Jason,

If you knew beyond the shadow of a doubt that you had selected the very best Realtor for you and your wife, then what one thing would that Realtor do that so greatly outshines all of the other 36,000 buyer agent candidates in metro Atlanta?

Tue Jul 22 2008, 13:16

Just to clarify, the 50% discount is for revitalization areas only and for HUD owned properties only. The $100 downpayment option can be used on any HUD foreclosure where you utilize FHA financing. In Fulton county, there are 103 govt owned properties currently listed on BidSelect and 111 other foreclosures (bank owned, would require regular downpayment programs). Fulton county stretches from Fairburn in South Fulton to Alpharetta in North Fulton so it makes more sense to do a search by zip code if you're intent on a special area) DeKalb county has 239 govt owned foreclosures on BidSelect and 46 other bank owned properties. As you can see, lots of inventory and this is just under $150,000. Remember that you do not have to bid the list price, you can bid less. Many govt owned properties are ineligible for FHA financing because repairs exceed $5000. However, there are still many properties available and the list changes daily. If the repairs are less than $5000 there may be an escrow account established to complete the repairs. As a consumer, you can sign up on the BidSelect websitehttp:// www.BidSelect.com for no cost and you only have to deal with an agent to look at properties and to make an offer. Before making an offer, be sure to have your pre qualification letter from a lender and make sure that lender is familiar with the $100 down program (I can tell you from experience that a majority of loan officers are not up to date or do not do "small FHA loans") Any questions, call or email.

Thu May 15 2008, 14:01

Revitalization areas in Fulton County include: parts of...30314 (Simpson Road, Anderson Park area), 30310 (around Ft. McPherson, Westview Cemetary), 30315 (Clevland Ave Area), 30318(Grove Park, Oakdale, Bolton area)
Revitalization areas in Dekalb County include: part of 30307 (Edgewood area) which would be an excellent investment option for you to consider, that will not be a part of this revitalization list for much longer.

For a look at the detailed map: http://hud.uai.com/hudpls/ViewMap.aspx?stfips=13

Thu May 15 2008, 12:30

The HUD program that Bill is referring to is called the Good Neighbor Next Door Program. If you're a firefighter, EMT worker, police officer, or TEACHER (grades pre-k through 12th) then you qualify for the program.

Basically the program allows individuals working full-time in these fields, with good faith to remain at that job, to purchase a home in a HUD-Designated Georgia Revitalization Area at a 50% discount from list price and you would only have to put $100 down (payment).

Requirements for this include:
- must purchase with FHA financing
-must live in the home as his/her primary residence for 36 months (3 years)
-Must submit an earnest money deposit of 1% the sales price of the home (not less than $500 and not to exceed $2000) --- earnest money is subject to forfeiture
-buyers nor their spouses may not have owned property in the last year
-buyers nor their spouses may not have ever partaken in the GNND program
-buyers in this program are responsible for closing costs and broker's commission
-buyers must purchase in close proximity to where they work
-The 50% discount will be applied at closing (therefore you must qualify for the full purchase amount, and offers must be made at full price).

Everyone LOVES a discount!!! Especially a 50% discount. For more information on this program and areas in the city where it applies, please don't hesitate to contact me.

Other areas that don't include this program for you to consider for a single-family home: Ormewood Park, East Atlanta, Reynoldstown, Kirkwood, and Edgewood --- all seeing a lot of appreciation, and for a fixer or foreclosure could fit into your price range.

Have a great Thursday & Good Luck!


Sarah Turner
Realtor
sarah.turner@yourownsanctuary.com

Sanctuary Real Estate, Inc.
300 North Highland Avenue Suite B | Atlanta, GA 30307
T: (404) 688-3363 | F: (404) 688-3372 | M: (404) 323-9976
www.yourownsanctuary.com

Thu May 15 2008, 10:48

You have heard from the experts regarding the special loans for teachers. We do them all the time. All these experts will tell you the first thing to do is to get prequalified and to review your credit ,which makes all the difference in the world. If you are not quite ready you can consider a lease/purchase. WWW.Rent2Ownlending.com. Give me a call at 404 237-7600 and I would be happy to advise you.

Karen The Coach
Not Just a Loan A Solution
karenthecoach@bellsouth.net

Thu May 15 2008, 10:26

Wow! Everyone wants your business!! :)

If you teach in Atlanta area, what about East Point. Just 8 miles SW of downtown Atlanta and still inside the perimeter. East Point has it's own police and fire departments with quick response. Friendly neighborhoods with diverse demographics. Its a small town within a big city. There are great priced renovated foreclosures and cozy bungalows that are non foreclosures all in your price range.

