Renaissance Realty Group’s Blog: Georgia: Lawrenceville

BANK OWNED FORECLOSURES    03-27-10

Bold Springs Rd., Monroe, Georgia

4 BR 3+BA Brick Ranch on over 11 acre horse farm.  

Home is in great condition with oversized rooms, hardwood flooring, family room, keeping room, dining room, playroom, and office.  The kitchen is very spacious with a large breakfast area, center work/cook island, LOTS of beautiful cabinetry, and elegant granite counters.  In addition to the beautiful home, this property includes an Carriage House with multi-bonus rooms, two half baths, elevator, and kitchenette.  There's also a 10 stall horse barn.

For more information, pricing and photos:    www.GeorgiaOnlineHomes.com/3040BoldSprings.asp

Simonton Crest, Lawrenceville, Georgia

5 BR 3.5 BA Traditional Home Blt in 2005

Huge floorplan includes formal living and dining rooms, family room w/ fireplace, large master suite and 4 generously sized guest rooms.  Kitchen has walnut cabinets, pantry, center work station, and sunny breakfast area.  Nice condition and located in great neighborhood.

For more information, pricing and photos:  www.GeorgiaOnlineHomes.com/440SimontonCrest.asp

Ponce de Leon, Atlanta, GA

1 BR 1 BA Condo in highly desirable Virginia Highlands area.

Gleaming hardwood floors.  Fully equipped kitchen.  Walk to shopping, clubs, unique shops and restaurants.  Quiet street but convenient to everything.

For more information, pricing and photos:  www.GeorgiaOnlineHomes.com/785Ponce.asp

Haynes Club Dr., Grayson, GA

4 BR 2.5 BA in Swim/Tennis Community

Nice home in swim/tennis community.  Offers 2.385 sq ft of living with Formal Living and Dining, family room w/ fireplace, spacious kitchen.  Needs carpet, appliances and minor fixes.  Sold AS IS but a great deal.

For more information, pricing and photos:  www.GeorgiaOnlineHomes.com/2615haynes.asp

Warren St., Atlanta, GA

3 BR 2.5 BA in Kirkwood area.  Move in Ready!

Craftsman style home in great condition.  Hardwood flooring on main level.  Open kitchen w/ high quality wood cabinets and granite counters.  Master suite w/ jetted tub.  Front and back porches.  Fenced yard. Garage in back.   Minor cosmetics needed but otherwise move in ready.

For more information, pricing and photos:  www.GeorgiaOnlineHomes.com/178Warren.asp 

Dogwood Drive, Lawrenceville, GA

4BR 2.5BA  w/ .56 Acre Lot.  JUST REDUCED for quick sale.

Very nice location and in near move in condition.  Floating wood floors on main level.  Huge family room w/ fireplace. Sunny kitchen with breakfast area.  Formal dining room.  Laundry room off kitchen.  Fenced backyard.

For more information, pricing, and photos:  www.GeorgiaOnlineHomes.com/668Dogwood.asp

Brooks Dr. Dacula, GA

4 BR 3BA Ranch on 11.88 acres.  Includes private lake!

Ranch style home with fully daylight basement, 4 bedrooms, 2 baths, family/great room,  combination living/dining room, and wrap around porch.  11.88 acres of land includes a private lake and a separate auto workshop with parking area.  Home offers large kitchen with lots of wood cabinets.  Home was stripped of copper pipes and HVAC compressors.  Structure offers good bones and floor plan.  Lots of potential here at an incredible price.  

For more information, pricing, and photos:  www.GeorgiaOnlineHomes.com/1902Brooks.asp

Paden Cove Trail,  Lawrenceville, GA

2 BR 2.5BA Townhome  Only $68,900

Nice condition and good location close to Pleasant Hill Rd and Hwy 29.  All appliances remain.  Ridiculous low price  Needs minor cosmetics, but otherwise move in ready.

For more information, pricing, and photos:  www.GeorgiaOnlineHomes.com/342Paden.asp

Dorchester Drive, Lawrenceville, GA

4 BR 2.5 BA Traditional Georgian Style. Crazy Price of only $119K!!!

Traditional Georgian style home in quiet well established neighborhood. Brick front with fenced backyard, 1/4 acre lot, large back deck, 2-car garage.  Formal living and dining, family room w/ fireplace, generously sized kitchen.  Home is priced to basically give away and at this price is .  SOLD AS IS ONLY.

