Home Buying in Atlanta>Question Details

Kim Hunnicutt, Other/Just Looking in Acworth, GA

how do we inquire about this property?

Asked by Kim Hunnicutt, Acworth, GA Mon Jan 26, 2009

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This question is about this property: http://www.trulia.com/foreclosure/2002881297--Chester-Ave-At…

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How to Choose a Home
Here are some tips to help determine which house is best for you.

Once you've settled on a couple of preferred neighborhoods for your home search, it's time to pick out a few homes to view. Having a house features “wish list” keeps you focused on which features are most important to you.

When narrowing down your home search, consider the following:

know what types of home you want to buy
determine what age and condition of the house you want to buy
consider resale potential
use a features wish list to keep focused
use a home search comparison chart to keep organized
act decisively when you find the right home
Determine What Type of Home You Want to Buy
There are several forms of home ownership: single-family homes, multiple-family homes, condominiums and co-ops.

Single-family homes: One home per lot.

Multiple-family homes: Some buyers, particularly first-timers, start with multiple-family dwellings, so they'll have rental income to help with their costs. Many mortgage plans, including VA and FHA loans, can be used for buildings with up to four units, if the buyer intends to occupy one of them.

Condominiums: With a condo, you own "from the plaster in." You also own a certain percentage of the "common elements" - staircases, sidewalks, roofs, etc. Monthly charges pay your share of taxes and insurance on those elements, as well as repairs and maintenance. A homeowner’s association administers the development.

Co-ops: In some cities, cooperative apartments are common. With co-ops, you purchase shares in a corporation that owns the whole building, and you receive a lease to your own unit. A board of directors, comprised of owners and elected by owners, supervises the building management. Monthly charges include your share of an overall mortgage on the building.

Decide What Age and Condition of Home You Want to Purchase
Weigh your needs, budget and personal tastes in deciding whether you want to buy a newly constructed home, an older home or a "fixer-upper" that requires some work.

Consider Resale Potential
As you look at homes, you may want to keep in mind these resale considerations.

One-bedroom condos are more difficult to resell than two-bedroom condos.
Two-bedroom/one-bath single houses generally have less appeal than houses with three or more bedrooms, and therefore have less appreciation potential.
Homes with "curb appeal," i.e., well-maintained, attractive and with a charming appearance from the street, are the easiest to resell.
The most expensive houses on the street, or ones with anything unusual or unique are not suited for resale. The best investment potential is traditionally found in a less expensive, more moderately sized home.
Use a Features Wish List to Keep Your Search Focused
Make a features wish list to clarify which features are most and least important to you when looking for a home. Using this features wish list will keep your house hunt focused and effective.

Use a Home Comparison Chart to Keep Your Observations Organized
While house hunting, it's a good idea to make notes about what you see because viewing several houses at a time can be confusing. Use a home comparison chart to help you keep track of your search, organize your thoughts and record your impressions.

Act Decisively When You Find the Right Home
Before you begin the home buying process, resolve to act promptly when you do find the right house. Every REALTOR® has stories to tell about a couple who looked far and wide for their dream home, finally found it, and then said, "We always promised my Dad we'd sleep on it, so we'll make an offer tomorrow." Many times the story had a sad ending - someone else came in that evening with an offer that was accepted.

Resolve that you will act decisively when you find the house that’s clearly right for you. This is particularly important after a long search or if the house is newly listed and/or underpriced.
0 votes Thank Flag Link Thu Feb 12, 2009
Marc is accurate and I'll build on that - we've completed and continue to complete appraisals in this area for lenders as they take back properties. I would urge strong caution if for nothing else than the idea that the rehab alone might cost more than the house - then add the aggrivation that comes with all of that.

Hank
0 votes Thank Flag Link Wed Jan 28, 2009
Kim,

There are a series of those duplexes in that part of Reynoldstown (3 or 4 in a row). They're all in need of renovation but there is decent stuff around them (redeveloped trucking yards that are lofts and townhomes now). I've had a couple of clients take a look at these when they were priced higher. The numbers didn't work then but at this price they just might.

Marc
Web Reference: http://www.marctakacs.com
0 votes Thank Flag Link Tue Jan 27, 2009
Whether you are just looking or serious about your search, I always recommend a Real Estate professional to educate and guide you through this process. I agree that a lot of websites out there are “pay per view" when it comes to detailed, up to date information; be careful some are costly. You can inquire about this property and many others by contacting me direct or registering at our website below. It's totally free and you will receive a Free Buyers Guide.
0 votes Thank Flag Link Tue Jan 27, 2009
Kim,

Realty Tracs posts property that may or may not be for sale as posted in hopes of luring people to purchase their mailing services.

The best way to acquire accurate information on this home is to contact a local real estate professional.

Good luck
0 votes Thank Flag Link Tue Jan 27, 2009
It's a 4 bedroom/4bath REO(bank owned) home. Let me know if you want more details, neighborhood information, condition of property,etc.
Web Reference: http://www.LaurieCass.com
0 votes Thank Flag Link Tue Jan 27, 2009
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