October 2019

How Is AI Changing Real Estate?

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Whether you like it or not, AI (Artificial Intelligence) is changing our entire world. We use AI for everything from interacting with our cell phones to where our cars can drive themselves. So is Artificial Intelligence going to change the shape of the real estate industry? Yes, and in fact, it already has. So what is to come?

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AI Is Disrupting The Real Estate Industry

Almost everyone has heard of Zillow. So how have they changed things up with AI? Zestimates. Zestimates are an algorithm calculated value of your home. The algo uses data from public information, submitted data from users and takes into account things like current market conditions, location and home facts. Is it 100% correct – no, but it can be a good place to start gauging your properties value.

Check out what Adrian Fisher has to say about AI and Real Estate:

In the future, agents will no longer need to accompany clients to show a home, and clients can tour a property at their leisure. Agent-less showings will become more popular as AI-powered robots will be able to show clients around properties anytime and answer questions they may have.

In the future, consumers may prefer to do business with bots instead of real people. According to Salesforce, 69% of consumers prefer chatbots for quick communication with brands.

Zenplace, for example, is a company that offers consumers an AI-driven home tour experience. The startup developed a bot that comes with a tablet attached to a pole on wheels. It streams a live feed of a real estate agent who conducts the tour and steers the robot. This simulated robot increases the number of showings that realtors can hold within a day.

AI will enable buyers to view homes on their own, give feedback, and allow the agent to help clients decide why it may be a suitable property. Robots won’t take over, as a human touch will still be necessary. Instead, this technology will be helpful to agents that cover a lot of territory and have a busy showing schedule.

Read Adrian’s Full Article Here

So it looks like agents may be a thing of the past, or at least headed that way. In fact studies show that most home buyers now start their new home search online before even contacting an agent.

Do You Really Need A Real Estate Agent Now?

Things are really changing, and changing fast. In our opinion, sellers and buyers are tired of paying out so much cash for what most agents do, just list and put a property on the MLS (Multiple Listing Service).

Here is what G. Brian Davis from Bigger Pockets has to say about it:

Consider these questions: Does everyone need a real estate agent? Are the services that agents provide worth $10,000? How long are sellers going to continue spending that kind of money to list and sell a property?

Not much longer.

Services like Owners.com in the United States and Your Online Property Agent in the U.K. have started offering flat-fee services in the $400-1,000 range depending on how much extra attention and services you want. All services include an MLS listing, buyer funds verification and background check, property showings calendar and offer negotiation support. Premium services include local agent support, professionally written descriptions, sales contracts, and similar bells and whistles.

So what do sellers give up by using these services? The biggest difference is they would have to show the property themselves. But who can sell the house better than the people who live there?

Expect to see these online brokerages increasingly put the pressure on real estate agents.

Read Brian’s Full Article Here

So it really appears that the pressure is on agents, especially the ones that under perform. We all know somebody that has had some sort of horror story with a realtor.

Are Agents Going To Become Obsolete?

In our honest opinion, not any time in the near future. Agents do still provide a valuable service (well, at least some of them). There are sellers that don’t have a clue as to how to sell a home or even know where to begin.

Monica Nickelsburg makes this important point:

Real estate companies such as Zillow, Redfin, Opendoor, Compass, and others are investing heavily in the burgeoning “iBuyer” market that lets people quickly buy and sell homes online. Those transactions still require a real estate agent.

Read Monica’s Full Article Here

Summing It Up

So that’s just a little about how AI is changing the real estate industry. There are many more things that are coming and are on the horizon. One thing for sure, not as many people are going to have to rely as heavily on real estate agents as they use to.

If you have a house anywhere in Chamblee or the surrounding areas that you want to sell – give us a call! You don’t need an agent to sell to us. Just give us a call at (770) 756-8680 or check out our website to complete a brief form and we will contact you soon.

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This Will Make You Fall In Love With The Historic City Of Marietta

Marietta / By

Marietta Is A Fantastic Place To Live And Work!

Marietta is a fantastic city! Okay, we might be a little biased because it happens to be the headquarters for our company. But still, it is a beautiful place to live and work along with some amazing people.

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The City of Marietta, Georgia, is a full-service municipality that is located in central Cobb County, about 15 miles northwest of Atlanta, Georgia. Marietta has a distinguished and unique history and modern life style all rolled into one. With the city being only 23 square miles housing about 56,600 residents, it is one of Georgia’s most populous cities.

