Architectural Styles-EXTERIOR

A buyer often has a picture in mind when they start the search for a new home. And while they might not be able to articulate the differences between a European style versus a French Provincial style home, or a Bungalow versus a Craftsman, it’s a time-saver when their agent can pinpoint the style they want.


TO SEE ALL OF THE DIFFERENT EXTERIOR ARCHITECTURAL STYLES CLICK HERE!

Architectural Features-ROOF

A roof is a key structural and protective element of a house, but it also contributes significantly to the house’s style.

Gable: A Gable roof is one of the most common roof styles, and features two sloped planes that meet at an elevated point. The gable is the triangular area beneath the sloped roof that follows the roofline. A Front Gable roof has the front door positioned beneath this triangular area, and a Side Gable Roof has the front door beneath one of the sloping roof sides. Gable roofs are common to Center Hall Colonial homes (the 5-4-and-a-Door style common in 1970-1990 construction).

Cross Gable: When two or more gable rooflines come together, the resulting style is Cross Gable. When a home maintains a solely rectangular shape, the gable roofline will be a single gable. With an addition or exterior protrusion (such as a porch or deck) from this rectangular shape is present, the result is usually a Cross Gable roof.

Gambrel: The Gambrel roof is the distinguishing characteristic of a Dutch Colonial home; this sectioned, sloping roof style is often common in barns.

Hipped: Hipped roofs have four sloping panes, and are common to French Provincial style homes. They are also used as a differentiating feature on Center Hall Colonial homes (the 5-4-and-a-Door style common in 1970-1990 construction).

Mansard: Mansard roofs have a flat, rectangular top section flanked by four deeply sloping sides. Mansard roofs sometimes encase not only the attic area of a home, but the deeply sloping sides of some Mansard roofs serve as the actual exterior of the second floor, with windows installed into the Mansard roof just as they would be installed into an exterior wall.

Pavilion-Hipped: Similar to the actual point and sloping sides of a canopy top, a Pavilion-Hipped roof features four deeply sloping sides that meet at a distinct point at the top of the roofline. They are commonly used on smaller sreuctures outside a home, such as a detached garage, pool house, or shed.

Saltbox: A Saltbox roofline is a gabled roof that tops a colonial home that is two-stories high at the front of the house, and one-story high at the rear. Due to the different heights of the front and rear of the home, the two roof planes have different angles and different lengths.

This article is based on research from numerous sources, including but not limited to: REALTOR.org®, WindowAndDoor.com, JackieCraven.com, Architecture.About.com, CalFinder.com, Roof101.com, RealtorBenefitsProgram.org, GuideToColumns.com, bhg.com.

See all of the architectural features on my website.

Architectural Features-WINDOWS

A home’s windows provide not just ventilation, insulation, and protection from the elements, a window actually frames your view of the world outside. Look over the list below, and you’ll never confuse a bow and a box bay window again.

Bay: Bay windows extend out from the side of a house, and typically feature 2 angled windows flanking a center window that’s parallel to the exterior wall of the house. A Bay window visually extends the space of a room and the elevated nook created at the base of the Bay window is often used as a window seat, adding to the charm and functionality of a room.

Bow: Similar to Bay windows, a Bow window extends from the side of a house but in a curved shape, different from the angular shape of a Bay window. The elevated nook of a Bow window is often used as a window seat, similar to a Bay window, but the costs of a Bow window are typically higher than that of a Bay window, due to the additional work required to create the curved shape.

Box Bay: Box Bay windows extend out from the side of a house, but are a square or rectangular shape with all 90 degree angles. These windows are often used above a kitchen sink, or anywhere an additional surface would be useful.

Casement: Casement windows are mainstays of both contemporary and traditional homes. Casement windows are hinged on one side of the window frame and open from that hinged side, similar to a door. In a traditional home a casement window typically features a multi-grid pane, and in a contemporary home a casement will typically have no grids.

Double-Hung and Single-Hung: These are the most common windows, with two separate window sashes that divide the window horizontally. They open up-and-down and while the Double-Hung window features two movable sashes, a Single-Hung window has only one movable sash (usually the bottom sash). Grids are sometimes used in these windows.

