KCR Named in “Top 100 Most Influential” in Georgia

top-100-most-influential-real-estate-agents-logoKaren Cannon Realtors (KCR) has recently been named one of THE 100 MOST INFLUENTIAL REAL ESTATE AGENTS in Georgia by Real Estate Executive Magazine. This award, which recognizes and celebrates outstanding customer service, hard work and thriving realty companies, will be presented at the Atlanta Mastermind Summit on November 17.

THE 100 MOST INFLUENTIAL REAL ESTATE AGENTS award is associated with the annual Mastermind conference—a dynamic event designed to share tools to help successful, experienced realtors break through to the next level. Mastermind 2016 was hosted by Tony Robbins, world-renowned business leader. Past Mastermind hosts have included Shark Tank’s real estate mogul, Barbara Corcoran and President George W. Bush.

“It’s an honor to be recognized by Real Estate Executive Magazine as being a top influencer in our area of expertise. We love what we do,” said Karen Cannon, founder and owner of KCR.
“We’re not only in the real estate business. We’re neighbors—we know our communities and that makes the difference.”

The KCR team continues to strive to be the local experts, specializing in Dunwoody and Sandy Springs and everywhere from Midtown to Milton. They are setting new standards of extraordinary service which has earned them the reputation as the most trusted and fastest growing independent real estate firm in North Atlanta.

Renovate / Relocate – October Newsletter

Dear Karen,

With interest rates so low now and the market being so good, how do I know if it’s better to put money into improving my house or just move?

Sincerely,

Renovate or Relocate

Dear Renovate or Relocate,

Great question and one I get a lot these days! There are many factors to consider:

1) You want to make sure you do not over-renovate. For instance, it may not make sense to do a 200k renovation if you are going to price your home out of the neighborhood. 

2) You want to consider how long you think you might be in your home. If you move within a year or two, you may not be able to recoup the costs when you sell.

3) Also, consider whether you’ll be able to live in your home while the work is being done or if you have to move out temporarily. Can your marriage/family life handle the stress of a big renovation? Or are there smaller renovations that can improve your value but not be as intrusive? All these things should be taken into account as you contemplate renovating vs. moving-we’re here to help with those kinds of questions!

If you have a question for Karen, email us. You could be featured in an upcoming newsletter.

Check out our Ask Karen series & 3D Open Houses of all of our available properties.

The Home Equity Playbook

paoctober2016digitalmarketingcampaignlinkedinimage-1476136834673What is Home Equity?

Home equity seems to be a very simple calculation — the total amount of mortgages owed subtracted from the current market value of a home. Here is a simple example:

Current Home Market Value                    $325,000
Existing Mortgage                                       $225,000
Homeowner Equity                                     $100,000

One side of the equation is well defined, and it is found on the monthly mortgage statement, the loan balance. The other side is less obvious — the current market value of the property. The most accurate measurement of market value requires a comparative market analysis from a real estate professional.

Putting Home Equity to Work

Home equity represents the largest single asset of millions of people, and because it represents so much of an individual’s net worth, it must be treated with respect. Home equity is not a liquid asset until a property is sold, or it is borrowed against.

There are two types of loans that tap into homeowner equity as collateral.

Home Equity Loans

Many home equity plans set a fixed period during which the person can borrow money, such as 10 years. At the end of this “draw period,” the person may be allowed to renew the credit line. If the plan does not allow renewals, the homeowner will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period, for example, of 10 years.

A home equity loan, sometimes called a second mortgage, usually has a fixed rate and a set time to pay it back, generally with equal monthly payments.

Home Equity Line of Credit

A home equity line of credit is similar to a credit card. The lender sets a maximum amount you can borrow, and you can draw money as you need it, though many home equity lines of credit require an initial draw. The interest rate varies daily, and is usually prime plus a set number, but the required payment is usually interest only. Once the loan has been paid down, the payment is reduced, and it can be paid off and initiated as many times as a homeowner requires.

How Much Equity can be Accessed?

Since the financial institution is lending money and using a home as collateral, they will typically loan 80% of the home’s equity. The bank does not want to take the risk that if the house price drops, they would be carrying a loan for more than its market value.

Here are some good ways to use money from a home equity:

  1. Invest in Your Home – Among the very best returns on your investment (ROI) include kitchen and bathroom remodels, adding square footage or an extra bath, enhancing curb appeal and repairing/keeping the existing structure sound.
  2. Invest in your Children’s Education – Using your home equity to finance a child’s higher education may be the greatest pay off of all.
  3. Supplement Retirement Needs – At retirement, when monthly income is reduced, a home equity loan could pay for a dream vacation or an unexpected major expense.
  4. Augment the Impending Sale of a Home – If you’re planning to sell soon, a home equity line of credit may be the best way to finance improvements to maximize your selling price.

