Wednesday, November 10, 2010

Prime Time to Buy


Prime Time to Buy
7 Reasons Why Now Is a Great Time to Buy a Home



Recent history has reframed some of what had long been taken for granted about buying a home. Namely, we’ve learned that even though buying a home remains one of the best and safest investments available, a home should not function as an ATM or a short-term speculation strategy. So, where does that leave us? A lot smarter, able to recognize an opportunity when we see one, and aware of the facts that point to now as the prime time to buy a home.

1. Home affordability is at an all-time high. The median mortgage payment on the median-priced home, as a percentage of the median household income, is lower than it’s been in a generation.
2. Mortgage rates are at rock bottom. It’s hard to imagine interest rates going much lower, and when they start to inch back upward, monthly payments and total loan costs will spike upward.
3. Home prices are back on the rise. After declining for 30 months, home prices are trending back upward. The time to get in the market is now.
4. Sellers are motivated. This means that buyers have the upper hand. Sellers are fiercely competing among an excess of housing inventory, which often means buyers have untold choices and negotiating power.
5. Financing is readily available. Banks are back in the game and ready to lend to well-qualified buyers.
6. Owning vs. renting is increasingly favorable. Since 2009, the average principal and interest payment has fallen below the average rental rates, and the gap is now wider than it’s been in the past 22 years.
7. Homeownership is still at the core of the American Dream. Owning a home is critical to financial stability and wealth building. It’s a forced savings account, a place to live, and a fabulous tax deduction.

Market Update November 2010



The housing market continues its gradual recovery without the aid of the tax credit. Sales are slower but growing. Although it will likely be uneven at times, slow growth is believed to be the trend moving forward. Interest rates hit a new historic low again, a major factor in helping keep mortgage payments incredibly affordable.

Extended periods of record low interest rates and further plans from the Federal Reserve Board to expedite recovery have some concerned about future inflation. One such investment guru, John Paulson, touted the benefits of owning real estate as a hedge against inflation on Forbes.com. “Your debt and interest payments get locked in at record lows, while the price of your home will rise … If you don’t own a home buy one … if you own one home, buy another one, and if you own two homes, buy a third and lend your relatives the money to buy a home.”

This march back up continues to provide excellent opportunities: an ample selection of homes, affordable prices, and historically low interest rates. Experts anticipate both the economy and the housing market will continue their paths on the way to a complete recovery.



Home Sales

Home sales continued to rebound in September, increasing 10% compared to the previous month. This builds on August’s gain of 7.6% that followed a large drop caused by the expiration of the federal tax credit in July. Sales are expected to gradually grow as the market moves toward recovery without government stimulus. The recent foreclosure moratorium has opened up opportunities for short sales. Although it could make the near-term “choppy at times,” industry experts expect the overall trend to continue growing slowly.

Tuesday, November 9, 2010





Amenities: Monticello Park blends the best of both worlds with 2, 3, and 4 Bedroom Townhomes and a Master Planned Enclave of Single Family Homes. This beautiful D.R. Horton Community has a gated entrance and offers great amenities such as swimming pool, tennis courts, tot lots, maintenance-free living and lavish, professionally groomed landscaping. Monticello Park is close to Major Interstates, Downtown Atlanta, and Hartsfield Jackson Airport. Monticello Park with all that it has to offer is sure to meet your lifestyle needs.








Program Structure

The Beltline Affordable Housing Trust Fund provides homebuyers with downpayment assistance of up to 20 percent of the sales price at a zero-percent interest rate as a soft second mortgage.

Who Qualifies?

There is no first time homebuyer requirement for borrowers moving into the incorporated city limits of Atlanta but, current residence must be sold prior to closing on the new home.

