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Just Listed! 544 Daniel Ave Decatur, GA 30032

March 9th, 2010 7:06 PM

$160,000.00
544 Daniel Ave

Decatur, GA 30032

Beds: 3	Rooms: 0
Full Baths: 2	Sq. Ft.: 0
Garage: 0	Built: 1950

This is a new listing that
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interested in. Visit this
listing online to see more
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If you have any questions
about this property or
require more information,
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Katie Mitchell
RE/MAX Greater Atlanta
6789420630
www.katiemitchellrealtor.com

Visit this listing here

Posted by Katie Mitchell on March 9th, 2010 7:06 PMPost a Comment (0)

Buying in Today's Market

March 4th, 2010 11:54 AM

Great article by David Back about buying in today's market and why home ownership is still a great long-term investment! Remember time is ticking to be able to qualify for the Federal Tax Credit. Contracts must be finalized before April 30th to qualify!

http://finishrich.com/pdf/news/1267717482.pdf

Posted by Katie Mitchell on March 4th, 2010 11:54 AMPost a Comment (0)

Just Listed! 869 LAKEVIEW RD Grayson, GA 30017

February 25th, 2010 7:18 PM

$190,000.00
869 LAKEVIEW RD

Grayson, GA 30017

Beds: 4	Rooms: 0
Full Baths: 3	Sq. Ft.: 0
Garage: 2	Built: 1989

Updated & Move-in Ready in Grayson!

This is a new listing that
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interested in. Visit this
listing online to see more
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If you have any questions
about this property or
require more information,
please feel free to call.

Katie Mitchell
RE/MAX Greater Atlanta
6789420630
www.katiemitchellrealtor.com

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Posted by Katie Mitchell on February 25th, 2010 7:18 PMPost a Comment (0)

Just Listed! 5605 Ashewoode Downs Dr. Alpharetta, GA 30005

February 19th, 2010 10:37 AM

$340,000.00
5605 Ashewoode Downs Dr.

Alpharetta, GA 30005

Beds: 4	Rooms: 0
Full Baths: 3	Sq. Ft.: 3061
Garage: 2	Built: 1992

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.

If you have any questions
about this property or
require more information,
please feel free to call.

Katie Mitchell
RE/MAX Greater Atlanta
6789420630
www.katiemitchellrealtor.com

Visit this listing here

Posted by Katie Mitchell on February 19th, 2010 10:37 AMPost a Comment (0)

FHA Changes Coming Soon... tougher restrictions!

January 21st, 2010 8:31 AM

FHA Changes will greatly affect first time homebuyers. If you are thinking of purchasing a new home the deadline of tax credit in April isn't the only reason you should buy now... new restrictions will make obtaining an FHA loan a little more difficult!

Here are the details:

Up front Mortgage Insurance will increase from 1.75% of the loan amount to 2.25% of the loan amount (1/2% increase)
Minimum of 580 FICO for 3.5% down. Sub 580 FICO will have to put down at least 10% (BY...Bank of America is one of the VERY few that are doing sub 620 FICO's now!)
Seller contributions are to be reduced from 6% to 3%

Please read the HUD press release below that spells out the changes and the rough timeline for implementation:

HUD No.10-016
Melanie Roussell
(202) 708-0980

FOR RELEASE
Wednesday
January 20, 2010

FHA ANNOUNCES POLICY CHANGES TO ADDRESS RISK AND STRENGTHEN FINANCES

New Measures Will Help FHA Better Manage Risk, While Maintaining Support for the Housing Market and Access for Underserved Communities

WASHINGTON – Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities. The changes announced today are the latest in a series of changes Stevens has enacted in order to better position the FHA to manage its risk while continuing to support the nation’s housing market recovery.

The FHA will propose to take the following steps: increase the mortgage insurance premium (MIP); update the combination of FICO scores and down payments for new borrowers; reduce seller concessions to three percent, from six percent; and implement a series of significant measures aimed at increasing lender enforcement. U.S. Housing and Urban Development Secretary Shaun Donovan previewed the changes in December of last year, noting that the FHA would announce additional details before the end of January.

