Not All 3 Bedroom, 2 Bath Homes Are Created Equal

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Whether you’re a realtor or a buyer just starting to feel out the real estate market in Woodstock, you’ve probably noticed that home prices can vary drastically. But what makes a 3 bedroom, 2 bath house cost more, or less, than another?

There are quite a few factors that can affect home pricing and here at The Premier Group Real Estate Firm, we wanted to go over the most important ones with you. As a home buyer, you need to be informed. Buying a home is a major decision and likely one of the biggest purchases you’ll ever make. Have a look at these important things to consider when you’re ready to buy.

  • Condition – Even well-built homes need regular maintenance. Otherwise, time takes a toll and creates all kinds of issues, many of which are hidden. A home’s condition is a major factor when it comes to pricing. It’s important to get a professional inspection and estimate before you buy.
  • Location, Location, Location! – Location is everything in real estate. You can place the exact same home in two different neighborhoods and get drastically different prices. Everyone wants to live in an accessible area with shops and cafes, good schools, and good neighbors. All of these considerations are factored into the cost of a home, and the more of these desirable attributes you want, the more you’ll pay.
  • Area Statistics – We live in a time where everything is quantified. There are statistics for statistics about statistics, so finding out about average home prices, crime, property tax averages, etc. is as easy as a quick web search. If you can do it in five minutes, so can home sellers and realtors. These statistics also affect how a home is priced.

Buying a home, doing your research, and making sure you pay the right price can seem overwhelming, but with the help of a great real estate firm like TPG, you can make it happen. To find out more or see all of our listings in the Greater Atlanta Metro area, call The Premier Group and let’s get started.

Look Out for These Hidden Home Costs

It’s no secret that buying a home is a big investment. Most people will never buy anything more expensive than their home. You know about the down payment and the mortgage, but there’s more to it than that! The last thing you want is to be caught unawares when you’re preparing for this big expenditure. Don’t forget about these hidden home buying costs when you’re planning your budget.

  • Home Inspection. Usually costing between $300 – $500, this is a fee you’ll pay regardless of whether or not you buy the property. A home inspection is meant to protect you from purchasing a lemon, so you definitely don’t want to skip it! money
  • Mortgage Costs. The total cost of your home loan doesn’t just include the amount you borrow. It also includes interest and often includes private mortgage insurance depending on your lender.
  • Loan Fees. These include one-time fees for loan applications (to pay for background and credit checks, paperwork costs, etc), appraisals (to make sure the property is worth what you’re paying for it), lender’s origination fees (an up-front cost charged to you by the lender for making the loan), and title services (to cover notary services, property title searches, etc). And don’t forget about closing costs! Figure about 2.5% of the loan for these.
  • Ongoing Costs. When you own rather than rent, you’ll be responsible for ongoing costs like property taxes, homeowners association fees, and homeowners insurance, as well as maintenance on your home, appliances, and property.

All this can seem like a lot to think about, but don’t panic. When you’re ready to buy a home in the metro Atlanta area, let The Premier Group help! Our agents are friendly, knowledgeable, and fully versed in the buying and selling of homes. Call us today!

Remodeling Projects with a High ROI

Home remodeling is quite an investment. Before you begin, it’s important to know which features will not only make you happier in your home, but also help build equity. Here at The Premier Group, we know the importance of a maximum return on investment. Check out the remodeling projects that will give you the best ROI: taking notes, house keys

  • Landscaping. The yard is one of the first things potential buyers will see; you definitely want it to make a good impression. The right flowering shrubs, trees, and upgrades like stone pathways, planters, and mulch can give you up to 105% return on your investment!
  • Roof. If you’re noticing that your roof needs work, taking care of that will not only give you great ROI, but also improve your quality of life. If shingles are missing or curling up, your energy bill is super high, or you’re noticing stains on your ceiling, it’s time to replace!
  • Hardwood Floors. Beautiful, timeless, and healthier–hardwood floors beat carpeting any day. Refinishing hardwoods can give you up to 100% ROI, whereas new ones give up to 95%.  
  • Insulation/Windows. Getting an energy audit and acting on it will not only give you a great ROI, it will also help keep you comfortable as the weather cools down! Find out where you’re losing energy and get that fixed. Your budget will thank you now, and you’ll thank yourself when you get ready to sell.

Remember, the team at The Premiere Group is here to help–give us a call and let’s discuss which projects are best for your home!