Qualifying Properties

Sky Lofts -One, two and three bedroom units from $119,000


Triumph Lofts-Lofts located in the Reynoldstown Community from the mid $200,000


Milltown Lofts-One ,two bedroom units from the $170,000's


Glenwood Park- Condominiums in the Glenwood Park Community from $132,500


Grinnell Lofts- Boutique Condominiums in Inman park


White Provision-Condo living in trendy West Midtown from the $220's


870 Inman-Condos in Inman park Village near the BeltLine from $179,000.

Thursday, November 4, 2010




KISS YOUR RENTAL PAYMENTS GOODBYE!!!Welcome home to to a great Christmas present that will definitely be the gift that keep on giving!! On November 9, 2010 The Success of Real Estate Radio will be bringing you information that can make you a Homeowner by Christmas with almost %50 off the Sales price at HISTORIC WESTSIDE VILLAGE CONDOS http://www.westsidevillagecondos.com

We will be having Kenyatta Stewart from Historic Westside Village to tell us how you can kiss your rental payments good bye and be a homeownwer at his Community! We also will be having Micole Sudduth from America Home Key Mortgage and she will be explaining the criteria needed to qualify for almost $50,000 in Down Payment Assistance for this purchase! Can you imagine living at this beautiful community for less then what you pay in rent? Don't believe me..? Just make sure you tune in on Tuesday November 9th at 10 AM to find out what we have in store for you at Historic Westside Village!!

ONE BEDROOM -$79,000 TWO BEDROOM-$99,000
For a very limited time you can snatch a luxury condo at Historic Westside Village with downpayment assistance. Historic Westside Village features an open floorplan, granite countertops, hardwood floors, stainless steel appliances, and a pool and fitness center.

Historic Westside Village is conveniently located close to downtown shops, entertainment and just blocks from the Georgia Dome.

Down Payment Assistance Available

AAHOP-$10,000
HOAP-10% of Dales Price up to $15,000
Capitol Gateway-Up to $30,000 in DPA available(*)

Thursday, October 28, 2010


The Atlanta Housing Authority(AHA) has increased its Capitol Gateway down payment assistance from $20,000 to $30,000….. for a limited time only! Beginning immediately(10/26/10), until 12/31/10…. this $30,000 dpa incentive is available to qualified buyers. All Capitol Gateway Program requirements still apply.This program can be layered with the ADA Programs and can give you a possible total savings of up $70,000 FREE!!Call me for details.404.732.2656

Tuesday, October 26, 2010


Hot Of The Press!!!! The Atlanta Development Authority has been awarded an additional $25 Million in Down payment Assistance to help First Time Homebuyer as well as move up buyers to assist them in purchasing a home in the City of Atlanta. Did you know that the law still defines a first-time homebuyer as someone who has not owned a primary residence for three years prior to the date of purchasing their new home. Exisiting New Construction single family homes,townhomes, condominiums, and manufactured housing with a maximum purchase price of $252,890. All Properties must be in the City of Atlanta Contact us at 404-732-2656

Tuesday, October 19, 2010


Tax Incentives Benefit Younger Households
by Carla Hill


Younger Americans may now have added incentive to enter the housing market. New research reported by the National Association of Home Builders (NAHB) shows that certain mortgage tax deductions may decline with age, and thus favor the younger set of the nation, specifically those aged 18 to 45.

Recently released Statistics of Income (SOI) data from the Internal Revenue Service (IRS) shows, according to the NAHB, that "the descriptive statistics ... demonstrate that the housing-related tax deductions, the mortgage interest and real estate tax deductions, strongly benefit younger households who tend to be recent homebuyers with larger mortgage debt."

These findings could affect how tax codes changes are proposed in coming years, as an ailing housing market needs first-time and Generation Y homebuyers to enter the market.

"Opponents falsely argue that the [mortgage interest] deduction is only for the wealthy but it is clear that the mortgage interest deduction is also of great value to younger homeowners," said Robert Dietz, Assistant Vice President for Tax and Policy Issues for NAHB. "Any tampering with this deduction would have a disproportionate impact, as a share of household income, on younger homeowners who have relatively higher mortgage interest payments. These are households who have growing demand for homeownership due to marriages and children."

According to the research, the average mortgage interest deduction was highest for the 35 to 45 age group, and then declined with age. Those under the age of 35 had the second largest deductions, at around $12,000 average.

The same trend is seen for mortgage insurance deductions. NAHB research shows "as is expected, the largest shares for this deduction, associated with homebuyers with less than 20% of the home price as a downpayment, are for those aged 18 to 45."

These tax advantages, along with more affordable pricing and historically low interest rates are even more reason that new buyers should consider entering the market at this time.