“Striking the right balance between managing the FHA’s risk, continuing to provide access to underserved communities, and supporting the nation’s economic recovery is critically important,” said Commissioner Stevens. “When combined with the risk management measures announced in September of last year, these changes are among the most significant steps to address risk in the agency’s history. Additionally, by continuing to provide affordable, responsible mortgage products, FHA will support the housing market’s recovery. Importantly, FHA will remain the largest source of home purchase financing for underserved communities.”

Announced FHA Policy Changes:

Mortgage insurance premium (MIP) will be increased to build up capital reserves and bring back private lending
- The first step will be to raise the up-front MIP by 50 bps to 2.25% and request legislative authority to increase the maximum annual MIP that the FHA can charge.
- If this authority is granted, then the second step will be to shift some of the premium increase from the up-front MIP to the annual MIP.
- This shift will allow for the capital reserves to increase with less impact to the consumer, because the annual MIP is paid over the life of the loan instead of at the time of closing
- The initial up-front increase is included in a Mortgagee Letter to be released tomorrow, January 21st, and will go into effect in the spring.
Update the combination of FICO scores and down payments for new borrowers.
- New borrowers will now be required to have a minimum FICO score of 580 to qualify for FHA's 3.5% down payment program. New borrowers with less than a 580 FICO score will be required to put down at least 10%.
- This allows the FHA to better balance its risk and continue to provide access for those borrowers who have historically performed well.
- This change will be posted in the Federal Register in February and, after a notice and comment period, would go into effect in the early summer.
Reduce allowable seller concessions from 6% to 3%
- The current level exposes the FHA to excess risk by creating incentives to inflate appraised value. This change will bring FHA into conformity with industry standards on seller concessions.
- This change will be posted in the Federal Register in February, and after a notice and comment period, would go into effect in the early summer.
Increase enforcement on FHA lenders
- Publicly report lender performance rankings to complement currently available Neighborhood Watch data - Will be available on the HUD website on February 1.
  - This is an operational change to make information more user-friendly and hold lenders more accountable; it does not require new regulatory action as Neighborhood Watch data is currently publicly available.
- Enhance monitoring of lender performance and compliance with FHA guidelines and standards.
  - Implement Credit Watch termination through lender underwriting ID in addition to originating ID.
  - This change is included in a Mortgagee Letter to be released tomorrow, January 21st, and is effective immediately.
- Implement statutory authority through regulation of section 256 of the National Housing Act to enforce indemnification provisions for lenders using delegated insuring process
  - Specifications of this change will be posted in March, and after a notice and comment period, would go into effect in early summer.
- HUD is pursuing legislative authority to increase enforcement on FHA lenders. Specific authority includes:
  - Amendment of section 256 of the National Housing Act to apply indemnification provisions to all Direct Endorsement lenders. This would require all approved mortgagees to assume liability for all of the loans that they originate and underwrite
  - Legislative authority permitting HUD maximum flexibility to establish separate "areas" for purposes of review and termination under the Credit Watch initiative. This would provide authority to withdraw originating and underwriting approval for a lender nationwide on the basis of the performance of its regional branches

In addition to the changes proposed today, the FHA is continuing to review its overall response to housing market conditions, and continuing to evaluate its mortgage insurance underwriting standards and its measures to help distressed and underwater borrowers through FHA/HAMP and other FHA initiatives going forward.

###

HUD is the nation's housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development ad enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

Posted by Katie Mitchell on January 21st, 2010 8:31 AMPost a Comment (0)

Sellers- Why You Should Consider Listing Early in 2010...

January 20th, 2010 10:53 AM

Seller's Should Consider Listing Homes in Early 2010
to Take Advantage of the Tax Credit Deadline

Listing a home in the dead of winter might not be the industry norm, but some experts think that making the decision to wait until late spring to list the property could be a mistake.

