A Second Look at East Cobb Homes

We talked about 3 East Cobb homes on April 14, 2008. Two of them were judged to be tough sales secondary to price and condition.

Let’s take a look at where they are now 80 days later.

MARIETTA FORECLOSURE STILL FOR SALE

Located in the Wheeler school district, 13 Weatherstone Parkway is a foreclosure priced at $259,900. UPDATE: Price has dropped $30,000. Now listed for sale at $229,900. The house sits atop a hill on a corner lot and features an in-ground pool.

My client learned that foreclosures are a lot more, a lot less, not always what they seem. The in-ground pool is empty, the liner torn, and more closely resembles a terrarium.

The private backyard is certainly private with months of overgrown neglect.

What I learned: the bank foreclosed in November 2007 for $238,000 and listed the property for sale at $299,900 - market value for move-in condition. Huh?

PRICED TO SELL IN MARIETTA! RIGHT ON THE MONEY, SOLD AND CLOSED

The next house on our list was 451 Springs End Lane. It is smaller than the foreclosure and has a “drive-under” garage. (A drive under garage is a garage in the basement level with additional room for storage or living space.)

One of the many features of this home is the exterior living space - a screened porch off the family room and adjoining deck. Every room was prepared for showing with lights on and no distracting clutter.

My client learned her emotional response to a well maintained house (set within the first 10 seconds of entering) prompted serious purchase consideration.

My experience was affirming. Listing agents who know how to get houses sold in a tough market counsel sellers on target pricing ($225,000) and staging. UPDATE: Purchase offer accepted just a week after this was posted. Sold for $215,000 on May 15, 2008.

STILL WAITING FOR A BUYER IN MARIETTA

A candidate for Bad MLS Photo? Sure. But the listing agent for 4415 Kings Way deserves a great deal of credit for capturing a picture that doesn’t scream this house sits below street level.

Priced at $259,900, this seems like a good deal for a house in the Sope Creek, Dickerson, Walton school district. My buyer learned - even before we got out of the car - that preventive maintenance had been long deferred. UPDATE: After 6 months on the market, this listing expired May 14 - still priced at $259,900. The house is listed with a new price -$250,000 - and a new photo.

Is there a house in here somewhere? Why did the agent think this was a better photo?

Wood rot is evident at the door frame, fascia, siding and window trim. The interior is dated (1980). Every room demands updating, which is reflected in the price.

The space over the garage (which adjoins the master suite) has been finished out with a stairway down to the garage. It’s unclear what function this space would serve in the future.

SELLERS TAKE NOTE: Target pricing is the key to getting your house sold in a slow moving market.

Cobb County Homestead Exemptions Due March 1

Homeowners have until March 1 to apply for a homestead exemption for this tax year and may apply for homestead exemptions by mail. Applications must be received or U.S. postmarked (a metered postmark is not accepted as proof of timely mailing) by March 1 to receive the benefit of the exemption for that year.

Homeowners must apply for all exemptions for which they are eligible; thereafter, exemptions are automatically renewed each year unless there is a change in ownership or eligibility requirements are no longer met. It is not necessary to reapply if the home has been refinanced.

The applicant’s name must appear on the deed and they must occupy the property by January 1 of the taxable year in order to qualify. Most new property owners will receive an application by mail at the first of the year.

Application forms and information are available at the city's Web site, mariettaga.gov, or by calling 770-794-5680.

Cobb County homestead exemption information is available at cobbtax.org or 770-528-8600.