Published: October 13, 2010

Wednesday, October 13, 2010

Options for Investors


Not only is it the perfect time to buy a home, but it’s also an excellent time to purchase an investment property. If you already own and are not interested in moving – or you can’t because of the 3-year occupancy requirement to keep your home buyer tax credit – but still want to take advantage of the market, investing can be a great way to do so.

In the current lending situation, lenders often require investor buyers to have six months reserves of mortgage payments and a 25% down payment. This stipulation keeps many would-be investors out of the market.

Here are some little known tips to help investors purchase, regardless of the tighter lending environment:

1. Investors can purchase a Fannie Mae HomePath investment for 3% down.
2. Any investor, not just veterans, can purchase a Veterans Affairs(VA) foreclosure with VA’s Vendee Financing for 5% down.
3. Investors purchasing a VA foreclosure with Vendee Financing can use 75% of anticipated rent to offset the monthly payment if the investor has experience managing rental properties.

Sources: The Wall Street Journal, Inman News, KW Research



Like a car dealership at the end of its model year, Fannie Mae is offering special incentives exclusively for owner occupants that purchase property from its sizable inventory of foreclosures, also known as HomePath properties.

Owner occupants that purchase a Fannie Mae HomePath property by December 31 will receive up to 3.5% toward closing costs and a home warranty. These incentives for foreclosures are unheard of – banks typically sell foreclosures “as-is” without incentives, warranties, or repairs. This could help buyers to view a HomePath property more like a traditional sale, not a foreclosure, during their search process.

Owners and investors can purchase HomePath properties for 3% down and no mortgage insurance. For homes that are not in tip-top shape, Fannie Mae also offers the HomePath Renovation financing, which works similarly to FHA’s 203(k) mortgage by allowing the cost of light renovation to be included in the mortgage. Furthermore, owner occupants get a 15-day “first dibs” on HomePath properties through the First Look program.

Fannie Mae is also offering agents an additional $1500 for representing owner occupants who purchase these properties, helping to compensate them for the extra paperwork and other potential obstacles that come along with foreclosure transactions.

Buyers should be sure to take a second look at Fannie Mae’s HomePath properties before settling on “the one.” It could mean not just a great deal but an excellent one.

To see Fannie Mae’s HomePath homes, check out HomePath.com

Market Update


The housing market continues its slow recovery without the aid of the now expired tax credit. Sales are slower but growing, and prices remain on par with last year’s levels. Interest rates also hit a new historic low, a major factor in helping keep mortgage payments low, which is expected to spur sales.

The economy shone a bit brighter in September. It grew faster during the second quarter than expected, and companies continued to hire. Experts believe there is now less risk of a double-dip recession. Now, the Federal Reserve Board’s challenge is not if the economy will grow but how fast.

Experts anticipate both the economy and the housing market will continue their path on the way to a complete recovery. This march back up provides excellent opportunities: an ample selection of homes, affordable prices, and historically low interest rates.

Home sales began to rebound in August. This increase follows a large drop caused by the expiration of the Federal tax credit in July. Sales are expected to slowly rebound as the market finds its footing without leaning on the government for support. First-time buyers fell from 38% to 31% in August from July. Over the same time period, investors rose from 19% to 21%. Overall home prices fell slightly in August compared to July, but major markets appear to be bucking trend as the Case-Shiller Index shows an increase of 3.2%.

Distressed properties accounted for a slightly larger proportion of sales in August compared to July. The discount in distressed properties helps explain the slight decline in August prices.

Total inventory came back below 4 million to 3.98 million in August, representing 11.6 months of inventory. While still at a relatively high level, months of inventory dropped by nearly a month in August from the 12.5 month’s supply in July.

Housing remains highly affordable, and prospective home buyers stand to benefit from the lowest mortgage rates in decades, as well as advantageous home prices. The ratio now stands at 14.9%, growing closer to the record of 13.6%.
Source: National Association of Realtors

Friday, October 1, 2010

FALL Into Homeownership Month



Don't miss out on the opportunity to take part in this great event!!! I will see you on the 16th!!

Wednesday, August 18, 2010

Oakland Park








Enjoy a green lifestyle while living in a trendy neighborhood at Oakland Park. As Atlanta’s first LEED Silver certified condominium, homeowners can contribute to sustainability while taking advantage of Oakland Park’s affordability. However, with up to $35,000 in down payment assistance available, homes starting at just $119,900 and FHA approval with only 3.5 percent down, homebuyers must hurry to secure one of the 65 condominiums available.

