Because of you… We are still the #1 Team at Keller Williams Realty Peachtree Road and now ranked in the Top 50 amongst all Keller Williams Realty agents in the Southeastern Region. Thank you for trusting us to be your real estate agents for life!

We have closed 15 transactions since July 1, 2009! 11 out of those 15 came from your referrals. What an honor!

Through September, we’ve sold over $6 million dollars in real estate. We’re busy but we are never too busy for new clients. As we begin to approach 2010, please don’t keep us a secret!

Your agents for life,
Lesley and Andy

1407 Cortez Lane NE, Atlanta, Georgia 30319

4 Bedrooms, 3.5 Bathrooms

Offered at $489,900

Click here for front of flyer. 

Click here for back of flyer.

What a pleasure it is to represent properties such as this!  If you’re looking for a move in ready home under $500,000 inside the perimeter, you have to see this home.  Listed at $489,900 this home has the square footage, condition and upgrades of homes 20% more expensive. 

Brookhaven Gardens is a small neighborhood originally constructed in the late 1990’s in the incredibly popular and fast growing Brookhaven community of unincorporated DeKalb County.  The quiet community is a refreshing setting within 1 mile of the lights, cameras and action of Buckhead.  With a great location and reduced taxes, you get the best of both worlds.  Highlights of the neighborhood include an active Homeowners Association, which acts independently and also participates within the larger Brookhaven Fields Civic Association.  Each year in the fall, Brookhaven Gardens organizes a block party filled with great pot luck and catered food, karaoke machines, pony rides, visits from the local police and fire departments giving tours of police cars and fire engines, football on TV, and other surprises.  Perhaps one of Brookhaven Gardens’ best features is also the best kept secret of the area, a small fountain filled pond, home to at least 10 beautiful and friendly ducks.  Neighbors sometimes pause for a humorous duck crossing in the street, and many are found feeding the neighborhood “pets” from their waterside decks.  The community is built around the pond, and a waterfront gazebo is a welcoming spot for visitors to feed the ducks or enjoy the sounds of the fountain.  The residents of Brookhaven Gardens love the close walking proximity to the brand new Village Place Brookhaven development on Dresden highlighted by Library Coffee, Verde Taqueria, Haven, and the highly anticipated J. Christopher’s.

Hope you are not looking for a home needing work!  This private Brookhaven residence is an incredible value with upgrades such as new carpet, a brand new roof, new granite countertops in the kitchen, and new stainless steel appliances.  From the minute you walk in, you’ll notice one fantastic feature immediately.  The home has been well cared for, and it shines.  The carpet is new, the hardwoods are rich, and the paint is neutral awaiting your custom colors.  This Brookhaven beauty is bright and open with a floor plan perfect for all styles of living.  You will find a formal living room adjacent to the dining room complete with wainscoting and large enough for the biggest of dinner parties.  The kitchen is updated and home to shiny new stainless appliances and durable granite countertops.  The main living room is a casual retreat convenient to the kitchen and filled with natural light from the backyard.  The second floor is home to four bedrooms including the master, Jack and Jill bedrooms, and a fourth guest bedroom.  In addition, the laundry room shares the second floor with all the bedrooms, making laundry days a breeze.  The master bedroom is oversized featuring a large walk-in closet and trey ceiling.  The master bathroom makes for a spa-like morning every morning with a separate shower, jetted tub, separate water closet, and double vanities.  The three additional bedrooms provide for ample space.  The fully fenced backyard is private and professionally landscaped with great space for entertaining or playing.  The neighbors are gracious and friendly, and the HOA is positively active.  The location is convenient and desirable, and this home is move in ready and waiting for you! 

Andy and Lesley Peters with The Peters Company at Keller Williams Realty Peachtree Road are well versed in Atlanta Brookhaven real estate.  In fact, we live in Brookhaven ourselves!  We represent both buyers and sellers on new construction as well as resales, and we are intimately familiar with the Brookhaven short sale and foreclosure market. For more information about The Peters Company, visit our website at www.thepeterscompany.com. You’ll also find us on Kudzu.com under “The Peters Company” where we have received well over 40 5-star reviews and are ranked as one of Atlanta’s highest rated real estate teams. Give us a call today at 770-634-2782. We look forward to working with you and helping you take advantage of today’s market!

Jaycie Mirabella!

