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Emily Peker, Atlanta Realtor Blog

Everything you wanted to know about real estate but were afraid to ask

By Emily Peker, Team Leader | Agent in Atlanta, GA
  • Happy Veterans Day! Ask me about your USAA cash back awards when buying or selling!

    Posted Under: Home Buying in Newnan, Home Selling in Newnan, Financing in Newnan  |  November 11, 2012 11:43 AM  |  532 views  |  No comments

    Sending out Happy Veterans Day wishes to all our Military, thank you for your Service! As a USAA Realtor, I can provide you and/or your extended family with cash-back awards when buying or selling any real estate. USAA says thank you everyday with the USAA Movers Advantage Program! Ask me how...

  • Happy Veterans Day! Ask about your USAA cash back awards...

    Posted Under: Home Buying in Atlanta, Home Selling in Atlanta, Financing in Atlanta  |  November 11, 2012 11:38 AM  |  373 views  |  No comments
    Sending out Happy Veterans Day wishes to all our Military, thank you for your Service! As a USAA Realtor, I can provide you and/or your extended family with cash-back awards when buying or selling any real estate. USAA says thank you everyday with the USAA Movers Advantage Program! Ask me how...

  • How do others view your home? Not all eyes see the same thing...

    Posted Under: Home Buying in Atlanta, Home Selling in Atlanta, Financing in Atlanta  |  September 1, 2012 3:28 AM  |  372 views  |  1 comment

    Your Home - Different Viewpoints

    Have you ever thought of your home- and the way it’s viewed by others? It is sort of interesting and funny thinking about the way others see your home. I guess it does depend on the person looking at your home. Homes have a funny way of appearing different to those touring your home.

    Here’s an interesting viewpoint of your home, your home takes-on dramatic differences, just look at this example below!

    Lenders View~

    Your View~

    Buyers View~

    Property Tax View~

    Appraiser View~

    I guess it just depends on the person! Your Home - Different Viewpoints

  • COMING SOON - New Short Sale Guidelines

    Posted Under: Home Buying in Atlanta, Financing in Atlanta, Foreclosure in Atlanta  |  August 31, 2012 2:05 PM  |  486 views  |  1 comment

    New Short Sale Guidelines Coming Soon

    Date:August 29, 2012|Author:Justin McHood|

    2011 and 2012 may well go down in history as “the years of the short sale.” Through the first six months of 2012, Fannie Mae had completed 38,717 short sales, and in 2011 it completed 70,025 total.

    If you are in a situation where you owe more on your mortgage than your home is currently worth, chances are you have at least thought about short selling your house.

    Recently the Federal Housing Finance Agency announced that both Fannie Mae and Freddie Mac are issuing new guidelines for mortgage servicers that will essentially consolidate all short sale programs into one streamlined program.

    These updated short sale program rules will allow lenders to qualify someone for a short sale, and homeowners will more easily be able to tell if they are eligible for a short sale.

    New short sale guideline highlights

    Under the new guidelines going into effect Nov. 1:

    • Homeowners with a mortgage backed by Fannie Mae or Freddie Mac will be able to do a short sale even if they are current on their mortgage if they have an eligible hardship such as
      the death of a borrower or co-borrower, divorce or legal separation, illness or disability, or a distant employment transfer.
    • Homeowners will be able to make a financial contribution at closing in exchange for the lender not pursuing them for a deficiency judgment later (assuming the homeowner has sufficient income and/or assets).
    • Military personnel who are being relocated will be automatically eligible for a short sale and will be under no obligation to contribute funds to cover the shortfall between the outstanding loan balance and the sales price on their homes.
    • Subordinate-lien payments will be limited to $6,000. Previously lenders would often attempt to negotiate a higher payment from the homeowner.
    • In certain circumstances, homeowners will be eligible to receive up to $3,000 in relocation assistance.

    New guidelines for lenders

    The FHFA also recently announced that lenders:

    • Must respond to short sales within 30 days of receipt of the short sale offer.
    • Must provide weekly updates to the borrower.
    • Must communicate a final decision to the borrower within 60 days of receipt of the offer.

    Combined these new short sale guidelines seem to indicate that homeowners who are faced with the difficulty of short selling a home will have a smoother transaction than ever before.

    Related:

    Justin McHood is America’s Mortgage Commentator and lives in the Phoenix, Arizona area. You can find Justin on Facebook, Twitter, and LinkedIn. He is happy to answer any mortgage-related questions that you may have.

    Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

  • 4 habits of highly effective house hunters!

