Lions and Tigers and Appraisals - OH MY!

Appraisals are a real Bear these days.

Take our most recent experience (please).

Beverly's buyer was under contract to purchase for 230K. The appraisal (to the surprise of all) came in at 209K. Wow, a $21,000 difference!

The problem:

The comps used by the appraiser were valid, but it just so happens that most comps were foreclosures, which the appraiser is obligated to use in the analysis, particularly since there weren't any "traditional non stress comps". So, the seller has a choice - either adjust the price to the appraisal price so the buyer can get the loan, or just not sell to this buyer. Keep in mind, the next buyer may have an appraisal that comes in even lower. And, one more little known secret. IF the first appraisal was for a FHA loan, this FHA appraisal will be assigned to follow the property address for six months. The Seller would then have to sell to a conventional loan buyer in order to generate the new appraisal process. Do you know how many conventional loan buyers are out there? A conventional loan buyer must put 10-20% down vs the FHA buyer who puts 3.5% down. FHA buyers far outweigh the conventional buyer in this market and price range under about 350K.

Here's how we worked it out:

The investor seller agreed to adjust his sales price to 213K, which is still higher than the appraisal price but still allows a profit. The buyer agreed to pay all the closing costs, relieving the seller of the $4K obligation previously agreed and will pay the difference of appraisal price and sales price of 4K. The buyer has a net increase of $4200 after adjustments are made for difference in down payment amount, but will buy the home for 17K less than expected.

Win/Win for everyone. The neighborhood value is helped. The buyer will have a home. The seller/investor will move on to another investment. The lender, closing attorney, realtors, carpet company, granite installers, appliance company, general contractor, HVAC company and countless other related entities will all get paid. Don't try this with everyone. Reasonable buyers and sellers are required. (And a little BEE power!)

If the Crepe Myrtles are bloomin'..it's July in Suwanee

Every July in Suwanee, I am treated to rows of these beautiful ornamental trees, called crepe myrtle's. They are often used in the medians of two lane roads like you see here. People love the way they look....I love the way they taste!

They come in lots of different colors...white, pink, rose, purple and lavender. I don't know the official names of the colors, but white, pink and red are the most common. I just saw a color a new color....a very deep, but bright red. I haven't tried that one yet, but white tastes the best. Beverly's favorite color is one I don't see often either. A rich vivid purple.

Birds like them too!!

They are also used as landscape accents like here:

If you see blooming crepe myrtle's, you'll know it's July in Suwanee!!!

Enjoy! I sure do.

Suwanee Did it Again

Suwanee showed up again on Money Magazine's Best Places to Live List.....#35

I'm guessing, if you have to be on a list, this is a good one. Yep, #35 on Money Magazine's Best Places to Live. I'll vouch for that. Acutally, it's #1 on my list.

Can you see me in that famous Suwanee Town Center picture? I was there! Were you?

Georgia Driver's License Make Change

Please see recent article below, dated 7/9/09 from Atlanta Business Chronicle:


According to the Atlanta BuPeach State drivers licenses are getting a makeover to prevent fraud. In fall, Georgia Department of Driver Services will issue new and improved driver’s licenses and identification cards. The new cards will combat document fraud and protect the identities of Georgia residents by using the latest credentialing technology, GDDS said.
The new licenses and IDs are designed to be more difficult to counterfeit, alter or replicate. The license will remain roughly the size of a credit card.

The new cards also have several security features including ghost photos, a laser-engraved signature over the primary photo to minimize alterations and a tamper-resistant coating placed over the card. The cards will have machine-readable bar codes that can be used by banks, retailers and other businesses to verify the information printed on the front.
Cards issued to those under 21 will be printed in a vertical format, aiding retailers and law enforcement in identifying minors.

New card production will begin at Conyers, Covington and Locust Grove in September. Statewide implementation of the new system is scheduled to take two months with all customer service center locations producing the new cards by the end of November.

All previously issued Georgia licenses and IDs will remain valid until the expiration date when they will be exchanged for a newly-designed card.