The most known landmark is The Big Chicken, it is a Kentucky Fried Chicken Restaurant. The Big Chicken was built in 1956 and is at the intersection of two main thoroughfares in Marietta being Cobb Parkway and Roswell Road. It is said that when you are not from the area and need directions to anywhere, everyone will say “From the Big Chicken you will go….”. This location also has a small museum about the history of KFC.

Marietta’s History

According to the City of Marietta’s website, the city was one of the first in the area to have early settlers prior to 1824. The Marietta Square, now known as Glover Park, was typical of an older towns design, including the courthouse being a center point of the square. In 1834 the Georgia General Assembly recognized Marietta as a community. The first bank in the town was opened in 1855. The city has seen its share of devastation also, in the 1850’s the town suffered mass damage by fire on three different instances. And in 1915 the National Guard was called in when the Governor gave an eleventh-hour commutation from death to life in prison to a suspected murderer of 13year old Mary Phagan. Leo Frank ended up being lynched on Roswell Road on August 17,1915.

Here is more from Wikipedia about Marietta:

Built-in 1838, the Oakton House is the oldest continuously occupied residence in Marietta. The original barn, milk house, smokehouse, and well house remain on the property. The spectacular gardens contain the boxwood parterre from the 1870s. Oakton served as Major General Loring’s headquarters during the Battle of Kennesaw Mountain in 1864.

Marietta was initially selected as the hub for the new Western and Atlantic Railroad, and business boomed. By 1838, roadbed and trestles had been built north of the city. However, in 1840, political wrangling stopped construction for a time. In 1842, the railroad’s new management decided to move the hub from Marietta to an area that would become Atlanta. Nonetheless, in 1850, when the railroad began operation, Marietta shared in the resulting prosperity.

Businessman and politician John Glover arrived in 1848. A popular figure, Glover was elected mayor when the city incorporated in 1852. Another early resident was Carey Cox, a physician, who promoted a “water cure”, which developed into a spa that attracted patients to the area. The Cobb County Medical Society recognizes him as the county’s first physician.

Read more about Marietta’s history here

Marietta Today

The National Civic League judged Marietta one of the 10 best communities in the nation as a 2006 All-America City, the oldest and most-respected community recognition award in the country. CNNMoney.com named Marietta one of the top 25 places in the United States to retire in 2011.

You can also learn much more about Marietta by visiting their website at https://www.mariettaga.gov/738/About-Marietta.

The city of Marietta Georgia is a very exciting and unique place to live and work! Marietta has so much going on you will never be bored and you will still have the “Small home town” feel. There is a park in the center of town called Glover Park also known as Marietta Square and it has hosted thousands of weddings and proms photographs. It also has a playground for the kids and concerts on weekends and almost every holiday. There are many restaurants and small shops on the Square. There is everything from beautiful old buildings, entertainment and new places to eat all within walking distance.

  • Brewery Tours & Tasting @ Red Hare Brewing
  • Brown Bag Lunch Concert Series
  • Marietta Street Fest
  • Earl and Rachel Smith Strand Theater
  • Marietta Fire Museum
  • Marietta Museum of History
  • Marietta Pilgrimage Christmas Home Tour
  • Marietta/Cobb Museum of Art
  • The William Root House Museum & Garden
  • Old Zion Baptist Church Heritage Museum

Marietta also offers plenty of interesting things to see and do that are all within minutes from the square such as;

  • Ghosts of Marietta
  • Historic Walking & Driving Tour
  • Marietta’s Black Heritage Walking Tour
  • Marietta Food Tours
  • Marietta Gone With the Wind Museum
  • Aviation Wing of Marietta
  • Marietta Confederate Cemetery
  • Marietta National Cemetery
  • Andretti Indoor Karting & Games

Marietta has a very diverse work force, there are many large companies that keep the ever growing area employed;

  • Cobb County School District
  • Tip Top Poultry
  • C. W. Matthews Contracting Co
  • WellStar Kennestone Hospital
  • Children’s Healthcare of Atlanta Training Grounds for Atlanta United
  • Franklin Gateway Sports Complex
  • Six Flags White Water Park

Check out this video that tells even more about this great city!

As you can see, Marietta has a lot to offer!

Moving to or from Marietta?

If you have a house in Marietta and are looking for a “we buy houses” company that will buy your house – we are the people to contact! Just check out our website to complete a brief form or call us anytime at (770) 756-8680. If you are looking for your dream home in Marietta, we can help you with that as well!

You can also click here to learn more about how we buy houses.

