New homes are available in Lake Forest! Lake Forest is located in Perry Georgia.
Search all homes for sale in Warner Robins GA
Call Fickling & Company at 478-953-2244 for more information.
Carlton Ridge South is a newer development and features affordable new construction in Warner Robins / Houston County Georgia. Prices seem to be starting in the upper $100′s range. Carlton Ridge South is located off Feagin Mill Rd. close to highway 41.
See all homes for sale in Carlton Ridge South : http://www.fickling.com/subdivisions/carlton-ridge.html
Media for 221 Royal Crest Circle – Kathleen, GA 31047
Photos:
Beautiful home for sale located in Royal Oaks Subdivision. http://www.fickling.com
For more information call Debbie Ziesenhene @ 478-397-0691
All the January 2012 statistics for property sales including Homes For Sale in Warner Robins GA, and all of Houston County. This report is an in-depth look at the current Warner Robins Real Estate market.
Get you copy by following the link below!
http://blog.fickling.com/warner-robins-real-estate-market-report/
Also, be sure to follow Fickling & Company on Google Plus to keep informed on breaking news in the Warner Robins Georgia Real Estate market. —>
The Warner Robins Real Estate Market Report was updated on January 15th, 2012. The report contains all the statistics for home sales in the last quarter of 2011, for Warner Robins GA and all of Houston County Georgia. Follow the link below to get your copy.
http://blog.fickling.com/warner-robins-real-estate-market-report/
Report prepared by:
Elaine Lee,
Senior Vice President,
Fickling & Company Realtors
Warner Robins, GA.
Why Are So Many Homeowners Under Water?
Guy Gunn
The term “under water” has come to mean that owners owe more on their home than it is worth in the marketplace. So how does this occur?
During the financial troubles of the late 70’s and early 80’s, we saw interest rates peak in the 16% range. I’d have bet anything that we’d never see single digit rates again. Thankfully I was wrong. In the early 80’s, rates dropped to around 12% then bounced upward again for a short time. Interestingly, as long as rates were dropping, buyers sat on the sidelines waiting for the “bottom”. When the bounce occurred they came out of the woodwork fearing a return to 16%. Fortunately that didn’t happen. Instead rates began a slow decline that has continued to the record low rates that we have today.
Along the way an interesting phenomenon occurred—rampant refinancing. In the past, refinancing might signal a financial problem like illness or a wedding that require robbing equity from the family home. As a rule the interest rate and payment went up and the repayment period was extended. It was often a solution of last resort.
But given the unprecedented drop in interest rates, refinancing became a dream- come-true. It meant a lower payment, shorter repayment period or both. Even though borrowers had to pay closing costs again, those costs could be rolled into the new loan so there was no out-of-pocket expense. It was a no-brainer for homeowners.
It was a dream-come-true for lenders too. They’d make a new loan to an old customer and get paid all over again. Furthermore the homeowners loved them for doing it and referred their friends and family. The borrower’s credit was seldom a problem and rising home values resulted in plenty of equity to substitute for down payment. Borrowers often borrowed extra money for home improvements, other major purchases or to pay off other debts. It seemed too good to be true, and you know what they say about that.
Other factors came into play as well. The Tax Act of 1986 eventually phased out the deductibility of all consumer interest except home loan interest. In case you’re too young to remember, there was a time when all consumer interest was tax deductible. Interest on credit cards, auto loans, furniture or whatever, was all tax deductible. When that deduction was lost, lenders got creative, popularized the second mortgage and renamed it the Home Equity Loan. Again, what was once a tool of financial last resort, the second mortgage, became the smart thing to do. Regular consumer debts, like auto loans and credit cards, were paid off with home equity loans. The boat or dream vacation was suddenly possible. Interest was tax deductible and total payments were lower, but the repayment period was longer than a typical consumer loan. Worse yet, those credit card balances had a way of reappearing and eventually, so did the other debt, which was now added to the still-existing equity loan and, of course, the first mortgage.
Twenty-five years ago a good friend, said that the concept of the Home Equity Loan worried him. When I asked why, he said because the equity in a home was the only savings that many Americans had, and mortgaging that meant they had little or nothing left. Prophetic. So what’s the cure for a home equity loan? Why it’s the refinance of course. Consolidate the old first mortgage and the home equity loan into a new first mortgage. The new payment might be lower than the old first and second added together, but this time, the repayment period is extended again. Sounds like a snowball doesn’t it?
