Good Foreclosures are going fast!

It is true that this is very much a Buyer’s market; but with the limited amount of inventory available, good-looking foreclosure properties, in desirable areas, sell very fast.

Take for example the home below, that went on the market on Saturday morning. This adorable 2 bedroom, 1.5 bath home in Buford was listed at $15,899 and need of some cosmetic work, but nothing too major.  One huge plus to this home is the Buford City School District that it’s in.  Ranked as one of the top schools in the state, the school system only added to the great value of this little home.

Our Clients, a young couple purchasing their first home, made an all cash offer on Monday morning for $3,000 over the list price.  Unfortunately, their offer was not accepted, and I was told there were at least 10 other offers in the mix.  We will continue looking, and I know they will find the perfect home.  At the very least after making this offer, they have learned that you have to be aggressive and quick with your offer on any great deal like this that comes along.

There are unbelievable deals like this coming on the market every day.  If you would like to be notified as soon as a good foreclosure deal goes on the market in a specific area, send us an email to info@hillwoodhometeam.com and we would be happy to set up a custom foreclosure search for you.

Whether you’re an investor, a first time home buyer, looking to move up to a larger home, or seeking commercial space- there is every kind of foreclosure deal available right now.  We look forward to helping you find the best possible property for your needs.

Spring has sprung!

Tomorrow is the first day of spring, and this year the housing market might not be as daunting for buyers and sellers, according to a new report.

The number of homes for sale has been steadily decreasing, helping list prices stabilize and giving both buyers and sellers a little more confidence in the market.  Overall, national inventories have dropped more than 20 percent since last year, according to a Realtor.com report, and houses are staying on the market for shorter periods.  List prices are looking up, too, rising almost 7 percent since last February.  This is great news for both buyers and sellers alike!

In Gwinnett County these statistics are especially true, where there have been 1,623 closings so far in 2012.  With interest rates at an all-time low and amazing deals everywhere you look, many buyers are taking advantage of this spring market.  We are also seeing more and more sellers listing their homes lately, even though they may be competing with foreclosure and short sales.  If a home looks good and is priced right, it will sell.

With spring finally here, we are confident the market will only continue to improve and prosper.  For all of your Real Estate needs-  buying, selling or renting- call The Hill Wood Home Team at (678)714-6384.

Considering a short sale? We can help!

If you are behind on your mortgage payments for any reason, or if you expect to have problems paying your mortgage in the future, we can help.  The Hill Wood Home Team is experienced with every aspect of the short sale process and we will work directly with your lender to find a solution now.

What exactly is a short sale you ask?  It is a transaction where the lenders agree to accept less than the mortgage amount owed by the current homeowner, in lieu of foreclosure.  There are many reasons homeowners may choose to do a short sale on their home.  Some fall on hard times either due to a job loss, divorce, or medical situation, which then causes them to fall behind on their mortgage payments.  Others may want to sell their home either because of a job transfer or the need for a larger or smaller home, and the amount they owe on the home is significantly less than what their home will sell for in today’s market.  If the net proceeds from the sale won’t cover the total mortgage obligation and closing costs, and you don’t have the funds to cover the difference, then a short sale may be your best option.

The first step to a short sale is to hire a professional real estate team that is experienced in the process.  The Hill Wood Home Team works closely with attorneys and will be a strong voice for you when negotiating with your lender.  We will provide you with a comparative market analysis to give you a good idea of what your home will sell for in today’s market, market your home on 100’s of sites, assist you with completing your short sale package to send to the lender, negotiate with the buyers, and most importantly we will make sure the entire process is as smooth and hassle free as possible for you and your family.  The best part about what we offer is that our services are FREE to you when you do a short sale on your home.  In the state of Georgia, the lender pays our commission on a short sale, even though we are working for you.

Sometimes the only option is short selling your home.  Of course, no one is better at helping you do that than a licensed Realtor.  At The Hill Wood Home Team, we work with distressed homeowners every day, so there is no need to be ashamed or embarrassed about doing a short sale.  It’s better to short sell your home rather than go through foreclosure because not only will it save you from having a huge hit on your credit, but most people can qualify to buy another home within 2 years.  There IS hope!  Call or email us today and let’s talk about your options.

