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How and Why Do a Short Sale?

Your Guy for That Thursday, May 23rd, 2013 No Comments

Why Would a Lender Accept a Short Sale?
By Elizabeth Weintraub, About.com

A short sale transaction can be very stressful for all parties involved.
A short sale in real estate is not always a pleasant transaction.There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For home owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a “short sale.”More than half of sales in 2006 to 2012 have been short sales. That’s how prominent short sales have become. In recent years, even sellers who are not delinquent might qualify for a short sale, which has opened many mor… Continue Reading How and Why Do a Short Sale?

Posted in Atlanta, Atlanta Beltline, College Park, East Point, Feed, Fort McPherson, Fulton County, Hapeville, Homepage, Metro Atlanta, Mortgage News, Real Estate, Short Sale

When Foreclosure is a Good Option…

Your Guy for That Wednesday, May 22nd, 2013 No Comments

By  Alan Dunn

One of the most controversial topics in today’s economy is foreclosure. For many consumers, deciding what to do once payments get behind is an agonizing choice. Do you try to work a deal out with the lender or simply let the house go and live rent-free for a year or more?

In some counties of the hardest hit markets such as South Florida and California, the foreclosure process can take years while homeowners live in limbo both emotionally and financially. Why is the decision so hard to let a home go?

I do not understand this train of thought logically. If you are really upside down on your home and behind on your mortgage, all roads to a new home loan are quite unlikely due to the recent damage of your credit score and loan modifications only help short term. They … Continue Reading When Foreclosure is a Good Option…

Posted in Atlanta, Atlanta Beltline, College Park, East Point, Feed, Fort McPherson, Fulton County, Hapeville, Homepage, Metro Atlanta, Mortgage News, Real Estate

Why Should You Consider Short Sale, and what is it?

Your Guy for That Tuesday, May 21st, 2013 No Comments

Short Sales, The Good News About A Bad Thing…
By Tisza Major-Posner

 If you are listening to the news, reading the papers or watching the Internet you have probably run across the term “Short Sale”.  But, what is a Short Sale?  Is it a good thing or a bad thing?  And, most importantly, if you are facing one, what is the good news about the situation and what is the bad news.

What is a Short Sale?  A Short Sale is the selling of a property for less than you owe on it and also requires asking the lender’s to forgive the difference between what they are owed and what the property can currently be sold for.

With property values fluctuating and with lots of folks with adjustable rate mortgages seeing their interest rates resetting themselves from barely affordable to out … Continue Reading Why Should You Consider Short Sale, and what is it?

Posted in Atlanta, Atlanta Beltline, College Park, East Point, Feed, Fort McPherson, Fulton County, Hapeville, Homepage, Metro Atlanta, Mortgage News, Real Estate, Short Sale

Why Buyers Should Consider Foreclosures or Short Sales

Your Guy for That Monday, May 20th, 2013 No Comments

Author:Brendon DeSimone

For years, many buyers routinely steered clear of foreclosures and short sales. In their minds, such properties were “damaged goods” — real estate remainders that were likely to be dumps and money pits. Why risk such a big investment on a property sold in distress?

We’re now in a housing market unlike any we’ve seen in years. Inventory is tight in many areas. Meanwhile, the poor economy of the past few years has produced more properties in foreclosure or offered as short sales.

And so, as you enter the market either for the first time or as a seasoned buyer, you should be on the lookout for “distressed” sales. You might find a great property you’d otherwise have overlooked if you categorically disqualified foreclosures and short sales. And… Continue Reading Why Buyers Should Consider Foreclosures or Short Sales

Posted in Atlanta, Atlanta Beltline, College Park, East Point, Feed, Foreclosure, Fort McPherson, Fulton County, Hapeville, Homepage, Metro Atlanta, Mortgage News, Real Estate, Short Sale

First-time homebuyers face harsh housing realities

Your Guy for That Friday, May 17th, 2013 No Comments

by Christina Mlynski

The next generation of homebuyers has different expectations of the real estate process, and who can blame them?

They are facing a different set of realities from their parents.

The average Gen Y currently has, on average, $27,000 in college loans to repay, which they may spend the better part of a decade doing — exactly at the same time when past generations were usually saving up for a down payment, writes Doorsteps, a real estate search site.

As a result, the real estate industry has to revamp itself and reimagine how the home selling process will transition in the coming years.

