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Home Buying in Kennesaw : Real Estate Advice

  • All169
  • Local Info23
  • Home Buying41
  • Home Selling5
  • Market Conditions6

Activity 35
Wed Jun 12, 2013
Bob Southard answered:
Inventory is low right now. No doubt about that. As far as pocket listings, I never have them. Once I have a listing it goes on MLS, Trulia, zillow, my website, etc ASAP.

If you have a buyers agent then make sure they have an automated search set up for you. In fmls make sure the settings are for asap and not daily. That way you get the listing right away instead of the next morning.

When you see one like act fast!

Good luck!
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Fri Jun 21, 2013
Fred Yancy answered:
Over the 30 years of being in the business, I've sold houses to 100's of new buyers. The most important thing for you to take into consideration, do you like and trust your agent. If you do not have a great working relationship, you will doubt the process every step of the way. Here are 5 of the most common first time buers make:

They don't ask enough questions of their lender and end up missing out on the best deal.

They don’t act quickly enough to make a decision and someone else buys the house.

They don't find the right agent who’s willing to help them through the homebuying process.

They don't do enough to make their offer look appealing to a seller.

They don't think about resale before they buy. The average first-time buyer only stays in a home for four years.


Fred Yancy, Broker
Crye-Leike Realtors
(678) 799-4663
http://freyancy.crye-leike.com
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Sun Oct 6, 2013
Solomon Greene answered:
Hello Samantha,

Thanks for your message. You'll find a lot of information on Georgia Dream both at http://www.gadream.com/ and my blog, http://www.AtlantaDownpaymentAssistance.com. You should plan to have handy around $2500 of your own money to make Georgia Dream work.

Earnest Money - $1000
Appraisal - $450 (depending on the lender)
Home Inspection - $325 (depending on your choice of home inspector)
Cushion - $725 - because we don't know what we don't know.

Please also be mindful that lenders will charge an origination fee of up to two-percent, so you'll likely still need to negotiate in some seller contribution to closing costs.

Hope that helps.

Solomon Greene
Georgia Real Estate Brokers Associate, REALTOR®, Certified Affordable Housing Counselor, CDPE
Keller Williams Realty Atlanta Partners
(678) 775-2677
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Wed Jun 12, 2013
Ron Thomas answered:
Remember, back in September, when your Agent told you that you have to be PATIENT; that it could take 5 or 6 months, and maybe even a year?

I hope you are not making her life miserable.

The Bank has absolutely no obligation to hurry this up for you.
In fact, the Bank has no obligation to say YES!

You should go back to being patient; you were patient before, right?
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Thu Dec 20, 2012
answered:
As one of the largest direct lenders in the country, Prospect Mortgage offers one of the largest selections of loan programs available. In addition to the standard conventional, FHA, VA, USDA, and Jumbo, we also offer a wide range on Renovation loan programs. Our Renovation programs include FHA 203K (Streamline & Consultant versions), HomePath Renovation, and HomeStyle Renovation.

For the FHA 203K program, some lenders only offer the Streamline FHA 203K. That does not give you any options should you encounter the need for the Consultant version for structural repairs or if you are looking for renovations in excess of the Streamline’s $35,000 limitation. Working with a direct lender who offers bother the Streamline and Consultant versions is very important.

For HUD’s Fiscal Year ending 09/30/12, Prospect Mortgage was the 2nd largest volume FHA 203K lender in both the country and the Metro Atlanta market. At Prospect Mortgage, we have a dedicated operations center that only handles our renovation mortgages.

Selecting a loan officer that knows the program inside and out is the key. If your loan officer is not experienced in closing a lot of these types of mortgages, then it will be a very challenging experience for you. Allow an average of 45-60 days for your 203K closing. Prepared buyers are often able to close sooner than that. Some have closed in under 30 days when they are very prepared.

All renovation work will need to be completed by a licensed and insured contractor. I have heard that some lenders may require the use of certain contractors. At Prospect Mortgage, you are free to use any contractor that you wish that meets the minimum requirements as we do not maintain any type of approved contractor list or provide contractor recommendations.

Other than for appliances in certain situations, you may not use any of the big box retailers (i.e. Best Buy, Home Depot, Lowe’s, etc). This is because they will not sign any of the HUD required 203K contractor forms.

