586 to $183,000. Also, it may help you to read our article about why losing money on the sale of your home may actually help you make money on your dream home! Read it here.

If you would like more specific information about your neighborhood, we would love to send it to you. Just send us a message by clicking here! You can also use that link to send us your suggestion or request for future Good News Report features, or feel free to leave it in a comment below.

The statistics and information provided above was summarized from data found on FMLS. It does not include any houses sold by owner or that were otherwise not listed on the First Multiple Listing Service.

Next Good News Report: the Paulding/Dallas side of the Acworth/Dallas area. See you then!

The Good News Report

In Real Estate, "No News is Good News" is not helpful at all. However, it seems all we hear is Bad News and that does not help anyone either! So, what do we need?

THE GOOD NEWS!

One phrase I hear quite often is "Nothing is moving", such as "We've been thinking of selling but nothing is moving". I am convinced this frame of mind stems from the current flood of Bad News. In order to make an educated decision, you need facts, not one-sided perspectives:

• Are houses selling? YES.
• Are Prices down? YES - however, if you sell your house for a loss, but upgrade to a bigger house (whose price is ALSO down) you come out ahead! (See our example here)
• Is this a good time to buy? YES - interest rates are at a 50-year low!!! (In the 4's as of today)
• What will determine the price my home's selling price? COMPS - aka comparable homes that have sold with in the last 90 DAYS.

To share relevant information including (but not limited to) the answers listed above, we are beginning The Good News Report. Check here often to see a review of the good real estate news in your area. We will feature an area about each week or so.

We will begin with the area I know best, : northwest Acworth/northeast Dallas, where we live. It will be a two part report: Part I will cover NW Acworth, Part II will cover NE Dallas. (There are THAT many solds! It would be way too much to put into one report!)

Come back tomorrow night to read the good news!

The Goliath of Yard Sales

If you love Yard Sales, you are going to flip over this! This weekend is the Dixie Highway Yard Sale!
What is the Dixie Highway Yard Sale? It is the largest yard sale in the south -stretching the entire length of the Dixie Highway!! In Kennesaw and Acworth, you may know the Dixie Highway as Highway 293, or Old 41, but it stretches from Ringgold to Marietta!

Can you imagine a ninety mile long yard sale! Oh the bargains you would find! Not to mention those unique, hard to find treasures! It is going to be mind-boggling!

As I was driving down 293, aka, our part of the Dixie Highway this morning, I also saw vendors setting up along the side of the road. What a great way for them to expose their products! I saw one lady with what looked like beautiful hand-made jewelry! I sure hope the rain holds off, it will be so fun to walk up and down the highway looking at all the different yard sales.

So, come on out and find the *treasures* you're searching for! (As well as those you didn't know you were looking for!) The yard sale will be Friday-Sunday, June 5th to June 7th.

Ooh! Let me know if you find something extraordinary! You can contact me by clicking here or send me message a here.

For more information on The Dixie Highway or the Dixie Highway Yard Sale visit this link: The Dixie Highway.

Let's go bargain hunting! =)

The Dunn Team's Real Estate Blog

Blogging has become the new medium for so many businesses, including Real Estate. And now you see us starting our own Real Estate blog. But we are not simply jumping on the bandwagon. There are several reasons we decided to start our own blog, here are just a few:

1. We love writing, learning and educating! Blogging will provide a chance for us to do all three!
2. It is the perfect way for you to get to know us better without the fear that we will try to "sell you something"! That way you can decide before we ever talk if we are the right fit for you!
3. The lifeline of any business is marketing, getting your name "out there". In Real Estate there are many ways to do that, and we have tried them all. None of them seem to fit us, we always felt we were not being true to ourselves. This blog will allow us to put our name out there in a way that is true to who we are.

 Essentially, a blog can create a much more effective web presence than a simple website alone due to the constantly changing content, updates, and keywords. Therefore, we have done away with our costly and pointless business website, and will focus on maintaining our blog with Real Estate facts and news that will educate you, cute and funny stories that will entertain you, and updates that will effect you.

We won't, however, have an MLS search on our blog for several reasons:

• There are a million places you can search for homes on the internet without giving out your information. When you search for homes on a specific agent's website, that agent "captures" your information and uses it to try on "convert" you into a client. (All "quotation marks" are terms we REALTORS are taught to use when learning our internet marketing.)
• We tried that approach and failed miserably,  probably due to the fact we were extremely uncomfortable with the dishonest approach of "capturing" people's information. We do much better when we earn our clients through hard work and integrity.
• Initially, most people want to search for homes on their own in the comfort and privacy of their own homes without being hounded by sales people to choose them. Therefore, we will show you where to search anonymously if you don't already know how (see links on the right, updated regularly). Then, when you are ready to start working with an agent or start finding more specific listings, you can make the first contact. Of course, we hope it will be with us, but if not, that's OK!

• The searched you find on various websites are quite generic. But when you are first starting your search, that is plenty! If and when you desire a more personal and specific search, we can provide you with a custom MLS search that updates nightly and delivers all the matching homes to either your email inbox or a customized website where you can add notes to each listing and sort them by preference!

With all that in mind, we hope to produce an interesting, informative Real Estate blog for you full of local information about the real estate industry in Acworth, Dallas, Kennesaw and surrounding areas as well as defining information about who we are and how we work so you can know if we are the right agents for you.

This will, of course, be a learning process, so it will take time to build. Therefore, we hope you will check in often to see what's new!