Oakland Park condominium interiors include 10-foot ceilings, granite countertops, bamboo floors, Energy Star stainless steel appliances and a large, private balcony. Plus, residents will enjoy the amenities including a rooftop sundeck, outdoor grill and fitness center. In addition to these great amenities, residents can savor the breathtaking and expansive views provided by the Atlanta skyline.

This boutique community is located in East Atlanta, within walking distance of popular shopping, dining and entertainment.

Wednesday, July 7, 2010

News Letter For July





15 Million in Down Payment Assistance Still Available in Atlanta
Warren Buffet said it best, "When there is fear in the market be greedy, and when others are greedy be fearful."

I would have sent you a happy Fourth of July message but was certain that you would not be reading emails on your Holiday - right?
Want to share a few things with you that may benefit you or someone you may know. These items come from the questions that you, our clients, family, and friends - ask most often of us.
1. "I owe more on my home than it is worth and I MUST sell this house". You may qualify for a SHORT SALE. What is a short sale? A short sale is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan.
We have people who can help you! Call 404-732-2656 or email LaMarkw@gmail.com RIGHT NOW - time is of the essence.
2.Special Note for Overseas Military Personnel and Federal Employees (thank you so very much for serving our incredible country) Military personnel and some federal employees serving overseas may still be able to claim the credit on home purchases made before April 30, 2011. Consult the IRS web site for more information on the Extended Home Buyer Tax Credit provisions for qualified military personnel and federal employees. - if this link does not work, please cut and paste the following in your web browser: http://www.irs.gov/newsroom/article/0,,id=215594,00.html

We have partnered with the Atlanta Development Authority to help bring you great opportunities in Home Ownership.!!
If you have a minimum Credit Score of 620 and currently make less than $72,000 p/y you may qualify for up to $60,000 in Down Payment Assistance at some of the great downtown Atlanta Townhomes and Condomiums. If the address is in Atlanta the property qualifies here are a few examples..
Great Downtown Condos available for up to $60,000 in Down Payment Assistance
Castleberry Point
Twelve Centennial Park
Studio Plex Lofts
Tribute Lofts
Central City Condominiums
Historic Westside Village

LaMar C Campbell ABR MBA
Residential-Commercial -Investment-Downpayment Assistance
Your Circle Of Success Real Estate
Solid Source Realty GA
O.678-886-0874
C.404-732-2656
F.404-492-7156
LaMarKw@gmail.com
www.thesuccessofrealestate.com
Find us on Facebook
$20,000 Available from the Atlanta Housing Authority
ahaWhy stop at $60,000 when you can potentially have $80,000? That is correct! You may use the Atlanta Development Authority Downpayment Assistance of $60,000 combined with the Atlanta Housing Authority Downpayment Assistance amount of $20,000 for a total of $80,000. Look at this Video of how one young lady took advantage of the BeltLine Program Click Here Do not miss out on this great opportunity to become a homeowner. Visit our website for all your Atlanta Real Estate Information www.thesuccessofrealestate.com


FREE HOMEBUYER WORKSHOP!

Homebuyer Education Workshop
& Walking Tour
Saturday, July 10, 2010
8:30 am - 5:00 pm
Carver Family YMCA
1600 Pryor Road SW
Atlanta, GA 30315


Space is limited!
Please RSVP to Tracey Powell at (404) 614-8280 or
tpowell@atlantada.com. Reservation is required for free admission.
On-site registration on July 10th is $25.
National Real Estate Needs Serviced

Your Circle of Success Real Estate prides itself on our relationships nationwide and world wide. If you have a family member or friend in another state or even country we can connect them with a great real estate professional or mortgage consultant that will take great care of them!!
Real Estate Needs ANYWHERE in the United States and Bermuda, Panama and Jamaica! Really, we have someone who is uniquely qualified and extremely capable of handling all of your real estate needs - wherever they exist. Give the referral network of Your Circle of Success Real Estate a try: email your requests to LaMarkw@gmail.com
Financing - Mortgage rates hit new records for the second week in a row, with 30-year fixed-rate mortgages averaging 4.58 percent during the week ending July 1. Rates on 30-year fixed-rate loans are down from 4.69 percent last week and 5.32 percent a year ago, and at a new all-time low in records going back to 1971. Down Payments are as low as 3.5% of the sales price. Let me know if you need the name of a Mortgage Consultant - I can help ycosre
.

