This is our what are FMLS says a   Traditional short sale is when the lender agrees to accept a mortgage payoff that doesn't cover the outstanding loan. The 2 options we offer in our system for listing and searching are “potential short sale” and “short sale pre-approved.” FMLS has no way of determining at what stage a property may be in the short sale/foreclosure process, so that is why list it as “potential.” Short sale pre-approved means that the lender has pre-approved the price of the short sale.    I wish MLS would get clear on what we are all doing - Short Sales - Potential Sale -  Pre Foreclosure - Foreclosure .  I just want to sell houses.   If your needing to sell call me I figure out for you.  04/08/2011

How-To Get A Loan After A Short Sale Or Foreclosure Can it really be done can I get a Home Loan after a Short Sale / Foreclosure .. it will take a little time and a little work but yes you can. By far the easiest mortgage to obtain is a FHA loan: Ok tell me how . 1) 3.5 percent down payment, based on the purchase price of the home (e.g., $7,000 on a $200,000 home), or a gift of that same amount; 2) 3 percent to 6 percent of the purchase price, on top of the down payment, for closing costs, or a credit from the seller of the same amount; and 3) 640 FICO credit score — the middle score of those generated by the three credit bureaus (some banks will lend to borrowers with middle scores lower than 640, but will require more than the minimum down payment). Lenders will want you to document ... 04/07/2011

Banks understand  that at Short Sale a more viable solution in foreclosure and Short sale activity will continue to grow as Lenders attempt to stem the rising foreclosure inventory by utilizing short sales in lieu of loans going to REO. That is why sever major  lenders have joined Equator in an effort to make the short sale process - WORK.   If your upside in your mortgage and need to sell call me today I have worked  with all 6 major lenders for the past 5 years and know how to get the job done  EQUATOR Short Sales:Wells Fargo is on!  posted by Michele Calloway 3/4/11   EQUATOR (EQ) default servicing solutions software has launched a new website (www.equator.com); the big news is Wells Fargo is on Equator for Initiating Short Sales. The other servicers are Bank of America, GMAC, ASC, B... 04/05/2011

Foreclosure Prevention Programs, Loan Modifications Waste of Time and Money? Taking a closer look at the realities of all the government foreclosure prevention programs sheds light on how off the mark they have been. For the record, at the time ALL of these programs were celebrated as a possible solution to the housing crash. Sure, in hindsight its all too easy to be cynical about the Obama Administrations various programs, acts, guidelines...not to mention the literally dozens of new acronyms we have all had to learn. (HAMP, HAFA, PRA, HARP etc etc) Here are the hard facts from the NYT and Corelogic: Congress set aside $50 billion for foreclosure revention, amid administration projections that three million to four million homeowners would benefit from modifications. So far, the Treasu... 04/04/2011

The bottom has been hit and we are moving up a recent report on RIS Media News shows housing market moving upward and home prices climb in Gwinnett County For April 1st - Metro Atlanta sees increase in new housing starts and buyers are lining up to take advantage of this market shift .. see details below.. it's going to be a great day - don't miss out today is the day 04/01/2011

I was recently asked about the  property tax appeal process, I thought it be a good time to once again outline Senate Bill 346   The Governor signed Senate Bill 346, the comprehensive tax reform bill, on June 4, 2010. The major provisions of this bill are outlined below:   Requires annual assessment notices sent to all properties Authorizes the creation of regional boards of equalization Requires an estimate of the tax liability on the assessment notice Requires DOR to create a uniform appeal form Requires members of the Boards of Equalization (BOE) to take a written oath of duty Requires the BOE to render a decision on an appeal within 12 months of receiving an appeal if no extensions are granted Gives the Superior Court Clerk responsibility for oversight of the BOE Grants appeal right... 03/23/2011

Lawrenceville GA Real Estate Market Report for February 2011   Active listings: 1561 homes are available for sale in Lawrenceville GA priced from $19,000 to $1,100,000. Pending sales: 447 homes are in escrow priced from $19,900 to $450,000. February sales: 146 homes sold in February 2011. 59 homes were non-distressed 87 homes were a foreclosure or short sale or 60% of the homes sold in February   In February, 146 homes closed in Lawrenceville Georgia. This is an increase of 3 units, as there were 143 homes that closed in February of 2010. The Average list price for the homes that closed in Lawrenceville for February 2010 was $144,087. The Average list price for the homes that closed in Lawrenceville for February 2011 was $122,809. The Average sales price for the homes that closed in Law... 03/22/2011

