Seller Announces,”NO CLOSING COSTS”

Fannie Mae, the largest provider of residential home funding in the United States, announced Friday that it would pay the closing costs on purchases of foreclosed homes in its inventory.  The government-controlled company said buyers of qualified properties will get up to 3.5 percent in closing costs, or an equivalent amount for the purchase of new appliances.

Get Ready. Set. SALE in 2010!

Due to the homebuyer tax credit and the extremely low interest rates, now can potentially be your opportunity as a homeowner to sell your home.  But in this real estate market, since buyers have a plethora of choices, it is vital that your first impression be your best and make a lasting impact on the buyer.  Here are 10 inexpensive ways that any serious Seller should do to sale his/her home in 2010.

What You Didn’t Know About the Homebuyer Tax Credit

So you have either purchased or are getting ready to purchase real estate before the tax credit deadline in April 2010 but the homebuyer tax credit is not as simple or straightforward as you might think.  Here are some nuances that will affect homebuyers who plan to use it.

 

Savings for Teachers, Police Officers, Firefighters, & EMTs

Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD’s Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home for homebuyers. In return you must commit to live in the  real estate property for 36 months as your sole residence. 

Has This Home Been Damaged? Website to Check

Now, more than ever, before buying a home, you may wonder, “Has this home been flooded or incurred some other form of damage?”.   Caveat emptor or “buyer beware” is paramount in this real estate market.  You can ask the Seller but what if they don’t know the full history or have “selective memory”, this is especially true if you are buying a home that has been foreclosed on from a bank.  There is another option - before you buy real estate, you should also check the Comprehensive Loss Underwriting Exchange (CLUE) report. 

Voice Your Opinion on Redeveloping I-285

Is there an alternative to I-285 traffic? In 2006, the Georgia Department of Transportation and the Georgia Regional Transportation Authority launched revive 285 top end, an initiative to develop a transportation solution for the northern I-285 corridor between I-75 and I-85. The project team is seeking more input and is asking for your help. Go online to www.revive285.com to voice your opinion.

Pay Only $100 Down and Receive $1000 Back on Your Next Home Purchase

So you are ready to purchase a home but hate how much you have to come up with for the downpayment.  At minimum you may have to pay 3.5% of the purchase price of the home down and at maximum you have to pay 20% down depending on the lender.   You wish there was an alternative that worked for you since your income will not allow you to qualify for the various low income-restricted down-payment assistance programs (if you think you income will qualify you for the down-payment assistance programs, email places2love@gmail.com and we will send a list of programs that offer down-payment assistance).  Well, there is hope!  There is an option where you only pay $100 down on your loan and you also may receive $1000 back at closing - this is a great option that more and more buyers are taking advantage of and it maybe worth you examining. 

Increase Your Business in 2010

Have a business that you want more exposure for?  Or, interested in learning about some of the new businesses and their resources?   Admission to the Business Expo is FREE and this event is open to the public.  If you are a business owner, sign up to participate in the Sandy Springs/ Perimeter Chamber of Commerce’s Business Expo today and network with 94 exhibitors and hundreds of potential customers! Check out www.sspcexpo.org to see who’s already signed up to participate.

Places To Love: REDDINGTON TOWNHOUSES

If you have been searching for a city-chic townhouse with plenty of space in Metro Atlanta, check out Reddington Townhouses as this prime real estate community may end your search.  Take a virtual tour of one of the homes at Reddington by cicking here.   Situated in the heart of Sandy Springs off Hammond Rd. and Sandy Springs Circle, Reddington will give you an easy commute to I-285, GA 400, I-75 and I-85.  And it is convenient to Marta, dining, shopping, movies and more.

SELLERS: How to Spot the Best Offers

Sellers who get more than one offer should be aware that the highest offer isn’t necessarily the best offer - don’t let desperation to sell affect your judgment.  In this market, where buyers are not always able to complete a closing they have started, going with the buyer who has enough cash to pay a large down payment and who won’t be scared away if the inspection uncovers some needed repairs is often the wise choice.

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