Welcome back to Go Gaddis Real Estate Radio right here on AM 920, the answer on this beautiful first day of fall. In this segment, we're talking about what's a good cure in Metro Atlanta for loneliness. I'm living by myself for the first time in a long time and I can relate to being lonely sometimes.
We've got some suggestions for you in this segment. And then what are gift funds as they relate to the purchase of real estate, and how might gift funds be used by you? My name is Cleve Gaddis. You're listening to Go Gaddis Real Estate Radio. Remember, it's not that I don't believe things that people tell me.
It's that I believe them, but I want to verify them as well. I have seen so many home sellers and home buyers be represented by someone who, and I hate to talk badly. People who work in the real estate industry with me because there are some great, great players in the real estate industry. But there are also people in real estate who...
This is going to sound terrible for me to say, but I'm not sure they could help you even if they knew how to do it. Because I don't think their heart is in the right place. And the reality is... Whether you're selling a home, whether you are buying a home, you deserve to know everything you need to know before you sign your name on the dotted line.
Before you get obligated to doing something you cannot get out of. You should have the opportunity to know everything you need to know and that is the purpose of this show. We do not want you to learn anything at closing or after closing that you should have learned before. We want you to go in eyes wide open.
And I'm hoping if you're listening, you can appreciate that. And if you have questions about a prior transaction, or you maybe have questions about a purchase that you intend to make in the future, or you have questions about selling a home now, or two years from now, or five years from now, we hope you feel comfortable to reach out to us, to connect with us at go get us radio.
com where you can submit those questions. You can make any comments you want. You can challenge things we say. You can request us to do a specific analysis on your neighborhood to help you understand as a homeowner in the neighborhood, what type of advantage or, or in some cases, maybe disadvantage you have, and you can subscribe to our podcast.
Have you ever heard of a an area called Murphy Crossing. I had not heard of Murphy Crossing. Murphy Crossing has a vibrant history. Throughout the 1940s and 50s, the property successfully operated as the Georgia State Farmer's Market. I remember going to what I thought was the Georgia State Farmer's Market.
As a kid, I was not around in the 40s and 50s. Um, I don't think that it was there, but, um, I do remember. As state ownership maintained the site, the building served different agencies, including the Georgia Archives, the History Warehouse, and 2018, the Atlanta Beltline, Inc. Completed its purchase of the Murphy Cross, of Murphy Crossing visioning process for the site.
It's currently home to the most inactive, to mostly inactive warehouses and buildings with trees. Atlanta's operations center soon relocating into the new headquarters next door. In 2018, Atlanta Beltline Inc., excuse me, initiated a request for a proposal, an RFP, for the sale and redevelopment of Murphy Crossing.
Due to Covid, the R F P was put on hold and re-issued reissued in 2021. Cul-de-Sac was honored to participate and has been officially selected as the finalist in the R F P process for much for the much anticipated redevelopment of 1 0 5 oh Murphy Avenue in southwest Atlanta. The proposed development.
At Murphy Crossing is a 20 acre site. It respects the Beltline's commitment to tie the people of Atlanta together to create more livable and geographically integrated spaces. It will be a mixed use development that's woven into the surrounding neighborhoods and the community. It'll include market rate and affordable housing, a variety of retail and commercial uses and abundant open space, all adjacent to the Beltline.
We had a client call into our offices a couple of weeks ago, wanting to relocate to a place. where you, they could be, have access to the Beltline or a Beltline adjacent place. And, um, we made sure that we connected them with the perfect agent and I know perfect agents on my team and perfect agents on other teams that we work closely with.
who know that area. So if that's something you're interested in, give us a call at 770 497 0000. Cul De Sac, in short, is an experiment to save one of the most endangered aspects of American life, which is a place to hang out. The first Cul De Sac car free neighborhood built from scratch in the United States is in Tempe, Arizona.
Tempe. Tempe is the most bike friendly city in the 5 million person Phoenix Metro area, and has 300 days of sunshine a year. It also has diverse food scene and is home to one of the largest universities in the country. The reality is we've got a new development coming in at Murphy Crossing and they say that it's the cure for loneliness.
They say that cure is hanging out in bars and parks. I don't know that I totally agree about the cure for loneliness is hanging out in bars, but I definitely agree on the parks and on working less. If you've just joined us, you're listening to Go Gaddis Real Estate Radio right here on AM 920 The Answer.
