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ATLANTA: Below-market interest rates offered for homes

ATLANTA: Below-market interest rates offered for homes

ATLANTA -- Starting Thursday, the Atlanta Development Authority will start to offer 30-year, fixed-rate mortgages at 3.5 percent interest, along with up to $50,000 in down payment assistance.

People applying for the program must meet lender underwriting criteria and must complete a homebuyer's seminar approved by the Atlanta Development Authority, and contribute at least $1,500 toward closing costs. Would-be homeowners participating in this plan will have to move into the designated "targeted area" and have to sell any existing property they own prior to closing on their new property.

The maximum price of the home for those using the down payment assistance program is $252,890; while those not needing down payment assistance have a maximum home price figure of $374,268 they must meet.

ULI Hosts 17th Annual Development of Excellence Awards

 

ATLANTA (Aug. 31, 2011) - On Sept. 15, the Urban Land Institute (ULI) will host its 17th Annual Development of Excellence Awards at 200 Peachtree Street in Downtown Atlanta.

The Development of Excellence Awards recognizes outstanding real estate development projects that exemplify ULI’s mission to provide leadership in responsible land use and the creation of sustaining, thriving communities.

Don’t Pass Up Neighborhood Stabilization Program Properties

Don’t Pass Up Neighborhood Stabilization Program Properties

Personally having the opportunity to walk inside several upgraded and renovated Neighborhood Stabilization Program (NSP) homes in the City of Atlanta, one thing is clear to me.  The properties are phenomenal.  Everything inside is new (if it’s not, it certainly is in great condition).  Fresh paint.  Stainless steel appliances. Hardwood floors (in some units) or new carpets.  Fenced-in back yards and/or covered front porches.  These are just a few of the upgrades attracting buyers to the City.  But renters have a great selection of upgraded units too.  Some have granite counters and other amenities I just mentioned.  NSP properties are a great choice for singles, families and college grads who want to live in the City.  If you are in the market to buy and you want to live in the City, I would not pass up the opportunities NSP offers you.   

Metro Atlanta foreclosure rate 16th highest in nation

Metro Atlanta foreclosure rate 16th highest in nation

ATLANTA -- Metro Atlanta's foreclosure rate slowed by the middle of 2011, but remains among the metros with the highest rates.

Atlanta had 44,1560 foreclosure filings from January through June, down about 16 percent from the first half of 2010. This gave Atlanta the 16th highest rate of foreclosures, according to RealtyTrac, which publishes the largest list of foreclosures in the country.

The company defines a foreclosure as default notices, scheduled auctions and bank repossessions. 

Real Estate has a Long Road to Recovery

 

The next years of real estate are not going to be positive for homeowners. In fact, it’s estimated that in 2012 over 60% of all home sales will be foreclosures or short sales. This means that the banks will control the pricing of more than half the real estate market and we can expect continued declining values. This idea may not sit well with many after the mortgage meltdown and moral hazard issues we had over the past five years.

Further, we at Sellect Realty believe that it will be another five to seven years before we see home values near their previous peaks and then we expect a plateau for several years to follow before growth. Currently our market is still declining. Despite month-over-month gains we have had another drastic decline in home values over the past 12 months. According to the recent statistics released by Realtor.com the average listing price decreased by 11.42% from June 2010 to $250,933.  

JUST A FEW HOMES REMAIN AVAILABLE AT LUXE CONDOMINIUMS ON 12TH STREET

JUST A FEW HOMES REMAIN AVAILABLE AT LUXE CONDOMINIUMS ON 12TH STREET

ATLANTA (June 28, 2011) – Over 90% of the homes at LUXE, the striking 22-story boutique-style Midtown condominium tower, have been sold with only 10 homes remaining for sale. LUXE is one of six condominium communities launched by ST Residential last year.

 

“Buyers are realizing this is the perfect economic climate to purchase,” says John Huckaby, ST Residential’s Regional Managing Director in Atlanta.  “The parkside location and luxurious amenities are also very appealing to the astute buyer.”

 

FULTON: County takes foreclosure help to Twitter

FULTON: County takes foreclosure help to Twitter

ATLANTA -- Fulton County answered residents' housing and foreclosures questions through Twitter Thursday afternoon.

Commissioner Liz Hausmann of District 3 and a Fulton County housing counselor took questions via the county's official Twitter feed between noon and 1 p.m.

Hausmann also organized a Foreclosure Prevention Fair for this Saturday at Alpharetta High School.

RELATED: Free foreclosure help for Fulton County residents

Anyone who didn't have the opportunity to ask questions or get answers is encouraged to attend the fair.

To see other Fulton residents' questions, check out the @FultonInfo Twitter feed and any tweets marked with the hashtag #FChousechat.