Archive for June, 2011

How to Narrow Your Search for Thomasville Homes

Wednesday, June 29th, 2011

With the wide array of Thomasville homes on the market today, how do you narrow your search without missing out on that perfect home?

Here are 4 steps you can take to narrow your search for Thomasville homes.

Step 1: Decide on your top priority. Is it location, price, number of bedrooms or something else?  Once you’ve decided on the most important feature, concentrate your search there.

Step 2: Search for homes. Most people start their search online.  There are many real estate web sites you can browse through.  Unfortunately, there are two big challenges to searching online:

1.    Home listings quickly become out of date and may have incomplete or inaccurate information.  Overcome this challenge by enlisting the help of a real estate agent.  Your agent can quickly get all the current details on Thomasville homes for sale.

2.    You can spend hours searching online without finding what you’re looking for.  Overcome this challenge by setting a limit on the amount of time you spend searching online.  Use a timer to remind you when your time is up, then walk away from the computer.

    Step 3: Get comparables.  After you‘ve narrowed the list to your favorite neighborhoods, get a few sales price comparisons that include homes that have sold in the last six months as well as those with contracts pending.  Make sure you are comparing apples to apples, which means to compare homes that are the same size, same style and in the same neighborhood.  Your real estate agent is the best resource for this type of information.

    Step 4: Double check availability. Once you’ve made your top picks of Thomasville homes to view, have your agent make sure the properties are still available and don’t have pending offers.  You don’t want to waste your time going to see a property that is no longer for sale.

    Let First Thomasville Realty do the work for you.  Give us a call today at 229-226-6515 or email us at info@FTRealty.com to find out how we can streamline the search process for you.

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    Four Thomasville Real Estate Mistakes Sellers Make

    Monday, June 27th, 2011

    If your home is sitting on the market month after month, or you’re only receiving ridiculously low offers, then you might be committing one of several common selling slip-ups. Some homes almost sell themselves, but if you don’t have that amazing home in the perfect location, you’ll need to be especially careful that you’re not committing one these four easily-avoidable Thomasville real estate mistakes. 

    1.     Your home is priced too high. If no one’s even looking at your house, it may be priced above market value. Check out the competition, and reevaluate how badly you need to sell. If you’re unwilling to drop the price to get buyers through the front door, maybe it’s not a good time for you to sell. 

    2.     Your house isn’t marketed well. Make sure you and your real estate agent are doing everything possible to get the word out about your home.  Include all of your home’s best assets and many flattering photos in your online marketing. With most home buyers starting their search on the Internet, if your home doesn’t look good online, they may be crossing your home off their list before giving it a chance. 

    3.     You hired a bad real estate agent. If your Thomasville real estate just isn’t selling, it may be because your agent isn’t doing enough to get buyers through the door. Make sure you have detailed and open discussions with your agent from the beginning. That way you’ll each know exactly what you expect from the other.  If you’re not getting the results you want, talk with your agent and put a plan in place to reach your goals. 

    4.     Your home is in poor condition. Make sure all of the necessary fixes and repairs are done. Clean! And, remove as much clutter from your home as you can. You want potential buyers to come in and imagine themselves living there. Don’t make them want to run right back out of the door. 

    If you need help ensuring you’re not making a common Thomasville real estate mistake, give First Thomasville Realty a call at 229-226-6515 or email us at info@FTRealty.com .

    Posted in Home Sellers Tips | Comments Off

    Thomasville Real Estate: Answers to Your Short Sale Questions

    Friday, June 24th, 2011

    There’s a lot of confusion surrounding short sales, so we thought we’d answer some of the questions we’ve received from clients, owners of Thomasville real estate and blog readers.

    Q:  What is a short sale?

    A:  A short sale is when a lender agrees to accept less than what is owed on a home.  For example, you owe $300,000 on your home loan, but your lender will allow you to sell your home for $250,000.

    Q:  Who makes up the difference between the short sale price and the amount owed?

    A:  In the past, the owner of the Thomasville real estate would receive a 1099 income statement at tax time.  The “forgiven amount” would then be counted as income subject to income tax.  This left homeowners in debt to the federal government for the tax owed on that amount.  Now, with the passing of the Mortgage Forgiveness Debt Relief Act and Debt Cancellation, the short fall on a primary residence is not counted as income.  This eases the financial hardship of those who are already struggling.

