The Norton Annual Forecast is January 20th

The Norton Agency 2011 Annual Forecast is scheduled for January 20th at The Georgia Mountain Center in Gainesville.

What is the annual forecast?

An opportunity to hear from our President Frank Norton Jr. Frank will give an overview on conditions in the North Georgia area. This includes residential and commercial real estate, business growth, zoning, water, population, and other trends that directly affect the area.

Frank Norton Jr. has a solid reputation in the North Georgia area! His interpretation of statistical data, and general insights, make him a sought after speaker to local government, civic organizations, and fellow real estate professionals!

The activities start at 5:30pm! Come join us and see what is happening for 2011!

After the Annual Forecast, The Norton Agency will publish the 2011 Native Intelligence. If you would like a copy let us know.

Barb, Sue, and Randy make up The Wells Team of The Norton Agency. WE KNOW THE NORTH ATLANTA METRO AREA AND NORTH GEORGIA!

Check out our website at www.randywellsteam.com

See you on the 20th of January!

Why We Were So Successful in 2010!

I am not writing this blog to appear on the arrogant side. Rather I wanted to briefly explain why The Wells Team had a great year in a tough real estate market.

There are two reasons:

HARD WORK

In our opinion we outworked our competition. How? 24/7 availability! With a team of two agents and one admin assistant, a phone call or an email was answered quickly.

Doing the extra services that differentiate us from the rest. We have stored furniture, painted doors, replaced lights, painted, located contractors, and done other things to assist our clients.



TEAMWORK

The three of us have operated as a strong team in 2010. This team of three worked for each other not against each other. We shared the compliments and the criticism. We trust each other and do not have to look behind our backs.

We shared the same strategies and long term goals.



The overall success speaks for itself. We will end up in the top 5 of 145 agents at our company with over $4.8 million dollars in sales.



Of course The Wells Team knows that our success is also a result of working with our outstanding clients!



We look forward to a successful 2011! If you are looking for property in the North Atlanta metro area give us a call. We are The Wells Team of The Norton Agency.

www.randywellsteam.com

Covenants:A Binding Agreement?

Covenant-A binding agreement. Usually formal, solemn, and binding agreement.

References have been made in the bible to covenants between God and his people.

In an neighborhood in Atlanta covenants are 50 plus pages of restrictions!

A quick story that relates to the subject. I recently received a phone call from some close friends that live in a covenant protected neighborhood in Atlanta. This neighborhood has held its home values despite the local market. They are also located in an area with a top ranked public school system.

They told me they wanted to move. Matter of fact they had found a home with two acres in the same school district. The land was beautiful, the home was definite step back, but this represented a new lifestyle.

Why the change? Neighbors and covenants!

Neighbors: We have no power to select our neighbors.

Covenants:They followed the covenants. Unfortunately other neighbors felt differently.

My take: I own properties in Georgia and Florida both of which have covenants. They are a necessary evil. Unfortunately trying to keep 500 individual homeowners on the same page, without the written word, has been a failure. Covenants became a necessity.

We make sure that our clients have a copy of the covenants to review during due diligence. They need to read them and make a commitment to abide them. If they are too much then we need to look elsewhere.

Bottom line:THEY ARE FOR EVERYBODY IN THE NEIGHBORHOOD NOT EVERYONE ELSE BUT YOU!

If you are looking for properties in the North Atlanta area let us know. We are The Wells Team of The Norton Agency. A combined 42 years living in the North Atlanta area!

Should you Update or Upgrade Your Home?

Should you update and upgrade your home prior to selling? That is a difficult question to answer but is a question worth examing.

I wanted to lead by example. My family is living in a 10 year old home. During those ten years we have updated the Kitchen, painted, installed new carpet, and additional hardwoods.

We just completed remodeling the Bathroom (my wife designed the entire project). I have attached before and after pictures to show you the difference.

Why do we do it? There are many reasons. Future resale would be one reason. However we did it to enjoy it!

Our situation is slightly different than our present clients. We are not going to sell our home for quite a few years.

However my suggestion to our present and future home selling clients: Strongly consider doing some upgrading and updating to your home!