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Can You Sell Your Home Before The Mortgage Is Paid Off?

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Some homeowners often wonder how this works, how can you possibly sell your home while there is still a mortgage on it. It can be fairly simple, just like selling a car that you haven’t paid off yet. However, there are some things you need to take into account before deciding to sell.

First, you need to factor in the 5 year rule. If you bought your house within the last few years you may not be able to sell your home without bringing money to the closing table. New homeowners need to stay in their house for at least 5 years to make sure they don’t lose money when it comes time to sell. We know this isn’t always possible, especially when you have to transfer to another city because of your occupation. If your job is the case be sure and ask your employer if they can possibly help offset the costs of selling your home without any equity in it. Maybe they will, maybe they won’t – it doesn’t hurt to ask.

Steps To Take To Sell Your Mortgaged House

If you have been in the property for a few years and have to move the next thing to do is lose your emotional attachment to the property. We understand this can be difficult, especially if you like your house and are having to move because of work or some other reason. Investopedia has some good advice about this:

Once you decide to sell your home, it can be helpful to start thinking of yourself as a businessperson and a home seller, rather than as the home’s owner. By looking at the transaction from a purely financial perspective, you’ll distance yourself from the emotional aspects of selling the property that you’ve undoubtedly created many memories in.

Also, try to remember how you felt when you were shopping for that home. Most buyers will also be in an emotional state. If you can remember that you are selling not just a piece of property but also an image, the American Dream and a lifestyle, you’ll be more likely to put in the extra effort of staging and perhaps some minor remodeling to get top dollar for your home. These changes in appearance will not only help the sales price but also help you create that emotional distance because the home will look less familiar.

Read The Full Article Here

We can’t stress enough how important it is to distance yourself from the property. If you can, pack up a lot of your personal belongings, especially pictures to make it easier for a buyer to see the home as their own.

Contact Your Mortgage Company

If you plan on listing your home with an agent you should contact your mortgage company first to learn what your pay off amount will be. This will help you when it comes time to calculate what the house will bring on the market. It will also help the agent to know at what price point you need to be if you have been in the home for a short amount of time.

Lauren Perez gives some more important info from her article on Smart Asset:

If you’re thinking about selling your home, it’s best to contact your mortgage lender and ask for your current mortgage payoff amount. The amount you receive is generally valid for 10 to 30 days, before more interest accrues and changes the amount. Why does this matter? Knowing your outstanding loan balance will help you come up with a selling price. What’s more, you’ll need to use the money from your home sale to pay off your mortgage loan.

It’s also important to review your mortgage loan paperwork and look for due-on-sale clauses. Due-on-sale clauses protect lenders by requiring homeowners to pay their mortgage loan in full after selling their home or transferring their deed to someone else.

Read The Full Article Here

The due-on-sale clause is almost always in the loan paperwork now days. The lenders started putting that clause in to help them make more money. Basically it’s there so that if interest rates were to rise sharply they can collect more in interest from a new home owner.

What If You Are “Upside Down” In Your Mortgage?

This isn’t as common as it was a few years ago, but it does happen. As we discussed earlier if you have only been in the house a couple of years you won’t necessarily be upside down, you just won’t have enough equity to cover closing costs. However, some homeowners have multiple mortgages or HELOC’s (Home Equity Line Of Credit) that is maxed out. These sales can be a bit more difficult, especially if you don’t have the cash to cover these loans. So what do you do? A short sale.

SFGate explains perfectly what a short sale is:

In a short sale, the lender agrees to take less than it is owed and still clear the mortgage off of the books. Short sales can be complicated to set up and very time-consuming. While a law passed in July 2011 generally prevents your lender from coming after you for the short sale deficiency, it’s still a good idea to make sure that you won’t be held personally liable after the fact.

Read The Full Article Here

It’s great that the law was passed in 2011. However we have seen that short sales can take a long time, if they happen at all. For what ever reason the lender decides not to complete the short sale. If this is the case, unfortunately you may have to consider a Chapter 7 or 13 bankruptcy.

Summing It Up

Yes you can sell a house while there is still a mortgage on it. If you have been in the house for a long time – great, you shouldn’t have any problems. If you sell the traditional way with an agent you should have enough money for closing and might possibly walk away with some cash. If you have been in the home only a few years, or owe more than it is worth, it might be a little more difficult.

