The Pazi Group Real Estate Advisors Podcast

Selling your home? Get a home valuation.  Buying a home? Search the local MLS. Today I’m bringing you a look at a listing my team and I took over after it failed to sell with another company. Before we got our hands on this property, it had sat on the market unsuccessfully for 180 days. In just a quarter of the time it was on the market with the previous company, my team and I were able to find this home a buyer. So, how did we achieve this? Watch this short video to find out.

When you’re getting ready to buy a home, it’s a good idea to talk about credit. Selling your home? Get a home valuation.  Buying a home? Search the local MLS. Today we're talking about credit. More specifically, we’re talking about the minimum credit score requirement for an FHA loan. The reason we’re focusing on the FHA loan here is that it has the lowest barrier to entry for buyers.FHA stands for the Federal Housing Administration. They are the ones that come out with all the different guidelines and rules. The FHA-approved lenders are the ones who enforce these rules. FHA-approved lenders typically require a 580 minimum credit score. If you’re below that, you may still be able to qualify, albeit with a 10% minimum down payment. However, hitting that 580 market will ensure that you can get a loan with a 3.5% down payment.  When you’re getting ready to buy a home, it’s a good idea to set aside some money for closing costs. There was a time when I could tell my clients that we could get their closing costs covered by the seller, but we’re not in that kind of market anymore. The market is so tight now and homes are moving so quickly, by the time we submit an offer on a property there will most likely be other offers to compete against. That means that we have to make sure your offer is as attractive as possible.If you’re not quite at that 580 credit score, you should consult with a mortgage professional so we can make sure you qualify for a home. Also, remember to keep some money set aside for your closing costs. I’d be setting you up for failure if I told you there weren’t going to be any.If you have any questions for me, don’t hesitate to reach out and give me a call or send me an email. I’d be happy to answer any questions you may have.

I want to share an alternative home loan option that is a little more inclusive. This is a great option for anyone looking for assistance in affording their next home. Selling your home? Get a home valuation.  Buying a home? Search the local MLS. Today I want to follow up on the information I recently shared with you about a 100% financing option.  Unlike down payment assistance, this option allows buyers to forgo a down payment altogether. However, this particular program is a little bit exclusive.   That’s why I want to share an alternative option that is a little more inclusive. This is a great option for anyone looking for assistance in affording their next home. The last one had a credit score requirement of 636, while this new program only requires your score to be at least 620.   This is a great option for anyone looking for assistance in affording their next home. So long as your score is at least 620, you can get a conventional loan with no down payment and no private mortgage insurance. Many people opt for FHA loans, but that loan type actually means you cannot get rid of your private mortgage insurance, which will cost you a couple hundred extra per month.  Another stipulation for the program I’m offering today is that you must earn less than $55,000 a year. If you earn more, you’re going to need a slightly higher credit score.  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.

Selling your home? Get a home valuation.  Buying a home? Search the local MLS. I’m proud to announce that we just rolled out a brand-new loan program that offers 100% financing. That’s right—you don’t have to put down a down payment.   There are some stipulations to this program, but it’s not like most other down payment assistance programs because it doesn’t have an income cap—you don’t have to only earn a certain amount of money to qualify for it. With this program, if the property qualifies, you qualify. All you need is a 636 credit score or higher.  With this program, if the property qualifies, you qualify. Also beneficial is the fact that it’s a conventional loan product, which eliminates your upfront mortgage insurance premium and your monthly mortgage insurance premium (which you can find on any FHA loan).   I’m trying to get anybody I can who qualifies for this program to submit an application for it, so if you’re interested in doing so, don’t hesitate to reach out to me. If you have any other questions about our Atlanta market, give me a call or shoot me an email. I’d be glad to help you. 