Government incentives are likely to have a significant impact on real estate sales in 2010, with many buyers determined to sign a contract before the April 30 tax credit deadline. Considering the time many buyers take to find the right home, it’s reasonable to expect that potential homebuyers hoping to take advantage of the tax credit incentives will start househunting in the next few weeks.

“This year, we're anticipating sales will peak earlier,” says Nicole Hall, editor in chief of Lendingtree.com, an online mortgage comparison service. “The best time to get a house on the market will be February or early March, and maybe even earlier if you want to avoid competition.”

Sellers who place their home on the market in the first quarter will be poised to benefit from the influx of potential buyers. What does this mean for you? Now is the time to get in touch with prospects who have been on the fence about the best time to catch the eye of potential buyers; the best time is now.

Portions of this article were sourced from Forbes.com, 12/24/2009.

Posted by Katie Mitchell on January 20th, 2010 10:53 AMPost a Comment (0)

Just Listed! 1407 Wingate Way Atlanta, GA 30350

December 16th, 2009 9:08 AM

$33,000.00
1407 Wingate Way

Atlanta, GA 30350

Beds: 1	Rooms: 0
Full Baths: 1	Sq. Ft.: 0
Garage: 0	Built: 1985

2nd Story Unit in Great Condition! Gated Community with clubhouse, excercise facility, swim & tennis. Bright, neutral interior. Close to 400, Marta, restaurants & shopping.

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
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images, and much more.

If you have any questions
about this property or
require more information,
please feel free to call.

Katie Mitchell
RE/MAX Greater Atlanta
6789420630
www.katiemitchellrealtor.com

Visit this listing here

Posted by Katie Mitchell on December 16th, 2009 9:08 AMPost a Comment (0)

Just Listed! 3925 Hodgdon Corners Dr. Lithonia, GA 30038

December 16th, 2009 9:07 AM

$170,000.00
3925 Hodgdon Corners Dr.

Lithonia, GA 30038

Beds: 4	Rooms: 0
Full Baths: 2	Sq. Ft.: 0
Garage: 2	Built: 2003

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.

If you have any questions
about this property or
require more information,
please feel free to call.

Katie Mitchell
RE/MAX Greater Atlanta
6789420630
www.katiemitchellrealtor.com

Visit this listing here

Posted by Katie Mitchell on December 16th, 2009 9:07 AMPost a Comment (0)

Just Listed! 2641 CARNOT CT Duluth, GA 30097

December 16th, 2009 9:06 AM

$295,000.00
2641 CARNOT CT

Duluth, GA 30097

Beds: 6	Rooms: 0
Full Baths: 3	Sq. Ft.: 0
Garage: 2	Built: 2007

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.

If you have any questions
about this property or
require more information,
please feel free to call.

Katie Mitchell
RE/MAX Greater Atlanta
6789420630
www.katiemitchellrealtor.com

Visit this listing here

Posted by Katie Mitchell on December 16th, 2009 9:06 AMPost a Comment (0)

Just Listed! 519 Michael Circle Monroe, GA 30655

December 16th, 2009 9:05 AM

$115,500.00
519 Michael Circle

Monroe, GA 30655

Beds: 3	Rooms: 0
Full Baths: 2	Sq. Ft.: 0
Garage: 2	Built: 2002

BEAUTIFULLY REDONE SPLIT LEVEL IN QUIET N'HOOD! NEW CARPET, PAINT, APPLIANCES & LANDSCAPING. BRIGHT KIT. W/PANTRY, AMPLE CABINETS & EATING AREA OVERLOOKS FPLC IN FAMILY RM. LRG. MASTER BEDROOM HAS WALK-IN CLOSET & PRIVATE BATH. 1YR HOME WARRANTY PROVIDED. MUST SEE TODAY!

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.

If you have any questions
about this property or
require more information,
please feel free to call.

Katie Mitchell
RE/MAX Greater Atlanta
6789420630
www.katiemitchellrealtor.com

Visit this listing here

Posted by Katie Mitchell on December 16th, 2009 9:05 AMPost a Comment (0)