Real Estate in Savannah, Georgia | Savannah Real Estate | Don Callahan

Take The Time Now to Review Your Homeowners Insurance

2012-01-24T09:34:00.000-05:00

Trying to get just the right amount of homeowners insurance for your house and possessions seem like a difficult task. If you underinsure your home and suffer a devastating loss — flood, fire, theft — then you risk not being able to return to the lifestyle you’ve worked hard to achieve. Yet if you over-insure, you’re throwing money away every year on unnecessarily high premiums.

All homeowners insurance isn’t created equal. That’s why it pays to review your coverage periodically to ensure your policy meets your evolving needs. Begin by understanding the types of coverage available.

Actual cash value coverage reimburses you for the value of your home based on its current condition. If your home was built 10 years ago, you’d receive only the depreciated value of decade-old windows, cabinets, appliances, and so on. Most insurers recommend the more comprehensive replacement cost coverage. With it you’ll be reimbursed for the amount it will cost to rebuild your home like new with the same kind and quality of materials. Depreciation doesn’t factor into the settlement equation.

To get the full benefit of replacement coverage, you need to purchase enough insurance to cover the total cost to rebuild your home, excluding the value of the land. Many people make the mistake of insuring at the market value. But the amount you could sell your home for today isn’t necessarily the same as how much it would cost to rebuild.

Be sure you’re also insured at the right value for your home’s contents and for personal liability. Most insurance polices provide only actual cash value on contents. To get replacement cost coverage, you’ll need to purchase an endorsement. If you have valuables not covered by your policy—silverware, jewelry, furs—purchase endorsements for those, too.

Many people pay no attention to the liability coverage limits in their policies. If you have a dinner party and a guest falls down your front steps, you don’t want to be underinsured.

If you’re concerned about increasing your premiums by adding endorsement after endorsement, ask whether you can save money by splitting your deductible, paying a higher amount for certain claims and a lower amount for others. Bundled endorsements can save you a few bucks, but only if you require them all.

Make sure you have the right coverage for you, your family and your home!

Client Testimonial from Michael M.

2012-01-23T14:41:00.002-05:00

We're excited anytime we can help someone buy or sell a home here in Savannah or refer them to a great agent in our network across the country. We recently sold Michael and Amanda a home on beautiful Tybee Island. Our Buyer Specialist, Mark Gugliuzza, took the lead at showing them homes and successfully guiding them through to closing. Read what Michael and Amanda had to say about The Don Callahan Real Estate Group below.

"Everyone I worked with at your office was friendly, courteous and more than willing to help in any way they could. I was also impressed by Don's nearly "instant availability" to meet with me for more complex questions and scenarios. I was very impressed that Don showed up for my closing even though we weren't working with him directly. I thought that it displayed good character and a dedication to his clients. I can't recommend you guys highly enough. I also put a shout out on Twitter about you guys right after closing! Great work and thanks again!!!

Mark did a truly outstanding job as our Buyer's Agent. He was very flexible, knowledgable friendly and professional. He provided excellent service with an emphasis on attention to detail and personal attention. He was also very patient with us as our taste in houses changed almost daily. He provided insight into the benefits and potential negatives of each house and neighborhood we looked at. He is very well informed in the real estate market and even provided a wealth of information about historic homes and financing. Mark's attitude was always positive and upbeat and we really enjoyed working with him. He truly took a lot of the stress out of the home buying process. I wish he was our listing agent back in Virginia!!"

JUST LISTED! - Great Bungalow in Avondale

2012-01-17T13:12:00.002-05:00

JUST LISTED! - Great Bungalow in Avondale Community of Savannah

This great little bungalow in Avondale is ripe for the picking! Boasting hardwood floors and nice details throughout, the home has both separate dining room and living room areas. The kitchen is fully renovated, well-equipped and has granite countertops. There are two generously sized bedrooms and a third bonus/bedroom. The bathroom has stylish tile floors. Home sits on a generous lot with established plantings and a fenced back yard.

For more information on this Savannah home visit: http://www.buyorsellsavannahhomes.com/listing/mlsid/345/propertyid/93732/syndicated/1/cgltguid/4108A66D-216F-4675-BDD3-EC89BABEE89A/?ts=crg

To Search the Savannah MLS visit: http://www.buyorsellsavannahhomes.com/search/

Savannah is a charming and captivating coastal town. From the oak-shaded mossy squares of Downtown to the funky "bohemian" vibe of the Starland District to the laid back Low Country attitudes of the Islands and everything in between. The city's multi-faceted character continues to engage those of us that call it home and makes us want to know more about the place we already feel we know so well.

News You Can Use

2011-10-28T13:39:00.000-04:00

One of our favorite Mortgage Lenders, Michael Caputo, sent us the following information. Ever wonder what the big hype is over the Greek economy and why we should care about it? Read below.

I had an agent ask what all the talk was about Greece and why we care about it.

First, How Mortgage Rates Work

Rates come from the price of a mortgage-backed bond that's bought and sold on Wall Street, and that has its pricing set in the same way as a stock does -- supply and demand. When demand for bonds is high, in other words, prices rise.

Rising prices means lower rates on mortgage for buyers and refinancing households.

By contrast, though, when demand for mortgage bonds is low, bond prices fall. This leads to higher mortgage rates for everyone.

The relationship between mortgage bond demand and mortgage rates holds for most types of loans including the conforming, FHA, USDA and "high-cost" conventional varieties.

Because mortgage rates are based on the price of mortgage-backed bonds -- as a rate shopper -- one of the most important questions you can ask your lender is "What is the mortgage bond market doing today?".

It's your best insight into where mortgage rates might go next.

Mortgage Rates Sink On Economy, Greece

Since April, demand for mortgage bonds has been high; so high, in fact, that rates plunged to an all-time low, reaching sub-4 percent levels we never thought we'd see.

Mortgage rates have been low because investors need safe places to park their funds. Equity markets are unpredictable and global economies are on shaky ground, at best. And, when in doubt, investors move their money to the safest places they know.

Those places include the U.S. mortgage-backed bond market.

Mortgage rates have been down since April on weak, U.S. economic data and the likelihood of a Greece sovereign debt default. This is because the U.S. economy is a powerhouse and because a Greece default would send shockwaves throughout the Eurozone banking system.

In the U.S., as jobs data sank; economic output reduced; confidence dropped; and home prices idled this summer, demand for mortgage bonds picked up as investors fled stock markets, leading mortgage rates lower.

Greece's issues contributed, too. Markets were of unsure whether Eurozone leaders would offer a bona fide relief program to Greece, and as those doubts grew stronger, mortgage rates sank more.

But then an interesting thing happened.

Mortgage Rates Now "Single-Minded" On Greece

3 weeks ago, mortgage rates bottomed. It was the day before the October jobs report was released and it appeared unlikely that Greece would receive an aid package.

Since that date, however, the U.S. economy has shown signs of life.

The jobs market rebounded strongly, posting healthy gains

Home sales and homebuilder confidence rose nationwide

Retail sales and consumer spending outperformed expectations

To a recovering economy, these are all good signs. However, mortgage rates failed to rise to reflect that. Instead, markets remain captivated by what may -- or may not -- happen in Greece.

That mortgage rates are still low signals that concerns for Greece -- and the rest of the Eurozone -- have cast a long shadow on the mortgage bond markets. You can trace each day's mortgage rate movement to comments regarding Greece. The stock market is moving in kind.

Today's mortgage market has a one-track mind. As Greece goes, so goes mortgage rates

Rate Alert : Greece Aid Expected

Eurozone leaders are expected to announce an aid package for Greece. This is the news for which mortgage markets have been waiting since April 2011. If the program is deemed "good enough", stock markets will soar and bond markets will sink.

This will take rates higher.

There's too much risk in today's market. If you're shopping for a mortgage right now, do the safe thing -- get your mortgage rate locked.

That takes us to Thursday morning where the European Union reached a deal on the bank debt situation. Stocks will do very well today and mortgage rates will go up.

Savannah Historic Districts

2011-10-13T12:44:00.000-04:00

Did you know that Savannah has eight historic districts? Watch this video to see Don describe the location and home styles in each.

Want Your House Sold? Talk to Me.

2011-10-11T09:38:00.000-04:00

When I agree to list a house for sale, there are many elements that we (the seller and my team) address prior to entering the market. Price, any disrepair and the appearance are a few of the most important ones. It has been my experience that once I get a stager into the house to help the homeowner de-clutter and de-personalize, the house shows much better. So with all these elements in place and a proper price agreed upon, it is then and only then that my sign goes up in the yard.

How I present this listing to the public is what is going to help sell it. So, then the photographer comes in. In today’s market it is said that the vast majority of Buyers are first introduced to their home on the internet. How my listing is presented on the many websites I have affiliation with is of utmost importance to me. I want clear, crisp, uncluttered images. I like to be able to see what is outside the window in addition to what’s in the room. The house needs to be presented so any Buyer can envision themselves living there.

I like to tell sellers don't get taken out of the game before the game starts. What we mean by that, is you shouldn't give buyers a reason to discount your home, before they even get a chance to see it. Recently, I was working with a buyer, who assumed a home wasn't very nice, because the Multiple Listing Service (MLS) report only contained a few pictures. As real estate brokers, we can talk until we're blue in the face about the need to give consumers lots of photos, but we constantly see listings that don't show many.

The Savannah MLS recently adjusted the amount of images an agent can upload from 12 to 25. I am so excited about this that I could just bust. I pay for prominent placement and the ability to add additional images on many affiliate websites I market homes for sale on. I do this because I know the public wants to know what they are looking at before ever getting into a house. I would never want one of my listings to be over looked because it wasn’t presented to the public in the most positive light possible.

The next time you are looking at Real Estate for Sale, ask yourself before dismissing a house, "Is it really not a good property for me or did the Realtor not do the best job possible presenting it?" If it is my listing, I expect you will be impressed or I didn’t do my job properly.

Real Estate News Update

2011-10-10T09:57:00.000-04:00

Jobs Exceed Expectations

Most of the news this week was not good for mortgage rates. The economic data was generally a little stronger than expected, and investor concerns about Europe decreased. As a result, after reaching new lows early in the week, mortgage rates ended the week higher.

Against a consensus forecast of 60K, the economy added 103K jobs in September, and the data for July and August was revised higher by 99K. The Unemployment Rate remained at 9.1%, as expected. Average Hourly Earnings, a proxy for wage growth, increased 0.2% from August. The good news for the economy is that the Employment report surpassed expectations and makes a recession look less likely.

Maximum Number of Mortgages

One individual can mortgage up to eight homes now. Our limit was 4 if the subject property was an investment or second home. There is no limit on the number of mortgages an individual can have if the subject property is going to be the primary home for the borrower. Keep this in mind for any of your investor clients who have been holding at 4 properties because of the previous rule.

The All Important Credit Score

Credit scores are critical to getting approved and the interest rate a borrower can get. The concept of risk-based pricing makes it more important than ever for a borrower to make sure their credit score is as high as possible. We now offer the Credit Expert system to all of our clients as a part of the pre-approval process. Using this score illustrator helps us show the borrower how different actions will influence their score. Have you ever been unsure if you should pay off or pay down a credit card? Wonder no more as we can show you the impact to help you improve your score and lower your interest rate. If you would like a demonstration of this, just let me know.

A real estate news update from Michael Caputo at Starkey Mortgage. Contact Michael at mcaputo@starkeymtg.com.

Do You Know Your Credit Score?

2011-10-06T17:22:00.001-04:00

Our friend Michael Caputo at Starkey Mortgage sent us some great information the other day about credit scores. Whether you're looking to buy or not, it's always good to keep tabs on your credit score. See his article below.

It is always a good idea to check the accuracy of the data on your credit report. Consumers can receive a free copy of their credit report each year by visiting http://www.annualcreditreport.com/

Eligibility for a particular loan program and the interest rate associated with it can be impacted by a borrower’s credit score. After reviewing the report, a consumer can initiate a dispute on line.
If there are any errors on the report that need to be corrected. http://www.equifax.com/ has a tremendous amount of resources designed to help an individual improve their credit history and better manage.
The credit that they have. The higher the credit score, the lower the perceived risk for an mortgage applicant. Please feel free to call anytime to review your credit report and discuss ways to improve your credit score.

Michael Caputo
Starkey Mortgage
912-658-2366

DOCOMOMO US National Tour Day 2011

2011-10-04T11:32:00.002-04:00

Explore Savannah's Modern architectural heritage during the DOCOMOMO US National Tour Day 2011 on Friday, October 7th and Saturday, October 8th. Included are tours that provide a sampling of the best Modern designs found in the city. Friday's panel discussion and reception offer a rare chance to gain insight into these sites and how these pioneering projects were received in a city better known for its historic 18th through 20th century architecture.

DOCOMOMO stands for DOcumentation and COnservation of buildings, sites and neighborhoods of the MOdern MOvement. Initially founded in 1988 in The Netherlands, there are now DOCOMOMO working parties in over 40 countries. The organization is dedicated to the study of significant works of Modern Movement architecture, landscape design and urban planning around the world. DOCOMOMO US is the official Working Party of the United States.

Friday, October 7th
6:30pm (free event) @ Benedictine Military School
Reception, Tour, and Panel Discussion

Saturday, October 8th
8:30am (ticket required) @ Historic Kennedy Pharmacy
Continental Breakfast and Walking Tour

Afternoon (ticket required)
Tour of Homes and Savannah's Modern Neighborhoods

Tickets are available online at www.myHSF.org and Friday evening and Saturday morning events.
The Tour is presented by DOCOMOMO/US, Georgia Chapter and Historic Savannah Foundation.

The Team Concept

2011-10-03T17:37:00.002-04:00

Just like players on a baseball team, each member of The Don Callahan Real Estate Group has his/her own responsibilities and area of the field to cover. Watch this short video to learn more about our team dynamic.

Attention Sellers: Why Staging Matters

2011-09-27T11:14:00.000-04:00

We highly recommend a professional staging consultation for each of our listings. Watch this video to learn why this small investment in your home yields big results.

Picnic in the Park 2011

2011-09-27T09:26:00.001-04:00

The beloved Savannah tradition, Picnic in the Park, will take place in Forsyth Park on Sunday, Oct. 2, 2011. As always, the event will feature an evening of live music, family, and picnics big and small! Entertainment this year provided by Eddie Wilson & The Strings of the South.

The themes for this year’s picnic contest will be "Greenest Picnic" and “Rock & Run,” in celebration of the runners, volunteers and the event that promises to put Savannah on the running map – the first Savannah Rock ‘n’ Roll Marathon. Those who enter their spreads in the Healthy Savannah Picnic Contest will be eligible to win an array of prizes, as well as bragging rights as Savannah’s best picnicker! Special celebrate judges will by WSAV's Tina Tyus-Shaw and SCAD's Sam Carter. Prizes to include a stay at the Avia Hotel, family memberships to the YMCA, 10 person party at the Island's YMCA rope and climbing course, Gift certificates to restaurants serving locally sourced and healthy foods, Yoga Class passes at several local studios, among other things.

2011 Theme: "Rock & Run"

Schedule (Times are approx.)

3:00 - 5:00 pm Healthy Savannah Picnic contest registration

5:00 pm Picnic contest judging

6:15 pm Esther F. Garrison School of Visual & Performing Arts, Middle School Choir

7:15 pm Strings of the South

http://www.savannahga.gov/cityweb/culturalaffairsweb.nsf/608e11690577454885256af400535d5b/afaf0d557d792f14852578ce006a3539?OpenDocument

What is HomePath Mortgage?

2011-09-26T09:43:00.000-04:00

HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed.

Benefits to the Borrower:

• Low down payment and flexible mortgage terms (fixed–rate, adjustable rate, or interest–only).

• Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer.

• No lender-requested appraisal.

• No mortgage insurance; ask your lender for cost details on loans without mortgage insurance.

• Expanded seller contributions for closing costs allowed.

• Available for primary residences, second homes and investment properties.

• Many condo project requirements are waived

Contact us today for a FREE guide to HomePath Mortgage.

JUST LISTED! Ardsley Park Bungalow with Custom Designer Kitchen

2011-09-23T16:45:00.002-04:00

Super-cute Ardsley bungalow, not to be missed! Large living room with fireplace adjacent to spacious, separate dining room. There is a sunroom just off the living room. Custom designer kitchen with stainless steel appliances, breakfast bar and granite countertops. New Trane multi speed HVAC system with state-of-the-art filtration system. Three sizeable bedrooms and renovated bathrooms (2.5) with vanities and granite counters. Outstanding finishes throughout. Large, fenced corner lot with a remarkable canopy of Drake elm trees. Convenient to hospitals, Habersham Village and the Southside.

For more information visit: http://www.doncallahan.com/

How to File for Homestead Exemption

2011-09-07T13:16:00.001-04:00

Residents of Chatham County who own a home and the land it rests on are eligible for an exemption. Property owners are allowed to claim only one homestead exemption, in which case must be on their primary residence. Rental property does not qualify. Only persons who reside on the property and whose name appears on the title can file for exemptions. Applications must be completed in person by the property owner, unless they have given another party their power of attorney.

WHAT:
Regular Homestead applicants must bring:

valid GA driver’s license or ID card

utility bill showing usage in 2011 (must be in name of applicant)
Senior Homestead applicants (62+ or 65+) must bring:

valid GA driver’s license or ID card

utility bill showing usage in 2011 (must be in name of applicant)

2011 State & Federal income tax returns
School Tax Disability applicants must bring:

valid GA driver’s license or ID card

utility bill showing usage in 2011 (must be in name of applicant)

letter of disability from a licensed GA physician (handicap parking applications cannot be accepted)

WHEN:
April 2, 2011 thru April 2, 2012

Monday thru Friday, 8:00am - 5:00pm (excluding holidays)

WHERE:
The Board of Assessors Office, room 503, located on the 5th floor. Applications are accepted at the windows.

HOW:
The exemption will not appear on your April property tax statement, but it will be applied to the September installment for the entire year.

Military applicants who currently have an out-of-state driver’s license or ID card must prove Georgia residency. LES papers showing Georgia as the home of record are acceptable.

How do you define professional?

2011-06-07T10:25:00.002-04:00

...borrowed from Nathan Tutas

How do you define professional? Is it what title you have behind your name? Is it what company you work for? Is it how your email address comes across? Is it what you drive? How about what you wear? Or is it a combination of those things?

If you answered yes to any of those questions, I hate to tell you this, but you're wrong. Big time, dead wrong! Professionalism is an action. It's a way of doing business and doing it properly. It's about doing the things that will create last ing success in any walk of life.

No matter how well you are dressed, if you don't answer your emails in a timely manner, the client will not think of you as a professional. If you don't return phone calls for days on end...your beautiful BMW won't mean anything to the potential clients you lost. Like I said, professionalism is in how you act.

Do you treat your clients respectfully and show up on time to appointments. I'm sure you think your time is money. Well guess what, your clients think their time is money. Be on time.

I'd bet a million dol lars I could sell real estate in shorts and flip flops. I don't, but I could. Although I have the added bonus of being in Central Florida, so I wouldn't exactly look out of place. But you get my point. I can show up driving and wearing any thing I want and still do my job well.

I will have answered their call or email, I'll show up on time, I'll be prepared, I'll be well educated about the issues that might come up during our meeting, and I'll be sincere when I give them the best advice I can. That is professionalism and that is the standard you should be measuring yourself against. Another one of Nate's bright ideas.....

Housing Imperils Recovery

2011-06-02T14:03:00.001-04:00

While Real Estate is a local business, I have been talking about the dramatic hit our local market has endured in the past two quarters. This piece in the Wall Street Journal reports the same for the National market.

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Home Prices Sink to 2002 Levels; Consumer Confidence Falls as Pessimism Grows.
By S. MITRA KALITA And NICK TIMIRAOS

Home prices have sunk to 2002 levels, effectively wiping out almost a decade's worth of home equity across the U.S. and imperiling the fragile economic recovery as Americans confront the falling value of their biggest investment.

A closely watched home-price index released Tuesday, the S&P/Case-Shiller National Index, showed that prices nationwide fell 4.2% in the first quarter after declining 3.6% in the fourth quarter of 2010. The index had seen increases in 2009 and early 2010.