Here is my reasoning:

Decorator allowances, agent bonuses, and other "give aways" do not work

Atlanta has limited new construction. However buyers are demanding new home style in a resale home.

Buyers continue to lack imagination, time, and money to do their own upgrades.

Our feedback continues to be consistent. We have homes that show well but lack the latest that separates it from the rest.



Barb, Sue, and Randy make up The Wells Team of The Norton Agency. Let us help you prepare your home for sale in the North Atlanta area. We also offer redesign services free to our clients!

I Can Call You Anything I Want!

The professionalism continues to decline.

Recently I had a problem with an agent showing my listings. The agent would contact our sellers directly sometimes knocking on their door. Our showing instructions were clear that we needed to be contacted first.

I wrote an email to this agent, and her broker. I thanked them for showing the property and looked forward to working with them. All I asked, nicely, was that they called me first. I have information on my clients, and their property, that could be beneficial to all sides.

In return I received an email. It said that it was all about control and that I am a D---!

Obviously I was shocked by the response.

I took this to my broker. She contacted the other broker and asked her to explain her agent's behavior. Her response was irritation that I had forwarded the email to my broker. Nothing was going to be done!

My broker's hands are tied. Why? Because this sales office agents are not members of a board of realtors and have no company guidelines on this type of behavior.

If I had made a similar comment my company would have fired me for violating company policy.

Bottom Line: There are agents who can do whatever they want. They do not have conduct guidelines from their company. Since they are not members of a board of realtors, or the National Association of Realtors, they have no additional codes of conduct.

Unfortunately this sales office is in my neighborhood! How ironic!

We are a part of Dawson County Georgia

The Wells Team had the opportunity to participate in the Dawson County Business Expo. The event was sponsored by the Dawson County Chamber of Commerce. (The Wells Team is a proud member of the chamber).

The event was a way for local businesses to showcase their talent.

The Wells Team, of The Norton Agency, is proud to call Dawson County Georgia home.

If we can help you look for property in Dawson County, or the North Atlanta Metro area, give us a call.

Check out our website at www.randywellsteam.com

Before you list your home: Upgrade and Update!

By now any homeowner should know what is happening in the real estate market. It is on the news daily, in magazines, newspapers, and discussed frequently by the "experts".

HGTV dedicates shows to homeowners who endure ridicule from potential homebuyers on the condition of their home. They in turn spend money and time upgrading their home to ready it for sale. The results are usually positive.

With all of this information available why do many homeowners put up a "wall" when upgrading is discussed on their particular home?

Barb and I have sold over $4 million dollars in real estate for 2010. Based on these sales we can tell you where our success has been in home sales.

The home is either a foreclosure or short sale. If not then the home has undergone upgrading and updating.

It is that simple.

The buyers are still in control. I repeat the buyers are still in control. What they want is a resale home with the latest and greatest included. That means granite countertops, stainless steel appliances, hardwoods, updated master bathrooms, and mounted flat screen televisions.

They do not have the time, money, or imagination to renovate themselves. They want the home move in ready.

If you are considering listing your home in the North Metro Atlanta area give Barb and I a call. We will tell you what you need to hear and not what you want to hear.

Check out our listings at www.randywellsteam.com

Helpful Government Mortgage Websites

Do you have questions about government loan programs?

Fortunately there are a lot of internet resources available.

The websites were compiled by Lou King of Norton Guaranty Mortgage. Lou knows these programs well. You can contact her at 404-310-0646 lou.king@guarantymortgage.com

Thank you Lou!

FHA Mortgage Limits per County https://entp.hud.gov/idapp/html/condlook.cfm

FHA eleigible condos https://entp.hud.gov/idapp/html/condlook.cfm

USDA property eligibility http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

Reverse Mortgage http://www.reversemortgage.org

Mortgage Hardship http://www.makinghomeaffordable.gov/


If you are looking for property in the North Metro Atlanta area give us a call!
We are Barb Dumont and Randy Wells of The Wells Team
See all of our listings at www.randywellsteam.com...

Fall Festivals in North Georgia

(Burts Pumpkin Farm in NW Dawson County)

This is the time of year when I really love living in North Georgia.