Oriel: You’re not likely to run into an Oriel window unless you deal with older homes. Oriel windows were used in Victorian and Tudor homes, and are located only on the second or third floors of a home. They are smaller in scale than the Bay window, and the brackets and supports underneath the window are worked into the style.

Paired: Paired windows are two separate windows set together so the two windows make one larger window opening. They are frequently topped with a larger arched (or Palladian) window to further the feel of one larger window. Paired windows are frequently called double windows.

Palladian: Palladian windows are a mainstay of traditional homes, where they are used to provide a focal point and a feeling of grandeur. They are often used in 2-story foyers or other high-ceilinged spaces. Palladian windows are named after Andrea Palladio, the 16th century Italian architect who used this window design extensively.

Ribbon: Ribbon windows are a series of identical windows installed together in a single run. They frequently called triple or quad windows, depending on the number of windows in the run, and are popular in new construction. Ribbon windows often are used to bring more light to a room, or highlight an expansive view. When Ribbon windows are installed near a ceiling – usually in a high-ceilinged space – they are called Clerestory windows.

This article is based on research from numerous sources, including but not limited to: REALTOR.org®, WindowAndDoor.com, JackieCraven.com, Architecture.About.com, CalFinder.com, Roof101.com, RealtorBenefitsProgram.org, GuideToColumns.com, bhg.com.

See my entire list of architectural featurs on my website.

Architectural Features-COLUMNS

Columns were first used as a necessary structural element, and eventually evolved into a decorative accent as well. Today, columns are used on interiors and exteriors, and their purpose is often decorative. A column is divided into three section, the base (bottom), shaft (middle), and capital (top). The decorative characteristics of these three sections determine the style of the column.

Corinthian: Corinthian columns were commonly used by the ancient Romans, and are often present in a large-scale, grandiose interior or exterior. The capital of the column features two rows of acanthus leaves, which are topped by four spirals over the leaves.

Doric: Doric columns are much simpler in style than Corinthian columns, with a simple, curved shape on the capital. The main ornamentation on a Doric column is the fluted shaft. Doric columns were favored by the ancient Greeks.

Ionic: Ionic columns have capitals with two distinct spirals. This style was used by both the ancient Greeks and ancient Romans, with the Greeks preferring a fluted shaft and the Romans preferring a smooth one.

Romanesque: Romanesque columns are also known as Norman columns, and feature a very simple curved capital, and a smooth shaft that is the same width at the top of the column as at the bottom. These columns are typically used in exteriors, especially in a garden/landscape setting.

This article is based on research from numerous sources, including but not limited to: REALTOR.org®, WindowAndDoor.com, JackieCraven.com, Architecture.About.com, CalFinder.com, Roof101.com, RealtorBenefitsProgram.org, GuideToColumns.com, bhg.com.


See my entire list of architectural features on my website.

What drives property values in Metro Atlanta

Different things drive property values in an extremely populated city it may be parking, on the coast it may be water access, and in the mountains it may be views. But what about Atlanta? It has none of these characteristics, but has been a popular relocation since the 1996 Summer Olympics. Cost of living has played a huge part, but what are some of the key items that drive values here? Let's take a look:

Location, Location, Location
Inside the Perimeter of I-285 (ITP as its commonly called) is where you will find some very pricey real estate. Outside of the perimeter prices as a whole tend to drop the further away you travel from the city. Commute times in Georgia are some of the worst in the country so shaving minutes off the commute (and adding them to your life!) is definitely a reason to pay a premium.

Retail
An abundance or lack thereof can skew property values in the surrounding suburbs. Areas like Douglas and Clayton County, that enjoyed an increase of new construction when in-town prices started to rise in early 2002, found themselves stagnant when no substantial retail was added to cater to all of the new residents who found themselves traveling back from whence they came to shop and be entertained. Cities like Alpharetta, Lawrenceville, and Marietta offered it's new residents plenty (and still growing) of retail establishments like The Avenues that made it easier to stay put for what they wanted.

School Systems
While Georgia ranks low on the national scale for academics, when families look to relocate here school districts are priority #1. However, even if you don't have kids and you're looking to move to an Atlanta suburb, I suggest locating a property in one of the top school districts. The property values there have sustained since I've been in the business and always will due to the amount of tax dollars poured into the infrastructure surrounding them.

