Do you want to move to Cobb County, GA?

Do you already live in Cobb County, Georgia? Do you want to own your own home?

from CobbLine Weekly Newsletter...

Home buying opportunities available with new program

The Neighborhood Stabilization Program will provide emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. Cobb County will receive approximately $6.9 million from Housing and Urban Development and $1.7 million from the Georgia Department of Community Affairs to rehabilitate, resell or redevelop foreclosed residential real estate in the county's areas of greatest need. The goal is to stabilize neighborhoods and stem the decline of home values. Homebuyers may qualify for this program if they meet certain income criteria. For instance, a family of four can have an income of $85,450 and be eligible to participate. For additional information, please contact the program office at 770-528-7980 or visit buycobb.com

You can also contact me for information on living and buying a home in Cobb County - broderick@kellerknapp.com. You'll be surprised at the opportunities available!

Emerging Market Trend - New Condo Auctions

Real estate auctions for brand new, never lived in condos in Atlanta are a very promising opportunity for both investors and home buyers looking for a good deal. In the past couple of weeks there has been a lot of buzz around upcoming condo auctions here in Atlanta. The general idea of a condo auction is to allow a growing list of developers who use auctions to move multiple units in a matter of hours.

But buyers looking for a deal may not need to wait for an auction to find one, he said. Prices of intown condos are often slashed before the builder even thinks about going to auction.

Mark your calendars and let's plan to check out these upcoming auctions together:

Aqua - May 16

Cosmopolitan - May 17

As is typical for auctions of higher-end developments, the Aqua sale will be at the swanky W Hotel. Prospective buyers can sign up at a Web site for advance information. They can also see units on the block during a preview period in the weeks before the auction.

Bids at condo auctions often start one-third below the original listing price. At the Aqua auction, for instance, bidding for a one-bedroom, one-bath unit in the “Azure” floor plan starts at $179,000, vs. the last listing price of $389,900. Bids on a larger “Sapphire” unit start at $299,000, down from $759,900.

Because Atlanta has so many unsold units, the auction action is
drawing enterprising business people.

www.ajc.com

Thinking about buying a new home?

Are falling prices encouraging you to think about buying a home? According to a recent article in the NY Times, the opportunity for finding a great deal on a home can become your reality. There are lots of options on the market today including foreclosures and homes in pre-foreclosure (short sale opportunities) in great neighborhoods. Your realtor (hopefully that's me) can assist you with locating properties that meet your budget and lifestyle objectives.

Here's a few tips on information you'll want to have ready to begin the home-buying process:

- Obtain a copy of your credit report from all three of the major reporting agencies so that you know where you stand. It will make the process go a lot smoother if you are pre-qualified by a mortgage lender before you start looking for a home. You'll have a better idea of your budget so that your realtor will know what price range to research for you.

- Think about and identify your "must haves" vs. your "would like to haves" for your new home. What is most important to you, being close to downtown Atlanta, better schools, large back yard or close to your job?

- Review other industry websites for additional home buying tips to add to the conversation with your realtor


Do you have questions? Are you ready to have a conversation with a realtor about buying a new home? It's a buyers' market out there and it doesn't cost the buyer anything to engage a realtor to act as their home buying advocate. Contact me today @ 678-862-3100 or broderick@KellerKnapp.com

Foreclosure Rescue Scams - Beware!

Lately, there has been a lot of news coverage related to the foreclosure crisis in our country and the scam artists who are taking advantage of good people who are trying to save their homes from foreclosure. The bottom line is do not pay for a rescue service!

Check out this new government webite: Making Homes Affordable to learn more about your options as a home owner.

The Obama Administration has introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis and get our economy back on track. A critical piece of that effort is Making Home Affordable, a plan to stabilize our housing market and help up to 7 to 9 million Americans reduce their monthly mortgage payments to more affordable levels.

The Home Affordable Refinance Program gives up to 4 to 5 million homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance into more affordable monthly payments. The Home Affordable Modification Program commits $75 billion to keep up to 3 to 4 million Americans in their homes by preventing avoidable foreclosures.

Our consumer website, www.MakingHomeAffordable.gov, provides homeowners with detailed information about these programs along with self-assessment tools and calculators to empower borrowers with the resources they need to determine whether they might be eligible for a modification or a refinance under the Administration's program. Through this website, borrowers can also connect with free counseling resources to help with outstanding questions; locate homeowner events in their communities; find a handy checklist of key documents and materials to have ready when making that important call to their servicer as well as FAQs from borrowers in similar circumstances; and much more.

Thinking about buying a new home?

And by "new" I mean "new to you" .... Now's a great time to consider buying a HUD home ... there are a lot of really good deals available in metro Atlanta.

The U.S. Department of Housing and Urban Development

The HomeSales.gov web site provides current information about single family homes for sale by the U.S. Federal Government. These previously owned homes are for sale by public auction or other method depending on the property. Anyone can buy a home for sale by the U.S. Government, but you must work with a real estate agent, broker or servicing representative to submit an offer or bid.

HUD's website also has several videos on home buying that you can watch

The internet has an overwhelming volume of new home buyer resources... here are a few that I like best:

1. Glossary of Terms - Learn the Lingo
   
2. A Dozen Ways to Get/ Find a Down Payment
3. Home buying Mistakes to Avoid
4. Not ready to buy yet, consider a Lease - Purchase
5. Federal Tax Credit Resources & Information

This video explains the new Federal Tax Credit for First Time Buyers. Let me know if you have questions. Did you know that the law defines a first-time home buyer as a buyer who has not owned a home during the past three years. If you've owned an investment property that was not your principle residence, you may still be eligible.

Looking for something to do after church next Sunday?

This weekend there is the Dogwood Festival .... and if the weather doesn't stop us, my family and I plan to check it out after church. However, the weather channel's 10-day forecast looks much better for next weekend's Taste of Marietta and we're planning to go after church on Sunday.

So if you are looking for something entertaining and fun for the whole family check out Taste of Marietta. We hope to see you there!



What else is going on next weekend? Here's a couple of other options:

1. Smyrna - Spring Jonquil Festival
2. Inman Park Festival & Tour of Homes

It's spring time in the ATL... enjoy all that our metro-area has to offer!

Salsa Saturdays @ Loca Luna

Every Saturday night (starting May 2nd) bring your dancing shoes with you to Loca Luna in Midtown Atlanta!


5/2/2009 9:00 PM at "Orquesta MaCuba Live" @ Loca Luna - 550 Amsterdam

Cost: Free

Come check out the Smooth & Agressive Sounds of "Orquesta MaCuba Live" @ Loca Luna. Bringing you the best in Salsa, Merengue, Son, Cha-Cha, Jazz, Latin Jazz and Afro-Cuban Rhythms every Saturday Night. Don’t miss out on this Live Entertainment!!!! You won’t regret it!!!

Contact me for directions or if you have questions or if you just want to let me know to expect to see you out on the dance floor!