Renaissance Realty Group’s Blog: Georgia: Duluth

Multiple Bank Owned Foreclosures, Short Sales & Pre Foreclosure Homes. Great Condition. Great Prices!!!!

Bank Owned Foreclosures:

2 Bed 2.5 Bath Townhome, Norcross GA                $104,900

Click to See Photos, Map, & Details

Located convenient to Jimmy Carter Blvd. and Lawrenceville Highway.  2 Bed 2.5 Bath Townhome.  Beautiful neighborhood.  Move In Ready!!!  Call 770-277-6652 for details.

  

4 Bed 2.5 Bath 4-Sided Brick in Loganville, GA                 REDUCED: $189,500          

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-4 SIDED BRICK!!! Large Master w/ jetted garden tub.  Security System.  Kitchen: granite counter tops, beautiful cabinetry, center island, hardwood flooring.  Home is move in ready.  Built in 2005.

  

4 Bed 2.5 Bath in Stone Mountain, GA                    $119,000

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-Spacious home on large private, level lot.  Built 1998.  Big kitchen w/ breakfast area.  Very private location but convenient to I-285 and hwy 78.  Needs some repairs and may qualify for the Wells Fargo renovation loan.

  

3 Bed 2.5 Bath in Lawrenceville, GA                       $106,750

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-Convenient to Sugarloaf and Hwy 29.  Spacious open floor plan w/ beautiful kitchen.  Large master suite w/ garden tub, separate shower, walk-in closet.  Home is much larger than it appears!

  

3 Bedroom Ranch in Stone Mountain, GA               REDUCED $55,000

Click to See Photos, Map, & Details

-This is an incredible steal.  3 bedroom 2 bath ranch with daylight basement.  Large fenced backyard with huge party deck.  Home needs carpet and some repairs, but this is a "must see" opportunity and priced thousands below neighborhood.

  

4 Bed Ranch in Berkley Lake / Duluth, GA            $189,900        

Click to See Photos, Map, & Details

-Great location in the prestigious Berkley Lake area.  4 bedroom 3 bath ranch w/ finished, daylight basement.  Fenced backyard with in-ground pool, back deck, patio, and hot tub.

  

Short Sale & Pre-Foreclosure Bargains

  

Midtown Location w/ In Ground Pool           $559,500

Click to See Photos, Map, & Details

-Great midtown location.  Walking distance to night spots.  Recently remodeled, this beautiful brick ranch is a hidden jewel w/ incredible upgrades throughout and a private backyard resort w/ palladium, in-ground pool, and luxurious hot tub!

  

Oconee Lake Golf Resort Condo                 $284,500

Click to See Photos, Map, & Details

-Luxury details inside and out.  Private golf and tennis community.  Home has large floorplan w/ gourmet style kitchen that includes stainless appliances and granite counter tops.  Two bedrooms both with private baths.  Priced 10,000's below bank payoff.

  

Contemporary 3-Level in Downtown Atlanta     $749,000

Click to See Photos, Map, & Details

-Condo conversion in warehouse district.  Very trendy area is zoned C4 with a mix of luxury residences, art galleries, and offices.  Currently used as a luxury home, this could easily be a recording studio, art gallery, professional office, or exclusive boutique.

  

Lenox Road Condo                                                    $132,890

Click to See Photos, Map, & Details

- Beautiful condo in gated Buckhead community.  Granite counter tops and stainless appliances in kitchen.  2-bed and 2-baths.  Currently used as rental investment, renters will relocate or renew as needed.  Great investment opportunity or would be great as a primary home. 

   

** IMPORTANT NOTICES**

*If you have a buyer brokerage agreement, your agent/broker must schedule and be present at the initial showing in order to receive a selling commission.   Unrepresented buyers must sign an acknowledgement stating they are not under a buyer's brokerage agreement and will present any offer to purchase directly through Renaissance Realty Group, Inc. 

RENAISSANCE REALTY GROUP, INC

WWW.GeorgiaOnlineHomes.COM

770-277-6652

 

Understanding Conventional Mortgages-For conventional mortgages (those which may be purchased from local lenders by national organizations such as Fannie Mae and Freddie Mac, the loan limits for owner-occupied properties are:

One-Unit (single family) -$417,000
Duplex - $533,850
Triplex - $645,300
Quad (fourplex) - $801,950

For properties in Alaska, Hawaii, Guam, and the U.S. Virgin Islands, the loan limits are 50 percent higher.

One-Unit -$625,500
Duplex - $800,775
Triplex - $967,950
Quad - $1,202,925

Also, beginning in 2009 there are now loan limits for so-called "higher cost" areas. These selected areas are located in California, Colorado, Connecticut, The District of Columbia, Florida, Georgia, Hawaii, Idaho, Massachusetts, Maryland, North Carolina, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Utah and Virginia. For a list of specific areas and loan limits, please press here and also be certain to speak with local lenders.

