"Must Have" Kitchen Upgrade

When a homeowner gets foreclosed on, they typically take anything of value from the home. If there is something the homeowner hasn’t taken, the bank then strips the home of anything left including window treatments, blinds, etc.

I have been in homes recently where the entire Kitchen had been ripped out including the cabinets. The buyer would need to start from scratch on rebuilding the Kitchen.

Imagine my surprise when I walked into a bank foreclosure last month to find a high-end, built-in European coffee maker. I couldn’t believe that it had been left behind. Even though this specific home had been left in overall good condition, the coffee maker was the star attraction for the family looking at the home, the home inspector, and the seller’s representative.

The two areas of the home with the highest rate of return on your investment are improvements in the Kitchen and Bathrooms. If I was in the process of remodeling my kitchen or building a new home, I would definitely consider a built-in coffee maker even if I didn’t drink coffee!

Worth a look!!

Bank Foreclosure - Buyer Beware

There are two important differences in buying a home from a bank in a foreclosure and buying a home directly from the original owner. The first difference is the bank does not need to do a state required Seller’s Disclosure Statement. The purpose for this Seller’s Disclosure is to provide the buyer with a detailed background of the home that is filled out and then signed by the seller. The second difference is that the Bank typically has the buyer sign a detailed addendum to the purchase contract stating the buyer is purchasing the home “as is.” There is no accountability for the bank after you close.

I recently had a buyer put a bank foreclosure under contract at a huge discount on the price. This foreclosure had no utilities on at the time we put the home under contract. Even with a flashlight, it was difficult to view the entire basement area.

When we did the home inspection, it turned out there was a significant amount of mold throughout the basement area. Based on the health concerns this mold represented to their family, the buyers immediately terminated the contract.

Even though the buyer was able to get a full refund on their earnest money, the emotional attachment was difficult to overcome. The kids had already selected their bedrooms and they were in the process of picking the paint color for their rooms. They were heartbroken.

The solution? I am now offering to my buyers a FREE ($379 value) Pre-Home Inspection Report to provide the buyers a general inspection of the home PRIOR to making an offer on the property. Why not have peace of mind that you are making the right decision before making a big investment on a home. This special promotion also applies when you list a home with me. Why not get an idea what the buyer’s home inspection might uncover before you put your home on the market?

Please call me for more details: Laura Andersen, Georgia Elite Realty – Cell (678) 462-1191.

Atlanta's Forgotten Real Estate

It was such an honor to have the 1996 Olympics here in Atlanta. We all remember the excitement it brought to our city. We had the former Boxing Champion, Muhammad Ali, lighting the Olympic Caldron during the Opening Ceremonies. Where is this historic piece of Atlanta history today? It is now stored in the parking lot of Turner Field. OK, it is a butt ugly piece of metal. There, I said it! It is scheduled for a $200,000 refurbishment at taxpayer's expense. If they already have this planned, why not dress it up with some nice banners and move it over to Centennial Park where it should be? This Olympic symbol is well deserving of a new home.

Annual Fall Atlanta Home Show

The Annual Fall Atlanta Home Show is September 23-25, 2011 at Cobb Galleria Centre.

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