No more first time homebuyers assistance programs!

Well, they changed the laws! There will no longer be any first time home buyers assistance programs after 10/01/2008! The popular programs through FHA were very highly utilized since 1999. Basically the buyer added the 3% down payment to the sales price and the seller paid it at closing. That way FHA had their 3% down, but the funds were simply being added to the cost of the home and financed. Government felt this was the cause of many foreclosures as the buyers were not actually placing any of their own funds into the home. So as of 10/01/2008 you will have to have a minimum of 3% down to qualify for a home! Big changes keep coming...
Will keep you posted. They did however add a tax credit for real estate taxes paid by a home owner even if that home owner doesn't itemize. As well, they added a tax credit (which is really only a loan) for any first time home buyer who buys a home during certain dates. The credit must be paid back over a long period of time. You can qualify for up to $7,500 in credits. Check with the IRS or your tax consultant for details!

Search the local MLS for homes!

Click the link below to search over 100,000 available homes in the metro Atlanta area! Now is the time to buy with so many choices and great deals!

MLS Listings

Looking for a lender?

If you would like to get pre-approved for a loan please call one of the lenders below. They will run your credit, look at your income and debts, go over your loan options and let you know how much you are qualified to buy! That way you will know what your total monthly payments will be including your taxes, insurance and PMI (if necessary). Just tell them Susan Snead sent you and they will take care of you!
Getting a home loan doesn't have to be painful! Let the experts handle it!

1. Alexia Barmaki @ 678-858-4629.

2. Paul Totman with Greater Atlanta Financial Services @ 678-597-5636.

3. Mark Scarratt at Executive Home Lending 770-403-0089

Buyers Market

If you haven't heard yet, it IS a buyers market! :) With over 100,000 homes on the market currently sellers are very motivated to make a deal! The addition of so many foreclosures have put actual home "sellers" in a tough position this year. As the number of homes listed for sale decrease, the sellers will once again be in a better position to hold out for a higher price and better terms. There has already been a slight decrease in the number of listed homes during the past two month.
If this trend continues at this rate, we will be in a position to have our markets return to a more even playing field come spring.

What does all of this mean? It means, if you are thinking about buying a home, now is the time. You will have plenty of homes to chose from, and will still be in the "drivers seat" during negotiations. Don't let this market slump pass you by without taking your peice of the pie. Interest rates are still low making your monthly payments easy to handle.

Susan Snead

Metro Atlanta Markets

Our inventory is still at record highs with new foreclosures being added to the market daily. This truely is a great time to buy. Call today to get moving in the right direction!