About Forsyth County, GA

What is the value of a real estate agent's opinion? I have learned if you give away everything you know and do not ask for a commitment back from the person you are helping, you will likely end up not being a part of the transaction. If you do not explain what you expect back you will in all likelihood end up with nothing. Let me explain:

Today I received a call from a person that that is looking at a new home in James Creek (very close to my house). After talking for a little while he told me he is working with a new home agent and they have a home on a slab priced at $251K and wanted to know my thoughts (i.e. was it a good value). He was calling one of my listings in James Creek subdivision. My listing was built in 2007 that is the largest floor plan in their with a basement and priced at $249,975 - I told him about my listing and then asked him which he thought was a better value - he then asked how he could negotiate the price of the new home down - naturally I explained that is where experience and understanding the market comes into play. I told him I am happy to help him negotiate for that purchase, or any other home in the community but that I do not work for free - and if the builder would not pay for my services than he had the option to pay me.

It will be interesting to see if he calls back. In the last 3 months two homes have sold for under $250K, and each have basements. It is amazing what experience and data can do when determining value. Never underestaimate the value an agent can bring to a transaction. I would love to get your thoughts.

Recently the Treasury issued a new rule requiring lenders to respond to short sale offers within 10 business days.

Effective April 5th of this year, the rule applies to the 83 loan servicers participating in the President's Home Affordable Modification Program. These include Bank of America, Wells Fargo and JP Morgan Chase. The hope though, is that the lending industry as a whole, including Fannie and Freddie, will adopt this 10 day rule for ALL short sale offers.

The rule also makes up to $1,500 available to the seller for moving expenses and appears to release the borrower from further liability.

Spread the word agents.... short sales may not continue to be time gustling headaches anymore!

Source: John Adams, Atlanta Journal Constitution, January 2010.

Are you looking for homes in Cumming under 200k? You can find them here! There is some great deals right now in Cumming real estate for sale.

While 2009 ended on a decent note in Forsyth County, mostly because of the bump from the tax credit (which was extended until April 2010), there were 5 homes that made the top of the sales list, and surprisingly, only one had been listed for well over a year.

In 2009, 2076 homes sold in Forsyth County, down from 2388 in 2008. That being said, overall, the average sold price in FC is $291,646 and the average days on market is 104.

So how about the most expensive homes sold in 2009?? Well, it looks like SOME folks had money as 18 homes sold over $800K last year. And the winner is.....

Ford Lane on Lake Lanier for a sold price of $1,925,263 in just over one year on the market. This home originally listed at $2,395,000, has 4 bedrooms, 4 and 2.5 baths with huge sweeping views of deep water Lake Lanier. The panoramic views of this home are spectacular and the home was detailed with designer touches and upgrades throughout. Listed by Coldwell Banker, it was sold by a Prudential agent in August 2009.

Number 2 is...A home in St Marloon Derbyshire Court listed for $1,795,000 and sold for $1,600,000 in June 2009.

This builder's home featured 7 bedrooms and 7 baths, typical high end builder design and upgrades, golf course and lake setting in gated neighborhood, 4 sided brick and stone in golf neighborhood in South Forsyth. This home listed by Beacham & Co and sold by Coldwell Banker was originally listed at $2,675,000 and was on the market just over a year.

Also in Forsyth County in 2009, the number 3 highest sale was in Creekstone Estates for $1,500,000. Originally listed for $1,685,000 this home was only on the market 4 months (gee, was it priced right I presume???). Number 4 was also a Lake Lanier home in Holly Hills on Tamiami Trail for $1,265,000, originally listed for $1,650,000 and on the market for 1.5 years. Number 5, also a Lake Lanier home in Deer Creek Shores sold for $1,200,000 after 4 years on and off the market originally listed at over 2 million.

Currently there are 137 homes on the market in Forsyth County over $800K with the most expensive being Le Reve on Trammel Road near Windermere for $28 million-wow it was just reduced $17 million so get there quick....ok, ok, it does have it's own private golf course and is on over 75 acres.

Here's hoping 2010 will be a better year for high end homes! And as always, pricing it right is the key.

FHA has announced some proposed forthcoming changes necessary to strengthen their capital reserves. The highlights are:

1. Up-Front MIP(Mortgage Insurance Premium) will increase from 1.75% to 2.25% .
2. Seller Contributions will decrease from 6% to 3%.
3. Update the combination of FICO scores and down payments for new borrowers.
   • New borrowers will now be required to have a minimum FICO score of 580 to qualify for FHA's 3.5% down payment program. New borrowers with less than a 580 FICO score will be required to put down at least 10%.

There is no word on when these changes shall take place. If you are currently looking for a home to take advantage of the Tax Credit you can be grandfathered in to the old FHA requirements if you have a property and your lender orders your case number. There are lots of homes for sale in Cumming, GA today. If you are looking for a home call today. I would be happy to answer your questions and get you in to your home in time to take advantage of the Tax Credit.

Cumming, GA has a lot to offer with many top award winning schools, close proximity to shopping, dining, and the best hospitals around.

Look for homes for sale in Cumming, GA by clicking here!