The leaves are starting to turn, Lake Lanier is still warm enough to take boat rides, and every weekend brings a fall festival.

Here are just a few of the many festivals available in October.

North Georgia State Fair Now until October 3rd www.northgeorgiastatefair.com

Cumming Country Fair and Festival October 7-17 www.cummingfair.net

Gold Rush Days Dahlonega October 16 and 17 www.dahlonega.org

Moonshine Festival Dawsonville October 23 and 24 www.dawson.org

Come up to North Georgia and see why Barb and I have enjoyed living here for 9 years!

While you are up here let us show you some properties that we have listed!

We are The Wells Team of The Norton Agency

To see all of our listings please go to our website www.randywellsteam.com

Where is the Professionalism?

We spent last night with one of our clients updating them on our local market.

They understand what is transpiring in the economy and the housing market. What they do not understand is the lack of courtesy shown by other real estate agents.

The past few showings have frustrated them. A 3pm appointment actually took place at 4:30pm. Another appointment actually transpired over two hours late. Others scheduled and did not show.

Why?

The agent who was 90 minutes late decided to show other vacant properties first. This individual did not put together a plan keeping in mind the inconvenience of our sellers.

The agent who was two hours late did the same thing. This agent showed his client empty homes first not keeping track of the time.

The ironic part is that the empty homes, as well as, our listing were in the same neighborhood!They could have easily gone back to the empty home after they kept their appointment with our listing!

We do not ask for much just some professional courtesy.

If you make an appointment be there on time. If you are running early or late give us a call.

If you drive up to the home and your clients do like the home call us. Do not leave us waiting.

Give us feedback on your showing.



A little professional courtesy in this tough market goes a long way!

THE INTERNET DOES WORK!

THE INTERNET DOES WORK!

We hear Internet statistics everyday. 90% of home buyers start their search on the Internet, no 96% start their search, or some statistic in between. We hear about these numbers but it is only relevant when it affects us directly.

Our last two contracts were a direct result of the Internet.

Both buyers are relocating from other states. Both buyers did their research through various Internet websites. Besides looking directly at homes they were also able to research schools, and other demographic information.

Both buyers put contracts on their respective homes after looking only twice.

We have always emphasized the power of the Internet to our clients. It is a integral part of our listing presentations.

Now we have some proof to back up our claims.

Take a look at our listings on our website: www.randywellsteam.com

I need help with my lender concerning HAMP and HAFA rules. What do I do?

The Wells Team is very fortunate to be part of The Norton Agency. Our Norton Agency broker, Krista Holloway, has taught and researched new federal programs to assist homeowners. In this email she gives us some guideance for us to share with our clients.


" Many of you are having challenges with several lending institutions not following HAFA guidelines. Because of this, I’ve researched whose responsibility it is to enforce this Federal program. The following are sites your clients/customers can visit to file official complaints against their lender. One caveat to this is…they MUST know what kind of loan they have and, in some cases, whether or not they are dealing with a national bank.



1. The MakingHomeAffordable helpline: 888-995-HOPE, they must request MHA help with their particular lender.

2. OCC (Office of the Controller of the Currency) Customer Assistance Group: www.occ.gov/customer.htm. This site has a complaint form that can be completed on line.

3. HUD at www.hud.gov or 800-569-4287 and ask to speak with a Foreclosure Avoidance Counselor.

4. U. S. Treasury Department (who initiated the HAFA Program) at 202-622-2000. Your client will probably be redirected to the HAFA Helpline. (See #1)



Unfortunately, the MakingHomeAffordable program is just that a program with “guidelines” not a law. However, the Federal Gov’t is “interested” in its success and will individually recognize and reprimand those lenders not following the guidelines IF THEY ARE MADE AWARE OF THE PROBLEM. In other words, the borrower must complain (I suggest in writing) in order to be heard. I hope this helps your clients."

If you have questions about short sales or preforeclosures give Barb and I a call. We have been involved with 15 short sale/foreclosure transactions!

www.randywellsteam.com

HAFA and HAMP, Federal Guidelines to Help Homebuyers in Trouble

In April 2010 the US Treasury Department implemented the HAFA (Home Affordable Foreclosure Alternative Program) and HAMP (Home Affordable Modification Program).

