The Perfect Property Podcast: An Atlanta Real Estate Guide - Home Warranties Explained with American Home Shield

Home Warranties Explained with American Home Shield

03/09/21 • 12 min

The Perfect Property Podcast: An Atlanta Real Estate Guide

On this episode of The Perfect Property podcast, Juli speaks with Chardel from American Homeshield
Home Warranty. Chardel concisely answers many of the questions that home buyers have about home
warranties, starting with why homeowners should buy into a home warranty.
Chardel explains that a home warranty exists to protect the budget for sellers and buyers while the
house is listed or once the buyer has purchased and moved into the house. A home warranty covers the
mechanical (not structural) systems and appliances within the main foundation.
So, with a home warranty, when a problem comes up, all you have to do is call the company, describe
the problem, and a technician is dispatched to either repair or replace the item. That being said, what a
home warranty covers can differ from company to company. When it comes to coverage and whether or
not they send people out to make repairs, be sure to check your company’s limitations to avoid
unwanted surprises!
Chardel notes that a home warranty is even more important during the pandemic, with many people
spending more time at home and using appliances frequently. And, you don’t have to be a new
homebuyer to purchase a home warranty. Even if you’ve been in your house for some time, you can still
opt for a home warranty with Home Shield.
It’s also important to remember that a home warranty is different than homeowner’s insurance. Chardel
explains how they differ and also discusses the prices of a home warranty, shares how a home warranty
can save the day, and touches on expensive repairs like HVAC and replacement gases.
What You’ll Learn:
 Why homeowners should buy into a home warranty (0:42)
 What a homeowner can and can’t expect from a warranty (1:39)
 Myths about home warranties (4:20)
 Different tiers of home warranties (5:16)
 Home warranty pricing (5:50)
 Commercial home warranties (6:34)
 Warranties for homeowners who have been in their home a while (6:54)
 Stories of home warranties saving the day (7:45)
 Changes in HVAC and replacement gases (8:37)
Key Points: (3-4 quotes)
“A home warranty is there to protect the budget for sellers and buyers while the house is listed or once
the buyer has purchased the home and moved into the home.”
“At American Home Shield, we cover for undetected preexisting, we cover for mismatched systems, we
cover for lack of maintenance. Age is not an issue with our warranty.”
“A home warranty is actually a very good compliment to homeowner’s insurance. Not one takes the
place of the other. But homeowner’s insurance covers for the catastrophic and structural items of the
home and the home warranty can cover the mechanical systems of the home. So, they really are great
hand-in-hand, especially for first-time home buyers or new home buyers.”
“Having the home warranty just takes the hassle out of it for the homeowner.”
Links:
Juli’s Email: [email protected]
Juli’s Phone Number: 404-668-8975 (call or text)
The Perfect Property Website. www.theperfectproperty.com
https://www.ahs.com/
Chardel Ehrhardt: [email protected]

https://linktr.ee/julistgeorge

Previous Episode

How to Win in Multiple Offer Situations!

In this episode of The Perfect Property, Juli welcomes Candice Hayes as her guest. Candice is the Lead Buyer’s Agent for the Perfect Property Team. As 2021 begins, the housing market is increasingly competitive and can be difficult to navigate. Candice breaks down the role of a buyer’s agent and discusses the importance of utilizing someone with experience to create a strong competitive offer for today’s marketplace.

Candice reminds us to focus on the end goal; to build generational wealth for clients through home ownership. She introduces a few helpful strategies for buyers to keep in mind as they hunt for that perfect property. Candice and Juli discuss the ins and outs of how to use earnest money, contingencies, option money and escalation clauses to get your offer accepted.

To wrap up, Candice discusses three things to avoid as a buyer; no lowballs, don’t be picky and don’t ask for more money. Juli gives insight from the seller’s agent perspective emphasizing the importance of filling out paperwork correctly. At the end of the day, 2021 is both a buyer’s and a seller’s market; buyers can take advantage of great rates and sellers can take advantage of the large pool of buyers. Both agree, the key to getting what you want on either side of a deal is to utilize the expertise of an experienced agent.

