So what else can a seller do to make their home attractive to Homebuyers

• Good Schools: A strong school district influenced buyers to the tune of 27% according to the NAR survey, but with Buyers with kids below 18, that number soared to 55%, while buyers without kids dropped to 13%
• Neighborhood Amenity Access: Communities in close proximity to grocery stores, dry cleaners, restaurants, parks and recreation are a big draw.  Buyers want to know they are within a 5 mile drive to necessessities.
• Neighborhood Home Design:  Curb appeal is alwasy a big draw, and curb appeal with a unique design feel can draw certain buyers to a community.  Some buyers are looking for more than a huge master suite and 5 bedrooms.  The not-so-cookie cutter feel of communities like Montreaux-in-Towne appeals to those types of buyers.
• Neighborhood Reputation: Like curb appeal, a strong neighborhood reputation will make buyers flock to sales like moths to a flame. Some sellers wonder how to obtain that reputation, and a strong HOA along with very involved homeowners can help to keep a community beautiful, and in high demand.  Neighborhoods like Sugarloaf Country Club, and Saint Marlo Country Club are just examples of communities with very strong reputations.
• Parks and Amenities:  For prospective homebuyers with children and/or pets, a community in close proximity to parks and recreational facilities is also a strong draw and plays an important factor in choosing their new homes.

If you are thinking of selling your home, and your home does not have more than 2 of these popular items, contact us to find out more tips and tricks you can use to sell your home in this tough market.

What can $100 buy these days?  Some cool Jimmy Choo Shoes (barely), you can pay some bills with $100 (water, cable, phone bills maybe?), or you can probably fly one way or round-trip to Florida on a steal of a deal special.  Or you can buy a HUD Home.

What immediately comes to mind when you think of a HUD home? Most would answer that these homes are not in move in condition that they are inexpensive etc. That is sometimes the case but there are also many HUD homes in great move in condition and what’s even better, you can buy them with just a $100 down payment. Also, HUD has a fix for the properties that require work.  FHA has a loan program that allows you to borrow funds to repair your home as part of your loan, up to $30,000.  So if you see a steal of a HUD home deal, which requires new carpeting, paint, etc., you can borrow the repair money, and still only put down $100 as your down payment.

There are tons of gorgeous HUD Homes for sale.  Just check out a sampling of homes below:

Does that mean you’ll need down payment assistance to get this home with $100 down payment? Absolutely not. HUD’s $100 down program means just that….$100 down, with no down payment loans to pay back, zip, zilch, nada! And it doesn’t matter what price.  It could be a home for $50,000 or a home for $250,000, the down payment is still just $100.  So what’s the catch?

1. You must purchase the home as your primary residence.  That rules out all investors.  You have to plan to live there for at least a year.
2. You cannot currently own another home.
3. You must purchase the home using an FHA loan.  which means you’ll have to qualify for an FHA loan.  So if you don’t already know that, find out if you qualify for an FHA loan by clicking here

Now you must have an agent to place an offer for a HUD Home, so if this is something you want to do, call us.  We would love to help.  Want to find out more?  Click here for Frequently Asked Questions about HUD’s $100 down program

Here are a few options that can help:

FORBEARANCE

A Forbearance is when your bank allows you to resume payments of your mortgage, without immediately paying the total past due amounts owed, but your new mortgage payment may have a portion of the arrears added to it. It does mean your new payment may be higher than your original mortgage, but it sometimes puts you in a position to get out of the hole. This doesn’t always come cheap, though. Your bank may still charge you late fees, etc while you are paying the arrears and mortgage payment during this period. This plan works best for someone that can pay the higher amount for a time. An example of this can be someone that lost a job, got behind, found another job that pays the same income or more income than the previous job. It is not the best scenario for someone who’s household income is lower than before. You can struggle along and try, but it will not be fun. Your other bills will suffer, and ultimately so will your credit.

MODIFICATION

A Modification is when your bank modifies the terms of your loan from the original terms. The terms can vary from a) lowered rates; b) extended payment periods (say from 30 years to 40 years); etc. A modification is usually successfully approved when the homeowner can show an ability to pay, that the hardship has passed, and so on. Modifications are a long process, requires documentation of income and expenses, and are not always successful.

