Kris Zugloff

Most Bank Foreclosures & HUD Requirements:

1. Valid Drivers License
2. Loan Approval Letter
3. Earnest Money Deposit
4. Signed GAR F4 & GA Licensed & HUD Certified Agent

1. Valid Drivers License
   You don't have to be a GA resident to purchase properties in GA.
   
2. Loan Approval Letter
   Unless you will be a cash buyer, you will need to talk to your bank or loan officer in obtaining a loan. With the current changes in lending requirements as well as 2008 changes in GA GAR forms and GA contract law, now more then ever is critical that you speak with reliable and knowledgeable loan officer. Avoid teaser internet ads. We can assist you in shopping for the best rate. Approval loan letter (not pre-approval letter) from trusted lender will push your offer before the others and give you negotiating advantage.
   
3. Earnest Money Deposit (EMD)
   Earnest Money is a deposit that accompanies the offer. Even that is not required by GA Law it is common practice to all GA Real Estate transactions. Earnest Money Deposit is negotiable between the seller and the buyer but most of the times its 1% of the asking price. Higher EMD shows buyer's strength and can help you negotiate better deal.
   
4. Signed GAR F4 and GA Licensed & HUD Certified Agent
   HUD requires all offers to be submitted by Licensed GA Real Estate Professional that have completed the HUD certifications in their state. Only HUD Certified Agents can open and show HUD properties to their clients. State law prohibits Broker from representing Buyer as a client without first entering into a written agreement with Buyer under O.C.G.A. § 10-6A-1 et. seq.(Form 4 of GAR)

Call me for more information 404-579-5889 or visit www.HotAtlantaForeclosures.com

I have just launched, I think by far, the most comprehensive foreclosure search for Metro Atlanta and surrounding cities.
Now you can search for all foreclosures in both MLS & FMLS for Residential, Condo/Town-Homes, Commercial, Multi-unit, Land/Farm and Developed Lots by Street, Zip, Subdivision, School District, MLS# and more. Also enjoy zoom options in bird view (Bing) and satellite mapping, school, demographic, crime area information and more. In fact, you will be getting the same information as myself when I search for foreclosures for a client. An additional feature is the option to save your searches and properties.

There are other websites that give the same information, but they make you pay tons of monthly fees, so I figured I'd design one that is completely free for my clients and close friends and is updated daily!

Here it is: www.HotAtlantaForeclosures.com ( if the link doesn't work , copy and paste in your browser.)

P.S. I am a REOS (Real Estate Owned Specialist) and certified to show and sell ANY of those foreclosures no matter what bank or institution owns them. So feel free to call me if you or a friend wants to see or buy any of them.

Also I'm taking my designation classes in (CBB) Certified Business Brokerage and (CCB) Certified Commercial Brokerage and will graduate in August this year. So if you are thinking of buying a business, shopping mall, piece of land and/or looking for a commercial lease, hold on for a few months, Im working on it :)

Kris Zugloff , REOS, NAR

Real Estate Advisor
Mobile: 404-579-5889
Fax: 770-579-4560
Better Homes & Gardens Metro Brokers
2157 Roswell Road NE, Marietta GA 30062

P.S A large part of my business is referrals. If you know anyone that needs my services, please pass my information along.

I don't have the tendancy of sending mass emails but I tought I make you aware of some data that has been quietly ignored and down played by the media. A disappointing new home sales report was more or less dismissed by the market.

• Sales of new homes fell unexpectedly in December, capping the industry's worst year on record and fueling concern that the housing market turnaround could falter.
• New home sales for December fell 7.6 percent to a seasonally adjusted annual rate of 342,000 from an upwardly revised November pace of 370,000. Economists surveyed by Thomson Reuters had forecast a pace of 370,000 for December.
• Last month's results were the weakest since March and were only 4 percent above the bottom last January. The data showed the housing recovery remains limp despite newly expanded tax incentives to spur sales.
• Only 374,000 new homes were sold last year, down 23 percent from a year earlier and the weakest year on records dating back to 1963. December's sales were nearly 9 percent below the same month last year.

Considering the population growth in the US since 1963, the figures point a very ugly picture despite countless national treasure thrown at the problem.
These times can be filled with opportunities. Did you know that in some areas you can buy homes for less then the dirt it sits on?

Combine this with:

• Low interest rates
• Federal Tax Credit of $8000 for first time buyers
• Federal Tax Credit of $6500 for existing homeowners
• GA Tax Credit of $1800 (most qualify, contact me to explain).

Unfortunately we have only untill Apr. 29th 2010 to take advantage of those government stimulus. Congress has already announced that the credits will not be extended. If you know anyone that is thinking of buying a house this year do them a big favor and forward them this announcement or pass them my contact information.

Kris Zugloff, REOS, NAR
Real Estate Advisor
www.zugloff.com
Mobile: 404-579-5889
Fax: 770-579-4560
Better Homes & Gardens Metro Brokers
2157 Roswell Road NE, Marietta GA 30062

P.S A large part of my business is referrals. If you know anyone that needs my services, please pass my information along.

This is a good article from the Atlanta Journal-Constitution HomeFinder by John Adams. It will give you a good prospective on the RE Market without all the statistical numbers and complicated text you will see on most other real estate publications. Hope you enjoy it.

TODAY's topic:
Signs of a Housing Recovery -
But Will it Last?

by John Adams
from the Atlanta Journal-Constitution HomeFinder

There have been several hopeful signs on the housing horizon recently, signs that the recession may have already ended, and possible signs that a housing recovery is, indeed, on the horizon. But it may be too soon to break out the champagne and caviar.

At its most recent open market committee meeting, the Federal Reserve issued a statement saying:

* the Fed believes that "economic activity is leveling out," which is Fed-ese for a belief that the worst of the recession is behind us, and that more normal economic growth lies ahead.

* In addition, the committee reports "conditions in financial markets have improved further in recent weeks." In other words, the stock market is showing a level of confidence not seen in the past two years, and that the central bank sees that as a positive sign going forward.

* "Household spending has continued to show signs of stabilizing" means that you and I are not as worried about everything as we were earlier in the year. In fact, the Bureau of Labor Statistics collects tons of data on what the average household spends on everything from food and housing to transportation and health care. The more we spend, the healthier the economy.

* Finally, Dr. Bernanke and the boys said they are anticipating "a gradual resumption of sustainable economic growth" and that they expect inflation to remain subdued "for some time." In English, that means they think interest rates will be low for a while and that cheap money will help the economy recover faster.

While it's hard to draw joy from any Federal Reserve announcement, this most recent communication was about as upbeat as one can expect from the typically conservative Open Market Committee. Couple that with the recent news of an upturn in new home construction, and we may have the makings of a recovery.

Why, you may ask, is the new home market so important? Here's your answer:

According to a 2008 study by the National Association of Home Builders, each new home built represents about three new jobs, and adds about $90,000 to local, state and federal coffers in the form of taxes, permits and fees. In contrast, the resale of an existing home adds far less to the economy. And according to government statistics, new home sales were up in July for the fifth straight month in a row.

Builders in metro Atlanta say that one important part of that recovery has been the Federal Tax Credit for First Time Homebuyers. It provides a direct cash credit of ten percent of a home's purchase price, up to a maximum of $8,000. But that program is currently slated to end on the last day of November, and no one knows how buyers will react.

Until then, let's keep the cork in the bottle.

This article first appeared in the Atlanta Journal-Constitution.

Homestead exemption

Kris Zugloff www.zugloff.com