Now is Best Time To Invest in Atlanta's Foreclosure Market

With Atlanta having the fourth-highest number of foreclosures in the third quarter according to a recent market report released by RealtyTrac, now is the best time for investors. Metro Atlanta had 21,695 foreclosures in the third quarter of 2007, a 49.1 percent increase from the year's second quarter. Although tighter lending regulations has slowed down the investment market, savvy investors can reap huge profits from the massive wave of foreclosures.

The Atlanta real estate market is flooded with bank owned homes selling at huge discounts, sometimes as low as 50 to 60 cents on the dollar. Banks are also more willing to negotiate short sales rather than losing the home to foreclosure all together. Often times, many of these homes are in move-in condition and require little to no repair work. For those properties that would require a bit of sweat equity, the payoff may still be beneficial in the end. A good search would also reveal upscale and luxury homes lost to foreclosure. Nevertheless, buyers shouldn't shy away from the real estate market, despite media and market reports that may suggest otherwise.

Contact:

Fabiola Fleuranvil, MBA
Re/Max Marketplace
(404) 437-0078
www.ATLHomeForSale.com
info@ATLHomeForSale.com

Pulte Home's Princeton Lakes Subdivision is Metro Atlanta's Top Seller

The South Fulton area of Atlanta is all the buzz with new communities, retailers, and businesses abounding in every corner of the area. It's no wonder why some of the nation's largest builders are making their way to the South Fulton area. To say the least, residents are flocking to the southside of Atlanta by the droves, which also makes sense why Pulte Homes' Princeton Lakes Estate subdivision is Metro Atlanta's top seller.

Located just a short mile from the new Camp Creek Marketplace off of I-285, Princeton Lakes Estate Subdivision sold over 300 homes in 2006, the highest number sold by any one Atlanta area subdivision. The subdivision is made up of five neighborhoods of a total of 701 homes with different price points starting from the $160s to the $350-400,000 price range. The large community also includes a 2-story clubhouse, Junior Olympic pool, children’s pool, tennis and sports courts, playground, pavilions, and nature trails. Best of all, it's located within walking distance of the new and bustling Camp Creek Marketplace, Southside Atlanta's equivalent to Midtown Atlanta's Atlantic Station. The May 2007 issue of Builder Magazine has ranked Pulte Homes number three among Georgia's top 100 builders.

Princeton Lakes' success certainly had helped. The City of Atlanta created the Princeton Lakes Redevelopment Plan and Tax Allocation District, which was used as an incentive to help spur the development of an ambitious live, work and play community in Southwest Atlanta. Of course, its close proximity to the 1.2 million square feet office and retail space of the Camp Creek Marketplace boosted the subdivision's popularity. Now, residents in this and other new communities in the South Fulton area have major shops just minutes away from their home.
South Fulton county is on fire right now. New businesses, new homes, and new residents bring a breath of fresh air for this once stale community and will help the area prosper and growth as other Atlanta neighborhoods have.

Contact:

Fabiola Fleuranvil, MBA
Re/Max Marketplace
(404) 437-0078
www.ATLHomeForSale.com
info@ATLHomeForSale.com

South Fulton is Now Atlanta's Prime Spot for Real Estate

Long ignored by real estate developers who favored building in areas north of Atlanta, South Fulton county is quickly becoming a new jewel in metro Atlanta. Previously simply regarded for its natural beauty of tree-lined streets, being the location of the nation's busiest airport, and for being apart from the typical hustle and bustle of the city life yet convenient to all of the area's top attractions, South Fulton is now popularly regarded as prime for residential and commercial development and newly constructed master-planned communities. Perhaps, developers are now flocking to the Southside primarily for its abundance of cheap land. Nevertheless, all of this activity and hype has certainly revitalized the South Fulton community and the future seems brighter than ever.

According to Metrostudy, a housing market reasearch firm, South Fulton had more top-selling communities than any other area for 2006 with six out of the 30 top-selling communities last year being located in South Fulton county. Matter of factly, 5,991, or 74 percent, of the 8,055 new home sales in Fulton County occurred in South Fulton last year, placing it second overall. The report ranked the top 30 communities with the highest new home sales in a 22-county area. Furthermore, the Atlanta Regional Commission expects South Fulton's population to grow by about 57 percent by 2030—from 33,000 people to about 52,000 people.

Residents have also taken notice of South Fulton's opportunities. A simple scan of the area would reveal affordably priced larger homes on nice size lots compared to the more expensive and space restrained homes in intown Atlanta neighborhoods. Basically, South Fulton homeowners get a lot more for their money/ Local government officials have also done their part to make South Fulton a live, work, play community bringing more attractions, recreation, and entertainment amenities for its residents. Of course, it's always promising to see new businesses move into a growing neighborhood, for instance, the new Camp Creek Marketplace. The area also boasts a diverse collection of homes from affordably and modest priced to upscale and luxurious residences. Best of all, residents take pride in the southern comfort feeling of living in South Fulton.

Contact:

Fabiola Fleuranvil, MBA
Re/Max Marketplace
(404) 437-0078
www.ATLHomeForSale.com
info@ATLHomeForSale.com

Forget the Hype; Atlantans Are Still Buying Real Estate

Nerves are running on overload. Lenders are reporting massive losses and some are even
shutting down their doors. Worst of all, homeowners are losing their American Dream in
record numbers. The recent wave of foreclosures has been heart wrenching for everyone
whether you're buying, losing your home, lending, selling or merely considering it. Even the
recent interest rate cuts is not enough to soften up the blow. Some lenders have gone
through drastic measures just to save homeowners by refinancing some of their adjustable
loans that are due to reset soon. Of course, consumer confidence is sluggish overall, but
don't be fooled. People are sill buying and lenders are still lending.

