Freddie Mac Announces Up to 12-Month Forbearance for Unemployed

18 01 2012

Effective Feb. 1, Freddie Mac is giving mortgage servicers expanded authority to provide six months of forbearance to unemployed mortgage holders without prior approval, and an additional six months (12 months total) with prior approval. This new policy essentially doubles the previously offered forbearance period.

It’s important to note: This applies to Freddie Mac-owned or guaranteed loans only. There is ACTION required. The homeowner must contact the servicer to request the forbearance. Delinquent borrowers in an existing short-term forbearance plan can be evaluated for an extended forbearance term under the new policy. Again, homeowners will need to contact their servicer to apply.

For more information, watch Alex Charfen’s (CDPE founder and CEO) latest Video Blog Post!  If you would like to discuss your options, please give me a call at 770-356-4656.


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Gwinnett Home Sales for December 2011

9 01 2012

The following table has been updated with December figures for Gwinnett County

Remember, your real estate values are local to your area.  If you have any questions about what your home is worth, please go to www.GAHomePrices.com, fill in the requested information, and I will be happy to put together a report especially for you.

If you find yourself in an “upside down” situation on your mortgage (you owe more on your mortgage than what it’s worth) and you are not sure what your options are, go to www.GAMortgageHelp.com, submit your information and I’ll be glad to send you free information regarding your options.

Have a Great Week!  – Joan Boudreau-Alexander, 770-356-4656, JoanRealEstate1@gmail.com


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Categories : Gwinnett County, Market Statistics, Uncategorized

Gwinnett Home Sales for November, 2011

13 12 2011

The following table has been updated with November figures for Gwinnett County.

Remember, your real estate values are local to your area.  If you have any questions about what your home is worth, please go to www.GAHomePrices.com, fill in the requested information, and I will be happy to put together a report especially for you.

If you find yourself in an “upside down” situation on your mortgage (you owe more on your mortgage than what it’s worth) and you are not sure what your options are, go to www.GAMortgageHelp.com, submit your information and I’ll be glad to send you free information regarding your options.

Have a Great Week!  – Joan Boudreau-Alexander, 770-356-4656, JoanRealEstate1@gmail.com


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Gwinnett Home Sales for October, 2011

10 11 2011

The following table has been updated with October figures for Gwinnett County.Remember, your real estate values are local to your area.

If you have any questions about what your home is worth, please go to www.GAHomePrices.com, fill in the requested information, and I will be happy to put together a report especially for you.

If you find yourself in an “upside down” situation on your mortgage (you owe more on your mortgage than what it’s worth) and you are not sure what your options are, go to www.GAMortgageHelp.com, submit your information and I’ll be glad to send you free information regarding your options.

Have a Great Week!  – Joan Boudreau-Alexander, 770-356-4656, JoanRealEstate1@gmail.com


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Gwinnett Home Sales for September, 2011

10 10 2011

The following table has been updated with September figures for  Gwinnett County.

Remember, your real estate values are local to your area.  If
you have any questions about what your home is worth, please go to www.GAHomePrices.com, fill in the requested information,
and I will be happy to put together a report especially for you.

If you find yourself in an “upside down” situation on your
mortgage (you owe more on your mortgage than what it’s worth) and you are not
sure what your options are, go to www.GAMortgageHelp.com, submit your
information and I’ll be glad to send you free information regarding your
options.

Have a Great Week!  – Joan Boudreau-Alexander, 770-356-4656, JoanRealEstate1@gmail.com


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Gwinnett Home Sales for August, 2011

16 09 2011

The following table has been updated with August figures for Gwinnett County. 

Remember, your real estate values are local to your area.  If you have any questions about what your home is worth, please go to www.GAHomePrices.com, fill in the requested information, and I will be happy to put together a report especially for you. 

If you find yourself in an “upside down” situation on your mortgage (you owe more on your mortgage than what it’s worth) and you are not sure what your options are, go to www.GAMortgageHelp.com, submit your information and I’ll be glad to send you free information regarding your options.

Have a Great Week!  – Joan Boudreau-Alexander, 770-356-4656, JoanRealEstate1@gmail.com


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Gwinnett County Home Sales for May 2011

6 06 2011

The following table has been updated with May figures for Gwinnett County.  Sales are down only 2.5% from last year. 

Remember, your real estate values are local to your area.  If you have any questions about what your home is worth, please go to www.GAHomePrices.com, fill in the requested information, and I will be happy to put together a report especially for you.  Have a Great Week!  – Joan Boudreau-Alexander, 770-356-4656, JoanRealEstate1@gmail.com


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Gwinnett County – More on Appealing Your Property Taxes

26 05 2011

By now all property owners in Gwinnett County should have received their Annual Notice of Assessment, which was mailed out to all Gwinnett County residents on April 15, 2011.  If you did not received this notice, have additional questions, or would like to start your appeal process, you can log onto:

http://gwinnettassessor.manatron.com/eFileSystem/AppealPT311.aspx        

Due to the decline in property values in recent years every property owner is being given the opportunity to appeal the value that the county has placed on their property. This is the value that the county uses to determine your property taxes.  If you think your property value is lower than what is stated on the notice, follow the instructions on the notice to begin an appeal. The deadline for submitting your appeal is May 31, 2011.