"Home prices continue on their downward spiral with no relief in sight," said David M. Blitzer, chairman of S&P's index committee. The report signals "a double dip in home prices across much of the nation," he said.

That doesn't bode well for the economy, which historically has depended on home buying and other consumer spending to rebound. Falling prices hurt economic growth in a number of ways. Not only do homebuyers curb spending when their homes are losing value, but continued price erosion keeps families stuck in homes they can't sell because they are worth less than what they owe.

Another 5% decline in prices will increase the share of underwater homeowners with mortgages to 28%, up from 23% at the end of 2010, according to CoreLogic Inc. A 10% drop will leave more than one-third of all U.S. borrowers underwater.

Declining home values, rising prices and unemployment continue to weigh on consumer confidence. Another wild card is wrangling over the debt-ceiling in Washington, where lawmakers remain at odds over raising the nation's $2.4 trillion cap.

The Conference Board, a business research group, said Tuesday that its confidence index fell to 60.8 last month, down from 66.0 in April, as Americans grew more pessimistic about the economy.

Economists are similarly downbeat, revising expectations downward for second-quarter growth; Goldman Sachs last week notched its forecast down to 3% from a previous 3.5%.

"If you had to identify one thing in particular that's been responsible for the subpar nature of this cycle, it would be housing," said Joshua Shapiro, chief U.S. economist for MFR Inc. "The bad news is I don't expect it to turn around any time soon."

Economists say it could take years for the housing market to return to health and it will take faster growth, strong job gains and improvements in consumer confidence to make it happen.

Residential construction has subtracted from growth in gross domestic product, the broadest measure of all goods and services produced in the economy, in four of the seven quarters since the recession ended in June 2009. That's a contrast with the past three recoveries when housing added to economic growth for at least a year and half following the downturns in the 1980s, 1990s and early 2000s.

Two years ago, home prices stopped falling as low prices, along with home-buyer tax credits, spurred a surge in sales. But demand collapsed last summer after those credits expired and left markets without enough buyers to absorb a steady flow of foreclosed properties.

Home prices have tumbled for eight straight months, and in March they slid to their lowest level since the start of the 2006-2009 downturn, according the S&P/Case-Shiller monthly 20-City Composite Index.

Indeed, 12 of the 20 metropolitan areas tracked in the index posted new lows in March. Only the Washington, D.C., and Seattle markets saw month-to-month growth of 1.1% and 0.1%, respectively. Minneapolis led the declines, with prices falling 3.7%; on an annual basis, its prices were down 10%.

Sellers such as Julie Lindsay are feeling the pinch. Ms. Lindsay, a retired state worker, listed her three-bedroom house in the St. Paul, Minn., suburb of Centerville for sale in April, thinking it would show better in the spring. "The flowers are planted. Things look nice," she said. "But it's not been great. I've had two people come see it, a couple of phone calls and that's about it."

She has lowered the price to $145,000—and tries not to think about the home's value three or four years ago. "It was worth $200,000 then," she says. "Now the county says it's worth $92,000. Holy mackerel."

Ms. Lindsay suspects a number of more affordable foreclosures nearby are hurting her chances of selling. "You can get newer houses for what I am asking for my old house if you buy a foreclosure," she said.

One bright spot: as prices fall, affordability is returning to pre-bubble levels in a growing number of markets. Prices in Atlanta, Cleveland, Detroit, and Las Vegas have fallen below their January 2000 levels, while prices in Phoenix are only slightly above that mark.

Economists say a shortage of "trade up" buyers has become one of the biggest drags on housing, leaving many markets dependent on first-time buyers and investors who land discounts on foreclosures by making all-cash bids.

"There's just no equity," says Christopher Thornberg, a housing economist at Beacon Economics in Los Angeles. "You add that up and what you're dealing with is, of course, a situation where there's not enough demand to really push the market forward."

Investors are making it harder for some buyers to enter the market. The National Association of Realtors recently reported that while overall sales are weaker this year than last, the volume of homes sold for $100,000 or less in the first quarter—many to investors in all-cash deals—was 8.9% higher than the same period last year.

Consumer Confidence Tumbles
Case-Shiller quarterly data reflect sales recorded during the January-March period, which were negotiated several months ago. The real-estate industry had hoped strong spring sales would turn the tide.

That hasn't happened. While mortgage rates last week fell to their lowest level of the year, there is little evidence that sales have gained momentum.

Lending remains tight, but buyers are also spooked and unwilling to lock in purchases amid the prospect of further price declines.

"People are reluctant to reduce their price to the place where the consumer says, 'I'm getting a great deal,'" says Ivy Zelman, chief executive of Zelman & Associates, a housing-research firm.

Some industry watchers say last year's price gains were artificially driven.

"The market showed a little stability that was largely stimulated by the tax credit, but that stability was very short-lived," said Michael Feder, chief executive of Radar Logic. "To call this a double dip is an overstatement. The fact is we have never really started to recover."

View original article: http://online.wsj.com/article_email/SB10001424052702303657404576357170425058088-lMyQjAxMTAxMDAwMTEwNDEyWj.html

JUST LISTED! - Outstanding Modern Home on Dutch Island

2011-05-05T15:04:00.002-04:00

Rare opportunity to buy on exclusive Dutch Island. Even rarer opportunity to own one of Savannah's most outstanding Modernist houses. Built in 1995, with over 6,000 square feet, the house stands as a theatrical backdrop for entertaining of the first caliber. Perhaps most impressive, the great room features a dramatically sweeping staircase, remarkable fireplace and a 30' high wall of glass overlooking the marsh and creek. The home is commodious to say the least, with 4 bedrooms, 4 full baths, and 2 half-baths. Additionally, there is a separate living room, music room, dining room, top-floor family room with wet bar, a gourmet kitchen, even a screened-in dining porch. Patios, decks and screened porches punctuate the footprint throughout, adding further breadth to the livability of this Low Country marvel. The residents of Dutch Island have available for their use a multitude of amenities including; swimming pool, a 'beach' volleyball court, outdoor fire pit, children's playground, tennis courts, basketball court, and dock with boat ramp. Gated community with guard house.

For more information visit http://www.realestateinsavannah.net/827-Meriweather-Drive-a214301.html

So you say you want to Sell your house?

2011-04-30T10:24:00.001-04:00

If you are serious about selling your house…follow the instruction!!!
In today’s market ALL elements should be considered when putting your house up for sale. Be certain to hire a good Realtor. One that is not afraid to tell you what it will take to have a successful sale.
The location, style and size are a few elements you cannot change too easily.
However, below are some components of a successful sale that MUST be addressed in today’s market to compete with the increased inventory without having to “give the house away”
• Price: Have your Realtor do an evaluation and price your house properly. Be certain he or she is familiar with home sales in your community. If you are not sure, get an appraisal. How much you want or need for your house has nothing to do with what your house is worth.
• Condition: Whether you choose to have a pre-listing inspection of your house or simply do a walk through with your Realtor, you must address any and all disrepair or distractions (stains on the walls, discolored entry doors, clumsy plantings etc.)
• Appearance: A professional Stager is necessary! The cost is minimal considering the benefit they offer in the home sale process. Be prepare to pack away some of your belongings (you are going to be moving if you do this right). Remove your emotions for just a moment and trust in the process. Do everything that is recommended!
This is a business transaction. Take it seriously. Your house will sell and you will be able to move on with your life! Good luck!

To sell your home in Savannah or for any Real Estate needs in Savannah visit my website www.DonCallahan.com or contact me 912-441-4416

Who establishes the price of Real Estate???

2011-04-30T09:50:00.002-04:00

Who establishes the price of Real Estate? In the real estate business, it is the buyer that sets the price of a property. They will only pay what comparable properties have sold for recently.

Some real estate owners price their property by ‘what I need to get'. Others scratch their head. Sometimes they want to sleep on it.

With the birth of the internet, buyers and sellers are more educated. They can find the information they require to make an informed decision.

So if you are selling a property, you can ask all you want. You will have to settle for what a buyer is willing to pay for it.

Visit www.DonCallahan.com for Real Estate in Savannah

5 Things Home Buyers Do That Turn Sellers Off (and Kill Deals)

2011-04-12T09:24:00.005-04:00

by Tara-Nicholle Nelson

Trulia.com

On today’s market, every savvy seller wants to know what turns buyers off, so they can get their homes sold as quickly as possible, for as much as possible. But buyers, take note – there is a minefield of seller turn-offs you can trigger that hold the potential to keep you from getting the home you want at the best price and terms, or to unnecessarily complicate dealings with your home’s seller.

Lest you think all of today’s sellers are under the gun and will just put up with whatever behavior buyers dish out, be aware that there are still many multiple offer situations in which buyers have to compete with each other to get a home – buyers who trigger these turnoffs tend to lose in those scenarios. Also, avoiding these seller turnoffs can create a transactional environment of cooperation and avoid things turning adversarial. That, in turn, can empower you to score a better price, get extra items you want thrown into the deal, and even negotiate more flexibility around your escrow and move-in timelines – all perks that can make your life easier and your budget go further. For sellers, these turnoffs pose the potential of irritating you out of an otherwise good deal – maybe even the only deal you have! Here’s a few of the most common buyer-perpetuated seller turnoffs, with tips for sellers on how to keep an emotional (and economic) even keel, even if your home’s buyer makes some of these waves:

1. Trash-talking. Trash-talkers are the home buyers who think they’re going to negotiate the list price down by slamming the house, telling the sellers how little it is really worth, how the house across the street sold for nothing, why the school on the corner should make them desperate to give the place away, etc. This strategy never works; in fact, when you attack a seller and their home, you only cause them to be defensive, and think up all the reasons that (a) their home is not what you say it is, and (b) they shouldn’t sell their home to you! Sometimes this happens with buyers who actually love a house and just walk around it fantasizing about all the ways they would customize it to their tastes while a seller is there.

Sellers: avoid being at home while your home is being shown. Buyers: save your commentary for your agent; if you do encounter the seller in person keep your conversation respectful and avoid critiquing the house or the list price.

2. Being unqualified for mortgage financing. When a seller signs a buyer’s offer, most often the seller agrees to effectively pull the home off the market, forgoing other buyers who might be interested. As such, the only thing worse than getting no offers on your home is getting an offer, getting into contract, then having the whole thing fall apart when the buyer’s loan falls through – especially if that could have been predicted or avoided up front.

Sellers: Work with your agent to vet your home’s buyers’ qualifications, including their loan approval, down payment and earnest money deposit – before you sign a contract. It’s not overkill for your agent to call the buyers’ mortgage pro before you sign the contract and get a level of comfort for how robust their qualifications are. Buyers: Get pre-approved. Seriously. And make sure that you don’t buy a car, quit your job, deposit lottery winnings or do any other financial twitchery between the time you get loan approval and the time you close escrow on your home.

3. Making unjustified lowball offers. No one likes to feel like they are being taken advantage of. And sellers generally know the ballpark amount that their home is worth, as well as what they need to sell it for to get their mortgage paid off. Yes – the price you pay for a home should be driven by its fair market value, rather than the seller’s financial needs, and deals are more available in a market like the current one, in which supply so vastly outpaces demand. But just throwing uber-lowball offers out at sellers hoping one will hit the spot is not generally a successful strategy, especially if you really, really want a given property.

Sellers: Don’t get overly emotional about receiving a lowball offer; counter at the price you and your agent decide makes sense based on the total circumstances, including your motivation level, recent comps and the interest/activity level your listing is receiving. Buyers: Work through the similar, nearby homes that have recently sold (a/k/a comparables) before you make an offer to factor the home’s fair market value into your offer price – also factor in how much you want the place, too. Don’t be amazed if you make an offer far below asking, and don’t get a response.

4. Renegotiating mid-stream. Sellers plan their finances, moves and - to some extent – their lives around the purchase price a buyer agrees to pay for their home. If you get into contract to buy a home, find out during inspections that costly repairs need to be made, then propose a lower sale price, repair credit or even actual repairs to the seller, that’s sensible and fair. But if you were aware that the property needed a lot of work before you made an offer on it, then you come back asking for beaucoup bucks’ worth of credit or price reductions midstream, expect the seller to cry foul. And holding the seller up two weeks into the transaction because you caught a case of buyer's remorse? Not cool, and not likely to foster the spirit of cooperation you may need to get your deal closed.

Sellers: avoid mid-stream price renegotiations by having a full set of inspection reports and repair bids at hand when you list your home. Buyers: try to avoid renegotiating the entire deal unless you get some major surprises at your inspections or inflating small repairs to try to justify a major price cut.

5. Misleading or setting the seller up. Remember when we talked about buyer turn-offs? Being misled by listing photos or very fluffy property descriptions was high on the list. The same goes for sellers.Offering way over asking with the plan to hammer the seller for a reduction when the house doesn’t appraise at the purchase price? #LAME Making an as-is offer planning the whole time to come back and ask for every penny ante repair called out by the inspectors? Lame squared.

Sellers: If you get multiple offers and are tempted to take a sky-high one or one that claims to be all cash, consider requesting proof that the buyer has sufficient funds to make up the difference between what you think the home will appraise for and the actual sale price, and statements showing the cash truly exists. Buyers: Don’t be lame. I’m not saying you have to tell the seller exactly what your top dollar is, but making offers with terms designed to intentionally mislead is really, really bad form – and can result in losing the home entirely if and when your bluff gets called.

View original article: http://www.trulia.com/blog/taranelson/2011/03/5_things_buyers_do_that_turn_sellers_off_and_kill_deals?ecampaign=anews&eurl=www.trulia.com%2Fblog%2Ftaranelson%2F2011%2F03%2F5_things_buyers_do_that_turn_sellers_off_and_kill_deals

What is a short sale???

2011-04-04T23:36:00.004-04:00

What’s a Short Sale
Judy Chapman (Koenig & Strey Real Living)
Try Googling What is a Short Sale, and you’ll get over 6 millions links to informative web sites.

So it’s no wonder many home owners are confused about Short Sales, what they are and what they have to offer. With so much information and misinformation floating around, it’s easy not to know which end is up.

From all the hoopla, you probably surmise a Short Sale is some thing good and also some thing complicated. To separate the wheat from the shaft, you want the simplest explanation possible. An explanation that will help you decide if a Short Sale is right for you.

Here’s the simple answer to the question, What is a short sale?

If you’re upside-down on your mort gage — meaning your house is worth less than your loan — you can still sell your house … as a Short Sale.
Here’s the long-winded definition:

A Short Sale occurs when, upon the sale of the property, the lender agrees to accept a pay off for less than the remain ing mort gage balance. The lender can for give the entire short fall as well as pay the seller’s closing costs, includ ing the real estate broker’s sales commission.
The loss can —.

Be completely writ en off by the lender
Partially or wholly paid off over time by the borrower through a promissory note – or –
Partially mitigat ed through a lump-sum payment at the time of closing.
The lender may also seek the deficiency from the borrower post-sale.

The long and the short
For home own ers who can’t afford to live in their houses any longer — but can’t sell because they’re upside-down on their mortgage — a Short Sale could very well be the answer to a good night’s sleep. In fact, it may be the only viable way out of an impossible situation, stuck as they are between a rock and a hard place.

Doing a Short Sale is noth ing more than putting your house up for sale in the usual man ner, negotiating a solid contract with a qualified home buyer, preparing extra paperwork, waiting a bit longer for your bank to approve the Short Sale, and moving on with your life.

It doesn’t really matter the state of your financial situation. If you need to get out from under an upside-down property, the chances are high you can do it with a Short Sale.

Being upside-down isn’t the same as being inside-out
Cur rent ly, 25% of home own ers are upside-down on their loans.

Many of these homeowners have or will soon face adjustable interest rates that make it impossible to keep up with payments.
Others are experiencing hard ships, like job loss or illness.
Some have to make a change due to job relocation or family reasons.
Still others are in a negative cash flow position on rental properties.
And others don’t see the point of making payments on a house that will never recover from the real estate bust.
Unless banks forgive a portion of those loans, however, home owners are ‘under house arrest’ and can not sell.

This is where home buyers look ing for a good deal come into the pic ture.

Because buy ers must wait for bank approval, they’re only willing to purchase a Short Sale pro vid ed it’s at a dis count ed price. Depend ing on the condition of the house, Short Sale prop er ties generally sell for about 10% less than com parable ‘non-distressed’ hous es.

This kind of dis count makes your house that much more attrac tive to many home buy ers, who are usually investors and first-time home buyers. Some buyers who currently own a home but want to move up or down size are also will ing to make the plunge, provided the right opportunity comes along.

You don’t have to get dizzy from being upside-down
Because your lender must take a loss on its original invest ment, it must decide whether approving your Short Sale is a sound finacial decision. They do this by first exam in ing your financial position and then making sure the con tract ed price is the best possible price given current market conditions.

Getting right-side up
When you decide to do a Short Sale, make sure to take 2 crucial steps.

Treat the selling of your house with the same dedication and respect as you would a regular sale.
Under stand that a Short Sale isn’t guaranteed and requires flexibility, patience, and the willing ness to make it work.
Take it to the bank
Done right, a Short Sale can be successful. The emotional cost of doing one will be more than off set by being able to move out and move on.

CHICAGO SHORT SALESFIND SHORT SALE REALTOR(R)FIND ORLANDO RE

So You Want to Look at Property...A Primer

2011-04-04T17:38:00.003-04:00

For the most part, sellers want to sell their home and are happy to have you come through and see if their home will become your next home. That said, there a few tips that we think will help to make your "house viewing" experience as fun and enjoyable as possible!

1. Everyone in your group, including children should wear shoes that are easy to slip on and off. With few exceptions, you will need to remove your footwear before going through a home. It can be a challenge juggling purses, bags, cameras, umbrellas, children etc.

2. Do not bring food, drinks, candy, gum, chips whatever into someone's home. And we can deal with any garbage you may have somewhere else. If, for some reason we are doing a "marathon" showing tour with clients, especially those with children, we will schedule a break into the day for bathroom, coffee and food.

3. Sometimes it helps to sit on the couch or chair to get some perspective on a room and to see how the space "feels". We understand this. However, we think it's best not to lie down on the bed.

4. Speaking of children, please keep them within your view and under control. The contents of the fridge are not for the taking, the toys are not to be played with, drawers are not to be sifted through. Beds are not for jumping on etc.

(As for 2, 3 & 4 - We mention them now so we don't have to mention them later)

5. Whether you love the house or have not much good to say about it - tell us outside of the house, preferably at our office. Some sellers have nanny cams and some sellers may actually be at home. No one wants to feel insulted by their taste in decor, design or housekeeping skills. Not every home is for everyone. On the other hand, we don't want to tip our hand if you really, really love it!

6. We encourage our buyers to bring along a notepad & pen, as well as a camera (a picture's worth a thousand words). We do have a note about photos - not all sellers are comfortable with having photos taken other than the ones taken by the listing agent. As your agent/buyers representative, we do our best to confirm photo taking in advance.

7. Sometimes circumstances come up, but try to be on time. A lot goes into scheduling showings and having people leave their homes sometimes with kids and pets in tow.

8.There are occasions where extra sensitivity is required on our part and, as Realtors, we will likely know in advance what the issue is - estates, foreclosures and tenancy where the tenant may not want to move.

9. In all of this, if you are not really ready to commit yet to purchasing and are "just looking for fun" we would like to suggest that you visit open houses or model homes until you are ready. Booking showings with private homes requires a lot on the part of the seller to have the home ready to show and to make arrangements to be out of the house.

As always, it will be a pleasure to help you find the house of your dreams that fits your lifestyle and financial goals. House hunting should be a fun and exciting time!

Original article: http://activerain.com/blogsview/2222978/so-you-want-to-look-at-properties-a-primer-

Do you really want to sell your house?

2011-03-31T09:44:00.004-04:00

For those who believe everything they hear in the media and think that the housing market is at a complete stand still, I have some news. There are many homes that are selling, and selling quickly. They simply fit into one of two categories.

They are:

Well-presented, or Very well-priced.

Or, preferably - both.

Some of my buyer clients have recently run into extremely competitive situations resulting in multiple offer scenarios. I have found myself resorting back to techniques that were used during the boom periods to have their offers brought to the top of the pile. These include writing letters defining their current and past employment situations, and descriptions of exactly - what nice families they are.

