I’m sitting in my basement tonight with my nephew Nicholas watching a Little Feet concert on TV. Nicolas is 16 and hadn’t heard of Little Feet before and he loved them. Experiencing this really made me think of the old and the new. I thought about the good times gone and the good times to come. It was exciting turning a much younger person on to something old school to me. When I was his age I loved Little Feet. So for those of you that haven’t heard of Little Feet you should check them out! Or you will never understand the point of my closing sentences.

So what does this have to do with a real estate blog what so ever? Homebanc. Homebanc filed for bankruptcy this week and pretty much shut the doors. At one time Homebanc was the hottest mortgage company around and they dominated the Atlanta market. They bought life and energy to our market and pretty much ate every body’s lunch that tried to go toe to toe with them as far as mortgages’ went. They did business as a humble giant for years! They were a wonderful company to work with, as well as work for. I‘ve never had a better working relationship with any mortgage company. Homebanc treated my customers as royalty and gave great rates and service unmatched by anyone. I truly hate to see them go. I miss those days of quick easy approvals and on time closings.

You may ask what’s my point to this rambling blog? The older I get the more I love to see the old still being around (Little Feet)and I hate it when the old go away. I loved seeing Little Feet still kicking it. I wish Homebanc was still kicking it. As Little Feet sang “There’s a fat man in the bath tub…. I hear him moan…I hear him moan. It made me think of all my friends at Homebanc! So my friends you now have to put on your Sailing Shoes!! There’s life after Homebanc.

Good luck to all of you.

WHATS HOT!

PRICING DIRECTION: As predicted the market has softened and prices have adjusted downward over the last several months. Many are saying the fed’s will drop interest rates towards the end of the 3rd qtr 2007 to stimulate the housing market. But right now mortgage rates are moving up.

HOMES THAT ARE PRICED RIGHT: This isn’t the 2005 real estate boom times. Forget cocktail party chit-chat. If you want to sale your home you better price it right for the current market. Not what homes in your neighborhood sold for 12 months ago? Sellers have to look at all the recent sales in their market not just one sale that brought top dollar! You’ll most likely make up for any downward price adjustment you took when you purchase your new home in this market.

ONLINE HOME VALUE SITES: I’m finding most of these sites aren’t up to date in th3 Atlanta area. It’s a great starting point if your thinking about buying or selling a home. But if you want accurate information call a professional real estate agent.

HOME OFFICES: Very hot feature for a home. We’ll see an increase in two home offices being in demand. With more and more people working from home commute times and gas prices with keep home offices in demand. I’m seeing more home offices that have built-in cabinets and work areas just like a professional work place. Windows and exterior doors are a huge plus. People will also look for homes located near alternative work spaces that will bridge the home office with places that will charge hourly rentals or monthly fees allowing SOHO’s to meet clients in a professional environment offering technology and privacy.

CAVING: Man and women alike are requiring more dedicated spaces where projects, hobbies or just a place to chill without being disturbed.

DUEL SLEEPING AREAS IN MASTER BEDROOM: Snoring rooms. I’m not kidding here. You’ll see a big demand for these as more are being offered in upscale homes. Snoring rooms are secondary bedrooms or sleeping areas within the master bedroom. People will love these as they are an alternative to the couch or guest bedrooms.

MODULAR BUILDING: I’m surprised we haven’t seen more of this here in Atlanta already. With the rising cost of building a factory production home is the only alternative. Don’t think double wide when I say modular building. Factories will construct panels (A-B-C) for framing that can be used in many different floor plans. The panels will be shipped and deliver to the job site. These panels could have electrical junction boxes, switches and HV/AC heat ducts already installed. The benefits are huge because of cost and time reduction. Quality control will greatly be improved. When finished these homes will look just like an on site stick built homes

SUBSTAINED DESIGN: Sustainable Design is based on three areas; energy conservation, indoor air quality, and resource conversation. Natural forms of energy cannot be ignored any longer. Wind, solar and geo-thermal will be in high demand in the very near future!

CABINETS: Start mixing finishes and counter tops. It was only a short while back when all my clients started wanting granite and maple cabinets in there new home. I told all of my associates that this was going to date homes quicker than avocado appliances. Many of these people kept picking the same granite and cabinet colors. I now have buyer looking at homes saying they already look dated. Oh those millennium years.

HOME WIRING: Category 5 or above, data lines and multi line phones are very important in newer homes. Its must have!

