SUWANEE TALK!: April 2008

Quoting Paul Pastro from a recent article in "Broker Agent News.com", "No matter how fast the dog runs, it will never catch the car. The dog will never slow the car down. And, the dog will never bite a moving tire. What must the dog be thinking?"                     

What a great analogy when we compare his statement to what we are seeing take place in the market today. The current state of the real estate market has been a crash course for all of us; brokers, agents, sellers, buyers and the banks!  Even investors who thought they had paved their road to gold are scratching their heads  wondering what the heck happened. But let's face it, we know what happened and it's time to get past how did we get here and face the music. It is time to deal with what is on our plate as an industry....and, a consumer. That is.......if we want to sell houses; and, as a homeowner you want your home to sell! 

Why is it there are sellers who can face the music and then there are others who can't even hear it?! Agents absolutely understand there is an emotional attachment to our homes and when it comes time to sell, we all like to think we have the cream of the crop...the best of the best...the creme dela creme! And...may be that is true. But the reality is that buyers are not going to pay yesterday's prices in today's market.

                                                                                                                                                                             If you really, really want to sell...and, in a relatively short time period, no matter how great a house you have, you need to price your home properly (according to Paul Pastore, 10% below market); and, your home must be pristine! Taking the posture to price high, we can always come down later is not going to work today. If you currently have your home on the market and you are getting no showings you are probably priced too high. If you are getting showings and no offers, you are probably priced too high. And, keep in mind, the exposure your home SHOULD BE getting on the internet is providing the consumer with so much information, you must sell your home's value there before they will walk through your door.

Don't be faced with lost opportunities to sell by listing high and then be faced with a price reduction. Best opportunity to sell your home is when it is a fresh listing. If you are serious about selling your home in today's market don't be "the dog chasing the car." Price your home to sell from the beginning. Have your home pristine and even in today's market you should have success! And then everyone has something to smile about!!!

Fannie Mae originated back in 1938. Fannie Mae operates in the secondary mortgage market buying mortgages from lending companies.  With our real estate market experiencing a colossal correction due to the sub-prime disaster, lending guidelines continue to change...and, rightfully so.

As a buyer, you are empowered when you have knowledge. A recent change made by Fannie Mae will effect how you or your agent negotiate your offer. If not done correctly, you may end up on the short end of the stick when it comes to securing your loan thereby possibly ending up with no loan or house.

Fannie Mae has announced a recent change regarding seller concessions. Previously some sellers, builders and/or developers would be willing to prepay, on behalf of the buyer, the HOA fees and/or assessment fees. In some instances, the builder and/or developer (sometimes the seller) would be willing to abate the mortgage payments on behalf of the buyer. No more! Fannie Mae will no longer purchase loans from mortgage institutions with these conditions. Additionally, seller concessions such as decorating allowances, furniture etc. will effect the loan amount the lender is willing to provide.  For instance, when calculating loan to value ratios to determine loan amount IF sales concessions such as a decorating allowance is part of the agreement, this amount will be deducted from the sales price or appraised value, whichever is less. End result? It will reduce the amount available to loan on the house. 

What hasn't changed is the finance concession surrounding the contribution towards closing costs and prepaids by the seller. These concessions will still be allowed. So, when you get ready to buy a house be sure to ask questions of your mortgage lender and be sure you understand the guidelines. Equally important, your realtor needs to be informed and know the guidelines as well. Since he/she is in the forefront of the process, if they have negotiated allowances similar to what has been mentioned above, you may find yourself in a complicated situation in securing a loan. Be an informed consumer! 

When Money Magazine rated Suwanee, GA as the #10 best place to live in the United States, they had one objection. For those of us who live in Suwanee, you won't have any problem guessing what the one objection was...You got it! It is the commercial district along I-85.

But the city officials of Suwanee were already making plans to give this particular area a desperately needed face lift. As the project evolves, thanks to the continuing support of Suwanee residents, this area will exhibit a dynamic multi-purpose commercial development; thus, providing our city with a distinct gateway to the place we are all proud to call home...Suwanee!!

The city is prepared to put millions of dollars into this area. The money will be acquired as a result of the citizens saying, "YES" to the continued improvement of our city. As a Realtor, we are told, "Location, location, location!!" And, thanks to the tax allocation, we have "LOCATION, LOCATION, LOCATION!!!" This will help the city in its continued growth. And, as a result, homeowners can feel secure that, where the city is concerned, they are doing all they can to create the live, work and play environment we all take pride in.