    Q:  Does a short sale impact your credit the same way as a foreclosure?

    A:  No, the impact of a short sale is milder on your credit than a foreclosure.  Short Sales usually reduce your score by about 80 to 250 points and only stay on your record for around 5 years.  Compare that to foreclosures which reduce your score approximately 250 to 400 points and remains on your record for 10 years.

    Q: How do I qualify for a short sale on my Thomasville real estate?

    A:  Contact your lender as soon as you know you are in financial trouble.  Government programs, particularly the Home Affordable Foreclosure Alternatives (HAFA), are designed to make short sales more attractive to lenders by giving them incentives for allowing a short sale over a foreclosure.  However, if you allow your loan to become delinquent (more than 60 days), lenders are less likely to grant a short sale.

    Q:  Can I sell my home as a FSBO and still qualify for a short sale?

    A:  No.  Lenders rely on “broker opinion” as to what the home is worth at this time.  You need to hire a real estate professional that has experience with short sales.  Short sales take longer to close and properly handling the sale can make a difference in getting an offer accepted by your lender.

    If you are facing the possibility of foreclosure, let us help you discover the options that are available to you. You can reach First Thomasville Realty at 229-226-6515 or by email at info@FTRealty.com .

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    Understanding PMI and What it Means to Your Thomasville Home

    Wednesday, June 22nd, 2011

    Private mortgage insurance (PMI) is a term many Thomasville home owners have heard but few understand.  Unfortunately, even more home owners have paid PMI premiums long after it was needed because they didn’t know they could cancel.

    Here are answers to questions I am most frequently asked about PMI:

    What is Private Mortgage Insurance (PMI)?

    As its name states, PMI is insurance.  Like all insurance, it protects someone against the loss of something.  For example, car insurance protects the car owner against the loss of his car.  In this case, PMI protects lenders against the loss of their money if borrowers fail to repay their mortgage. 

    If you buy a house and make a down payment of less than 20%, lenders require that you pay for PMI insurance.  Let’s use an example of Jane buying a Thomasville home for the purchase price of $400,000.  She has $40,000 for a down payment, which is 10% of the purchase price. That means she has to pay for PMI.

    What’s the cost of PMI?

    PMI premiums vary depending on the mortgage insurance company you use.  Generally, they range from .5 to 1% of the amount of your home loan.  You have the option of choosing the insurance company you would like to work with, and there are many to choose from.  As with any insurance, you should shop around to find a company with which you feel comfortable.

    Do all loans require PMI?

    No, if you put down 20% or more of the purchase price of your Thomasville home, you are not required to buy PMI. 

    I’ve made mortgage payments for 2 years why do I still need PMI?

    Understanding how your loan works is very important.  The first several years of your mortgage payments go toward paying down the finance charges (interest) on your home loan.  PMI is based on the principal (the amount you actually borrowed), not including finance charges.  Because of this, it can take many years to reach the point where you’ve paid off 20% of the price of your home.

    How do I know when I can stop paying for PMI?

    The Homeowners Protection Act (HPA) requires lenders to inform a buyer at closing that PMI can be cancelled and at what point in the loan this will occur.  However, it is still your responsibility as the home owner to request cancellation once you qualify.  In other words, no one is going to automatically cancel your PMI when you’ve paid off 20% of the price of your home.  You must do that or you continue to pay.

    What if I forget to ask to have my PMI cancelled?

    If you do not ask for PMI to be cancelled, you’ll continue to pay PMI until you’ve paid off 22% of the price of your home.  Fortunately, the lender is required to automatically cancel PMI once you’ve reached the 78/22 point, which means you’ve paid off 22% and only owe 78% of the price of your home.  However, if your loan isn’t current or has more than one late payment in the past year, you still must pay for PMI.

    What if I have had late mortgage payments in the past?

    As long as you have had no more than two late payments in the past two years, the lender will allow you to cancel.

    What if I have had more than 2 late mortgage payments?

    The lender will require you to maintain PMI until your home loan reaches 77/23, at the earliest.  In some cases, the lender can require you to maintain PMI up to the halfway point in your home loan, at which time they are required by HPA to cancel.

