Emory Homes Blog

Just Listed! 1010 Scott Boulevard Decatur, GA 30030
January 11th, 2010 1:44 PM
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$975.00
1010 Scott Boulevard

Decatur, GA 30030



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

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.

Sharon Kolb
Atlanta Decatur Homes
4043738924
www.emorydecaturhomes.com



 
  Visit this listing here

Posted in:General
Posted by Sharon Kolb on January 11th, 2010 1:44 PMPost a Comment

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January 22nd, 2010 9:38 AM

Buyers in 2010 can take advantage of some great tax credits -- the extension of the $8,000 tax credit for the first-time homeowner, and the $6,500 tax credit for homeowners who have lived in their home for 5 of the past 8 years  when they purchase a new primary residence.  These programs require that you must have a contract by April 30, 2010, and close by June 30, 2010. 

There are also some new changes that will make it easier for Buyers to understand the Good Faith Estimate (provided by your Lender) and the Closing Statement.  Lenders are now required to use a uniform 3-page document, which must be provided within 72-hours after you apply for a loan.  The new Good Faith Estimate requires lenders to disclose features that could drive up your costs.  The new rules will make it more difficult for lenders to change the cost of items that are listed on the GFE, and the form includes a line-by-line comparison, making it easy to identify any change in costs.  These new guidelines will take effect in January 2010.

FHA Announces Policy Changes:

MIP (Mortgage Insurance Premium)  will be increased to build up FHA capital reserves.

  • FHS plans to raise the up-front MIP from 1.75% to 2.25% and to request legislative authority to increase the maximum annual MIP that the FHA can charge.
  • If this authority is granted, then the 2nd step will be to shift some of the premium increase from the up-front MIP to the annual MIP.
  • The initial up-front increase will go into effect in the spring.

Note:  .5% increase adds $1,000 on a $200,000 loan.

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 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%.

  • This change will be posted in the Federal Register in February, and after a notice and comment period, would go into effect in early summer.

 

 

 


Posted in:General
Posted by Sharon Kolb on January 22nd, 2010 9:38 AMLeave a Comment

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1)  Less Competition - Most folks wait until Spring & Summer to market their home.

2)  January is the Biggest Transfer Month - More Corporate moves happen during January

3)  Timing - Putting Your Home on the Market earlier means you may be able to move sooner.

4)  More Time to Get a Higher Price - less sense of urgency

5)  Great Time to Shop - If your home sells quickly, you will have more time to shop for the next home.

6)  The Market - In the past few years, homes have sold higher in the early part of the year.  The $8,000 First-Time Tax Credit expires at the end of April (close by the end of June), and we are experiencing all-time low interest rates.


Posted in:General
Posted by Sharon Kolb on January 4th, 2010 2:02 PMLeave a Comment

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