If homeowner is having problems making mortgage payments they need to contact their lending institution to discuss options.

One of the first questions the homeowner needs to ask the lender is if they have signed up for HAFA.

If the lender has signed up for HAFA then they have agreed to abide to federal guidelines in relation to a short sale.

Before the homeowner works under the HAFA program they need to have been considered for the HAMP program. The HAMP program is a loan modification program.

Confusing? It is not a complicated process but a process that takes time, research, and perseverance.

Bottom line: If you find yourself in a tough situation with your mortgage contact your lender.

Barb and Randy make up The Wells Team of The Norton Agency. We have been involved in 15 foreclosure/short sale transactions. We have undergone training in this real estate field and have the support of The Norton Agency.

Give us a call! We are here to help!

www.randywellsteam.com

Upgraded home in a golf course/Lake Lanier Community

http://homesite.obeo.com/600965

On the 16th hole of the Chestatee Golf Course

http://homesite.obeo.com/394798

Custom Built Home in Golf Course/Lake Lanier Community

http://homesite.obeo.com/382813

The Best Boat Slip in the Chestatee/Lake Lanier Community Marina

http://homesite.obeo.com/595646

What are you Looking at in your Next Home?

You are looking at houses. Over the weeks you have seen many of them and they start to look the same.

How do you remmember the difference? Stainless Steel appliances, Crown Molding in the Dining Room, nice furniture, or maybe a built in television.

If that is how you remember one house vs another you need to look at the houses in a different way.

What is the square footage of the home?

Does the floor plan work?

Is the driveway/lot acceptable?

How is the location?

How is the price compared to others in the neighborhood?

Is it propane, all electric, all gas or a combination?

What will HAVE to be done on the home ie, new air conditioner, new roof, new furnace, etc.

We have seen too many people get zoned into the superficial part of the home. We all like the latest upgardes when we find a home. Unfortunately this is not the case with a resale home.

Bottom line: Be realistic!

If we can help you find a home in the North Atlanta area please let us know.

We are The Wells Team of The Norton Agency. www.randywellsteam.com

What do you know About Short Sales?

You have seen the term on the television, internet, and in the newspaper. You read it but do you really understand what it means? Are you familiar with the acronyms FHMLC, HAMP, SAFE, and HAFA (just to name a few)?

This year we have seen a lot of regulatory changes in terms of the Short Sale. The Short Sale is an option for the homeowner prior to going into foreclosure.

The Norton Agency prides itself on the education of its agents.

Barb and Randy, of The Wells Team, have recently completed a class on Short Sales and Foreclosure properties. The class introduced some new laws that builds on our experience in this field.

The Wells Team has been involved in 15 Foreclousre/Short Sale Transactions.

If you find yourself in a situation where a short sale or foreclosure is being considered give us a call.

We are The Wells Team of The Norton Agency. With over $3 million in total sales in 2010 we continue to be successful in this crazy market.

Please see our website at www.randywellsteam.com

They were not interested in my home. Why was it shown?

Who is looking at my home today?

What do you know about these potential buyers?

Why did potential buyers look at my home when my did not suit their needs?

These are commom questions we receive from our sellers when it comes to the showing of their home.

What does The Wells Team do differently?

When we are first contacted by a buyer's agent we ask:

• Why this home?


• What is your client looking for in a home?


• Are you familiar with the neighborhood?

We then tell the buyers agent the attributes on the home, the neighborhood, and the local area. If the particular listing is in our neighborhood we discuss homeowner's dues, amenities, and any other questions they might have.

Even if we provide all of the information it might not guarantee results.

The buyer's agent is looking out for the best interest of their client. They can become hesitant to give too much information.

There are buyers who do not have an exact idea on the type of home they wish to purchase. These buyers have not purchased a home in many years. They are entering a different stage in life which makes their home priorities different. In other words they need to see what is available.

Ultimately the buyer's agent is the one expending all of the energy on behalf of his or her clients. It is in their best interest to do the necessary research on homes before they "waste their time" showing homes that do not fit their criteria.

