Archive for the ‘Marietta Ga News’ Category

New homes will be smaller!

Future homes will change as Homebuilders are thinking smaller. Over 60% of the Homebuilders surveyed said they are planning to cut the size of houses they build the next few years. Experts claim the average home size in 2015 will be around 2,159 square feet. This is well below the average 2,500 square feet of 2007. Currently the average size of a home is almost 50% ahead of where they were in the 1970’s. The memory of ... (Read more)


FORECLOSURE MORATORIUM – WHY GEORGIA???

I’m totally baffled by the recent foreclosure moratorium issued for all 50 states. Georgia is a non-judicial foreclosure state. It’s not necessary in Georgia to have a legal hearing in order for a bank to foreclose on someone’s home. It would cost this state dearly if we did. All Georgia buyers sign documents when they purchase a home stating they understand how a foreclosure works in Georgia. Every closing attorney I’ve ever worked with ... (Read more)


DELIQUENT HOA FEES ARE A PROBLEM FOR ALL!

During these difficult times many homeowners aren’t paying HOA fees. No one wants to enforce other neighbors to pay past fees, but it’s essential for a community to stay on top of this. The reality is when one homeowner isn’t paying their share of the HOA the others have to pick up the slack. A bad misconception many home owners have is the HOA is a profit center for the community. It isn’t by a ... (Read more)


HOME OFFICES ARE IN HIGH DEMAND!

More than 20% of Americans do at least some of their work at home, so home offices are an attractive feature for many homebuyers. If you’re one of the more than 20% of Americans who do some or all of their work at home, a comfortable, functional home office is a must-have. And it’s a feature that’s growing in popularity: When the National Association of Home Builders asked builders, manufacturers, and marketing experts what features would be important to future ... (Read more)


FHA MAKES CHANGES IN LENDING

Lots of changes were announced this week in regards to FHA Mortgages. FHA is changing the upfront funding fee from 1.75% to 2.25%. You’ll still be allowed to add the funding fee to your mortgage. This will not affect the buyer’s monthly payments very much at all. Credit scores less than a 580 will now be require to have a minimum of 10% down, this is up from 3.5%. Not really a big change ... (Read more)


HVCC on the ropes

On Wednesday, October 21st, the National Association of Mortgage Brokers used this petition hvccpetition.com to help convince the House Financial Services Committee to pass an amendment that will finally put an end the mess that HVCC has been making of the real estate and lending industries. More than the 102,000 signatures on the petition, it was the pace at which the petition is growing and the HVCC horror stories signers included with their electronic signatures. Now more than ... (Read more)


SHORT SALES!!

Short Sales are when a lender or lenders accept the sale of a property that nets less than the payoff amount. The main three things an owner has to show is a hardship, behind in payments and a monthly P & L showing all your bills are more than what you make. A few common hardships are health, lose of job or income, relocation due to job or family illness. Naturally there can be other hardships, ... (Read more)


THINKING ABOUT SELLING YOU HOME “BY OWNER”?

The Georgia Realtor Magazine just published that of all the homes sold in 2008 only thirteen percent sold with out the assistances of an agent. Six percent of them knew the buyer prior to selling their home. Being pro-active I contact FSBO’s every day. Most are very nice people, but some must sprinkle gun powder on their cereal. I truly wish them the best! They can be tough on me in the beginning, ... (Read more)


GREAT NEWS – FHA RAISED LOAN LIMITS!

As a part of the stimulus package being signed February 19th, FHA has raised the maximum loan amount! This is effective today! If you are a borrower who may potentially now be eligible for financing and was otherwise restricted by the previous limits, now would be a good time to reconnect! Metro Atlanta's FHS limit is $346,250


HOME BUYERS TAX CREDIT GUIDELINES

In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers. First-time home buyers (anyone who hasn't owned a home in the last three years) can claim a credit worth up to $8,000 (or 10% of the home's value, whichever is less) on their 2009 taxes for a primary residence purchased January 1st, 2009 and December 1, 2009. Unlike the $7,500 credit from ... (Read more)


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