Is this an Upside for Sellers in a Bad Real Estate Market??
Read the full story>>> REALTOR® Magazine-Daily News-Global Interest in U.S. Homeownership Gains
This North Georgia Real Estate blog is hosted by BERKSHIRE HATHAWAY Georgia Properties located in the quaint mountain town of Blue Ridge, GA.Please feel free to call (866-413-1781) or drop me an email gaylebarton@inbox.com if I can assist you with buying or selling your mountain home or property.
Friday, July 9, 2010
Friday, June 18, 2010
Swan Drive-in Movie Theater in Blue Ridge, GA
Did you know that Blue Ridge, GA still has an active drive-in movie?
We do and it’s great!
Built in 1955, the Swan Drive-in is one of only 5 left in the state of Georgia. It is open year-round and runs first-run movies so it popular with locals and visitors alike.
You can check what’s showing or see more info here: http://www.swan-drive-in.com/
This North Georgia Real Estate blog is hosted by BERKSHIRE HATHAWAY Georgia Properties located in the quaint mountain town of Blue Ridge, GA. Please feel free to call (866-413-1781) or drop me an email gaylebarton@inbox.com if I can assist you with buying or selling your mountain home or property.
Thursday, June 17, 2010
Commercial Building For Sale - Central Business District - Blue Ridge, GA
Checkout the gorgeous lodge-style commercial building I have listed in the heart of the CENTRAL BUSINESS DISTRICT in quaint downtown Blue Ridge, GA
**NEW PRICE** $675,000
More information about this lisiting
This North Georgia Real Estate blog is hosted by BERKSHIRE HATHAWAY Georgia Properties located in the quaint mountain town of Blue Ridge, GA. Please feel free to call (866-413-1781) or drop me an email gaylebarton@tds.net if I can assist you with buying or selling your mountain home or property.
**NEW PRICE** $675,000
More information about this lisiting
This North Georgia Real Estate blog is hosted by BERKSHIRE HATHAWAY Georgia Properties located in the quaint mountain town of Blue Ridge, GA. Please feel free to call (866-413-1781) or drop me an email gaylebarton@tds.net if I can assist you with buying or selling your mountain home or property.
Wednesday, June 16, 2010
Geocaching in Blue Ridge, GA = High-tech Treasure Hunting
As described by geocaching.com, geocaching is a high-tech treasure hunting game played throughout the world by adventure seekers equipped with GPS devices. The basic idea is to locate hidden containers, called geocaches, and then enter your experiences online.
There are currently over 300 geocaches around Blue Ridge, GA ranging in difficulty from easy to very challenging, so this is a game for the whole family. Just follow the link, sign up for your FREE account, download the data for geocaches you want to find and head for the hills!
Our family will be joining the fun this summer, so hopefully, we'll see you here!
This North Georgia Real Estate blog is hosted by BERKSHIRE HATHAWAY Georgia Properties located in the quaint mountain town of Blue Ridge, GA. Please feel free to call (866-413-1781) or drop me an email gaylebarton@tds.net if I can assist you with buying or selling your mountain home or property.
Monday, June 14, 2010
SIGN UP for my NEWSLETTER - Blue Ridge GA Real Estate
I would like to offer you an opportunity to sign up for my FREE seasonal newsletter called
Blue Ridge, GA - What's New!
The newsletter is written to provide you with real estate related information as well as general information about our beautiful town and the surrounding North Georgia mountain communities.
As a subscriber, you will receive information about upcoming area events, new business openings and "special deals" - many offered exclusively to our clients. [See coupons for local businesses in each edition]
You may opt out of receiving the newsletter at any time by using the link at the bottom of the page.
This North Georgia Real Estate blog is hosted by BERKSHIRE HATHAWAY Georgia Properties located in the quaint mountain town of Blue Ridge, GA. Please feel free to call (866-413-1781) or drop me an email gaylebarton@tds.net if I can assist you with buying or selling your mountain home or property.
Blue Ridge, GA - What's New!
The newsletter is written to provide you with real estate related information as well as general information about our beautiful town and the surrounding North Georgia mountain communities.
As a subscriber, you will receive information about upcoming area events, new business openings and "special deals" - many offered exclusively to our clients. [See coupons for local businesses in each edition]
You may opt out of receiving the newsletter at any time by using the link at the bottom of the page.
This North Georgia Real Estate blog is hosted by BERKSHIRE HATHAWAY Georgia Properties located in the quaint mountain town of Blue Ridge, GA. Please feel free to call (866-413-1781) or drop me an email gaylebarton@tds.net if I can assist you with buying or selling your mountain home or property.