What is causing this type of competition in a down market?

These are basically sellers who have smart Realtors® and they are taking their advice. Before the home is put in the market, the agent goes through the property and points out areas that need improvement. As a result:

-- Interiors are getting a fresh coat of paint. -- The home is immaculately cleaned. -- Any deferred maintenance is immediately taken care of. -- Repairs are being made. -- Out-of-date décor such as flowered wall paper is being removed. -- New kitchen counters are being installed. -- The exterior is repainted, in necessary. -- But most importantly, the home is priced correctly.

Perfect homes, of course are not the only houses that are selling. Foreclosures, estate sales and properties that need freshening but do not have the resources to do so are also sometimes generating multiple offers. The key is - they must be priced to sell.

The message here is that, even in this difficult market, there are houses that are coming on and selling on the first day they are listed. The secret - and this should not be much of a secret - is: Listen to your Realtor®!

JUST LISTED! - Awesome Midtown Ranch

2011-03-28T11:30:00.002-04:00

Awesome, brick ranch in desirable Midtown Savannah. Situated on a quiet street with no thru traffic, this house resonates a peaceful ambiance. The airy, screen porch entrance leads to a spacious, open foyer just off the large, light-filled living room and separate dining room. The cozy family room offers a a wood burning fireplace flanked by floor to ceiling built-ins. The eat-in kitchen is crisp and well-planned. Each of the three (3) bedrooms is big and bright with plenty of closet space. The tremendous back yard and an attached studio with separate entrance, wrap this package up nicely. This solid, serene house awaits for you to add your discerning touches. For more information please visit DonCallahan.com

Community Profile: Parkside

2011-03-23T15:35:00.001-04:00

Leafy shade covered streets and Craftsman style homes are a hallmark of this midtown neighborhood. Located immediately adjacent to Daffin Park, Savannah's largest, though less famous green space, Parkside is a quaint close-knit community offering an affordable alternative to Ardsley Park, its cousin to the west. Bungalows are the signature architectural style in this neighborhood, though there is a sprinkling of larger homes, multi-family buildings and even a few modernist gems. The Waters Avenue corridor provides access to local businesses and boutiques as well as a quick route to the Southside or Downtown Savannah.

5 Mortgage and Foreclosure Myths

2011-03-21T12:15:00.002-04:00

Here's a great article from Trulia blogger Tara-Nicholle Nelson on 5 mortgage and foreclosure myths. If you're facing a major decision regarding your home, remember to turn to the experts. For real estate advice contact us today to discuss your situation. Looking into a short sale on your home? Visit http://www.shortsalesinsavannah.net/ to explore your options. Just thinking about refinancing? Visit the Concierge page of DonCallahan.com for a list of local lenders.

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In a mortgage market that changes as quickly as this one, today’s fact is tomorrow’s fiction. For buyers, misinformation can be the difference between qualifying for a home loan or not. Sellers and owners, knowledge is foreclosure-preventing, smart decision-making power! Without further ado, let’s correct some common mortgage misconceptions.

1. Myth: Buyers with bad credit can’t qualify for home loans. Obviously, mortgage guidelines have tightened up, big time, since the housing bubble burst, and they seem likely to tighten even further over the long-term. But just this moment, they have relaxed a bit. In the last couple of weeks, two of the nation’s largest lenders of FHA loans announced that they’ve dropped the minimum FICO score guideline from 620 (which allows for some credit imperfections) to 580, which is actually a fairly low score.

At a FICO score of 620, buyers can qualify for FHA loans at many lenders with only 3.5 percent down. With a score of 580, the lenders are looking for more like 5 to 10 percent down – they want to see you put more of your own skin in the game, and the higher down payment lowers the risk that you’ll default. However, if your credit has taken a recessionary hit, like that of so many Americans, this might create a glimmer of hope that you’ll be able to take advantage of low prices and interest rates without needing years of credit repair.

2. Myth: The Mortgage Interest Deduction isn’t long for this world. Homeowners saved over $85 billion in 2008 by deducting their mortgage interest on their income tax returns. A few months ago, the National Commission on Fiscal Responsibility and Reform caused a massive wave of fear to ripple throughout the world of real estate consumers and professionals when they recommended Mortgage Interest Deduction (MID) reform, which would dramatically reduce the size of the deduction.

Fact is, the Commission made a sweeping set of deficit-busting recommendations to Congress, a few of which are likely to be adopted. Fortunately for buyers and sellers, MID reform is not one of them. Very powerful industry groups and economists have been working with Congress to plead the case that MID reform any time in the near future would only handicap the housing recovery. Congress-folk aren’t interested in stopping the stabilization of the real estate market. As such, the MID is nearly universally thought of as safe – even by those who disagree that it should be.

3. Myth: It’s just a matter of time before loan guidelines loosen up. The US Treasury Department recently recommended the elimination of mortgage industry giants Fannie Mae and Freddie Mac. I won’t get into the eye-glazing details of it here, but the long and the short is that (a) this is highly likely to happen, and (b) it will make mortgage loans much harder and costlier to get, for both buyers and homeowners. It’s possible that loans are as easy to get as they’re going to get. So don’t expect that if you hold out, zero-down mortgages will come back into vogue anytime soon. Fortunately, Fannie and Freddie aren't likely to disappear for another 5-7 years, so you have a little time to pull your down payment and credit together. If you want to get into the market, the time to get yourself ready is now!

4. Myth: If you don’t have equity, you can’t refi. Much ado is being made about how stuck so many people are in their bad loans, because they don’t have the equity to refinance their way out of them. If you’re severely upside down (meaning you own much, much more than your home is worth), stuck may be the situation. But there are actually a couple of ways homeowners can refi their underwater home loans. If your loan is held by Fannie or Freddie (which you can find out, here), they will actually refinance it up to 125% of its current value, assuming you otherwise qualify for the loan. That means, if your home is worth $100,000, you could refinance a loan up to $125,000, despite the fact that your home can’t secure the full amount of the loan.

If your loan is not owned by Fannie or Freddie, you might be a candidate for the FHA “Short Refi” program. While most mortgage workout plans are only available to people who are behind on their loans, the Short Refi program is only available to homeowners who are current on their mortgages and need to refinance up to 115 percent of their homes’ value. So, if you owe $250,000 on your home, you can refinance via an FHA Short Refi even if your home’s value is as low as $217,000. If you think you’re a good candidate for a short refi, contact your mortgage broker, stat – there are some in Congress who think that this program is so underutilized (only 245 applications have been submitted since it rolled out in September – no typo!) that its funding should be diverted to other needy programs.

5. Myth: If you’ve lost your job and can’t make your mortgage payment, you might as well mail your keys in. Until recently, this was essentially true – virtually every loan modification and refinancing opportunity required that your economic hardship be over before you could qualify. And documenting income has always been high on the requirements checklist. But there are some new funds available in the states with the hardest hit housing and job markets, which have been designated specifically for out-of-work homeowners.

The US Treasury Department’s Hardest Hit Fund allocated $7.6 billion to the states listed below – all of which are now using some portion of these funds to offer up to $3,000 per month for up to 36 months in mortgage payment assistance to help unemployed homeowners avoid foreclosure. Contact the state agency listed below if you need this sort of help:

•Georgia: http://www.dca.state.ga.us/housing/homeownership/programs/hardesthitfund.asp

View original article here:
http://www.trulia.com/blog/taranelson/2011/03/5_mortgage_and_foreclosure_myths?ecampaign=anews&eurl=www.trulia.com%2Fblog%2Ftaranelson%2F2011%2F03%2F5_mortgage_and_foreclosure_myths

Don Callahan on YouTube

2011-03-21T12:12:00.002-04:00

Have you seen our YouTube Channel? We regularly post videos on our listings, community profiles, and updates. Visit it at http://www.youtube.com/user/realestateinsavannah?feature=mhum

Keller Williams Growing

2011-03-16T16:42:00.000-04:00

Keller Williams Realty received many accolades in 2010 including:

-- Entrepreneur magazine, No. 1 ranked real estate franchise on the 31st Annual Franchise 500 list

-- J.D. Power and Associates, highest in overall satisfaction ratings from home buyers among the largest full-service real estate firms for the third year in a row

-- Inman News, Co-Founder and Chairman of the Board Gary Keller named one of the 100 Most Influential Leaders in Real Estate

-- Training Magazine, highest ranking real estate franchise on the annual Training Top 25

It was announced the other week that Keller Williams is now the second largest real estate franchise in the United States based on total number of sales professionals. Despite industry contraction, Keller Williams associates across North America also showed significant percentage gains in listings taken (+13%), contracts closed volume (+9%) and contracts closed units (+6%).

Additionally, Keller Williams Realty rolled out a paperless transaction system this month. I am thrilled to be helping the environment while helping friends and clients with their real estate needs.

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Just Listed! - 625 E. 51st Street

2011-03-02T14:35:00.001-05:00

Charming brick bungalow on desirable block in Savannah’s most coveted Historic community, Ardsley Park. The deep shady front porch welcomes all guests and the homeowner. Separate Living room with fireplace, French door the side porch/sunroom, spacious dining room and adorable breakfast room with built in cupboards. The kitchen has updated white cabinetry, stove, refrigerator, dishwasher and built-in microwave/vent. There are three bedrooms and two full baths. With a fenced in back yard and one car garage this house has it all!!!

For more information visit www.DonCallahan.com

225 East 65th Street - Video Tour

2011-02-24T15:47:00.002-05:00

Don takes you on a tour of our new listing at 225 East 63rd Street. For more information on this home be sure to visit http://www.doncallahan.com/

1804 E. 32nd Street - Video Tour

2011-02-22T16:01:00.002-05:00

Go along with Don Callahan as he takes you through his new listing at 1804 E. 32nd Street.

Are You Ready to Move Up?

2011-02-22T15:56:00.001-05:00

Today's market has created an environment where it is a great time to be a buyer. Interest rates are still at historical lows, the job market is improving, and affordability is near generational highs.
Those with growing families and steady jobs may be asking themselves if now is the time to "move up". To answer this question, consider these points:

1. Finances: Is your job steady and secure? Moving up can mean taking on the responsibility of a bigger monthly mortgage payment, along with higher property taxes.

2. Equity: Some buyers use the equity they have built in their current house to help fund their "move up." Now is a good time to research the local housing market. Some neighborhoods may have experienced dramatic declines in home values, while others have maintained a healthy level. To find out how much equity you have built in your house, go to www.DonCallahan.com and generate a “market snapshot” on your home.

3. Housing Trends: Now that you have researched the local housing trends, you must ask yourself whether or not you feel comfortable making a move in your particular economic climate. Do you feel that there is a healthy balance of buyers and sellers, should you need to move and sell? As your local real estate agent, I can answer many questions pertaining to local market trends and values.

4. Family Considerations: Moving up may mean moving away from friends, family, and school districts. Be sure to take this into consideration before jumping into a life changing situation.

5. Energy: A bigger house means more energy consumption. This translates into a bigger carbon footprint, as well as a heftier monthly bill. If you are moving up, consider looking for homes that meet green standards. Energy star rated appliances, adequate insulation, and even new insulated windows can make a huge difference.

Remember, homeownership is a long-term investment. In today's troubled market it is best to keep in mind that home values may not be at their bottom. But if you meet the financial qualifications outlined above, then a long-term investment, and a "move up" sound like a good fit! Now, have fun picking out your dream home!

Why Use a REALTOR?

2011-02-03T13:03:00.001-05:00

All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR "®" logo on the business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®.

But if you're still not convinced of the value of a REALTOR®, here are a dozen more reasons to use one:

1. Your REALTOR® can help you determine your buying power -- that is, your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders -- banks and mortgage companies -- offer limited choices.

2. Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.

3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning. schools, etc. There are two things you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

4. Your REALTOR® can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Your REALTOR® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR®, title company or attorney can help you resolve issues that might cause problems at a later date.

6. Your REALTOR® can help you in understanding different financing options and in identifying qualified lenders.

7. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.

8. When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

9. Your REALTOR® markets your property to other real estate agents and the public. Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your REALTOR® markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.

10. Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

11. Your REALTOR® can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing -- a lot of possible pitfalls. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

12. Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).

Mortgage Rates Climb

2011-01-24T11:34:00.001-05:00

By Chris Vogler chris.vogler@bankofamerica.com
Bank of America Home Loans

Stronger than expected economic data with a hint of higher inflation was negative for mortgage markets last week. Concerns about the level of demand for US securities from China added to the pressure. As a result, mortgage rates ended the week higher.

A number of factors combined during the week to push mortgage rates higher. The recent trend of improving economic data continued this week in the housing sector. The inflation information seemed to show a sharp increase. Later in the week, a Treasury auction for securities which provide protection from inflation showed that investor concerns about future inflation are growing. Investors also worried about a decline in demand for US bonds from China. As the largest foreign holder of US fixed-income securities, any sustained drop in demand from China would have a large impact on US bond markets, including mortgage-backed securities (MBS) markets.

Overall, last week's housing sector data was positive. December Existing Home Sales rose 12% from November. The inventory of unsold existing homes declined 4% to an 8.1-month supply. First-time buyers purchased 33% of existing home sales. December Housing Starts fell from November, but December Building Permits, a leading indicator, rose to the highest level since March. The performance of the housing market varied in different regions, but to see improvement on the national level is encouraging.

Real estate market primed for turnaround

2010-12-30T16:31:00.002-05:00

Great article in the Savannah Morning News about the current real estate market in Savannah...and check out the spotlight on the great things happening at Keller Williams!

Posted: December 29, 2010 - 11:04pm Updated: December 30, 2010 - 8:06am
By Adam Van Brimmer

Charles Dickens didn't have the Savannah real estate market in mind when he penned the line, "It was the best of times, it was the worst of times."

The notion certainly applies, however.

The best of times: Available housing and commercial buildings are as affordable as they've ever been. Even with interest rates rallying off historic lows in the last month, it's a buyer's market. And there is plenty of property to choose from. The supply and diversity, particularly on the commercial side, should be an advantage for Savannah.

With Savannah's economic engines - the port, manufacturing facilities, distribution centers - slowly spooling up in the second half of 2010 and tourism booming, the outlook is for a busy 2011.

The worst of times: The real estate bust has handcuffed those who work in the industry and brought community banks to the brink. The area has lost 3,000 construction jobs since 2007, and the local home builder ranks have been halved over the last two years.

A handful of real estate brokerages now handle the majority of transactions. For example, residential brokerage Keller Williams Coastal Area Partners had several record months in 2010 despite the weak housing market.

As for the banks, the drop in real estate values attracted regulator attention. Two Savannah-based community banks were closed in 2010 as was another bank with a Savannah branch. Two more received a public scolding from regulators. Several others are saddled with loads of non-performing loans.

Yet the underlying reasons for the housing slump - limited job creation, stagnant incomes and constrained in-migration - will dissipate as the economy recovers.

Real estate will follow, according to economist Michael Toma, the director of Armstrong Atlantic State University's Center for Regional Analysis.

"We will continue to grow, because in the long run this remains an attractive place to live, work and retire," Toma said. "And as we grow going forward, we'll do so in a much more sustainable and healthier way economically."

Good supply

Savannah has what home buyers and businesses are looking for - and at a good price.

The average sales price of a home is relatively unchanged compared to a year ago. But buyers are getting more for their money: The average list price is down 17 percent.

Sales are up in Chatham County's traditionally desirable areas such as the Historic District, Wilmington Island, Skidaway Island and Isle of Hope. The areas that benefited most from 2009's first-time homebuyer tax credit programs were off those marks in 2010.

Yet inventory remains high across the Savannah metro area, which includes Bryan and Effingham counties, and the result is low prices and a wide range of amenities.

"We do have a little something for everyone, from starter homes to waterfront," said Monica Spillane, president of the Savannah Board of Realtors.

The commercial real estate sector is "starting to percolate," as one broker in town put it. The oversupply of space that resulted from the Port of Savannah's growth prior to the recession will be attractive to companies looking to expand and relocate.

Chatham County alone has more than 40 million square feet of ready-for-lease warehouse and manufacturing space.

"Savannah has all types of facilities, in different configurations and different increments of space," said David Sink, a commercial real estate agent with Collier Neely Dales. "Somebody coming into this market can get what they want. That's not the case anywhere else in the region."

Undeveloped land, complete with City of Savannah services and close to the interstates and the port, is also available. High-profile locations in Chatham County include the State of Georgia megasite, Crossroads Business Park, the CenterPoint Intermodal Center, Dean Forest Business Park and the Newton Tract.

Bryan County features Interstate Centre and Belfast Commerce Centre, and Effingham County boasts the Effingham County Industrial Park and the Research Forest Tracts.

Stability needed

Just as Savannah's real estate collapse trailed most of the rest of the country, the fear is a recovery may come late, too.

Residential sales and sales prices didn't start to trend down here until September 2007 and didn't enter freefall mode until a year later. Foreclosures began to mount about the same time. Values have dropped about 30 to 40 percent - depending on who you talk to - since the bust and continue to creep down.

Some bankers doubt prices have hit bottom while others believe values are "bouncing along" the bottom.

Stemming foreclosures and selling off repossessed properties will lend stability.

Unfortunately, Savannah's foreclosure rate has been climbing since April, according to foreclosure research firm CoreLogic, and the number of bank-owned properties is double what it was 18 months ago. Savannah's community banks alone count repossessed properties as 2.5 percent of their assets on average.

Throw in the market's big banks - Wells Fargo, Bank of America, SunTrust - and it's easy to see why Realtor signs with "bank-owned" scrawled on them dot seemingly every street in town.

"We're going to have to get through the majority of those issues to see across-the-board stability," Spillane said. "There are just too many things we have no control over. When a bank owns 10 foreclosures in one neighborhood, they obviously can't hold on to those, and that impacts prices. Fortunately, some neighborhoods are through it and have stabilized. Are prices moving up or are they going to move up? I'll let the statistics speak to that."

On the commercial side, all rates and prices are negotiable. Vacancy rates have risen from 7.5 percent at the end of 2007 to close to 20 percent currently. Lease rates are averaging $3.73 a square foot for warehouse space and $8.14 per square foot for office space, according to a report by Gilbert & Lattimore Commercial Real Estate.

Commercial values won't stabilize until inventory shrinks and then will likely rise rapidly as no speculative construction is under way or in the planning stages.

"Once the current oversupply of inventory is absorbed, the real estate market should turn around very quickly," said Harvey Gilbert of Gilbert and Lattimore. "It's really just a matter of when."

View original article: http://savannahnow.com/exchange/2010-12-29/real-estate-market-primed-turnaround

Clean house: Tips for paying down your mortgage

2010-12-17T17:29:00.002-05:00

Published: Friday, 17 Dec 2010 1:56 PM ET

NEW YORK - Don't let your biggest debt run your life. There are ways to trim your monthly costs that will move you closer to a mortgage-free retirement.

PAYING EARLY: Make one extra payment every year and apply the extra cash toward principal.

"That will cut about 8 years off your 30-year fixed loan," said Pava Leyrer, president of Heritage National Mortgage in Michigan.

There are several ways to do this. You can make a full extra payment all at once. Leyrer suggests using your tax refund.

Still, it may be easier to pay throughout the year. For example, if your monthly payment is $1,200, pay $100 each month. Another option: Some banks will deduct half the mortgage payment from your account every two weeks, which adds up to 13 payments a year.

However, a lump sum payment will shave an additional five to six months off the life of the loan, Leyrer said. That's because the amount of interest you pay will decline faster.

A note of caution: Know if your mortgage has a prepayment penalty, generally found on loans before 2008. In some cases, the penalty is only in place for the first few years and may only apply if you pay off a substantial amount (like 20 percent). This will add an extra cost if you refinance and pay down some of your debt, or sell early and pay off your loan. You also should be able to opt out of this penalty, but may see a bump in the interest rate as a result.

SEEK A LOWER RATE: You're probably aware that mortgage rates have been at their lowest level in decades. What does that mean for you as a homeowner? You could possibly shave hundreds of dollars off your monthly payment. The rule of thumb is that refinancing often makes financial sense if you can secure a rate that's one percentage point or more lower than your current loan. You will pay off the closing costs with the savings within a couple of years, and realize greater savings on interest over the life of the loan.