HIGH DEMAND: Large kitchens, upgraded appliances, custom laundry rooms, basements or even better a finished basement, custom garages with industrial type flooring, highly finished screened in porch’s with fireplaces, stone patios, rear stairs, pools or room for pools, swim & tennis communities, public schools, custom wall and window treatments, brushed door handles and hinges, mixing different counter tops in the kitchen. Three + car garages, mixed stone, brick and heavy wood exteriors.

WHATS OUT!!

AS IS MARKETING: Buyers see this as a red flag. There is way too much competition out there. Don’t chase buyers away. Also don’t except a contract and inform the buyer their welcome to have a home inspection but you not willing to do anything. Let time take its course.

BUYER OR AGENT INCENTIVES: Free cars, gas credit vouchers, gourmet dinners and Plasma TV’s don’t sell homes anymore. Realistic pricing does!! Cut to the chase and drop the price if incentives are being considered! Agents chasing or steering their clients towards homes with these types of incentives are not looking after their clients best interest in some cases.

ENDLESS OPEN HOUSES: The OPEN HOUSE pendulum has swung the other way. Internet placement is essential. Only 1.5% of the homes in the nation sold because of an OPEN HOUSE. With gas being over $3.00 a gallon people don’t drive around looking at homes like they use to. Keep in mind they can surf the web for about $1.00 a day. Many agents are scared to be alone in an open house. It’s just a dinosaur marketing mentality. Home buyers have moved past OPEN HOUSES I’m just wondering when some sellers will?

FULL PRICE OFFERS: Not in this market. If a home is priced right for the market you can expect to see offers within 2.5% of the true market value. Don’t confuse buyer interest or lookers with a hard written contract from a willing and able buyer. Negotiate every contract presented to you till the buyer signs or walks.

FADING TRENDS BUYER TRENDS: Small bedrooms, lots of glass on upper kitchen cabinet doors, bowl shaped sinks that are mounted on top of a vanity, stainless steel appliances, granite counter tops are starting to fade, oversized front foyer staircases, 2 story great rooms, sponged wall painting, home remodeling projects not done to professional standards, drop ceilings in basements, any brass fixtures or brass shower frames, wall paper, painting old kitchen cabinets, bamboo or laminate flooring.

Cobb Energy Performing Arts Centre is scheduled to open September 15 2007. This has turned out to be a beautiful modern performance building and is going to enhance Cobb’s Platinum Triangle tremendously. The presents of this building should generate a lot of synergy for future projects in this area.

The Cobb Energy Performing Arts Center will cost $145 million to build. It will hold premier opera’s, concerts, Broadway Shows, ballets, education and family shows, corporate meetings and events.

The breath-taking facility will include the 2700 seat John A Williams Theater and a 10,000 sq ft ballroom, 9500 sq ft Courtyard, 3100 sq ft Terrace and 1700 parking spaces.

I drove by the Cobb Energy Performing Arts Centre a few days ago and all I could say was, Wow!! The Cumberland Mall and Cobb Galleria Area has a very bright future ahead of it.

The Marietta Square Farmers Market is about to open in just a few weeks. Vendors are now being solicited. The market will open May 5th and will take place every Saturday through September 1st. The Marietta Square Farmers Market will be located in the parking lot at the corner of Church and Hansell streets in Marietta.

I’m very excited about having a local farmers market with fresh Georgia grown vegetables, fruits, herbs, flowers, garlic, cheeses, and mushrooms! My hometown of Roanoke Virginia has a farmers market located in the downtown area. I used to work in the middle of Roanokes’ City Market area for several years in a family business. It was a wonderful street on Saturday. It was filled with people that were squeezing, smelling and thumping things they were considering to buy and eat. Most of the farmers would tell you “tats a goodin” then spit tobacco on the ground. I grew up thinking that’s how you bought produce. If they didn’t spit tobacco their produce usually wasn’t worth cow manure. Many of the farmers were characters and very funny people. I liked buying from Mr. Wertz’s stand; he also had pretty daughters that worked on Saturday’s.

My wife Sarah May, loves fresh vegetables. She cooks most of them with fatback her mother hauls across two state lines. She currently goes to a produce stand she found last year in West Cobb. She pulls up front and this gentleman farmer puts her in a golf cart and off they go into the garden to pick what she wants. I think this elder farmer has a crush on my wife as he’s always slipping her an extra tomato all the time.

There’s just something about a farmer that has always interested me. My friends laugh when I tell them I’d love to have a farm. All my farmer friends bend over hysterical when I mention I want a farm. But don’t be surprised if one day I have a stand in the Marietta Square Farmers Market. I couldn’t think of a better life after real estate other than working the land, selling my harvest and slipping pretty girls extra tomatoes.