As for our sellers: When we have the chance to show your property we need to do so. It can be inconvenient, frustrating, and might not give you the results you desire. However one thing is for certain: If we do not show your home then we know it will not sell.

If you are looking for property in the North Atlanta area, Lake Lanier, or the Norton Georgia Mountains, give us a call. We are The Wells Team of The Norton Agency.

http://www.randywellsteam.com/

Last week The Wells Team had a couple of days that all real estate agents would like to have: In a period of 48 hours we sold three homes!

Our sales reflected three different aspects of the market: Foreclosure, lake location, and price driven.

Throughout 2010 we have kept our clients informed about market conditions.

What have we seen from potential buyers?

1) Continued interest in foreclosures. Foreclosures continue to appear, are generally in good shape, and represent great value.

2)Lake location. Lake Lanier continues to be near full pool. There are a lot of properties available on the lake. The property priced well, with the "million dollar view", sells.

3) The well priced property. Price has been the consistent theme throughout 2010. As nice as our resales are ultimately price is what sells them.

The Wells Team has geen successful because of our market knowledge. Selling these three particular properties in two days backed up our market views.

If you are in the market to buy or sell a home in the North Atlanta Metro area, Lake Lanier, or the North Georgia Mountains, give us a call.

www.randywellsteam.com

Why Doesn't My Home Sell

As we go into the second half of the 2010 real estate market we have frustrated sellers who have the same question:

WHY DOESN'T MY HOME SELL?

The Wells Team spent some time talking to real estate acquaintances, and friends around the country. This includes the metro Atlanta area, Florida, and Nevada.

The answers are the same:

If you were priced too high at the beginning, the initial interest wears off, and the home sits.

A house that is not updated is at a serious disadvantage to other resales.

Foreclosures continue to appear. Their effect on the market to continues

Barb, Randy, and Sue, of the Wells Team, continue to emphasize these points to our clients. It is information that all of our clients need to know. It is not often well received but we owe it to them what they need to hear not what they want to hear.

If you find yourself in the North Metro Atlanta area give us a call. We are the area experts.

We are the Wells team of The Norton Agency.

www.randywellsteam.com

Lake Lanier Market Update

This is a short overview that we recently sent our clients.

As for Lake Lanier:

There are currently 370 properties for sale in the $250,000 to $700,000K range.

For the time period of January to May 2010 in the $250,000 to $700,000K range:

There were 67 homes sold with an average price of $389,303

There are 27 pending sales with an average price of $433,025

During the January to May 2010 time period for condos on Lake Lanier:

14 currently for sale with an average price of $173,150

13 sales with an average price of $232,015

Barb and I continue to see a large number of lake properties available. Eventhough the properties are not selling, the owners have not significantly lowered the prices. Most of them have no sense of urgency to sell. We do see the occasional foreclosure which gathers interest. Overall a slow market as the second home market remains flat.

IF YOU ARE LOOKING FOR LAKE LANIER EXPERTS TO SHOW YOUR PROPERTIES LOOK NO FURTHER. THE WELLS TEAM MEMBERS LIVE HERE! LET US HELP YOU FIND YOUR NEXT LAKE PROPERTY!

Check out our lake listings at www.randywellsteam.com

Chestatee Neighborhood, Dawsonville Ga, Market Update

We recently sent out this market update to our clients:

The summer is heating up bout our market seems to have cooled slightly.

We wanted to start with some recent statistics:

Here are the May statistics for Dawson County:

426 homes for sale throughout the county

24 sold in May

29 Pending (under contract but have not closed)

Dawson County has a 14.7 months of inventory.

The average home sits 110 days on the market.

When the home is sold it is receiving 93% of its current list price

Positive points about the preceding numbers:

The number of day that the average home is on the market has dropped 21.4%

The final price received has gone up 4.5%

Chestatee update: Barb and I have some clients that we are currently working with on homes in the neighborhood. At the same time other clients have disappeared. Some of them have grown nervous in the decline of the stock market, others appear to be on a different page then their significant other, and others cannot the find the "perfect house". Our phone calls from real estate agents has also decreased. The amount of activity at this time of year will also decrease slightly as summer vacations begin for most families.