There are other refinancing tricks. Some of Leyrer's clients are choosing to go from a conventional, 30-year fixed loan, to one backed by the Federal Housing Administration that offers an assumability feature. It often has a lower rate, but more importantly, it allows a buyer to take on the loan if the homeowner sells the house.

For homeowners looking to increase their home's value through improvements or repairs, opt for an FHA 203K loan for expenses up to $35,000. It wraps all the loans for the repairs and renovations into the home loan and typically offers a lower rate than a personal loan.

Homeowners with jumbo loans — generally defined as mortgages over $417,000 — should consider seeking a lower rate if they come into some extra cash. These borrowers can pay off some of the loan to reduce their debt below $417,000 and then refinance. They'll be able to qualify for a conventional mortgage and likely have a lower interest rate that can slash hundreds off a monthly payment.

Others should weigh a mortgage with a shorter duration. John Stearns, a banker at American Fidelity Mortgage Service Inc., just refinanced a homeowner who had 29 years left on his 30-year fixed mortgage. The borrower refinanced into a 25-year fixed loan. He's paying $24 more each month, but will save $35,212 in interest.

INSURANCE INS & OUTS: Lenders require private mortgage insurance, or PMI, if a borrower owes more than 80 percent of the home's value. This adds to the monthly mortgage payment.

But don't get stuck paying for longer than you have to. Lenders are only required to cancel PMI when the borrower owes 78 percent of the home's value or less, Stearns noted. But borrowers can get an appraisal to prove they owe less than 80 percent and require the lender to cancel the PMI.

BE TAX SAVVY: Part of the perks of being a homeowner is that mortgage interest payments are tax deductible. To increase your deduction, make your January payment before December 31 of the previous year. That will also add up to 13 payments for the year and the bigger tax refund can be used to get ahead.

View original article: http://www.cnbc.com/id/40720989

Just Listed!

2010-12-13T12:52:00.002-05:00

5607 Cherokee Avenue

Beautiful Dutch Colonial home built on a large lot and with a gambrel roof. This home has well planned space through-out including open porches on each end, wraparound porch on the front leading to a spacious patio on side. All rooms open to outside space. Comfortable Living &Dining Rooms each with the warmth of the centrally located fireplace. The open well planned kitchen is fully equipped and has light birch butcher block style countertops. This home is comfortable, open, spacious and well maintained.

Click on the image above to view a visual tour of the home.

For additional residential or historic real estate in Savannah, Georgia please visit www.DonCallahan.com

Just Listed in Kensington Park!

2010-12-13T12:47:00.002-05:00

253 Varn Drive

Awesome mid-century modern architecture in one of Savannah's most desirable communities. This 1954 long and low ranch is on a tree lined road in the center of Kensington Park. It was recently renovated including a beautiful kitchen with raised panel birch cabinets and stainless steel appliances. The kitchen opens to a generous breakfast room. The living room has a most unusual fireplace with a very swank long horizontal hearth and mantle. It is adjacent to a family room or office also with a unique fireplace. Three spacious bedrooms, two full bath rooms and plenty of closets. The house sits on a large lot and has a quiet meditation garden tucked behind tall bamboo.

Click on the image above to view a visual tour of the home.

For additional residential or historic real estate in Savannah, Georgia please visit www.DonCallahan.com

The Shrinking House: Downsizing the American Dream

2010-11-15T13:22:00.001-05:00

By: Cindy Perman
CNBC.com Staff Writer

Home ownership has long been a symbol of the American Dream and for a while there, we SUPERSIZED it. But since the recession, we’ve been downsizing it.

The median home size in America was near 2,300 square feet at the peak of the market in 2007, with many McMansions topping 10,000 square feet.

Today, the median home size has dropped to about 2,100 square feet and more than one-third of Americans say their ideal home size is actually under 2,000 square feet, according to a survey by real-estate site Trulia.

“The whole glow of bigness kind of wore off all of a sudden,” said Sarah Susanka, an architect and the author of “The Not So Big House” book series.

Builders are responding by chopping out rooms that people just don’t use anymore, particularly formal living rooms and sitting rooms.

“You’re not having the king and queen of England to dinner but Joe and Kathy from next door — and they’d prefer to be in your informal space!” Susanka said.

Even media rooms, game rooms and libraries are on the way out, added Boyce Thompson, the editorial director for Builder magazine.

Every year, Builder does a concept home that represents where the market’s at. This year, it was called “A Home for the New Economy,” which weighed in at around 1,700 square feet – and, interestingly, was only designed virtually. (Take a virtual tour.)

Instead of having a formal living room and a family room, the Home for the New Economy has one big “great room” and instead of a home office, an extra bedroom on the main floor doubles as a guest room/home office—or even an in-law suite. They were even careful to chop out unnecessary hall space.

“The key today is to provide flexible space,” Thompson said.

So, instead of a game room, you may have a gaming area in part of your great room. Instead of a library, you may have a reading nook.

The “proliferation of bathrooms” is also on the way out, Susanka adds. For a while there, it seemed, every room had its own bathroom and people just didn’t use them. It’s time “to bring some sanity back to the equation,” she said.

But just because a house is small, doesn’t mean it has to feel small. Architects are finding all kinds of design tricks to make a home feel bigger, from varying the ceiling height — seeing that a ceiling is higher in the next room makes it feel even bigger — or putting a direct line of sight to an outdoor space like a porch or deck. As your eye sees past the room to the outside, the space feels bigger.

The Front Porch Makes a Comeback

It’s not just the inside of the house that’s changing, it’s the outside, too. The yards are smaller, with many developments favoring shared green spaces over big private yards.

And, the front porch is back. Builders are increasingly moving the garage to the back of the house and adding a big porch on the front.

Seeing a big porch through the dining room, and a shared green space beyond that adds to the illusion that you are getting more — and it makes you want to get out there and reconnect with your neighbors.

At the height of the market it was all about “suburban sprawl,” with everyone in their back yards, with their own deck, their own swingset, their own pool — and barely knowing their neighbors. Today, the buzz word is “smart growth” — smaller more sustainable communities that really have a sense of community.

That’s partly because it’s better for the environment and community building, but there’s a more practical reason.

“Most households now have two people working,” said John McIlwain, a senior resident fellow at the Urban Land Institute. “Who wants to spend their time cleaning their house … or taking care of big yards … when they have kids to take care of?”

He said a magnet on his daughter-in-law’s fridge sums it up: “A clean home is a sign of a wasted life!”
It’s not just young people, either — empty nesters don’t want to spend their weekend mowing the lawn either!

This shift is evident in Denver’s Stapleton neighborhood, a new urbanist community built on the site of the old airport, which is meant to bring that suburban, small-town feel into a neighborhood within the city limits.

Here, their yards are tiny by design and no one has a pool — not even the million-dollar homes. Instead, they have an 80-acre shared park, aptly named Central Park, smaller “pocket parks” that become shared yards and three — soon to be four — public pools.

The Friday Afternoon Club

The concept may seem offputting to some, who may not think they want to know their neighbors. But there’s a sense of community there that you scarcely find elsewhere, with passersby saying hello to families on the porch and making plans to head out to a pocket park to play, or attend a free concert or movie in the park.

“People have just accepted the tradeoff,” said Denise Gammon, a vice president at Stapleton’s developer, Forest City Enterprises. “They think, ‘I don’t have a big, private yard, but boy do I have this amazing range of open space that’s completely accessible to me,’” she explained.

“It creates a really cohesive community,” added Heidi Majerik, the director of development at Forest City, who lives and works in Stapleton. “We get 1,000 to 2,000 people at weekend events and there are tons of informal events like the Friday Afternoon Club, where people bring out chairs, wine and appetizers and the kids play,” she explained.

“There’s a lot of movement toward neighborhoods like this,” Susanka said.

Susanka is currently designing a home in a similar neighborhood, Libertyville, Ill., just north of Chicago.

Neighborhoods like Stapleton and Libertyville are more densely populated but more vibrant, highly walkable and have charming downtown areas — something the next crop of homebuyers is demanding.

“Gen Y is looking for that kind of vibrant downtown flavor with smaller homes,” Susanka said. “They realize that there’s a value to being connected to one another but still maintain their privacy. There’s a balance between privacy and community.”

This new love affair with the front porch reflects that desire for community, and extends into the downtown area.

“They’ll go from their house down to the local restaurants, which then becomes like a part of their house,” she explained.

It's 'Back to the Future': Green Edition

It feels a lot like “Back to the Future,” with this return to small-town life. But there’s one major difference: Energy efficiency.

If it’s one thing the recession taught us, it’s to stretch our dollars further and no where is that more evident than in energy consumption.

Energy consumption has moved from an option when building a new home to the standard when it comes to appliances, windows, furnaces and climate control.

“People are really concerned after the energy scare of 2008 — they’re worried about what it’s going to cost to run their house,” Thompson said. “No one wants a gas guzzler — especially because it impairs resale down the road.”

Among the energy-smart options you may see down the road, that are just being experimented with now, are master controls for a home’s energy efficiency (much like the master control for the lights, heat and stereo) as well as private wind turbines in the backyard that may be connected to the grid — or take the home completely energy independent.

Of course, there will always be some people who want that big backyard and the fact that land prices are so cheap right now will make that more accessible for those who want it, McIlwain said.

One thing’s for sure: The memory of the recession will continue to impact the decisions people make when it comes to the home for years to come.

People are asking themselves, “How are we going to make this house in proportion to the next economic downturn, so that we’re not out on a limb?” Susanka said.

Daylight Savings Time Reminder

2010-11-05T15:25:00.001-04:00

For this year in fall 2010 Daylight Savings Time comes to an end on Sunday, November 7, 2010 at 2 a.m. You will gain an hour of sleep this fall 2010 when you "fall back" and move your clocks back one hour on November 7, 2010. (or you can change your clocks before you go to bed Saturday night).

Ardsley Park Bungalow - Sold in 56 Days!

2010-10-20T13:35:00.004-04:00

After being on the market with a different Realtor, Andrew and Teri decided to call Don to sell their house. The result: 56 days later and we were under contract!

6 Reasons to Reduce Your Home Price

2010-10-18T11:23:00.001-04:00

By: G. M. Filisko
Published: March 19, 2010
Article from HouseLogic.com

While you'd like to get the best price for your home, consider our six reasons to reduce your home price.

These six signs may be telling you it’s time to lower your price.

1. You’re drawing few lookers
You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2. You’re drawing lots of lookers but have no offers
If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home’s been on the market longer than similar homes
Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline
If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.

5. You can’t make upgrades
Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6. The competition has changed
If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what's still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

From a Maine House, a National Foreclosure Freeze

2010-10-18T10:43:00.005-04:00

By DAVID STREITFELD
Published: October 14, 2010

DENMARK, Me. — The house that set off the national furor over faulty foreclosures is blue-gray and weathered. The porch is piled with furniture and knickknacks awaiting the next yard sale. In the driveway is a busted pickup truck. No one who lives there is going anywhere anytime soon.

Nicolle Bradbury bought this house seven years ago for $75,000, a major step up from the trailer she had been living in with her family. But she lost her job and the $474 monthly mortgage payment became difficult, then impossible.

It should have been a routine foreclosure, with Mrs. Bradbury joining the anonymous millions quietly dispossessed since the recession began. But she was savvy enough to contact a nonprofit group, Pine Tree Legal Assistance, where for once in her 38 years, she caught a break.

Her file was pulled, more or less at random, by Thomas A. Cox, a retired lawyer who volunteers at Pine Tree. He happened to know something about foreclosures because when he worked for a bank he did them all the time. Twenty years later, he had switched sides and, he says, was trying to make amends.

Suddenly, there is a frenzy over foreclosures. Every attorney general in the country is participating in an investigation into the flawed paperwork and questionable methods behind many of them. A Senate hearing is scheduled, and federal inquiries have begun. The housing market, which runs on foreclosure sales, is in turmoil. Bank stocks fell on Thursday as analysts tried to gauge the impact on lenders’ bottom lines.

All of this is largely because Mr. Cox realized almost immediately that Mrs. Bradbury’s foreclosure file did not look right. The documents from the lender, GMAC Mortgage, were approved by an employee whose title was “limited signing officer,” an indication to the lawyer that his knowledge of the case was effectively nonexistent.

Mr. Cox eventually won the right to depose the employee, who casually acknowledged that he had prepared 400 foreclosures a day for GMAC and that contrary to his sworn statements, they had not been reviewed by him or anyone else.

GMAC, the country’s fourth-largest mortgage lender, called this omission a technicality but was forced last month to halt foreclosures in the 23 states, including Maine, where they must be approved by a court. Bank of America, JPMorgan Chase and other lenders that used robo-signers — the term caught on instantly — have enacted their own freezes.

The tragedy of foreclosure is that some homeowners may be able to stay where they are if their lenders are more interested in modification than eviction. Without a job, Mrs. Bradbury is not one of them. Her family, including her 14-year-old daughter and 16-year-old son, lives on welfare and food stamps.

“A lot of people say we just want a free ride,” Mrs. Bradbury said. “That’s not it. I’ve worked since I was 14. I’m not lazy. I’m just trying to keep us together. If we lost the house, my family would have to break up.”

It has been two years since she last paid the mortgage, which surprises even her lawyers.

“Had GMAC followed the legal requirements, she would have lost her home a long time ago,” acknowledged Geoffrey S. Lewis, another lawyer handling her case.

GMAC, which began as the financing arm of General Motors, has received $17 billion from taxpayers in an effort to keep it from failing and is now majority-owned by the federal government. A spokeswoman for the lender declined to comment on Mrs. Bradbury’s case because it was still being litigated.

John J. Aromando of the firm of Pierce Atwood in Portland, Me., the lawyer for GMAC and Fannie Mae, the mortgage holding company that owns Mrs. Bradbury’s loan, did not return calls for comment on Thursday.

Fannie Mae and GMAC, which serviced the loan for Fannie, have now most likely spent more to dislodge Mrs. Bradbury than her house is worth. Yet for all their efforts, they are not only losing this case, but also potentially laying the groundwork for foreclosure challenges nationwide.

“This ammunition will be front and center in thousands of foreclosure cases,” said Don Saunders of the National Legal Aid and Defender Association.

Just a few miles from the New Hampshire border, this slice of Maine does not have much in the way of industry or, for that matter, people. Mrs. Bradbury grew up around here, married and had her children here, and married for a second time here. Her parents still live nearby.

In 2003, her brother-in-law at the time offered to sell her a house on property adjacent to his. It was across from a noisy construction supply site. But it was ringed by maple, evergreen and willow trees, and who does not want to be a homeowner, especially when GMAC Mortgage will give you a loan for the entire purchase price and then another loan to improve the property?

“I was very happy,” she remembered. “It was a new beginning.”

But Mrs. Bradbury lost her job as an employment counselor in 2006 and did part-time work after that. Her husband, Scott, was in poor health and had other problems. He could not work as a roofer. She fell behind and got a modification from GMAC. It increased her monthly payments and provided no relief.

Finally, in late 2008, she stopped paying altogether, and GMAC asked a court to approve her eviction without a trial. By the summer of 2009, this removal was well under way when Mr. Cox picked up her file.

Mr. Cox, 66, worked in the late 1980s and early 1990s for Maine National Bank, a subsidiary of the Bank of New England, which went under. His job was to call in small-business loans. The borrowers had often pledged their houses as collateral, which meant foreclosure.

“It was extraordinarily unpleasant, but it paid well,” he said. “I had a family to support.”

The work exacted its cost: his marriage ended and a serious depression began. He gave up law and found solace in building houses. By April 2008, he said, he was sufficiently recovered and started volunteering at Pine Tree Legal.

By the time Mr. Cox saw Mrs. Bradbury’s case, it was just about over. Last January, Judge Keith A. Powers of the Ninth District Court of Maine approved the foreclosure, leaving the case alive only to establish exactly how much Mrs. Bradbury owed.

Mr. Cox vowed to a colleague that he would expose GMAC’s process and its limited signing officer, Jeffrey Stephan. A lawyer in another foreclosure case had already deposed Mr. Stephan, but Mr. Cox wanted to take the questioning much further. In June, he got his chance. A few weeks later, he spelled out in a court filing what he had learned from the robo-signer:

“When Stephan says in an affidavit that he has personal knowledge of the facts stated in his affidavits, he doesn’t. When he says that he has custody and control of the loan documents, he doesn’t. When he says that he is attaching ‘a true and accurate’ copy of a note or a mortgage, he has no idea if that is so, because he does not look at the exhibits. When he makes any other statement of fact, he has no idea if it is true. When the notary says that Stephan appeared before him or her, he didn’t.”

GMAC’s reaction to the deposition was to hire two new law firms, including Mr. Aromando’s firm, among the most prominent in the state. They argued that what Mrs. Bradbury and her lawyers were doing was simply a “dodge”: she had not paid her mortgage and should be evicted.

They also said that Mr. Cox, despite working pro bono, had taken the deposition “to prejudice and influence the public” against GMAC for his own commercial benefit. They asked that the transcript be deleted from any blog that had posted it and that it be put under court seal.

In a ruling late last month, Judge Powers said that GMAC, despite its expensive legal talent and the fact that it got “a second bite of the apple” by filing amended foreclosure papers, still could not get this eviction right.

Even the amended documents did not bother to include the actual street address of the property it was trying to seize — reason enough, the judge wrote, to reject the request for immediate foreclosure without a trial.

But Judge Powers went further than that, saying that GMAC had been admonished in a Florida court for using robo-signers four years ago but had persisted. “It is well past the time for such practices to end,” he wrote, adding that GMAC had acted “in bad faith” by submitting Mr. Stephan’s material:

“Filing such a document without significant regard for its accuracy, which the court in ordinary circumstances may never be able to investigate or otherwise verify, is a serious and troubling matter.”

It was not a complete loss for GMAC — Judge Powers declined to find the lender in contempt — but nearly so. GMAC was ordered, as a penalty, to pay Mr. Cox personally what he would have been paid for his work on the deposition and related matters had he been charging Mrs. Bradbury. That, he says, is $27,000.

The court’s ruling on GMAC’s “bad faith” is already being taken up by foreclosure defense lawyers around the country. Mr. Cox “did a remarkable job of proving the lenders not only rubber-stamped these loans on the front end, but they rubber-stamped them on the back end,” said Mr. Saunders of the legal aid group.

GMAC, which this week expanded its foreclosure freeze to the entire country, is not giving up on Mrs. Bradbury. It will try for the third time to evict her when the case goes to trial this winter.

If Mrs. Bradbury is not quite victorious, she is still in her house, and for her that is the only thing that counts. If she can get her pickup fixed, she will go back to looking for a job.

“I am not leaving,” she said this week, standing out on her front lawn, the autumn splendor spread all around her. “We have nowhere to go.”

Original article: http://www.nytimes.com/2010/10/15/business/15maine.html?_r=1&emc=eta1

This Month in Real Estate (US) : October 2010

2010-10-12T09:11:00.000-04:00

The latest from Keller Williams Realty International... "This Month in Real Estate."

Ten Ways to Green Your Home Under Ten Bucks

2010-09-30T16:31:00.003-04:00

(and if you don't have ten bucks, five that are free)

By Lloyd Alter
Wed Jan 21, 2009 17:08

Free. Nothing. Nada.
Things you can do that will make a real difference for no money at all.

1.Lower water heater temperature to 120°F
2.Decrease Thermostat temperature by 3°F
3.Wash clothes in cold water
4.Air dry clothes during summer
5.Turn off unneeded lights

Under Ten Bucks
Save Heat

1.Seal your windows with strippable caulk
This is the clear stuff that is designed to peel off when it is time to open the windows again, and seals the gaps that occur at any moving part of a window. This is particularly important if you have old windows where the seals have loosened up a bit.

2.Shrink-wrap your windows
Get the plastic films that tape around your windows and then shrink tight under the heat from a hair dryer. They cut heat loss and are almost invisible. Not suitable for houses with cats, as we found out the hard way.

3.Weatherstrip your doors
A surprising amount of air leaks around them. Just be sure that the door will still close properly; I have added weatherstrip and then had to remove it again as the door just wouldn't close properly with the added foam.

