The US Department of Housing and Urban Development has recently awarded Diamond Dwellings Realty the coveted approval for the listing and sales of homes offered by HUD. This is a very stringent process and to have received HUD approval is a milestone for the company.

I have been selling HUD homes for a number of years and to have the new approval is another step in the process of contuning the excellent reputation and strength of the Diamond Dwellings.

If you or someone you know is looking to purchase a HUD owned home please feel free to give me a call to discuss your options.

Not every real estate company or agent has the opportunity to offer these services so make sure you check to see if your real estate agent is approved to help you find your dream home.

Matt Hermes / 770.402.2819

Did you know that some of the best deals in Gwinnett County and our surrounding areas are not bank owned foreclosures?  Sure, there are a number of current inventory homes that are priced to sell but not every foreclosure is a deal.  I can tell you that we just put a foreclosure under contract that is a new home and it should/could have sold a year ago for close to $300K and we got it for under $200,000.  This is a great deal and if you want to know where it is located let me know. There are a couple more homes in this subdivision and the bank is willing to deal.

Over the past year or so more and more buyers are regularly calling me and asking where all the bargains are in foreclosed and or short sale homes in Gwinnett and surrounding counties. Well, the simple answer to that question is to start getting an email list of homes that I can provide that shows what homes are currently bank owned and ready for a great bargain if you know what to do and how to get the best deal.

How do you do that you might ask? Get a qualified agent to represent you in the transaction.  If not me, fine, get someone else, but do not try to get into a dual agency situation on bank owned homes. This is not a time to try and go it alone. Honestly, if you do not feel I am the right person, no problem, I will be happy to refer you to any number of fellow real estate agents out there that are ready, willing and able to assist you.

Also, what I need to stress is that not all the best DEALS are foreclosed homes. There are a number of sellers that “get it” and have priced their homes to sell at extremely competitive prices and are willing to work with Buyers to make the numbers work. I need to stress this again, not all the best deals are in foreclosure!

If Sellers are working with a qualified agent that know what they are doing they will not overprice homes. Once a home is overpriced the likelyhood of it selling in a timely manner is next to zero.  I see so many homes that are for sale that are unrealistically priced for TODAY’s market that will be current inventory for months to come and it is a shame. What this tells me is that either the owner has unrealistic expectations of the current market or his or her agent is not strong enough in their skills to let them know that the home is above market and will not sell. Heck, even if it does get an offer that is acceptable to the Seller the home still needs to appraise for the sales price. I have seen numerous deals fall through due to appraisal issues in the past year.

So here is my thoughts:

1. There are great non-foreclosure deals out there if you know where to look.

2. Not all foreclosures are “instant equity”

3. Find a agent to help you. If not me, let me refer you to someone.

4. Price your home right the first time.

5. See #1

Make it a great day.

Warren Buffett wrote an article on Friday in the New York Times. It’s very simple, direct, and to the point which is typical of his style for sure. Here’s a quote from the article that gets to the heart of it…

A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation’s many sound companies make no sense.

He makes his point using examples from history including the depression of the 1930s. During that season, “the bottom” of the market happened 9 to 12 months BEFORE most people actually “felt good” about it. The market had risen over 30% before most investors re-entered the market.

Buffett’s article was focused on stock investments in US companies, but the same logic clearly applies to real estate investments as well. This is one of the most difficult times in the last 100 years of US history, BUT you can make huge gains in this market if you make your wise investments now.

Hamilton Mill & Gwinnett County are no exceptions. If you look forward 5 t 7 years from now, home values in Gwinnett will have likely doubled from their current levels. If you are in a position to look at the long term at all, a huge gain awaits.

Here’s a link to the entire Warren Buffett Article.

Every now and then a home comes to the market with so much to offer and a price that is hard to beat. 2158 Town Manor Circle in the Town Manor section of Hamilton Mill is one of those homes that has recently been reduced and is priced to sell.

This home is situated on the 7th tee of the Fred Couples designed Hamilton Mill golf course and is located on a perfectly flat cul de sac with a large flat front and rear yard which is perfect for a pool. The home features a chef’s kitchen with a large island, granite counter tops, a keeping room and so much more. The main level boasts a large Master suite, dining room, family room and living room.

Upstairs there are three additional spacious bedrooms and to complete the home there is a huge finished terrace level with an additional bedroom, pool room, entertainment room and a full home theater.

The price has just been reduced to $645,000 and is ready for any size family. If you are even considering Hamilton Mill, then this home has to be on your “Must See” list.

For more information on this or any other home in Hamilton Mill please give us a call at 678-279-4717 or email us at mhermes@diamonddwellings.com.

The Atlanta FMLS listing system (some data may also be from Georgia MLS) reports this data for Hamilton Mill as of July 2, 2008. These are the current active and sales data for the month of June 2008.

Recap: June actually turned out to be a pretty decent month for sales and pending sales after a slow first 5 months of 2008. We are starting to see a improvement in showing activity as well as the number of homes under contract and closed transactions. Sellers are starting to see the fact that pricing your home aggressively can and will drive traffic. We are still in a VERY competitive market and pricing, incentives and flexibility are key factors in getting homes sold.