There is a growing downtown area with a Thumbs Up Cafe, burrito place, southern food, Thai Food, Pizza, Corner Tavern, banks, etc. Plus a skip to College Park and Hapeville, not to mention conveniences on Camp Creek Pkwy.

I would be happy to give you the nickle tour - no obligation.

Mon May 12 2008, 18:53

For value, look at HUD foreclosures. You can search by zip. Recently, there was a fantastic buy in East Atlanta in the 90s. Right now, there are 4 1 bedroom condos available at 75 Ponce (diagonal across from the Fox Theater) with a high list price of $141. While these are not HUD foreclosures, they are on the BidSelect website and you can bid less than listed price. The great thing about Ponce is that you will have a reverse commute for every direction. There are some tips I can share about foreclosure purchases, so just contact me.

Fri May 9 2008, 05:13

Your question should be how far and long are you willing to travel!
There are many great deals all over the Atlanta area and if you are looking a little outside of the area you will get more for your money, new homes or fairly new foreclosures.
Builders are hurting with this market today and are giving Amazing deals for Brand new homes with all the bells and wistles on it, but you want to make sure you get a good loan program before you start looking and be comfortable within your price range. Check out my web-site www.morerealestatellc.com
it has great tips thatt you might be able to use. Hope this helps and welcome to "the American Dream" .
Pauline Moore

Thu May 8 2008, 20:34

If you are looking in Doraville, are you also commuting to a school near Doraville?

What do you like to do when you are not working?

Are you going to live alone? If not, will you also have pets that require frequent attention?

You've seen some properties by now, so now, it sounds like you may need to review your most important criteria either with your real estate agent, or with some other agents that you are interviewing.

You can be in the right property by the end of this month if you have a great advisor and the right information about the options available to satisfy your criteria and your terms.

Now, it's all about networking.

Wed May 7 2008, 08:08

Jason,

As Shareen mentioned the Georgia Dream program is a great option for you since you are a teacher and can get some extra support when buying your home. You can go online and get some more information here: http://www.dca.state.ga.us/housing/Homeownership/programs/RU…

What area or school do you teach? I would be happy to locate some homes in your price range and include and foreclosure or corporate owned homes where you may be able to get more for your money!
I have access to some great resources for these types of homes that you will not find in your standard Multiple Listing providers.

James Dudley
ERA Sunrise Realty
678-781-7418
james.dudley@era.com

Wed May 7 2008, 07:47

Greetings Jason,

Depending on your income, there are tons of programs that may offer you financial assistance to get the home of your dreams. Did you know that because you are a teacher you qualify for a program called Georgia Dream? And that there are also other programs like Home Atlanta and ADA that can get you money. One other program that comes to mind is HUD, right now if you qualify for an FHA Loan or are a first time home buyer they are offering homes for only $100 Down. Trust me there are some nice properties priced below market value. Please give me a call (404) 840-4866. I would love to help you.

Tue May 6 2008, 18:37

Jason,

My first thought is to bring in an expert. I would highly recommend moving forward with a REALTOR. That is exactly what we do for a living and the fees are generally paid for by the seller. I have seen many statistics that back up the thought of going in with representation both on the seller side of things and buyer representation. All of the tools at our disposal can really maximize your home buying experience. This will open many more doors for you in your search for home.

When you state the "best neighborhood", it is very subjective and someone representing you will be able through their diligence, find a home and neighborhood that matche your criteria.

Please feel free to visit my website and take advantage of the search tools to continue browsing the current homes for sale. If I can be of further assistance, please contact me through the site and I am happy to help you realize your dream of owning a home.

Tue May 6 2008, 17:17

Jason,

Send me your email address and I will send you a list of all available homes in Doraville within your price range. Also let me know how many bedrooms and if age of home is important to you. Most of the homes in that area are older built in the 1950's and 1960's.

Your other option would be to consider a condo/townhome. I am not sure if that interests you at all.

Another option would be to go through the NACA program so you can get a 100% loan with no down payment and no closing costs, with this program you will actually get more house for the same monthly mortgage payment, Their interest rate as of today (May 6, 2008) is 5.125%. The rate is always 1% below market rate. I have several clients that have gone through and are going through currently. Why don't you go ahead and research the website and then call me so I can answer your questions. You will have questions. The website ishttp:// www.naca.com

I can also pull other areas of interest for you as well

Tue May 6 2008, 17:13