There are a few major events that can happen in a person’s life that might cause undue stress in a real estate transaction. Today I want to talk about a few of the most common.  Selling your home? Get a home valuation | Buying a home? Search the local MLS When people are facing difficult times, they tend to make the same mistakes as it relates to real estate. My hope is that if I can share some of those mistakes with you, if you ever find yourself in a similar stressful situation, then you won’t make them yourself.The first thing I wanted to talk about relates to suddenly losing your job. If you lose your job and you’re still able to make your mortgage payments on time, continue doing so until you can find another job. If you are unable to keep up with your mortgage payments, you need to call your agent immediately and discuss a game plan that you can put into action to help get you out of that situation. Another time where things can get very stressful is when you are going through a divorce. A divorce is already stressful enough, and when you throw real estate into the mix, it can become a mess.   There is no one-size-fits-all solution to handling real estate. You’ll need to figure out what the best course of action is for you and the other party, and then we can come in a help facilitate whatever that decision is in regards to the property, whether it be a buyout or just a sale of your home.Another trying time that can cause stress around real estate is the loss of a loved one. When somebody passes on, I believe there is a natural grieving process that needs to take place. Usually what happens is people tend to move too quickly, or they hold onto the property for too long. I generally tell my clients to take the time they need to grieve their loss, and then we can sit down and make a game plan about what makes sense for them once that grieving process has concluded.The most important thing to remember is that there is no one-size-fits-all solution to handling real estate. We have to take a look at every unique situation and handle it appropriately. We want to make sure that you know that we are available to answer any questions you may have.If you have any other questions about this topic, please give me a call. I’d be happy to help.

Today I have my top five home updates to avoid. Selling your home? Get a home valuation.   Buying a home? Search the local MLS. Today I’ve compiled a list of home updates that you should avoid before putting your home on the market.  1. Wallpaper. As a rule of thumb it won’t give you back the investment that you put in, primarily because it’s a specific choice that’s personal to you.  2. Flooring. You don’t want to replace carpet with more carpet. There are a lot of hard surfaces out there that are reasonably priced that will appeal to more buyers.  3. Lavish lighting. There are a lot of beautiful options out there for light fixtures. You want to keep your choice simple and plain, instead of choosing lighting that is too trendy.  Paint is a critical piece to any listed property. 4. Paint. Paint is a critical piece to any listed property. You want to make sure that you don’t have loud colors, dark accent walls, or super bright rooms. You want to paint in neutral colors that no one will complain about.  5. Pools. Appraisers won’t give you value with that pool, and buyers won’t understand how much it costs. It’s a great addition if you want it for you and your family, but don’t install a pool for the sole purpose of adding value to your home, as it won’t.  If you have any other real estate questions or you’re looking to buy or sell a home, please give me a call. I’d be happy to help!

Can you trust Zillow to provide an accurate estimation of your home's value? Sometimes yes, most times no. Here's why. Selling your home? Get a home valuation | Buying a home? Search the local MLS With property values here in Atlanta going up, we've received a lot of questions about Zillow Zestimates lately. The Zestimate is a value estimation that Zillow comes up with for your property. The No. 1 question about them is whether they're accurate and trustworthy, and how they even come up with this value.The Zestimate is a proprietary algorithm that uses things like public data and tax records to estimate your home's value, but there are many things that they can't consider with an algorithm. For one, Zillow's algorithm can't take your area or neighborhood into consideration. If, for example, you're in a cookie-cutter new construction neighborhood with similar houses and a small handful of floor plans, it will actually be a little more accurate. However, if your property is unique or has been renovated or is just very different than the other properties around it, you need to be aware that Zestimates can't account for this. They also can't account for any upgrades you've done in your home, which can add significant value. Zillow can't take your neighborhood into consideration. Also, remember that Zillow has a margin of error of about 7%. Think about that in terms of a $300,000 house; that's a lot of money! That could cause the price to be overinflated by $20,000 or it could cause you to leave money on the table.So be careful with Zillow Zestimates when you're thinking of selling your home as they can't account for some very important factors in your home. If you'd like a custom valuation of your home or you have any questions about the Atlanta real estate market, don't hesitate to give me a call or send me an email soon. I'd love to hear from you!