When you submit an offer on a Fannie Mae Home it is reviewed based on the following  Fannie Mae reviews all offers submitted and considers several factors when determining the response. Case specific factors may impact the response or formalized approach to an offer, including:  days on market  offer activity and the amount of previous offers  occupancy considerations  days at the current list price  amount and/or timing of the next scheduled list price reduction  closing costs  other factors as appropriate to the specific listing   If your looking to purchase and Fannie Mae REO work with an agent (like me) that is Fannie Mae approved to guarantee your success.  03/08/2011

Fannie Mae is a government-sponsored enterprise chartered by Congress with a mission to provide liquidity, stability and affordability to the U.S. housing and mortgage markets. Fannie Mae operates in the U.S. secondary mortgage market. Rather than making home loans directly to consumers, Fannie Mae works with mortgage bankers, brokers and other primary mortgage market partners to help ensure they have affordablerate funds to lend to homebuyers. Fannie Mae funds its mortgage investments primarily by issuing debt securities in the domestic and international capital markets. 03/08/2011

The nation’s foreclosure inventory, swelled almost 10 percent over the course of 2010. LPS classifies loans that have been referred to a foreclosure attorney up until the final stage of foreclosure sale (i.e. all loans in process) as part of the foreclosure inventory. This rate stood at 4.15 percent at the end of December, compared to 3.85 percent during the first month of last year. 02/09/2011

According to a new market report released by Lender Processing Services (LPS) Tuesday, delinquency rates are down across all first-lien home loan products, with an 18 percent overall decline since the start of 2010. The company’s analysts attributed the drop to more loans entering foreclosure, combined with a decline in new delinquencies. As of the end of December, LPS reports the total U.S. delinquency rate for residential mortgage loans – which excludes loans that have been referred to an attorney for foreclosure – stood at 8.83 percent. That’s down from a rate of 9.02 percent reported by the company just one month earlier. In January 2010, the overall delinquency rate stood at 10.97 percent. 02/09/2011

Image via Wikipedia Market stats for Lawrenceville, December, 2010, indicate that there are 1594 properties on the market. Overall, there is about an 9.9 month supply of properties. In 2009, sales for December jumped between November and December (166 to 175).  For 2010, December sales jumped to 176 from 153 in November. For Lawrenceville Homes  Under $200k, there are 1347 listings, with about a 9.4 month supply of homes.  It is an anomaly right now among Gwinnett Market/Price segments.  The inventory went up for December, as did the number of months of inventory.  Sales were up slightly from December 2009 (152 v 149).  But, like other segments, sales were up significantly from last month (139 in November). Between $200k and $400k, there are 208 listings for sale, and about 11.8 months... 01/18/2011

Lawrenceville GA Real Estate Market Report for December 2010   Active listings: 1,573 homes are available for sale in Lawrenceville GA priced from $25,000 to $1,500,000. Pending sales: 315 homes are in escrow priced from $29,900 to $699,900. December sales: 176 homes sold in December 2010. 90 homes were non-distressed 86 homes were a foreclosure or short sale or 49% of the homes sold in December In December, 176 homes closed in Lawrenceville Georgia. This is a decrease of 1 unit, as there were 177 homes that closed in December of 2009. The Average list price for the homes that closed in Lawrenceville for December 2009 was $152,357. The Average list price for the homes that closed in Lawrenceville for December 2010 was $133,848. The Average sales price for the homes that closed in Lawren... 01/14/2011

FILING FOR HOMESTEAD EXEMPTION IN 2011 Homeowners may need to provide the Warranty Deed, proof of residence, social security numbers, driver’s license and car tag info Fulton County – deadline is April 1, 2011 404-612-6440 http://www.fultonassessor.org/Forms/HtmlFrame.aspx?mode=content/Taxreliefinformation DeKalb County – deadline is March 1, 2011 404-298-4000 http://web.co.dekalb.ga.us/taxcommissioner/homesteadgen.html#applications Gwinnett County – deadline is March 1, 2011 770-822-8800 http://gwinnetttaxcommissioner.manatron.com/Tabs/Property/HomesteadExemption.aspx Cobb County – deadline is April 1, 2011 770-528-8600 http://www.cobbtax.org/Forms/HtmlFrame.aspx?mode=content/Exemptions.htm&LMparent=189 Clayton County - deadline is April 1, 2011 770-477-3311 http://www.claytoncountyga.... 01/10/2011