    Posted Under: Home Buying in Buford, Financing in Buford, Credit Score in Buford  |  August 18, 2012 9:03 AM  |  564 views  |  No comments

    Habit No. 1: Be proactive. First, let's define success or "effectiveness" as a homebuyer as successfully Closing on a home that then meets one's and one's family's needs, for as many years as they want or need it to, without ending up in mortgage distress.

    Highly effective house hunters know that the ultimate responsibility for their success lies with
    them, not with their agent, mortgage broker, the home's seller or the market. So, they are proactive:
    They run their own household financials; they are careful not to overextend themselves; and they are diligent when it comes to viewing homes, reading inspection reports and following up on things, during and after the transaction.

    Habit No. 2: Put first things first. When it comes to homebuying, the very first step effective homebuyers take is the step of ensuring that they are financially ready for homeownership. That looks different for different people, but if you've struggled with debt or saving money, putting first things first in the context of your homebuying dream might actually involve nothing more than paying off your excessive debt, changing any dysfunctional financial habits you may have (like overspending) and creating good habits around putting money away.

    For other homebuyers, it might be as simple as obtaining a loan approval before they actually
    start the process of house hunting in earnest.

    Homebuyers who jump into looking at houses before they have handled their financial matters
    often end up taking on unsustainable or otherwise unwise mortgage obligations they might not
    have if they had put first things first.

    Habit No. 3: Begin with the end in mind. I've long believed the best way to approach the homebuying process is to sit down and devote an hour to writing out your personal "Vision of Home." The aim is to avoid jumping right into the granular details of how many bedrooms, bathrooms and square feet you need, but rather to invest some energy into cultivating true clarity on what you want your entire life to look like after you own this home.

    Buying a home is, in my opinion, the most wholesale opportunity to intentionally design nearly everything about your life that most people will ever embark on, given that it has potentially
    massive impact on nearly every area of your life, including:

    • your family;
    • your extracurricular pursuits and passions;
    • your finances;
    • and even your work life, in terms of commuting and comprising your largest expense (requiring you to keep a certain level of income and do whatever it takes, work-wise, to ensure that).

    Homebuyers who want to be effective should consider beginning with their endgame, their post-homebuying vision of how, where and with whom they will live, spend their time, work and play.

    Habit No. 4: Think win-win. Nowhere does it say that for the buyer to get a good deal, the seller must leave the transaction utterly dejected and depleted. In fact, many of the great brokers and agents in the world look at things precisely the opposite way: A seller wants to move on to the
    next phase of their life by selling this property, and the buyer wants to move on to his by buying it.

    Many highly effective agents see their role as facilitating both of these aims in a single transaction (while protecting their own clients' interests in the process). Further, many sellers truly, deeply
    care about their homes and neighborhoods and relish the thought of passing it to someone who
    will care for it and thrive there.

    This doesn't mean you should overpay for a property or otherwise fail to take advantage of
    market dynamics when they are in your favor. Rather, it means that effective house hunters often
    approach sticky negotiations with respect for the folks on the other side of the table and a willingness to be creative and flexible where they can to help get to a set of deal terms that
    works well for both sides.

  • 4 habits of highly effective house hunters!

    Posted Under: Market Conditions in Peachtree City, Home Buying in Peachtree City, Financing in Peachtree City  |  August 18, 2012 8:42 AM  |  461 views  |  No comments

    Habit No. 1: Be proactive. First, let's define success or "effectiveness" as a homebuyer as successfully Closing on a home that then meets one's and one's family's needs, for as many years as they want or need it to, without ending up in mortgage distress.

    Highly effective house hunters know that the ultimate responsibility for their success lies with
    them, not with their agent, mortgage broker, the home's seller or the market. So, they are proactive:
    They run their own household financials; they are careful not to overextend themselves; and they are diligent when it comes to viewing homes, reading inspection reports and following up on things, during and after the transaction.

    Habit No. 2: Put first things first. When it comes to homebuying, the very first step effective homebuyers take is the step of ensuring that they are financially ready for homeownership. That looks different for different people, but if you've struggled with debt or saving money, putting first things first in the context of your homebuying dream might actually involve nothing more than paying off your excessive debt, changing any dysfunctional financial habits you may have (like overspending) and creating good habits around putting money away.

    For other homebuyers, it might be as simple as obtaining a loan approval before they actually
    start the process of house hunting in earnest.

    Homebuyers who jump into looking at houses before they have handled their financial matters
    often end up taking on unsustainable or otherwise unwise mortgage obligations they might not
    have if they had put first things first.

    Habit No. 3: Begin with the end in mind. I've long believed the best way to approach the homebuying process is to sit down and devote an hour to writing out your personal "Vision of Home." The aim is to avoid jumping right into the granular details of how many bedrooms, bathrooms and square feet you need, but rather to invest some energy into cultivating true clarity on what you want your entire life to look like after you own this home.