Step 1: Finding the Right Foreclosure

Choosing the right foreclosure is about starting with a big scope picture of the market and then narrowing down your options, and that starts by understanding your goals is this purchase and investment? a Buy and Hold? or a Buy Fix Rent? or Buy Fix Occupy then Sell? once you know your goals, then you need to develop a can start to target properties by town, city, county or even zip code, school system, price, rehab costs, bedrooms and baths.

As an experienced agent in this Georgia Foreclosure market I can't tell you how many times a day I get a call with the other party saying "I want to by a Foreclosure.. can you help me " ... and the other party has not even determined they what they will do with the property once they get it.. the old dog chasing a car joke.  Yes Foreclosures in Georgia are a GREAT Opportunity. If they fit your current and long term goals.

Working with an experienced agent you'll be able to view listings for all kinds of different foreclosure sales, including pre-foreclosures, auctions, foreclosures and bankruptcies, which fit you big goal.

We may starting at a broad level and narrowing down the details from there will make it easier to find the specific types of properties that you want to buy we may only tour 5 or 10 but remember I have probably looked at over 100 to get you the top of the top that meet your defined goal and if you are changes that target or unclear about you real goal, we could miss a great opportunity. So communication is key remember I work for you... first foremost and always.

So if Buying a Georgia Foreclosure is on your mind lets sit down define your goals and get started.

 IS NOW A GOOD TIME TO SELL

I am asked over and over, "Is it a good time to sell?"" what's happening in my neighborhood to home values" in The answer is a complicated one; not as confusing as why did elephant bell bottoms make a comeback, but non the less complex. The truth is buyers buy out of want and need sellers should be selling out of need. Sellers now is not the time for a cash out and run approach the numbers show that over time homeownership is a good investment and that what we are seeing is a small % percentage of homes selling "cheap" as a result of foreclosures and short sales and that once the "foreclosure / short sale" inventor clears out home prices will stabilize and begin to return to normal levels. So Sellers do not head for the exit just because some yelled fire and get trampled in the rush, stop look around and evaluate the situation for what fits you and your families needs in the now and act accordingly.

 

GREAT NOVEMBER HOLIDAYS ---- by the day

1 All Saint's Day

1 Book Lovers Day - first Saturday of the month

2 All Soul's Day

2 Look for Circles Day

2 Deviled Egg Day

3 Housewife's Day

3 Sandwich Day

4 King Tut Day

5 Gunpowder Day

5 Guy Fawkes Day

6 Marooned without a Compass Day

6 Saxophone Day

7 Bittersweet Chocolate with Almonds Day

8 Cook Something Bold Day

8 Dunce Day

9 Chaos Never Dies Day - you've got that right

10 Forget-Me-Not Day

10 USMC Day

11 Veteran's Day

12 Chicken Soup for the Soul Day

13 National Indian Pudding Day

13 Sadie Hawkins Day

13 World Kindness Day

14 Operating Room Nurse Day

14 Young Readers Day

15 Clean Your Refrigerator Day

15 America Recycles Day

15 National Philanthropy Day

16 Button Day

16 Have a Party With Your Bear Day

17 Electronic Greeting Card Day

17 Homemade Bread Day

17 Take A Hike Day

17 World Peace Day

18 Occult Day

19 Have a Bad Day Day

20 Absurdity Day

20 Beautiful Day

20 Great American Smokeout  - third Thursday in November

20 Universal Children's Day

21 False Confession Day

21 World Hello Day

22 Go For a Ride Day

22 National Adoption Day - Saturday before Thanksgiving

23 Eat a Cranberry Day

23 National Cashew Day

24

25 National Parfait Day  

26 Shopping Reminder Day

27 Pins and Needles Day

27 Thanksgiving Day

28 Black Friday

28 Buy Nothing Day - always the day after Thanksgiving...does anyone abide by it!?!

28 Make Your Own Head Day

28 Red Planet Day

28 You're Welcome Day - the day after Thanksgiving

29 Electronic Greetings Day- now who do you think created this day!?

29 Square Dance Day

30 Stay At Home Because You Are Well Day

If you are facing a Georgia Foreclosure, you are not alone. The number of foreclosures in Georgia is currently one of the highest in the nation. Of course, there are many reasons why a homeowner may no longer be able to make payments on their mortgage, whether it be the loss of a job, unexpected medical bills, or myriad other factors. If you find yourself behind on your mortgage payments and facing a Georgia Foreclosure, it is important to seek the help. Renaissance Realty Group has partnered with Persily & Associates to help you with all your Foreclosure Abatement needs. Time is not on your side when it comes to Foreclosure so contact us today, we are here to help, we will talk with you, explain Georgia Foreclosure Law, and help you work your way out of debt with minimal damage to your financial health or your credit report.