    Will I ever have to get PMI again for my Thomasville home loan?

    No.  Once PMI has reached the cancellation point and has been cancelled, the lender can’t require you to purchase additional PMI.  The only way that can change is if you refinance your current home loan.

    If you have questions about PMI or any other real estate related questions, we’re happy to help.  Give First Thomasville Realty a call today at 229-226-6515 or email us at info@FTRealty.com .

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    Finding the Best Buys in Today’s Thomasville Real Estate Market

    Monday, June 20th, 2011

    The Thomasville real estate market is still a buyer’s market which means, as a buyer, you can get a good price on a home.  However, if you know what to look for, there are properties on which you can get a great price.

    Here are three areas of the Thomasville real estate market that generally offer the best prices:

    1.    Homes that have been on the market for several weeks (or months!) -  Have your real estate agent send you homes that have been on the market for several weeks or months.  These property owners are more motivated to sell than the owners of newly listed homes.  They’re more willing to negotiate for lower prices or even give you extras such as home warranties or paying a portion of your closing costs. 

    2.    Bank owned properties.  Bank owned properties (also known as Real Estate Owned or REOs) are homes that go back to the mortgage company after an unsuccessful foreclosure auction.  Like foreclosures, these properties can take longer to close, but the savings can be well worth the extra time.  Your Thomasville real estate agent can help you understand the pro’s and con’s with this type of purchase. 

    3.   “As is” properties.  A property listed “as is” means the seller is not willing to fix anything and will not negotiate a price reduction based on needed repairs.  However, if you’re willing to put some money and elbow grease into the property, this could be your opportunity to get more home, in a better location and at a price you can afford.  Renovations can be done over time.  The lower mortgage payment could save you more over the years than the renovations will cost.  Your Thomasville real estate agent can help you indentify the renovations that will have the best return for your investment.

    If you’d like help finding the best buys in today’s Thomasville real estate market, give First Thomasville Realty a call today at 229-226-6515 or email us at info@FTRealty.com .

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    Give Your Dad’s Thomasville Home the Gift of Renovation this Father’s Day

    Friday, June 17th, 2011

    Today’s buyers generally want modernized, updated properties. In a lot of markets, features like stainless steel appliances and granite countertops are almost expected, especially in higher price ranges. As your Father’s Day gift this June, help your dad add value to his Thomasville home. 

    Five renovation tips that are great gifts and will increase value:  

    1.    Windows and doors - Almost any upgrade to windows, exterior doors or the garage door will add value to a property and increase its security. However, if you want to make a big impact, splurge for energy-saving windows. These will be especially appealing to buyers looking to lower their carbon footprints and those looking to lower their utility bills — which is everyone!

    2.    Curb appeal – The outside of a house is the first thing buyers see, so it makes sense to spend money to keep it looking its best. With a few new plants, a hedge trimmer, a paintbrush and a shovel, even the most inexperienced DIYer can make a significant impact on a property’s curb appeal.

    3.    Kitchens and baths - Everyone uses them daily and would like them to be as nice as possible. Any money spent updating the kitchen and bathrooms will see a positive return when your Dad decides to sell his Thomasville home.

    4.    Don’t overdo it – Almost everyone wants granite counters, but maybe you live in a laminate neighborhood. Don’t spend so much on updates that your house is far and away the most expensive per square foot in the neighborhood. As a general rule, it’s always hard to sell the most expensive property on the block.

    5.    Sweat the small stuff - A few bucks spent on new light switches, faucets and doorknobs can go a long way to improving the look of a house, without any major investment.  

    Would you like more renovation ideas that would make great Father’s Day gifts for your Dad’s Thomasville home? Give First Thomasville Realty a call today at 229-226-6515 or email us at info@FTRealty.com .

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    6 Myths about Professionally Staging Thomasville Homes

    Thursday, June 16th, 2011

    In this tough real estate market, you need all the advantages you can get in order to sell your home.  Staging is one of the biggest advantages you can give your home.

    You’ve heard a lot about staging Thomasville homes and it’s usually followed by the words, “I can’t afford to hire a professional stager.”  In today’s market you really can’t afford not to.  Here are six myths about professionally staging Thomasville homes (and the facts behind the myths):

    MYTH #1:  I can’t afford to hire a professional home stager.