Selling your home? Get a home valuation. | Buying a home? Search the local MLS. If you are thinking of buying and renovating a fixer-upper, there are a few things you need to know. First of all, make sure that you do your homework. Figure out what you can afford and find out which neighborhoods are trending upwards. That way, if you do a renovation or major rehab project, you will be able to recoup that equity you are looking for. I can certainly point you toward some areas that are increasing in value. Next, start evaluating the projects that you want to handle inside and outside of the home. Before you actually get started, plan what you intend to do. What repairs need to be addressed in the home? Keep in mind that not everything in a house needs to be fixed before you move into it; some projects can be completed over time. Evaluate the project and yourself. It’s also important to be real with yourself. What projects can you tackle on your own, and which ones should you hire a professional for? You might be very handy around the house, but that doesn’t mean you should fix the roof or redo the hardwood floors on your own. If you need any recommendations for a professional, let us know. Sometimes hiring a professional can be worth your while. Finally, evaluate the project and yourself. Consider whether or not you are ready, willing, and able to complete the renovation. Renovation involves a lot of destruction. Whether you live in the house while you renovate it or move in after renovations are done, you need to evaluate the scope of the project before you make your move. If you have any other questions about fixer-uppers or about real estate in general, give me a call or send me an email. I would be happy to help you!

Selling your home? Get a home valuation. | Buying a home? Search the local MLS. If you purchased a home in 2016, you have the ability to file for a homestead exemption on your primary residence. A homestead exemption is a great way for you to save money. You cannot file for a homestead exemption on a rental property or vacation home, but you can file for one on your primary residence. Basically, a homestead exemption reduces your tax liability on your property taxes, which saves you money. The amount of money depends on the county that you live in. I have a document that I can share with you that has links to all of the counties in our area. All you have to do is click on the link to get to the tax assessor’s website and you can file for the exemption. Most counties allow you to file for the homestead exemption online but some, like Cobb County, require that you mail in the application. A homestead exemption will save you money on your property taxes. No matter how you file for the home extension, you will save money every month on your mortgage so long as your property taxes are escrowed in. When you file, you need to submit a copy of your deed. You should get the deed from your closing attorney four to six weeks after closing. If it’s been longer than that, reach out to your closing attorney to get a copy.  If you would like a copy of the document with the links to the tax assessors’ websites, just email me at [email protected] and I’ll send it along to you. Of course, if you have any other real estate questions, don’t hesitate to reach out to me. I would be happy to help you!

Selling your home? Get a home valuation. | Buying a home? Search the local MLS. I wanted to be sure to end the year by expressing my gratitude for all the interactions and positive experiences we’ve had throughout the year. This year has been a great one for us on a business level, and my wife and I have also been very blessed. We welcomed our baby girl into the world this summer! It’s been a whirlwind of changes, and I’m so happy and grateful. We expect amazing things in 2017 and we look forward to you being part of it with us. Thank you for your support and referrals! We’re excited to share more great videos with you next year. In the meantime, if you have any questions or there’s anything I can help you with, don’t hesitate to give me a call or send me an email. Happy New Year!

Selling your home? Get a home valuation. | Buying a home? Search the local MLS. Now that fall is winding down and winter is right around the corner, I have five tips to help you get your home ready for sale during the holiday season: 1. Maintain good curb appeal. How your house looks from the street matters a great deal. I’ve had clients get excited about a property they saw online only to not even want to get out of their car once they saw it in person because the yard was a mess. Granted, it’s that time of year when leaves and pine needles are falling like raindrops, so buyers understand that your yard won’t be immaculate at all times, but an unkempt yard doesn’t leave a very good first impression. To get a sense of what impression your house gives, it never hurts to ask a neighbor their honest opinion about it. 2. Go easy on the holiday displays. We all love an ornately decorated house, but too much holiday tableaux can be distracting in the eyes of a buyer. Tone down your decorations to make sure your house doesn’t go overboard. Your home’s temperature shouldn’t be the only thing that feels inviting. 3. Make sure your home is warm and inviting. As the weather cools down and everyone’s walk from the car to the front door gets more and more discomforting, you don’t want your home’s temperature to be the only thing that feels inviting. Try using some plush throws on your sofas and beds, or add some seasonal foliage in your vases. Those kinds of touches make your home seem less like a stranger’s house. To really accentuate the aesthetic, let in as much natural light as possible. 4. Prepare your fireplace. There’s nothing better than walking into a home that has a fireplace crackling. If you have a fireplace, make sure yours is good to go before lighting it up by cleaning out the interior and making sure the chimney is functional. 5. Elevate your scents and sounds. To capture the true ambiance of the holidays, your house must smell like the holidays. I’m talking about vanilla, pumpkin spice, and apple pie. These scents make people feel cozy. I also always tell my clients to have some smooth jazz playing in the background. Not only does it set the mood, but it can also potentially cover up the sound of a leaky floorboard or other noises you don’t want any mingling buyers to hone in on. If you have any questions about this or any other real estate-related topic, please don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon. Happy holidays!