There have been four recent sales in the neighborhood. All of them were foreclosures with prices ranging from $319,000 to $855,000. That portion of the market continues to intrigue buyers in search of the bargain. We have also seen three homes advertised for foreclosure in the newspaper. Unfortunately this continues to hurt all of you with your homes as we try to compete. Pricing pressures continues.

THE CHESTATEE NEIGHBORHOOD CONTINUES TO HAVE GREAT OPPORTUNITIES! IF YOU ARE INTERESTED IN THE ONLY GOLF COURSE/LAKE LANIER NEIGHBORHOOD GIVE US A CALL! BARB AND RANDY, OF THE WELLS TEAM, ARE BOTH 10 YEAR RESIDENTS OF THE NEIGHBORHOOD WHO HAVE RECORDED THE MOST RESALES!

GO TO OUR WEBSITE AND SEE OUR CHESTATEE LISTINGS: www.randywellsteam.com

I WANT IT ALL!

The last time I heard this line was from Willy Wonka and The Chocolate Factory! (Remember the scene?)

This is what The Wells Team is seeing with home buyers in the North Atlanta area.

There is very little new home inventory available. (The builders are gone).

The buyers are looking at the large amount of reslae inventory including foreclosures.

What are the comments?

"A lot of house for the money but the bathroom needs updating".

"Where is the granite in the kitchen"

"The Dining Room needs to be repainted".

"The entire home is outdated".

ENOUGH!

Here is the reality concerning resales and foreclosures.

Look at the price per square foot of the home. Compare the cost of buying the home or building the home with the latest bells and whistles.

The conclusion is obvious.

The Wells Team has homes that average under $100 per square foot. Compare that to the $135+ per square foot to build the same home new. Take the diffrerence in price and update the bathroom, kitchen, or both. You still come out ahead.

The deals are still there. They just involve a little extra work to give them your personal touch.

With that extra effort YES YOU CAN HAVE IT ALL!

The Listing interview: An inexact science

The Wells Team has had overall success in securing listings through our listing interviews!

However the way it ultimately happens is different from what we envisioned.

Here is how The Wells Team goes into a potential listing interview:

At least one day prior we leave a listing presentation with potential sellers. We ask them to read the information and be ready to ask questions.

We meet the sellers for the first time in their home. At this point we could be seeing the home for the first time. We take a tour, take diligent notes, ask questions about upgrades, repairs, utilites, and other pertinent information. After the tour we sit with the sellers, ask them what questions they have for us, and then cover other information that they had not asked previously.

We thank them for their time, have a team meeting to discuss pricing, and make an appiontment to visit them for a second time. At that time we are then ready to give them more exact information on pricing their home and working with us.

That is the way we envision it.

Now here is what happens:

We give the potential seller the listing presentation in advance. They might, or might not, look at the information.

We meet them for the first time and take a tour of the home. After the tour we are ready for their questions about marketing, and how we have achieved overall success in the industry. Instead we receive two questions. How much is my home worth? What is the commission cost and can we change that?
In most cases we have a price in mind for the home. We ask the ability to have a meeting among the team to discuss the home price, as well as, commission options for the seller.

What have we found? If we give the potential seller an immediate price for the home we receive different reactions. We were too blunt with the home price or we were not pricing the home aggresively enough. Either way we lose! The same goes for negotiations on the commissions. Different circumstances allow The Wells Team to discuss possible commission changes. This needs to be done among the team, in private, assessing all of the variables in order to give them options. If we do not have an immediate answer then we appear resistant to change.

Bottom line: There is not a winning solution. The sellers each look at the realtor/seller relationship differently. As well as we try to prepare we never know what to expect.

It is truly an inecxact science!

Market thoughts for the first four months of 2010.

Spring has hit us quickly in North Georgia with summer right around the corner.

Every real estate market is local and the Wells Team knows this market as well as anybody.

We saw a surge of lookers (drive bys) in Mid April. This group gave us some of the best open house results we had seen in a year. This group is pretty consistent in their home buying status. They will soon be emptynesters, retiring, or move back to the area to be with their family. Some return to work with us. Overall they procrastinate waiting for the perfect home to be found. They are a test of patience.

