Tag Archives: Forsyth County Homes

How to Finance Your Home Renovations

Tuesday, 07 September 2021 11:27
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Have you ever watched the TV show ‘Love It or List It?’  Perhaps you’re thinking of staying put until the market gets a little calmer, but you would like to do some home renovations.  Outdated kitchen. Overrun backyard. Unusable basement space. If you have a home renovation project on your mind, the first thing you must consider is how are you going to finance it. Here are some of the most common options to make your dreams become a reality.

Cash. Paying in cash is the most straightforward financing option, just save until you have enough money to cover the expenses. This will help eliminate spending outside your budget; however, it can also extend your timeline.

Mortgage Refinance. If you’ve been making payments on your home for a few years and your interest rate is higher than the current market rates, you may be eligible for a mortgage refinance, reducing your payments and freeing up some money.

Cash-Out Refinance. You can tap into your home equity and borrow up to 80 percent of your home’s value to pay off your current mortgage plus take out more cash to cover the renovations. This option is encouraged only when you’re making improvements that will increase the value of

your home, as it can add a lot of interest and fees.

Home Equity. Getting a home equity line of credit allows you to borrow money against the value of your home. You receive usually up to 80 percent of your home’s value, minus the amount of your loan.

Retirement Funds. Homeowners can consider pulling money from a 401K or IRA account, even though they aren’t specifically meant to cover a home renovation. This option might incur additional penalties or tax payments but may be worth it when making improvements that will benefit them financially in the long run.

Whichever option you choose, consider the renovations carefully in regards to resale.  You want to make sure the renovations will increase the value of your home but not overprice it for the neighborhood.  And of course, after you do the renovations and you decide you want to list, give me a call.

Hope you found these tips helpful.

Sincerely,

Marie

The Dinsmore Team

Experience, Passion, and Commitment to Excellence

There’s More than One Way to Sell a Home

Friday, 31 January 2020 09:15
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When it comes to selling your home, it’s a big undertaking.  Unless you’ve maintained your home in pristine condition, it make take a few months to get it to the point you can list and show it.  And what about those repairs that need to be done?  And do you invest in doing those upgrades or not?  Which upgrades will bring you your best ROI?  Just so much to take into consideration.

What if there was a way to get an idea of what your home value would be in it’s ‘as is’ condition?  Well, you may be thinking, I can just look at the other homes in my neighborhood.  Or call a Realtor who can give you an assessment.  Yes, those are viable options, but what if there was a way to present your property to multiple sources and receive multiple offers without the guess work?  What if I told you, there is a way?

I am now iRep certified.  Which means I can assess your property and put together a presentation to all those companies who advertise to give you cash offers on your home.  But you’re probably thinking, well can’t I just do that myself?  Yes, you could, but by using my services and expertise, I can help get you the best offer.

Typically, what happens when you go directly to one of these companies, they do no prior assessment of your property.  They just look at the basic information and what has sold around you and send you an offer.  If you want to proceed, then they send someone out to inspect your property and then give you the real offer, which is much lower than what they initially offered.  Why, because they see all the things that needs to be repaired, replaced, upgraded, etc. and lower their offer.  When you use my services, I provide the assessment to the company upfront which includes any repairs, etc. that need to be done.  You then get an offer of the true value of your property because they know upfront the condition of the property.  Plus, since I am representing you, you won’t be bombarded with emails and phone calls should you decide this is not the route you want to pursue.

Using my iRep services can help the home selling process in a couple of different ways.  First, if you’re thinking about selling and want to get a really good idea of what your home will bring, this is a good option.  Second, after receiving your offer, you can decide if you want to go through the listing and showing of the traditional route.  Perhaps you have small children, animals, or elderly parents that going the traditional route would be very disruptive to your home life.  Perhaps the difference between getting a cash offer and what it would take to get your home ready to list and show is not in your time constraints.  Perhaps you have a reason that you need to sell and move quickly.  All of these are very valid reasons to consider using the iRep process.

To learn more about the iRep process give me a call and we can discuss what is best for you and/or see our webpage at https://www.dinsmoreteam.com/irep/ for more information.

Home Sales for the Past Year

Friday, 24 January 2020 15:49
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Happy New Year!  It’s still January so I can still say that.

The real estate market continues to be great!

Housing Indicators are in for 2019, and it was another great year for Georgia’s housing market! With a strong economy and low mortgage rates, buyer activity has been strong. However, inventory levels are still below historical norms, and prices continue to rise.

A few quick facts are listed below – all indicators are year over year for existing single-family homes.