Current Homes listed for sale in Hamilton Mill: 128

Highest Price Home: $1,250,000 / 2048 Bakers Mill Road (New Construction)

Lowest Price Home: $219,900 / 1490 Ridgemill Circle

Average List Price: $411,067

June 2008 Hamilton Mill Real Estate Sales: 5 (same as May 2008)

Diamond Dwellings Realty Participated in 30% of these closed sales. Market leader in this area again for the THIRD month in a row.

Highest Price Home: Sale Price: $460,000 / 2601 Floral Valley (Short Sale)
Lowest Price Home: Sale Price: $379,900 / 3398 Ridgemill Circle

Current Pending Hamilton Mill Real Estate Sales: 13

While the June sales are not what we’d hoped for in Hamilton Mill — Or all of Gwinnett County, the activity level has picked up as compared to Q1′08 and we have seen an improvement in the “pending/under contract” homes that are scheduled to sell. If you or someone you know is waiting for the market to level out to find that “deal” now is probably the time to take a hard look at your purchase opportunities. Do not wait and miss the bottom.

If you would like additional listing information on any home in Hamilton Mill email us at mhermes@diamonddwellings.com or call me at 678-279-4717. We will be happy to email a list of available homes for your review.

If you read my post yesterday, you already know that this property is a smokin’ deal. We met with no less than 5 potential buyers last night on this Hamilton Mill property & we expect that the seller will receive numorous offers today and tomorrow. The resounding opinion of those that toured the property last night was basically… “it’s even more of a deal than I thought”.

If you are interested in this opportunity, please call Diamond Dwellings asap at 678.279.4707. Here’s a few pictures that I shot at the property yesterday in Glenaire / Hamilton Mill.

We’re talking to potential buyers everyday who are “waiting for that perfect deal”.
This is one of the few truly undervalued opportunities.

If you are a potential buyer for a SWEET DEAL in the $400s. Read This…

So far this year in Hamilton Mill there have been only 2 or 3 houses come onto the market that were clearly $100k+ below market value.
They sell VERY fast, so don’t miss this one.

This house just came on the market this morning as a foreclosure. We expect that it will only last a few days before being sold to some VERY sharp buyer.
(note: this is not a Diamond Dwellings listing and we did not set the price)

This home has been on and off the market a few times in recent years at about $600k.
It just came up in our foreclosure listings today at $449k.

It’s a golf course home in Glenaire with a 3 car side entry garage & finished basement.

This home is EXACTLY what many of you have been looking for & waiting for
– at a price that is simply unbeatable.

If you have been waiting for “the right one” — this is very possibly IT!

The last time we saw a deal like this, we were sorry that we didn’t share it sooner with some of our potential buyers. So, here it is!

If this house fits your specs for your new “dream home”. Call Diamond Dwellings right away so we can show you the property and help you write your offer.

If you want to see the house tonight OR tomorrow, call us or send email.
You’ll need to move quickly if you want to be a buyer for this house.

We are planning to tour the home with potential buyers tomorrow at 630pm (Wednesday)
If you are interested, please call us & feel free to join us tomorrow evening for a tour.

Call anytime with questions.

Be blessed,

Matt Fagioli
678.279.4707

A special note to our neighbors & friends…

Many of you reading this may be homeowners that are disappointed about the kind of prices we are seeing in this market. Please know that we are also negatively impacted by the fact that this type of pricing is driving down our property values!
(my personal home is down ATLEAST $50k to $75k in value this year)
Please know that we are only working with the market as best we can.
We do not create — nor can we significantly impact the prices in the market.
If you have any questions or comments about this, I’m happy to receive your call and discuss it further.

Tremendous value for a Hamilton Mill executive home offering six bedrooms, five full baths, full-finished basement, three-car garage, massive master retreat, and details too numerous to mention. For $449,900, this is a Hamilton Mill / Glenaire must-see deal!

Hamilton Mill Real Estate values have stayed flat or gone down the last year to 18 months, yet we all just received pretty strong increases in our property taxes. Diamond Dwellings is doing everything possible to provide great information for Hamilton Mill home owners and Gwinnett County home owners so they can make well informed decisions about how to proceed.

If you do, in fact, contest the assessment of your property, it is very likely that you’ll ultimately need a full appraisal. The appraisal has to be done by a licensed appraiser in the state of Georgia. As part of our effort to help you evaluate the new property tax assessments, Diamond Dwellings has negotiated a fantastic deal for appraisals. You can now get your appraisal for Hamilton Mill homes for just $199. This is a $100 to $200 savings. This deal is ONLY for Hamilton Mill and is only valid for a limited time. (Fyi, two of the appraisers listed below are also licensed real estate agents on staff at Diamond Dwellings)

Chris Giles 770.855.5044 cgiles@bellsouth.net

Anne Davidson 404.406.0769 anniega@bellsouth.net

Matt Row 678.687.1104 proapprs@bellsouth.net
NOTE: Diamond Dwellings is NOT a licensed appraisal company & we do not profit from any appraisal services.

HOWEVER… Diamond Dwellings is offering a pretty sweet savings opportunity with these appraisals.

Here’s the deal…

If you buy or sell real estate anytime during 2008, Diamond Dwellings will refund the appraisal fee at closing

– for any appraisal purchased within the next 90 days (Not after July 31, 2008).

*the appraisal must be purchased from one of the appraisers listed above.

**Diamond Dwellings must be representing you in the transaction contemplated above.

Here’s a new listing that we’re very excited about! 3 car garage and finished terrace in the mid-$300s.

Check out the video to see more.