May 2012

Found 2 blog entries for May 2012.

The Hunt

We recently represented a client that was looking for a second home on Lake Lanier. Our search yielded a slew of homes that homeowners had hap-hazardously added on to over the years, resulting in what seemed like a box with random boxes awkwardly attached. In many cases ceilings were less than six feet, in others we had to walk through a bedroom to get to another bedroom…. What were they thinking? But one day we saw a new listing appear. On first glance it seemed to have all the right features, on the water with 13’ of water at the end of a permitted single slip covered dock, with a boat lift. On top of that it had a gentle slope from the house to the dock. All this and Fannie Mae had it priced at $151,900. This was a deal so we decided to…
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You never know what the Government will do. This was the case on a recent HUD Foreclosure that we purchased. Interestingly enough it was the exact same floor plan of one we had purchased and resold a few months earlier. It also was sin Alpharetta and is posted on our Blog under “Flip This House”.

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We had been watching this home for sometime. It was originally offered at $110, 000, as shown below. Having just purchase the exact same house several months earlier we knew what we could resell it for and thought we had a good idea what we could purchase it for. One thing to remember about HUD is that once you make an offer on the property, they respond by either accepting the offer, or by declining it. The neat thing is that when declined they always tell

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