4.Get a snake
Or make your own—a door snake stops draughts from under a door where it is hard to weatherstrip.
5.Get some cheap slippers
Or a hoodie. The easiest way to feel warmer and save energy is to wear more clothing. It also keeps your house cleaner and warmer.

6.Change your furnace filter
The furnace has to work harder to push through all the schmutz that gets caught in your filter if it is doing its job.

Save Water

7.Lose the drips
A dripping faucet can waste 20 gallons of water a day. A leaking toilet can use 90,000 gallons of water in a month. Get out the wrench and change the washers on your sinks and showers, or get new washerless faucets. Keeping your existing equipment well maintained is probably the easiest and cheapest way to start saving water.

8.Add a faucet aerator
Mixing in the air reduces the water consumed. Some aerators have an on/off lever so that you can stop most of the water flow without affecting the temperature, saving even more water.

Save Electricity

9.Get a switched power bar
Plug all your wall-warts into the power strip so that it is easy to turn things off when you are not using them. You can't get them for ten bucks, but there are some very slick power bars out there now.

10.Change a light bulb
Still have any incandescent bulbs lighting your home? Time to change them; they have better color, faster starts and less mercury than ever. Just be sure to recycle them properly!

Original article: http://planetgreen.discovery.com/home-garden/green-home-ten-dollars.html

Community Profile: Historic Downtown Savannah

2010-09-28T10:47:00.004-04:00

Savannah's founder, General James Oglethorpe, had already planned the layout of Downtown Savannah when he arrived here in 1733. His progressive ideology involved an interactive mix of architecture and green space with the intent of blending peoples from all walks of life.

Per his plans, Historic Downtown Savannah is a blend of stately homes and townhouses along with a stock of commercial spaces all centered around the original squares. The famous squares of downtown Savannah are lush green spaces shaded by magnificent live oaks dripping Spanish moss. Benches set beneath the trees allow visitors and residents alike to witness the blur of activity. From horse drawn carriage tours to darting bicycle messengers modern day Downtown Savannah is a unique microcosm that serves to confirm its founder's original intent as a vibrant urban melting pot.

Perhaps ironically, Georgia's First City is also home to the most cutting-edge art school in America, Savannah College of Art and Design. It has called downtown Savannah home for 30 years and has grown in prestige from oddball upstart status to international acclaim, all along keeping its feet firmly planted in the heart of the city.

-- Savannah College of Art and Design
-- Streetscape
-- Squares
-- Unique old structures
-- Boutiques, restaurants and galleries
-- Forsyth Park

Three Tips for Selling

2010-09-27T14:54:00.000-04:00

Check out this short video from Keller Williams Realty: "3 Tips for Selling." Be sure to visit the Sellers Page of DonCallahan.com for additional resources.

7 Reasons to BUY NOW

2010-09-22T13:56:00.004-04:00

Check out Keller Williams Realty's newest e-book "7 Reasons Why Now is a Great Time to Buy a Home!" This guide provides excellent examples as to why now is the best time to buy a house. (Also available on the Buyers page of www.DonCallahan.com) Mortgage rates have never been lower, home prices are excellent, and the inventory is full. If you are ready to buy now, contact us today at don@doncallahan.com.

Drama-Free Real Estate: Seller Tip #8

2010-09-14T09:25:00.001-04:00

By Tara-Nicholle Nelson, FrontDoor.com Published: 4/14/2009

#8: Get a real estate market reality check. (And kiss fantasyland goodbye.)
Walk a mile in the shoes of a prospective buyer for your home. They are out there. And they are well-educated. Today's qualified homebuyers have every piece of data about home prices and sales trends in your neighborhood. They are willing to pay a fair price, but they know how to formulate a fair offer to a degree that previous generations of buyers have never had the ability to do. All the info is just a few keystrokes away! And they have an incredible level of house hunting stamina from having seen so many foreclosed homes with abandoned remodeling projects and ripped out plumbing.

Clueless is as clueless does. So, a buyer is doing their nightly obsessive scouring of the Web listings of homes for sale in their price range in your town, and your listing comes up. What will their first response be? Do they think it's a serious prospect they should mull over? Do they instantly autodial their Realtor to set a first-thing-in-the-morning appointment to see your place? Or do they grab their sides as they roll on the floor in hysterical laughter, wondering what planet the seller is from to think someone would pay that for that place?

Long story short: clueless is a very bad look for a home seller. It's the easiest route to getting lowball offers or no offers at all. In a market like this, you might wish desperately that your home was worth more than it actually is. But check yourself -- wishing it were so doesn't make it so. If you're selling now, you probably really want or need to, so get over yourself and get clued into the realities of your market if you want to get it sold.

When on the Web, do as Web buyers do. Before you ever list your home with a Realtor, spend some time on FrontDoor.com perusing MLS listings the way a prospective buyer would. Check out the other listings in your neighborhood, and do an honest mental comparison of their homes to yours. This will start to give you a reality check on prices and price ranges. Then visit a site like Cyberhomes.com and type in your address to get an estimated value. It will show you the actual sales prices from nearby similar homes that have closed escrow, so you can begin to appreciate the difference between list price and sales price in your area.

Experience the competition, live and in person. Once you are familiar with recent sales prices and you've hired a Realtor, get up close and personal with your competition. Stroll through a few open houses and see what your house is up against, in terms of condition and staging. Then ask your Realtor to analyze the competing listings on the basis of how many days the active, pending and recently sold MLS listings in your area have been on the market. That way, you'll know up front which price points get quick buyer interest and about how long you should wait for an offer before you reduce your price.

Now, get real! Remember that the same buyers who come to see your place will have seen the other active listings too. So price or prep your place to be more attractive than the others. You will eliminate the clueless factor and get buyers to take you seriously when you get a real estate reality check, and let the data drive a fact-based pricing and property preparation strategy.

Do You Know a Homeowner Facing Foreclosure? Here’s A Way Out.

2010-09-13T10:35:00.001-04:00

Headlines today are filled with stories about homeowners in financial distress—people who face a lender’s foreclosure on their home.

Millions of American home owners are wondering what to do.

Like most crises, this one has produced its share of rumors and misinformation. One of the biggest ones is “just let it happen." Why fight back, this line of thinking goes. It’s too emotionally draining, and the government’s loan modifications aren’t helping many people. Well, that’s only partly true.
While government loan modification programs have fallen short of the mark so far, there is another solid, sensible option for homeowners. It’s called a short sale—a sale to a buyer where the seller’s lender agrees to accept less than the full amount owned.

Why not be foreclosed? Why sell short? Agents who have closed hundreds of these transactions provide this list of reasons:

• Avoid the foreclosure stigma – Homeowners will always have to disclose that they had a foreclosure on any mortgage application and (many job applications) that they submit in the future. This can have an adverse affect on their future mortgage rates. Foreclosure is asked about specifically in credit inquiries. There is no seven-year time limit on this item.

• Protect credit score – Credit scores will be lowered by 300-plus points (per loan) by foreclosure. The impact of a short sale—about half that much.

• Improve eligibility for a government insured loan – The homeowner will be ineligible for a government insured loan for 5-7 years (only two years in a short sale). A foreclosure is the one credit report item that is almost impossible to have repaired.

• Avoid a deficiency judgment – Lenders can seek a deficiency judgment against the homeowner and collect any amount they do not recover at sale.

• Protect employment prospects – Many employers run credit checks on prospective employees. Foreclosure is one of the top items that will put a potential new hire, or even current employment, in jeopardy.

These are the top reasons, but there are more. An expert short sale specialist agent can give a full picture of the options.

One more tip. Don’t believe everything you read about how long short sales take and how few get finalized. Short sale timelines, while still longer than normal, are shrinking as lenders get their paperwork act together. I am a top short sale agents in your market. I know where to find buyers, and how to negotiate the buyer’s offer effectively with lenders and get the deal closed—so the homeowner can move on with life and recover.

Drama-Free Real Estate: Seller Tip #9

2010-09-09T13:49:00.001-04:00

By Tara-Nicholle Nelson, FrontDoor.com

#9: Differentiate your home from the competition.
Between the short sale next door and the foreclosure down the street, it's very tough to demand top dollar for your home when buyers have so many bargains to choose from.

Let's get one thing straight -- this is a competition. When a buyer sees your home, they are choosing between your house and the others on the market in their price range. The home they choose is the winner.

So, how can you spank your home's competition, real estate-style?

Make your house the place to be. Short sales and foreclosures are notorious for skimping on the marketing. So go all out to get neighbors and buyers into your home and talking about it by having an Open House party that highlights the best lifestyle features of your property. If your home has ocean views, throw a twilight cocktail party. If it's a great family home in the best school district in town, have hot dogs, a bounce house and face-painting. Be a little over-the-top, and have your Realtor invite the neighbors and the local buyers' brokers.

Take your staging to the next level. When I show foreclosures to my clients, I generally keep a vat of hand sanitizer in the car and pass it around between properties; that's just how filthy they can be. You can set your house totally apart from the bargain-basement priced competition by making sure it is only shown in immaculate condition. Bathrooms, kitchens, walls and floors should be pristine, and if you can swing new chic paint and flooring choices, that's even better. Stage it with tasteful furnishings and decor that depict the uncluttered, space-maximizing life every buyer wishes they could live, even if it means you have to move out in the meantime!

Use incentives to buy some house hunter love. Any expensive lifestyle amenities that you can leave behind, especially house hunter faves like stainless steel appliances and fireplace-mounted plasma TVs, make good buyer incentives your Realtor can tout in your home's marketing. I've even seen sellers offer to park a new Prius in the garage at closing, you know, so that the new buyer can save on gas to afford their new mortgage! (Do check with your Realtor regarding incentive strategies; some items might not be allowed by the buyer's bank.)

Make your place easier to buy than a short sale or foreclosure. Every homebuyer on the market today knows that doing a deal with the bank can be, how shall we say, less than fun and less than fast. Okay, it can be slow and painful. So, your home's marketing should let the world know that buying your place will be a smooth, easy deal. If you are in the position to offer any seller-financing or other creative deal structures, like a lease-purchase option, even better -- you've just expanded the pool of folks who can qualify to buy your home!

For more drama-free real estate from FrontDoor.com visit http://www.frontdoor.com/sell/Drama-Free-Real-Estate-Guide-Tips-and-Advice-for-Savvy-Home-Buying-Selling-and-Financing-Without-the-Stress/55034

Drama-Free Real Estate: Seller Tip #10

2010-09-08T13:53:00.001-04:00

By Tara-Nicholle Nelson, FrontDoor.com

#10: Know your power. Understand what you can do to get your home sold, fast and at top dollar.

So much of the drama of selling a home is the sense of helplessness. It can feel like you're at the whim of the market, prospective buyers and even your local force of Realtors!

Not so -- in fact, you have a huge amount of power to control the outcome of your home selling experience. You actually make the decisions that have the most impact on whether your home sells, how fast it sells and what price you get for it.

It's all about the Benjamins. You and only you get to set the price, and the price is the single most important determinant of how fast and for how much your home sells. Now, look -- you know good and darn well from your own shopping experience -- both real estate and retail -- that a bargain-priced product catches your eye much more quickly than a regular priced product. Everyone wants a deal, so if you want your home to sell quickly, either price it lower than the similar houses on the market or make sure it is tricked out in features that buyers care about to warrant a premium price. The more buyers you lure into your house, statistically-speaking, the higher the price you'll get for it. If you price your home low, you'll get more buyers in it and maybe even get multiple offers. Yep, it happens -- even in this market, but it usually happens to great homes listed at low prices.

Conditional love. You get to choose what you are putting on the market: a contractor's special, a cosmetic fixer or a Pottery Barn-chic casa in move-in condition. If your home is in really bad shape, it's probably not cost- or time-effective to fix it for sale. But if it has one major issue that you can afford to fix, like replacing the roof or trading out the rotten windows with dual-paned, it might just be worth the effort. Talk to your Realtor first about how the repair might get you more money or help you get the place sold at all!

If your home has lots of little handyman projects that need to be fixed -- a hinky bathroom exhaust fan that sounds like a lawnmower; scuff-marked walls; or grungy, old-school cabinet hardware -- get them done! Homes that are almost "there" are the easiest ones to get some big upside out of a good sprucing up. But do interface with your Realtor on this, and coordinate your spruce up with her staging strategy.

To market, to market. You control how your home is marketed, because you pick your listing agent! Be smart and pick one with a strong marketing plan that has demonstrated success attracting buyers in your area. And don't ever mentally check out of the marketing process. Until your home is sold, go online periodically and have a look-see at how your home is being presented to web-surfing house hunters. If you don't like what you see, take it up with your Realtor. They aim to please and will usually work with you to tweak your home's marketing pieces till they reflect your home in as good a light as possible without using pics of someone else's house!

See, you have a lot more power over the sale of your home than you thought. Wield it wisely!

2010-08-24T17:16:00.001-04:00

Guest post by James Kelley
www.VAbenefitblog.com

Owning a home in the same place where historic battles took place and parks as old as the United States itself exist can be a true treasure to pass down to one’s children.

Buying a home, however, can be a stressful process, especially if you go the conventional route. And if we’re talking about U.S. Veterans, men and women who have done so much for the country, the last thing they need is hassle.

But even other government-backed programs are saving everyday people from the burden of conventional loan processes. Programs like the VA, USDA, and FHA mortgage plans give people the chance to buy a home without the stress and heavy expense. How? All three programs have great perks and offer lower rates. Let’s take a look at them.

FHA Loan
The Federal Housing Administration insures the FHA loan. Unlike the VA and USDA loan, the FHA has no income limits or career type requirements. It’s open to anyone and everyone.

An FHA loan has lower closing costs. The down payment is about 3.5 to 5%, which is about three times lower than conventional loans. All of the government-backed programs allow families to use gifted or borrowed money to make payments or put towards a down payment, if applicable. Conventional loans do not allow money from sources in which a proper paper trail cannot be kept.

The FHA program is a favorite among many buyers especially low to middle income families because the credit and debt requirements are not super strict. With the FHA, it is feasible for anyone with past financial errors to work his or her way back up to a decent score and obtain the loan.

USDA Loan
The U.S. Department of Agriculture secures USDA loans. Only homes within rural localities can be bought with this mortgage program. Check with a USDA lender to see which areas around Savannah, GA are eligible for the program.

The USDA, like the VA program, does not require a down payment. Other perks include 100% financing, no monthly mortgage insurance fees, and the actual mortgage payment is sometimes lower than the FHA loan. One slight downfall is the USDA does set income limits to determine eligibility.

VA Loan
Many veterans do not know about the growing popularity of the VA loan. Secured by the U.S. Department of Veteran Affairs, it offers amazing deals and an easy application process.
The rates are low, and there is no money down or monthly mortgage insurance.

VA loans can be guaranteed up to $729,000, in some areas. The average loan is about $207,000. There are no upfront fees, except for a possible appraisal fee, though having a service-related disability allows the lender to waive funding fees. The buyer and the lender, however, will still have to bring in a certified home appraiser as per the VA requirements.

To qualify, the service member must be able to prove that they served in the military for 90 days during wartime and 181 days during a time of peace. He or she must have been honorably discharged. Veterans, active duty personnel, reservists and National Guard members can qualify. Also, some surviving spouses might be eligible for the VA loan.

The Next Step
Talk with a lending counselor today. They can help you decide which option will save you the most money.

Buying a Foreclosure

2010-08-12T10:07:00.002-04:00

Interested in buying a foreclosure or a short-sale? Check out Keller Williams' Distressed Property E-book.

From KW.com:
The truth is: these markets demand most of the same things an ordinary market demands of buyers—only more intensely and pointedly:

Money: Buyers must be financially qualified and ready to buy. The best properties go quickly. Buyers must look strong to lenders.

Motivation: Buyers must be motivated to compete successfully. Keller Williams agents urge their buyers in this market to be clear about both their “motivating why" and their criteria for the property itself (size, location, condition, floor plan, etc.)

Location: Contrary to the rumors, prime buying opportunities exist in almost every neighborhood and price range.

Condition: Buyers should understand that repair costs are not necessarily large. The Keller Williams Distressed Property Buying Survey shows the average cost to repair to be $5,000—that’s less than 3 percent of the median purchase price in the U.S. today.

Expert Help: Finally, smart buyers know they need to be even smarter—they become a team with a local expert agent who knows local property, pricing, lenders, and the best listing agents. A strong listing agent can be a critical advantage in seeing a distressed property through from contract to close.

Money Magazine selects Savannah as one of the 25 Best Places to Retire

2010-08-10T10:02:00.002-04:00

CNNmoney.com

Savannah, GA
Population: 130,300
% over 50: 29%
Typical 3-bedroom home: $225,000
State income tax: 6.00%*

A stroll through the cobblestone streets in the historic downtown will take you past antebellum homes and 22 small public parks. Savannah's layout reflects the meticulous planning of founder James Oglethorpe in the early 18th century. Today, the refined city combines Old South charm, romance and history with New South energy and progressiveness.

The prestigious Savannah College of Art & Design keeps the city young and has fostered a lively art scene. Art galleries throughout the city showcase both local and national talent, and residents can enroll in a range of SCAD Community Education classes. The bustling downtown also offers a host of shopping boutiques and quality restaurants.

Other perks for retirees: Savannah has a property tax freeze, so the city assesses homes following a purchase, but does not increase the assessment until that property is sold. Memorial Health University and St. Joseph's Candler's hospitals provide top-notch healthcare.

View the original article here: http://money.cnn.com/galleries/2009/moneymag/0909/gallery.bpretire_top25.moneymag/8.html

Keller Williams Realty Named Highest Ranked in Home Buyer Satisfaction by J.D. Power and Associates for Third Straight Year

2010-08-02T10:42:00.001-04:00

AUSTIN, TEXAS (July 30, 2010) —According to the J.D. Power and Associates 2010 Home Buyer/Seller StudySM, Keller Williams Realty, Inc., the third largest real estate company in the United States, has received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms for the third year in a row. The company also ranked second among home sellers in the study for the second year in a row.

“We are incredibly proud of our associates for earning this distinction and want to thank them for their commitment to their clients and communities," said Mark Willis, CEO of Keller Williams Realty. “We see this honor as demonstration of our company philosophy that it is the agent’s brand that matters most and no amount of money spent on advertising can replace the influence and reputations our agents have in their local communities. Our associates have earned this on their own, by building relationships in their communities."

The study was produced by J.D. Power and Associates to measure home buyers and sellers customer satisfaction. The results of the home-buying experience were determined by three factors including the buyer’s experience with their agent, the real estate office and a variety of additional services. Keller Williams Realty performed particularly well in the agent and office factors. And, overall satisfaction of buyers for the industry was up over last year.

Additionally, the study noted that the importance of real estate agents has increased substantially in the past year, with buyers and sellers relying on the negotiating skills of their chosen agent and help in navigating the market.

“It is thrilling to see our firm, once again, get public recognition for its incredible focus on customer satisfaction from such a prestigious group. Our associates continually demonstrate that it is possible to deliver the highest level of customer service in one of the toughest real estate markets on record," said Mary Tennant, president and COO of Keller Williams Realty. “We feel incredibly fortunate to be in business with them, and want to congratulate them on their hard work and dedication."

In the past year, Keller Williams Realty has continued to grow despite the well-publicized turmoil in the real estate industry. In addition to becoming the 3rd largest real estate company in the U.S., surpassing RE/MAX®, Keller Williams Realty was ranked as the No. 1 real estate franchise on the 31st Annual Franchise 500 list by Entrepreneur magazine and was voted the Most Recognizable Brand of Real Estate Franchises and the Trendsetter of the year for 2009 in an industry-wide survey for the Swanepoel TRENDS Report.

Top 10 Home Selling Mistakes That Can Cost You

2010-07-27T10:41:00.003-04:00

Avoid these common slipups to sell your home fast and for top dollar
By Shannon Petrie, FrontDoor.com Published: 8/20/2009

Mistake #10: Waiting until spring to sell
Sure, spring is traditionally the busiest time for real estate sales, but people buy homes 365 days a year. Plus, off-peak season buyers tend to be more serious, and fewer homes on the market means less competition for sellers.

Don't be daunted by the thought of selling during the summer, winter or fall. Instead, draw in buyers by playing up your home's seasonal amenities.