The Suwanee Gateway plan will include the following:

• Improvement of transportation infrastructure
• Improvement to the streetscape making it more viable for pedestrians
• New office/commercial sites
• Infrastructure improvments
• Co-op branding and marketing
• Discontinuation of areas that no longer serve the community
• 148 acre site with 350,000 sq ft of retail/restaurant space
• 580,000 sq ft of office space and full service hotel
• 700 residential units

You will see the first buidling completed by the end of this year.

Suwanee has come a long way over the past several years. It is my opinion that the City of Suwanee has done an excellent job in creating a live, work and play environment for its residence. Among many of the improvements, is Suwanee Town Center. A focal point to our community and a "hot" spot for our community. If you have had the opportunity to enjoy any one of these merchants, I hope you will share your experience in the comments area provided below.

SUWANEE TOWN CENTER

Restaurants and Fine Shopping

Olde Towne Tavern & Grille - The tradition began in 1996 in Kennesaw, GA building a reputation on uncompromising standards and excellent food.  The corner anchor to Suwanee Town Center shops and restaurants, this quaint eatery provides an exciting atmosphere and great food! The menu   offeres a wide selection that will appeal to the taste buds of just about anyone! The cocktail bar is a focal point with its unique ability to literally open to the outside patio during warm months making this the place to be to enjoy the many free outdoor concerts that take place in the park throughout the summer....but come early for the best seat! (770-945-3737)

vboggs galleries fine art and wine - Bringing together the taste for fine wines and beautiful art. vboggs galleries is the signature gallery for nationally recognized and published artist, Linda Lindeborg, fine art colorist; and, Tiffani Taylor, mixed media artist and Magna Cum Laude graduate of SCAD. vboggs galleries also prides itself on being the liaison between artist and collector. And for wine lovers, come see what vboggs galleries is pouring in the Barrel Room. Providing wines produced by wine artisans most of the wine offered is limited case production, boutique wines. Fine wine and beautiful art! For the connoisseur of wine or art; or may be, beginning the exploration...come enjoy a walk through this unique and inviting gallery. (770-271-8448)

Five Guys Burgers and Fries - Originally started as a family business some 20 years ago in Arlington, VA by...yes, five brothers! Their goal? To sell burgers! But not just any kind of burger. The BEST burgers! As the signs in the store proudly proclaim: "100 percent American beef, lean, fresh, never frozen, no fillers, no preservatives." Come meet the friendly staff! Enjoy a fresh to order cooked burger and their yummy fries. The red and white checkerboard tiles add a bit of nostalgia to the restaurant; and, there is ample seating inside as well as outside. While you wait for your order, enjoy a bucket of freshly roasted peanuts which await you at each table. If you haven't had a burger from Five Guys Burgers and Fries then you haven't really had a burger. Come see for yourself. (770-945-4670)

Rita's -The first Rita's was opened in 1984. Rita's features all the things that make your mouth water: Ices, ice cream cones, shakes and many other tasty delights. Rita's Italian Ice's are made fresh each day and made in over 30 different flavors. The old-fashioned Frozen Custard comes in chocolate and vanilla with your choice of a cone or a cup. The famous Gelati is a frozen dessert with both layers of Italian Ice and Frozen Custard. And, don't forget the Misto (shakes). They are a blend of Italian Ice and creamy custard. YUM! Your choices are limitless! There is no better place to enjoy something cool during hot summer days than Rita's. Come see what everyone is talking about. (678-765-2889)

PJ's Coffee of New Orleans - This quaint coffee shoppe embodies a casual, yet sophisticated atmosphere, uniquely offering fine coffee and wine, along with Panini-pressed sandwiches, salads, tapas, freshly baked pastries and tempting desserts. Famous for its deliciously smooth New Orleans-styled iced coffees, signautre coffee drinks and granita, PJ's also offers blended velvet ice, Italilan sodas and all natural fruit smoothies. Join PJ"s for live jazz-based music on Wednesday, Friday and Saturday evenings. Free Wi-Fi is always available. (678-373-13440)

Sweet Temptations Coffee & Desserts - Originally opened in 2002, privately owned Sweet Temptations offers coffee that is fair-trade, organic, shade-grown  and roasted to order by Cafe' Campesino of Americus, GA where all their coffee is roasted upon order. Many of the pastries and cakes are baked by local commercial bakers. The menu also includes: Hand dipped Edy's Ice Cream, Fair Trade Coffee & Espresso, gourmet breakfast and lunch, delicious pastries and cakes. Catering is also available. Come experience the difference. (678-482-8241) 

