Fantastic Home For Sale in Alpharetta at 2280 Winthrope Way Drive

Lovely, well kept home with low maintenance cement siding in friendly pool community.  Two story entry and great room plus hardwoods on the main.  Master bedroom has sitting area and try ceiling.  Large, fenced, private backyard with deck.

2280 Winthrope Way Drive, Alpharetta, GA 30009
 

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Major Changes to FHA in 2013 To Effect Home Buyers

Big changes are coming in 2013 for FHA. The first change is that upfront MI (mortgage insurance) will go from 1.75% to 1.875% on January 1st. On a $200,000 loan, instead of $3500 being added to the loan amount for upfront MI the new amount will be $3750.

The second change is in regards to the annual MI. That goes from a current 1.25% to 1.35%. Again using the example of $200,000, the current monthly MI would be about $208.00 per month but go up to $225.00 per month after the change.

The third change relates to monthly MI as well. FHA has always allowed the borrower to cancel MI once their loan balance hit 78% of the original balance. No more! Monthly MI will remain for the life of the loan unless you refinance into a conventional loan. Under the current rule with normal amortization, the MIP would no longer be required in 9 years and 9 months. However, under the new rule, it would last for the entire 30 year term at about $225 per month using the $200,000 loan example.

Sometime in late January has been announced for the last two changes. If you are thinking of refinancing or buying a home and using FHA financing, it is very important to move on this immediately especially in regards to the lifetime of MI in your payment.

Do you have questions about FSH financing or buying a home?  Contact me and I will get the answers you need.  It’s still a great time to buy a house.  Knowledge is power.  Let me help you be powerful.

Is this the best time to buy a house in Marietta GA?

Lender Paid Mortgage Insurance

A few thoughts on why this is the best time to buy a house in Marietta, GA.

To start, right now rates are at 4.375% on a 30 year fixed and 3.75% on a 15 year. And, rates are in the high 4’s on an investment property.  Clearly, we are near historic lows on borrowing money.

Lender Paid Mortgage Insurance Is Making a Comeback

As the market tries to recover, lender paid mortgage insurance is making a comeback. Mortgage insurance is required when the borrower puts down less than 20%.  However, instead of adding the PMI (private mortgage insurance) to the payment, lends basically increase the interest rate to cover PMI. This is very good for those who put 10% down or less because the borrower paid mortgage insurance (where you have the separate mortgage insurance payment) is very costly in the mortgage payment. Adjusting the interest rate results in a lower overall mortgage payment and is also tax deductible since it is part of your interest.

To give you an idea of the current rate on a lender paid mortgage insurance product, a 30 year fixed mortgage with a 10% down payment including lender paid mortgage insurance is 4.75% on a 30 year fixed today! You can even get lender paid mortgage insurance with as little as 5% down.

So, to summarize, YES, now is a great time to be buying at homes for sale in Marietta, GA or anywhere else in the Atlanta real estate market.

If you are thinking about taking advantage of this great buying opportunity, please contact me and I can provide you with additional information and access to some great mortgage lenders.

Thank you to Sean Trombetti with Amstar Mortgage for this information.

Homes in Marietta GA for Sale

Marietta, Georgia is the largest city of Cobb County, and if you are looking for homes for sale, in Marietta, be assured that you will find a wide variety in different price ranges. After going through the prices of the properties, you will be sure to find at least one Marietta, GA home that will meet your requirements and fit your budget.

Subdivisions are available for every home buyer: from first time homebuyers to those looking for upscale homes as well.  You will also have your choice of new construction or resale in town homes, condos and single family homes.

Marietta is full of historical significance and charm; this is one of the many attractions for homebuyers.  With all of the choices available and the variety of locations, amenities and schools, the first thing you need to do is hire an experienced real estate agent who knows the nuances of the real estate business in the Marietta, Georgia area.  Even if a homebuyer is clear about his/her preferred location, budget and other requirements, a professional Realtor will help them focus their search and save lots of time and energy.

Marietta offers many subdivisions that are close to shopping, entertainment and dining.  Or, if you prefer to be a bit more isolated, we have options like that too.

Marietta is also well known for its schools of excellence, which include Walton High School, Pope High School, Marietta High School, Lassiter High School as well as Magnet schools such as Wheeler and Pebblebrook High Schools.

Note that even if you do not have school age children, it is always a good idea to buy a home in an area with good schools.  Good schools always generate demand which will  help you with resale value in future.

Home Buyer Tax Credit Extended and Expanded

President Obama signed the bill extending and expanding the home buyer tax credit.  The credit was part of a bill that included more aid for jobless workers and broadened tax breaks for businesses. The measure passed the House by a vote of 403 to 12, one day after it was unanimously approved by the Senate.

HOME BUYER CREDIT EXTENDED

The bill also extends the $8,000 tax credit for first-time home buyers until April 30, 2010.  The credit was previously set to expire on November 30, 2009.  The new law expands the credit to cover more affluent buyers. The bill will raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers. [Read more…]

$8000 Federal Tax Credit For First Time Home Buyers – 100 Day Countdown

Back in the spring, Congress passed a federal tax credit for first time home buyers (or any one not having owned a home in the past three years) as part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation.

One of the key points of this credit was that the home had to be purchased (i.e. closed on) by November 30, 2009.  We have now hit the 100 day countdown to that date.
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2 Bedroom Condo For Sale at 5061 Avalon Drive in Alpharetta GA

5061 Avalon Drive, Alpharetta GA 30005For more information or to schedule a tour of the home, please contact Barry Wolfert at 770-656-7551 or email me.

5061 Avalon Drive, Alpharetta, GA 30005

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Great location, excellent condition and an affordable price!  This is a fantastic condo with 2 large bedrooms and 2 full bathrooms.  Located in Alpharetta in Fulton County in the Camden Pond complex off Old Milton Parkway.

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Luxury Townhome for Sale in Smyrna, GA in Old Atlanta Station

Old Atlanta Station - Smyrna GA

For more information or to schedule a tour of the home, please contact Barry Wolfert at 770-656-7551 or email me.

3955 Old Atlanta Station Court, Smyrna, GA 30080

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Great location, excellent condition and an affordable price!  This is a fantastic townhome with 3 large bedrooms and 3.5 bathrooms.  Located in the city of  Smyrna in Cobb County in the Old Atlanta Station complex off Atlanta Road.

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National Pending Home Sales Rise for 3rd Month In A Row

Contracts signed show a big jump, especially in the Northeast, another indicator the market may be bottoming

Low interest rates and an $8,000 tax credit for first-time home buyers helped push pending home sales up for the third month in a row, another indication that the decline in the real estate market may be stabilizing, the National Association of Realtors reported on June 2.

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Sales of Existing Homes Rises 5.1% in Feb 2009

The National Association of Realtors said Wednesday said its seasonally adjusted index of pending sales for previously occupied homes rose 2.1 percent – in line with expectations – to 82.1 in February from January’s record low of 80.4. An index that tracks signed contracts to purchase previously occupied homes rose in February from a record low a month earlier as buyers took advantage of deeply discounted prices and low interest rates.

Typically there is a one- to two-month lag between a contract and a done deal, so the index is a barometer for future home sales. Because of falling home prices and mortgage rates, homeownership is more affordable than it’s been since at least 1970, the trade group said. Hopes have been growing that home sales, while still severely depressed, may be finally showing signs of life. Sales of existing home sales rose 5.1 percent in February, the largest increase in nearly six years. [Read more…]