Inventory
Lack of supply of homes in an area will correlate to a high demand and therefore high price. Some affluent areas like Buckhead, outside of their popularity, are able to sustain values there because there is never a glut of homes on the market. So when they become available, they can command and often get top dollar. This also holds true to suburban areas as well.

Magazine Articles
Suwanee saw it's property values stay somewhat stable after the values began to decline in late 2006 when it was named #10 of the top 100 places to live in Money Magazine in 2007. Sandy Springs is up next after being identified as one of the most affluent communities in the US in 2010.

Demographics
While most counties are fairly ethnically diverse, similar income brackets tend to populate the same areas. With that being said buyers, like to seek neighborhoods with neighbors that are either in their income bracket or above. Age plays a big role as seniors tend to prefer more established areas like Virginia Highlands, Dunwoody,and North Atlanta. 30 somethings tend to split between family friendly areas and up & coming / revitalized / progressive areas like midtown, City of Decatur, Grant Park, and Washington Park. Here's a video tour of the latest of 3 listings I've had in Washington Park listing I have in Washington Park.

Myths about short sales

The term short sale has become a term that has almost become a household name. There are a ton of questions and myths about short sales from the buyers side of whether or not to purchase one. On the seller's side they range from why you should and why you cannot do a short sale. I'll address the most common myths I come across when buyers and sellers inquire more about the infamous short sale.

FROM THE BUYER'S SIDE
"Short sales can't close quickly, they can take months to close!"
This is a true statement on an unapproved short sale. If the seller's lender hasn't approved a short sale then there are numerous steps and paperwork that must be completed before selling the home at the short sale price is even possible. However, once the short sale has been approved, the transaction can be closed in 7-45 days. If you're under a time constraint only pursue APPROVED short sales.

"Banks will forgive the difference."
I have personally yet to see this happen. Most banks will want some form of repayment or some form of distributing the loss that they agree to take. One popular method is giving the seller a 1099 for the loss whereas the seller would have to claim the loss as income the following year and pay taxes on it. You should definitely consult a CPA on how to make this a viable option.

"Banks will come after you for the difference"
Within the last few months this is becoming a more true statement. Banks do not file judgments on borrowers as they did in the past. What they are doing is installing lingo in the short sale approval that allows them to collect the difference. This practice is frowned upon by the government and as of February 2010, there have been moves to abolish this practice.

"You have to be late on your mortgage to be considered for a short sale"
Untrue until recently. I have personally closed short sales when the mortgage was not delinquent. In these cases there MUST be a current or upcoming financial hardship along with a decrease in property value to prove to the bank that a short sale is the best option. Some banks that service your loan do have investors that will not consider the short sale if you are current.

FROM THE SELLER'S SIDE
"I can do a short sale on my own"
Even your lender will advise against this. Most lenders want your home to be marketed up to 90 days and even an offer to purchase the home prior to reviewing the file for short sale consideration. Lenders even require activity reports, market research on sales in the area, and other information that only a realtor would have instant access to.

"Buyers don't want to buy a short sale"
Untrue. If buyers see value, they will want to buy the home. The exception is if the short sale is not approved yet and cannot close within 60 days. Most buyers actively looking at homes are looking to close anywhere from 2 weeks to 45 days. The problem usually lies within their real estate agent (did I just say that?) Most agents see the reduced commission and the uncertainty of when the deal will close as an automatic red flag. But to their credit, you do have many unskilled agents attempting to perform a short sale on the sellers behalf causing drawn out and sometimes failed transactions. If this is indeed the case, a buyer's agent would not lead a buyer into such an uncertain situation.

Myths about buying foreclosures

Now more than ever it is hard to look for a home in any area or price point and not come across a foreclosure. These REO (real estate owned) properties are everywhere and ready to be purchased. Just like any other type of home for sale, some of them are over priced, some of them are deals, and others are steals! However, as more owner-occupants purchase these homes some of the myths surrounding them are beginning to wane. Here are the myths I hear the most frequently:

Banks don't pay closing costs
Only when you are paying cash will you run into a bank that may be unwilling to pay any of your closing costs. But if you're paying cash $500-$1,700 is chump change right! Banks will pay up to 3% towards a buyers closing costs and some Fannie Mae properties will contribute up to 6% on FHA loans.

