Atlanta, GA Real Estate

Atlanta, Georgia’s capital city and a major Southern financial and creative hub, remains a city of the future and one of the top five cities for relocating young professionals to call it their home. Atlanta’s strategic location in the foothills of the southern Appalachians in north-central part of Georgia, its mild climate, physical beauty and job prospects have been instrumental in attracting large numbers of settlers making it a sought-after destination for home owners. The average estimated value of a home in Atlanta, GA was $274,281 in May 2009, up 0.05% from April 2009. Currently Atlanta has an average listing price for homes for sale of $444,954.

Atlanta comprises of two County Areas: 10 County Region, covering Clayton, Cherokee, Henry, Cobb, Douglas, DeKalb, Fayette, Gwinnett, Fulton, and Rockdale counties; and a 20 County Area including Barrow, Carroll, Bartow, Coweta, Hall, Forsyth, Newton, Spalding, Paulding, and Walton counties. The County Regions are home to several cities and communities like Acworth, Douglasville, Alpharetta, Fayetteville, Marietta, Kennesaw, Milton, Powder Springs, Peachtree City, Roswell, Smyrna, Sandy Springs, and Woodstock. How about investing in Marietta? It is at a distance of 15 miles from Atlanta downtown area and is reputed as one of the largest suburban regions of the metro area. Whether you are a first-time buyer or a pro at real estate, Marietta offers a choice just for you.

Given the current situation, one thing is certain – the Atlanta metro area still has an over-supply of homes for sale due to an abundance of new homes, Atlanta properties that are up for foreclosures, difficulty in availing loans and an overwhelming number of houses, be it simple apartments or large estates. Real estate is soft at present, but the Atlanta real estate market has been not been affected by many of the national changes. It’s a great time to buy a home condo or town home in Atlanta; in short, this is perhaps the right time to negotiate your next new home with an experienced Atlanta real estate agent. The chief advantage of opting for Atlanta real estate is that while in other US locations a large property price could scale up to millions, here it is within the comfortable zone of $200,000. Atlanta’s cost of living is also equitable with the national average, leaving the people with enough to take off on vacations, enjoy nightlife and explore the city’s cultural wealth!

Advertisements in the dailies published locally are considered to be the largest expenditure incurred by Atlanta realtors. However, today Atlanta homes are also within visibility range, thanks to the popular home search or listing services on the internet; advertisements on the radio and television, and catalogues of Atlanta real estate. Good news is on the horizon with recession showing signs of waning and housing prices once again picking up ensuring that your new home will appreciate in value as the years go by.

Atlanta Real Estate Law

The main idea behind the formulation of Real Estate Laws is the protection of public interest. This license law pertaining to real estate in Atlanta has been in place for a very long time, since 1926 to be exact. Some changes were effected in the law in 1999. The headquarters of the Georgia Real Estate Commission is in Atlanta.

For either buying or selling a house in Atlanta you will need to use the services of a broker. The broker’s commission is generally paid by the seller.

People do not step into the property market with ready cash in hand. Most home buyers need to borrow money in order to purchase their home. Even people who have enough assets to liquidise and finance a new home go in for financing deals as in the long run the returns on the money are better as real estate appreciates pretty fast. At times tax relief is a main reason for going in for a mortgage. The home loan taken by property buyers is called a “mortgage.” Generally, a mortgage is a loan of money to the home owner secured by a “lien” on the real estate. The law provides for issues like non payment of mortgages, foreclosure and the like.

Rules regarding the fine details of mortgage deals are laid down specifically by law. There are basically three types of mortgage options. A fixed rate mortgage carries an interest rate that remains fixed throughout the term of the mortgage. The second option is the adjustable rate mortgage that carries an initial fixed rate of interest. And after a fixed time interval the rate of interest reflects market trends. The third option is a balloon mortgage under which after a fixed monthly payment for a fixed time period the balance becomes payable all at once. Generally those who do not qualify for the first two types of mortgages opt for this one. And when the fixed time period is over they go in for refinancing the mortgage. Another option available is referred to as the home equity loan. Under this a floating rate of interest over a period of time is applicable.

Direct lenders such as banks and other financial institutions offer loans. The applicant’s ability to pay back the loan is assessed and once all formalities are completed the loan comes through. Getting the best interest rates will however need some homework as rates vary from bank to bank and region to region. A good place to get mortgage related information would be [http://www.iown.com].

Fix Your Credit Before Applying For a Loan

If you know you have a very low credit score, and perhaps a nasty looking lend report, you could yearn to do some research on repairing your credit, before applying for a Home Loan. While repairing your spoiled lend is no easy task, it’s something that you can do yourself, apart from paying a credit repair business or getting involved in one of the many credit repair scams out there.

Be warned, there is no easy fix. Improving your lend study legitimately does take time, a purposeful effort, and strict adherence to a personal debt repayment plan. However, once your credit is improved or repaired, you may be able to qualify for a Home Mortgage.

According to the Franchise Tax Board, first, you will yearn to acquire an up-to-date copy of your lend report.
If a business takes “adverse action” against you, like denying your application for credit, insurance, or employment, you’re entitled to a free lend report. Your request must be made within 60 days of receiving observe of the action.
If you’re unemployed and plan to look for a job within 60 days, you’re also entitled to one free credit report, per year.

If you’re on welfare or if your study is inaccurate because of fraud, including identity theft, you are also entitled to one free credit report per year.

How to Request a Copy of your Credit Report

Equifax, Experian, and TransUnion are the three nationwide consumer reporting companies. If you ask for your credit report, they are required to provide you with a free duplicate once every 12 months.

You can also call 1-877-322-8228
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

How to Repair your Own Credit

To correct or repair facts on your credit study that is incorrect, you will want to write the consumer reporting companies listed above. The Franchise Tax Board advises the following: “Include copies (NOT originals) of any documents that support your position. In addition to providing your complete name and address, your letter should identify each item in your report you dispute; state the information and the reasons you dispute the information, and ask that it be removed or corrected. You may want to enclose a duplicate of your report, and circle the items in question. Send your letter by certified mail, with a return receipt request so you can licence that the consumer reporting company received it. Keep copies of your debate letter and enclosures.”

What If the Negative Information on My Credit Report is Accurate

Unfortunately, in this case, the only way this facts can be removed is via the passage of time. Use the following time table to calculate how long this facts will remain on your credit report:

– Most accurate negative information: Seven years from the date the drill took place.
– Bankruptcy information: 10 years from the date the bankruptcy took place.
– Unpaid judgments: Seven years or until the statute of limitations runs out, whichever is longer.
– Criminal convictions: no time limit, may never be removed
– Information reported in response to your application for a job that pays more than $75,000 a year also has no time limit.
– Information reported because you’ve applied for more than $150,000 value of credit or life insurance: no time limit.

Where to Turn If You Need Help

Just because you have a failing lend score or a dreadful credit study doesn’t defaming you can’t acquire credit. Every creditor has their own set of standards, and views credit scores and reports uniquely. If your recent bill payment history has been improving, this can earn you some credit worthiness. Some creditors may look only at recent years to appraise you for credit.

If you are looking for help adhering to a allot and making your payments on time, in a consistent fashion, you may yearn to try to work out a repayment plan with your creditors, or you might take into account contacting a credit counseling organization.

All this hard work is ultimately a huge step towards financial freedom, and being able to get a loan to buy a home or Refinance a home you already own.

For more information, visit the FTC’s website.