JIM BOWEN
First United Realty
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JIM BOWEN

Whether you're a first-time home buyer in search of your dream home, a seller looking to downsize or an investor looking for a great opportunity, working with a dedicated real estate professional can make all the difference.

I deliver unmatched customer service, and my genuine desire to see your property goals come true makes me the go-to resource for all your real estate needs. For sellers, I take full advantage of Coldwell Banker's® marketing tools to ensure that your property is broadly promoted on a variety of channels, including major real estate websites, and my negotiation skills are second to none. For buyers, I effectively analyze the local market and target trends to help you find the perfect home at the right price.

If you're looking for a positive, helpful partner who is ready to provide you with exceptional service, let's talk today!

Industry News of Importance to my Client

 Summer Prices on Atlanta Area Houses have Increased 14%

 

Our office Associates are out with clients every day and we see multiple offer situations on most everything. It's crazy!

If you ever thought about selling, now is the time. Having been active in this industry since 1982, I can't tell you of a better time to sell a residential property.

Interest rates are very, very low, and inventory levels of available homes is also low. This yields the best time to sell.

This is the best time this century has seen so far in the Atlanta marketplace. Need to know more, call me.

I can show you neighborhood after neighborhood that is seeing sizeable gains in equity. I'm sure yours does too!

I know you have questions.  I can help you find the answers you need to make a sensible decision.  

As a former senior analyst for Coldwell Banker, call me today or text me at 404-273-7653. You can also email me at my client email: AtlantaREaltor@yahoo.com.

In any event, it is always a good time to be informed about your home’s value.

 

How Does The Federal Reserve Interest Rate Cut Impact Mortgage Rates?

 

The U.S. Federal Reserve called for an emergency interest rate cut of 25 basis points to a range of 0-0.25 percent and $500 billion round of quantitative easing — including the purchase of $200 billion in mortgage-backed securities. 

“Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability,” the U.S. Federal Reserve’s Open Market Committee said in a statement. “The effects of the coronavirus will weigh on economic activity in the near term and pose risks to the economic outlook.”  

“In light of these developments, the Committee decided to lower the target range for the federal funds rate to 0 to 0.25 percent. The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.”

Danielle Hale, the chief economist at Realtor.com, believes the Fed’s move could bring mortgage rates back down to the historic lows they were two weeks ago. 

“Lower rates will sustain the higher demand for refinances and may entice home buyers out to shop as well,” Hale said. “By acting swiftly to tamp rates down and pledging ongoing support, the Fed may have ‘flattened the curve’ in the housing market — diminishing some of the urgency households may have felt to buy or refinance now less they miss out and keeping demand strong further into the future.”  

Mortgage rates and home affordability, however, aren’t the only challenges the market faces, according to Hale.  

“A lack of options continues to be the main hurdle for buyers, and the ongoing and developing economic disruptions seem likely to slow down the supply of new homes, a disappointment after their bright start to the year,” Hale said.

Check out my Latest Book!

 

 

Covid-19 has taken a toll on the use of everyone's time. People work from home, while others stay home for lack of unemployment. It has certainly made a change in the real estate industry as the second quarter was rather slow. However, with safety personal protection equipment added to a Realtor's showing protocol, homes have been selling like crazy.

Because the industry has seen many firms pitching "quick offers" or "guaranteed offers" many home sellers were talked into giving up a good amount of equity. By following a few simple guidelines and doing some simple upgrades, a Seller can realize another 8-10% in their pocket.

Whereas some sellers feel that these firms are saving them the cost of brokerage fees and necessary repairs, these companies charge as high as 7% as a re-marketing fee or resale fee. What they are going to do is take your property, minimally fix it up, and put it back on the market typically 10-13% higher than when they bought it. Let's take a look:

 

House valued at $250-280 in a standard neighborhood.

Quick Offer company offers the Seller $230 sharing concerns over the HVAC, Roof, and flooring - They share that all that costs $25K, plus an additional 7% in other costs for labor, cleanup, permits, etc. 

Now at $230K the company does a new roof ($8000), a new HVAC system ($4500) and new builder grade carpet  ($3000), new paint ($2000) for a total of $17,500.  So we have:

$230 Home Sales Price

$  17.5 K in repairs

Back on the market at  $280K less the $247.5K yields the Quick Offer company a nice profit of $24,000+ even after paying 3% to the Buyer's Broker.

To help my clients, I took some time and completed my second book "Secrets Every Home Seller Needs To Know". When you are getting ready to sell, call me and let me give you a copy of this book.

It features tips and tactics on rehabbing and upgrading as well as what to consider when getting an offer on your home. I've included several ways to let Home Depot or Lowes help you finance upgrades.

Text me at 404-273-7653 or email me at AtlantaRealtor@yahoo.com to see how to get your copy of this book. My last book, "Secrets of Wealthy Home Sellers", went over quite well.