Author Archive
Gwinnett Tweet Up at Marlow’s in Duluth on May 20th
Posted By Matt Fagioli on May 8th, 2009
Hope you can stop by and hang out with us for a bit on May 20th after work anytime from 5pm to 7pm. #tweetgwinnett
Did Your House Just Get Pounded? (by Hail)
Posted By Matt Fagioli on April 10th, 2009
If you live in Northern Gwinnett, your house probably just got lit up by the nasty hail storms that also passed through Hamilton Mill tonight (my house too).
My Friend Finn Smith called me tonight from White Oak Roofing to let me know that he will be up this way all day tomorrow providing free estimates for hail damage repairs for my roof and many of my neighbors too.
If you want a free estimate from White Oak Roofing, call Finn Smith at 404.805.9466 or check out WhiteOakRoofing.com
Lease Purchase Can Be A Great Option for Gwinnett County Home Buyers
Posted By Matt Fagioli on March 24th, 2009
People ask me all the time about creative financing options. While there is certainly lots of lending going on and plenty of available cash for qualified borrowers, the criteria that lenders are using to qualify a buyer have become much tighter & more restrictive. As a result, there’s a lot more that need a home right now but they can’t get traditional financing due to job loss/job decline OR just because the tighter lending restrictions make it difficult for them to qualify.
Quick note of caution:
PLEASE don’t assume that you can’t qualify until you ask a real pro!
I mentioned above that people ask me all the time about creative financing. Well, probably 40% of those people CAN get a traditional loan - they just thought that it was impossible “in today’s market”. It’s not impossible. Great financing is still out there, in fact the rates are AMAZING! (4.x % in many cases).
Sorry for the long set up to this post about lease purchase options, but I think it’s required reading.
I LOVE lease purchase (for buyer’s who don’t qualify today for traditional financing). Here’s why. With a lease purchase contract, you get to move into the house now and see how it works for your family. If everything works out great, then you have the right to purchase the home at a pre-determined price. Plus, it allows you more time to get your finances in order - usually 12 to 18 months.
And, it also works for the seller. Here’s how:
The seller also gets a great deal because he probably will command a bit higher price than on today’s open market AND he gets his rent paid for the duration starting this month (emphasis on THIS :) The seller also will retain a substantial deposit in most cases that is non-refundable. Perhaps the best part for the seller is that the buyer is way-more-likely to be deeply invested emotionally and otherwise in the property, so the chances are very good that the property will be well cared for and that a closing will ultimately take place in the end.
When we structure a lease purchase for a client, here’s some of the terms we typically develop:
- Initial deposit of 1% to 3% of the purchase price
- Rent amount consistent with the overall market
- Purchase contract price typically 3% over market
- 12 to 18 month lease term
Each of these terms has flexibility and requires some thought, based on the specific details of your situation. Feel free to comment below about your experiences with lease purchase or send me email to matt@diamonddwellings.com
Download the 2008 Hamilton Mill Sales Data
Posted By Matt Fagioli on February 14th, 2009
In preparation for the upcoming Gwinnett Town Hall, we’ve assembled the sales data for 2008 for Hamilton Mill Golf Club. There’s a lot you can see when you analyze the data. That’s part of what we’ll be talking about next Tuesday at the Town Hall meeting.
Of course, next week we’ll also be presenting all the data for Gwinnett County real estate as well as national perspectives. But, since Hamilton Mill is “home” for us, we just had to dig into the details for the Hamilton Mill Golf Club Community.
In 2008, we had just 75 closings in Hamilton Mill.
(2005/2006 results were almost 3x that volume)
If you want to see the details of each of the 75 transactions, you can download the complete file by clicking on the image below. (you can also click here)
Gwinnett Town Hall at Hamilton Mill Next Week!
Posted By Matt Fagioli on February 13th, 2009
The Gwinnett Town Hall is set for next Tuesday evening, February 17th at Hamilton Mill Golf Club.
In case you have not heard the big news, Georgia Lt. Governor Casey Cagle is coming!
Here’s the complete press release.
We’re so honored that he will be joining us.
Lt. Gov. Cagle will make some opening remarks along with Senator Rene Unterman.
Other key business leaders will join Diamond Dwellings in an insightful & informative panel discussion about the national and local economy.
Diamond Dwellings Realty will provide an overview of today’s real estate market as well.
The event begins at 6pm. We hope you can join us!
