Brandi Wells

The Rockdale Neighborhood Stabilization Program (NSP) was created to help slow the decline of neighborhoods where housing values and conditions are deteriorating due to the presence of foreclosed homes.

Program Overview:

To address the foreclosure problem, the NSP will purchase vacant foreclosed homes in targeted areas, make necessary repairs on the homes and sell the houses to eligible homebuyers. Eligible applicants, who select a NSP home, submit earnest money and an executed contract as well as complete the home counseling and NSP certification process, will receive a down payment assistance commitment up to $14,500 from NSP.

Eligibility:

Eligibility for NSP varies based on a multitude of family situations, including families as small as one person with an annual income of at least $25,100, to larger families with annual salaries of over $110,000. Any person, regardless of current residency or employer (government employees may apply) and meet the criteria in the application are encouraged to apply for assistance through the NSP.

Any person interested in purchasing a home through the Rockdale Neighborhood Stabilization Program may visit the County's website, www.rockdalecounty.org and follow the links to the NSP. Program Eligibility Applications also are available at the Information Desk of the Rockdale County Administration and Services Building, 958 Milstead Avenue, Conyers, Georgia 30012 as well as at the Nancy Guinn Memorial Library, 864 Green Street, Conyers, Georgia 30012.

The NSP will accept applications on a continual basis.

Completed applications along with your bank pre-approval letter for home loan financing may be mailed or hand delivered to the following:
Information Desk - Rockdale County Administration and Services Building

Attn: A. Cintron, Rockdale NSP

958 Milstead Avenue Conyers, Georgia 30012

Call 770-278-7551 for more details regarding participation in the NSP.

The text book definition of neighborhood is a district or locality characterized by similar or compatible land uses. Neighborhoods are often identified by a place name and have boundaries composed of major streets, barriers, or abrupt changes in land use.

Examples:

• Residential neighborhoods are often identified with a subdivision, an elementary school attendance zone, a major public facility, such as a college, or a small town within a larger urban area. Homes in the neighborhood are of similar style, age and value.
• Commerciall neighborhoods are generally associated with a major road, shopping center or central business district.
• Industrial neighborhoods are general identified by common use of a transportation linkage.

As a buyer, it is an excellent idea to get the local paper and familiarize yourself with neighborhood happenings. You can visit the board of education and schedule visits to local schools if you have school age children. Churches, city council meetings, festivals, welcome center and chamber of commerce are a few other stops that are good for observing and discussing neighborhood trends.

The text book definition of subdivision is a tract of land divided into lots suitable for home building purposes. Some states and localities require that a subdivision plat be recorded.

For buyers purchasing a home in a subdivision with a home owners association, a copy of the newsletter or a visit to the association meeting is advisable. Be sure to visit the subdivision on several occasions; night, day, weekend, holiday, etc. Also a call to the city and/or county police department for a request in the occurrences and reasons for dispatch can shed light on the most recent activity. Finding the fire department that is responsible for servicing your home, the closest hospital and shopping preferences are important too.

Drive around, get to know the area you will be calling home!

As with all industries, real estate professionals have developed a lingo and acronyms to help them communicate with each other more easily. For the first-time homebuyer (and even some veterans), making sense of property listings can sometimes leave you feeling like you're deciphering the DaVinci Code.

Many clients have asked for verification as to the meaning of some of this lingo. This also includes the categories or subcategories that are on the multiple listing service. Given the limited amount of space to type remarks, agents usually abbreviate as much as possible sometimes losing the real message.

Let's take a look at a sample real estate listing:

2,500 sf on a c-d-s, 2BR, 2.5BA, CA, spac grt rm w/ wbfp, grmet kit, det gar

Looks a lot like alphabet soup. However, using this type of abbreviated property description saves valuable advertising space. Some abbreviations you'll probably encounters are:

• AC or A/C: air conditioning
• BA: bathroom
• BR: bedroom
• CA: central air
• C-D-S: cul de sac
• DET: detached
• DK: deck
• EIK: eat-in kitchen
• F/FIN BSMT: finished basement
• FDR: formal dining room
• FP, frplc: fireplace
• GAR: garage
• GRMT KIT: gourmet kitchen
• GRT RM: great room
• HDW, HWF, Hdwd: hardwood floors
• HOA: home owners association
• LR: living room
• KIT: kitchen
• OFC: office
• PVT: private
• SF: square feet
• SPAC: spacious
• VW, VU: view
• WBFP: wood-burning fireplace

In addition to the abbreviations in property listings, here are a few other common terms you should become familiar with.

FSBO-For Sale By Owner. This term refers to a property which the homeowner is trying to sell independent of a real estate professional.

MLS-Multiple Listing Service. MLSs are comprised of a group of real estate brokers who have agreed to share their property listings. This listing is then provided to the group through a database or directory. If you are buying your home, this is the service that your sales professional will use to search for potential homes for you to purchase. If you are selling your property, your real estate professional can list your home through the MLS. For-Sale-By-Owner (FSBO) properties are typically not listed through the MLS.