Welcome to 2011, Changing Short Sale Rules - The HAFA program has been a mixed bag, but last week the Treasury Dept. changed the rules to make short sales easier. Here are the primary changes to HAFA: -   HAFA no longer requires that servicers verify the borrowers finances  HAFA no longer requires servicers to determine if the borrowers monthly payment is higher than a 31 percent debt-to-income ratio.  HAFA no longer requires second-lien holders to agree to accept 6 percent of the unpaid principal balance owed them, up to $6,000. Servicers now decide who gets paid how much, with a cap still at $6000.  HAFA now requires borrowers seeking a short sale get an answer/agreement within 30 days.    Overall, these changes should help expedite short sales, which is good news for home owners, rea... 01/08/2011

Check out this link to find out information on how to get free SAT and ACT prepartion.    http://www.gwinnettdailypost.com/localnews/headlines/GWINNETT_GAB_Free_ACT_and_SAT_practice_tests_offered__112978424.html Free is always great.  01/05/2011

Lawrenceville GA Real Estate Market Report For November 2010   Active listings: 1547 homes are available for sale in Lawrenceville GA priced from $49,900 to $1,500,000. Pending sales: 311 homes are in escrow priced from $49,900 to $699,900. November sales: 140 homes sold in November 2010. 83 homes were non-distressed 57 homes were a foreclosure or short sale or 41% of the homes sold in November   In November, 140 homes closed in Lawrenceville Georgia. This is a decrease of 71 units, as there were 211 homes that closed in November of 2009. The Average list price for the homes that closed in Lawrenceville for November 2009 was $150,611. The Average list price for the homes that closed in Lawrenceville for November 2010 was $133,374. The Average sale price for the homes that closed in Lawr... 12/28/2010

Image via Wikipedia arket stats for Lawrenceville, November, 2010, indicate that there are 1627 properties on the market. Overall, there is about an 10.5 month supply of properties, with sales weakening since June. In 2009, sales for November had dropped drastically between October and November (223 to 166).  For 2010, November sales came in at 148. For Lawrenceville Homes  Under $200k, there are 1338 listings, with about a 9.5 month supply of homes. Sales accelerated through June, but then fell off as the tax credit was slated to end.  While inventories are down from just a couple of years ago, for the recent past, they are still high.  Sales for this year v last year are at 134 v 183. Between $200k and $400k, there are 246 listings for sale, and about 17.6 months of supply.  Sales ha... 12/16/2010

If you are a homeowner, or a buyer looking to purchase in the area of Lawrenceville, GA, the following information could be of interest to you: current statistics of interest for homes sold and homes for sale in Lawrenceville, GA: there are currently 1543 active listings for residential homes in Lawrenceville alone.   There are 512 pending sales (under contract) and sales closed in November of this year in Lawrenceville alone. Of the 512 currently pending and closed in November, just 123 of that total actually closed a sale in November, the rest being under contract properties that may or may not close in the future. Here's the shocking statistic:   closed sales in November of this year ranged from $33,850 to a highest sale in Lawrenceville for November 2010 of $340,000.  Of the 123 clo... 12/02/2010

As of the end of August, there were 2.1 million properties either in the foreclosure process or headed for foreclosure, according to CoreLogic. It's come to be known as the "shadow inventory," because it will be coming to market soon, but it's not listed yet. To put that in perspective, there are about 4.2 million properties (existing homes and new construction) currently, visibly on the market now. So add 50 percent more, and there's your true inventory. Talk on the street it that it's starting to leak out now ..there has been an upswing in BPO requests and Fannie Mae REO assignments were increasing. So it looks like 1st quarter of 2011 will signal the start of Shadow Inventor Sell off. Are Buyer incentives far behind ? 11/30/2010