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Foreclosures can be good deals for homebuyers, but with 1.5 million of them on the market, shopping carefully is important to guard against walking into a money pit, where you end up paying more for the home do to repairs or other problems.
Here are some tips for anyone navigating the foreclosure market:
1. Don't pay too much. You may think, "duh!" but with so many exuberant buyers, bidding up a property beyond its worth can be easy to do. Don't allow the thrill of competition sway you -decide on your maximum price point before the offer is even made.
2. Get to know the banks (or have a real estate agent who does). Practitioners who establish relationships with asset managers at banks can facilitate good communication.
3. Factor in fix-up costs. Most banks would rather sell a property as-is, meaning no repairs, no allowances, nothing. Buyers should consider what shouldering that responsibility will cost. Touring the properties with a contractor can be a good plan.
4. Bid smartly. A good real estate agent should help the buyer get the inside track by gathering as much information as possible about other bids.
Source: CNNMoney.com, Les Christie (11/19/2009)
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I'm a big house proponent, not as much a condo or townhome fan in Atlanta, Sandy Springs area. (I'll give you more details in another blog.) However, one feature many folks don't think about is how walk able is your home? Can you walk to anything? There's a great tool I found called WalkScore.
Just click on it and add an address. For instance, while I love my current community and the fact that I am nestled in the woods, I am not a good walk score. However, we do have good walk score neighborhoods. Garden Hills, located just east of Peachtree Rd can receive walk scores in the high 80's and low 90's (out of a possible 100.)
One of the other things I really like about the link, is that it shows you interactively restaurants, grocery, coffee houses, etc on a map from the house address you put in. You get a great visual of how far they are for the address you selected. Let's face it the number one reason people buy homes is the neighborhood and location. What a great tool to show that off in tangible terms.
I've used this so far with several buyers, printing out the WalkScore's of potential properties for international clients, who are much more used to walking places. They love that they know they can walk for items, the more the better in their minds. Now, my personal challenge to myself and other agents is to incorporate this into the listing and marketing data! What about you?
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Q: WHAT DOES $2.2M BUY IN SANDY SPRINGS?
A: ONE GORGEOUS, BANK-OWNED, NEW CONSTRUCTION, SIX BEDROOM FORECLOSURE MANSION IN TILLER WALK, SANDY SPRINGS, THAT WAS JUST REDUCED BY $1,000,000!

How long does it take to save $1M? Not very long if you get in line to submit an offer on a new construction Tiller Walk, Sandy Springs Custom Mansion with a price just slashed by $1M! This property is to be sold by auction on November 30th, however you can submit your offer early, directly to the seller BEFORE it goes to auction.
Call or text 404 409 5752 or email mischa.mileman@era.com to submit your offer today.
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November 11, 2009 by Lee Davenport (Edit)
Thank you to all those that have served this country in the military! Please take advance of these freebies designated to honor you as a veteran:
Applebee's Veterans Day Special offers free meals to veterans and active military members on Wednesday, Nov. 11. The restaurant asks that people offer proof of military service. Here is more information about Applebee's free meals on Veterans Day: http://www.applebees.com/vetsday/
Golden Corral will be holding its 9th annual Military Appreciation Monday Dinner on Monday, Nov. 16, 2009 from 5 p.m. to 9 p.m. Veterans and active military members will receive a complimentary dinner buffet and beverage. Golden Corral says that no ID is required for the service member. While family members are welcome to join, the free meal deal is limited to military personnel and veterans.
Happy Veteran's Day!
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Fulton County has received an additional supply of the H1N1 nasal spray vaccine to provide protection against the flu virus. The nasal spray vaccine is available for healthy 2-49 year olds with no out-of- pocket cost for the client. Sandy Springs residents can get their vaccine starting today between 10 a.m.-5 p.m. in Room 102 at the North Fulton Government Annex located at 7741 Roswell Road in Sandy Springs.

Room 102 at the North Annex is on the bottom floor where the old Business License office was located. There will be 8 public health nurses which will dramatically cut down on waiting time from the single nurse experience in the limited space that was available at the Sandy Springs Health Center on Johnson Ferry Road.
For more information about vaccine availability in Fulton County, log-on to www.fultoncountygahealth.org or contact the Georgia H1N1 Information Line at 1-888-416-1463
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