Still, rising home values will eventually solve the problem and equity will reemerge. That is unless home values drop. Even then it’s still a place to live assuming the debt is manageable and you don’t have to sell. But what if you do need to sell? That’s when you might find yourself “under water”. You owe more on the home than you can sell it for. Remember all loans (including home equity loans) secured by the home must be paid off when the home is sold, in order to provide clear title to the buyer. Under water sellers find themselves in an impossible situation. Even if they’re not under water or if they can make up the difference out of their savings, they have no equity to use as a down payment on their next home.
The moral to the story is to refinance or use home equity loans with extreme caution. Keep debt on vehicles separate from your home mortgage. That way you’ll have the vehicle paid for before it’s worn out. Items bought on credit shouldn’t be financed for longer than their useful life. Homes last for thirty years or more, but cars, clothes, groceries, and similar items don’t. Don’t use your home like an ATM machine. You don’t want to end up paying for something long after it’s been used up. So avoid increasing the amount you owe on your home or increasing the repayment period. Keep that equity growing. You’ll be glad you did.
Guy Gunn
Senior Vice President
Fickling & Co. Macon Office
2960 Riverside Drive, Suite 200
Macon, GA 31204
478-757-9600
As the real estate market in this region continues to grow and boom, businesses — both major corporations and small start up companies — may begin to question whether they should lease or purchase property for their business to locate. The question is a valid one and the answer is simple – both!
At some point in time, every business has to question whether or not it would be best to own or lease their office space. Whether the business is white or blue collar – from law firms and accounting offices to doctor and dentist offices, a fitness studio or a print shop; a new start up company or an existing business that has been in the market for decades, the decisions will vary.
There are a few basic factors to consider when making the decision to purchase or lease office space.
First, Cash Outlay would be a consideration when making this decision. Generally speaking, a business will not need to put as much money up front when they lease as they would if they purchased. Typically, when purchasing real estate, you would put a down payment of 15% to 20%, which in turn brings immediate equity to your purchase.
Second, you need to consider the Fixed versus Variable Cost factor. If you purchase a building, a business owner will usually know what their costs are going to be from year to year, giving them a clear long term view at this aspect of their business costs. This is especially true when the owner has obtained a fixed rate mortgage on the property purchased. If you lease the property, the business owner will know generally what their costs are for the initial lease term. However, when the initial term expires, the business owner will be subject to market conditions with regards to renewing a lease. Also, many offices leases contain language that allows for annual increase to cover the costs of common expenses to the tenant.
Third, the Growth Factor can bring some concern to a business owner making this decision. Buying a building or constructing a new building that is the proper size for you now can possibly hurt you later. What if your business expands or downsizes? If you purchased, you are faced with the decision of trying to sell the property and find another location. Or, you could lease the entire or a portion of the property out to another business user. If you have leased the property, you are faced with the possibility of being in a long term lease with either too much space or nor enough. This can also be overcome by negotiating with your Landlord to expand in your existing building or possibly buying out of your lease so you can either expand or contract to accommodate your needs.
Additionally, when you purchase a building, you are entering a new business – the business of being a real estate investor – having real estate that will hopefully appreciate – or what we refer to as theAppreciation Factor. This gives you the ability to sell the building, at a profit if you are in an area with appreciating land values, or move out and lease the property to another business user, buy or build something larger than you need and lease a portion to another business user. All of these can be very profitable to the Real Estate Investor.
Finally, an aspect that all business owners deal with is tax issues. The Tax Factor will always come into play when making the decision to purchase or lease office space. In a lease situation, many businesses regularly write off the full amount they pay in rent. Owners of real estate can generally write off many aspects of owning the property – repairs, improvements (depreciated), interest on the loan, property taxes and other qualifying expenses.
Should you purchase or lease? Depending on the type of Real Estate user you are either can be beneficial — just consider the basic factors above when making the decision. There are positive aspects to both purchasing and leasing office space with real estate owners having fixed costs, numerous tax deductions, additional income and the ability to sell over time thus creating a retirement fund. On the lease side, businesses who lease space enjoy more flexibility of finding prime property to locate in, free up working capital and have more time to make their business successful as they can focus entirely on running their business.
