Alpharetta GA is a city in located in north Fulton County, Georgia, 26 miles form the city of Atlanta via the GA 400. The estimated 2008 Alpharetta's population was 49,903. Alpharetta began as a campground, originally known as New Prospect Camp Ground until late 1858. Officially chartered on December 11 1958. The name 'Alpharetta' (supposedly Greek for "first town") served as the county seat of Milton County until the end of 1931 when Milton was merged with Fulton County to avoid bankruptcy during the Great Depression.
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Need a mortgage, and have bad credit? You can probably still get a loan, but you are going to pay dearly for it. A loan officer explained the rating system for mortgage rates based on FICO or credit scores and the cost to borrow. While we are used to buyers shopping different lenders for loans, a lot has changed in just a short time. It may be pointless for buyers to shop for better rates if their credit is not the best under this system. It may be like a dog chasing their tail and going nowhere especially if they have bad, damaged or impaired credit. Investors have implemented, "Risk Based Adjustments." Simply stated "Risk Based Adjustments" is the relationship between the an individuals credit score and the loan to value. The higher the credit score the better the LTV. An example: a customer with a 740+ MID FICO will get the best Loan to Value (LTV) adjustment, 95% LTV with no hits to the rates. As the FICO score of the individual applying for the loan goes down so does the Loan to Value, 680-699 scores will be limited to a 90% LTV and a .75 hit to the rate. The lowest acceptable score that will be accepted is the 620 - 639 scores, and even though you can still get the 90% LTV, there is a whopping 2.75 hit to the rate. This confirms that investors are willing to lend, but the customer will pay for it. I thought this was very interesting, and even though I do not make loans, I like to keep abreast of the current trends.
I am anxiously counting down the moments to the Real Estate bar Camp RDU in Cary NC forward this coming Friday November 6, 2009. I will arrive with my wife Ellen tomorrow evening. I look forward to meeting a lot of new friends and Active Rainers I've not met in person yet! Although I've spone at many reale state conventions, retreats and office get togethers, this will be my first Real Estate bar Camp. I will be participating as a Thought Leader and will be doing a session entitled "Strategizing Internet Profit with Website & Real Estate Blogging" This will be a basics session that will start with the fundamentals of a successful real estate web business in everyday plain language. I am sure I will learn a lot from this session.
There are so many novices in real estate today that only understand credit and financing. Forget that for a moment. Financing is harder to get these dasy becaus of rising unemployment, underemployment, and more scutinay from lenders that do not want to take on risk. However, there are still quite a few buyers with cash. Some of these are investors, and persons that feel the money is safer in something that is tangilble like real estate as oppsed to a soft assets in stocks, securities, bonds, and in the banks. So if you have not worked wiht a cash buyer, you need to get ready. Prepare your sellers, let them know that they are not going to offer you full price. You are now dealing with educated buyers that know the true value of properties. They will make a lower bid to test the market, however do not make the fatal mistake of rejecting the offer outright. Counter the cash buyer with a reasonable counter that shows you are willing to negotiate. Do not posture and counter back with a full price offer. It may be your only offer in this market.
Some caveats in dealing with a cash buyer? Yes, of course there are! They tend to be riskier deals if you do not understand the process, and do your homework! They love dealing with new agents, because they can manipulate them because of their lack of knowledge.
Looking for an Atlanta Country Club home for sale? Do you want a great deal? Have you always wanted to buy an Atlanta luxury homes or mansion? Well your wait is over! There may never be a better time to buy an Atlanta country club homea, golf homes or luxury homes than now! Why? Because right now there are quite a few homes for sale in some of Atlanta's finest Country Clubs! It's a buyers market with some great buys for smart luxury home buyers. Some of the Atlanta luxury country club homes are new, have finished basements, swimming pools, luxury foreclosures homes, bank owned homes, that are vacant and have major price reductions, discounts, and buyer incentives to buy! There are some incredible deals for sale right now in Atlanta's best luxury homes gated communities. As of today November 3, 2009 these are the luxury homes currently offered for sale in Atlanta's finest country Clubs:
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