I'm Cleve Gaddis. Are you looking to purchase your first home, but maybe don't have all of the down payment funds you need? Well, there are some options, especially if you have someone. who is related to you, who is willing to give you a gift. Now, let's just say you want to purchase a home and you don't have any money for a down payment, but you have a mother or a father or an aunt or uncle or maybe grandparent or maybe even a sibling who is willing to give you the money for the down payment.
I know many of you parents who are listening are probably thinking, well, I would not give my child the money for a down payment, or I absolutely would. And whatever camp you're in, I'm okay with it. That is certainly your prerogative, but I do believe home ownership is a wonderful opportunity, and I am certainly willing to help with down payment funds for any of my four daughters as they purchase a home.
One of my daughters is moving back to Atlanta, by the way. She's lived in Hawaii for the last few years. She and her husband and my grandson, my 7 month old grandson, Jesse, are moving back to metro Atlanta in early November, and I am so excited about that. We received a question from Arnold in Lawrenceville.
His parents evidently have offered to give him gift funds toward purchasing his first home. And he wants to know how does it work and does he need to pay them back. And so let me answer the second question first. The answer is you cannot pay them back. So in order... In order for it to be legitimate gift funds, your mother and father are going to have to give the money to you and sign something.
The lender will have a form that you can use, Arnold. Sign something saying that they gave you the money for the purpose of purchasing a home and that you do not expect these funds to be repaid. In other words, they're going to ask your parents to say that they gave you the down payment funds. as a gift in many cases in most cases when we give a gift we don't expect anybody to pay us back if we did it wouldn't be a gift it'd be a loan and so this is a gift fund gift funds are allowed on VA loans, on FHA loans, on USDA loans, and on conventional loans, which means provided it is a legitimate gift, you can use gift funds on pretty much any loan.
Now, there are some exceptions. I don't have a list of those exceptions, meaning that there are some loans that probably would not accept gift funds. But if you need to buy a house and let's just say, for example, you have 10, 000 in down payment and you know you need 20, 000 in down payment, you could pay 10, 000 and you could get a gift from someone close to you, someone you're related to, someone that it would make sense for them to give you a gift of the other 10, 000.
And it might be the key to you getting into your home. Arnold, I hope you and your parents get it all figured out and I hope you're able to have the pride. And the enjoyment of moving into your home and driving in the driveway, or maybe it's driving into the parking lot because you'd live in a condominium complex or a townhome.
But I hope you get that opportunity because, uh, I would love that for you, Arnold. This segment of the show is brought to you by the law firm of O'Kelley Sorhan. They're a full service law firm with 26 offices throughout metro Atlanta. They specialize in residential real estate closings, including home purchases, refinance closings, corporate relocation, a real estate contract review and title insurance matters.
And they can be reached by calling 7 7 0 7 0 0 0 0. If you're looking to sell your home anytime in the next six months, we believe we can sell it for more. that other people can sell it for. One of the reasons we think we can sell your home for more is that we were selected, we were chosen because of the amount of listings, the number of listings we sell to participate in a new Zillow showcase listing program.
And when you list your home with us, and you have to qualify, but when you list your home with us, You will get a different type of exposure, uh, on Zillow. And the more exposure you get, the more money you can sell your home for. It benefits buyers because buyers get more information. They get to reach out directly to the listing agents and it benefits you as a home seller because it makes sure that all of the marketing and the photos and everything's in the right order using artificial intelligence.
If you want to list your home with. Modern Traditions Realty Group, which is my real estate firm, 770 497 0000 is the number. We started talking about, we could sell your home for 28, 000 more than your competition. One of the reasons, or more than your neighbors sold their home for, one of the reasons is because of our New Zillow showcase listings.
But we also do what's called a customized maximum value plan, and you can get up to 15, 000 for an R& R budget where you rest and relax while we. Rehab and refresh your home so you can sell it for absolutely top dollar. If you want to learn more, it's easy. Go to gogaddisradio. com, click on 28, 000 more, put in a little information.
You'll be on and off the site in 30 seconds, and I'll reach out to you personally. We're going to take a quick break. In our Neighborhood Spotlight, Sweetbottom Plantation in Duluth, where former Governor George Busbee lived. Also, Gen Z is making moves in the housing market. Staying focused during the home buying process.
How do you do it? Stick with us. We'll be back.