License and ID fees will not increase, and customers will still be able to choose between a five-year or 10-year license or ID.


Check out my future new license Hey! I don't have a license now, but I plan on taking my test soon......

REO-what does that mean to you?

REO's Real Estate Owned Property...That's a bit boring, don't you think? In Beverly's world, REO references bank owned properties that weren't successful selling on the court house steps.

REO Speedwagon...now that's a lot more fun. Beverly and I went to this neighborhood get together and ran into, of all people, a backup drummer for REO Speedwagon!!

You couldn't be expected to know this, but besides Journey and Foreigner, REO Speedwagon is Beverly's all time favorite band. I know, I know, most Gen X'ers have no idea who I'm talking about. Find out how REO Speedwagon got their name....

Now that I think about it...why do I know these people as young as I am? Oh....because Beverly makes me listen to them.

Anyway, let's just say, Beverly was thrilled to run into a REO Speedwagon backup band member. And, in Suwanee, GA! You just never know who you will run into in Suwanee. Maybe, REO Speedwagon will play at the Suwanee Town Center Amphitheater.

Heard it from a friend...who heard it from a friend...who heard it from a friend...

Suwanee's North Gwinnett Top of the Class!

Georgia had a total of 51 high schools that made Newsweek Magazine's "Best U.S. High Schools" list for 2009.

And, North Gwinnett High was at the TOP of the Georgia List at #212.

Yet another great reason to live in Suwanee, GA!!

Twelve of the 51 Georgia schools were in Gwinnett County. They are Berkmar, Brookwood, Central Gwinnett, Collins Hill, Dacula, Duluth, Grayson, Mill Creek, Norcross, Parkview and Peachtree Ridge.

Click here to learn more about the Challenge Index, the rating system used to determine the rankings.

Suwanee Town Center is sooo Earthy

Whoaaaa!! There sure is a lot happening at Suwanee Town Center...restaurants, shops, real estate, new construction, kids playing in the fountain, insurance, dentists, City Hall, coffee shops, etc.



But it's the landscapers that got the attention today. Let's just say the fertilizer was breath-taking. In the words of Lynyrd Skynyrd...OOOO that Smell....can't you smell that smell. Yes, we can!!! And, we did. All of Town Center Park was "treated" today. I think we'll remember this for days to come....

D Day

As we really enjoyed our beautiful, mild Spring day in Suwanee, we were compelled to call our favorite WWII veteran in Suwanee. As a matter of fact, it's the ONLY WWII Veteran we know in Suwanee, Mr Harold Humphries. Not only that, he's the ONLY WWII Veteran we know personally, anywhere. He's a special, fine man that Beverly has respected for many years, long before she realized he was a WWII Veteran.

We asked him what he was doing on D Day in 1944. We were excited to learn that he was safely back in the U.S., for about 30 days, while the USS Hornet, which he was stationed, was being cleaned and repaired, before she was sent back to her honorable duty. Thank you, Mr. Humphries, for your service. And, thank you for sharing your stories with us. It's truly an honor to know you.

You Might be a Suwanabee too!

Ok...you don't have to look like me to be a Suwanabee. As a matter of fact, most people don't.


Beverly Hart, REALTOR who specializes in selling Suwanee real estate dreamed
me up about three years ago. I remember it clearly. She was sitting at her desk, thinking of marketing to people who want to live in Suwanee. Because if you wanna live in Suwanee, then you wanna BEE in Suwanee, so you're a Suwanabee. Remember, Beverly speaks Southern. I know, it's a little complicated, but that's how I was born.


And, if you already live in Suwanee, You're a Suwanabee!! Simple, right? Click here to see what makes Suwanee so special.

What's a Suwanabee???

I get this question a lot. Most people think it's me...THE Suwanabee.


There's a difference between THE Suwanabee and A Suwanabee.


Clearly, I'm THE Suwanabee....cute, huh?


And, I love Suwanee, GA!!