Saturday, April 30, 2011

Georgia Homebuyer Grants Programs $100 Down Payment

Come to our workshop to learn about the home buyer grant programs available in Georgia.

We will explain the home buying process in detail and answer your questions.

A lender will explain the grants and what you need to do to qualify.

After the seminar is over we will do a caravan tour of foreclosure homes.

Refreshments will be provided. Free gifts to the 1st 50 people who RSVP.

Seating is limited, RSVP only.
Priscilla Hammond
678-757-5885
Hosted by AmericaHomeKey and Team Excel Maximum One Realty.

RESERVE YOUR SPOT NOW!

Saturday May 14, 2011.
Time 1PM-2PM
Maximum One Realty Greater Atlanta
5041 Dallas Highway
Suite 700
Powder Springs, GA 30127
Entrance is located at the back of the building.

Wednesday, April 27, 2011

Atlanta Georgia GA area Real Estate Market Conditions, News, Rates & Trends 04/25/2011

This report on the market in the metro Atlanta Georgia Real Estate industry is current as of 04/25/2011.

This report is compiled on information from detached single family residences in the Atlanta Georgia metro area.

The median list price in metro Atlanta is $219,900 it is showing a strong upward trend. It was $209,700 two weeks ago.

The market action index in Greater Atlanta GA (MAI) is 16.4 which means it is a strong buyer’s market. It was 16.1 two weeks ago. So it is showing an upwards trend toward being a seller’s market.

The asking price per square foot is showing no change.

The average number of days on the market (DOM) is 176, it was 167 two weeks ago.

36% of properties had a price reduction, which is the same as two weeks ago.

12% of properties were relisted, which is the same as two weeks ago.

3% of properties were flipped with a price increase, it was 2% two weeks ago.

The (MAI) market action index measures the current rate of sales versus the amount of inventory. Index 30 or higher means market conditions that favor the seller; index below 30 means market conditions that favor the buyer.

Call me to buy or sell your  real estate in the metro Atlanta Georgia area. I have partners in mortgage lending, home inspections, mold inspections & remediation, pest inspections & control, credit restoration, general contractors & home warranty companies who will give you a great price because you’re working with me.

Priscilla Hammond
Licensed Georgia Real Estate Agent
Maximum One Realty Greater Atlanta
(678) 757-5885 Mobile

priscillahammond@live.com

Saturday, April 23, 2011

Reasons to List Your Home With an Agent in Cobb County or Marietta or Atlanta Georgia

Some home owners think they can successfully sell their homes (FSBO) on their own, without the help of a Georgia licensed Real Estate Agent, but in most instances they're wrong. If you're not professionally trained and licensed you can be getting yourself into a big hole trying to FSBO. The 1st reason you should allow an agent to list your FSBO home for sale is because there is no upfront expense to you. You don't have to invest the hundreds of dollars a month that agents do to market your home. The 2nd reason you should not try to FSBO is because your home won't be listed in any of the state's mls systems GAMLS and FMLS. This is where real estate agents that have qualified home buyers search for homes. We do not ride around looking for FSBO's.
This presentation will show you SOME of the things I can do to sell your home in metro Atlanta Georgia.

Click on the page numbers to proceed

Free Home Buyer Workshop w/Free Gifts, Refreshments & A Foreclosure Tour

Thursday, April 21, 2011

What exactly is Earnest Money Deposit?

So you've made it to the point where you've found a home in Georgia that you want to put an offer on. Then your agent tells you to give 1% of the purchase price for an earnest money deposit. What is it and why do you have to pay it? Read on.....

Most offers to buy a house are accompanied by a personal/cashier's check. This check is generally referred to as the "earnest money deposit." The basic reason for the deposit is to convince the seller that the buyer "earnestly" intends to purchase the property. It is not required to purchase a home but most sellers won't seriously consider an offer without it.

The amount of the deposit varies from purchase to purchase, depending on a variety of factors. If a property generates a lot of interest, a buyer may make a larger deposit to convince the seller that their offer is stronger than the others. During hot markets, deposits are generally larger than during slow markets.

