Legacy Lake, Villa Rica - Announcing a price reduction on 152 Legacy Drive, an approx. 3,000 sq. ft., 3 bath, 4 bdrm, 1 1/2 story "4 BR Plus Bonus Room/Loft Perfect for In Law/Teen". Now $290,000 USD - New Construction Lake Front.
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Creekwood Place, Acworth - Cherokee County - Announcing a price reduction on 131 Creekwood Trail, a 2 bath, 3 bdrm 2 story "Traditional Brick & Concrete Siding", close to I-75, I-575 and Hwy 92. Now 
MLS® $190,000 USD - Reduced!.
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483 Kennesaw Avenue, Marietta, GA 30060 Just off of the Historic Marietta Square
When/Where: 483 Kennesaw Avenue, Marietta, GA 30060 (3PM-5 PM)
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After reading article after article about the current mortgage rates and about many potential buyers who are still sitting on the fence about buying a home, I was inspired to write this blog post.
Although the media does a good job of informing us of the fed rate cuts and daily mortgage rates they have also unfortunately, done a good job of focusing on the negative about the real estate industry. This in turn, affects everyones perception of buying and selling their homes in this market.
Yes, we have had a sub-prime mortgage crunch over the past several months and it looks like as if it will get worse by the end of the year. Many buyers were sold these sub-prime adjustable rate mortgages and/or 100% interest only mortgages several years back are now set to readjust. These readjustments to the buyer's interest rate will hike their payment sometimes hundreds of dollars per month. Many homeowners will not be able to afford their new house payment thus considering selling, short sale or worse…foreclosure. That is one of the reasons why our Atlanta inventory is so high.
Yes, this all sounds horrible but keep in mind that sub-prime mortgages are held by less than 10% of homeowners. Most sub-prime loans will never go into foreclosure and the foreclosure rate on prime loans is only 0.6 percent.
First, I would like to address that there are options for homeowners in this situation. Did you know that you can call your “loss mitigation” department with your lender or bank? I would always recommend calling your lender to discuss what options may be available for you. They may be able to do a “work out” where they agree to lock your current payment for a specified period of time or lock your interest rate. You can also consider a “short sale“ where the bank agrees to take less than you currently owe on your mortgage. Choose a REALTOR who is experienced in “short sales” to assist you in negotiating with your lender. I previously worked as a “loss mitigater” and familiar with this process. Just do “something” versus “nothing” if you are in this position.
Second, keep in mind that because we have so much inventory and reduced prices on homes in the Atlanta area, this is a perfect time for buyers to be looking for a new home. No, you may not get top dollar for your current home if you have one to sell first, but just think of the deals available on the other side of the transaction when you go to purchase. It will all wash out in the end.
And how about you first time home buyers. There has never been a better time to purchase. It is a strong “buyers market” when there is a lot of inventory, and interest rates are at historical lows hovering around 6% or lower.
What are you waiting for?
Historic Marietta Square, Marietta - Announcing a NEW LISTING 483 Kennesaw Avenue, an approx. 2,900 sq. ft., 4 bdrm, 3 bath, 2 story "Re-Construction of two historic homes" circa 1915 and 1930. Now $500,000 USD - .
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Great Location convenient to I-575
• 2 bath, 3 bdrm 2 story "Traditional Brick & Concrete Siding" - MLS® $200,000 USD
Creekwood Place, Acworth - Cherokee County - Fantastic home on cul-de-sac lot in Creekwood Place Subdivision. This less than 3 year old home welcomes guests into a large open foyer with hardwood floors leading into the great room with vaulted ceilings and fireplace. The bright open kitchen features black appliances and stained cabinets with a view to the family room with a sunny breakfast area with view of private back deck and backyard. The upper level features a large open loft area leading to the master bedroom and two secondary bedrooms. The large master bedroom features a trey ceiling and master bath hosts separate his/her sinks, separate shower with garden tub and walk in closet. Great location only minutes to I-575 and Hwy.92 convenient to shopping and dining.
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Seven Hills, Dallas - Announcing a price reduction on 185 Calming Water Trail, a 5,754 sq. ft., 4 bath, 5 bdrm 2 story "Brick & Hardi Plank w/ Wrap Around Porch". Now MLS® $389,900 USD - Lease/Purchase Available.