Middle Georgia has a variety of office space available for business owners when it comes to making this decision. Properties such as Arkwright Landing and its new sister development, Arkwright Crossing, offers a business owner both. They have the ability to purchase their property and customize a building to meet their needs or lease an entire building or a portion of space in a building. A unique attribute with this development is the opportunity for the business to work with a full service, multi-dimensional real estate firm that has been in the Middle Georgia Real Estate market for over seven decades – Fickling and Company.
Wendy Pierce
Commercial Real Estate Agent
Macon Commercial Office
478-746-9421
Green building (also known as sustainable building or environmental building) is the practice of increasing efficiency of buildings and their use of energy, water and materials, and reducing the building impacts on the environment and human health*. Research is increasingly demonstrating that when buildings are designed and operated with their lifecycle impacts in mind, they can provide great environmental, economic, and social benefits. The elements of green building include: energy efficiency and renewable energy, water stewardship, environmentally preferable building materials and specifications, waste reduction, toxics, indoor environment, smart growth and sustainable development. Green building practices are important to reduce the effects buildings have on the environment.
According to the Environmental Protection Agency (EPA), the commercial industry can reduce energy usage up to 30 percent by improving building operations standards. Through effective use of green building practices, a building can realize reduced operating costs by increasing productivity and using less energy and water, improved public and occupant health with enhanced indoor air quality, and reduced environmental impacts, such as reducing storm water runoff.
So, how can an Owner improve the energy performance of their building? First, with the commitment of improvement through promoting the energy management program, one should implement a policy, set goals for the building, and track the progress. Second, assess performance of the program periodically by evaluating the energy use and establishing a benchmark for future results of efficiency. Third, set goals to help guide the daily decision making for the building. Goals are the basis for tracking progress as well as measuring progress. Fourth, create an action plan to ensure the implementation of the program and to keep it on track. Fifth, implement the action plan.
A simple start to utilizing green practices within a building can include checking equipment such as HVAC and energy management systems to ensure they are operating as they were designed. Consider lighting upgrades to reduce the heat and to maximize the lifecycle of the fixtures and bulbs. Also consider installing motion sensors that will turn lights off when restrooms are not utilized or behind janitorial crews as they finish cleaning. Establish procedures with security personnel to turn off lights left on by tenants after leaving for the day.
Utilizing green building practices enables an Owner to leverage their building’s strengths, integrate upgrades (retrofits), and implement maintenance and monitoring programs into the asset management plan.
Nicki Perkins
Director of Commercial Property Management
Macon Commercial Office
478-746-9421
When you get ready to sell your property, there are a number of things to consider before listing. Who will market the property, how much to sell for, how and where to market the property, just to consider a few. Selling a property is a time consuming and tedious project therefore, consider the following questions before making any decisions.
By Owner or By Agent?
One of the first decisions that must be made is whether to sell by owner or to use a real estate agent to market your property. Selling by owner will save you money in commission expense; but, in turn, you may not get the highest possible purchase price for your property. By selling yourself, you are limited by how you are able to market your property. You may place a “For Sale” sign on the property and you may list your property on few online property listing services, while agents have a number of other paid listing services and are members of organizations that give them contacts that help to increase the possibility of selling your property. The more exposure the property has, the faster it will sell- with a better chance at a higher price.
Think about fielding calls from potential buyers that may or may not be qualified to buy your property and could be just wasting your time. Keep in mind that a real estate agent is used to screen pre-qualified buyers along with marketing your property. Also, agents help take the burden off of the seller during the due diligence period and the time leading up to closing. There is so much paperwork that is required for the closing, including communications with the attorney, purchaser, lender, and title company.
How Much Commission?
Commission is typically paid as a percentage of the selling price and is usually between 3% and 10%, depending on the type of property, location, and “sellability” of the property. When you sign a listing agreement, keep in mind that commissions are negotiable, and the higher the price the more negotiation room you have. The type of property and the ease of selling also come into play when considering commission. An empty shopping center is harder to sell than a full one and a property in a declining neighborhood is also a hard sell. Therefore, properties that are harder to sell usually have higher commissions, giving agents a better incentive. Also, a point to keep in mind is that if there are two similar properties, one with a higher commission and one with a lower commission, it is more likely for the buyer’s agent to present the higher commission property as more favorable.