Ippolito's Italian Restaurant - Specializing in Italian cuisine for approximately 18 years. Ippolito's is a friendly place which is perfect for family dining and offers a casual, lively atmosphere. The menu includes endless pasta dishes, calzones, pizzas, sandwiches as well as veal and seafood entrees. The garlic rolls are mouth-watering and come with marinara sauce for dipping (upon request). Come hungry....the portions are generous!! Leave FULL!!! Great food, great fun...Ippolito's! (678-985-4377)

Sol Interiors - Sol Interiors is owned by Esperanza Koop. Relocating from New York she now calls Georgia home. A graduate of the Art Institute of Atlanta in interior design she brings her own natural talent, acquired skills and 10 years of experience to Sol Interiors. The shop is a collection of traditional classics and modern elements. Come take a leisurely stroll through the wonderland display of beautiful home furnishings. The shop is not limited to just home decor' but also offers one-on-one consultations to help bring all your ideas together. Consultations One lasts approximately one hour at a nominal fee fo $100. For more information on Consultations, contact Sol Interiors. (770-945-2171)

Hairllucinations -  A Paul Mitchell Signature Salon, Hairllucinations is an upscale salon which offers personalilzed care for both mena nd women. The salon features Schwarzkopf hair color and Pureology products. Services of the salon include: haircuts, hair color services, starightening, waxing and tanning. (770-932-9999)

Executive Barber - Executive Barber prides itself on a highly trained and professional staff. Training is ongoing to enable them to master the latest in hairstyling for both men and children. For a real treat, relax and enjoy being pampered while you experience a hot lather neck shave! With over 25 years of experience, you will be glad you visited Executive Barber (678-546-2288)

                          

Over my 20 years as a Suwanee resident I sure have seen A LOT of changes. I like what I am seeing, but it does give me pause to take a moment and look back... and, remember when? Here is what I remember. I hope all you Suwanee locals will share with me your "I remember when". Let's just see how far back our memories can take us:

1. Nobody even knew where Suwanee GA was -  let alone have our city rated #10 best place to live in the U.S.
2. Suwanee Elementary was the only elementary school feeding into North Gwinnett High School
3. Peachtree Industrial was two lane and lined with nothing but trees
4. There were NO subdivisions, no retail, no restaurants to be found along Peachtree Industrial
5. There was No McGinnis Ferry in Gwinnett County
6. The only park was the county park - George Pierce Park
7. Lawrenceville-Suwanee bridge was two lane
8. No Super Wal-mart
9. Satellite Blvd. didn't come through Suwanee
10. There was no Publix
11. Kroger was our only grocery store
12. Pierce's Corner WAS an antique store
13. B&G Florist opened as the first floral shop in Suwanee
14. The USPS was on Buford Hwy
15. No corner drug stores
16. McDonald's was our only fast food restaurant (my kids loved it)
17. We could go every Christmas to the Christmas Tree Farm off Smithtown Road to diligently and methodically select THE perfect Christmas Tree and cut it down ourselves (those were the days!)
18. Suwanee Days Festival was held in Historic Suwanee
19. The antique store at the corner of Russell Rd and Buford Hwy...until it burned down...it had beautiful oak antique furniture
20. There were no city parks to take your kids to ride bikes or walk along the Suwanee Creek to enjoy the beauty and sounds of nature
21. There was no Suwanee Town Center with great restaurants and specialty shops

**I'm sure I am forgetting more than I am remembering. Scroll down and share your memories...if you don't see the comments section....Click on the "Comments on ActiveRain" and post your memories in the space provided.  Let's just see how long our list can get! Thanks for sharing! 

                                                               
                                                               Come to my house
                                                            MySuwaneeHome.com

Have you ever wanted to express your gratitude to someone who has gone out of their way to do something above and beyond the call of duty? I know that sounds like a rhetorical question. I am sure for most of us the answer is "yes!" It seems like no matter what words you come up with, they just don't measure up with the sentiment you are trying to express.

Since joing AR, I have had the privilege to "meet" some very nice and generous people. As I have tried to muddle my way through understanding the blogosphere I found I often had more questions than I did answers. To my rescue...George Tallabas - Idaho Real Estate.

My first question started with asking him about the search buttons I noticed on all his posts. Once I had that answered I found I had so many more questions to ask him. He is a fountain of information...and, so willing to share his knowledge AND take the time. I have been thoroughly impressed!

So...George, to you my friend.... THANK YOU!

Janice Slaven