Banks don't do repairs
Foreclosures are sold "AS-IS." Banks usually will not do any repairs that are the result of a home inspection. However, banks may consider repairs that are required by your lender such as FHA repairs. Banks will do these because they know that any buyer that is interested will need these repairs done because their lender will require them. You may even be able to get a bank to do a termite treatment if active termite infestation is discovered by the inspector or appraiser.

Banks won't pay for home warranties
Untrue! Banks will usually pay up to $500 for a home warranty. Just because it says no warranties doesn't mean you can't get an after-market warranty.
Properties are sold with no EXISTING warranties on what is currently in the property.

All foreclosures are run-down and need repairs
All foreclosures are not alike! You do have more that need cosmetic work at the minimum, however, it is not uncommon to find an REO property that was well maintained. Some lenders now spruce up the property before listing it, installing new carpet, flooring, paint, and light fixtures to command a higher asking price.

Investors get the best deals
Cash buyers will always get the best deals because the though of closing in 4-7 days versus 30-45 days is appealing to any seller--bank or human. However, some foreclosures (like HUD homes) require a 2-week period where owner-occupants are given the opportunity to vie for the property. If no acceptable bids are submitted the seller will then review the investor offers. This is why it's important to run the numbers and know the value and not low-ball with unrealistic offers.

Landlord Do's and Dont's

With the housing market finally seeing the end of plummeting prices, the window of opportunity is wide open for those who have restrained from buying during the dive (i.e. cash investors)to now establish themselves as property kings if they want to flip and become property kingpins if they buy and hold. There is a better long term opportunity to secure solid, profitable rental property and then sell it in 5-7 years when property values eventually increase. But what if you don't have all cash or even 20% to put down on an investment property? You can still take your shot at property profits by utilizing your current home. Here are some viable candidates:

* Leasing your vacant home that you can't sell right now
* Leasing your current home and moving into the city
* Leasing your current home and moving into the suburbs(who does that?)
* Leasing your house out-of-state home and relocating (to Metro Atlanta I hope!)

HERE ARE THE DO'S
Advertise your property on any listing website you can get your property on for free. However, in my experience the yard signs and directional signs will generate the most calls on rental properties.

To begin utilize a realtor or property management company to procure the tenant. Any prospective tenant who's chosen representation to locate a place is usually more dependable.

Use a thorough rental application AND VERIFY THE INFORMATION. You cannot take the first person that comes along with a security deposit because you are desperate! I personally like citicredit.net. However, I still recommend verifying the employment personally if you aren't using representation.

Charge an application fee to cover the rental application. Apartment complexes do this and so should you. Again, this will weed out a lot of bad tenants.

Get names and ages of all intended occupants and run background checks on anyone over 18 years old. An old game is for a grandmother to rent a house, have a son or daughter, or grandchild (grandmothers aren't as old as they used to be!) on the lease as an occupant and never actually move-in. So now the individual has free reign, they're listed on lease, but no liability. Also, you may have a home full of adults in which case EVERYONE needs to be on the lease and you definitely want to increase accordingly and within your states landlord tenant laws.

I personally recommend interviewing the prospective tenant after they pass the application process and getting a gut-feeling if you think they are genuine. Now if you're utilizing a property management company this will be unnecessary, but if you will be the point of contact, this is a MANDATORY step.

HERE ARE THE DONT'S
Rent to someone you know closely. In my opinion, it's easier to be a firm landlord with someone you have no emotional ties to. You will hear every story in the book and you have to be immune to it to not breed bad tenant habits. Tenants will only try what they think you will let them get away with.

Entertain any offers online that solicit you offering more than asking price, renting to anyone outside of the US, or offering to send you funds to deposit. THESE ARE ALL SCAMS!!!

Include any personal items outside of appliances in the lease unless you are holding a separate deposit.

The biggest don't for any landlord is to lease your property without a sufficient security deposit. 99% of the time it will come back and burn you.