Thank you again for taking the time forward out my emails, calling me for up to date information me or for just being a friend. We service Fulton, Dekalb , Cobb, Gwinnett ,Henry, Clayton,Douglas Counties as well as all Metro Atlanta Don't forget to take a look at my Special Offer Below we can possibly be at a Housewarming party soon!! Stay cool out there everyone and "always have the perfect state of mind for success.."
Sincerely,


Lamar C. Campbell
Your Circle Of Success Real Estate
Free Housewarming Party!!Your Circle of Success Real Estate would like to thank all of our supporters and referrals! If you close a home with us between now and December 2010 we will throw you a HOUSEWARMING PARTY for you and 25 guests completely catered at no charge to you! This coupon must be printed and presented in person. This coupon is non transferable? Please feel free to share the offer with friends and family members.


.

Offer Expires: December 2010

Tuesday, June 29, 2010

Buying or Selling a Short Sale


Short Sales

Short sales are becoming even more common due to the huge increase in the number of foreclosures which are having an effect on home values across the nation. Due to the current subprime and anticipation of the more ARM resets, many people are considering short sales but are not clear on the short sale process and how it can be used to avoid foreclosure. A Short sale is basically a process which allows the borrower to sell the home for less than what is owed on the mortgage loan and allows the seller to avoid having their credit score hit with a foreclosure penalty. Although, there is still a penalty given for short sales, the time to buy a home is shortened with a short sale versus a foreclosure home. A foreclosure can stay on your credit report for up to 10 years while a short sale can range 3 to 5 years. Depending on when you plan to get short sale completed, the IRS may consider your debt forgiveness as taxable income.

The Short Sale Process for Sellers:

1. Contact the lender to discuss the chance of a short sale of the mortgaged property and determine the lender’s process for completing a short sale, successfully.
2. The borrower is to send a lender of hardship to the lender. The letter is to include all financial difficulties, in which the lender can research to validate the seller’s financial situation. Additional documents are to be included with the letter, including bank statements, investment accounts, paystubs and other financial records.
3. A lender will review the settlement package and consider forgiving the remaining loan balance and all expenses (property taxes, etc.), real estate commissions and other expenses associated when closing.
4. A BPO will be ordered by the mortgage lender to determine a Broker Priced Opinion (BPO) to examine the prices of the home in the market by looking at comparables.
5. The lender then will review the purchase agreement and determine if the real estate commission is acceptable.

Short sales can be quite lengthly and need a good real estate agent, a lender willing to work with you on the loan and a buyer.

Success Rate? Success rate can range from 6% to 50% depending on the lender holding the loan, how many loans are on the house and the Realtor’s experience. There are many factors involved in making a successful short sale. The Realtor has be prepared and present to the bank all the required documents to prove to the bank that the owner can no longer afford the house and also prove the home is worth less than the surrounding market.

Tips:

* Be ready for anything. A short sale can be finalized with the bank in 2 weeks or take as long as 5 months.
* If time is an issue. Stay away from short sales, they are unpredictable.
* Be aware that the owner is still living in the home and depending on their situation, they may take things from the home prior to closing. Make sure your realtor is on your side.
* Find out how many loan the borrower has on the home and how much they owe.
* Continue to take additional offers while the bank is reviewing an accepted offer to keep your options opened. The buyer may have an addendum that allows them to back out at any time.
* Consult an accountant, lawyer or real estate with your important decision in deciding on a short sale.

Short Sale Buyers

The Short Sale Process for Buyers:

1. Hire a Realtor to protect your best interests, especially when dealing with short sales.
2. Search for Short Sale Propeties
3. Make an offer on a short sale property and include a Short Sale Addendum which allows you to back out prior to and after a lender has sent written approval of the short sale. This way you can continue looking at homes if the short sale is taking too long or you can back out at any time if something better comes onto the the MLS.
4. Make escrow to start AFTER the lender has submitted written approval to your agent before getting your earnest money tied up in possibly many months into a limbo account.
5. Get an appraisal and home inspection AFTER the lender has approved your offer.