As our business has grown, we feel the need to provide more for our clients.  Service is the name of the game in any business, but in real estate its non negotiable in our opinion.  With an increase in buyer clients, we felt the need to be available more and more to meet the demand.  Buyers need to see a lot of property.  They have to make tough decisions, decisions that cannot be made adequately at times without going out and seeing property.  Since there was only two of us, our time booked up pretty fast, and like in everything we do, we aim to please and we extend the extra effort to do things the right way.  It became clearly evident at this time, the beginning of the “busy” Atlanta real estate season, that we needed some help.  Enter Jaycie Mirabella!  Jaycie joins The Peters Company as our new Showing Agent.  She’ll be involved in several facets of our business as we continue to over service our clients.  She is an incredibly talented and hard working agent with a refreshingly positive attitude, and we are fortunate to work with her.  I asked Jaycie to tell you a little bit about herself because you are going to want to get to know her personally…

As the daughter of a motivated businessman, I moved a lot when I was a child.  In fact by the age of 10, I had already lived in 5 different states!  I remember one of my favorite parts about moving was searching for the perfect house to call “home”.  It should have been clear to me a long time ago that my perfect fit was in Real Estate! 

Although I moved a lot when I was a child, I consider Atlanta my “home”.  I spent my teen years in a small town south of the city and went on to graduate from the University of Georgia with a double major in Journalism and Political Science.  Lucky enough to be living in the city of a global news organization, CNN gave me my first taste of a “real job”.  I quickly discovered that I didn’t love television journalism as much as I thought I would, but I wouldn’t trade the two years I spent working there for anything!  I was given the opportunity to work with people from all over the world and create life-long memories.

My story wouldn’t be complete without telling you about my wonderful husband of 4 years, Nathan and our beautiful baby boy, Morgan.  Nathan and I started our life together living in a studio condo in Midtown and moved west to Smyrna when we started a family.  We enjoy life in Smyrna with our baby boy, Morgan and our Schoodle (yes, that’s a Schnauzer-Poodle!), Tanner.

I’ve been working in Pharmaceutical Sales for the last 5 years and have really enjoyed working with physicians and other healthcare providers.  It’s just recently that I have decided to pursue my dream of becoming a successful Real Estate Agent.  With the help of so many wonderful people at Keller-Williams, I feel as though I am now on the road to making this happen.  I recently joined Andy and Lesley Peters and look forward to what this year will bring with the three of us partnering together.

My goal is to partner with Andy and Lesley to provide top-notch service to our clients.  I truly believe my success thus far has come from always treating my clients with respect and going above and beyond to become a product and market expert in my industry.  I treat my clients, all of whom I consider friends, with respect, and my focus is to always look out for my clients’ best interest.  I am so excited to be a part of a team of people at Keller-Williams who work under the same philosophy.  

-Jaycie Mirabella

One of the joys of our job is to help our clients achieve their goals and through that process become good friends.  We have accomplished that yet again with Berkley and Lee.  Having first met with them in October of 2008, we decided in February to eventually rent their current Norcross townhome and help them find a “deal” on a larger Norcross single family home now.  While these results are not typical, we were able to secure them a deal alright at 83% sales/original list price.  Buyers are holding a lot of cards right now, but this was truly a diamond in the rough.  We closed on their new home on Thursday, and coincidentally we closed on the rental of their townhome on Friday.  We are so appreciative of the opportunity that Berkley and Lee gave us.  It was a real pleasure working with them, and best of all we made new friends in the process.

If you have been thinking about taking advantage of this market and need another opinion, we would be more than happy to invest an hour with you to determine your best move.  There are so many options out there for today’s Atlanta homeowner.  You can always reach us through the website at www.thepeterscompany.com.  We look forward to working with you!

The buyers are out in full bloom already, braving this flood weather we have experienced recently in Atlanta.  We’re working with homebuyers in Norcross, Alpharetta, Roswell, Sandy Springs, Brookhaven, Buckhead, and Decatur.  Rain can’t keep people away, and it’s just wonderful to see the pickup a little earlier than expected.  Atlanta home sales are on the move.  Our phone continues to ring daily with new homebuyers ready to take advantage of the market.  With the new buyers also come new listings.  In the past week we have added three new single family listings in Decatur, Sandy Springs, and Buckhead.  You’ll note those listings on our blog.  Week after next we will be adding a foreclosure listing in the well known Park Place condominium building of Buckhead. 