Why Home Sales Are Down While Buyers Remain Motivated

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Regardless of whether the housing market is favoring buyers or sellers, sales are more often than not driven by interest rates, the economy and government subsidies. Right now, we’re looking at relatively good interest rates for buyers, an economy that is growing steadily if not rapidly and favorable lending regulations from the state government. And yet, we aren’t seeing an increase in home sales. If fact, it’s the opposite.

Through the end of the summer and now into the early part of the fall season, sales are down. But why? At The Premier Group Real Estate Firm, we decided to look into the lackluster home sales of late in the Atlanta Metro area to see if we could figure out why things have been so slow in what should be a favorable market.

Too Few Houses?

Could a lack of homes being put on the market really be the culprit? It seems like it may be. Inventory has only declined marginally since this time last year from a national average perspective. However, the South as a whole is below the national average and it doesn’t seem like we’ve been spared here in Woodstock. So it could stand to reason that a decrease in available homes, and hence an increase in pricing, could be the problem.

Buyers Are Motived but Sales Are Down…

The market does not seem to be suffering from a lack of interested buyers at the moment. But for some reason, sales are down. One reason could be attributed to a 5.6 percent increase in median home prices since last year. According to an article put out by the National Association of Realtors, the average home price was $253,500 in August. Match this with stagnant wage increases nationwide and it could explain why a seemingly healthy pool of motivated buyers aren’t biting. Or maybe it’s what’s keeping them from listing their current homes in the first place.

Regardless, things do seem to be favorable for an increase in sales. Watch for prices to fluctuate and potentially drop. This could be a good sign that sales are on their way to picking back up again! If you’re curious to hear more or want to look at some of our current listings, make sure to contact us at TPG today.

Staging Your Home for Best Results

Did you know that properly staging your home can increase its selling price by up to 10% and decrease the amount of time it spends on the market? Here at The Premier Group, we know how to sell homes in the metro Atlanta area. Check out these staging tips to increase your home’s selling value:

  • Ask Your Real Estate Agent! Your Premier Group agent is your partner on the crazy journey that is selling your home. We want your venture to be successful just as much as you do, and we have the know-how to make it happen.sold sign
  • Paint. Neutral colors will show your space to its best advantage. Potential buyers will be able to project their own tastes on a warm neutral palette, and warm colors invoke feelings of comfort and peace.  
  • Declutter. The more stuff you leave out, the smaller and more cramped a room looks. Remove personal items, collections, excessive decor, heavy furniture, etc. Pay special attention to the kitchen, where so many appliances and tools can wind up on the counters.  

  • Clean! Everything should be sparkling clean, especially in the bathroom. Pay special attention to the grout. Consider investing in a professional cleaning service to make this easier on your family.

  • Ask a Friend.

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    a friend walk through your staged home as if they were a potential buyer. What do they notice? What do they love and hate? Fresh eyes will often pick up on things you’ve missed. 

Contact us for tips about the latest real estate trends, and to find out how The Premier Group can help sell your home faster!

Home Buyers: Don’t Overlook 3 Elements of Your Next Home

home buyersBuying a new home is an exciting and daunting prospect. When searching for a new home, it’s easy to get tunnel vision and miss important aspects of home ownership. Before making your purchase, consider elements of house buying that many people overlook.

Let The Premier Group experts help you find your dream home today!

Check out why these three elements of house buying are so important to consider.

Floor Plan & Lot

Painting walls and replacing carpet are two of the ways to “nest” and turn your ideal house into your dream home. However, there is a limit on how much you can alter your new home. If you don’t like that the master bedroom is upstairs or that your backyard is next to a busy street, consider buying a different home that meets all of your wishes.

Environment Around Your Home

Before house shopping, explore the area outside of the neighborhood. Is your new home near a railroad or hospital? The sound of a train or an ambulance may wake you at night. How far away is your favorite place restaurant, your child’s school, or the office? Determining how far you’re willing to travel to commonly visited places is one element of house buying that will have a major impact on everyday life.

Present & Future Lifestyle

It’s common to buy a home based on the needs of your current lifestyle. A two bedroom, one bathroom home is great for a family of three. However, if you’re planning to have more kids, you may quickly outgrow your little home. When you’re looking for a home, consider your future family and future self, and choose a home that fits those specifications.

Consider more elements of house buying that often go overlooked. Determine the most important aspects of your dream home, and then let us find it for you! Contact The Premier Group today.