Use of a HUD Consultant is required on the Consultant FHA 203K and highly suggested on the Streamline version.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
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Mon Aug 27, 2012
Fred Yancy answered:
Darrell: I agree with you. I have a long list of approved ready to go buyers with nothing to sell them. Banks have been promising for months that they would be releasing foreclosed inventory but I still have not seen any results of that. The house next door to me foreclosed two years ago and still has not been put on the market. Prices are definately on the rise due to the lack of inventory. ... more
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Sun May 20, 2012
Elizabeth Kirk answered:
Hello,
My name is Elizabeth with Remax Legends. Yes you can purchase a home but it depends on how long ago the home in CA foreclosed. I would need more information to help you! Feel free to call me at 770-355-7163 and I can get more information regarding your situation and see if we can get you in a home!
Thanks,
Elizabeth
... more
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Thu Aug 2, 2012
Laquita Baez answered:
Whats the address Brice? Then i can answer question
0 votes 3 answers Share Flag
Wed Mar 21, 2012
Michael Hammond answered:
Monitored. Yes. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com ... more
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Sat Jul 9, 2011
Irene Moriarty answered:
You really need to check with a mortgage professional but I do not see why not. Neither my husband nor I are citizens and we both have permanent residency here in Georgia. We had no problems obtaining a mortgage for our property.

Irene Moriarty
Coldwell Banker Atlanta
404-433-8567
irene.moriarty@coldwellbankeratlanta.com
... more
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Fri Jul 8, 2011
Scott Godzyk answered:
Tina it is as many times as they want basically, usually it is 3 though, a soft credit at initial application, a hard copy once it hits under writing and once more right before you close to make sure you have not bought anything that changes your debt to income ratios. ... more
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Wed Jul 6, 2011
Bob Southard answered:
Purchasing and owning would not be difficult at all. The challenge would be obtaining a mortgage. So if you have cash or line of credit from a bank there, then the biggest challenges would just be the distance.

If want to try to get a mortgage from a U.S. lender that could best be answered by a lender. However, I suspect that it would be difficult.
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Sun Jun 5, 2011
Bill Eckler answered:
Ken,

You hit the nail on the head....buyers today should be viewing their future purchases with a consideration for what the future value of the property be. Without knowing this community there are two points of interest.

First, if your information is correct and this home's value has decreased only $9,000 I would regard this as a possitive thing. A $9,000 decrease in value is a modest drop and may be an indication of a solid and desirable community.(if this information is accurate)

Secondly, in contrast to this is the fact that there are many "foreclosures" within the community. This is not an indication of a community with a solid foundation for home values.

We recommend beginning your search with the support of a local real estate professional that can help you process the area's sales information so you can proceed as an informed buyer.

Best wishes,

Bill
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Mon Apr 1, 2013
Gerard Carney answered:
Pending means an offer has been made on the property, and it has been accepted, and the process is working towards closing, which is it is pending to close. This means for all intense purposes this home is sold, but mortgages fail to happen and financing sours the deal and the property may be back on the market it that happens. If it makes closing then it will be reclassified as closed by the local MLS. Some pending properties will still take secondary or back up offers just in case the property sale fails or defaults. Short Sales allow this all the time, in fact the bank requires offers to be taken even in pending mode! ... more
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Wed Aug 26, 2015
John Morris answered:
Pal:

A great resource is listingbook.com which is a free resouce for buyers that allows you to search the MLS just like a realtor. It is updated every 30 minutes, so you get the most up to date listings, price changes, and status changes. It will show you all the information that we as realtor see. You can get your free account at www,johnmorris.listingbook.com ... more
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Sat Feb 13, 2010
Hank Miller answered:
This afternoon before the "Death Snow" hit the area I ran from the Emory area to up by Jiles Rd/41 in about 35 minutes - shot up 75 the entire way. Later this afternoon with the snow and rush hour, it was about 45 minutes from ECobb to Kennesaw - moral is that it depends.

If you're doing it during the rush hours I'd say 45-60 min on average - longer in weather and when there are accidents. I've watched the same light change 4 times on Barrett - they should hang that traffic designer...

Hank
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Thu Apr 7, 2011
John Zimmerman answered:
I'd say unless you want to own a home in Georgia with people who live in it for free, don't buy it. Keep in mind if they will be selling it to you through a short sale that it is illegal to sell to a family member or relative.

If you want to help them why not just "loan" them the amount they are behind to bring it current. If you wanted the money back you could attach a Trust Deed to the house so if they don't eventually lose it to foreclosure and decide to sell it you'll at least get your money back.

That's a tough situation but buying it to save them does not sound like a good idea.

Good luck,
John
... more
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Wed Dec 23, 2009
Maureen Francis & Dmitry Koublitsky answered:
Most likely you have no recourse. The seller has to sign a purchase agreement with you and they won't unless it is at terms they will accept. The mls listing ticket does not create an obligation for them to sell the house in anyway. ... more
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Mon May 4, 2015
Stephanie McCarty answered:
In the state of Georgia an official wood destroying organism infestation report and inspection is not required by law. However, it could be required by the lender, particularly if the loan is FHA insured. Hope this helps. ... more
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Thu Nov 12, 2009
Michael Hammond answered:
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