First-time Homebuyer Tax Credit

Welcome back!

Keller Williams Realty will be holding a special Open House this afternoon from 1-5pm to discuss the newly enacted first-time homebuyer tax credit worth up to $8,000.

With home prices dropping, interest rates at historically low rates and now the $8,000 first-time homebuyer tax credit, you will never find a better time to purchase a home than right now.

To qualify for the $8,000 tax credit, you must purchase the home between January 1, 2009 and November 30, 2009.

During the open house today, we’ll cover some of the finer points of the tax credit and talk about the home-buying process. This will be a great opportunity to come and see if you qualify and ask questions about becoming a homeowner. You can also click here to obtain additional information on the first-time homebuyer tax credit.

This special first-time homebuyer session will be this afternoon from 1-5pm at Keller Williams Realty, located at 3350 Atlanta Road, Smyrna, GA 30080 (directions).

If you are not able to attend today’s session, be sure to contact us to learn more about it and to help find your new Atlanta home.

Smyrna Foreclosures

As promised, we wanted to start providing you with the latest hot foreclosure listings. We’ll break each listing up based upon the different Atlanta communities so we can ensure you’re able to see the best deals in the community that you are focusing your Atlanta home search.

Smyrna Foreclosures

So to kick things off on our tour of foreclosures, we’re heading to Smyrna. We’ve compiled the best Smyrna foreclosures for you and we’ll keep the list up-to-date as we move forward.

Smyrna is a hot area and it’s really not easy finding foreclosures in the area. Definitely one of the more thriving areas around Atlanta.

This is due to a variety of factors, but the location is great for those looking to commute to Downtown Atlanta, Midtown, Buckhead, Perimeter and Marietta.

The community is very family-friendly with lots of events and has experienced some exciting developments that make it a great place to call home.

We’ll keep you updated on the hottest foreclosures in the area, including Smyrna foreclosure homes, condos and townhomes for sale.

Click here for your up-to-date listing of Smyrna foreclosure homes, condos and townhomes for sale.

If you have any questions about buying foreclosures, questions on the foreclosure propertyies or would like to schedule a showing, be sure to contact us and we’ll be glad to assist you.

Element Condos at Atlantic Station to be Auctioned

Element condos at Atlanta Station supposedly sold out quickly in 2004 when all 322 contracts were signed.  However when the condos were opened in 2006 the market had shifted and the buyers never showed up.  As a result, the developer, the Lane, Co. still owns 35 percent of the units.

Intown Atlanta currently has a total of 6,000 unsold condos.  Only 66 new units sold in the scond half of 2008.  For the year, 645 new condos changed hands, which is 76 percent below the average of the previous 8 years.

The numbers do not provide much hope to the developer which is why they are looking to exit.  As a result, Atlantans and others can bid on the remaining units at an auction February 28th at the W Atlanta downtown manged by Boston-based Accelerated Marketing Partners.

In all, a total number of 40 Element units will be on the auction block. Minimum bids at Element will be as much as 56 percent below listed prices. For example, a one-bedroom unit at Element that was priced at $214,900 will start at $95,000. Other minimum bids will be $139,000 for a two-bedroom unit that was listed at $276,900, and $205,000 for a three-bedroom unit that was priced at $414,900.

Jon Gollinger, co-founder of the auction company, said the Atlanta marketplace is at a stalemate and “you’ve got to let the consumer break the logjam.”

Click here for all Element Condos for sale.

We’d love to hear your thoughts.  Have you or could you ever see yourself buying a home at auction?  Will auctions become more popular as developers are in need of eliminating their carrying costs and exit projects?  Will auctions like this help the real estate market correct itself?  Respond below in the comments field.

Looking for great deals?

A day doesn’t go by that I haven’t talked to a buyer that is looking for, not just a good deal, but a great deal. Obviously, there are lots of good and great deals on the market, but understanding which ones they are and where they are is the key.

Certainly foreclosures and short sales can be a great source for deals. So what is the difference between short sales and foreclosures?

Atlanta Short Sales

Short sales are essentially homes that are expected to be foreclosed. The owners are being proactive and trying to sell their home before getting foreclosed. However, in order to sell the home quickly, they are trying to sell their home short of what they owe their mortgage company.

When you purchase a short sale home, you enter into a purchase agreement just like any other home purchase, with exception that the transaction is subject to lender approval since they won’t be repaid in full.

If you find that you’re in this situation, be sure to contact us to see if your home can qualify for a short sale and we can assist you in avoiding foreclosure. If you’re thinking about buying a short sale, give us a call and we’ll be glad to walk you through the steps.

For now, you can check out these Atlanta short sales:

• Atlanta luxury short sale homes, condos & townhomes
• Atlanta short sale homes, condos & townhome from $900,000
• Atlanta short sale homes, condos & townhome from $800,000
• Atlanta short sale homes, condos & townhome from $700,000
• Atlanta short sale homes, condos & townhome from $600,000  
• Atlanta short sale homes, condos & townhome from $500,000
• Atlanta short sale homes, condos & townhome from $400,000
• Atlanta short sale homes, condos & townhome from $300,000 
• Atlanta short sale homes, condos & townhome from $200,000
• Atlanta short sale homes, condos & townhome from $100,000

Atlanta Foreclosures

Foreclosures are homes that have been taken back by the bank, also known as REO properties. We find that some foreclosures hit the market at a very good discount and some are priced at market. The ones that hit the market with steep discounts are often gone within a week.

So if you’re interested in buying a foreclosure, it’s important to work with an experienced Atlanta real estate agent who can help you achieve your goals.

We’re going to attempt to make this easier for everyone to find great Atlanta foreclosures and Atlanta short sales over the coming weeks.

But for now, check out these:

• Atlanta luxury foreclosure homes, condos & townhomes
• Atlanta foreclosure homes, condos & townhome from $900,000
• Atlanta foreclosure homes, condos & townhome from $800,000
• Atlanta foreclosure homes, condos & townhome from $700,000
• Atlanta foreclosure homes, condos & townhome from $600,000  
• Atlanta foreclosure homes, condos & townhome from $500,000
• Atlanta foreclosure homes, condos & townhome from $400,000
• Atlanta foreclosure homes, condos & townhome from $300,000 
• Atlanta foreclosure homes, condos & townhome from $200,000
• Atlanta foreclosure homes, condos & townhome from $100,000

Be sure to contact us if you’re contemplating buying an Atlanta foreclosure or short sale. We’ll be glad to meet with you to discuss the risks and rewards of buying an Atlanta short sale or foreclosure.