Athens GA Real Estate, Relocation, Community News & Event Information

Is There Another Wave of Foreclosures Coming for Athens, GA?

2010-07-26T04:59:00Z

Unfortunately, Georgia is still on the top 10 list for states with the highest foreclosure rates during June 2010 according to Realty Trac statistics.

According to their statistics, 1 home per 334 homes in Georgia is in foreclosure. In the first half of 2010 there were 71, 949 homes foreclosed upon in Georgia. In June of 2010 Georgia ranked number 8 of the top 10 states with highest foreclosure rates. For the first half of the year, Georgia is ranked #6.

What is worrisome is the percentage of homes in Georgia that are in deliquency and "non-current" status (usually defined as being over 30 days late on mortgage payments). Lender Processing Services shows 14.4% of Georgia homeowners are "non-current" and 11% as deliquent. Real estate industry gurus warn that signs of stabilizing markets in some areas could be "derailed" by "shadow inventory". Some analyst report that 6 million more people are expected to lose their homes over the next 2 years due to foreclosures & strategic defaults (know as "walking away" when a home is in a reverse/no equity postion).

However, there is some good news...nationally, foreclosure filings are down 7% from a year ago and Georgia is ranked # 6 in the Best State to do Business In!

As for Athens, GA (Clarke County only) currently there are 66 active listings in Athens MLS identified as REO or post foreclosure listings (please note that actual numbers could be higher - it is not required that listings owners be identified). In June 2010, there were 18 identified sales of REO or post foreclosure properties in Athens MLS for Athens, Clarke County, Georgia.

Related Articles:

Athens, GA Homeowners in distress - don't get scammed, foreclosure prevention fraud is rising!

Athens, GA Fireworks & Festivities for July 4th, 2010

2010-07-02T21:20:00Z

Happy 4th of July 2010 Athens, GA folks!

Start your celebration in Colbert, GA (just northeast of Athens, GA on Highway 72, E in Madison County). The 2010 Colbert 4th of July parade will actually take place a day early (as the 4th falls on Sunday). So plan to be in Colbert early for a parade start at 9am on Saturday July 3, 2010. Festival with crafts, food, music & more follows! Click here to Colbert 4th of July parade photos from earlier years.

FIREWORKS! Sunday, July 4th, 2010 the annual Star Spangled Classic at Bishop Park is the largest fireworks display around Athens, GA. The event begins at 6pm, with fireworks scheduled for 9:30 (depending on darkness & weather, of course).

Be safe & have a HAPPY 4th of July!

Home Buying Tax Credit Extension Available for GA Military

2010-06-17T03:02:00Z

This week's guest post is brought to us by James Kelley. James blogs on veteran's issues and real estate in the United States at VA Benefit Blog. He also works for VA Mortgage Center.com. proudly serving American military families as the nation's premier VA lender.

For service men and women returning back home to Georgia from abroad, a great opportunity is awaiting. Until next spring, buying a home can also mean receiving an $8000 tax credit.

Military service members, intelligence community personnel, and foreign service employees who have spent 90 days outside of the U.S. between January 1, 2009 and April 30, 2010 – with exceptions for those who returned early due to medical issues – can qualify for the tax credit and save money when buying their home.

First and foremost, you have until April 30, 2011 to buy or enter into a binding contract and until June 30, 2011 to close your sale. This deadline gives military buyers an entire year longer than the regular citizenry (whose deadline has already passed) to qualify for the credit, accounting for military buyers’ service and special circumstances.

To qualify, there are some restrictions.

Buyers must either be a first-time buyer or a long-time resident. First time buyers are those buying their first primary residence of the last three years, and long-time buyers must have lived in and owned the same residence for five consecutive years. Long-time residents can only qualify for up to $6,500.
Buyers cannot spend more than $800,000 on their home purchase.
Buyers yearly income must be less than $145,000 to qualify and less than $125,000 to qualify for the full $8,000 credit. Joint-filers’ yearly income must be less than $225,000 to qualify for the full credit.

So if you’re a current or former member of the U.S. Armed Forces who is looking to truly call the South your home, don’t let this opportunity to save pass you by.

Real Estate Tax Credit and Incentives Athens, GA area owners, buyers, and sellers should know about!

2010-02-24T00:38:00Z

Whether you are looking for deductions for last year or next year, or just need more information on getting a home and qualifying for the up to $8000 tax credit, here are some links with great info for you.