Now is the best time to buy real estate. Savvy buyers are taking advantage of declining
prices and distressed sellers while the foreclosure market continues to put great
investments right at the fingertips of buyers. To put it in perspective, Atlanta is one of the
top foreclosure markets with this year's third quarter reporting 21,695 foreclosures, or one
filing for every 92 houses, according to RealtyTrac. On the other hand, imagine the huge
discounts that those foreclosed homes will be selling for, leaving the new buyer with
instant equity.

Besides the foreclosed homes, the overall metro Atlanta market is surviving although it's
still struggling. According to Smart Numbers, there were 4,017 single family units that closed in the month of September, a 39.6% decline from the same time last year. The average
price for single family homes was $255,011 in September and $257,692 year-to-date 2007.
Both of the averages are up 2.6% and 2.9%from 2006. The month of August fared a little better than September with 5,129 closings for single family homes, a 34.6% decrease from August 2006 and 6,043 closings for all single family homes in July, a 20.9% increase from
July 2006. The average sales price for single family closings in August was $278,871
compared to $264,510 for the same period a year ago and an average closing price of $278,797
in July.

Nevertheless, these numbers are encouraging given that the media and market reports have
done a tremendous job at scaring people from purchasing. It's still a frightening situation,
of course, but certainly not as horrifying as it's been portrayed. To best summarize the
current housing situation, the market is correcting itself from the excessive appreciation
experienced in certain markets, the overbuilding of homes and condos, record high mortgage
fraud cases, and the overzealous mortgage lending practices that destroyed the subprime
market. Many predict that the woes of the market will start to lighten up within a year. In
the meantime, it'll take a bit of optimism to keep the market going.

Contact:

Fabiola Fleuranvil, MBA
Re/Max Marketplace
(404) 437-0078
http://www.atlhomeforsale.com/
info@ATLHomeForSale.com

Steps in the Home Buying Process

1) Inspect your credit and fix any inaccuracies.
2) Research the buying process and loan options.
3) Shop for a loan and get preapproved.
4) Find a qualified and understanding real estate agent. As a buyer, your agent's commission will most likely be paid by the property's seller.
5) Shop for a home that fits your budget and needs. Keep a fair balance between making a logical and emotional purchase decision.
6) Make an offer. Don't be afraid to negotiate and ask the seller to contribute towards your closing costs.
7) Order an appraisal and home inspection. An appraisal ensures that the home is not selling for more than its worth. A home inspection ensures that you're buying a sound house.
8) Shop for homeowner's insurance.
9) Obtain a good faith estimate from your lender to review the entire loan picture.
10) Sign your closing documents. Be certain of the terms of the loan before signing documents. Bring any funds required for closing. Don't forget the keys to your home!

Contact:

Fabiola Fleuranvil, MBA
Re/Max Marketplace
(404) 437-0078
http://www.atlhomeforsale.com/
info@ATLHomeForSale.com

Benefits of Home Ownership

Of course, it's clear that the benefits of buying a home far outweighs renting. If you still aren't convinced that buying a home is one of the best decisions you can make towards your financial future, here are some reasons to home ownership.

1) Pride. It feels good to know that you own your home.

2) Renting wastes your money; owning makes money and helps to minimize your taxes. Consider this, when you rent, you help pay someone else's mortgage.

3) You can realize tax benefits when you own a home and can claim the mortgage and interest payments on your taxes.

4) The appreciation and equity in your home can be a profit for you when it's time to sell.

5) Owning a home makes you attractive for equity loans that is borrowed against the equity in your home and can be used for a variety of reasons.

6) Homeownership helps to foster better neighborhoods because homeowners are more likely to be concerned for their neighborhood's vitality since it directly affects their property's value.

7) Homeownership helps to build your financial credibility.

Contact:

Fabiola Fleuranvil, MBA
Re/Max Marketplace
(404) 437-0078
www.ATLHomeForSale.com
info@ATLHomeForSale.com

5 Things to Consider Before Buying a Home

1) Know your credit.
Before you start your home search, it is a good idea to order your credit report and review it for accuracies. If you decide to pay off some items on your credit, it's smart to pay off the smallest balances first.

2) Know how much home you can afford.
Especially on your first home, don't try to overdue it and buy the biggest or fanciest home. Make sure that your monthly mortgage payment is affordable given your monthly income.

3) Do your research.
Research various loan programs, your local real estate market, home basics, and mortgage lenders. Make sure you understand these concepts.

4) Get pre-approved.
Once you're ready to buy and are knowledgeable enough to make a good buying decision, shop around for the best loan that fits your particular needs. Don't just consider the quoted interest rate; also consider closing costs and the terms.

5) Be smart in your house hunt.
Don't get carried away by the asthetics of the home, especially if you're a first-time homebuyer. However, look at other factors that may affect your property's value and future selling attractiveness. Also pay attention to a good, growing neighborhood, school districts, local tax rates, and flood zones.

Contact:

Fabiola Fleuranvil, MBA
Re/Max Marketplace
(404) 437-0078
http://www.atlhomeforsale.com/
info@ATLHomeForSale.com