Mistake #9: Not understanding the terms of your real estate contract
Real estate contracts can be complex and confusing, but don't let the fine print scare you. Before accepting a buyer's offer and entering into a formal agreement, review the contract carefully with your real estate agent or attorney.

Understand the buyer's requests and know what your responsibilities are as a seller. Can the home be sold as-is, or do you have to make repairs? What's included in the sale (i.e., appliances, furniture, fixtures)? What contingencies are included?

Mistake #8: Going it alone without researching first
Faced with the prospect of forking over a hefty sales commission, you may find the FSBO route pretty tempting. But remember, selling a home sans real estate agent means dealing with mounds of paperwork, marketing and showings.

Before you sell your home by yourself, do your research to make sure you're up for the task. At the very least, you may want to hire a real estate attorney to look over the details of the deal.

Mistake #7: Ignoring lowball offers
Many home sellers in today's market need a reality check. Just because your neighbor sold for X amount five years ago, things have changed, and you can't expect to get the same amount for your home today.

If you receive an offer you think is too low, repress the impulse to feel insulted and reject the offer completely. Instead, make a counteroffer and see if the buyer is willing to negotiate. You may be able to settle on a price -- and terms -- that you're both satisfied with.

Mistake #6: Wasting time on an unqualified buyer
Today's mortgage borrowers face stricter lending standards, so it's crucial you check out the potential buyer's qualifications. The last thing you want is a buyer whose financing falls through mere days before closing.

Before accepting an offer, make sure the buyer has been pre-approved for a loan, not just pre-qualified. Also, don't compare offers based solely on price: A buyer who is putting 20 percent down is more likely to close than someone scraping in at the 3.5 percent minimum.

TIP: Protect yourself by having a backup offer or two in place. That way, you won't have to put your house back on the market if the first buyer fails to close.

Mistake #5: Skimping on marketing
In the past, an ad in the paper and a sign in the front yard might have led to a successful home sale. But today, you'll need a broader marketing strategy if you want buyers to notice your home.

Ninety percent of today's buyers start their home searches on the Web, so it's important to have an impressive online listing with plenty of high-quality photos and video. The more exposure your home gets, the better, so don't limit yourself when it comes to marketing. Pairing traditional advertising techniques with innovative methods is the most effective strategy.

Mistake #4: Sabotaging the showing
When touring a house for sale, buyers need to be able to focus, evaluate and determine if the home is right for them. The last thing they need is an overeager seller following them around and pointing out new kitchen appliances and recently renovated bathrooms. So give buyers some space!

During an open house or home tour, take a drive or a walk around the neighborhood, or confine yourself to one room if you absolutely have to stay home.

Also, give buyers enough access to see your home. An hour during the week and a Sunday Open House may not accommodate many buyers' schedules. Consider extending your showing hours or using a lockbox so agents can access the house when you're not available.

Mistake #3: Not prepping your home for sale
With the huge inventory of homes on the market, today's homebuyer can afford to be choosy. That means you've got a lot of competition and limited attention, so a clean, uncluttered and updated home is a must.

Depending on your budget and time frame, you'll either want to make simple fixes (repairing things that are broken or giving your walls a fresh coat of paint) or invest in large upgrades (new kitchen counters or new windows).

Once you've made fixes and upgrades, you must clean, clean, clean. Dirty homes get lowball offers or none at all. Staging, the process of de-cluttering and dressing up your home to make it appealing to buyers, is also key.

Before you begin your pre-sale preparation, visit open houses in your neighborhood to get a feel for your competition. This will give you an idea of what improvements will be necessary to put your home in the same league as others in the area.

Mistake #2: Over-improving
It's easy to get caught up in a home improvement project, especially if you think it'll add value to your home. But be careful that you don't over-improve for your house and neighborhood, especially if you expect to recoup your investment.

For instance, if you live in a neighborhood where all the houses have modest kitchens, you won't get your money back at resale if you put in granite countertops and Viking appliances.

In other words, keep up with the Joneses -- not outdo them. Don't try to make your home the most expensive house on the block with major upgrades -- you'll never recoup those expenses. Instead, stick to improvements that put your home on par with other homes in the neighborhood. That way, you bring out the best in your home, without going overboard.

Mistake #1: Overpricing
You obviously want to get the highest possible price for your home, but you won't be doing yourself any favors if you price your home higher than the comps, i.e. the comparable homes in your area with similar square footage, construction, age and condition that sold recently or are currently on the market.

Serious buyers are well-informed and will instantly dismiss your property if they believe it's overpriced. (Hence, all the price reductions in today's market.)

On the other hand, pricing competitively (read: lower than similar homes in your area) will spark lots of interest in your home and could lead to multiple offers -- and, ultimately, a higher sales price.

From FrontDoor.com. View original article: http://www.frontdoor.com/Sell/Top-10-Home-Selling-Mistakes-That-Can-Cost-You/55225/p1

Frugal Tips to Make a Home More Appealing

2010-07-23T12:29:00.001-04:00

Homeowners who want to sell but don’t have a lot of cash to spruce up their properties might consider these tips from Bankrate.com for upgrading a property without spending a fortune.

Polish up the kitchen. Add new cabinet door handles, replace lighting and update the faucet set. Unless the cabinets are mica, give them a fresh coat of paint. Order new doors for kitchen appliances.

Tidy up the bath. Replace the toilet seat. Clean up the floor with vinyl tiles or sheet vinyl applied over the old floor. Re-grout the tub and, if the tub is dingy, add a new prefabricated tub and shower surround.

Paint the walls.

Add closet systems to all the bedrooms, pantry, and entry closets.

Hire a plumber and an electrician to fix anything that is loose or that leaks.

Clean the carpets or, if they are worn, cover them with area rugs.

Replace ceiling lights with inexpensive but attractive fixtures.

Refinish or repaint the front door and replace the hardware.

Mow the lawn, edge the sidewalks, mulch all the beds and put two big planters at either side of the front door.

Source: Bankrate.com (07/14/2010)

View article on Realtor.org.

8 Steps to Buying a Home

2010-07-23T12:03:00.002-04:00

Looking for a new home can be an exciting and challenging experience. Having a real estate professional that takes the time to understand your unique needs and lifestyle is important.

Following this link to visit the Keller Williams 8 Steps to Buying a Home guide.

This Month in Real Estate by KW

2010-07-12T09:52:00.003-04:00

Check out the latest video from Keller Williams Realty International.

Biggest Defaulters on Mortgages Are the Rich

2010-07-10T12:15:00.002-04:00

No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars.
The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper class in privileged enclaves.
Whether it is their residence, a second home or a house bought as an investment, the rich have stopped paying the mortgage at a rate that greatly exceeds the rest of the population.
More than one in seven homeowners with loans in excess of a million dollars are seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.
By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent.
At a vacant house with a pool, where the lender was seeking $1.27 million, a raft and a water gun lay abandoned on the entryway floor.
Lenders are fearful that many of the 11 million or so homeowners who owe more than their house is worth will walk away from them, especially if the real estate market begins to weaken again. The so-called strategic defaults have become a matter of intense debate in recent months.
The CoreLogic data suggest that the rich do not seem to have concerns about the civic good uppermost in their mind, especially when it comes to investment and second homes. Nor do they appear to be particularly worried about being sued by their lender or frozen out of future loans by Fannie Mae, possible consequences of default.
The delinquency rate on investment homes where the original mortgage was more than $1 million is now 23 percent. For cheaper investment homes, it is about 10 percent.
With second homes, the delinquency rate for both types of owners was rising in concert until the stock market crashed in September 2008. That sent the percentage of troubled million-dollar loans spiraling up much faster than the smaller loans.
“Those with high net worth have other resources to lean on if they get in trouble,” said Mr. Khater, the analyst. “If they’re going delinquent faster than anyone else, that tells me they are doing so willingly.”
Willingly, but not necessarily publicly. The rapper Chamillionaire is a plain-talking exception. He recently walked away from a $2 million house he bought in Houston in 2006.
“I just decided to let it go, give it back to the bank,” he told the celebrity gossip TV show “TMZ.” “I just didn’t feel like it was a good investment.”
“They may be less susceptible to the shame and fear-mongering used by the government and the mortgage banking industry to keep underwater homeowners from acting in their financial best interest,” Mr. White said.
The CoreLogic data measures serious delinquencies, which means the borrower has missed at least three payments in a row. At that point, lenders traditionally file a notice of default and the house enters the official foreclosure process.
In the current environment, however, notices of default are down for all types of loans as lenders work with owners in various modification programs. Even so, owners in some of the more expensive neighborhoods in and around San Francisco are beginning to head for the exit, according to data compiled by MDA DataQuick.
The vast majority of owners in these upscale communities are still paying the mortgage, of course. But they appear to be cutting back in other ways. The once-thriving Los Altos downtown is pocked with more than a dozen empty storefronts in a six-block stretch.
But this is still Silicon Valley, where failure can always be considered a prelude to success.
In the middle of a workday, one troubled homeowner here leaned over his laptop at the kitchen table, trying to maneuver his way out from under his debt and figure out the next big thing.
His five-bedroom house, drained of hundreds of thousands of dollars of equity over the last 13 years, is scheduled for auction July 20. Nine months ago, after his latest business (he has had several) failed in what he called “the global meltdown,” the man, a technology entrepreneur, said he quit making his $9,000 monthly payments.
“I’m going to be downsizing,” he said.
The man spoke on the condition of anonymity because, he said, he did not want his current problems to interfere with his coming reinvention. “I’m a businessman,” he explained. “I have to be upbeat.”

By DAVID STEITFELD
Published: July 8, 2010
New York Times

How to Choose a Great Listing Agent

2010-07-09T17:10:00.002-04:00

Ask these 10 questions to find the best professional to sell your property

The world is full of people who sell real estate. Some of them are smart, efficient, focused, versatile and willing to go the extra mile. And some of them aren't.

Finding an agent who will sell your home using a range of marketing tools to get you the best deal possible in a reasonable amount of time, all while charging a fair rate, takes some effort. Interview at least three candidates before you sign a contract.

Here, are 10 questions you really want to ask so you can identify the best real estate agent to sell your property.

1. How much? Ask potential agents how much they think they can sell your home for. If two agents say $275,000 and the third says $325,000, think hard. It's likely the high bid is an exaggeration to attract your business. In the end, you'll be the one who pays because the high price will scare away potential buyers.

2. How will you market it? Running a few classified ads in the local paper, listing it on the Internet and holding an open house shouldn't be the only answers. The practitioner should have an extensive internet reach.

3. How has your business changed in the last five years? If she doesn't talk about website tours and smart phones, chances are this is not a highly wired agent. And you may cut yourself off from opportunities.

4. Tell me how your last two deals surprised you? Every agent has a success story, but this question will give you a much better feel for what this practitioner is like as a salesperson.

5. What's your specialty? If you're selling a starter home in a community full of young families, hiring an agent who specializes in seniors is probably a bad idea. It doesn't mean that if he only sells condos that he can't sell a house, but he may not be geared up to do the best job.

6. How many people are you selling homes for right now and what are you doing for them? It may not be a bad thing that a high-powered agent is juggling 15 homes, but don't expert her to give you personal service, although her assistant should be attentive. On the other hand, be wary of an agent with no other customers because she may lack experience and contacts.

7. What do you expect of me? A good salesperson will have expectations. He may want you to leave and take the dog when the house is shown, paint the garage, move some furniture around and scrub the tile in the bathroom. It shows that he can think like a buyer and that's a good thing.

8. What advice would you have for me if I get an offer from a buyer who wants to use an FHA loan? FHA, VA, State and locally managed loan assistance programs can be key to selling a property. Real estate agents shouldn't be pushing buyers toward their favorite lenders, but they should be able to help them and you wade through complex financing issues.

9. What's your fee? Discount agents offer discount services. Be sure you get what you pay for.

10. Can I talk to one of your previous clients? You never know.

from FrontDoor.com

Mortgage Update

2010-07-08T13:12:00.001-04:00

by Chris Vogler
Bank of America Home Loans

After dropping to the lowest level in decades last week, mortgage rates fell even further this week! Affordability hasn’t been this good for home purchases in decades.

Interest rates are at lows not seen in 50-60 years, and home prices and selection continue to be the best seen in many years. These two things add up to the fact that buying is affordable and in many cases cheaper than renting. However, the supply of homes in the tri-county area seems to be decreasing slightly and the demand is increasing.

This supply and demand function means that the selection and prices of homes won’t last long. Interest rates for a typical mortgage are in the mid to upper 4% range INCREDIBLE; rates can’t and won’t stay this long for too much longer!

Home Buyer Tax Credit Closing Date Extension & Flood Insurance Extension

2010-07-01T13:03:00.002-04:00

From: NAR Government Affairs

After a close brush with the deadline, Congress has passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The legislation is designed to create a seamless extension the new closing deadline for eligible transactions is now September 30, 2010. There is will be no gap between June 30 and the date the President signs the bill into law.

NAR worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the Tax Credit Closing deadline will help provide additional stability to real estate markets across the nation.

For additional information on the extension visit www.realtor.org/government_affairs

Additionally, the United States Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) an extension of the National Flood Insurance Program until September 30, 2010. This will allow transactions to move forward. The bill is retroactive and covers the lapse period from June 1, 2010 to the date of enactment of the extension.

For more information on the flood insurance program visit www.realtor.org/government_affairs

7 tips for picking a real estate agent

2010-06-29T13:34:00.003-04:00

by Dana Dratch
updated 6/22/2010 9:33:34 AM ET

Ever wish you could see through the hype to hire the best real estate agent for buying or selling your home?

When it comes to choosing real estate agents, "we don't have the information that we have about other service professionals," says Stephen Brobeck, executive director of the Consumer Federation of America, in Washington, D.C.

However, there are things you can do to pull back the curtain and accurately assess a real estate agent's past performance and potential success with your home. Whether you're the buyer or the seller, here are seven ways you can find out more about your agent before you hire.

1. Talk with recent clients
Ask agents to provide a list of what they've listed and sold in the last year, with contact information, says Ron Phipps, president-elect of the Chicago-based National Association of Realtors. Before you start calling the names, ask the agent if anyone will be "particularly pleased or particularly disappointed," he says.

With past clients, "I'd like to know what the asking price was and then what the sales price was," says William Poorvu, professor emeritus at Harvard Business School and co-author of "The Real Estate Game: The Intelligent Guide to Decision-making and Investment."

And, if you're the seller, ask if these past properties are similar to yours in price, location and other salient features, Poorvu says. What you want is someone who specializes in exactly what you're selling.

Another good question for sellers is: How long has the home been on the market?

2. Look up the licensing
States will have boards that license and discipline real estate agents in those states, says Phipps. Check with your state's regulatory body to find out if the person is licensed and if there have been any disciplinary actions or complaints.

Some states, including Virginia, Arizona and California, put the information into online databases that consumers can search. "But I think very few people do," says Robert Irwin, author of "Tips & Traps When Buying a Home."

3. Pick a winner
Peer-given awards count, says Phipps. One that really means something is the "Realtor of the Year" designation awarded by the state or local branch of the National Association of Realtors.

"These agents are the best as judged by their peers," he says. "That's a huge endorsement."

4. Select an agent with the right credentials
Just as doctors specialize, so do real estate agents. And even generalists will get additional training in some areas. So that alphabet soup after the name can be an indication that the person has taken additional classes in a certain specialty of real estate sales. Here's what some of the designations mean:

•CRS (Certified Residential Specialist): Completed additional training in handling residential real estate.
•ABR (Accredited Buyer's Representative): Completed additional education in representing buyers in a transaction.
•SRES (Seniors Real Estate Specialist): Completed training aimed at helping buyers and sellers in the 50-plus age range.

If the agent calls himself a Realtor with a capital "R," that means he's a member of the National Association of Realtors. By hiring a Realtor, "the most important thing you get is an agent who formally pledges to support the code of ethics," says Phipps.

Five years ago, one-third of real estate licensees were Realtors, he says. "Now, it's half."

5. Research how long the agent has been in business
You can often find out how long the agent has been selling real estate from the state licensing authority. Or, you can just ask the agent.

"If they haven't been in business five years, they're learning on you and that's not good," says Irwin.

Ultimately, what you're looking for is someone who is actively engaged in a particular area and price range, says Phipps. You'll want to know what knowledge of those two factors they can demonstrate and "what kind of market presence they have," he says.

6. Look at their current listings
Check out an agent's listings online, says Brobeck. Two places to look are the agency's own site and Realtor.com, a website that compiles properties in the Multiple Listing Service into a searchable online database.

Most buyers start their search on the Internet, and you want an agent who uses that tool effectively. "A key thing is an attractive presentation on the Web," says Brobeck.

You also can look at how closely the agent's listings mirror the property you want to buy or sell. Are they in the same area? Is the price range similar? And does the agent have enough listings to indicate a healthy business but not so many that you'd just be a number?

7. Ask about other houses for sale nearby
A good agent should know about other available area properties "off the top of his head," says Irwin, who wrote "Tips & Traps When Buying a Home." Mention a house in your area that's sold recently or is for sale. If the agent knows the property and can give you a few details, that means he or she really knows your area, he says. Says Irwin: "You want someone like that who's on top of the market."

© 2010 Bankrate.com
View the original article here: http://www.msnbc.msn.com/id/36786169/ns/business-real_estate/

Top 9 Green Home Improvements

2010-06-03T17:31:00.002-04:00

RISMEDIA, April 29, 2010—HomeGain, a leading website that connects real estate agents with home buyers and sellers recently announced the results of its Green home improvement survey.
Receiving responses from nearly 1,000 real estate agents and brokers nationwide, HomeGain configured a list of the top nine do-it-yourself (DIY) Green home improvements that cost under $300 and that benefit sellers most when they sell their homes.

The top nine Green home improvements that real estate professionals recommend to home sellers based on cost and return on investment to the sellers include:

1. Plant trees and shrubs
2. Replace air filters
3. Green home staging
4. Weather strip and caulk doors and windows
5. Install programmable thermostats
6. Install low flow shower heads
7. Use auto turn-off power strips
8. Install CFL or LED lights
9. Paint with low VOC paint

Planting native trees and plants in the perimeter of a home for sale ranks as the top suggested green home improvement, recommended by 65% of agents and brokers, costing under $150 and returning a value of nearly $400 to a home’s selling price, which is a 284% return (ROI).

“Our survey shows that going green is not only good for the environment, but makes dollars and cents for home sellers,” stated Louis Cammarosano, General Manager at HomeGain. “Buyers want energy efficient homes and appreciate the aesthetics of natural vegetation and are willing to pay for these features.”

Real estate professional are taking note of the growing interest in green real estate practices. Eco-broker certified Realtor and HomeGain member Jeffrey Bastress of Startpoint Realty in Massachusetts commented: “We have been advocates of green real estate and green issues for many years now. We use virtual office websites to communicate with customers and a transaction platform to post all documents. For closing gifts, we give trees to our buyers and donate trees in the name of our sellers. Our website is a green resource for buyers and sellers, and I advise my agents on how to green their websites and better consult with their clients.”

For more information, visit http://www.homegain.com/.

New Listing! - 110 East Duffy Street

2010-05-04T11:25:00.002-04:00

New construction free standing townhouse built with respect for the turn of the century structures that surround it, in a manner appreciated by historic enthusiasts. The quality and attention to detail is apparent in the craftsmanship and products used throughout this property. The typical side hall home offers a modern nod with it's open double parlors, tall ceilings and deep moldings. The kitchen is outfitted with hand crafted cabinets, stainless steel appliances and finished with granite counters. Rear porch and courtyard garden offer privacy and a relaxed setting. Above the garage is a luxurious one bedroom apartment or guest suite. The main house has a spacious master suite with bay front window sitting area, two additional bedrooms and one and a half baths. Located just one block to Forsyth Park and priced reasonably. Offered at $425,000.