(New!)

Tax Tips for Homeowners Looking Ahead to 2010 Returns

From energy tax credits to vacation home deductions, check out these tax tips for homeowners looking ahead to 2010 returns. Read
(New!)

Tax Tips for Homeowners Preparing 2009 Returns

Follow these tax tips for homeowners to ensure that you receive all of the tax deductions and tax credits to which you're entitled. Read
Homebuyer Tax Credit: What You Need To Know

Long-time homeowners and first-time homebuyers may benefit from a new federal tax credit when purchasing a home. Read

Visit houselogic.com for more articles like this.

If you have any questions, please feel free to ask them in the comments or contact me at 706-207-2502.

Athens, GA Real Estate Foreclosure News

2010-02-18T00:45:00Z

Are you considering purchasing a REO home (real estate owned - by a "bank" after foreclosure" ) in Athens, GA? Everybody who has shopped awhile probably knows about HUD homes, but Fannie Mae has a special deal on their REOs right now!

Fannie Mae, is currently offering a 3.5% of sales price incentive for the homes they have now have in inventory for buyers closing on or before April 30, 2010. Click here for more details on the Fannie Mae foreclosures.

Some stipulations do apply - I'll be happy to help you figure out if you qualify.

The "incentive" can be used for closing cost, or new appliances, or a mixture of the two.

So you can qualify for up to an $8000 tax credit if you are a first time buyer, up to $6,5000 for existing homebuyer (more stipulations apply) and save 3.5% in closing cost or get new appliances. Click here to see what Fannie Mae REOs are available in Athens, GA and then give me a call at 706-207-2502 to receive free buyer's agency representation at no cost to you (seller pays!).

Holiday Shopping & Christmas Parade - Watkinsville, GA 12/5/2009

2009-12-04T07:27:00Z

You don't want to miss the Watkinsville, GA Christmas Parade this Saturday, December 5, 2009 at 11:00 am! I got to go with several great kids and a best friend last year -see the photos here and plan to have as much fun as we did!

Work in some great present shopping at the Oconee Cultural Arts Foundation Holiday Market while you are in Watkinsville, they will actually be open for shopping December 5th & 6th, 2009.

Then pick up some chicken mull from the church on the corner of Main Street & Simonton Bridge Road for supper to call it the perfect day!

Have a great weekend!

Halloween Fun in Athens, GA 2009

2009-10-30T15:07:00Z

Halloween Fun in Athens, GA 2009, the Ghost & Goblins will be out in force for Halloween this year!

Kid friendly fun includes Trunk or Treat at the Athens-Clarke County Police Sub Station on Baxter Street from 5pm to 7pm on Saturday, 10/31/2009! For ages up to 12, all trick or treaters MUST be in costume and you need to call to register at 706-613-3601 or 706-613-3603 and it is FREE!

Click here to take a look at the rest of the Halloween Fun from Athens-Clarke County Leisure Services - all programs are affordable or free!

Haven't got your pumpkins yet - don't worry there are still great ones left! Visit the pumpkin patch at Winterville United Methodist Church for a super selection, they also a fantistic spot set up to take photos! Washington Farms in Oconee County has great pumpkins and much more.

After the kids have had plenty of fun and gone to bed, Downtown Athens,GA will rock with tons of Halloween Fun for the adults. Terrapin Beer Company says come in costume Saturday for fun & prizes!

One of the most talked about Athens, GA Halloween events is The Wild Rumpus Parade & Spectacle taking place at 10pm on Saturday 10/31/2009 - check out more info here.

Click here for the Flagpole's list of other great Halloween parties & events for Athens, GA!

As always, be safe and have a great time!

Athens, GA Homeowners in distress - don't get scammed, foreclosure prevention fraud is rising!

2009-10-16T06:11:00Z

Athens, GA Homeowners in distress - don't get scammed, foreclosure prevention fraud and scams are increasing! If you are a homeowner in financial distress and potentially facing foreclosure, people may be knocking on your door trying to steal your home from you.

Be Wary & Aware!

Some banks and mortgage companies send out legitimate "loss mitigation consultants" to knock on your door (especially if you don't take the phone calls from collections department personnel) who are able to assist you with modifying your existing mortgage or making alternative plans like attempting a real estate short sale. However, it is critical that you verify with your mortgage company or bank that this is truly their representative. Once of the best ways to do this is to call the customer service number of the company that holds your mortgage and ask for the loss mitigation department.