Tips:

* Many short sales fail because the mortgage company is unfamiliar with the local market. Don’t expect a quick answer as they research the comparable home sales.
* The lender may request the real estate agents reduce their commissions to minimize costs.
* The lender may demand the seller to sign a promissory note to pay back the short sale. If the seller refuses, it may sour the deal.
* The mortgage company does not want to own the property, that’s the last thing they want to do.
* Make sure to include an escape provision if the process takes longer than you want or a better property comes along.


The Metro Atlanta housing market continues to evolve and Georgia Down Payment Assistance Programs have as well. For years, Georgia Down Payment Assistance Programs were available only to the GA first time home buyer, persons who have not owned a home in the previous three years. In light of the recent housing crises, several programs are now available to Metro Atlanta move-up buyers who do not currently own a property and higher income households that may ease the acquisition process associated with home ownership and make it affordable to a wider consumer base.

These Georgia Down Payment Assistance Programs offer silent second mortgages, interest-free loans with no monthly payment requirement as long as the borrower owns and occupies the property as their primary residence and does not refinance the mortgages. The borrower and property eligibility and redemption periods, the length of time that the second mortgage must encumber the property before the loan is forgiven, vary by product, so call me today for more information on the right non- GA First Time Home Buyer product for you.

Georgia Dream Program

Branded Georgia Dream Recovery, this second mortgage offered by the State of Georgia offers a silent second mortgage of up to $7,500 on new or existing properties in 22 flood-ravaged counties (including 13 major counties in Metro Atlanta) priced up to $300K. The borrower must have a middle credit score of 660, may have liquid assets of no more than $20K or 20% of the purchase price at settlement, must attend a HUD-certified home buying class and must contribute at least $1,000 toward the transaction. Please see the Georgia Down Payment Assistance Recovery Flyer for more details and then call me with questions.

City of Atlanta Opportunity Down Payment Assistance

Borrowers buying within the City of Atlanta may be eligible for a second mortgage of up to ten percent of the purchase price on properties priced at up to $252,890 with a redemption period of ten years. The borrower must have a sound credit history, must attend a HUD-approved home buying workshop and must contribute at least $1,500 toward the transaction. See the Atlanta Down Payment Assistance flyer for more information and then call me for more details.

City of Atlanta Beltline Affordable Housing Trust Fund

Properties located in the Beltline Tax Allocation District may be eligible for purchase by qualified borrowers using Beltline Funds of up to 20 percent of the sales price up to $252,890. There is a fifteen-year redemption period and the buyer must attend a homebuyer class. Call for a list of eligible properties today.

City of Atlanta Vine City

The Vine City/English Avenue Trust Fund is available to borrowers looking to buy properties located within the eligible city boundaries. The product offers down payment assistance of ten-percent up to a maximum dollar amount of $15,000. The borrower must contribute $1,500 toward the transaction and attend a HUD-certified and City of Atlanta-approved home buying class. For more information, please call today.

Neighborhood Stabilization Programs

Counties within the Atlanta Metro Area are offering down payment assistance of up to $25,500 through their Neighborhood Stabilization Programs (NSP). Some of the NSP programs are administered by the Georgia County that has purchased the properties, completely renovated them and placed them on the market while other municipalities are allowing the buyer the opportunity to find their own foreclosures. As an example, please see the Gwinnett County Down Payment Assitance NSP Flyer here. Contracts must be carefully written in accordance with program guidelines so please call today for more information.
Please note that other programs may be available within Metro Atlanta for move up buyers and higher income households.


Here’s a snapshot of some of the various active Georgia Down Payment Assistance Programs to help the GA first time home buyer determine which program will work for them. Funds are provided through a soft second mortgage (an interest and monthly payment-free mortgage) that is forgiven after a set period of ownership. Most programs are restricted to those whose incomes are at 80% of the average median for their household size while others are offered at 100% of the average median for the household size. See the flier to the left of the screen for details, restrictions and more.

* State of GA First Time Home Buyer Program – Branded Georgia Dream, the state offers soft second mortgages of up to $10,000 to be used to toward the down payment and closing costs on the purchase of single family homes, townhomes, condominiums and more. The borrower must be a Georgia First Time Home Buyer (has not owned a home in the past three years) and must use the first mortgage offered by the state.