For more information, pricing, and photos:  www.GeorgiaOnlineHomes.com/1441dorchester.asp

iNFORMATION PROVIEDED BY
By Jeff Lischer

Initially announced on May 14, 2009 , with guidance and standard forms issued on November 30, 2009, the program will help owners (referred to below as borrowers) who are unable to retain their home under the Home Affordable Modification Program (HAMP). A borrower (the current owner) may be able to avoid a foreclosure by completing a short sale or a deed-in-lieu of foreclosure (DIL) under HAFA. The guidance and forms released on November 30 do not apply to loans owned or guaranteed by Fannie Mae or Freddie Mac. Those enterprises will issue their own HAFA guidance and forms.

What is HAFA?

 Who is eligible for HAFA?
The borrower must meet the basic eligibility criteria for HAMP:

· Principal residence.

· First lien originated before 2009.

· Mortgage delinquent or default is reasonably foreseeable.

· Unpaid principal balance no more than $729,750 (higher limits for 2 to 4 unit dwellings).

• Borrower's total monthly payment exceeds 31% of gross income

Home Affordable Foreclosure Alternatives Program (HAFA), which will help homeowners who are unable to retain their home under the Home Affordable Modification Program (HAMP). Under HAFA, a borrower (the current owner) may be able to avoid foreclosure by completing a short sale or a deed-in-lieu of foreclosure (DIL).

HAFA is designed to simplify and streamline the use of short sales and deeds-in-lieu of foreclosure by improving the process. Specifically, HAFA will:

HAFA - WHAT DOES IT MEAN AND WHY DO i CARE ?

Home Affordable Foreclosure Alternatives Program (HAFA)

HAFA is a complex program, with 43 pages of guidelines and forms, designed to simplify and streamline use of short sales and deeds-in-lieu of foreclosure. HAFA is part of the Home Affordable Modification Program (HAMP), providing incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program.

These guidelines go into effect April 2010!

MBA - mortgage applications down

The Mortgage Bankers Association (MBA) said rates on 30-year fixed-rate mortgages, the most widely used loan, fell below 5 percent for the first time since the week ended Dec. 18, but U.S. mortgage applications dipped last week.  The MBA's Weekly Mortgage Applications Survey for the week ending February 5 decreased 1.2 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 0.6 percent compared with the previous week.  The Refinance Index increased 1.4 percent from the previous week and the seasonally adjusted Purchase Index decreased 7.0 percent from one week earlier.  The unadjusted Purchase Index decreased 1.1 percent compared with the previous week and was 7.5 percent lower than the same week one year ago.  The four week moving average for the seasonally adjusted Market Index is up 3.8 percent.  The four week moving average is up 0.8 percent for the seasonally adjusted Purchase Index, while this average is up 4.8 percent  for the Refinance Index.  The refinance share of mortgage activity increased to 69.7 percent of total applications from 69.2 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 4.5 percent of total applications from the previous week.

Home prices in January increased 2.3%, marking the first year-over-year increase in more than three years, according to the Home Data Index (HDI) from Clear Capital, the real estate data provider. In all, prices gained 1.8% on the rolling-quarterly scale into January.  All regions but the Northeast, which posted a 1% drop, saw increases over the previous three months. Prices in the Midwest increased 5%. The South had a 1.5% rise in prices, and the West had a 1.3% increase.  Alex Villacorta, senior statistician at Clear Capital, said that the year-over-year price gain is good to see despite near record high real-estate owned (REO) saturation rates. That rate declined 0.7 percentage points to 24.8% in January, but, according to the report, regions with the highest level of REO have had steeper recoveries.  "Recovery of home prices has generally been more notable in the regions with the highest level of REO saturation," according to the report.  The trend is most apparent wi  th higher levels of REO saturation seen in the West, 35.4%, and the Midwest, 28.4%.  "The sustainability of current price gains will be challenged in 2010, given that most lenders and analysts predict a significantly larger number of REOs will reach the markets. Further, this suggests that as the dynamics of supply and demand evolve, different markets will have varied responses to increased REO activity," Villacorta said.