    Fact:  Professional home staging is more affordable than you think. The industry has grown tremendously over the past few years, and because of this, the cost of home staging has become competitive.

    MYTH #2:  I don’t have time to look for someone I can trust.

    Fact:  Many real estate agents employ stagers to handle the Thomasville homes they list.  There is a fee for this service, but the real estate agent has already done the hiring for you.

    MYTH #3:  Only expensive homes get staged.

    Fact:  Any home can be staged.  Even the most modest of homes can look like a buyer’s dream home when staged correctly.

    MYTH #4:  Why spend the money on staging when I live there.

    Fact:  We furnish our homes according to our taste and likes.  To sell your home, you must appeal to as many buyers as possible, and what looks good to us might not look so good to someone else.

    MYTH #5:  Staging my home won’t make it sell faster.

    Fact:  A professionally staged home will sell faster by appealing to more buyers.  The whole purpose of staging is to make your home look like a home the buyer can’t wait to live in.

    MYTH #6:  All the homes around me look the same; staging isn’t going to help.

    Fact:  Having your home professionally staged will make it stand out from the competition.  This is exactly the edge you need for buyers to pick your home over the other Thomasville homes for sale in your area.

    Want help finding a professional stager for your home?  Give First Thomasville Realty a call today at 229-226-6515 or email info@FTRealty.com .

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    Buying a Thomasville Home: How to Reduce Stress

    Wednesday, June 15th, 2011

    If you’re preparing to buy a Thomasville home, you may already be thinking about the stress of interviewing real estate agents, searching for homes and getting a mortgage.

    Here are 7 ways to reduce the stress often associated with buying a Thomasville home:

    1.    Hire a real estate agent who fits your personality.  Find someone who you trust, who communicates well with you, and who you feel comfortable being around.

    2.    Listen to your agent.  Once you’ve hired an agent you trust, listen to her advice.  Don’t stress yourself out by second guessing her.  You hired her because she’s an expert, so relax and take her recommendations.

    3.    Have it your way.  Make decisions based on your needs and desires, not those of your parents or friends.

    4.    Get early mortgage approval. The best time to shop for your mortgage is before you start shopping for a house.  Get approved for your mortgage, and then start your house search.

    5.    Know when to give in.  Are you really going to let that $500 the sellers refuse to give up keep you from owning the home you want?  Successful negotiation depends on both parties doing some give and take.

    6.    Focus on the positive.  It’s unlikely that you’ll ever find a home that meets all your needs, wants and desires.  Focus on the positive aspects of the home you’ve chosen such as location, comfort and safety; don’t worry about the minor negatives that can easily be changed such as the lime green wallpaper or the shag carpet.

    7.    Expect buyer’s remorse.  After making any big purchase, a little buyer’s remorse is bound to happen.  Remind yourself of all the things you like about your new Thomasville home, and the buyer’s remorse will pass.

    If you’re in the market for a new Thomasville home, First Thomasville Realty can help you accomplish your real estate goals while keeping stress to a minimum.  Give us a call today at 229-226-6515 or email us at info@FTRealty.com  for more information.

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    How Real Estate Taxes Impact the Cost of Owning a Thomasville Home

    Monday, June 13th, 2011

    The cost of home ownership is not simply your monthly mortgage payment.  In order to calculate the true cost of Thomasville home ownership, you need to consider a variety of other expenses. 

    One of the additional expenses you need to consider is real estate taxes.  Most state and local governments charge an annual tax on the value of real property. This is called a real estate tax.  Not everyone is subject to real estate taxes but for those who are it can make a big difference in how much home you can afford.  

    Real estate taxes are not the same for every property.

    Real estate taxes vary from a couple of hundred dollars a year to thousands of dollars a year.  This should be looked at seriously, because it could mean the difference between being able to afford your home and not being able to make your payments. 

    No one wants to be house poor or lose their home because they can’t afford the real estate tax, but countless numbers of people have lost their homes for this very reason.  If you don’t pay your real estate taxes, not only will your home be sold for back taxes, but the mortgage company will still expect full payment on your loan.