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Seven Hills, Dallas - Announcing a price reduction on 185 Calming Water Trail, a 5,754 sq. ft., 4 bath, 5 bdrm 2 story "Brick & Hardi Plank w/ Wrap Around Porch". Now MLS® $389,900 USD - Lease/Purchase Available. OPEN HOUSE SUNDAY MARCH 2 FROM( 1-3PM)
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Almost $200K in Upgrades,Media Room
• 5 bath, 5 bdrm single story - MLS® $550,000 - Luxury Living in W. Cobb
Carriage Gates, Kennesaw - Situated on large professionally landscaped lot and located in prestigious Carriage Gates Subdivision in West Cobb. This exquisite custom home welcomes guests into a large open foyer with hardwood floors flanked by a Formal Living Room and Dining Room with pressed tin ceiling and grand chandelier. The chef's kitchen, large and bright, features granite countertops, double stainless steel ovens, dishwasher, built in desk which leads into a warm keeping room with double sided fireplace. The family room is appointed with floor to ceiling windows and masonry fireplace, built-in bookcases, custom mantle with hidden speakers already wired for your flat screen TV. French door leads to large back deck overlooking the park-like fenced in backyard.
Hardwood and wrought iron staircase leads to the second level where you will find the luxury master retreat featuring a custom media armoire. The spa like bath features Travertine tile floors and double shower encased in Travertine tile. Beautiful Jacuzzi tub, separate his/her vanities and you will not believe this enormous custom master closet with oval accent window. Three additional bedrooms and two baths complete the upper level with a great “split bedroom” floor plan. All bedrooms and hallway have new carpet and fresh paint throughout entire home.
The professionally finished terrace level offers a custom bar with refrigerator, built in televisions and pendant lighting, professionally installed media room with seating and top of the line projection equipment. Open bonus room offers many options for entertaining including the big screen television which stays with property. All electronics, wiring, media, etc. stay in the home. Terrace level also offers a private outdoor kitchen area perfect for grilling with built in counters and seating perfect for entertaining.
Great location within walking distance to Schools, Shopping and Dining. Only minutes to
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SEVEN HILLS RESALE, 5 BEDROOMS, 4 BATH (2-4PM) $294,900
When/Where: 85 CALMING WATER TRAIL, DALLAS, GA 30132
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HOME ON 6 ACRES WITH LAKE JUST OVER THE COBB/PAULDING LINE
FROM 1-3PM
When/Where: 42 SPRUCE PATH, DALLAS, GA 30157
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LAKE VIEW PROPERTY JUST OVER THE COBB/PAULDING LINE (1-3PM )
When/Where: 1055 POPLAR RD. DALLAS, GA 30157
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Seven Hills, Dallas - We invite everyone to visit our open house at 185 Calming Water Trail on February 17 from 2:00 AM to 4:00 AM.
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Poplar Springs, Dallas - We invite everyone to visit our open house at 42 Spruce Path on February 10 from 1:00 AM to 3:00 AM.
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Family Owned property for over 30 years
• 3 bdrm single story - MLS® $375,000 - 6 Acres with Lake
Poplar Springs, Dallas - TAKE A STEP BACK IN TIME ON THIS PICTURESQUE 6 ACRES OVERLOOKING 2 ACRE FISHING LAKE JUST OVER THE COBB/PAULDING LINE.
WELL BUILT 4 SIDES BRICK RANCH WITH PARTIALLY FINISHED BASEMENT SITUATED ON BEAUTIFUL LEVEL LAND. LARGE FAMILY ROOM WITH FIREPLACE, DINING ROOM, EAT IN KITCHEN WITH BREAKFAST AREA, 3 BEDROOMS ON MAIN LEVEL, PLUS BONUS ROOM IN BASEMENT WHICH FEATURES A BEAUTIFUL WOOD BURNING STOVE FIREPLACE WITH STONE ACCENT SURROUND. OWNER HAS NOT TURNED ON HEAT ALL WINTER!
BOAT/UTILITY DOOR ON BASEMENT LEVEL PERFECT FOR BOAT, 4 WHEELERS, ETC. PRIVATE WATER SOURCE WITH 300 FT. WELL, OUTBUILDING FOR TRACTOR STORAGE, ETC. ROCKING CHAIR FRONT PORCH WITH SERENE VIEWS OF FRUIT TREES, MAGNOLIAS, GRAPE VINES AND DON‘T FORGET THE LAKE! ALL WITHIN MINUTES TO UPSCALE SHOPPING/DINING.
LAND IS ALSO A GOOD FIT FOR BUILDING LOTS, CUSTOM ESTATE, OR SMALL ENCLAVE OF UPSCALE HOMES ON LAKE. CALL HEATHER FOR COPY OF SURVEY.
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