To view a visual tour of the property please click the image. For additional information about this home or other real estate in Savannah, please visit DonCallahan.com

Top Ranked Franchisee Joins Keller Williams Realty

2010-04-19T10:42:00.002-04:00

News Release
FOR IMMEDIATE RELEASE

Top Ranked Franchisee Joins Keller Williams Realty
Joe Rothchild to lead Keller Williams Signature in Houston, Texas

AUSTIN, TEXAS (April 12, 2010) — Keller Williams® Realty Inc. announced today that Joe Rothchild, formerly a top ranked Re/Max franchisee and the leader of Houston’s #1 selling real estate team in dollar volume and number of closed transactions in 2009 (Houston Business Journal, March 2010), is now at the helm of the Keller Williams Signature office in Houston, Texas. The Joe Rothchild Team closed 779 transactions for $155 million in volume last year.

“Keller Williams Realty has shown that their model can adapt to any market, which was one of the driving forces in my decision,” said Rothchild, who has left Re/Max after 20 years as a franchisee. “I have been researching and contemplating for more than two years, and I discovered that I needed to reinvent my business to revitalize it. We were implementing some of the same philosophies and mirroring the Keller Williams system, so finally, one day we said…why reinvent the wheel? And, the answer was clear.”

Rothchild added, “KW’s philosophy of putting agents and ownership on the same side of the table and training on the most critical issues facing us in today’s market were also incredibly important to us.”

“We are thrilled to be in business with a talent like Joe. For the last 15 years, Joe has been one of the top 10 teams in Re/Max, and was number one worldwide for three years in a row! When a top franchisee from one of our competitors chooses to join us, we consider it a true honor and confirmation that we have unbelievable momentum behind our growth,” said Mark Willis, CEO of Keller Williams Realty.

Many of Rothchild’s current associates will be joining him at the Keller Williams Signature office. Among them, Dale Ross, an industry veteran with 29-years of experience under his belt, 25 of which have been with Re/Max. “When I factored in the Keller Williams Realty systems, training and support, and realized it was the place I needed to be,” said Ross.

This announcement comes on the heels of a year of positive growth for Keller Williams Realty throughout the U.S. and Canada. The company outpaced the downward trend in the real estate market and grew in every category – opening 30 new franchises, ending the year with a 16 percent year-over-year increase in the number of contracts closed per agent and more than 76,879 associates across North America (up three percent). In addition, the company gave back more than $32.2 million in profit share to its agents.

In addition to recently becoming the 3rd largest real estate company in the U.S., surpassing Re/Max, according to Steve Murray at REAL Trends, Keller Williams Realty received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms from J.D. Power and Associates for the second year in a row, and was ranked as the No. 1 real estate franchise on the 31st Annual Franchise 500 list by Entrepreneur magazine.

---
About Keller Williams Realty, Inc.:
Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 677 offices and more than 77,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information, or to search for homes for sale visit Keller Williams Realty online at (www.kw.com).

7 Home Maintenance Tips for Spring

2010-04-14T11:30:00.002-04:00

Wake your home from winter hibernation

Paul Bianchina
Inman News

It's starting to warm up a bit and your home is coming out of its winter hibernation. Winter plays havoc on houses, and spring should be a time to toss on some shorts and take a walk around your house to get that spring chore list in order. Here are few additional areas to pay attention to:

Decks

Wood decks can take a real beating during the winter. Make a slow and thorough examination of deck boards, railings, posts, stairs and other structural members. Look for loose fasteners, cracks, dry rot, or other damage. Tighten or replace the bolts that hold the railings in place to ensure a sturdy railing system. Remove loose nails from decking boards -- hammering them back in won't do any good -- and replace them with weather-resistant decking screws that are made for that purpose. Use a screw that's longer than the original nail.

Sprinklers

Permanent, in-ground sprinklers are great, as long as they're properly adjusted. Run each set of sprinklers through a cycle, and watch how and where the water is hitting. Adjust or replace any sprinklers that are hitting your siding, washing out loose soil areas, spraying over foundation vents, or in any other way wetting areas on and around your house that shouldn't be getting wet.
Fans and air conditioners

Spring is a great time to check all of your exhaust fans, cooling fans and air conditioners. Check dampers for smooth operation. Remove interior fan covers, and wash in mild soapy water. Clean dust and debris from inside the fan unit using a shop vacuum -- do not operate the fan with the cover removed.

Check the roof or wall caps where the fan ducts terminate to make sure they are undamaged and well sealed. Check the dryer vent hose and cap for damage or loose connections, and clean out lint buildup. Check outdoor central-air-conditioning units for damage or debris buildup. Clean and check window or wall air conditioners, especially the filters.

Vent blocks and outdoor faucets

As soon as you're comfortable that the danger of winter freezing is over, remove foundation vent blocks or open vent covers to allow air circulation in the crawlspace. While removing the vent covers, check the grade level around the foundation vents. Winter weather can move soil and create buildups or grade problems that will allow ground water to drain through the vents into the crawlspace, so re-grade as necessary. Remove outdoor faucet covers. Turn on the water supply to outdoor faucets if it's been shut off.

Fences and gates

Fence posts are especially susceptible to ground water saturation, and will loosen up and tilt if the soil around them gets soaked too deeply. Check fence posts in various areas by wiggling them to see how solidly embedded they are. If any are loose, wait until the surrounding soil has dried out from winter's rains, then excavate around the bottom of the posts and pour additional concrete to stabilize them.

House numbers

Can someone find your house easily, especially in the dark? Spring is a great time to check that your house numbers are clearly visible from the street, that they are painted a contrasting color from whatever surface they are mounted on, that they are somehow hit by exterior lighting at night, and that they are not obscured by overgrown foliage.

Smoke detectors

As always when it's time to change the clocks, you want to check your smoke detectors. Replace the batteries, clean the covers, and test the detector's operation before it's too late. If you have gas-fired appliances in the house, including a water heater, now is also a great time to consider adding a carbon monoxide detector. Carbon monoxide detectors are inexpensive and easy to install, and are available at most home centers and other retailers of electrical parts and supplies.

***
From InmanNews.com

New Listing - 525 East Anderson Street

2010-04-13T11:32:00.002-04:00

Charming Victorian home with double parlors separated by pocket doors. New kitchen with quality cabinets, granite counters, stainless steel appliances. Tall ceilings, wood floors, and plaster walls. Deep front porch. Small shady rear porch. Landscaped garden.

Click on the photo for a visual tour of the property. For more information on this home or other real estate in Savannah, Georgia please visit DonCallahan.com.

New Listing! - 525 East Victory Drive

2010-04-13T11:29:00.002-04:00

Classic and Stately home situated on beautiful Victory Drive. Constructed with top quality material in 1950 with over 3000 square feet. The center hall is impressive and flanked by a generous living room and dining room each with crown moldings and wood floors.There is also a comfortable panelled library/study, a bright sun-room and large kitchen. There are four bedrooms and two full baths in the home.The rear garden is fenced and has mature landscaping. This home offers off street parking from both the front and lane with a two car garage.

Click on the photo for a visual tour of the property. For additional information on this home or other real estate in Savannah, Georgia please visit DonCallahan.com.

New Listing! - 19 East 63rd Street

2010-04-13T11:25:00.002-04:00

Architecturally outstanding Savannah Grey Brick home in a delightful midtown neighborhood. The dramatic floor plan features a large living room with a fireplace, vaulted ceiling and a loft overlook. Herring-bone oak wood floors connect this room to the adjacent spacious dining room. Any homeowner would appreciate the well planned deluxe eat-in kitchen with granite counters, slate floors and high end appliances such as an Imperial gas range. The rear sun-room overlooks a large patio with outdoor kitchen and well landscaped garden. The detached office and work studio provide added value to this special property.

4 Bedrooms - 2 Bathrooms - built in 1951 - 2700 square feet - lot 75'X150' - off street parking

Click on the photo for a visual tour of the property. For additional information on this property or other real estate in Savannah, Georgia please visit DonCallahan.com.

New Listing - 403 East Hull Street

2010-03-26T15:57:00.003-04:00

This handsome well planned townhouse is located in Crawford Ward of the Landmark Historic District. Constructed of top quality materials in 2006 with swift attention to style and finishes of its surrounding historic properties. The ground floor has a gracious and open living room, and dining room with French doors onto the courtyard garden. The kitchen is well appointed with granite counter-tops, tall cabinets and stainless steel appliances. There are three spacious bedrooms and 2.5 nicely appointed bathrooms including a master bath with jetted tub and separate shower. If location, quality and charm are what attracts you to the Landmark Historic District, finally it's priced with-in reach.

For more information on this property and other real estate in Savannah, GA please visit DonCallahan.com.

Click on the photo for a visual tour of the property.

Just Listed! - 39 Bull River Bluff Drive

2010-03-26T15:53:00.003-04:00

Located in the desirable Bull River Bluff community, this condo is crisp and clean through-out. The convenient ground floor location offers a peaceful setting at the front porch and a rear enclosed patio opening onto a grassy knoll overlooking the marsh. Upon entering the unit, the warm wood floors create an outstanding setting. The kitchen is fully equipped and opens onto the dining area. There are two generous bedrooms and two full bathrooms.

For additional information on this property and real estate in Savannah, GA please visit DonCallahan.com.

Click on the image for a visual tour of the property.

Savannah Music Festival

2010-03-18T17:16:00.002-04:00

The Savannah Music Festival (SMF) begins today and will continue through April 3, 2010. The festival "is Georgia's largest musical arts festival and one of the most distinctive cross-genre music festivals in the world. SMF is building a robust history on its devotion to living, vibrant musical traditions, regularly presenting commissioned works, unique and imaginative productions and rare regional appearances by renowned artists in jazz, classical, blues, bluegrass, gospel and other styles of American and international roots music."

For more information on the festival, calendar of events, and lineup, please visit www.SavannahMusicFestival.org. Maybe we'll see you there!

Just Listed! - 533 East Taylor Street

2010-03-11T13:15:00.004-05:00

Outstanding Victorian residence with two units, each has three bedrooms, one bath, large equipped kitchen, separate living room, dining room and bonus room. Currently used as executive / vacational rental with great success! House is in perfect order. Great courtyard garden.

For additional information please visit our website at http://www.doncallahan.com/.

Just Listed! - 413 Tattnall Street

2010-03-11T13:14:00.003-05:00

Constructed in 1998 by The Wells Foundation with accuracy and respect to historic elements through-out. The home is situated at the foot of gorgeous Jones Street and is a typical side hall townhouse. The tall ceilings are finished with crown moldings and the floors are wide plank heart of pine wood. The modern construction allowed the builder to add an open kitchen, adjacent to a breakfast room that overlooks the rear deck and garden. There is elevator access to all floors and each bedroom is generous and offers it's own full bath. Location, historic elements, modern convienences and top quality finishes make this property a special home being offered at a reasonable price.

For more information, please visit our website at www.DonCallahan.com.

SOLD! - 521 E. 37th Street

2010-02-12T16:12:00.003-05:00

Renovated workhorse.

To view more listings please visit our website at www.DonCallahan.com.

New Listing! - 24 East 41st Street

2010-02-11T12:13:00.003-05:00

Outstanding Victorian townhouse in the center of the Starland Art District. Classic side hall Victorian home with entrance foyer adjacent to front parlor/living room separated by pocket doors to the dining room each finished with a fireplace. The bright and new kitchen is fully equipped and opens to a breakfast area. Upstairs there are three bedrooms and two full baths. With all new systems and finishes this house is a fantastic blend for the preservationist that wants care free living. Walk to the café down the block or the popular dog park located immediately across the street.

For more details please visit our website at http://www.doncallahan.com/.

DonCallahan.com Featured by AgentImage

2010-02-01T11:20:00.009-05:00

We are so cutting edge our creators are celebrating our successes! Check out the newsletter from AgentImage (the people who helped us design our website) featuring DonCallahan.com as one of the February 2010 Featured Websites.

Visit our website to see it in person!

"10 Tips for Settling Into Your New Home"

2010-01-29T11:22:00.001-05:00

10 Tips for Settling Into Your New Home
By Shannon Petrie, FrontDoor.com Published: 11/17/2009

Shortly after buying a new home, you may feel too overwhelmed with moving boxes and bubble wrap to focus on anything other than getting your stuff from point A to point B. Besides ensuring a smooth moving process, there are several other things you need to take care of as you're getting settled into your home. While you're unpacking, make sure you handle these post-purchase musts:

1. Fill out a change of address form. Visit the local post office or go to the United States Postal Service website to complete an official change of address form. For banks and financial companies, contact them directly to let them know you've moved.

2. Transfer your utilities and services. Change electricity, gas, water, cable, phone and Internet to your new address. Most utilities let you sign up for service or change your existing service online, or you can use websites that let you hook up all of your utilities online, such as WhiteFence.com.

3. Secure your home. The previous homeowner's friends and family could have copies of your home's keys, so call a locksmith and have all the outside door locks changed. Also, change the garage door opener codes.

4. Check safety features. Make sure the home's smoke and carbon monoxide detectors have batteries, check the expiration dates on fire extinguishers and make sure all safety devices are in working order.

5. Get to know your home. Find the home's main circuit breaker and make sure it's clearly labeled so you know which breaker turns off which area. Also, find the home's water shutoffs.

6. Map out the area. Take a drive or a walk around the neighborhood to find the nearest grocery store, gas station, bank, hospital and post office.

7. Make it your own. Create a vision for how you'd like to turn your new house into your home. You can start by making simple repairs, painting and adding decorative accessories. Read 5 Fast Ways to Make Your New House a Home for ideas. Also, get a basic set of tools and stock up on cleaning supplies.

8. Review HOA rules. We hope you already did this before you bought your home, but it never hurts to refresh your memory. Homeowners associations often have very strict rules on what changes you can and cannot make to your property, so brush up on them to avoid fines. If your community provides trash or recycling pickup, learn the schedule for these services.

9. Meet the neighbors. Your neighbors can keep an eye on your home when you're away, so introduce yourself to establish a good rapport.

10. Relax. You've survived the home-buying process, so the hardest part is over. Store your closing documents in a safe place. Take a deep breath, and enjoy the feeling of being a new homeowner!

From www.FrontDoor.com

SOLD! - 518 East 41st Street

2010-01-28T15:41:00.003-05:00

SOLD! 518 East 41st Street

Stately mission style home on the best block in Baldwin Park.

To view more listings, please visit our website at http://www.doncallahan.com/.

Savannah Book Festival | Feb. 5-7, 2010

2010-01-11T17:48:00.003-05:00

Set in and around moss-draped Telfair Square in historic Savannah, Georgia, the Savannah Book Festival, which will take place February 5-7, 2010, is an annual, free and open to the public celebration of the written word and its role in improving the human experience. Our mission is to promote, reading, writing and civil conversation. For each of the past two years, the Festival has attracted dozens of popular and critically acclaimed authors and thousands of readers from all over America to Savannah’s Telfair Square and the culturally significant buildings that surround it—Telfair Academy, Trinity Church and Jepson Center for the Arts. Within this beautiful venue, the Festival’s authors and their readers experience the intimacy and hospitality for which Savannah is famous.

For more information on the Savannah Book Festival please visit their website at http://www.savannahbookfestival.org/. Hope to see you there!

Just Listed! - 530 Maupas Avenue

2009-12-30T15:46:00.002-05:00

Charming Baldwin Park home with four porches, separate living room and dining room, four fireplaces, wood floors and impressive entry. The home is situated on a fantastic block and has awesome gardens. The summer kitchen in the rear garden can be used as a workshop or studio.

For additional information on this property or any of our other listings please visit our website at http://www.doncallahan.com/.

Click on the image for a visual tour of the home.

"Real Estate Outlook: Signs of Rebound"

2009-12-10T14:13:00.004-05:00

by Kenneth R. Harney

Unemployment and foreclosures continue to be huge weights holding back the economy, but housing's performance is just the opposite: Its signs of rebound keep getting stronger and stronger.

Take a look at this week's numbers: Pending home sales rose again for the ninth straight month, up by nearly 4 percent.

Dr. Lawrence Yun, chief economist for the National Association of Realtors, says the combination of tax credits, affordable prices and rock-bottom mortgage rates are “helping unleash a pent-up demand” from tens of thousands of financially-qualified renters and other buyers who'd been glued to the sidelines for months or even years.

Pending sale, where contracts have been signed but closings have not yet occurred, are a key indicator of where we're headed in housing over the coming several months.

The Northeast region led the country this time around -- up by an exceptional 20 percent for the month. In the Midwest, pending sales jumped nearly 12 percent, while in the South they were up by 5 percent.

Only the Western region saw a decline -- a sizable one at 11 percent.

Yun said the strong sales outlook in most parts of the country is beginning to make a real dent in unsold inventories -- now around a seven month supply -- and that sometime in the first half of next year, the housing market should reach a “self-sustaining” point where prices are moving up moderately and demand is strong.

Meanwhile, sales of newly constructed houses nationwide jumped by 6.2 percent in the latest monthly survey by HUD and the Census Bureau. The rate of total sales is now 31 percent higher than it was in January.

Mortgage rates continue to make both new and resale home purchases easier: Thirty year fixed rates declined to just below 4.8 percent on average last week, according to the Mortgage Bankers Association.

Fifteen year rates dropped below 4.3 percent, which is the lowest recorded by the MBA since it began its national rate survey in 1970.

There was even a hint of better news coming on the employment front last week. The consulting firm of Challenger, Gray & Christmas reported that layoffs by employers dropped sharply in November to about 50,000, down from 182,000 in November of 2008.

That's obviously still a lot of people losing jobs, and the unemployment rate is still stuck in double digits, but even the smallest hints of stabilization on jobs could prove to be hugely important for housing and real estate.

Published: December 8, 2009
www.realtytimes.com

NEW LISTING - 1519 Spalding Road

2009-12-08T17:01:00.004-05:00

Mid-Century Modern ranch with spacious rooms, swank maple cabinets in the kitchen with granite counters and stainless steel appliances, living room / dining room combo with fireplace. Many rooms open out onto deck and large shady fenced yard. Four bedrooms, two baths, and approximately 2,275 square feet.

For additional information on this listing or other real estate in Savannah, Georgia please visit DonCallahan.com. Click on the image to view a visual tour of the home.

A Tour of Historic Homes - Sunday Nov. 1st from 2-5pm

2009-10-30T11:13:00.004-04:00

This Sunday November 1st from 2-5pm I will be participating in a multi-broker open house in Savannah's Downtown Historic District. This is a rare opportunity to view 26 select homes through the Historic District. You can pick up your brochure at the Keller Williams Realty office at 48 Abercorn Street (corner of Abercorn and Broughton) or view the list of open houses below. Just look for the balloons!

1. 23 Houston Street - $950,000 - 3BR/2.5BA

2. 527 E. Broughton Street - $597,000 - Townhome

3. 204 W. Broughton Street - $349,000 - 2BR

4. 411 W. Congress Street, #1 - $275,000 - 2BR/1.5BA

5. 316 E. State Street - Starting at $765,000 - Condos

6. 135 Lincoln Street - $389,000 - 2BR/2.5BA

7. 126 E. Oglethorpe Avenue - $1,175,000 - 1895 Inn

8. 425 E. McDonough Street - $389,900 - 2BR Condo

9. 312 E. Liberty Street, Unit C - $399,000 - 2BR/2BA

10. 107 W. Perry Street, Unit C - $299,000 - 1BR/1BA

11. 201 W. Liberty Street, Unit 101 - $199,900 - 1BR

12. 22 W. Harris Street - $1,295,000 - 5BR Townhome

13. 407 E. Charlton Street - $890,000 - 4BR/3.5BA

14. 349 E. Broad Street - $298,000 - 2BR/2BA

15. 554 E. Jones Street - $319,000 - 2BR Cottage

16. 212 E. Jones Street - $389,000 - 2BR/2BA Condo

17. 214 W. Jones Street - $759,000 - 4BR/2BA

18. 301 W. Taylor Street - $799,000 - Townhome

19. 540 E. Gordon Street - $312,500 - Townhome

20. 415 E. Huntingdon Street - $418,000 - 3BR/1.5BA

21. 408 E. Hall Street - $399,000 - 2BR/2BA with pond

22. 402 E. Hall Street - $1,750,000 - Historic Estate

23. 612 Barnard Street - $985,000 - Up to 6BR/4.5BA

24. 703 Whitaker Street - $1,095,000 - 4BR/4BA

25. 911 Whitaker Street - $1,475,000 - Mansion

26. 202 E. Park Avenue - $274,900 - 2BR/1BA

Just Listed! - 601 East 57th Street

2009-10-29T15:40:00.005-04:00

Classic Ardsley style bungalow constructed in 1941 and tastefully restored in recent years. Entertain gracefully with a generous dining room adjacent to the living room set around a fireplace. There is a fully equipped eat-in kitchen and a sunroom. Master and guest suites are situated on the first floor with two additional bedrooms and a bath on the second floor. The tremendous rear deck has a retractable awning for shad or afternoon BBQ's and overlooks a well landscaped yard. All this set on an attractive corner with garage and off street parking. Click on the image to view a visual tour of the home.