    Higher taxes don’t necessarily mean better services.

    Although neighborhoods with higher taxes can offer better schools, roads and hospitals, this is not always the case.  Don’t judge the neighborhood by the real estate tax, but do look at the services you’re getting for the taxes being charged.

    Real estate taxes must be paid to transfer ownership.

    If you are selling your home, you must have your real estate taxes current.  If you’re buying a home, know that the real estate taxes are part of the closing costs you have to pay.  The yearly real estate taxes and the status of those taxes are part of every real estate listing and should be taken into consideration just as you would consider the price of the home.

    Knowing the costs associated with homeownership allows you to purchase your new Thomasville home with peace of mind.

    If you’re thinking of buying a Thomasville home, let First Thomasville Realty help make the process a pleasant and profitable experience.  Call us today at 229-226-6515 or email us at info@FTRealty.com .

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    Financing Thomasville Homes: What is an FHA 203(k) Rehab Loan?

    Friday, June 10th, 2011

    Have you ever heard of the 203k rehab loans offered through the Federal Housing Administration (FHA)?  If you’re rehabbing Thomasville homes, it might be just the loan you need.  

    What is a 203(k) Loan?

    The FHA developed the 203(k) program to help revitalize homes throughout the country.  This program provides insured loans that can be used to rehab, rebuild or modernize existing Thomasville homes. 

    What are the Benefits of a 203(k) Loan?

    This is a one-stop loan, which means one loan finances both the purchase and rehabilitation of your property. 

    The mortgage amount is based on the projected value of the property after the work has been completed.  The mortgage takes into account the cost of the rehab including labor charges, permits, drawings, etc.  The mortgage can’t exceed 110% of the “As Repaired Value.” 

    FHA approved lenders can offer this program and it can be combined with other approved programs. 

    Who is Eligible for a 203(k) Loan?

    This program is open to individuals as well as non-profit organizations. 

    What Properties are Eligible for 203(k) Loans?

    The 203k loan can be used to purchase and rehab one- to four-family dwellings that have been completed for at least one year.  For all the additional eligibility requirements, carefully review the “Eligible Property” section on the web page about 203(k) loans. 

    If you’re looking at Thomasville homes to buy, whether you’re using an FHA loan or not, First Thomasville Realty can help.  Give us a call today at 229-226-6515 or email us at info@FTRealty.com.

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    How to Find the Perfect Thomasville Real Estate Agent

    Wednesday, June 8th, 2011

    The Internet has made researching real estate easy for anyone who knows how to surf online. Whether researching real estate to sell homes or to find for their next big investment, many property owners and home buyers think they’ll save a lot of money by doing all the work themselves. 

    However, statistics show that you’re more likely to sell your property quicker or find your dream house faster when you work with a professional Thomasville real estate agent.  Working with an agent provides you with an expanded housing database, years of property-purchasing knowledge and valuable contacts for everything from inspections to loans. 

    The trick is to find the right Thomasville real estate agent to fit your needs.  Here are 5 tips to help you find your perfect fit: 

    1.    Knowledgeable – You’ll want to find an agent who is experienced and doesn’t always agree with you. If they’re constantly telling you yes, then they may not be working in your best interest.

    2.    Hard working – Agents who’ve been in the real estate business for decades could be burned out and new recruits might not be as skilled. Look for an agent who has experience in your neighborhood, loves the work and has the energy to get the job done.

    3.    Responsive – Communication is key, so you want to find an agent who gives you constant updates.

    4.    Objective – When it comes to your home, making decisions can become extremely personal. You want an agent who will keep a level head and help you ensure you’re not making emotional or irrational decisions.

    5.    Innovative – A resourceful real estate agent who is always looking for new ways to market your property or looking in new places to find you a house will help you achieve your goals quicker. 

    Don’t endure the frustration of marching through the real estate maze alone. With the right agent by your side, you’ll experience less stress, get what you want faster and save money in the long run. 

    If you’re looking for an experienced, energetic, resourceful Thomasville real estate agents or just have a few questions, give First Thomasville Realty a call at 229-226-6515 or email us at info@FTRealty.com .

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    Steven Clawson from Thomasville GA Finalist on CMT Next Superstar!