Selling your home? Get a home valuation. | Buying a home? Search the local MLS. I talked with a client earlier this week who was nervous about putting his house on the market during the fall and winter. However, fall and winter are great seasons for home sellers. Why? The summer selling season is over. Although there are fewer buyers in the market at during the fall and winter, the buyers who are out looking tend to be more serious this time of year. During the summer, you get a lot of tire kickers who are just checking out houses without any time frame or commitment. Buyers this time of year actually want to make a deal. Buyers are more motivated this time of year. We already have a limited supply of homes out there, so when a home comes on the market, buyers are highly motivated to make an offer. Home sales are up 16% year over year, while new listings are only up 8%. Our supply is simply unable to keep up with demand. New listings aren’t hitting the market fast enough for buyers, which puts sellers in a great position. By listing in the fall or winter, you also get to take advantage of the pent-up demand left over from the summer market. Due to our housing shortage, many buyers were unable to get a house this summer, and they want to find a house this fall. Ultimately, it is not too late to sell your home this year. If you have any other questions about selling your home in the fall or winter market, just give me a call. I would be happy to help you!

Selling your home? Get a home valuation. | Buying a home? Search the local MLS. The first question people ask me when they find out I’m a real estate agent is, “How is the real estate market doing?” Right now, we are in a seller’s market. A seller’s market has less than six months of housing inventory on the market. Basically, if no new homes came on the market, all of the homes that are currently listed would sell in less than six months. If it would take more than six months, that would be a buyer’s market. We are in a very strong seller’s market, as we only have about two months of inventory available right now. However, buyers shouldn’t be discouraged. Although you may run into a few multiple offer situations in higher price points, interest rates are still extremely low. What does that mean to you as a buyer? We only have two months of inventory on the market! My wife and I bought a house about a year ago, and rates today are a full point lower than they were back then. By buying a $250,000 house today, you will save up to $120 a month on your mortgage payments. If you buy a $400,000 house, you will save $260 a month on your mortgage payments. Although home prices are a bit higher because we are in a seller’s market, buyers can still save money in the long run by locking in a historically low interest rate. Ultimately, even though we are in a seller’s market, now is still a great time to buy. If you have any other questions about our current market, just give me a call or send me an email. I would be happy to help you!

Selling your home? Get a home valuation. | Buying a home? Search the local MLS. I’ve got some exciting news to report to you all today. I’ll be sharing my real estate expertise with you through my new video blog. Here’s how it will work: Each month, I’ll produce two videos addressing trends in our local real estate market. I’ll answer questions about Atlanta real estate, update you on the local market, and I’ll even include tips for buying or selling homes in Atlanta. I’ll also address changes to the lending, financing, and title industries to better help you navigate our market. I’d love to answer your specific questions about the real estate market. Rather than simply guess what’s on your mind, though, I’d like to reach out and ask you all what kinds of questions you have. Are there any concepts you’re unclear about? Are you curious about the market in your particular area or neighborhood? My goal is to build the best possible Atlanta real estate resource for you by answering your specific questions in my videos so that other people with similar questions can benefit from them, too. If you have any questions about real estate that you’d like me to address, please don’t hesitate to call me or send me an email. I look forward to hearing from you!