In-Town vs. The Suburbs

I have clients from out of state and current residents that are split down the middle about going ITP (inside the perimeter of I-285 for all non-Georgia dwellers) versus moving out to the suburbs due to the decrease in home prices making it possible to live in the city. Here is my hit (or miss) guide for deciding where you should move to:

If public schools are a concern you should move to the suburbs. Mainly Gwinnett (where I reside) and Cobb County. Private schools and Montessori's vary in either area. Even surrounding counties like Henry have some noteworthy school districts.

If you want to have great retail establishments it's a toss up. Gwinnett has a ton of newer retail along with three malls Discover Mills, Gwinnett Place, and the Mall of Georgia. In-town gives you Lenox Mall, North Dekalb Mall, and Atlantic Station which is sort of a mall with more of a feel of shopping in downtown Chicago or Washington D.C.

Sporting Events by far are more plentiful in the city. While Gwinnett has the Gwinnett Arena and the Gwinnett Braves stadium they cannot compare to the GA Dome, Phillips Arena and Turner Field. But if it's racing you crave then the suburbs will call you-offering Atlanta Motor Speedway in Clayton County and Road Atanta in Gwinnett County.

Commuting is definitely a win in-town because of the use of Marta and surface street traffic not as bad as any of the major interstates. But if you're self employed or you can tele-work then this wouldn't be as much of a factor.

Nightlife is BARELY a win for in-town only because more and more night clubs are finding their way outside of the perimeter for various reasons. But still if you like pubs, tapas spots, salsa dancing, and lounges.....it's the city hands-down.

Crime is a concern throughout the metro Atlanta area, but more so in the city because of the mix of housing. It is very likely to have a street of $500K+ homes on same block or a street over from abandon homes and drug houses. Old Fourth Ward is probably the best example I can think of off the top of my head. Violent crimes are higher in-town, but home invasions and undercover drug houses and brothels are very prevalent in the suburbs.

When it comes to cost of living-mainly gas prices, groceries, and property TAXES, the suburbs win again. The City of Decatur has the highest property taxes in the state followed by Fulton County and Dekalb County--all located (mostly) inside the perimeter.

Ultimately, you have to assess your personal needs and plans to decide which is best, but in today's current real estate market your wallet will not affect your decision as much!!!

Flip that house?

With the new changes in guidelines of sellers needing to own a property for 90 days before FHA will finance has investors looking to get back to the days of flipping rather than holding. Flipping is always attractive because of the quick income. HGTV made numerous shows based on people buying, renovating, and selling homes for a profit!!! I've represented numerous investors who buy beat up homes, make them beautiful, and they re-sell them at a tidy profit--preferrably within 2-4 months. I posted the most recent flip here done in Washington Park on a duplex-- we're in negotiations to buy another on the same street. But knowing how to use the right contractors and lose your shirt is an art within itself! You can eat into most if not all of your profits if you are not careful!!!

Buying and holding was always my personal preference for the tax write off, but not everyone is cut out to be a landlord! Even with property management companies in place, not buying the right home at the right price can cause you to hemmorage money monthly. But in this market, there are alot of unsaleable homes being leased and with the interest rates low, fair market rent is in the toilet! So you may get a good rental property, but you'll need to get it at a GREAT price to compensate for the rents that you'll be able to reasonably collect.

The same pitfalls of flipping from years past are still the same. A nationwide change is that now if you're financing an investment property you're going to need a minimum of 20-25% to put down. Gone are the days of 100% non-owner occupied properties!!! The big change in the Metro Atlanta area is theivery of the copper plumbing, light fixtures, appliances, and the infamous A/C units!!! Even when caged these units can be stripped for the interior metals or some theives just remove the cage!!! I honestly think rouge contractors are stealing these as there is no why the 'common theif' has the tools to pull this off! Vandalism is at a fever pitch on vacant homes. My listing in 30314 has a VPS system installed to deter anyone even thinking of getting in this house!

I'd definitely recommend buying and holding for novice investors, because it allows you time to heal your wounds if you over pay or under estimate costs of repairs. In this market it's hard to overpay but it happens everyday!!!