If you have a house and would like to sell it, we would love the opportunity to make you an offer. If you have only been in the house a few years, we probably won’t be able to make a deal. However, if you have been in it some time or the house needs some repairs – we probably can. Just reach out to us at (770) 756-8680 or visit our site to complete a brief form and we will get back to you soon.

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Are Home Buying Companies Legitimate?

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Do you own a home that you need to sell and are looking for a reputable we buy houses company? Well, you found them! We are Mandich Property Group and we are a local company that buys houses for cash and in any condition. You can get a free, no obligation offer by calling us at (770) 756-8680, or by visiting our website here to fill out a short form and we will get back in touch with you very soon. Now that that’s out of the way – on to the article 🙂

Are We Buy Houses Companies For Real?

Since it is a growing industry many people are asking, “how do the we buy houses companies work?”.  It’s pretty simple really, much more so than the real estate agent route with all the complicated paperwork. It is a legitimate business, but like with every other business there are scammers out there to worry about. One investment company that will not scam you is our company – Mandich Property Group, we are here to assist families like yours that may need or want to sale a home or property fast for a variety of reasons.

Selling Your Home To A We Buy Houses Company Isn’t For Every Seller

Selling your house to a cash buyer or investor might not be for everyone, you will need to weigh the pros and cons for your individual situation.Here is a piece of a great article that explains more:

When a seller chooses to work with a “We Buy Houses” company, it’s most often for one of two reasons: because they are in a financial position where they want to get cash fast or because they don’t want to take on the stress and burden of selling a house. That being said, We Buy Houses companies are not for every seller. It’s important to first evaluate what your needs are when it comes to selling a home before making the decision to sell on the market or sell to a company that buys houses.

Not all We Buy Houses companies are the same, many will operate in a very different way than others and, unfortunately, some will try to take advantage of sellers. That being said, make sure to do the necessary research beforehand and trust your gut! If anything ever feels off, make sure to get clarification.

Read the full article here

That last bit of information is very important! With every financial investment, especially large financial investments, you want to check out the company to make sure they are the best fit for you and that they are who they say they are. These days it’s much easier to check on the legitimacy of a company by simply searching for them on the web and looking at their reviews or finding them on social media.

We Buy Houses Companies Pay With Cash

There are benefits in selling to a cash buyer when you pick a reputable company such as Mandich Property Group. In this article by AdvisoryHQ it shows just a couple of the best benefits;

The primary benefit of using one of these services is that many of the companies that buy houses will offer to pay you in cash on the spot. You do not have to go through a realtor, deal with all the paperwork, or show the house, so it’s very convenient. Many of these businesses say, “We buy any house,” so even if your house isn’t in the best condition, it is likely that you will receive an offer.

Like anything else in the world, there are both ethical and unethical investors in this business, so it’s important for you to do your homework before choosing a service.

Read the full article here

It’s also important to add that when selling to a cash buying company you don’t have to worry about buyer mortgage contingencies. You also don’t have to be concerned about the buyer not even being able to get a loan making you wait for weeks, only to have to start the process all over again.

Is Selling To A Company That Buys Houses Right For You?

Selling a house is a big decision and there are many choices out there to get over whelmed with. It is true the investment route might not be the best fit for you. When discussing your situation with us if we think it is not the best way for you, we will tell you so. Because selling your house with a Realtor can take a long time and you may or may not get the asking price, this may be a good fit for your situation. Here is a short snippet from another article that gives a few more of the pros of selling your home to an investor:

Buyer financing: Unlike the traditional home sale, there is no waiting on buyer financing. Buyer financing can be a nightmare when lenders delay or slow down closing, sometimes forcing buyers to rescind their offers altogether. Most investors have cash to pay for your home, so this means no delays or hassle in relation to financing the purchase.

Creative Solutions: Because investors have the capital to buy your home with cash, they also have the ability to provide more unique solutions. For example, if you’re underwater on your mortgage, some investors will take over your mortgage altogether. Ask us about seller carry-back, and other flexible financing solutions.

Read the full article here

Summing It Up

Whether or not selling your home to an investor is totally up to you – and only you can decide in the end if it’s the best solution. You also need to use caution in who you choose to do business with, and do a little research on them. If you can’t find anything on the web about them, you might want to choose to deal with another company. Basically it is good to know who you are going to be working with.

We are a family run and operated investment company and we will do our very best to treat you right. We look forward to talking to you soon so reach out to us today and we will work hard to make the selling of your home as easy and painless as we possibly can. Call us today to get started 🙂

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We Buy Houses Pros And Cons

We Buy Houses / By

A lot of people often wonder how we buy houses works and the Pros and Cons of selling your home to a we buy houses company. In this short article we will cover a little of both the Pros and the Cons.

