NorthAtlantaRealEstateReview.com

Many real estate markets are experiencing declining prices. In these times, it is common for the amount owed on a loan to exceed the value of the property itself. If the homeowners are unable to make their monthly mortgage payment, the potential for a default on the loan or foreclosure of the property increases.

Short sales are becoming an increasingly popular trend as the foreclosure rates continue to rise across the nation. “Short sales” is a term used to describe a situation in which the lender agrees to sell the property below the original appraisal rate to avoid foreclosure, in the case that the homeowner is at risk for defaulting on the loan. Many lenders do not easily agree to a short sale; however circumstances as the loss of a job or the death of a wage-earning spouse may make some more open to the idea.

Once a property is sold as a short sale, a portion of the original loan’s value is earned, the homeowner avoids the stress of foreclosure, and the new owner gets a property at a good price. In the case a short sale doesn’t work, the property does go into foreclosure.

Depending on how the lender reports the outcome of the short sale, the homeowner’s credit may be impacted. Some lenders report a partial loan repayment, which does not negatively impact the credit of the borrowers. Other lenders, however, can report the sale as “settled,” which may cause a significant negative impact on the borrower’s credit. Also, the portion of the loan forgiven can be counted as taxable income by the IRS.

1. Price and Approval
The first step is to decide on a price that is affordable and have it approved by a lender of your choice. Many prospective buyers have faced disappointment because their loan was not approved. Do not over estimate your loan request and be sure to take the current interest rate into consideration.

2. Look for Homes in your Price Range
When thinking about prices, allow yourself a 10% allowance above and below your desired price. An example is setting a price at $300,000 allowing your range to be from $270,000 to $300,000. This is important to do because:

a) Exceeding your budget on a whim may give you difficulty in payments later down the road, and
b) If you purchase a cheap home, you do not want to regret the purchase if you do find something wrong with it. You will likely get less money if you choose to resell the house.

3. Get Advice on the Area
If you have children, they are more than likely going to be a factor in your decision making. Not only would you want other children around, but you may also want excellent schools near by and a home in a low crime area.

4. Decide in advance on your type of home.
It’s important to determine early on what kind of home you would like, whether it is a condo, loft or even a conventional home. Do you want a yard? How many bedrooms and bathrooms do you ideally want? Once you’ve made this decision it can help refine some of your search criteria.

5. Consider the geography: your workplace and how far you have to commute.
You may want to look at maps to get an idea of where your house will be in relation to the main roads and cities, as well as public transportation or if you need to rely on your car.

6. What are the additional costs: home insurance, taxes, average power bills? How about any immediate moving expenses - have you put these aside?

7. Make sure you know everything included in the sale.
Even if your new home looks amazing, you will want to be sure that items such as lighting fixtures and kitchen equipment are or are not included. It will be additional stress if these details are not solidified before your move.
If you utilize these tips, you will find yourself satisfied with your Atlanta real estate choice. Many people either look for what matches their price range or preference, without taking into consideration the other factor. Some of these houses are foreclosed because the 5% interest rate had increased to 12% over a few years, increasing their monthly payments.

Once you have taken these factors into consideration, it is time to start your search. Where you begin your search depends on your needs. Buckhead and East Atlanta are great for young families as there are many good schools in the area and several family-oriented groups. Not only will your children get excellent education, but they will also be able to make friends around the neighborhood. Transportation to the main parts of the city is also great from this area and many young parents find that their needs are met in this neighborhood.

If you are looking for older and more elegant properties, Chastain Park is the place to begin your search. There are also many condos available in this area. The esteemed Club Chastain and the golf courses in this area is a huge draw to executives who have chosen to move here, and the public schooling in this area is very good.

Atlanta was originally inhabited by Creek and Cherokee Native Americans, but this changed in 1823 when Atlanta was opened to white settlement. Realizing the need to trade with other parts of the country, the Georgia General Assembly began construction on the Western and Atlantic Railroad line which connected the city to the Midwest in 1836.Once the American Civil War began to take place, Atlanta became an important military hub and was constantly targeted by the Union in several battles. When the war ended, Atlanta was rebuilt and officially named the Capital of Georgia in 1868. As the turn of the century drew closer, the city became an ethnic and cultural center in the south. Even though racial tension was prevalent in this part of the country, human rights were prevalent in this area, setting the stage for social reform.