On the flip side, avoid buying luxury items, assets that depreciate like cars and boats, don’t make investments in financial markets, and do not pay routine monthly bills. You should treat a home equity loan as an investment and not as extra cash when making financial decisions.

We Are Happy to Assist You

If you would like an assessment of the market value of your home and the current equity you can access, give us a call for a comparative market analysis.

8 Smart Home Technology Trends that Can Save You Money

pa-september-2016-digital-marketing-campaign-linkedin-imageThe ‘smart home’ is the new ‘internet of things’, or objects that can serve you better by communicating with each other or directly with you through apps on your smart phone. In the ideal version of the wired future, all of our appliances and gadgets talk to each other seamlessly.

What could living in a smart home look like? Picture something like this:

The lights in your bedroom slowly illuminate to quietly awaken you in the morning, replacing the typical blaring alarm. The aroma of fresh brewing coffee drifts in and stirs your senses. Once the lights are all the way up, the heating system kicks on, just in time to warm up your room so you’re not shocked once you crawl out from underneath the duvet.

When you step into the shower, it turns on automatically and remembers your preferred temperature and water pressure. And it will shut off right when you’re finished as it knows how long you take to bathe.

Once you’ve driven out of your garage, your home alarm system arms itself. And it will only unlock automatically when it “sees” and recognizes someone else from your family approaching through programmed in bio-metrics.

Do smart homes really work this way right now? Not exactly…while you may find some of these smart features in certain homes, we haven’t reached the point where every feature intuitively knows what you want and when you wanted. However, each year we’re getting closer and closer toward that shiny, idealized ‘Jetson’ future.

Here are some trends that we see for smart homes, many of which may also help you save money:

Smart Thermostats

Programmable thermostats that are synchronized with the clock have been around for decades. However, they’re often difficult to set and aren’t necessarily efficient; they simply turn on or off as programmed, whether or not you are there.

With the newer models, smart thermostats can be programmed to adjust the temperature when they sense you are present. And once you leave, they can kick back to standby mode so that you’re saving energy and money. Nest does all of this, and it also allows you to check your usage from your cell phone so that you can adjust the temperature remotely and save even more.

Smart Smoke Detectors

Having a working, effective smoke detector saves lives. But unfortunately, many of us still have those battery-run smoke detectors that make that annoying, piercing beep when their batteries are running low on power. And instead of replacing batteries right away, it’s often easier to pull them out and disable the detector (while risking our lives).

Many of the new smart smoke detectors, like the Birdi, monitor smoke, carbon dioxide, as well as air quality. With this new sensor technology, they know the difference between a real fire and burnt toast.

Smart Sprinkler Control

Weather in our area is predictably unpredictable. Often, especially during the summer months, we fall into a severe drought. But then we might have one season that brings extreme amounts of rain, like we did this past spring.

A smart sprinkler controller like Rachio Iro can not only help save you lots of money on your water bill but also help protect our precious resources.

Programmable by computer or smart phone, it can automatically adjust how often you water your lawn based on the season and the weather forecasts. You can also remotely adjust the settings through a mobile app.

Smart Solar Panels

You can put the sun to work for you by using solar technology to power your home. It’s green and renewable, and can save you money over the long term. A recent study conducted by the NC Clean Energy Technology Center determined that Austin customers who invested in a solar system saved an average of $66 per month during the first year that they owned the system.

With smart solar panels, you can program the technology to monitor their performance and even turn them off in case of a weather emergency or fire.

Smart Home Security Systems

Home monitoring has become much more sophisticated in recent years. With the old-style security systems, you had to call in contractors to wire your home with monitoring sensors.

With new smart technology, you can simply place a few smart devices in your home to monitor movement and sense whether doors and windows are closed or opened. Some systems include audio and video monitoring, as well as sirens to scare off intruders. You get real-time feedback on security breaches through an app. And, because you’re alerted as soon as the system senses an intruder, it’s more likely that they will be caught.

Canary is one popular all-in-one audio-video security system, complete with sirens and night vision.

Smart Locks

Go beyond the standard key locks, which can often be compromised by burglars. The new smart lock systems give you more control over those who can gain access to your home.

Some systems, like the Kwikset Kevo, include encrypted virtual keys that you can program for access for a limited amount of time—for example, allowing guests over for a weekend, or cleaning service in during a specific window of time.

Other door locking systems include biometric technology. The Ola Smart Lock allows you to program your lock to recognize your family member’s fingerprints. Other systems use facial recognition to greet you and unlock your door.

The new August Smart Lock integrates with Apple’s technology so you can ask Siri to open your door for you.