Remember that it’s only a buyer’s market if you’re buying.  If you are a seller, think like a buyer.  If you are interested in learning more about our metro Atlanta market and perhaps how you can take advantage of it, we would love to spend an hour with you over lunch, coffee, or at your home.  We have some wonderful statistics, tips, and tricks for ensuring that your next move is a great move.  If you are an intown Atlanta homebuyer, we would like to meet with you, and if you are an Atlanta first time homebuyer we definitely want to meet with you!  This is an amazing market for you first timers!  All the best. -Andy & Lesley

Courtesy of WSJ, by way of Freddie Mac

We get that question about a handful of times every week.  Just like the real estate market, the answer is rather pat.  We won’t know until things start going up when we have hit the bottom.  The bottom will be in our rear view mirror by the time we figure it out.  Back to the mortgage market.  It’s hard to imagine things dropping further as it relates to rates.  We are already in unchartered territories considering we are at all time lows.  Current 30-year averaged rates sit at 4.85%, the lowest point figure ever recorded since Freddie Mac started recording in 1971.  You can take a look at the chart above for an indication of how far we’ve come in the last year. 

Everyone is trying to “time” the market, whether its in real estate, in mortgage rates, the stock market, etc.  It’s impossible to time the market.  Like playing with fire, sooner or later you are going to get burned.  A recent Reuters report reveals some interesting insight from one of the mortgage insiders, John Koskinen, the head of Freddie Mac.  Koskinen ”said on Friday that U.S. home loan rates are near their bottom and any further decreases will be small.”

So, the moral of the story here is that you don’t want to let the bottom pass you by.  It’s a great time to buy real estate.  It’s a great time to refinance if it’s financially feasible for you to do so.  We are lower than low at this moment.  Rates are lower than they have been in over 37 years.  It’s been said that a roughly 1% rise in your interest rate is comparable to paying 10% more for your home.  It’s hard to imagine a better position to be in.  If we can help you take advantage of this market, we would love to help.  www.thepeterscompany.com

The Peters Company is involved in more and more distressed property transactions these days.  It’s the unfortunate state of affairs right now in our market.  Distressed property is categorized as most commonly “short sales” and “foreclosures.”  The truth is that these distressed sales are providing amazing opportunities for our buyers.  It has been said that one in four transactions in the metro Atlanta area is a foreclosure according to 4th quarter 2008 statistics.  I might argue that it’s a little higher than that as many agents miscode their listings and seem to leave off the fact that their listing is a foreclosure.  Given the numbers of buyers searching specifically for foreclosures, the idea of leaving off a glaring marketing code such as “foreclosure” is hard to believe, but it happens quite frequently.  In addition, many people have called 2009 as the “Year of the Short Sale.”  The short sale route is a much more beneficial route for a seller to go without having to deal with foreclosure.  The lenders are VERY accomodating at this point for those in trouble qualifying for hardship. 

In an effort to provide our clients with the highest level of service, I am taking a class to receive a special designation as a Certified Distressed Property Expert (CDPE).  I hope to use this new designation to help our clients have even more success finding, negotiating, and obtaining distressed property.  In addition, we will be even better positioned to represent sellers in short sale transactions, and we anticipate marketing more great foreclosure properties through our banking relationships. 

By mid April, I should have the CDPE designation, which you will start seeing on more and more of our marketing.  It’s believed that only 1% of all real estate agents have this designation, and we are so happy to add this additional value for our clients.  If you have questions about distressed properties as a buyer or a seller, it would be our pleasure to privately consult with you on the benefits.  Thanks for trusting The Peters Company for all your real estate needs.

Having attended at least one listing appointment per week for the last several months, we have had to share our fair share of bad news.  In fact, we talk more people out of selling than into selling.  That’s the truth.  As we have said before, we are in the market of selling homes, not listing homes.  If we take a listing it is because we think we can sell it.  This is not the market to get what you want for your house, and it’s really not, in some cases, the market to get what you need.  If I can paint with a broad brush here, I don’t think I’m going out on a limb by saying that inventories remain high and homeowners remain frustrated. 

There is some positive though.  This strange market we are in has created a counter culture for the rental market for the landlord and the tenant.  It has become harder and harder to secure financing thanks to the tightening credit market so more and more renters are looking to take advantage of the market not by buying, but by renting.  What does that mean? 

Many homeowners find themselves upside down on their mortgage or simply refusing to take a large loss by selling their home.  So, what’s a homeowner to do?  Rent it baby!  As in the resale market, a well priced rental home rents fast.  It’s really a great time for the tenant too because they are, in many cases, able to rent a home/townhome/condo at a discount versus the traditional apartment complex.  It’s a win-win for everybody because these new opportunities for tenants allow the landlord homeowner to move on and accomplish goals as well, such as moving up, down, or out of town. 

We have been fortunate to work with some smart couples recently that did not let the market scare them.  In fact, they are rolling with the punches and maximizing their opportunity.  Two couples in particular have already bought or are under contract to buy their “move up” home while renting their current condo/townhome.  This window of opportunity to buy in a perfect storm of high inventory, depressed home values, and historically low interest rates will not last forever.  The smart buyer understands the economics of this decision beyond the initial sticker shock of two mortgages.  A break even on a rental, or even a slight negative cash flow, can pay massive dividends when coupled with a purchase in these times.  As said before, money can be made in an “up” market, but a whole heck of a lot more can be made in a “down” market. 