In normal times, buyers should hesitate before making a deposit that is larger than 2% of the purchase price. Underwriting guidelines  require strict documentation of such deposits.

There are reasons to try and keep the deposit as small as possible, but not so small that the seller doesn't take it seriously. Once a buyer and seller agree to terms, the earnest money deposit is usually placed in a "trust" account. At that point it is no longer the buyer's money -- it belongs jointly to the buyer and seller.

Almost all deals close and the earnest money funds are applied to the buyer's down payment & closing costs. There are exceptions to that rule.

Some sellers think that if the deal falls through, the earnest money deposit is automatically forfeited. Some buyers think that if the deal doesn't close, they automatically get the money back.

Neither one is true.

Even when the failure to close is the buyer's fault, the seller doesn't have a right to the deposit as a way to punish the buyer. The buyer doesn't automatically get the entire deposit back, even when they are not at fault.

First, there may be a small amount of cancellation fees that must be paid. These fees are collected from the deposit. Second, since the deposit is held in trust, both the buyer and seller must agree on the disposition of the funds in writing and signed by all parties.

If something goes wrong very early in the deal, the seller normally understands and the deposit is usually refunded to the buyer without a fuss. When things go south later on in the transaction, both parties usually exercise common sense and negotiate a fair solution. It is uncommon that the buyer and seller don't agree.

The point is that is always makes sense to reach an agreement. Failure to agree ties the money up for awhile, which could possibly lead to further legal action and inconvenience, and it just becomes a frustrating mess for both sides -- more so than you realize at the time.

Serious problems are the exception, not the rule. Most challenges are routine to a qualified professional real estate agent. The situation may be new to you, but the agent may have dealt with it many times in the past.

Georgia Home Buyers Tips Blog: Are you thinking about buying a home in Cobb County Georgia?

I must say that it doesn't surprise me at all how much people believe the media because I used to until I started to research things on my own.

Over the last few months I've worked with a couple of investor home buyers who were attempting to buy a home.

They have the information they hear on tv and advice that people who are not real estate professionals give them (most often people who don't even own a home themselves) so much into their thought process that they can't see reality.

The news says it's a buyer's market which is somewhat true. That doesn't mean that you can find a great home at a good price and it's going to still be around after you've looked at 20 other homes.

Many times home buyers in the metro Atlanta Georgia area have told me they really liked a home but continued looking at other homes for sale in Cobb County Georgia and a few days or weeks later they think the original home that they really liked is still going to be available. I tell them it's pending sale and they can't believe it. Don't think you are the only one who liked it and have the ability to buy it.

Another misconception home buyers have about the current housing market in the metro Atlanta Georgia area is about the listing price vs. the value of the home vs. what you should offer. MOST of the homes that I've seen that are listed in GAMLS and FMLS are priced at or below current market value. So will your offer $50,000 below list price get accepted? Not likely.

I always send my clients a comparative market analysis (CMA) which will show the estimated value of the home, before I write up an offer. I'm not going to let my clients overpay for a home and neither will their lender, that's why they have an appraiser go out to appraise the home.

Stop listening to the media and your friends and family before they make you miss out on the perfect home! By the way, what real estate school did they get their license from?

You certainly have the right to purchase any home you want and I will give you all the showings you need until you're satisfied. But don't think I'm mis-informing you when I tell you that 1st home you really loved is already sold or the home that had no offers on it when I first showed it to you now has multiple offers and the listing agent is asking for your highest and best.

Thursday, April 14, 2011

Gov't orders 14 lenders to reimburse homeowners  | ajc.com

Atlanta Georgia Market Conditions, News Reports & Trends

Atlanta Georgia Market Conditions, News Reports & Trends

This report is prepared for single family residences in the Atlanta Georgia market area.

The median list price in Atlanta is $209,700, it is showing a strong upward trend.