    Buying a home is, in my opinion, the most wholesale opportunity to intentionally design nearly everything about your life that most people will ever embark on, given that it has potentially
    massive impact on nearly every area of your life, including:

    • your family;
    • your extracurricular pursuits and passions;
    • your finances;
    • and even your work life, in terms of commuting and comprising your largest expense (requiring you to keep a certain level of income and do whatever it takes, work-wise, to ensure that).

    Homebuyers who want to be effective should consider beginning with their endgame, their post-homebuying vision of how, where and with whom they will live, spend their time, work and play.

    Habit No. 4: Think win-win. Nowhere does it say that for the buyer to get a good deal, the seller must leave the transaction utterly dejected and depleted. In fact, many of the great brokers and agents in the world look at things precisely the opposite way: A seller wants to move on to the
    next phase of their life by selling this property, and the buyer wants to move on to his by buying it.

    Many highly effective agents see their role as facilitating both of these aims in a single transaction (while protecting their own clients' interests in the process). Further, many sellers truly, deeply
    care about their homes and neighborhoods and relish the thought of passing it to someone who
    will care for it and thrive there.

    This doesn't mean you should overpay for a property or otherwise fail to take advantage of
    market dynamics when they are in your favor. Rather, it means that effective house hunters often
    approach sticky negotiations with respect for the folks on the other side of the table and a willingness to be creative and flexible where they can to help get to a set of deal terms that
    works well for both sides.

  • 4 Habits of highly effective house hunters!

    Posted Under: Home Buying in Atlanta, Financing in Atlanta, Home Ownership in Atlanta  |  August 18, 2012 8:37 AM  |  432 views  |  No comments

    Habit No. 1: Be proactive. First, let's define success or "effectiveness" as a homebuyer as successfully Closing on a home that then meets one's and one's family's needs, for as many years as they want or need it to, without ending up in mortgage distress. 

    Highly effective house hunters know that the ultimate responsibility for their success lies with
    them, not with their agent, mortgage broker, the home's seller or the market. So, they are proactive:
    They run their own household financials; they are careful not to overextend themselves; and they are diligent when it comes to viewing homes, reading inspection reports and following up on things, during and after the transaction.

    Habit No. 2: Put first things first. When it comes to homebuying, the very first step effective homebuyers take is the step of ensuring that they are financially ready for homeownership. That looks different for different people, but if you've struggled with debt or saving money, putting first things first in the context of your homebuying dream might actually involve nothing more than paying off your excessive debt, changing any dysfunctional financial habits you may have (like overspending) and creating good habits around putting money away.

    For other homebuyers, it might be as simple as obtaining a loan approval before they actually
    start the process of house hunting in earnest.

    Homebuyers who jump into looking at houses before they have handled their financial matters
    often end up taking on unsustainable or otherwise unwise mortgage obligations they might not
    have if they had put first things first.

    Habit No. 3: Begin with the end in mind. I've long believed the best way to approach the homebuying process is to sit down and devote an hour to writing out your personal "Vision of Home." The aim is to avoid jumping right into the granular details of how many bedrooms, bathrooms and square feet you need, but rather to invest some energy into cultivating true clarity on what you want your entire life to look like after you own this home.

    Buying a home is, in my opinion, the most wholesale opportunity to intentionally design nearly everything about your life that most people will ever embark on, given that it has potentially
    massive impact on nearly every area of your life, including:

    • your family;
    • your extracurricular pursuits and passions;
    • your finances;
    • and even your work life, in terms of commuting and comprising your largest expense (requiring you to keep a certain level of income and do whatever it takes, work-wise, to ensure that).

    Homebuyers who want to be effective should consider beginning with their endgame, their post-homebuying vision of how, where and with whom they will live, spend their time, work and play.

    Habit No. 4: Think win-win. Nowhere does it say that for the buyer to get a good deal, the seller must leave the transaction utterly dejected and depleted. In fact, many of the great brokers and agents in the world look at things precisely the opposite way: A seller wants to move on to the
    next phase of their life by selling this property, and the buyer wants to move on to his by buying it.

    Many highly effective agents see their role as facilitating both of these aims in a single transaction (while protecting their own clients' interests in the process). Further, many sellers truly, deeply
    care about their homes and neighborhoods and relish the thought of passing it to someone who
     will care for it and thrive there.

    This doesn't mean you should overpay for a property or otherwise fail to take advantage of
    market dynamics when they are in your favor. Rather, it means that effective house hunters often
    approach sticky negotiations with respect for the folks on the other side of the table and a willingness to be creative and flexible where they can to help get to a set of deal terms that
    works well for both sides.

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