For additional information on this property or any other of my listings please visit my website at http://www.doncallahan.com/.

The Squares of Savannah Named One of The "Great Places in America: Public Spaces"

2009-10-23T11:05:00.003-04:00

The original four squares of Savannah date to 1733 and were a distinctive part of James Oglethorpe's plan for the city. Eventually squares were located in the center of each of the city's 24 neighborhoods or "wards." The foresight of Oglethorpe's design continues to provide an extraordinary example of how public space provides a timeless and lasting amenity to a community. Very much used and beloved, the squares are essentially public "living rooms" where residents and visitors alike go for morning and evening strolls, afternoon games and activities, and special events and celebrations.

Savannah's 22 squares are located across a one-square-mile area of downtown. Each square is typically 200 feet north to south and 100 to 300 feet east to west.

Twenty-one of the 24 original squares, all located within the boundaries of the city's National Landmark Historic District, exist largely the way they did when originally built during the 18th and 19th centuries. Each square has its own identity, reflecting a sense of place that mirrors the character of its neighborhood and surroundings. The 22nd square, Ellis, is being rebuilt after having been used for the site of a parking garage.

The squares help calm traffic, making the pedestrian and bicyclist experience in Savannah safer and more enjoyable.

Three Centuries of Planning

- In 1733 James Oglethorpe, Trustee of Georgia on behalf of the British Parliament, founded Savannah and personally laid out the first six squares (initially four followed by two more) in order to create a classless agrarian society

- City officials recognized the value of the grid-with-centered-squares design; in 1796 nine additional squares were included to accommodate city growth; the pattern continued until the 24th square was set aside in 1856

- In 1935, three squares were destroyed to make way for U.S. Hwy 17; one of the lost squares, Franklin Square was rebuilt in 1985

- Georgia's state legislature established the Savannah-Chatham County Historic Site and Monument Commission in 1949 to oversee the restoration of monuments and public art in the squares and the building of new ones; commission remains active, recommending to city council new monuments and public art for squares

- Engaged citizens help draft Downtown Master Plan now under final review; one principle entails retaining elements of Oglethorpe Plan in order to promote the squares' quality public space and amenities throughout downtown

Defines Savannah Town Plan

- Downtown Savannah comprises seven-acre wards or neighborhoods, each centered around a square with four trust lots and eight larger tithing blocks; trust lots typically contain a civic institution such as a church or government building, tithing lots generally contain residential with offices, small retail shops, and inns interspersed

- For approximately 100 years, Ellis Square was home to four public markets and a social gathering place; between 1954 and 2004 the city leased the Ellis Square property as a multi-story parking garage; parking garage has been removed and the square is now being rebuilt as a public space (completion expected by December 2009)

Iconic Community Space

- Most squares contain at least one feature in the center, such as a monument, statue, fountain, obelisk, gazebo, public art

- All squares contain benches, period lighting, brick sidewalks, and shade trees; extensive landscaping and vibrant colors from flowers including azaleas, camellias, and seasonal blooms
- Approximately 15,000 people use the squares each day

- Squares used for private and public events, including the St. Patrick's Day Parade, summer concerts, and private events including weddings and receptions

Promotes Walkability

- Squares located at intersections of two streets, thus calming traffic and making the pedestrian environment safer and more pleasant

- Walkways through squares connect to various close-by destinations in neighborhoods and downtown

- Monuments, other architectural details make squares interesting and engaging places to walk and experience

(From the American Planning Association)

"Bull Street in Savannah Designated One of 10 Great Streets in America"

2009-10-23T11:02:00.001-04:00

October 2, 2007
SAVANNAH, GA — The American Planning Association (APA) announced today that Bull Street in Savannah, Georgia, has been designated one of 10 Great Streets for 2007 through APA's Great Places in America program. APA Great Places exemplify exceptional character and highlight the role planners and planning play in creating communities of lasting value.

APA has singled out Bull Street as one of this year's 10 Great Streets in America for the historic architecture and craftsmanship, diversity of uses, and integration of a variety of transportation alternatives — as well as the commitment of Savannah to preserve the street's legacy.

"We're honored that the American Planning Association has recognized Bull Street," said Mayor Otis Johnson. "Savannah is preparing to celebrate its 275th anniversary, and Bull Street exemplifies the rich history of our magnificent city," he said.

APA Great Places offer better choices for where and how people work and live. They are enjoyable, safe, and desirable. They are places where people want to be — not only to visit, but to live and work there everyday. America's truly great neighborhoods are defined by many unique criteria, including architectural features, accessibility, functionality, and community involvement. Through Great Places in America APA recognizes the unique and authentic attributes of essential building blocks of great communities — streets, neighborhoods, and public spaces.

"We're excited to select Bull Street as one of this year's Great Streets," said APA Executive Director Paul Farmer, FAICP. "Bull Street retains its 19th century grace and charm as it meets the challenges and needs of today's users. That helps make Bull Street unique and worthy of this recognition," he said.

The portion of Bull Street nominated for this honor extends from City Hall to Forsyth Park. Most distinctive are the five public squares located along the street — two of which were included in the original plan for Savannah created by General James Edward Oglethorpe. In his unusual orthogonal plan, streets and building lots are arranged around a central open space. The repetitive street grid connects one neighborhood to another and one public square to the next.

The squares are adorned with monuments commemorating citizens and events that have contributed to Savannah's history. Bull Street's Chippewa Square, for instance, was laid out in 1815 and named for a battle in the War of 1812. The square, featured in the movie "Forrest Gump," hosts a bronze and marble monument to General Oglethorpe who founded Savannah and the colony of Georgia.

Chippewa Square, like the rest of Bull Street, features a range of architectural styles, from the classical First Baptist Church to the Greek Revival Moses Eastman house designed by Charles Cluskey. Other architectural styles found along Bull Street include examples of Gothic, Italianate, and Second Empire dispersed among early 20th century buildings. Such diversity gives the feeling that the street has evolved over time.

Zoned for mixed use, Bull Street is home to churches, government buildings, residences, offices, shops, and cafes. Granite curbs, brick sidewalks, benches, and mature trees line the street and further enhance its character to make it one of the best walking streets in town. A nearby parking garage offers users a free shuttle into the downtown core; however, many choose to walk along Bull Street to enjoy its ambience.

As Savannah looks to its future, the city has put in place height and design standards to help ensure that new infill development along Bull Street is compatible with existing buildings. As part of the Downtown Master Plan process, these standards are undergoing further refinement. Underground parking and environmentally sound practices, such as green roofs, will be encouraged.

The nine other APA Great Streets are Canyon Road, Santa Fe, New Mexico; Delmar Loop, University City and St. Louis, Missouri; Main Street, Northampton, Massachusetts; Monument Avenue, Richmond, Virgina; North Michigan Avenue, Chicago, Illinois; Ocean Drive, Miami Beach, Florida; 125th Street Harlem, New York City; South Temple Street, Salt Lake City, Utah; and St. Charles Avenue, New Orleans, Louisiana.
(From the American Planning Association)

Increase Your Home's Value - Home Improvements Under $100

2009-10-21T12:53:00.001-04:00

Tip 1: Spend an hour with a pro.

Invite a Realtor or interior designer over to check out your home. Many Realtors will do this as a courtesy, but you will probably have to pay a consultation fee to a designer. Check with several designers in your area -- a standard hourly fee is normally less than $100.

In an hour, a professional can give you lots of ideas for needed improvements. Even small suggestions, such as paint colors or furniture placement, can go a long way toward improving the look and feel of your home.

Tip 2: Find inspiration.

Want an even cheaper alternative to a professional consultation? Search for remodeling and decorating inspiration in design-oriented magazines, books, TV shows and Web sites. Simply tear out or print off the ideas you want to try and start your to-do list. Keep it simple: when remodeling on a tight budget, do-it-yourself type projects are best.

Tip 3: Inspect it!

Not every home improvement is cosmetic. Hidden problems like deteriorating roofs, termite infestation or outdated electrical systems can negatively impact your home's value. Hire an inspector to check out the areas of your home that you don't normally see. Small problems, like a hidden water leak, can become expensive headaches if you put off repairs. A little investment now can save you loads of cash later.

Tip 4: Paint, paint, paint.

One of the simplest, most cost-effective improvements of all is a fresh coat of paint. Newly painted rooms look clean and updated -- and that spells value. Neutral paint colors appeal to the greatest number of people, therefore making your home more desirable. On average, a gallon of paint costs around $25, leaving you plenty of money to buy rollers, tape, drop cloths and brushes. So, buy a few gallons and get busy!

Tip 5: Cut energy costs.

If you think your utility bill is a fixed amount, call your local utility company to find out. Many energy providers offer free energy audits of their customers' homes. They can show you how to maximize the energy efficiency of your home. A power- and water-saving home will conserve your money now, and is more valuable in the long run. Plus, you can use the money you save for more updates!
(From FrontDoor.com)

New Listing - 118 Brandywine Road

2009-10-19T17:43:00.003-04:00

Classic brick ranch with quality finishes including wood floors, marble surround on the fireplace, crown and chair molding and original baths. The kitchen features granite counters and a breakfast area. Detached studio/office, walled garden and off street parking.

For more information on this listing or any other listings visit my website at DonCallahan.com. Click here to view a visual tour of the property.

Mortgage Applications Jump

2009-10-15T16:30:00.001-04:00

Industry group says mortgage activity surged 16.4% last week as consumers took advantage of low interest rates.

By Ben Rooney, CNNMoney.com staff reporter
Last Updated: October 7, 2009: 10:34 AM ET

NEW YORK (CNNMoney.com) -- Mortgage applications surged last week as interest rates on home loans remained low, an industry group said Wednesday.

The Mortgage Bankers Association said its index of mortgage application volume rose 16.4% last week versus the previous week.

The surge in activity came as rates on 30-year fixed rate mortgages, the most widely used loan, remained below 5% for the third week in a row.

The average interest rate for 30-year fixed-rate mortgages fell to 4.89% last week from 4.94% the week before, according to the MBA. It was the lowest level since May 2009 when 30-year rates were 4.81%.

The MBA said refinancing applications jumped 18.2%, climbing to the highest level since mid-May. Purchase applications rose 13.2% to reach the highest level since January.

The report bodes well for the U.S. housing market, which has been stabilizing following a major slump. In addition to low interest rates, home sales have been supported by affordable prices and government tax credits.

But analysts say the market remains hampered by rising unemployment and warn that the budding recovery could falter if a popular $8,000 tax credit is allowed to expire at the end of the year.

Meanwhile, the average rate for 15-year fixed-rate mortgages eased to 4.32%, the lowest rate ever recorded in the survey.

Rates for one-year adjustable rate mortgages, or ARMs, rose to 6.56%.

First Published: October 7, 2009: 9:58 AM ET

New Listing! - 310 East 53rd Street | Beautiful Craftsman Bungalow

2009-10-13T11:51:00.003-04:00

Outstanding brick craftsman style cottage on a great block in one of the best neighborhoods. This bungalow was built in 1930 with 1,627 square feet. It has a separate living room. dining room, a beautiful kitchen with SileStone counters, a breakfast bar and generous cabinetry. There are two bedrooms with a charming bath on the main level and a tremendous bonus room or fourth bedroom. The master suite is upstairs with another fantastic bathroom, as well as a comfortable sitting room. The rear garden is a place to entertain or simply sit and enjoy coffee or cocktails. There is a detached artist studio with a water closet and kitchenette for entertaining. This is a special property at a reasonable price.

For more information on this property please visit my website.

New Listing - 512 E. Bolton Street

2009-10-07T14:23:00.002-04:00

Handsome fully restored Victorian Townhouse built in 1900 and recently fully restored. Outstanding kitchen with Granite counters, stainless appliances and well crafted cabinets. There are 2 fireplaces, tall ceilings, and original heart pine wood flooring that are rich and warm. Graced with a deep front porch, a generous rear garden and off street parking.

Please visit my website for more information on this property or click here to view a visual tour.

New Listing - 402 East Hall Street | The Elizabeth Thompson House c.1885

2009-10-07T14:11:00.004-04:00

The Elizabeth Thompson House circa 1885. A handsome and prominent residence in the Landmark Historic District with tremendous ceiling heights, spacious rooms and natural wood trim throughout. The main house is currently two units, each with three bedrooms and two baths, double parlors for entertaining and a side porch overlooking the garden. The lane side of the property has an adorable cottage that has four fireplaces, wood floors, private sun-room and a shady front porch. For added income there is a a duplex with well equipped rental units over a four car garage. This is a very unique property and has zoning that would allow for an office or Bed and breakfast to operate here. This is a rare opportunity to own a spectacular property in Savannah's acclaimed downtown Historic District.

Please visit my website for more details on the property or click here to view a visual tour.

Location, Location, Location

2009-10-02T11:47:00.003-04:00

What Does Location, Location, Location Mean?
by Elizabeth Weintraub, About.com

It's like the real estate agents' mantra: location, location, location. You've certainly heard the phrase enough and may wonder what possesses agents to say it three times. Or you might think it pertains to three different types of locations -- perhaps an excellent location, a mediocre location and a lousy location.

I'll put your mind at ease. It means identical homes can increase or decrease in value due to location. It's repeated three times for emphasis, and so you will remember the phrase. It's the number one rule in real estate, and it's often the most overlooked rule.

The Epitome of Location, Location, Location
You can buy the right home in the wrong location. You can change the structure, remodel it or alter the home's layout but, ordinarily, you cannot move it. It's attached to the land. The best locations are those in prime spots such as:

•Within Top-Rated School Districts
Home buyers with children are concerned about their children's education and often will pay more for a home that is located in a highly desirable school district.

•Close to Outdoor Recreation and Nature
Homes abutting the ocean, rivers, lakes or parks will hold their value because of the location, providing they are not in the path of a possible natural hazard. People want to be near water or visually appealing settings.

•Homes with a View
Some homes sell quickly and for top dollar because they provide sweeping panoramic views of the city at night, but even a small glimpse of the ocean out one window is enough to substantiate a good location. Other sought-after views include mountains, greenbelts or golf courses.

•Near Entertainment and Shopping
In many cities, you will find homes that are located within walking distance of movie theaters, restaurants and boutiques are more expensive than those located further outside of town. Many people would rather not drive if they can walk to nightlife.

•In Conforming Areas
People tend to gravitate toward others who share similar values and their homes reflect it. Home buyers mostly prefer to be surrounded by similar types of properties in age and construction, where people just like them reside.

•In Economically Stable Neighborhoods
Neighborhoods that stood the test of time and weathered economic downfalls are more likely to attract buyers who want to maintain value in their homes. These are people who expect pride of ownership to be evident.

•Near Public Transportation, Health Care and Jobs
Most people do not want to endure long commutes to work, the doctor's office nor the airport. They prefer to be located close to emergency services and conveniences, so naturally homes in locations that shorten travel time are more desirable.

•In the Center of the Block.
I prefer corner locations, but most home buyers want to be in the middle of the block. I suppose they feel less vulnerable with neighbors around them, but they definitely enjoy less traffic.

Undesirable Locations
It's almost easier to talk about what constitutes a bad location than to discuss good locations. That's because the qualities that make a good location desirable can vary, depending on whether you're looking in the city, the country or the mountains. Bad locations, by their general nature, are easier to pinpoint:

•Next to Commercial / Industrial
Unless you live downtown, commercial buildings on your block will diminish value. Part of the reason is because home owners cannot control those who loiter in front of their home. Homes next to gas stations or shopping centers are undesirable because of the noise factor, and nobody really wants to listen to truck engines idling at night or during early morning hours.

•Near Railroad Tracks, Freeways or Under Flight Paths
When I take the El through Chicago, I often wonder how city dwellers with homes right on the railroad line put up with the rumbling and racket. I've also owned a home under a flight path and moved within a year. The noise was so loud I couldn't hear a caller on the phone, much less sleep in on the weekends.

•In Crime Ridden Neighborhoods
People want to feel safe. If your neighbor covers the windows with sheets instead of regular window coverings, and you hear cars coming and going at midnight, you might be living next door to a drug house, especially if the flashing lights of police cars are readily visible at any given time.

•Economically Depressed Areas
If your neighbors show zero pride of ownership in maintaining their homes, evidenced by lack of maintenance, poor landscaping or you spot discarded mattresses, junk car parts or old appliances lying in the yards, you might want to think twice about moving into such an area. On the other hand, some areas like this are on the edge of development and going through rehabilitation. But you're taking your chances.

•Close to Hazards
Name me one person who wants to live next door to a nuclear power plant, and I'll show you a mutant moron. Few home buyers want a transformer in their yard, either. If the neighborhood was built on a landfill or was recently swampland, nix it. Always order a natural hazard report when buying a home.

Pending Home Sales on a Record Roll

2009-09-10T16:44:00.003-04:00

Washington, September 01, 2009
Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007 when it was 100.7.

Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. “The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,” he said. “Other buyers are taking advantage of low home values before prices turn higher.

Nationally, the typical mortgage payment now takes less than 25 percent of a middle-income family’s monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. As long as home buyers stay within their budget, mortgage payments will be very manageable,” Yun said.

NAR estimates that about 1.8 to 2.0 million first-time buyers will take advantage of the $8,000 tax credit this year, with approximately 350,000 additional sales that would not have taken place without the credit. Buyers have little time to act because they must complete the transaction by November 30 to qualify for the credit. Unless extended, contracts signed but not completed by that date will not be eligible – it is taking approximately two months to complete home sales in the current market.

The Pending Home Sales Index in the Northeast declined 3.0 percent to 78.8 in July but is 4.7 percent higher than July 2008. In the Midwest the index slipped 2.0 percent to 88.1 but is 8.1 percent above a year ago. In the South, pending home sales activity rose 3.1 percent to an index of 103.8 in July and is 12.0 percent above July 2008. In the West the index jumped 12.1 percent to 112.5 and is 20.0 percent above a year ago.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said Congress needs to keep the momentum going. “Even with a good recovery taking place, the market is not yet back to normal. With a gradual absorption of inventory, we are on the cusp of a general stabilization in home prices,” he said.

“To ensure that housing has a broad stimulus to the overall economy and stays on sound footing, we’re encouraging Congress to extend the tax credit into 2010, and to expand it to all buyers of primary residences. The faster we stabilize home prices, the fewer families will face foreclosure and the quicker credit can be extended to other sectors of the economy,” McMillan said.

NAR’s Housing Affordability Index2 stood at 158.5 in July, below the peak set in April but is still 36.0 percentage points higher than a year ago. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income.

Yun expects existing-home sales to rise through the fourth quarter. “Unless the tax credit is extended, no one should be surprised to see home sales drop in the first quarter of next year,” he said. “However, the fundamentals of the housing market and the economy are trending up, and we expect home sales to generally pick up in the second quarter of 2010. The buyer psychology may be shifting from, ‘Why buy now when I can purchase later,’ to ‘I don’t want to miss out on a recovery’.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

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1The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

2The Housing Affordability Index is a relative index where a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced existing single-family home, taking into account the relationship between median home price, average effective interest rate for loans closed on existing homes, and median family income. The higher the index, the better housing affordability is for buyers.

The calculation assumes a downpayment of 20 percent and a qualifying ratio of 25 percent of gross income for mortgage principle and interest payments. The index is a general gauge with conditions varying widely around the country. Affordability conditions are lower for first-time buyers with smaller downpayments and less income.
Monthly publication of the index began in 1981 with annual data calculated back to 1970.

Existing-home sales for August will be released September 24; the next Pending Home Sales Index will be on October 1.

Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section. Statistical data, tables and surveys also may be found by clicking on Research.

(From Realtor.org)

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