The (MAI) Market Action Index is 16.1 (Buyer's Market) it is showing a strong upward trend (towards being a Seller's Market=MAI 30 or higher).

The Asking Price per square foot is showing no change.

The average number of days on the market is 167, it is showing a strong downward trend.

36% of properties had a price reduction.

12% of properties were re-listed.

2% of properties were flipped with a price increase.

Home sales have been exceeding new inventory for weeks, prices have responded by moving upward.

This information is current as of April 11, 2011.

View the Georgia MLS listings then contact me!
Priscilla Hammond
Licensed Real Estate Salesperson
Maximum One Realty Greater Atlanta, GA
5041 Dallas Hwy #700
Powder Springs, GA 30127
(404)503-6562 Mobile
priscillahammond@live.com

Monday, April 11, 2011

What criteria is important when buying a home?

  1. An excellent Real Estate Professional (like me) who will work hard at finding the perfect home for you!!!
  2. An excellent Lender who can get you pre-qualified for your mortgage loan I have Mortgage Bankers  who’ll find all the rate discounts etc. that you can take advantage of. Knowing how much you can afford is a MUST before you start searching.
  3. YOUR preferred location.
  4. How many levels you want (ranch, basement, 2 story, split level, etc)
  5. The age of the house you desire.
  6. How many bedrooms you want.
  7. How many bathrooms you want.
  8. If you need a garage or not.
  9. What size yard/lot you want.
  10. What size square footage you want.
  11. If you want to live in a Subdivision or not (this will factor in with the age of the home-most new homes are in subdivisions, unless they were custom built).

The above items are the most important things to look for when you’re buying a home. Most all other criteria can be modified or changed to your liking (watch the shows on A&E, HGTV or DIY). I hope these home buyer tips are helpful for you and I wish you much success in your Georgia Real estate endeavor.

Call me if you’re wanting to buy a home in Cobb, Clayton, Fulton, Dekalb, Douglas or Gwinnett County in Georgia so we can get started!!!
Priscilla Hammond

(404)503-6562

Wednesday, April 6, 2011

Short Sale Tips Do's & Dont's For Buyers & Their Agents

The 1st misconception that I want to make clear about purchasing a Short Sale home is that YOU ARE NOT necessarily getting a great bargain. You are only buying the home for less than what the current owner owes on their mortgage, and in these days & times where people owe almost double the current value on their homes, that means nothing. SO DO NOT think that just because you're buying a Short Sale you're getting the best deal.

Strongly urge the buyer to not invest any money into the property until the bank approves the Short Sale.

Don't lock in mortgage rates as they may expire costing the buyer money.

A specific timeframe for Short Sales cannot be determined nor guaranteed.

Be patient! Short Sales can be a very long process.

The listing (seller's) agent SHOULD provide the selling (buyer's) agent with weekly calls/texts/emails with updates so they can keep the buyer informed, but this doesn't always happen and your (buyer's) agent has little control over this matter.

MOST Short Sales turn around approvals within 60-150 days.

If the buyer has a situation where they don't have time to sit and wait (with the possibility of still getting a NO from the bank & having to start the home search all over again) then maybe skipping Short Sales altogether would be a better decision for you.

The Short Sales contract is a legally binding contract as with a traditional home purchase.

DO NOT try to purchase a Short Sale on your own without the help of a licensed real estate agent.

In a Short Sale the home IS still owned by the homeowner (not the bank).

The homeowner will sign the contract and the contract will become binding subject to the bank's approval of terms.



Tuesday, April 5, 2011

Unique Converted Homes - CNBC

Time To Make A Move

You have been hearing that it's a buyers market, so chances are you'll get more house for less money.

Georgia home prices are the lowest they've been in years.

Low home prices and low mortgage loan rates mean a great savings opportunity for you.

But don't wait too long.

While mortgage rates are currently low, they are predicted to rise soon. Don't miss your chance!!!

Sunday, April 3, 2011

Would you like to know all crimes reported near an address?

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