Big lending changes coming

The new TRID changes are set to go live October 3rd and we are anticipating potential issues industry-wide due to the new requirements and 3-day waiting period if there are any changes to the settlement statement prior to closing. It is even more important to make sure you are working with an experienced lender who understands these new changes and how to work within the parameter.  Below is an excerpt from Realtor.com regarding the upcoming changes. You can read the full article here. 

Mortgage lenders and real-estate agents are bracing for the Oct. 3 implementation of a five-year-old law that has forced them to overhaul the way they process sales.

The changes, prompted by the 2010 Dodd-Frank financial law, are meant to help consumers better understand the terms of their mortgages before they sign the dotted line.

But some in the real-estate industry worry that the rest of the year could be marked by delayed closings, frustrated borrowers and confused real-estate professionals as they adjust to the new rules.

At heart, the changes simplify forms long required by the federal government that disclose loan terms, such as a mortgage’s interest rate and prepayment penalties. The rules also require that consumers see the final terms at least three business days before closing, a change meant to ensure they have time to understand what they’re agreeing to.

The reform is meant to prevent what occurred during the housing boom, when some borrowers agreed to loan terms they later found they didn’t understand, such as low initial interest rates known as teasers, loan balances that could increase over time and balloon payments due after a certain number of years.

All-Stars!

So proud of my amazing broker and fellow RE/MAX Around Atlanta agents who were chosen as winners in the 2015 Agent's Choice Awards from Atlanta Agent Magazine! We had 5 of our team chosen, including Managing Broker of the Year, Industry MVP, Charitable Services, and Rookie of the Year.  This is a great example of why I chose to join this office and I am so proud to be part of this amazing team!

Half bath or full bath?

If you are thinking of renovating or adding on, but don't have a ton of space, consider this:  Data shows that an extra half-bath can boost a home's price as much or more as another full bath.  A half bath can be added in as little space a 2' x 4', while a full bath needs quite a bit more room, so these findings can be significant!

The median price for single-family homes with one bathroom was $85 a square foot, according to a survey of listings on realtor.com in late July. With an extra full bathroom, the price climbed 15%, to $107 a square foot, while an extra half-bathroom added 10%, or $93 a square foot. 

Read the full article here

It's been a busy year!

2015 has been a banner year! 

Here is just a quick glimpse of what I have been up to!

Roswell Country Club

Roswell

Marietta

Smyrna

West Midtown

Old Fourth Ward

downtown Decatur

Smyrna

Sandy Springs

Woodstock

Roswell

Indian Hills Country Club (East Cobb)

West Midtown

Berkeley Hills Country Club (Duluth)

East Atlanta

Norcross

Woodstock

Burckhead

Indian Hills Country Club (East Cobb)

Marietta

Horseshoe Bend Country Club (Roswell)

Brookhaven

My listings have been selling for over 99% of list price and in less than 20 days. 

Thinking of selling? I would love to help!  

Good Fences Make Good Neighbors

I recently had an issue arise when a buyer had a survey done and a fence that was thought to have belonged to one property owner actually sat partially on the property of their neighbor. This caused the sale of the home to be postponed while they tried to sort out the issue, which was stressful for all parties involved.  In light of that, I thought I would share some pertinent info on the subject.  This is also the part where I say GET THE ENHANCED TITLE POLICY when you purchase a home! It helps protect you in situations like this!

1. A neighbor builds a fence and a portion of the fence is on the owner's property.  What should the owner do?

• Request that fence owner move the fence onto their property, or

• Enter into an Easement Agreement allowing the fence to remain, but the owner retaining the right to request the fence be removed at any time the owner requests.

• Nothing.  This may result in the loss of property over time.

2. An owner wants to build a privacy fence.  How high can the fence be?

• Most all jurisdictions have limitations on the height of fences, usually six feet for back and side yards and four feet for front yards.

• In order to build higher, a "variance" would have to be applied for and approved.

 3. A neighbor has built a fence higher than allowed by the local ordinance.  What can an owner do?  

• Inform the neighbor of the fence ordinance.  The neighbor may not otherwise know the law exists.

• If the neighbor still does not conform the fence to the local ordinance, call the local zoning or planning office and they will take action to seek conformance.

 4. A neighbor's fence is unsightly. What can an owner do?

• Check the local ordinance to see if the fence is in conformity.  If not, see (3) above.  

• If in conformity, but ugly to you, there is nothing that can be done unless:

• There are restrictive covenants in the subdivision restricting fence designs, or

• The fence poses a danger because of its design or condition, or

• The fence is dilapidated.

In these cases you may have the ability to have the fence removed or redesigned. 5. An old fence used by both owners sits directly on the Property line?  Who owns the fence?  

• The fence belongs to both parties, neither can remove it without the others permission and both are responsible for maintenance.

If a conflict arises over any fence issue, the first step is to try to understand the law and then to contact the neighbor to discuss remedying any situation.  In any of these cases, a lawsuit should be your last resort.