DEED-IN-LIEU

A Deed-In-Lieu of Foreclosure allows a homeowner to contact their bank and request an approval to basically “give back your home” to the bank without going through an actual foreclosure sale. But many homeowners are suprised when they have to submit income/expense documentation to get an approval from their bank to do this. The approval is based on almost the same documentation as a short sale. You have to show the bank, through your documentation, that you are really unable to continue to afford your home. Many a time homeowners are suprised when their lender denies them for a Deed-In-Lieu, and that can happen.

SHORT SALE

A Short Sales allows the sale of your house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the home owner can no longer make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what is owed, thereby walking away from a stressful situation.

Short sales are a viable option to avoiding a foreclosure and is usually the last option when a modification is unsuccessfull. Many homeowners are now considering a short sale as an alternative to foreclosure. If you are at the point where you have decided you no longer want to keep your home and you are upside down on your mortgage (unable to sell your home for enough funds to pay off the balance of your mortgage plus real estate fees and/or closing costs, etc.) or; if you are behind on your mortgage and would like to avoid a foreclosure then a short sale is a viable option. Keep in mind however, that a short sale can be a lengthy process, not because it takes a lot of time but because for some banks, there is a huge volume of requests for short sales and also a huge volume of foreclosures that banks are dealing with in this current real estate climate.

Banks will not consider, deny or approve a short sale without a contract on your home, so you will want to hire a good agent with Short Sale experience to help you through this process. There are specific documents the banks will need and a good experienced short sale agent can help you navigate through this process. Our company agents specialize in handling short sales and foreclosures. Call our office if you have any questions about a short sale or if you would like us to help you with the process.

These are just some of the options available to you, for a more complete guide on avoiding foreclosure, give us a call today.

In general terms, it is a buyers market in Georgia, but when you get price specific; say in the low $100,000s, or area specific; say Alpharetta, a foreclosure or short sale in good condition usually stays on the market for all of …. a day! As a buyer, you’ll need help to navigate those areas that are not really a buyers market, and prepare yourself so you can get the best results and actually get the home of your dreams.

What’s the best way for you to be successful? Don’t go it alone. Yes, you can find many houses on the web, and your search should start there so you have an idea of where exactly you want to live, but beyond that you should find a realtor, and that’s where Classic Homes Realty of Atlanta comes in. We have buyer’s agents that work for you to help you find the best deal, at the right price, and quickly so your offer is successful.

Don’t try to navigate this land mine of a market alone, give us a call to day, we can make your home search an easy and pleasant one.

Classic Homes Realty of Atlanta
770-685-6968

In the stairwell of this home is a window that lets in a tremendous amount of light, and on the 2nd floor are 4 large bedrooms including the master suite. The master suite comes complete with a sitting area, large walk in closet, and a master bath with separate tub and shower.

This is a great home for the price, barely 5 years old and would be a great fit for a 1st time homebuyer or empty nesters.

This gorgeous corner lot unit can be a great home and it’s looking for the right family.  With just under 3000 square feet of living space, this large formal living and dining rooms greet you to the left of the long extended hardwood foyer.  To the right rear of the foyer is the extremely large sunken family room.  This family room includes a ceiling fan, cozy fireplace, and even has a built in niche for any TV, flat screen or traditional.  Flanking either side of the fireplace is built in niches for videos, equipment, family photos, collectibles, what ever your decorative heart desires.  The family room has a view into the kitchen and the kitchen features hardwood floors, granite counter tops, tile back splash, a nice little window over the kitchen sink, large pantry, and the sale will include the dishwasher, built in microwave and stove.

Upstairs the large master suite has french entrance doors, the private bath features a separate tub and shower, and large walk in closets.  The secondary bedrooms are all large, cable ready and ready for a family to enjoy.

The location of this community  is so convenient, it is located on Parkside Rd, which feels quiet and off the cut, but is just a short drive to Highway 78 or 124 which has tons of shopping, restaurants, and entertainment.  This home is very  competitively priced.  Please email us at info at chratlanta.com for a showing appointment or for answers to any of your questions about this property.

Schools
centerville Elementary
Shiloh Middle
Shiloh High