Fabulous Foreclosure Deals!

Incredible Foreclosure Deals!

This market is something crazy! Sometimes I come across deals that absolutely blow my mind! I'm not sure whether to be more suprised by today's market or the crazy market that existed prior to the bubble burst in 2007. Take the house above for example:

355 Vista Creek Drive in Monarch Village (Stockbridge, GA) - it is approximately 2413 square feet with 4 bedrooms and 2 full bathrooms. It has a spacious kitchen with breakfast area, formal dining room, family room, plus a sunroom and a privacy fenced backyard! It previously sold for:

• 2002: $191,900
• 2005: $189,999
• 2007: $197,500

It is now on the market as a Fannie Mae foreclosure for $106,900! Now, I know your first thought would be that it's a foreclosure and probably in horrible condition - but it's not. I've shown the home and from what the naked eye can see, it needs a good cleaning, paint and carpet. Here are some interior photos:

If you're looking for a fabulous foreclosure at a great price, let us help you! This isn't the only great deal out there -- there's plenty. You just need a great agent to help you locate them!

Real Estate in Numbers: 2nd Quarter - Butts County, Clayton County, Fayette County, Henry County


Pulling statistics from the MLS quarterly is one of my favorite things to do! Call me a real estate geek, but I get excited to see where the market is heading! If you have questions about your local market or a specific subdivision/neighborhood/community, please contact us and we'll be happy to provide a detailed market analysis and other market data!

Can We Sell Your Home?

These four things have a direct impact on whether or not we can sell your home:

ACCESS:
A seller should be willing to give almost unlimited access to potential purchasers if they are looking to sell. Any restrictions to showing the home will result in fewer buyers which could result in a lower price, a longer time on market or both.

CONDITION:

Condition goes a long way in determining whether or not a house sells. Bringing in a professional stager is the ultimate answer. If that is not possible, the seller should at least be willing to remove all the clutter and 'throw on' a fresh coat of paint where necessary.

MORTGAGE OPTIONS:

Very few owners are willing to give a first mortgage to a potential buyer. However, there are other mortgage options they perhaps should consider. Allowing FHA financing is an example. Perhaps, they would be willing to help the buyer out with a seller's concession. The easier it is for a purchaser to finance the home, the greater the chance more buyers will be interested.

PRICE:

Every house must be sold twice: to the buyer and to the bank if a mortgage is involved. To get a home sold the price has to be right. There are studies that have shown that listing a house at a price greater than the market warrants results in that home taking a longer time to sell and also selling for less money.



Source: KCM Blog - Steve Harney

Short Sale Assistance for Military Families

Military families have just been given help to sell their homes when forced to move because of their service. Permanent Change of Station (PCS) orders often require quick moves and can create hardship for military homeowners who are underwater on their mortgages and therefore cannot sell their home without taking a loss. Homeowners who receive (PCS) orders now will be eligible to sell their homes in a short sale even if they are current on their mortgage. Previously, many service members felt their only option was either to maintain financial obligations on two residences or to default on their mortgage.


Under the new policy, Fannie Mae and Freddie Mac will not pursue a deficiency judgment or any cash contribution or promissory note from members of the military with a change in duty station for any property purchased on or before June 30, 2012.

Edward J. DeMarco, Acting Director of the Federal Housing Finance Agency (FHFA) explained:
"It is in everyone's interest for the men and women serving in our armed forces to focus on the important job they are doing defending our country, rather than worry about the maintenance and leasing of a property in another jurisdiction."

The full news release with eligibility requirements can be found here:
http://www.fhfa.gov/Default.aspx/webfiles/429/Amended%20Technical%20Appendix/webfiles/24026/CFPBFinalwFS.pdf

We are well educated in short sales and are happy to extend this knowledge to our nation's military. Please don't hesitate to call, email, or text if you need our assistance.