What You’ll Learn:

· Recap on 2020 market and what we’re seeing for 2021 (0:28)

· Today’s guest: Candice Hayes, Lead Buyers Agent for Perfect Property (2:05)

· Role of a buyer’s agent (2:30)

· Strategies for making a strong, competitive offer (4:40)

· Three things not to do as a buyer (23:00)

· Tips from a listing agent’s perspective (24:30)

· Super seller’s market (29:38)

Key Points:

“That’s the main goal- build generational wealth for our clients and their families and home ownership is one of the top ways to do that.”

“As a buyer: no lowballs, don’t be picky and don’t ask for more money.”

“For the seller, please don’t overprice your house.”

“It takes a good agent to pay attention, in a very competitive market you can lose a house for something as small as $250.”

“A favorite line in real estate: it depends.”
Let’s work together so everyone can get to the closing table and feel good about it.”

“Is it a buyer’s market or a seller’s market? It’s actually both.”

Links:

Homeward https://www.homeward.com/

Juli’s Email: [email protected]

Juli’s Phone Number: 404-668-8975 (call or text)

The Perfect Property Website: www.theperfectproperty.com

Instagram: https://www.instagram.com/julistgeorge/

Facebook: https://www.facebook.com/ThePerfectPropertyATL/

https://linktr.ee/julistgeorge

Next Episode

Atlanta Community Land Trust With Amanda Rhein

Summary:

On this episode of The Perfect Property podcast Juli invites Amanda Rhein, executive director of the Atlanta Land Trust, to share the inroads she has made in a career dedicated to improving Atlanta’s built environment. The community land trust model, which has found success over the years in 250 cities nationwide, is making home ownership attainable for people in lower incomes brackets. Although local real estate prices have increased dramatically, the ALT has managed to create affordable housing options in a market that would otherwise be out of reach.

Juli and Amanda’s conversation includes a step-by-step explanation of how leased home ownership differs from traditional, the financial profile required of prospective buyers and options for counseling to get on the path to qualifying for a mortgage. Amanda also walks through the process of re-selling a property, how accrued equity is distributed and options available to older family members who wish to pass their 99-year lease down to younger generations.

With roots tracing back to the 1960s, the community land trust model arose in response to the systematic deprivation of civil rights in southern Georgia. The effects of discrimination and intimidation are transgenerational but organizations like the ALT are providing a roadmap for would-be homeowners in need of a point of entry. Amanda shares success stories and acknowledges the ongoing challenge of lobbying for necessary private- and public-sector funding for the portfolio of 300 properties she ultimately hopes to establish. She paints a picture of the types of homes the ALT currently has under development (both single family and townhome communities) as well as her hopes for the future. Join Juli in learning about the Atlanta Land Trust’s mission and the ways in which it is delivering low-income individuals and families access to the American dream of home ownership.

What You’ll Learn:

· Amanda explains how the Atlanta Land Trust works and why it exists. (1:49)

· The community land trust model’s southern roots and evolution. (2:15)

· How the Atlanta Land Trust model specifically serves communities suffering redlining, food deserts, runaway rents/property taxes and other housing inequities. (6:16)

· Amanda explains the step-by-step process and time required to secure a land trust property. (8:38)

· Home valuations in Atlanta have increased in some cases by as much as $100,000, which makes a ground lease formula the best alternative for many families. (11:26)

· Amanda explains the resale process and ALT’s ongoing stewardship role. (12:10)

· Average sale price for ALT-leased homes in Atlanta is about $165,000, but there is a wide range depending on income and other factors. (13:32)

· Funding and land acquisition/development for ALT requires constant cultivation of public and private funding sources. (16:11)

· What about the homes themselves? Is there a “typical” ALT housing project? Some are scattered-site single family homes built on public land and others are larger planned communities of townhomes/condos (both new construction and renovation). (18:00)
· The ALT’s income limits are set based on Area Median Income (AMI), which for the majority of applicants means an income cap of $68,950 annually for a family of four and $48,000 for single individuals. (20:25)

· Other factors in qualifying for a mortgage include: credit score, proof of steady income and amount of household debt. For those who fail to qualify, ALT offers counseling to get on

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