Those that buy now represent the "sharks". This group wants an upper end of foreclosure home with all the bells and whistles. They have circled knowing which ones are appearing. They strike quickly and land themselves a victim of a home!

Then our last group: Return customers who are looking for a home that does not exist, the price that does not exist, and with the intent of torturing themselves looking for perfect situation.

In other words the players are the same from last year.

However we state this fact our first four months of 2010 have far exceeded this time last year. We have gone from 0 closings in 2009 to 4 closings in 2010 with number 5 on the way!

Why the improvement? Working with long-term customers has finally paid dividends! The Wells Team has the patience, and the expertise, to eventually place our clients in their "dream home".

Conclusion: We believe the market will loosen up slightly the remainder of the year. Price will drive the sale of the home unless the home has that "extra special feature". Buyers still want to think that they are getting a deal. At the same time they are beginning to realize that there is not an unlimited supply of those deals available. If they continue to "snooze they will lose"!

As for our sellers: The market has not come back to "normal". If they bought their home in the last five years, and want to sell, do not expect to walk away with a large profit. If they do not need to sell we ask that they wait a while longer. If they are in a position that they need to sell they need to realize that the market dictates the price of their home instead of how they feel about their home. This can be a source of friction between the seller and The Wells Team.

The first four months have given The Wells Team an excuse for guarded optimism. However our expertise, and research, tells us to wait a while longer before beginning the celebration on the home market.

If we can help you in the North Atlanta area give us a call! We are The Wells Team of The Norton Agency. www.randywellsteam.com

SHOULD WE CHANGE OUR REAL ESTATE BUSINESS INTO A 501c NON PROFIT?

We have a dilemma on our hands? Do we change our real estate business into a non profit? We ask this question because we have recently been asked to cut our commission by 33% on a recent sale! This is in addition to the never ending request for real estate help requested by the
For Sale by Owners!

The Wells Team is not in the real estate business because we needed a hobby! This is how we make our living!

For some reason many people cannot make the same conclusion. As far as they are concerned we are a service they want to avoid using because of the commission. At the same time they have no problems asking us to use our limited free time to assist them in the selling of their For Sale by Owner property.

We also see no end in sight to the request to cut our commissions by 1 point which equates to a 33% overall commission cut!

Our marketing expenses, board dues, gas, desk fees, and marketing have not declined by 33%!

Simple conclusion: If we take the commission cuts that are requested and work for free, then why continue in the real estate business? A simple solution would be to ask for non profit status. At least we get a tax break!

FSBO vs LISTING WITH AN AGENT IN THIS MARKET!

Despite this tough real estate market we continue to meet sellers who want to sell their home themselves!

Why???

Their responses:

Your market analysis shows me that I have to price the home lower in order to sell!
I am not going to "give away" my home!
I can negotiate more effectively because I do not have to pay a commission!
I do not want to pay any commission to anybody!
We will put up a sign and come to show the property when we receive a phone call!
We will have an open house and sell it!

Here are a couple of points from The Wells Team

The market analysis shows the actual market in your neighborhood. You cannot change that by listing the home by yourself!
If you are "giving away" your home then you should strongly reconsider keeping your home off of the market. Again the market dictates the price of your home!
There is a very good chance that you will be working with a buyers agent. If you do then you will be obligated to pay them a commission for all of their work. How much will you actually save by not involving agents!
Are you really ready to show your home on a moments notice? What if you miss the call?
The percentages of selling your home at an open house are extremely small.

What The Wells Team is seeing in this market

Buyers are seeing the homes on the real estate websites
Buyers are working with agents to show them properties
Buyers that drive by our listings are not calling like the past. They pull a flyer and leave.
We have lower turnouts at our open houses
Buyers want to see more information about the home before they take a look.
What The Wells Team brings to the market
3 members who answer their phones 24/7!
Extensive internet marketing on all major real estate websites
Strong market analysis of your property to assist in pricing
Good working relationship with other agents
Redesign services to assist in marketing your property
Representation for you when working with a buyer

In the toughest market in recent history continues why would you want to do this yourself?