CMA-Comparative Marketing Analysis. This analysis is an informal assessment of a property's market value. This is one of the tools your real estate professional can use to help you determine a reasonable listing price. Usually, the CMA compares your property with similar properties that have sold in your area within a certain time frame. Besides purchase price, some of the information typically listed is the number of bedrooms and baths, size of major rooms, amenities such as fireplaces and pools, age of the home, and property taxes.

During the real estate process, you'll more than likely come across more acronyms and lingo. Make sure you ask your real estate professional to explain any terms you are unfamiliar with so that you are not in for any surprises.

By the way, the listing above was a 2,500 square-feet home on a cul-de-sac, with two bedrooms and two and a half baths, central air, a spacious great room with a wood-burning fireplace, and a gourmet kitchen and detached garage.

For many, retirement is a time when people shift priorities and put their own needs first. One of the most important choices they need to make is where to live in retirement. Choosing the right community and home is an important and challenging decision.

Ask yourself, do you want to:

• Remain in the home you occupied before retirement?

• Remain close to your present community, but move to a different home?

• Move to another county or state, or to a different climate?

• Move into your present vacation property?

Where to Live

If you lean toward moving to another region, start reviewing options based on general climate, seasonal changes, lifestyle, and proximity to family and friends.

For example, the Southeast is becoming a popular destination. It has more temperate climates than the Northeast, and golf and outdoor recreation are abundant. The region offers a wide range of living environments from which to choose: coastal, mountain, woodland, rural, and both planned and urban communities. But, while Florida has almost year around sunshine, the Carolinas offer seasonal change.

Many people choose to live where they play. If finances allow it, some may consider the owning two or more homes so they can change their address along with the seasons. This is one of the reasons why second home sales have increased dramatically over the past few years.

When you've narrowed it down to a few possible destinations, compare them on the basis of these factors:

Financial

• Estimate the income you'll need to retire in that area

• Evaluate your resources and tax consequences

• Speak with your financial advisors about how long your retirement resources can last in any given area

Housing

• Research average home sale prices and cost of living in areas you like

• Factor in costs such as property taxes and utilities.

Climate

• Review summer and winter comfort factors, such as high temperatures, humidity, or snow and ice.

• Look at psychological factors such as excessive cloudiness or rain or fog.

Personal Safety

• Research violent crime and property crime rates in areas you like

• Find details in the FBI's Crime Index, and local police departments.

Services

• Investigate the supply, availability, and quality of health care, public transportation, and continuing education in each area.

Employment

• Evaluate the potential for pursuing a part-time or full-time second career.

Leisure Living

• Find out if the area offers the variety and quality of restaurants, cultural events, and recreational activities you want

When researching your options, you may want to start with the Internet, where there is a wealth of information. Other resources include your local library, trade associations such as the American Association of Retired Persons (AARP), local organizations in the areas of interest, visitor bureaus, Chambers of Commerce, local newspapers and vacation guides.

Retirement can be the best time of your life. Be sure to plan it wisely.

It is extremely important for you to have the home that you plan to purchase professionally inspected. The basic process involves a home inspector who is hired by the buyer to perform a thorough investigation of the structure and systems on the buyer's behalf. The inspection typically takes from 2 - 4 hours and should consist of a check of at least the following items:

• Interior & Exterior
• Systems: Heating & Air, Electrical and Plumbing
• Foundation and Grounds
• Foundation
• Structure including Roof & Attic

It is not necessary that you be at the home during the entire inspection. However, I recommend that you schedule it so that you can arrive during the last 20-30 minutes and allow the inspector to physically show you each of the defects or conditions derived during the inspection. The report provided will outline the entire inspection but I've found it's much easier for you to understand and feel comfortable about your purchase if you have the opportunity to ask questions specifically about each item while you are standing in the home.

Below are some questions to ask as you interview inspectors. This is another cost of buying a home and you want your money to be well spent.

1. What are your qualifications? Are you a member of the Georgia Association of Home Inspectors, American Association of Home Inspectors or National Association of Home Inspectors?

2. Do you have a current license? Inspectors are not required to be licensed in every state.

3. How many inspections of properties such as this do you do each year?

4. Do you have a list of past clients I can contact?

5. Do you carry professional errors and omission insurance? May I have a copy of the policy?

6. Do you provide any guarantees of your work?

7. What specifically will the inspection cover?

8. What type of report will I receive after the inspection?

9. How long will the inspection take and how long will it take to receive the report?

10. How much will the inspection cost?

It's a good idea to interview 2 or more professionals for any job you are considering. Cost is also not the driving factor; a thorough inspection with complete details of repair or replacement items is the goal. Spending hundreds to do the inspection can save thousands down the road!