Tuesday, April 6, 2010
Gayle Barton has earned the Nationally recognized (SFR) Short Sales and Foreclosure Certification
Gayle will be contacting and assisting Fannin County lenders dealing with REO issues as well as homeowners facing foreclosure. She is also available to address the many Short Sale questions generally asked by cabin owners in distress, and to discuss options other than foreclosure.
Though the timeline related to the foreclosure process depends mainly on your lender, new programs were put in place on 4/5/10 so you may still be able to avoid foreclosure if you act immediately
If you would like to schedule a confidential consultation or proceed with the short sale of your home, please contact her by phone at 866-413-1781 or email gaylebarton@inbox.com. **All communication will be held in strict confidence.
Tuesday, March 30, 2010
So, You Want to Buy a Short Sale….
Are you looking to buy a new home or investment property? Now is a great time to be a buyer as the current real estate market holds many bargains to be found.
Foreclosures are one option, but in many cases you will find that these properties are heavily damaged or in a state of disrepair. Another option is to make an offer on a short sale.
FORECLOSURE – what does that mean?
A foreclosure is when the bank, or lending institution, has taken the property back due to non-payment of the mortgage and is selling the property directly.
SHORT SALE – what does that mean?
If a home is being sold as a “short sale” that means that it is being sold for less than the current owner owes on the property and the seller does not have the funds to make up the difference at closing. Due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market more home owners are finding themselves in this situation.
In most cases, the homeowner involved in a short sale still lives in the property so it has not been vandalized and may require less work or repair.
Homeowners often try to accomplish a short sale in order to avoid foreclosure as it is less damaging to their credit.
While a short sale can be a bargain, there are a few things you need to know before you make an offer.
HOW DOES A SHORT SALE WORK FOR A BUYER?
When you write a contract on a short sale property it will be sent to the Seller (just like a normal contract). If the Seller accepts and signs the contract it will then be sent to the Lender for approval.
Some Lenders will have proactively worked on the property package and will know what they will accept. In this case, the short sale approval can be as short as 60 days. Some Lenders will not begin this process until a contract has been received. In these cases, the standard approval can take six to eight months!
I have read statistics that say that because of this lag up to 60% of short sales fail due the Buyer losing interest or finding another property.
However, a new program (HAFA) is due to begin 4/5/10 which was created to streamline these requirements and shorten the timeline. This is expected to help Buyers, Sellers and Lenders by getting more short sales completed.
WHO IS A GOOD SHORT SALE CANDIDATE?
While a short sale can be an excellent way to get a bargain in today’s market, it is not a good choice for all buyers.
You're a good candidate for a short-sale purchase if:
You're very patient - Even after you come to agreement with the seller to buy a short-sale property, the seller’s lender has to approve the sale before you can close. When there is only one mortgage, short-sale experts say lender approval typically takes about two months. If there is more than one mortgage with different lenders, it can take four months or longer for the lenders to approve the sale. (HAFA is a new government program that is set to begin on 4/5/10 which should reduce this time frame.)
Your financing is in order – For obvious reasons, Lenders prefer cash offers. However, if you can’t pay all cash for a short-sale property, it’s important to show you are well qualified and your financing is set. If you have a written pre-approval, a large down payment, and can close at any time, your offer will be viewed more favorably than that of a buyer whose financing is less secure.
You don’t have any contingencies - If you have a home to sell before you can close on the purchase of the short-sale property, or you need to be in your new home by a certain time, a short sale may not be for you. Lenders like no-contingency offers and flexible closing terms.
You make a reasonable offer - The Lender is already losing money so they want to minimize those losses as much as possible. If you make an offer that is significantly lower than the fair market value of the home, chances are that your offer will be rejected and you’ll have wasted your time and everyone else’s.
Here are a few other things that a Buyer needs to be prepared for.
“AS IS” Property - The property may require repairs and the buyer will most likely be asked to take the property “as is.” Because the Lender is already taking a loss on the property they may not agree to requests for repair credits. Be sure to speak with a qualified and experienced agent about how you can write the contract to protect yourself in this circumstance should significant damage be found during the inspection.
Unworkable terms - When a lender approves a short sale, it may require that the sellers sign a promissory note agreeing to repay the remaining amount of the loan (called the deficiency). This may not be acceptable to some financially desperate sellers. In which case, the Seller may refuse to go through with the short sale. Lenders can also change the terms of the contract that you already negotiated, which may not be agreeable to you. In that case, you may refuse to go through with the short sale.
