Buyer Beware: Caveats of REAL ESTATE AUCTIONS

You hear about a great home being offered at a real estate auction for a fraction of what it should sale for.  This must be a great opportunity, right? Not necessarily.  You may remember seeing sitcoms where someone at an auction accidentally coughs, scratches his head, etc. and then ends up purchasing the auction item at a price they did not want.  Then the rest of the TV show we see them scrabbling to get out of the purchase.  Similarly, with real estate auctions, a Buyer can unknowingly sign-up for a purchase they are not prepared to make.  Thus, it is extremely important for Buyers to understand all the terms of that particular auction house before bidding as the process can be significantly different than a typical purchase from a homeowner.

“Is This A Good Real Estate Deal?”

In this real estate market, there seems to be no end to low-priced homes, whether foreclosures, REOs, short sales, owner financed, etc., but how do you know if it truly is a good deal?  I can see many purchasers salivating over the low prices in this real estate market but don’t pack up and move just yet.  Avoid getting caught in the hype of something being low-priced.  Here are several strategic factors beyond price to consider to help insure your real estate purchase will be a sound investment.

1. Location

Places To Love: SERRANO CONDOMINIUMS

After much anticipation, Metro Atlanta’s Serrano condos have finally made their grand opening debut.  Deemed as Sandy Springs’ Mediterranean-inspired homes, the Serrano offers condo lovers 13 exquisite floorplans, gated, covered parking with private resident floor access, and amenities galore all at a discounted price.  Conveniently located in the heart of Sandy Springs, GA off Abernathy Rd. 1 block west of GA 400, the Serrano offers you convenience and quick access to Perimeter Mall, Buckhead, Downtown Atlanta, Alpharetta, I-285, GA 400, and I-75, which is a must in Atlanta’s heavy traffic.  (The key in Atlanta’s traffic is to learn the back roads, which from the Serrano you can get downtown, north, east or west without getting on a freeway – having been in Atlanta’s traffic, you know this is a miracle!)

Becoming a Savvy Real Estate Investor in Today’s Market

With the record-low pricing that still exists in many regions of the country, you may be contemplating investing in real estate.  But how do you invest shrewdly in this real estate market?  Real estate entrepreneur Ryan Moeller offers these four tips for anyone considering a consumer real estate investment:

1. Don’t count on appreciation.  Appreciation is a bonus.

2. Watch the loan-to-value ratio. Ideally, the total cost of the purchase, fees, and repairs should be no more than 70 percent of the appraised value of property in good condition.

OWNER FINANCING: Tips On How to Make It Work

Whether you are a Buyer with less than perfect credit, a Buyer with not enough down-payment funds or just a Seller eager to sell, owner-financing maybe a viable option.  Banks generally are willing to accept rent credits for an option to buy as an acceptable down payment, but both buyers and sellers must follow these guidelines for Fannie Mae and Freddie Mac to sanction the transaction.

The rental amount must be determined by a property appraisal with the credit for the down payment clearly calculated as the difference between market rent and actual rent paid for 12 months. For instance, if market rent is $1,000 and rent paid is $1,200, $200 could be credited monthly toward the down payment.

Places To Love: THE VIEW AT CHASTAIN

Looking for a luxury high-rise community in Metro Atlanta with discounted prices just minutes from all the shops and restaurants of Buckhead?  Then The View at Chastain is a must see. 

Conveniently situated in Sandy Springs on Roswell Rd. near Piedmont, The View at Chastain condominium features upscale units at below construction costs.  These units feature both multi-level/townhouse-styled floorplans and apartment-style floorplans.  At The View at Chastain, you will love the trendy loft living, spacious 12-ft ceilings, sparkling hardwood floors, the stylish Quartz countertops, the efficient Bosch stainless steel appliances, the 24-hour onside management, the roomy clubroom, and the state of the art fitness area and swimming pool.  Best of all you will love the breath-taking views of Atlanta.

Places to Love: City Walk Heights

It you have been looking for a great deal in the Metro Atlanta real estate market, you will find one at Sandy Springs’ City Walk Heights townhomes.  Situated conveniently behind Sandy Springs’ City Walk Shopping Complex and a across from Heritage Green, City Walk Heights features townhomes that have high-end finishes for a fraction of the cost.  These brick, 3-story townhouses have gated parking, an outdoor waterfall/park area, and are in walking distance to all of the shops on Roswell Rd., Hammond Dr., and Johnson Ferry Rd.

How To Get Money For Your Mortgage If You Lose Your Job

There is something that has been around for years that is seeing more popularity in these times that can help you pay your mortgage if you were to loss your job or possibly even become disabled.   Job-loss mortgage insurance (or unemployment mortgage insurance) is an option that homebuyers can request when purchasing real estate and really sellers should offer.  There are different terms and costs associated with this insurance depending on the company offering it but in general the fee is small but can give Buyers added peace of mind in their real estate transactions.  Job-loss mortgage insurance is great especially when Buyers deplete their savings making the downpayment on a home purchase.

Stop Foreclosure!

The American Dream should not become a nightmare.  But with the ups and downs of the economy, what is a homeowner to do?  Whether you or someone you know is in danger of losing your home, American Homeowner Preservation (AHP) maybe able to help.  AHP has options, such as short sales, lease & repurchase programs, available that may help you pay less a month and even keep your home. 

Click here to watch a short video of one homeowner’s success story with AHP: AHP News Success Story 

Interested in investing in real estate?  If so, you can help the families of AHP – visit https://www.ahphelp.com/signup_investor.php for more details.

PLACES TO LOVE: Tiller Walk Estates

Are you looking for classic European Architecture in the south’s foremost metropolitan area, Atlanta?  Whether you are searching for a French Chateau, Italian Palazzo, Swiss Alpine Villa, or New England Estate, Tiller Walk will satisfy and supersede your dwelling needs.  TIller Walk, located in one of the finest areas of Sandy Springs and just minutes from downtown Atlanta, is a controlled community comprised of 57 new construction homes. beginning in the low $2 Million range.   Several of Tiller Walk’s homes have won the prestigious OBIE award for best homes in Atlanta, including what you may have heard referred to as The Castle of Sandy Springs, which is Lot 17 that features a true depiction of a French Chateau.

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