Jamal Liverp…, Home Buyer in Duluth, GA

Hi. My fiance are first time buyers and want to get a home dwtn and renovate it. Is this a good time?

Asked by Jamal Liverpool, Duluth, GA Tue Mar 4, 2008

Help the community by answering this question:


Hi Jamal !
It is a great time to buy real estate IF you can hold on to it for at least three years or so if this is solely an investment property be sure you can afford the monthly payments etc for that amount of time as well. If you are in a hurry to flip properties then I would not purchase now, and simply wait until the market changes. Please let me know if I can help out I have quick turnaround !
1 vote Thank Flag Link Wed Mar 26, 2008
excellent time! I'm attaching an article published in TIME magazine two weeks back. It gives a really excellent perspective on taking action now. My Husband and I have begun looking for investment property in downtown (Grant Park, Summerhill, Peoplestown, Blvd Heights area), and I'm working with 2 other sets of buyers looking for the same thing in downtown and in Decatur (Oakhurst, Kirkwood area) and there's A LOT out there! A lot of single family residences ranging between $80k-$250k that just needs a little TLC.

Read the article & give me a call or shoot me an email. I'd like to send you a few options, and take you and your fiance out to preview a few possibilities.

I live intown, love intown real estate, and would love working with you guys!

Have a great St. Patrick's Day!
Sarah Simmons Turner, Realtor
Sanctuary Real Estate
1 vote Thank Flag Link Mon Mar 17, 2008
They are NOT predicted to drop in Atlanta - at least not that drastically. With the state of the mortgage industry and the state of the housing market, the stars could not be more aligned to get a "good deal" (I hate saying that), and a great mortgage with a low interest rate.

Read as much as you can, don't trust everyone you talk to, and take the plunge. Regardless housing/land is still a solid investment, everyone needs it and the market will bounce back - my crystal ball says SOON!
0 votes Thank Flag Link Tue Mar 18, 2008
I don't like auctions, but there is a big one coming to your town.
because there are a lot bad loans given in Atlanta

good luck

don't be in a big hurry to buy

Most economists predicting at 15% decline in prices this year
0 votes Thank Flag Link Mon Mar 17, 2008

Get your real estate on. Time is of the essence.

Financing options are attractive and quite flexible, especially if you have steady income and growing assets.

Have you made contact with a reputable local mortgage lender? If so, then make sure that you ask them about the Atlanta Development Authority's "Home Atlanta Mortgage" program.

If you are making a downtown Atlanta purchase, and this is your first real estate investment, then this grant program will only last as long as the money is available. The goal is to spur economic redevelopment in specific areas of Atlanta.

One of my clients is closing on a $150,000 condo this month in Peachtree Hills with this loan, provided by Chase Mortgage.

Another one of my clients is looking at property with me today in Reynoldstown, East Atlanta, Edgewood, East Lake and Peoplestown - she is seeking to buy a single family fixer upper in the mid $100's.

Another one of my first time buyer clients used a different type of FHA loan in December on a Lakewood purchase of a 2/1 - his contractors received $40,000 in repair funds and his 90 year old house is as good as new! He paid $69,000 and financed the $40,000.

As I said, get your real estate on!
0 votes Thank Flag Link Tue Mar 4, 2008
Jamal, When is the best time to buy a House? In the buyer’s market. Why? Because you have more choices, upper hand on negotiation, prices are much lower, and cost of borrowing money is less than before. CAUTION! If you are purchasing the home as an Investment property, you should have a ready tenant to occupy the home and cover your Mortgage payment; otherwise, you end up losing money! Moreover, If you are purchasing it as your primary resident, than do not miss the opportunity! Buy Now!

Last word: Don’t wait to buy a Real Estate, Buy Real Estate and Wait!

0 votes Thank Flag Link Tue Mar 4, 2008

It's a great time to buy and invest if you can hold on to your property for a few years. It's not a great time to flip a home, but since this is your first home I would guess that you hope to stay in it for a few years.

Choosing the right intown location can be very important. Do you have an idea of where you might like to purchase? Price range? and How much you plan to invest on renovations? I would love the opportunity to help you find your first home. Just let me know if I can help.
0 votes Thank Flag Link Tue Mar 4, 2008
Hi Jamal - With still low interest rates, and very low home prices, it's a great time to buy! Are you planning to live in the home for a few years? If so, focus on the neighborhoods you like and I'm sure you will find a wonderful home!
Web Reference: http://www.helpinghomes.net
0 votes Thank Flag Link Tue Mar 4, 2008
This is probably the best buyers market on record. Low interest rates and reduced prices make it a really good time.
0 votes Thank Flag Link Tue Mar 4, 2008
It's an excellent time to do this IF you are going to keep the home for 3-5 years. Prices will not go much lower, and if you sit on the fence too long, they'll go back up. This is a great time to build wealth through real estate, as it will come back, it always has.
0 votes Thank Flag Link Tue Mar 4, 2008
Joshua Jarvis, Real Estate Pro in Duluth, GA
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