• Median Sales Price: 6% increase to $228,000
• Pending Sales: 6.7% increase to 145,087
• Closed Sales: 4.9% increase to 142,915
• New Listings: 6.4% increase to 201,215
• Average Sales Price: 4% increase to $272,207
• Days on Market: 5% decrease to 55 days
• Months Supply of Inventory: 10.8% decrease to 3.3 months

If you are thinking about buying or selling, now is a good time.  Mortgage rates are still low and prices will continue to go up. Give us a call, we are here to help.

Marie Dinsmore

The Dinsmore Real Estate Team

770-712-7789

Featured Neighborhood: Gables at Stoney Point in Cumming, GA

Friday, 13 March 2015 22:44
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176202979404479_gablesmodela_copyLocated just above the affluent Johns Creek corporate corridor, The Gables at Stoney Point sits within driving distance of some of Forsyth County’s finest schools, medical facilities, and shopping ventures.  With convenient access to GA 400—and subsequently the bustling city of Atlanta—this established, private community of only 77 homes is surrounded by acres of forested space and quality craftsmanship.

Starting in the mid-high $500’s, this beautiful gated community comes complete with a private club that includes a two-story clubhouse and pool, as well as perfectly manicured cul-de-sac streets and professionally landscaped yards.

Outside, each home includes a wood deck or patio and premium wood entry doors, along with 30-year architectural shingles and a variety of high-end exterior materials—to include 3-sides brick, real stone, and shake & siding veneers.

Inside, each home has been designed with an open floor plan and comes standard with stunning hardwood floors, two 42-inch fireplaces, granite kitchen countertops, stainless steel Whirlpool appliances, and spacious walk-in closets.

SCHOOLS:  (Award-winning Forsyth County Schools)

S1907694181427359GablesSitePlan2outh Forsyth High School

Piney Grove Middle School

Shiloh Point Elementary

 

SHOPPING:

 

North Point Mall

Avalon

The Collection at Forsyth

North Georgia Premium Outlet Mall

Mall of Georgia

 

If you’re interested in learning more about this community or seeing what homes are still available, feel free to visit their website at www.SRHomes.com/Gables-At-Stoney-Point or contact me to set up a viewing.

 

Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 678-455-3048

The Myths and Realities of Home Appraisals

Saturday, 27 December 2014 20:31
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78377971Whether you’re planning on buying or selling a home, chances are good that you’ll come into contact with an appraiser at some point; however, while most of us have a basic understanding of what a home appraisal is, there are a lot of myths that surround the process that are worth understanding before making the decision to buy or sell.

MYTH: The appraised value of a property will vary depending upon whether the appraisal has been completed for the buyer or seller.

REALITY: Since the appraiser has no vested interest in the outcome of the appraisal, they should conduct their assessment with a sense of objectivity and no special regard for the party who initiated the process.

MYTH: A home’s market value should be in line with its replacement cost.

REALITY: While market value seems like it should be related to replacement cost, it’s important to understand the distinction between the two ideas since they are actually quite different.  For example, even though your home’s replacement cost may be set at $450,000, its market value may sit closer to $400,000.  In short, market value represents the amount of money a buyer would likely pay when not under pressure to buy or sell, while replacement cost represents the actual dollar amount required to reconstruct the property in-kind.

MYTH: Appraisers use a formula, which details the specific price per square foot, to settle upon the value of a home.

REALITY: When an appraisal is completed, all factors pertaining to the home’s value are taking into account, including its location, condition, size, proximity to local facilities, and recent sale prices of comparable properties.

MYTH: When the sale prices of homes in any given area are reported to be rising by a particular percentage, local homeowners can expect their individual properties to appreciate by the same percentage.

REALITY: While area can make a difference, value appreciation of specific properties is still determined on an individual basis, which takes into account factors such as data on comparable properties and other relevant considerations.

MYTH: When applying for purchase or refinancing loans, consumers pay for their appraisal, which means they “own” it upon completion.

REALITY: While a small portion of your loan may go towards paying for the appraisal, it is, in fact, legally owned by the lender.  Still, under the Equal Credit Opportunity Act, consumers who submit a written request must be furnished with a copy of their appraisal report.

MYTH: An appraisal is the same as a home inspection.

REALITY: Yes, at first glance the two job descriptions may seem similar; however, their final functions remain quite different.  The purpose of an appraiser is to form an opinion of the value of a home—and to process the resulting report—while a home inspector determines the condition of the home and its major components before stating their findings.

In the end, if you’re looking to add value to your home for an expected appraisal or you would like to know more about the process, it’s important to speak with an experienced Realtor who can help you not only make the right decisions, but feel comfortable about the appraisal proceedings.

If you would like to know more, please feel free to contact me.  I’m always here.

Marie Dinsmore | The Dinsmore Team | www.dinsmoreteam.com | 770-712-7789