Which Broker Should I Hire?
Though any licensed real estate agent can list your property, commercial properties require special attention that only an experienced commercial agent can provide, not a residential agent. Commercial and residential properties are two totally different products that require completely different marketing plans and processes.
1) The Product – Commercial agents know the nature of the product that they are marketing and the current state of the industry. A good agent is aware of the current trends within the market and therefore can utilize this knowledge to market the property to the best suitable clients.
2) The Brochure – Unlike residential marketing, commercial properties require the compilation of a multi-page marketing brochure. Depending on the type of property, this brochure includes: pricing, property pictures, aerial pictures, site plans, topography maps, income & expense statements, demographics, traffic counts, NOI calculations, CAP rates, rent rolls, PIP lists, and many other items. If a purchaser is given enough information that is concisely put together and professionally displayed, he/she may make an offer without even personally seeing the property.
3) Pricing – Commercial pricing is calculated using a sundry of methods depending on the type of property. Hotels/Motels use a ratio of gross room revenue to price, land uses comparables, investment properties such as shopping centers and office buildings use a CAP rate, so on and so forth. Knowing how to calculate the correct price for the location of the property, the current state of the economy and market trends is very important and therefore requires the expertise of a commercial real estate specialist.
4) Documentation – The paperwork that is involved in marketing and closing a commercial real estate transaction is very in-depth and much more challenging than a residential transaction. Therefore using a real estate agent that is experienced in commercial transactions helps to protect the interests of the seller and/or buyer, whomever the agent represents.
5) Financing – Commercial loans are much more difficult to come by than residential loans are. Therefore, a good commercial agent has a number of contacts into the commercial lending arena that can help speed this process along and get to the closing without a hitch.
The commercial real estate industry is a completely different ballgame from the residential industry. Therefore, always consider the experience, knowledge, education, and personality of the agent before making a decision on whose hands you will put your property in.
Nancy Patel
Hospitality Real Estate Specialist
Macon Commercial Office
478-746-9421
If there is one thing I’ve learned in the multi-family industry, it is vital to have a quality resident retention plan in place in order to maintain a high occupancy. If your customers are pleased with you after they move in and stay that way through their lease term, they are more likely to remain living at your property. It is much more comforting to know your resident has had a job transfer or purchased a home rather than moving across the street into a competitor’s apartment community.
Resident retention is very simple, it just takes something we should all be good at and that is communication. Here are some noteworthy guidelines for a quality resident retention plan:
- Once the application has been submitted, give your resident a welcome letter with all the important numbers they will need to make their move easier. Then send a hand-written thank you letter to their current address.
- Make sure you have personally walked and approved the make ready status of the apartment prior to their move in date. This is also a good time to put a move in gift in the apartment.
- On the day of move in, have the maintenance supervisor accompany you with the resident to show the new resident how to operate appliances, cut off valves, etc. Also, anything the resident may notice wrong can be dealt with right away. NEVER let the resident go do the move-in inspection by him or herself.
- Introduce new resident to staff members that you encounter during the move in process. **Once resident has performed the move in inspection, give them a copy of their lease and information regarding the property, city/county information and a map of the city. Also include a pre-paid customer service survey card, so residents can give feedback regarding the service they received.
- Create a resident contact card with resident information and keep it in an index card box to keep up with the contact dates throughout their lease term. The first contact should be within the first week. Resident should receive a call or an in person contact to ensure the resident is still pleased with their apartment. Also, if you have a scheduled social event, this is a good time to invite them to join in on the fun.
- The next contacts should be every 3 months. 2 months prior to the lease expiration, a preventative maintenance appointment should be made by the maintenance supervisor to ensure everything is working properly in their apartment and to see if there are any upgrades due at renewal time.
Of course, these are just the scheduled contacts you should have with the resident, but there obviously might be a lot more encounters through the lease term. Any encounter is a great opportunity to display the highest level of customer service to your resident which, in turn, will let them know they have made the right choice by living at your community.
Lyn Eason
Multi-Family Property Management Regional Manager
Macon Commercial Office
478-746-9421
Fickling & Company Realtors
Fickling & Company has served the residential real estate needs of Central Georgia and the commercial real estate needs of the Southeast since 1939.
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