But first, if you have a property anywhere in the Metro Atlanta area that you would like to sell we would like the opportunity to make you a fair, no hassle, fast cash offer for your home in its present condition. No need to make any repairs, clean or worry about staging, we buy “as-is”. You can reach us at (770) 756-8680 or visit our main website to fill out a short questionnaire and we will get back in touch with you shortly. Now – on with the article 🙂

The real estate market, especially selling and buying residential property, has changed dramatically over the past few years. There’s no doubt you have seen signs on the side of the road or stapled to a telephone pole “We Buy Houses”. It’s actually becoming much more common for homeowners to sell their property without the aide of an agent and selling to some sort of investor.

If you are like a lot of homeowners you may have never dealt with this type of buyer before. So lets get into some of the Pros and Cons.

We Buy Houses Companies Pros

No Realtors And Lengthy Contracts

There are quite a few pros to selling your home to an investor. First you don’t have to go through the hassle of finding a good, reputable agent that can get your home sold in a reasonable amount of time. Without a listing that means no showings, which means no having to make your house spic and span and keeping it that way for potential buyers dropping by spur of the moment. In short, cutting out using an agent can cut down on your possible headaches considerably.

Selling As Is For Cash

An article from Forbes goes on to explain a few other benefits that a homeowner might enjoy when it comes to selling:

Selling “As Is” – Typically, investors offer to purchase a property “as is,” many times sight unseen. As a seller, that allows you to avoid any costly repairs that would normally be considered your financial responsibility.

Fast Closings – There are investors who can close within 7 days. How is that possible? Because the sale of the property is not reliant on approved financing, appraised values, home inspections, or the like; bypassing all of these steps expedites the process considerably.

Read The Full Article Here

One word of caution from the Forbes article is an investor that will purchase the property sight unseen. We find it very hard for any investor, whether local or IBuyer (learn more about IBuyers here) to purchase a property without inspecting it. We have seen that when they buy sight unseen their offers tend to be extremely low.

Probably the best benefit is being able to sell a property without having to worry about making any repairs or updates. Any one that has sold a property before knows what we are talking about. Not only do you have to be concerned with the repairs that you see need to be done, but a picky buyer and their inspector pick your house apart wanting all kinds of little things fixed or some sort of contingency.

Here is a quick video that explains in a little more depth the advantages of selling to an investor:

Cons

There are a couple of cons when it comes to selling your house to an investor or we buy houses company. It is not for every homeowner! If your house is in good to excellent condition and you have time to wait on a buyer, then most likely listing your home and selling with an agent is probably going to be best for you. Why? Because of price.

Price

An investor or company buys houses to make money. So you are not going to get top dollar for your home. Here’s a snippet of another article that backs that up:

Selling to a cash homebuying company is unlikely to get you the full market value of your home. Investors are taking a chance by buying your home as is, and the lack of costs to you (such as commissions and fees) will be factored into their offer.

Remember, too, that you’re being handed cash, often days or weeks after your initial contact. That convenience and speed will cost you.

Read The Full Article Here

It’s true that investors are taking on the risk. Anything could happen in the time from when they purchase the property to when its ready to sell and closed.

Scams

There are a lot of honest, reputable companies all across the lower 48 that want to buy your house. But yes, there are people out there waiting and wanting to take advantage of you. Here’s a snippet from WHNT that explains more:

  • Pay attention to suspicious advertising. Be wary of signs and solicitations that only include a phone number and no other details. If a business is legitimate, it will not try to hide information from you.
  • Do your research. Search for legitimate businesses that pay cash for homes using org as well as other review sites. Always read complaints and reviews on the business before you sign on the dotted line.
  • Never pay an upfront fee. A legitimate quick-sell business will not ask for you to pay any upfront fees.

Read The Full Article Here

You have got to make sure you are dealing with a reputable home buying company!

Summing It Up

There are some great benefits for a home owner to sell their property to a we buy houses company. Fast closings, no repairs and no agents or showings. The biggest con – you are not going to get full market value. As to how much of a percentage of full market value you will get will vary from company to company. Go ahead and contact several to get the best price as well as ensure that you are dealing with a reputable company and you should come out fine in the end.

Again, if you are anywhere in the Metro Atlanta area and want to sell, reach out to us at (770) 756-8680 anytime. If you are wondering more about how our process works, check out this article.

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