Best Hash browns in Town!

Some people are just breakfast people.  I’m one of those.  I can eat breakfast at ANY time during the day or evening.  If the dish is prepared well, it can be just as satisfying to me as dining in a 5-star resort or famous restaurant.  Okay, so I can sometimes be a cheap date?! 

Nevertheless, in every industry, there are stand-outs for various reasons.  In real estate, I stand out because I am a market nerd.  I love the statistics and neighborhood profiling that lead to good negotiation strategy.  Being the “market expert” is important to me.  In the breakfast world, I think the stand-outs can be classified according to the quality of the hash browns.  Most establishments can get the eggs or pancakes right.  Some will do better than others on the bacon.  However, hash browns are the real differentiators.  Getting them just browned and crispy enough seems to be an elusive skill for many establishments.

In Savannah, there is one place that always gets them right:  The Diner on Abercorn.  It doesn’t matter if you want them plain, or with cheese, onions, or whatever else, they are perfect.  And, who can beat the diner setting?  I’m sure that other items on the menu are equally good, but the real breakfast lover should give The Diner a shot at making a great impression.  Fast, cheap, prepared exactly the way you want it --- what’s not to love?

Skyline Across the River

What a great city!  This is the view across the Savannah River from the Trade Center.  Our gold domed City Hall really stands out.

Meet John Wesley

In the continuing series of Savannah monuments, let me introduce you to John Wesley, who oversees Reynolds Square in downtown Savannah.  The monument is bronze, set atop a rectangular granite base.  It was crafted by Marshall Daugherty and dedicated in 1969.  John Wesley, who is considered the founder of Methodism in America, played a role in the early days of Savannah.  In fact, he came to the city as General James Oglethorpe’s secretary. 

Wesley also served as the rector of Christ Church.  While in Savannah, his life was plagued with a little romantic drama.  After all, isn’t Savannah well known for scandals?  The breadth of his congregation was a challenge to Wesley, both ethnically and geographically.  He had so far to go to serve his parishioners that he is considered the first “circuit riding” preacher.  Ultimately, Wesley returned to England.

The sculpture shows Wesley in his Church of England vestments, holding his Bible.  You almost expect him to start preaching any second.  One side of the base is inscribed:

“My heart’s desire for this place is not that it be a famous or rich, but that it may be a religious colony; and then, I am sure, it cannot fail of the blessing of God.”

Wesley’s influence is seen in the number of Methodist churches still standing and influential in the community.

Buyer Brokerage: What is a “Fraudulent Activity?”

Home buyers in Georgia often sit down with their Realtors prior to previewing homes and have a buyer’s orientation.  This process accomplishes a plethora of preparation activities and not only includes an overview of the buying process, but also a discussion of the Exclusive Buyer Brokerage Agreement (BBA).  The BBA is an agreement between the broker and its affiliated licensee (your Realtor) that allows the Realtor to legally represent the your interests.  In fact, it’s illegal for a Realtor to provide advice without the BBA.

During the buyer orientation, I often get questions about various sections of the BBA.  As a result, I thought I’d provide an overview related to those items that are sometimes confusing to buyers.  Today’s post is about fraudulent activities.  While I am not an attorney, I can offer some examples related to the BBA content.  Paragraph 11 of the Georgia Association of Realtors (GAR) BBA reads:

Disclosure of Potentially Fraudulent Activities
A.  To help prevent fraud in real estate transactions, Buyer does hereby give Broker permission to report any suspicious, unusual and/or potentially illegal or fraudulent activity (including but not limited to mortgage fraud) to:
     1.  Government officials, agencies, and/or authorities and/or
     2.  Any mortgage lender, mortgage insurer, mortgage investor and/or title insurance company (and/or their agents and representatives) could potentially be harmed if the activity was in fact fraudulent or illegal,
B.  Buyer acknowledges that Broker does not have special expertise with respect to detecting fraud in real estate transactions.  Therefore, buyer acknowledges that:
     1.  Activities which are fraudulent or illegal may be undetected by Broker; and
     2.  Activities which are lawful and/or routine may be reported by Broker as being suspicious, unusual or potentially illegal or fraudulent.

Clear as mud, right?  After having done countless buyer orientations, I have yet to have a buyer sit up and say, “I know what a fraudulent activity it.”  Unfortunately, this is one of those examples where ignorance is not bliss.  When fraud occurs, somebody goes to jail.  So, what are "fraudulent activities?”  They can include one of these elements:

• Making ANY false statement to a lender.
• Accepting rebates or credits as a result of the real estate transaction that are not disclosed on the settlement statement.  This could include selling bonuses to Realtors, cash incentives from sellers to buyers “under the table,” or inclusion of high value items as incentives such as keeping the boat in the back yard.
• Unacceptable, undocumented, or misrepresentation of the buyer’s down payment.  This is often a confusing element when buyers are using gift money for their down payment.  Gift funds are acceptable, with the proper documentation.
• An inflated appraised value for the property that is the collateral for the mortgage loan.
• Secret second mortgages, which may or may not be recorded.
• Bogus earnest money deposits.
• Falsely claiming that the owner will occupy the property.  Some loans are intended only for owner occupants, not investors.   If a buyer gets one of these loans (e.g., FHA or VA), then the buyer will have to sign a statement at closing that they will occupy the property.  Some loans ask for verification that the buyer will occupy the property for a specified amount of time.
• Using a fictitious or stolen identity on the loan application.