If you want to move, but you feel stuck or out of options, let’s talk.  We have some great ideas, and we will be happy to discuss the options available to you with no obligation to buy whatsoever.  We aren’t here to talk you in to anything.  We don’t operate like that.  In fact, I think our clients would agree that we are fairly conservative on the risk front.  Regardless, we have relevant statistics and ideas to share with you, and we want all of our clients to make the decisions that are best for them and consistent with their long term goals.

Everyone is looking for a deal.  Unfortunately that deal sometimes needs some sweat and nails to realize its full potential.  So, how do you do it?  In the past most people bought the home and then financed the renovations.  The problem with that is that it’s typically a construction loan or a general personal loan, which can carry a larger interest rate.  What if you could buy a house and finance the repairs/renovations on the front end before you even start?  You can, and it’s called a 203(k) loan.  The loan follows the common FHA lending guidelines, which allows you to put down as little as 3.5% down.  I think it’s important to start from the source when trying to explain the loan and its benefits.  FHA is a division of HUD so click here for HUD’s specific information on the loan.  Standard FHA loan limits apply at $346,250, which is an increase over last year.  Rates typically for this particular loan are only moderately higher (approximately .50% higher).  Currently FHA purchase loans are around 5% so this rehab loan would fall somewhere in the 5.5% range.  Although higher than a conventional loan in the high 4% range, this is still an amazingly low interest rate, historically speaking.

We recently attended a seminar about the 203(k) sponsored by our friends at Countrywide Home Loans, and they provided us with some great Q & A on the loan.  Countrywide is one of the only lenders utilizing this loan currently.  Here is some great information from Countrywide:

Top 10 203K Questions

1.       What is the difference between a regular 203K and a streamline 203K?

• Streamline – between 5K and 35K with no structural changes to the property
• Regular – greater than 35K and / or structural changes to the property

 2.       Is the borrower allowed to perform the work to the home?

·         Yes but very difficult to get approved.

3.       Is the house appraised “As is” or with work completed?

• The house is appraised taking repairs / rehab into consideration of the value.

 4.       How long do you have to complete the work?

• Up to 6 months.

 5.       It the rate higher on a 203K than a regular FHA loan?

• Yes.  Anywhere from .5% to 1% higher in rates.

 6.       Is it harder to qualify for a 203K than a regular FHA loan?

• Yes. 

 7.       Are the 203K limited to single family residences?

• No.  The program can be used for owner occupied 1 to 4 unit dwellings and condos.

 8.      How does the contractor get paid?

• The contractor gets paid through Countrywide’s escrow department.  They are allowed 2 to 5 draws depending on the cost of the rehab.

 9.       What type of out-of-pocket expenses should the buyer be prepared to pay?

• There is a home inspection or an FHA consultant fee to determine the scope of the work.  The cost varies from $300 to $1,000. 

 10.  How long does it take to close and receive the first draw?

• We need 60 days to close and it will take up to two weeks after closing to receive the first draw

With mounting foreclosures, the savy homebuyer can buy lower than low, rehab a house, and realize some major equity all within a single loan.  We would be happy to help you find that diamond in the rough so you too could take advantage of the market and all the possibilities it presents.  If you have additional questions about the 203(k) loan or any other loans, we encourage you to talk with Scott Meldrum at Countrywide Home Loans.  Scott can be reached at scott_meldrum@countrywide.com.

Are you looking for timely information that is relevant to the real estate market?  How about accurate information and statistics on the metro Atlanta market specifically?   How about up to date mortgage rates from reputable lenders?  The Peters Company has a bi-weekly email update called the Metro Atlanta Real Estate Update.  Past topics include Buckhead foreclosure searches, Brookhaven foreclosure searches, Buckhead best buy lists, legal tips from Atlanta’s top real estate attorneys, intown Atlanta home insurance advice from local property/casualty agents, Atlanta first time homebuyer question and answer, education on Buckhead short sales, Brookhaven short sales, and Decatur short sales, creative Atlanta financing, Atlanta real estate investing, and first time home buyer tax credits. We are adding subscribers to the Metro Atlanta Real Estate Update every week, and we would love to add you!  Simply send us a quick email, and we will be happy to add you.  This Atlanta real estate market presents such an amazing opportunity for you.  Make sure you are staying on top of the latest, and if you don’t have enough time to do that, let us help!  You won’t miss a beat with the Metro Atlanta Real Estate Update.