Wednesday, June 23, 2010

JUST LISTED!!! Brick bungalow home for sale in Ormewood Park - Atlanta, GA

And here it is!!!  Hottest new listing in all of Ormewood Park.  Four-sided brick bungalow on a corner lot in the heart of Ormewood Park! Enjoy the charm of a rocking chair side porch. Renovated in 2000 w/ new furnace, electrical, roof, master suite addition w/ double vanity bath, chef quality kitchen w/ recessed lighting, stainless appliances, gas cooktop. Jetted tubs in both bathrooms. Oversized eat-in kitchen. Arched doorways leading to and from banquet-sized dining room. Fireplace. Deck for entertainment overlooking a fenced backyard perfect for pets. Rare find -- secure parking in backyard. PRICED TO SELL FAST!!!

Posted via email from CondoMidtown -- Live...Own...Dream!

Friday, June 18, 2010

75% of loan modifications will end up in "re-default"

Are you still struggling after a loan modification? Or is your lender just completely unresponsive to your cries for help after months and months? Why not take advantage of the $3,000 Federal short sale incentive while it is available?
Most borrowers who have had their mortgages modified through a government-sponsored program will redefault within 12 months, according to a report released Wednesday.   Between 65% and 75% of loans that are modified through the Home Affordable Modification Program(HAMP) but not backed by the federal government are likely to go bad, according to the report released by Fitch Ratings, a N.Y.-based credit-rating agency. The main reason these borrowers continue to struggle is that HAMP does nothing to solve the rest of their debt problems, the report added.  “Many of these borrowers still have very heavy levels of other debt,” said Diane Pendley, a Fitch managing director, “auto loans, credit cards and other expenses.
The HAMP modifications reduce housing expenses down to 31% of income but do not touch these other obligations.”  Currently, according to the Fitch report, about half of prime borrowers who lose their homes now do so through foreclosure. The other 50% go through short sales, in which they sell their homes for less than what they owe the bank, or deed-in-lieu, a transaction where the bank takes back the property directly and forgives the outstanding balance.  The servicers have been encouraged to rev up their short sale engines by the Treasury Department, which runs HAMP and its sister program, Home Affordable Foreclosure Alternatives (HAFA), which provides cash incentives to the parties who agree to short sales.. Now, when borrowers re-default on HAMP mods or other bank workouts, banks are much more likely to offer help to execute a short sale or deed-in-lieu. 
Call me today...I know how to help get through the red tape and get you the $3,000 cash assistance!

Posted via email from CondoMidtown -- Live...Own...Dream!

Tuesday, June 15, 2010

Ansley Park condo for sale

Just went to a great caravan for a 2 bedroom condo in Ansley Park. Highly sought after garden-style building that rarely comes on market! Owned by a renowned Atlanta interior designer -- this place rocks!!
Sent from my Verizon Wireless BlackBerry

Posted via email from CondoMidtown -- Live...Own...Dream!

Friday, June 11, 2010

Short sale can be a battle... watch out for landmines!

A Smooth Transaction is everyone's goal.

You may not know this, but your REALTOR® is working very diligently behind the scenes to get your bank to approve your short sale. They are faxing and re-faxing the same documents to the same departments because the bank has lost the paperwork. They are waiting 40 minutes on the phone just to speak to a representative that is now answering questions about foreclosure dates and HAFA guidelines that last week was processing insurance payments for the Auto Division. They are keeping all these plates spinning and here’s a little checklist of things that you can be doing to minimize problems when your approval letter comes in.

Open your mail and read it.

The bank may have something important to say and they may be do that by mail. If you receive anything that is time sensitive or refers to a court action, please get that to your REALTOR® right away.

Be cautious on the phone

When the bank calls and you answer refer them back to your listing agent. They may ask you questions about terms that you may not understand and a wrong answer can stop your transaction dead in the tracks.

Please dont take your appliances or other attached items.

Remember you are handing your home over to a buyer that is excited about your home and loves it just the way they saw it. You aren't giving it to the bank. Be kind. If you didnt exclude it from your listing agreement it stays. Dont try to get money for those window shutters, door knobs, plumbing and light fixtures and most of all your appliances. You will have to replace anything that you sold, or find another buyer.

Pay your Home Owners Association Dues

Some banks are refusing to pay past HOA bills. If you don’t pay your bill as it comes, you may have to pay past due payments, late charges and attorney fees or court costs if they file a lien for non-payment. Your bill could end up being substantially higher for non-payment.

Pay your Home Owners Insurance

You still own your home. You are still liable if somebody gets hurt on your property. There is still the risk of fires, etc…

Resist the urge to spend your money.

You are probably not financially able to pay your entire mortgage but now have “extra” money each month. Resist, resist, resist buying those things that you have wanted or planning that dream vacation until after your home has closed. Save, save, save your extra money. Banks are frequently asking for cash contributions or owners to share the loss and contribute $5,000 to $20,000 to the transaction. Of course your Agent will try to negotiate that away or reduced, but you may need to bring in those funds. If they get it waived great, you will need a vacation. If they don’t it could kill your deal and instead of having a short sale on your credit report you may have a foreclosure. Instead of purchasing again in an estimated 2-3 years it could be 5-7 years.

Keep the Utilities on, especially if your home is vacant.