In addition to the loan-specific fraud, there are a other types of schemes that have been tried such as:

• Foreclosure re-mortgaging.  Homeowners who are at risk of defaulting on their loans or who are already in the process of having their homes foreclosed may be solicited to transfer the deed to their home to a “professional” who is supposed to help stall or eliminate the foreclosure.  Unsuspecting homeowners pay a fee for the service, but the schemer may re-mortgage the property and take any existing equity or pocket the fees paid by the homeowner.
• Equity skimming.  This is a scenario wherein false credit reports and income documents are used to secure the purchase, then the buyer signs the property over to an investor via a quitclaim deed.  The investor does not make mortgage payments and rents the property, pocketing the cash, until the bank eventually forecloses.

These activities are serious and scary.  Fortunately, they only occur in extremely small percentages of real estate transactions.  The bottom line for a buyer is to have clear and frequent communication with the Realtor who is representing him/her.  Any questions, concerns, of “funny feelings” about the activities surrounding the real estate transactions should be put on the table.  For more information about buyer representation, give me a shout out.  I’ll be happy to discuss the pro’s and con’s.

The Scoop on Home Inspections

It is never a good idea to purchase a home without the benefit of a home inspection.  After all, we are talking about investing large sums of money in the property.  The purpose of a home inspection is to identify items of concern as well as safety issues associated with a property.  In addition, the inspection can give a buyer (or seller) a better understanding regarding a home’s condition.  No home is going to be perfect --- not even new construction.  Having an inspection is a means to identify acceptable risk.

So, what’s the scoop on the basics?  First, a home inspection should be completed by a full-time professional inspector or housing contractor who is either licensed (varies by state) or certified by ASHI (American Society of Home Inspectors).  Additional educational preparation is desirable, such as having an inspector who is also a accredited in laser thermography, which allows him/her to take temperature and moisture readings.  This is not a process when you want your third cousin once removed, who used to do sheetrock work, to take care of the inspection for you.  Most Realtors have at least three or four “go to” inspectors who are trusted, with literally hundreds of inspections under their belts.

Second, it is important to know what the inspection will and won’t cover.  A good home inspection will include a thorough visual inspection of the structure, inside and out, and from the foundation to the roof.  Even minor items such as a crack in the driveway should be documented in the inspection report.  Most inspectors will not only document any issues found, but they typically will also note items to watch over the short term.  Some will provide a maintenance guide as well.  The inspection main focus will be on the major systems in the property, i.e., mechanical and electrical.  Product dates and serial numbers will be documented.  If appliances are included in the sale, they will be operated to assure proper functioning.  Sometimes, the inspection will identify items that might require additional experts.  For example, a common scenario might involve the heating & air system.  An inspector will check the inside and outside components and will measure “differentials,” the range of temperature difference between the return and the vented air.  If the differential is low (e.g., below 17 degrees), then the inspector may recommend that the buyer ask an HVAC professional to do further inspections to determine if there is an insufficient charge on the system, leaks present, or other maintenance issues.

Overall, an average home inspection for a 2000 SF home takes around 2 hours, more if the home is an off-ground construction, since the inspector will have to don hazmat gear and crawl under to explore all the places you really don’t want to go.    For a price tag of between $250 – 350 for most Savannah area homes, an inspection will give you peace of mind about the following:

Exterior	Interior	Structural	Systems
Roof Gutters Windows Doors Siding & Trim Grade Driveways, Walkways, Deck	Doors Fireplaces (limited) Ceilings & Walls Appliances Included in Sale	Foundation Framing Floors Attic Crawlspace (must have 18” clearance)	Plumbing Fixtures Water Heater Electrical Service Panel Electrical Outlets Heating & Air

The price tag is a good value.  The inspection report meets objectives beyond curiosity.  It provides the foundation for negotiation as well as documentation for home warranty purposes.  If you have further questions about inspections, contact me.  I’ll be happy to give you more information and/or a referral to an excellent local inspector.

Fish Tales at Fort McAllister Marina

In the continuing saga of Savannah area seafood restaurants, it’s time to focus on a small place with a big impact in Richmond Hill.  Richmond Hill is a bedroom community of Savannah, and home to a wide range of residents, including a good number of military stationed at either Fort Stewart or Hunter Army Airfield.  Anyone living in Richmond Hill can tell you that fishing and boating are some of the most loved pastimes of the area, with a lot of activity centered in and around the Ogeechee River.  A central element in all of this activity is the Fort McAllister Marina located on GA 144 Spur.  Not only is the marina home is a good number of boat slips, it’s also the home of “Fish Tales,” a great hole-in-the-wall type seafood restaurant.  Fish Tales has two separate interior sections, including a room with a full bar and a few booths, as well as a dining room with three walls of windows looking out over the boats and river.  The dining room looks like it seats around seventy-five.  Dining extends to the outdoor area with as many tiki tables and chairs.  On weekends and special occasions, there will be live entertainment.  (In fact, yesterday diners were treated to an incredible fireworks display over the water in honor of the Labor Day weekend!)

The food choices are fabulous. Do yourself a favor if you’ve never been and get a lot of the appetizers for your table.  For example, the jalapeno poppers that are stuffed with crabmeat are great and  the hush puppies are sweet.  The buffalo shrimp are also a good choice.  Honestly, you can’t go wrong with any of the seafood choices!  The service may not be particularly speedy, but the trade off of not feeling rushed through dinner is worth it.  If you stay long enough, you’ll see anybody who’s anybody in Richmond Hill.  It’s a favorite watering hole.

First Saturday on the River

The first Saturday of the month in Savannah brings a variety of activities down on River Street.  This Labor Day Weekend was no different.  For the folks who didn’t want to trek to the beaches, there was music, arts & crafts, and just a lovely day to take in the sights.  Each “First Saturday” usually has a theme.  This past weekend was dubbed a giant tailgate party, with activities leading up to watching the University of Georgia football team play on a huge screen in Rousakis Plaza.