    Tuesday, June 7th, 2011

    Steven Clawson, 29, grew up in Thomasville, Ga., playing guitar and singing along to Garth Brooks. He decided to pursue his dreams and love for music by moving to Nashville with his wife, who he met in first grade. Steven also has a passion for songwriting, which has developed from being an avid reader. Steven believes he is CMT’s Next Superstar because he is hardworking and dynamic. His musical influences include Elvis Presley, Kenny Loggins and his favorite country singer, Brooks.

    Come on Thomasville!  Vote for Steven here:  http://www.cmt.com/show/cmt_next_superstar/series.jhtml

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    Is It Time To Replace the Air Conditioner in Your Thomasville Home?

    Tuesday, June 7th, 2011

    Summer is in full swing, and now is the time to think about whether or not you need to replace the air conditioner in your Thomasville home. With the hot days that we’re experiencing, you want to know that your air conditioner can handle the heavy load demanded of it to keep your Thomasville home cool.

    Here are some symptoms that will help you determine if it’s time to invest in a new air conditioner:

    ♦  You hear strange noises coming from the unit.

    ♦  It doesn’t cool your home as well as you would like it to or as well as it used to.

    ♦  Certain areas of your home are too cool or too warm.

    ♦  The air conditioner needs frequent repairs.

    ♦  Your energy bills are going up.

    ♦  Your home has humidity problems.

    ♦  You notice more dust than normal.  This could be caused by your air conditioner redistributing dust from the attic, crawl space or basement into the main areas of your home.

    ♦  The air conditioner is more than 10 years old.

    If you’ve decided it’s time to buy a new unit, here are some features to consider:

    ♦  ENERGY STAR label. Installed correctly, these high-efficiency units can save up to 20 percent on heating and cooling costs.

    ♦  Programmable thermostat. You’ll save energy and money while you’re at work or sleeping.

    ♦  Filter check light. This will remind you to change your filter after a certain number of operating hours.

    ♦  Dehumidifier capabilities.  This provides moisture control which fights off mildew and mold and makes your Thomasville home more comfortable.

    ♦  Quiet mode.  You’ll love an air conditioner that’s as quiet as a whisper.

    ♦  Warranty.  Make sure the air conditioner you choose comes with at least a 1 year manufacturer’s warranty on both parts and labor.  You don’t want to buy a unit that the manufacturer doesn’t stand behind.

    Contact an air conditioning specialist or contractor to learn more about the new features available and how much a new air conditioner will cost.

    Want more home maintenance tips like these?  Subscribe to our blog.  It’s free and easy.

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    Thomasville Real Estate Glossary: What is a Homeowners’ Association?

    Monday, June 6th, 2011

    When you buy a Thomasville real estate in a subdivision, co-op or planned unit development, you may be subject to a host of rules and regulations as established by the Homeowners’ Association (HOA) governing that development.  

    You’ve most likely heard of HOAs, but you may not know exactly how they operate and how they can impact you and your Thomasville real estate.  In this article, you’ll get information on some of the broader issues that you should be aware of when moving into a community governed by an HOA.

    What is a Homeowners’ Association?

    It is a corporation formed by real estate developers to market, manage and sell homes and lots within a development.

    Does the Thomasville real estate developer retain control of the HOA forever?  No.  After a predetermined number of homes or lots are sold, the control is turned over, first, to a handpicked group of homeowners.  Later in the process, elections are held once a year within the development to choose board members.

    Can anyone be a board member?

    As long as you’re a property owner in the development governed by the HOA, you can campaign for the position.  Elections are held once a year.  It is not a paid position; board members volunteer their time.

    What is the primary function of the HOA?

    The primary function of an HOA is to maintain the rules and restrictions that were put in place by the developers and to maintain the community’s common areas.

    Common areas include streets, parking lots, parks or green areas, pools and buildings used by the owners like a clubhouse or fitness center.  If your Thomasville real estate is an attached condo unit, this would include the exterior of your unit as well.

    Can I elect not to join the HOA?

    No, HOA membership is written into the covenants, conditions and restrictions (CC&Rs) when the development is formed.  No matter how many times the property changes ownership, the HOA requirements remain with it. 