As you can see there are a few downsides to making an offer on a short sale. But if you have the time, patience, and will to see it through, a short sale can be a win-win for you and the sellers.
This North Georgia Real Estate blog is hosted by
Gayle Barton of BERKSHIRE HATHAWAY Georgia Properties located in the quaint mountain town of Blue Ridge, GA.
Please feel free to call (866-413-1781) or drop me an email gaylebarton@inbox.com if I can assist you with buying or selling your mountain home or property.
Foreclosures are one option, but in many cases you will find that these properties are heavily damaged or in a state of disrepair. Another option is to make an offer on a short sale.
FORECLOSURE – what does that mean?
A foreclosure is when the bank, or lending institution, has taken the property back due to non-payment of the mortgage and is selling the property directly.
SHORT SALE – what does that mean?
If a home is being sold as a “short sale” that means that it is being sold for less than the current owner owes on the property and the seller does not have the funds to make up the difference at closing. Due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market more home owners are finding themselves in this situation.
In most cases, the homeowner involved in a short sale still lives in the property so it has not been vandalized and may require less work or repair.
Homeowners often try to accomplish a short sale in order to avoid foreclosure as it is less damaging to their credit.
While a short sale can be a bargain, there are a few things you need to know before you make an offer.
HOW DOES A SHORT SALE WORK FOR A BUYER?
When you write a contract on a short sale property it will be sent to the Seller (just like a normal contract). If the Seller accepts and signs the contract it will then be sent to the Lender for approval.
Some Lenders will have proactively worked on the property package and will know what they will accept. In this case, the short sale approval can be as short as 60 days. Some Lenders will not begin this process until a contract has been received. In these cases, the standard approval can take six to eight months!
I have read statistics that say that because of this lag up to 60% of short sales fail due the Buyer losing interest or finding another property.
However, a new program (HAFA) is due to begin 4/5/10 which was created to streamline these requirements and shorten the timeline. This is expected to help Buyers, Sellers and Lenders by getting more short sales completed.
WHO IS A GOOD SHORT SALE CANDIDATE?
While a short sale can be an excellent way to get a bargain in today’s market, it is not a good choice for all buyers.
You're a good candidate for a short-sale purchase if:
You're very patient - Even after you come to agreement with the seller to buy a short-sale property, the seller’s lender has to approve the sale before you can close. When there is only one mortgage, short-sale experts say lender approval typically takes about two months. If there is more than one mortgage with different lenders, it can take four months or longer for the lenders to approve the sale. (HAFA is a new government program that is set to begin on 4/5/10 which should reduce this time frame.)
Your financing is in order – For obvious reasons, Lenders prefer cash offers. However, if you can’t pay all cash for a short-sale property, it’s important to show you are well qualified and your financing is set. If you have a written pre-approval, a large down payment, and can close at any time, your offer will be viewed more favorably than that of a buyer whose financing is less secure.
You don’t have any contingencies - If you have a home to sell before you can close on the purchase of the short-sale property, or you need to be in your new home by a certain time, a short sale may not be for you. Lenders like no-contingency offers and flexible closing terms.
You make a reasonable offer - The Lender is already losing money so they want to minimize those losses as much as possible. If you make an offer that is significantly lower than the fair market value of the home, chances are that your offer will be rejected and you’ll have wasted your time and everyone else’s.
Here are a few other things that a Buyer needs to be prepared for.
“AS IS” Property - The property may require repairs and the buyer will most likely be asked to take the property “as is.” Because the Lender is already taking a loss on the property they may not agree to requests for repair credits. Be sure to speak with a qualified and experienced agent about how you can write the contract to protect yourself in this circumstance should significant damage be found during the inspection.
Unworkable terms - When a lender approves a short sale, it may require that the sellers sign a promissory note agreeing to repay the remaining amount of the loan (called the deficiency). This may not be acceptable to some financially desperate sellers. In which case, the Seller may refuse to go through with the short sale. Lenders can also change the terms of the contract that you already negotiated, which may not be agreeable to you. In that case, you may refuse to go through with the short sale.
As you can see there are a few downsides to making an offer on a short sale. But if you have the time, patience, and will to see it through, a short sale can be a win-win for you and the sellers.
This North Georgia Real Estate blog is hosted by
Gayle Barton of BERKSHIRE HATHAWAY Georgia Properties located in the quaint mountain town of Blue Ridge, GA.
Please feel free to call (866-413-1781) or drop me an email gaylebarton@inbox.com if I can assist you with buying or selling your mountain home or property.
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