(678)714-6384

info@HillWoodHomeTeam.com

What is the NSP Program?

The NSP Program or The Neighborhood Stabilization Program was established under HUD to help stabilize communities that have suffered from foreclosures or abandonment.  A second objective of the NSP Program is to provide affordable housing to eligible low, moderate, and middle income homebuyers.  A Housing and Recovery Act was signed into law in 2008 to address the severe housing crisis, allocating $3.92 billion in grant funds under the NSP Program.  These funds allow local governments to purchase and redevelop foreclosed properties in areas with the greatest need.

Gwinnett County received approximately $10.5 million from HUD, as well as approximately $3 million from the Georgia Department of Community Affairs.  Available NSP homes are priced from $70,000 to just under $200,000 and are located throughout Gwinnett County.  Some of these homes were previously foreclosed and have been updated and finished into move-in ready homes, while others may have never been lived in at all.

NSP Homebuyers will receive up to $22,500 towards the purchase of their new home which may be used to lower the sales price, towards the down payment, or for closing costs.  The purchaser must meet certain qualifications including qualifying for a 30 year fixed FHA loan, completing an 8 hour HUD home owners class, and they must occupy the home as their primary residence.  There are also income levels which must be met.  For a family of 2, the maximum household income for all persons in the household must not exceed $66,550, and for a family of 4 the maximum is $83,150.

This beautiful home in Lawrenceville offers 5 bedrooms, 3 full baths, and is almost 3,300 square feet!  Listed at $195,900, this NSP home offers $22,500 in down payment assistance.

For a full list of current available NSP Program homes, call us at (678)714-6384 or email us at info@hillwoodhometeam.com.

Why buying a foreclosure may be a good option for you

There are many reasons why buying a foreclosure may make sense for you and your family, including low price, flexible financing, and profitability to name a few.

The most common discount you will find on a home that has gone into foreclosure is about 5-10 percent below the true market value.  However, this price can be lowered as much as 30-50 percent depending on the property and how long it has been on the market.  In any case, you will be able to purchase the property for a lot less than most re-sales or new construction.  Also, because most foreclosures are so inexpensive, they are a good option for re-sale, equity building, renting, or other investment purposes.  Since most foreclosures require repairs or renovations, many buyers choose to go this route so they can remodel the home to their own tastes.  Whether you decide to stay in the house for years, or flip it quickly to make a profit, you stand to gain financially.

If you are looking for a home you can move into quickly, a foreclosure may be a good option for you.  Most banks that sell foreclosures are in a hurry to get rid of these homes, making them more willing to accept lower offers, consider different financing options, contribute to closing costs, etc.  Since most foreclosures are already vacant, there is no waiting for the current owners to pack up before you can move into your new home.

No matter what type of home you choose to buy, there are always arguments for and against every choice.  Though the market continues to get better, there is still a large amount of foreclosures going up every day, and a lot of inventory for a smart buyer to choose from.  As long as you do your research, and choose a great Realtor to help you in the process, you will land on top.

The Hill Wood Home Team works directly with local banks and has inside information on upcoming foreclosures before most anyone else in the area.  Call us at (678)371-6549 or visit our website www.HillWoodHomeTeam.com to request a free list of the best foreclosure deals in the area. 

 

 

Welcome!

As this is our very first blog post, we want to thank you for stopping by to check us out.  We are a Real Estate Team based out of Buford, GA which specializes in new construction, foreclosures, short sales, re-sales, land and commercial property.  We have close relationships with several local banks, which enable us to know about the best deals preparing to go on the market before most anyone else in the area.  Our passion is Real Estate and helping families to obtain the American Dream of Home Ownership, and that’s the reason we’re writing this blog.  We look forward to sharing all of our Real Estate knowledge with you, as well as the best new home deals in the North Metro Atlanta area.

Today’s Deal of the Day– Are you looking for a 4 sided brick, Master on the Main, 4 bedroom home with a Media room in the TOP rated Buford City School District?  Look no further!  This adorable brand new home is move in ready and listed at only $239,900!!