    You’re also required to pay HOA fees, which are used to maintain the common areas.  If you do not stay current on the fees, the HOA can put an assessment lien on your Thomasville real estate.

    Before buying into a development with an HOA, read and understand the CC&Rs.  Also, take the time to talk with some of the other homeowners in the development to find out how they feel about their HOA.

    If you’re interested in buying Thomasville real estate, with or without an HOA, First Thomasville Realty can help.  Please give us a call at 229-226-6515 or email info@FTRealty.com.

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    6 Problems to Look for Before Buying an Older Thomasville Home

    Friday, June 3rd, 2011

    Are visions of renovating a stately, older Thomasville home dancing in your head?  Older homes offer a unique beauty that can’t be found in newer homes. And, rehabbing them can be rewarding.  But, think twice before taking on this difficult and expensive task.

    Here are six problems to look for in the older home you’re thinking about buying:

    1.     Plumbing problems.  The plumbing in older homes can be inefficient or downright unreliable.  Homes that are 25 years old or older almost always have plumbing problems with the most common problem being lead pipes.  Even after lead pipes were replaced in the late 1940s, the earliest galvanized steel pipes still contained lead. Lead also was present in much of the solder used to join copper pipes as recently as the mid-1980s.

    2.    Electrical issues.  Electricity in older homes may not be grounded and wiring may not be safely installed.  Even if the electricity is grounded, it may not be available in the quantity needed for today’s home and the vast array of gadgets that depend on electricity.  Electrical boxes in vintage homes were typically 60 or 100 amps. Today’s standard is 200 amps.

    3.    Lack of insulation.  Older homes are typically drafty, cold and uncomfortable. Not to mention expensive to heat and cool.  Check the type of insulation that was used.   Many older homes were insulated with newspaper, asbestos, or not insulated at all.

    4.    Cracked foundations.  The foundation materials used in older homes, such as cement and cinder blocks, crack and leak over time.  These days the exterior sides of foundations are commonly sealed; not so with older homes.  As a result, water seepage occurs and can lead to structural threats and health issues such as mold.

    The wisest thing to do before buying an older home is to have it thoroughly inspected by a professional home inspector.  Then, calculate exactly how much time and money it’ll take to renovate the home so it matches the vision in your head.

    Whether your dream is to buy an older or newer Thomasville home, First Thomasville Realty can help.  Give us a call today at 229-226-6515 or email us at info@FTRealty.com.

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    Homeowner’s Insurance and Your New Thomasville Home

    Wednesday, June 1st, 2011

    You know you need homeowner’s insurance but what kind and how much?  To help you figure this out, here are answers to some of the most frequently asked questions about homeowner’s insurance.

    How much homeowner’s insurance do you need? 

    Lenders require you to carry enough coverage to protect their investment, which means the amount of your loan.  But the amount of your loan most likely isn’t enough to rebuild your home, if it was damaged.  To be able to replace your home and its contents in case of a disaster, you probably want a policy that insures the replacement value of your Thomasville home.  

    It’s a good idea to sit down periodically with your insurance agent to review your homeowner’s policy.  You want to determine if your coverage matches current construction costs and the replacement value of your Thomasville home’s content.

    What about coverage for earthquakes and floods?

    Many homeowners assume coverage for all natural disasters is included in their insurance policy.  Not true.  In fact, the most important thing for you to know about flood and earthquake insurance is that it is not included in a basic homeowner’s insurance policy.  Both require separate policies in order to get reimbursed for damage.

    Let’s face it; most of the United States has the possibility of being affected by an earthquake.  Unless you specifically purchase earthquake coverage, damage to your Thomasville home caused by a quake is not covered.  The same is true with flooding.  You don’t have to live next to a large body of water to sustain water damage from flooding.  A small creek next to your home can cause just as much damage during a flash flood.

    Do you need to shop around for insurance?

    Fortunately, the Insurance Services Office (ISO) sets the standards for homeowner’s policies so coverage doesn’t change much from company to company, however, rates can vary greatly.  That means it is worth your time and effort to shop around for the best prices before you buy your homeowner’s policy.

    If you’d like a referral to a professional homeowner’s insurance agent, give First Thomasville Realty a call today at 229-226-6515 or email us at info@FTRealty.com .

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