Turn down your thermostat for your furnace and hot water heater. Turn off the water valve that enters your house. Invest in an automatic timed light switch like your grandmother had to keep a light on at night. There are people that want to live in your vacant home at night. The banks are less likely to postpone foreclosures on vacant properties. They don’t want to risk the property being vandalized.

Landscaping…Just Do It or pay a teen ager.

Your neighbors and your agent will appreciate that. If you live in a community that has rules about upkeep they will fine you and call your agent over and over and over. Be kind and mow.

Swimming Pools

Put a lock on your backyard gate. Mosquitoes and Algae are big problems. Both are hazardous to kids and pets. If a pet or child falls into a dirty pool nobody may notice. Make sure you run your filter and add chlorine. You don’t want to have any harm come to anyone.

Thanks for listening. Thanks for being responsible. Now when the approval comes in you can be ready for that 30 day closing.

Thursday, June 10, 2010

Another great 2 BR condo deal under $200,000 in Midtown!!!

Coming soon....another unbelievable deal on a 2BR condo in Midtown Atlanta -- priced under $200,000!  Completely gutted in 2005, this 29th floor renovation is sure to please.  Schedule a pre-listing showing appointment today, since this home will be priced to sell quickly when it hits market next week!  Call J.D. Kellum at 404.307.7334 or email at

Posted via web from condomidtown's posterous

Tuesday, June 8, 2010

Video on the $3,000 Federal assistance for homeowners

This is the best explanation I've found to explain the $3,000 cash available if you are behind on your mortgage or think you may be soon!  I am certified to help homeowners find more dignified solutions to foreclosure!


Posted via web from condomidtown's posterous

Coming Soon!!! Revovated brick bungalow for sale in Ormewood Park!!!

New listing coming soon on this brick bungalow for sale in Ormewood Park!  This home is in final stages of preparation and will be priced for an immediate expect to find an incredible deal!  Charming 1930's era true 4-sided brick bungalow located in stylish Ormewood Park, just a 10 minute walk to East Atlanta Village and the parks and restaurants of Glenwood Park.  Corner lot with large back yard, complete with rocking chair side porch and back deck.  Completely renovated in 2000, with a new master suite and bath, walk-in closet -- which is highly sought after in homes of this time period!

Click here to see all homes for sale in Ormewood Park


Posted via web from jdkellum's posterous

Monday, June 7, 2010

"Sidelined Sellers" coming back to the game

So you thought you would "wait it out" and see where the market goes before selling your home?  Didn't want to compete against the short sales and foreclosures, so you sat back for just the right time?  Well, apparently untold millions of your likeminded compadres were thinking the same thing!  Looks like we will be getting ready for yet another form of inventory labeled "sidelined sellers" by the folks at Zillow.  These are homeowne who decided for a variety of reasons to do nothing because nothing was moving in their neighborhoods.  So... as quickly as we Realtors try and burn off excess housing build-up, economists are already predicting that this newest form of "shadow inventory" will work to keep housing prices pretty flat -- and we're talking about 3-5 years.  Was it worth the wait?  Call me today and I will share with you how to sell your home for 98% of asking price in 28 days!!!!

Posted via web from condomidtown's posterous

Sunday, June 6, 2010

Open House today at 2206 Hosea Williams Drive

Hey...come see me today at 2206 Hosea Williams Drive in Atlanta! I'm holding this gorgeous brick Craftsman bungalow open from 2:00pm - 4:00pm in Kirkwood. PLEASE pass this along to any friend who may be looking for a home in that area -- it's really in great condition at a great price!!!

Click here for more information on this brick bungalow in Kirkwood at 2206 Hosea Williams Drive in Atlanta.

Saturday, June 5, 2010

$3,000 cash assistance from government for homeowners in need!!!

Did you know that the government is offering $3,000 cash to help a homeowner move on and sell their home -- even if they are financially underwater?  It's called the HAFA program, and we have all the details!!  Fannie Mae and Freddie Mac just announced the introduction of their own HAFA programs. They’re both scheduled to be implemented by August 1, 2010, and the programs are very similar to HAFA in that they simplify and streamline the use of short sales. If you have missed at least one payment or about to miss a mortgage payment, call J.D. Kellum now at 404-307-7334...I can help you make $3,000 and move on with your life!!!


Posted via email from condomidtown's posterous

Wednesday, June 2, 2010

A Kirkwood gem in true Craftsman style -- bungalow for sale

Just listed this Bungalow for sale in Kirkwood. Totally renovated just a few years ago by one of the most reputable real estate investors in Intown Atlanta, this 2 bedroom/2 bath 1920's brick bungalow has a highly sought after 2 car garage of its very own! 2206 Hosea L. Williams Drive NE is located in the heart of Historic Kirkwood, and this classic charmer boasts:

  • Open floor plan with vaulted ceilings in the living area

  • Gourmet kitchen with granite, Jenn Air range, rich-toned cabinetry

  • Oversized dining room that comfortably seats 6 to 8 guests

  • Master bedroom with adjacent crisp and clean bath

  • Original hardwoods and crown molding throughout

  • 2-car garage (a rare find in Kirkwood!)

  • Rocking chair front porch

  • Large deck and fire pit for outdoor living at its finest

  • Lush and mature landscaped yard

  • Short walk to shops and restaurants of Kirkwood and Oakhurst Village

Priced to sell at only $230,000, this Kirkwood bungalow won't last long. To schedule a private tour by appointment, please call me at 404-307-7334.

Click here for information on this home or to view all homes for sale in Kirkwood.