* The Atlanta First Time Home Buyer Program – The Atlanta Development Authority offers down payment assistance programs to the Atlanta First Time Home Buyer who is looking to buy within Atlanta City Limits. Qualified borrowers may buy eligible properties using one of or combining a few programs:

o Opportunity Down Payment Assistance Program (ten percent of the purchase price up to $252,890),

o the Atlanta Affordable Homeownership Program ($10,000 toward the purchase price up to $252,890),

o Vine City/English Avenue Trust Fund Program (ten percent of the purchase price up to $15,000)

o Beltline Affordable Housing Trust Fund (Up to 20% of the purchase price up to $$252,890)

* Gwinnett Down Payment Assistance – Branded HOMEStretch, Gwinnett County offers the eligible Georgia First Time Buyer up to $7,500 toward the purchase of single family homes, town homes and condominiums built after 1977.

* Dekalb Down Payment Assistance – Dekalb County offers up to $8,000 in down Payment Assistance to be used toward the purchase of single family homes.

* Neighborhood Stabilization Programs (NSP) - Municipalities are buying foreclosed properties within their areas of greatest need (areas hit hardest by foreclosures), rehabbing them, returning them to the market and then offering soft-second mortgages of up to $22,500 to be used toward the down payment and closing costs. Both the state (temporarily) and some local municipalities allow NSP Funds to be used by borrowers who have identified foreclosed properties within those areas to be used toward down payment assistance. If you are NOT working with an agent, please call for a list of Gwinnett and Henry County NSP properties.

* HUD $100 Down Program – Granted, this is not a traditional down payment assistance program, but owner-occupant borrowers may be eligible to purchase a HUD-owned home for as little as $100 down. Up to one-thousand dollars in earnest money may be still be required, plus the inspection fee, and there may be instances when more than $100 will be required (i.e. multiple bids, etc.), but this program also provides a pathway to home ownership to those with little money for the down payment AND there are no income limits.

Other Georgia Down Payment Assistance Programs are available to the GA first time home buyer at various times throughout the year, but the funds do run out, so be sure to return to this blog frequently for updates. Again, if you are not working with an agent, please feel free to contact us with any questions tha you may have.

Thursday, June 24, 2010

Castleberry Point







LIVE VS. RENT!

Why pay rent when you can own a brand new condo in Castleberry Hill for as low as $786/month? With the low prices and interest rates of today, this is a unique opportunity to buy now!

Studios from $99,900 - Only $786/month*
1 Bedrooms from $134,900 - Only $1065/month*
2 Bedrooms from $199,900 - Only $1577/month*

Castleberry Point is the epicenter of Atlanta’s only true art and loft district, Castleberry Hill. Soaring windows, hardwood floors and expansive windows are punctuated by today’s most popular modern amenities. Very livable, very walkable, and a real find.
DownPayment Assistance Available






The skyline is changing. The architecture is awesome. The vision is new Atlanta. TWELVE Centennial Park is a 39-floor residential tower consisting of 517 homes. Glass reflects the sky, the city, and the upfront urban attitude of the people who call TWELVE Centennial Park their home.

DownPayment Assistance Available




FEATURES
True Lofts
Up to 18' Ceilings
Stainless Steel Appliance Package
Granite Countertops
Designer Wood Cabinetry
36" High Vanities
Tile Backsplash
Sealed Concrete Floors

DownPayment Assistance Available!!







Tribute Lofts is true loft living in the heart Atlanta's historic 4th Ward. Offering award winning architecture, Tribute has 1 and 2 bedroom lofts with iconic skyline views of Atlanta and Buckhead.

Down Payment Assistance Available!!!!






Central City offers an amazing value at the cross roads of Virgina-Highlands, Downtown and Midtown.Experience incredible downtown views, Controlled access & Covered Parking , Fitness Center, Swimming Pool and Clubroom.

Downpayment Assistance Available!!!




ONE BEDROOM -$79,000 TWO BEDROOM-$99,000

For a very limited time you can snatch a luxury condo at Historic Westside Village with downpayment assistance. Historic Westside Village features an open floorplan, granite countertops, hardwood floors, stainless steel appliances, and a pool and fitness center.

Historic Westside Village is conveniently located close to downtown shops, entertainment and just blocks from the Georgia Dome.

Down Payment Assistance Available

 

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