Doorsteps, a real estate search site that develops relationships between buyers, sellers, lenders and service providers, has created a very informative info graphic to show … Continue Reading First-time homebuyers face harsh housing realities

Posted in Atlanta, Atlanta Beltline, College Park, East Point, Feed, Fort McPherson, Fulton County, Hapeville, Homepage, Metro Atlanta, Mortgage News, Real Estate

Home improvement: 10 cheap upgrades

Your Guy for That Wednesday, May 15th, 2013 No Comments

Afraid of dipping your toe into the home improvement pool? Don’t be.  There are many things you can do to spiff up the old place without spending a  fortune.
By Bankrate.com

1. Make your kitchen really cook

The kitchen is still considered  the heart of the home. For a few hundred dollars, you can replace the kitchen  faucet set, add new cabinet door handles and update old lighting fixtures with  brighter, more energy-efficient ones. If you have a slightly larger budget, you  can give the cabinets themselves a makeover. Rather than spring for a whole new  cabinet system, which can be expensive, look into refacing the ones you have.  Many companies will remove cabinet doors and drawers, refinish the cabinet boxes  and then add brand-new doors and drawers at a price considera… Continue Reading Home improvement: 10 cheap upgrades

Posted in Atlanta, Atlanta Beltline, College Park, East Point, Feed, Fort McPherson, Fulton County, Hapeville, Home Maintenance, Homepage, Metro Atlanta, Mortgage News, Real Estate

The BIG Question of the day: How Do I Creating Curb Appeal on a Budget?

Your Guy for That Tuesday, May 14th, 2013 No Comments

It’s the one question that is asked often… How to create ‘curb appeal’ when selling your home, but you don’t want to spend a lot to do it? First impressions DO matter!

Working in real estate, I’ve learned that many buyers will drive by a house before they even call for a showing. It makes sense. After all, if the buyer doesn’t like the outside of the house, why would they want to buy the inside? Unfortunately, properties going on the market often have poor or sparsely landscaped fronts that don’t appeal to buyers.

Case and point, I’m helping a former client sell her house. The house is great on the inside, but hasn’t drummed up a lot of interest. She’s on a limited budget, so I had to create some curb appeal without spending a lot of money. Thankfully, I came up with a few curb app… Continue Reading The BIG Question of the day: How Do I Creating Curb Appeal on a Budget?

Posted in Atlanta, Atlanta Beltline, College Park, East Point, Feed, Fort McPherson, Fulton County, Hapeville, Homepage, Metro Atlanta, Real Estate, Sellers

Short sale experts reveal knowledge behind the industry

Your Guy for That Monday, May 13th, 2013 No Comments

By Megan Hopkins
 
With REO sales making up roughly 11% of total sales, it’s important for Realtors to know the short-sale market well, said Ashley Bean, when leading a panel discussion at the REOMAC 2013 Summit & Expo in Dallas.

During the same panel discussion, a number of short sales experts discussed the health of the industry and gave tips to attendees on how to close more sales.

In 2011, the average time it took to complete a short sale was only 108 days, according to Bean. That is a far cry from the 148-day average that came the following year. Now, in 2013, we’ve pushed the time back down slightly, with the average somewhere between 120 and 130 days.

Bean added that Arizona, Nevada, Illinois, Michigan and Georgia are the fastest-moving states, which sh… Continue Reading Short sale experts reveal knowledge behind the industry

Posted in Atlanta, Atlanta Beltline, College Park, East Point, Fannie Mae, Feed, FHA, Fort McPherson, Freddie Mac, Fulton County, Hapeville, Homepage, Interest Rates, Metro Atlanta, Mortgage Assistance, Mortgage News, Real Estate

Events update from Councilman Lance Rhodes!

Your Guy for That Friday, May 10th, 2013 No Comments

 

Councilman Lance Rhodes

1257 Spencer Ave.

404-234-5022

Lrhodes@easpointcity.org

East Point Neighbors,

Following are several items of interest.

Please let me know if you have any questions or concerns. I work diligently to return all calls and emails within 24 hours.

Have a grand week.

Friday Night Flicks Outdoor Movies

3rd Friday from May – September

The pre-movie activities begin about an hour at dusk, the movie will be shown at dusk. The movies are held in the Downtown Commons Area, 2757 East Point Street-Across from East Point City Hall and just one block from the East Point MARTA Station. Grab dinner to-go at one of our great Downtown restaurants and t… Continue Reading Events update from Councilman Lance Rhodes!

Posted in Atlanta, Atlanta Beltline, College Park, East Point, Feed, Fort McPherson, Fulton County, Hapeville, Homepage, Metro Atlanta, Mortgage News, Real Estate, Schools, Small Business

One ‘new’ idea to sell your home: Make a video

Your Guy for That Wednesday, May 8th, 2013 No Comments

An on-camera testimonial about your house and neighborhood could draw more traffic for open houses and showings and even sell your home faster or at a higher price.
By Melinda Fulmer of MSN Real Estate

© Tim Robberts/Getty Images

Home sellers should get ready for their close-ups.

More real-estate agents are asking owners to take a starring role in short videos touting the best features of their home and neighborhood. These videos, designed to make a home stand out in Web searches, can move homes faster, because they draw more traffic for open houses and showings. Some agents believe they can help sellers fetch a slightly higher price for their home, even in a sluggish market.

“It generates more people that might be interested,” says Terry Burger i… Continue Reading One ‘new’ idea to sell your home: Make a video

Posted in Atlanta, Atlanta Beltline, College Park, East Point, Feed, Fort McPherson, Fulton County, Hapeville, Homepage, Metro Atlanta, Mortgage News, Real Estate
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