How to Avoid Carrying 2 Mortgages

Don’t get trapped paying two mortgages! Here’s what you can do to avoid that situation.

If you want to buy another home, what should you do with the one you already have? You
definitely don’t want to be stuck paying two mortgages (not to mention taxes, insurance, and
utilities for each), so there are a couple of options you have.

You can rent one of the properties; some of that income will count toward your new mortgage.

If you don’t want to rent, you can simply sell the property. So you don’t end up without a place
to stay in the meantime, we can find with a buyer who will allow you to rent while you search for
a new home to purchase.

Either way, you don’t want the burden of two mortgages on your shoulders. If you’d like some help navigating this process, would like more information, or have any questions, reach out to us. We look forward to hearing from you soon.

This 3-Point Checklist Will Tell Us If We Are in a Bubble

Are we in a housing bubble? There are three indicators we must look to when considering this question.

Today I would like to focus on a question I am asked all the time, which is:
“Are we in a housing bubble?”

The important thing is that you, the seller, are able to accept an offer
that fulfills your wants and needs.

There are actually at least three requirements that must be met for a housing bubble to occur:

1. There must be low inventory. As you have likely noticed, this is a factor in our Atlanta market

2. Prices must be rising. Once again, this is something that has been the case for our
local market lately.

3. There must be crazy loans. Fortunately, this is not true for our area. At least, not yet.

Overall, the bottom line is that you should not worry about a housing bubble for now. But it is a
great time to list. You could get a fantastic deal for your home if you sell right now.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

What Should You Do When Your Property Receives Multiple Offers?

Today I would like to review a three-step guide on how sellers can navigate a multiple offer situation.

In a hot market like what we are seeing today, multiple offer situations are very common. It takes
just days for a property to see three, four, or five or more offers. That being said, how can you handle
these circumstances as a seller? There are three steps I recommend.

1. Identify the situation. When your home has just been listed and your agent is already receiving calls
after call inquiring about the property’s availability, it is a good sign that multiple offers are in store.

2. Set a time limit. Such a high level of competition over your listing may seem overwhelming, so the
best way to proceed is by setting a time limit. This will give you the chance to review and compare
offers.

3. Choose the best offer, not just the highest. While the highest-priced offer and the best offer are
usually one in the same, this is not always the case. The important thing is that you, the seller, are able
to accept an offer that fulfills your wants and needs. And because multiple offer situations can result in
bidding wars, it is important to make sure a potential buyer will be willing to make up the value
difference in cash in case the property does not appraise accordingly.

The important thing is that you, the seller, are able to accept an offer
that fulfills your wants and needs.

If you have any other questions or would like more information, feel free to give me a call or send me
an email. I look forward to hearing from you soon.

Maintaining Your Heating and Cooling Systems

With summer nearly over, I’m sure you (like me) have been reminded just how much we use our air conditioning. Soon, in the winter, you’ll also be reminded of how often you use the furnace, too.

It’s one of the major systems in your home, and a surprise issue with one of these systems can be a nightmare if handled improperly. That’s why I wanted to share a video from Angie’s List that I recently saw about proper maintenance of your heating and cooling systems.

If either unit is having issues, did you know you can actually hire technicians who are specially trained to work on certain brands? For example, if you have a Trane system, you can find a tech who is trained specifically to work on Trane products.

Secondly, always remember to get a second opinion when someone recommends that you replace a system because oftentimes a repair will do. You want to be certain when it comes to a part of your home that should last 20 years, especially considering the cost of a replacement.

"...be proactive with service on these systems."

Unfortunately, as the video points out, there are a lot of people out there in that deal in these systems and prey on customers that don’t know any better. If you’re hiring a company, you should investigate them by checking out their web reviews or social media pages. 

Also, be proactive with service on these systems. If you wait until the system is broken down and needs repair to get it checked out, you’re now at their mercy. 

As always, for any real estate questions, feel free to give me a call or send me an email. I’d be happy to answer them for you!