I did a search for you for just your street to see how things are doing. On Habersham Marina Rd, there was one sale in 2007. It sold at $210,500. In 2008, there were no sales. And, from 1/1/09 to date, there have been 2 sales. They were: $190,000 and $191,000. This equals a 10% depreciation in value since the market decline.
Like the other agents, you really want to have the home appraised by a Certified Appraiser. I recommend using Scott Murphy (Murphy & Associates). He is highly reputable and is on the Board of Appraisers for GA.
In terms of refinancing, you should be able to refinance for a lower rate, but most likely will not be able to pull additional money out if your loan amount is higher than the current market value. I also have a wonderful lender I can recommend to you. His name is Jeff Morris, he is local and with SunTrust. He is absolutely wonderful to work with and will take excellent care of you. Tell him Melanie Gurley referred you to him. His email address is Jeff.Morris@SunTrust.com, cell is 770-842-3480.
Best wishes to you all. If I can be of further help to you, please call or email me...anytime!!
Melanie Gurley - 770.596.5965
It will depend on your home in relation to the two sales that occured in 2009. One at $191,000 and one at
$190000. If your home is similar to those two the decline in value is huge. To compare mortgage companies go to http://www.hsh.com this will give you an unbiased opinion and some great calculation tools. If you would like a personal recommendation call me and I would be happy to give you ome local sources.
Month 1-12 13-24 % Change
February 257,780 262,168 - 1.7%
March 295,689 339,870 - 13.0%
April 294,179 305,668 - 3.8%
May 326,604 317,192 3.0%
June 349,552 292,289 19.6%
July 349,860 319,432 9.5%
August 306,471 342,419 - 10.5%
September 313,733 317,227 - 1.1%
October 303,696 321,742 - 5.6%
November 272,580 297,431 - 8.4%
December 323,215 299,778 7.8%
January 372,950 313,243 19.1%
The only way to know for sure is to hire an appraiser before you start the re-finance, or go ahead and talk to a mortgage advisor and let them begin the process for you. Here are two of our preferred lenders you may want to speak with before moving ahead. Good Luck!
Your Mortgage Advisor
PHH Mortgage, Inc
Senior Mortgage Planner
Community Mortgage Services