Atlanta’s lively past has made for a vibrant present. The cultural and traditional roots of this city open it up to a number of great foods and eateries, including The Varsity, the largest drive-in restaurant in the world. It spans over two acres and males approximately two miles of hot dogs a day. Sports fans will be particularly delighted with the notable sports teams here that include the Atlanta Braves, Falcons and Hawks. The music scene here is very lively, and this city is home to artists such as the Black Crowes, Ludacris, and the Indigo Girls.

The value of Chastain Park real estate is increasing along with the number of residents in this area. Its proximity to Buckhead and its many intrinsic features are parts of the reason why many are continuing to invest in this area. Each month, a number of condominiums are being purchased, along with the converted apartment complexes. You are sure to get a great deal if you decide to buy now, as this is a temporal opportunity. The value of this place is so high that many buyers purchase properties without a second thought. There are also many residents who are selling their homes, including retirees who are looking to live in the suburbs. Many properties in this area are being renovated in addition to new developments sprouting up, especially around Roswell Road.

Chastain Park can fall under two jurisdictions: the City of Sandy Springs, the northernmost part of this neighborhood, and the City of Atlanta, which all remaining areas. Knowing where your Chastain Park residence will be located is important, especially in regards to property taxes.

Upon closer examination of this area, you will quickly realize why it is quickly gaining popularity. There are several excellent public schools in the area which include the Sarah Smith and Jackson elementary schools, and Heards Ferry. Outdoor amenities include a golf course, Olympic-sized swimming pool, an equestrian centre with a horse park, and an outdoor amphitheatre that can hold 6,000 people. The main recreational center here is a park that spans over 268 acres of land.

A premium home in Chastain Park often includes a gorgeous master bedroom with a sitting room and cable TV, in addition to a stained library and fireplace, gourmet kitchen stocked with top of the line equipment. Interior design features include high ceilings, two-story foyers, attic stairs, wall-to-wall carpeting among other things. Many exterior features include front porches, irrigation systems, beautiful landscaping, a private backyard, and thermal pane windows. Of course, the garages can fit three cars, and have side entrances into the house.

Chastain Park has grown from just a developing neighborhood in the 1900s to its current state as a dream living spot, and many of the homes here exceed $1,000,000. There are many family homes available for a reasonable price in this area, and can cater to any budget range.

Those interested can visit this home on Hosea L. Williams Drive. This home has four large chambers, three luxurious bathrooms with walls of glass mosaic tile, and energy efficient systems installed all over the home. Other aspects of this meticulously crafted designed include the Ycynene insulation, paperless sheetrock, and Rinnai tankless water heaters. Many design features of this home are environmentally conscious; in fact, UDD will introduce Eco-Cem and Coco Palm floring to the Atlanta real estate market. UDD will be partnering with a number of vendors to create a buzz for this brand, as well as publishing literature about these new products.

There is a ton of space in this house. There is Eco-Cem tiled tub to soak in, or relax on the European balcony. Closet space will never be a problem and the second floor laundry room will make washing less of a hassle.

The technological and mechanical of this home include high-efficiency cell insulation, a three filter HVAC system, tankless hot water heaters and sound proofing. This contemporary home is almost maintenance free. This home has a solid design, and the over-sized yet simple spaces make its form a key to this home.

The design of this property strives to salvage traditional design while appreciating the architectural design in the city. Our team strives to implement innovative technology and structure with each design to make it both beautiful and well-functioning.

To search current listings, the newspaper is always available, and to use the internet, many sites do not require that you register. If using the internet, it is possible to search through preference of property, location, and cost. It is easy to access information like this immediately through Atlanta Realtors.

Atlanta Real Estate strives to give buyers and sellers deals better than those in previous years. Also, Atlanta Realtors will work towards finding homes that suit your preferences, whether you want to live by a golf course, or are looking for something in a particular price range. Estates are as varied as the preferences of home-hunters, so finding help to sift through all of them is particularly exciting.

If you are looking to rebuild or restructure a property, Atlanta Home Builders is the place to go, and they are willing to work with you. Many of the Home Builders in Atlanta are affiliated with Atlanta Realtors and Atlanta Real Estate promising homebuyers the best deals for any plans they may have with their new properties while securing the best possible price.

The market trends of the real estate market in Atlanta are not as strong in 2005, but despite this, there are many great deals on the market, especially in the areas of North Cobb, where Acworth and Kennesey are located. Other popular locations are North Fulton, Alpharetta, Roswell, and South Forsyth. Instead of a sellers’ market, the buyers’ market is particularly strong around Fulton County, as well as Buckhead and Sandy Springs. Other places are becoming increasingly popular as they offer many possibilities for its buyers. These areas include Edgewood, Kirkwood, Candle Park, and East Atlanta.