Smart lighting systems and light bulbs

A well-lit home feels warm and welcoming, and good lighting can instantly increase the value of your home.

However, annual lighting costs can account for up to 12% of your overall electric bill, or over $200 per year according to Energy Star. You can easily reduce this expense simply by using smart lighting technology to add efficiency.

The Philips Hue wifi-enabled lights make it easy to add to your home without installing specialized equipment. Smart lighting dimmers and sensors can give you more control over how much energy you use and allow you to turn them on and off through your smart phone.

New smart light bulbs can give you control over the warmth or coolness levels of your lighting. With the Lifx LED Light Bulbs, for example, you can program your light bulbs to turn on or off when you want, to slowly wake you up with increasing illumination, or to change from daytime work lighting to entertainment-friendly shades for parties.

Smart Appliances

Programmable slow cookers and coffee makers are the quaint, old-fashioned versions of these home conveniences. Newer, smart appliances give you more control over how your food is kept and prepared, and make it easier for you to complete pesky household chores.

  • Newer coffee makers, like the Smarter Coffee Machine, let you ‘order’ your coffee exactly to your liking, adjusting everything from bean grind to temperature to strength to time that it’s ready to drink.
  • Smart refrigeration technology can help you store your food at just the right temperature, adjusting the thermostat during peak usage times. For example, the LG THINQ Fridge can alert you via smart phone app if a door is accidentally left open.
  • Smart ovens can ensure that your food is cooked to the right level of done-ness, and alert you when your meal is ready to eat. June, a new counter oven invented by former Google, Apple, Go-Pro and Path employees will give you even more control—it will contain cameras, thermometers, and other technology to ‘learn’ what you like to eat and make menu suggestions.
  • Smart washers and dryers have customizable controls so that you can safely wash any type of fabric. Some units include controls to increase drying time to save energy. And soon, connected appliances from GE, Oster, Samsung, and other makers, will be able to re-order soap and fabric softener directly from Amazon, so you won’t even have to think about running to the store at the last minute.

Have you tested any of these technologies in your home? Did we miss any of your favorite home technologies? Let us know in the comments!

Don’t Get Burned – Get a Home Inspection

PAAugust2016DigitalMarketingCampaignSocialMediaImageSave Money on Your Next Purchase

Buying a home isn’t like buying a toaster. If you discover something’s wrong with your new home, you can’t return it for a refund or an even exchange. Purchasing a home is an important investment and should be treated as such. Therefore, before finalizing anything, your ideal home needs an inspection to protect you from throwing your hard-earned money into a potential money pit.

What Is A Home Inspection?

 A home inspection is a professional examination of a home’s roof, plumbing, heating and cooling system, electrical systems, and foundation. Because the average cost of a home inspection runs around $316, but can help you avoid expensive issues like faulty wiring or a leaky roof, getting one ultimately will help you save money.

There are two types of home of inspections. There’s a general home inspection and a specialized inspection.

If the inspector recommends a specialized inspection, take that advice because you want extra assurance that you’re making a wise investment. The cost of the specialized inspection varies from type to type.

What A Home Inspection Can Find

Roofing problems are one of the most common issues found by home inspections. Roof repair can range between $316 and $1046, but to replace a roof entirely can cost between $4,660 and $8,950.

Don’t underestimate the plumbing. Small leaks can cause damage that costs between $1,041 and $3,488 to repair. Have a specialist check out the sewer system because you don’t want to fork out thousands of dollars for repairs the first year you own your home.

Ensuring the home’s heating and cooling system is working properly is very important. You don’t want to throw down $3,919 to replace an aged furnace. Nor do you want to spend $5,238 replacing an ill-working air conditioner. Replacing and repairing a water heater gets pricey too.

The foundation is so important that if the general inspection report shows foundation problems, lenders will not lend money on the home until those issues are solved. Foundation repairs can reach as high as $5,880 to repair them.

How Much Money Can a Home Inspection Save You?

A home inspection helps to find potential expenses beyond the sales price, which puts home buyers in a powerful position for negotiation. If there are any issues discovered during the home inspection, buyers can stipulate that the sellers either repair them before closing or help cover the costs in some other way. If the sellers do not want to front the money to complete the repairs, buyers could negotiate a drop in the overall sales price of the home!

Perhaps even more importantly, a home inspection buys you peace of mind. Your first days and months in a new home will set the tone for your life there, and you don’t want to taint that time with worries about hidden problems and potential money pits.

Work With a Professional Realtor

Are you in the home buying process? G in touch with me today! I’ll help you find a bona-fide home inspector, and give more useful home inspection tips. I’m here to help you save money, not throw it away.