Take a look a the video below, so that you will understand how these scams work and how to avoid having your house stolen from you through mortgage fraud.

If you are facing financial hardship, and may be facing foreclosure, it is better for you to be proactive - call your mortgage lender today to discuss your modification options, or call a Real Estate broker who specializes in Athens, GA area short sales today. Please be careful when someone approaches you about preventing a foreclosure, especially if they "promise" to rent or sale the home back to you!

(photo credit: @respres)

Answers About Short Sales for Athens, Ga Home Sellers

2009-10-14T03:47:00Z

As the housing market in Athens, GA continues to be stagnant with it taking more time for fewer homes to be sold, we are getting a lot of questions about "short sales". Over the next few weeks, I am going to attempt to answer some of the real estate short sale questions I am getting asked frequently.

Do I have to get an approval from my lender to offer my house as a short sale?

The short answer is no. Because every contract offering you may receive from a potential purchaser is going to be different, there is no such thing as an "approved short sale". However, there are many things you can do to get the ball rolling. Your real estate short sale specialist should be collecting the paperwork necessary to submit with an offer including a form that authorizes your mortgage company to discuss your situation with the real estate broker (often called a third party authorization), providing you with the financial worksheet which will document your hardship situation, and advising what other documentation is going to be required.

Do I have to be behind on my mortgage payments in order to short sale my home?

Again the short answer is no. Your short sale may not get priority processing, as it may be placed behind homes that are in foreclosure or moratorium (forbearance) status; however most major lender will consider a short sale where there is documented hardship and declining market situations. It is desirable for the lender to not have your property go into foreclosure which will reflect an even greater loss for them.

When should I consider a "short sale"?

When you have or anticipate a hardship situation that will cause you to be insolvent (when your monthly expenses exceed your monthly income) and/or your home is worth less than you owe. In order to avoid foreclosure it is critical that you not wait to late to begin the short sale process.

If you need immediate assistance and answers to your short sale questions, please feel free to ask your questions in the comments below or contact me now privately, otherwise I will continue to answer questions as they come in.

Are Houses in Athens, Georgia Selling?

2009-10-10T06:20:00Z

We are pretty blessed in Athens Georgia with regards to the real estate market right now. Why? Well some houses are selling, inventory has decreased, and market values have taken a only a minor hit overall - not a huge one in comparison to other parts of the country.

Below is the breakdown of how many homes in what price range have sold in Athens (Clarke County) Georgia, so far this year.

As you can see, homes in the $100,000 to $160,000 range are predominant right now. Some of this can be accredited to the 1st time Home Buyer Tax Credit of up to $8000 that is available through 11/30/2009. This price range is typically considered "affordable housing", and is moving quite well. We are even seeing "bidding wars" and multiple offers in this range right now.

Most homes in Athens, GA are taking longer to sell than they did 24 months ago.

Currently the median sales price in Athens - Clarke County is $159,376, whereas the average sales price is $140,000. These are very similar to the the median and average sales prices for 2007 and 2008.

Activity in the upper price ranges has been very stagnant, which still says something good about the general economy in Athens, GA. Although not many homes are selling, not many sellers are desperate enough to give their home away, which helps to maintain values overall.

All real estate statistics above are per Athens MLS and are believed accurate, but not guaranteed. All market interpretations are based solely on the opinion of me

Athens GA Real Estate, Relocation, Community News & Event Information

Is There Another Wave of Foreclosures Coming for Athens, GA?

Athens, GA Fireworks & Festivities for July 4th, 2010

Home Buying Tax Credit Extension Available for GA Military

Real Estate Tax Credit and Incentives Athens, GA area owners, buyers, and sellers should know about!

Tax Tips for Homeowners Looking Ahead to 2010 Returns

Tax Tips for Homeowners Preparing 2009 Returns

Homebuyer Tax Credit: What You Need To Know

Athens, GA Real Estate Foreclosure News

Holiday Shopping & Christmas Parade - Watkinsville, GA 12/5/2009

Halloween Fun in Athens, GA 2009

Athens, GA Homeowners in distress - don't get scammed, foreclosure prevention fraud is rising!

Answers About Short Sales for Athens, Ga Home Sellers

Are Houses in Athens, Georgia Selling?