Eric Reid

Managing Broker, Renaissance Realty Group

RDCPro / REO Certified

Home Loss Prevention Certified

Short Sale Certified

Office (770) 277-6652 Fax    (770) 513-4443  

Looking For A New Home, Then Look To www.GeorgiaOnlineHomes.Com

 How a Foreclosure Begins

A foreclosure is a property that is repossessed or put up for sale by a lender as a result of a homeowner's default on their mortgage loan. Generally, the process begins when the lender issues a Notice of Default informing the local authorities and the homeowner of their intention to seek a foreclosure. Once the Notice of Default is issued, there are several possible outcomes of the foreclosure process:

1. The homeowner will have a certain amount of time before a sale occurs, known as the pre-foreclosure period, in which to pay off their default debt. This will allow them to reinstate their loan and maintain control of their property.
2. The homeowner may also find a buyer for their property during the pre-foreclosure period. This allows them to pay off their debt and avoid having a credit-ruining foreclosure on their record.
3. If the pre-foreclosure period goes by uneventfully, the home can be sold at a public auction scheduled in advance.
4. The lender may be able to take control of the property and sell it themselves in order to recover their losses. This usually occurs when a lender works out a deal with the homeowner after the initial foreclosure, if the property does not get a high enough bid at auction, or if the lender themselves bids at the auction.

Why should I Short Sale Instead of Just Walk Away?

A Short Sale enables you to:

Prevent a Foreclosure on Your Credit

Prevent a Bankruptcy

Set Yourself Free from the Financial Burden of a Mortgage You Cannot Afford

Experienced negotiators talk to your lenders and convince them to forego the expensive foreclosure process and accept an offer of cash. A good negotiator can show the bank why your home will be declining in value every day they hold it, and how, if your home is vacant, or becomes the object of vandals, it will cost them more cash out of pocket than to settle for a short sale.

A good loss mitigation negotiator show them point by point that, even if there is negative equity in your home, they are better off accepting a short sale than foreclosing on your home. You will be glad you did. A short sale is infinitely better for your credit than a foreclosure and bankruptcy.

GEORGIA FORECLOSURE DAILY REPORT

Foreclosure Homes / Short Sale Homes List

Updated Oct 13th 2008

Fulton, North Fulton, DeKalb, County Georgia.

Cities of Decatur, Tucker, Stone Mountain, Lithonia, Duluth, Buford, Lawrenceville, Dacula, Grayson, Snellville, Loganville, Suwanee, Norcross, Winder,

This list is updated daily with Homes added to MLS in the last 24 hours

Due to the nature of Foreclosure Homes and Short Sale Home,

Buyers should act quickly !

For all Your Real Estate Needs Call !

Eric Reid, Managing Broker Renaissance Realty Group Inc.
Office: 404-921-2067 x 102 Fax: 770-513-4443

 Short Sale list click here

Foreclosure list click here

Can I buy a house even though I declared bankruptcy?

Believe it or not, there is financial life after bankruptcy. It will take some effort on your part, but you can rebuild your credit with careful budgeting and record keeping.

A bankruptcy is a red flag that makes lenders leery, and it will stay on your credit report for 10 years. If you have a history of bad credit (e.g., a bankruptcy and numerous late payments) and don't take steps to repair it, most lenders won't take on the risk of giving you credit. If you find a lender willing to give you credit, you can expect a high interest rate (e.g., twice the going market rate). However, if you work to improve your credit rating by obtaining a line of credit and making all of your payments on time, for example, you may be able to obtain the financing you need to buy a home.

Remember that lenders want to see good credit histories. Therefore, it's important to begin establishing good credit as soon as possible. Many people believe that the way to fix a bad credit problem is to pay for everything in cash. Although this is a good way to get out of debt and control your spending, it won't help you get a mortgage. When you pay cash, you're not establishing credit. Thus, lenders have no way of gauging whether you're a good or bad credit risk.

Consider beginning your journey back to creditworthiness by obtaining a low-interest credit card. Be sure to make your payments on time, every month. If you can't get a traditional credit card, ask about a secured credit card that operates much like an ATM debit card. Here, your credit limit is based on the amount you deposit in your account. For example, if you deposit $500 in the account, you'll have a credit limit of $500. If high credit limits are what landed you in your current financial troubles, a secured card can help you stay on track by keeping you on a short leash. In a short time, you may be able to prove to lenders that you're creditworthy.