Give us a call!

The Wells Team of The Norton Agency

770-313-5792, 404-642-1968

www.randywellsteam.com

SPEND THE MONEY FOR A HOME INSPECTION!

There is nothing worse for The Wells Team that to receive this phone call: We are having _______ problem with that house you recently helped us purchase!
Our heart begins to race, the throat constricts, and sweat starts to form on the forehead.
Then we ask ourselves the following:
Did we encourage them to get a home inspection?
Did we give them multiple home inspectors to interview?
Did we suggest a home warranty?
Did we give our "home expertise" on home issues that we are not qualified to do so?
Why do our buyers worry about the price of a home inspection as a percentage of the purchase price of their home?
The Wells Team would make a couple of points when it comes to inspections:
Receive multiple names of qualified inspections.
Call each inspector and interview them.
Hire additional inspectors for specialty items, ie septic systems, pools, roofs
Purchase a home warranty keeping in mind that it does not cover every item. If you have a specialty item buy additional coverage.
Without a doubt this is the largest investment that you will make. It is a product with lots of parts, many that cannot be seen.
Take the time and money to have it looked at by home professionals. Do not rely on the real estate agent for advice on home systems.
If you find yourself in the Norton Atlanta Metro area give The Wells Team a call. We were #5 out of approximately 130 Norton Agency agents for 2009. With a combined 41 years in the area we truly are your neighbors!
Check out our website at http://www.randywellsteam.com/

2009 was an interesting year as you can imagine. Barb and I worked with a lot of great clients, fellow real estate agents, mortgage brokers, and attornies.

At the same time we encountered some individuals who were inclined to use some "flowery" phrases.

There were some phrases that were used so many times that we had to share them with you.

Some of our favorites:

"I am looking for a deal"

"I know what houses are going for in our neighborhood but my house is different"

"Last year my house was worth more"

"Why was my house appraised so low"

And our personal favorite

"I am not going to give my house away"

2010 will be just as interesting.

Give Barb or myself a call to help you with your real estate needs. We can also teach you some new phrases!

Norton Agency Real Estate Reality January 2010

The Norton Agency has just published its first edition of Norton Real Estate Reality for 2010. Frank Norton Jr, the President of the North Agency, compiles his monthly outlook on the Norton Georgia real estate market.

Here are some quotes from the latest edition:

"Buyers perceive the market to be worse than reality. They want to feel if they do buy....THEY'VE GOT TO GET A DEAL."

"Buyers are being very selective in most markets, but the National Affordability Index indicates it's the most home you can buy in the last 10 years."

"Today the core of the housing market is made up of highly motivated sellers...There is an over riding reason to risk a sale in this market...Relocation, Family growth/contraction, financial, health... In other words motivated sellers dominate the market. In most micro markets motivated sales are occuring at 2003/2004 prices."

"Inventory is dropping like a rock, new homes 66% from peak, and the foreclosure rate has dropped. By year end 2010 we project stable and rising home values."

"6 month or older valuations are no longer relevant. It's what selling today...Last week, last month that are the only real comparables."

Barb and I pride ourselves in our local knowledge. Let us help you with your real estate needs in the North Atlanta Metro Area.

If you would like a complete copy of this report just send us an email.

Randy and Barb

The Wells Team

The Norton Agency

http://www.randywellsteam.com/

Frank Norton Jr, the President of the Norton Agency, will give his annual forecast on January 21st at 6pm.

The Norton Agency has been involved in the real estate industry since 1928. After 80 plus years in the business the Norton Agency has had their hand on the pulse of North Georgia.

We encourage all of you to attend our annual forecast at the Georgia Mountain Center. If you cannot make it you can listen to it via simulcast on www.accessnorthga.com

The Wells Team prides itself on being part of the North Georgia community. After 5 years of being members of the Million Dollar Club we can say with confidence that we know real estate in the North Atlanta area. If Barb, Randy, or Sue can help you with your real estate needs please give us a call. Of course you can see all our information at www.randywellsteam.com

If you have any questions about the forecast do not hesitate to get in touch. See you next Thursday.

Randy 770-313-5792

Barb 404-642-1968

The Wells Team