Tagged : foreclosure

Found 10 blog entries tagged as "foreclosure".

I recently heard a story of one tough contractor.  He was apparently working off of a ladder in the home of a client, installing some framing at or near the wall and ceiling line.  As you might expect he was using his Paslode nailer to secure a 2x10 to the wall and the homeowner walks in.  It was at this split second that the nail left the Paslode gun and prior to entering the 2x10 entered the finger of the contractor; firmly securing his finger to the 2x10 and wall.  But this was one tough guy; he turns to the homeowner and listens to them while being nailed to the wall.  Once the homeowner finished talking the contractor removed his hammer and pulled the nail from the 2x10 and from his finger, and let a scream that could be heard from miles away.  This

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Once a common practice at closings, buyers today rarely obtain a survey of the property they are purchasing.   Before, if a buyer needed a loan to purchase property, their lender required that a new survey is obtained in order to proceed with the closing.  However, some time ago, title insurance companies created a lenders title insurance policy that protected the lender against any claims that may result from any boundary line dispute or other matter that would be disclosed by a current survey. Since their collateral was already protected by this insurance policy, lenders no longer required buyers to obtain a survey. 

Thereafter, title insurance companies created a new owners title insurance policy that offered “some” protection to the buyer for

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With the opportunities that exist today to purchase a home at a price that is significantly under market, many people are starting to consider investing in real estate. Whether an experienced investor or first timer, adhering to certain guidelines will increase the likelihood that your investment objectives are achieved. Here are several guidelines which, if utilized, will help you in making the right decisions.

Determine Your Purpose for Buying
This seems so simple, but with the number of good values out there it is possible to allow the value of a purchase to outweigh the purpose associated with buying it. For example suppose that you have funds available in your 401K or IRA and want to increase the return you are currently getting, but are not overly

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We felt that this particular home, located in The Hunters Forest subdivision, off of Jones Bridge Rd, should sell for the mid to upper $140’s.  We had originally planned on adding a sunroom to elevate the price to the mid $150’s, but decided not to.  We felt that with our purchase price of $71,000 we would still be able to make a profit without adding the sunroom. 

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Our plans were to close just before Christmas, and to begin the renovation shortly after the beginning of the year, so that we would have it ready to return to market by March.  Instead we closed on November 30th, and started the renovation immediately, in order to provide work for our crew in advance of Christmas.  It worked out great, we finished on Christmas Eve.  Three weeks, and

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Bright Spots & Not So Bright Spots of 2010 & 2011

At the beginning of every year, it is a good time to reflect back on what happened in the past year and look forward to the things to come in the New Year. While the real estate industry did not come out of its slump as predicted, it also did not slide any deeper in the Northern Atlanta market. In fact, we remained at a even level over the past 12 months versus all the negative predictions made over the same 12-month period. Some areas have had small gains and others have had small losses but over all we remained at about the same level as we ended 2009.

A Return to Sanity

All the so-called sweeping changes made to the financial industry also have had very little effect on the basic day-to-day

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First things first, what are these “Shadow Inventory of Homes”?

The “Shadow Inventory of Homes” is homes that normally would have already been foreclosure properties. These homes have been delayed from going into foreclosure by loan modifications, moratoriums or otherwise being stuck in never-never land between delinquency and repossession. Due to efficiency increases of banks and government, these types of homes are moving through the system at a faster rate and will soon hit the market as short sales or foreclosure sales.

What will this do to the value of homes?

From several studies conducted by independent consultant firms such as John Burns Real Estate Consulting, the Bookings Institute and many others and also the reports in the Wall Street

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This was one of our most enjoyable transactions; primarily because of the sellers who were a very delightful couple. He was a retired Atlanta police officer and always had a story to tell when I stopped by. When we were contacted by the owners; they had lived in the home for a number of years. In fact the house still had the 1970’s shag carpet in it; so it was pretty dated.

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The home was one of those split foyers, you know the style; you walk in the front door and either go up or down.  There wasn’t really anything unique about the home; except that it had a foundation problem. I originally noticed it on my first visit to the home.  There was an elevated line that could be seen under the carpet.  I knew that it was a slab crack, but did not find out

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As we approach the year end of the year, many of us may be re-evaluating our portfolios, our financial interests including property insurance and life insurance, reducing and/or consolidating our debt, and preparing our estate plans for the next generations.

Although everyone knows it is necessary to appraise real estate to sell it, there are many other reasons people would contact a real estate appraiser. Here are some ways an appraisal of your real property may be useful next year:

  • Getting a Real Estate Loan: Establishing an Opinion of Value for a Real Estate Purchase or Refinance to lower interest or to provide collateral for other purchases of real and personal property.
  • Establish an Opinion of Value for Dissolutions and Buyouts as in
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One of our recent flips was a ranch on a full basement in Alpharetta.  The home had
been lived in for a number of years by the then current owner.  The home needed updating to bring up the value, but it was mostly cosmetic in nature.  We thought it was about time to get one that did not need so much work.  Before & After

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On the outside we replaced the roof with an architectural roof, removed the LP siding, replaced it with HARDI Plank, and repainted the exterior.  This made a huge difference in the exterior appearance, and did not represent a huge cost.  We also had to water proof a portion of the front foundation wall.  This required bringing in a back hoe, digging down to the footer, filling cracks in the block wall and then applying water proofing

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A contractor or vendor who supplies labor or materials to a new or existing home can file a mechanic’s or materialman’s lien if they are not paid for their services. The vendor must file a claim of lien within 90 days after completing their work or supplying materials to the property. Furthermore, the vendor must file a lawsuit to perfect the lien within 365 days after filing the claim of lien. Otherwise, the claim of lien expires and is void.

To prevent a lien from being filed against your property, a homeowner should insist that every vendor supplying labor or materials to the property sign a lien waiver upon receipt of payment. Moreover, if the homeowner engages a contractor to supervise the work, the contractor should sign an Affidavit of

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