You will be asked to state what you think your property is worth. If you recently re-financed, you may be able to get an estimated property value from your lender. If you recently purchased your home, the purchase price is probably your best indicator. If you are not sure, go to www.GAHomePrices.com  or give me a call @ 770-356-4656, and I’ll be happy to provide you with a Market Analysis of your neighborhood and help you determine the current value of your home.

Please check with your county’s assessment procedure, as mail out dates and response times may vary from county to county.

I encourage you to contact Gwinnett County Tax Assessor’s office @ 770-822-7200 if you have additional questions. If your property is not located in Gwinnett County, please check with your county’s assessor’s office.

I, personally, have had success with this appeal process and had my property taxes reduced last year and I submitted an appeal again this year.

Please remember that I am here for you to assist with ALL of your real estate needs! If you know of anyone who is considering buying, selling, or investing, please be sure to let me know, so that I can provide them with exceptional customer service.

Thank You. Joan Boudreau-Alexander, JoanRealEstate1@gmail.com, 770-356-4656


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Gwinnett County April 2011 Home Sales

10 05 2011

The following table has been updated with April figures for Gwinnett County.  Sales are down 19% from last year. 

 

Remember, your real estate values are local to your area.  If you have any questions about what your home is worth, please go to www.GAHomePrices.com, fill in the requested information, and I will be happy to put together a report especially for you.  Have a Great Week!  – Joan Boudreau-Alexander, 770-356-4656, JoanRealEstate1@gmail.com


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Question About Appealing Property Taxes in 2011

25 04 2011

Gwinnett County mailed 256,000 residential notices of current assessment on Friday, April 15, 2011. About 100,000 of the notices are showing a decrease in value, averaging about 23 percent. In total, Gwinnett’s residential properties have lost about $3.3 billion in fair market value county-wide since last year.

I had someone send me a question that I thought was definitely worthy of noting and attempting to answer it.

On our Annual Notice of Assessment, it tells you at the time of filing your appeal, you must select one of the following:

(1)   Appeal to the Board of Equalization (BOE)

(2)   Do an arbitration

I think it’s best to do the BOE rather than arbitration and here’s my reasoning.   Arbitration is final, no appeal, the end of the road, so to speak.  At least with the BOE, you have an appeal route, not that many of you will use the appeal route, but at least, it’s there.  If you don’t like what the BOE has said, you have that option to take it to the Superior Court.

 If you do want some help estimating your market value, go to www.GAHomePrices.com to fill out your information.  Have a great day!  – Joan Boudreau-Alexander, 770-356-4656, joanrealestate1@gmail.com


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Appealing Property Taxes in Georgia in 2011

14 04 2011

Starting this year, all Georgia counties are required to mail out an “Annual Assessment Notice” around April 15th to all of their property owners.  After receiving them, owners will have 45 days to file a written objection with the Board of Tax Assessors.   

 Step 1: File appeal with Board of Tax Assessors within 45 days of Annual Notice of Assessment. State explicit grounds for basis of appeal.   Feel free to contact me for sales data in your neighborhood.

 

All property is valued on January 1 of any given year. Only sales prior to January 1 of the given year will be considered in the Board of Equalization hearing.  In addition, recent legislation in Georgia now requires county officials to consider foreclosures and bank sales in their calculations for tax assessment purposes.

 

Step 2: The Board of Tax Assessors will review your appeal. If changes or corrections are made by the Board of Tax Assessors, the taxpayer shall be notified.

 

Step 3:  If the appeal is not resolved in Step 2 and if the taxpayer is not satisfied with the changes or corrections, the taxpayer shall, within 30 days of the date of mailing the change notice, institute an appeal to the Board of Equalization.

 

Step 4: Within 15 days of receipt of the notice of appeal, the BOE will set a date for a hearing within 30 days of the notice date.

 

Step 5: There will be a hearing in front of BOE where a decision will be made at the conclusion of the hearing.

Step 6: If you are displeased with the result of the hearing from Step 5, you can appeal any decision by the BOE to the County Superior Court within 30 days.

 Providing this type of value-added service is both an honor and a privilege and thank you for allowing me to serve your real estate needs. If you know anyone that is interested in buying, selling, or investing in real estate, please be sure to let me know.  It is my goal for you to feel comfortable in sharing my services with your friends and family.

 If you would like your neighborhood sales data, go to  www.GAHomePrices.com.  Thank You. – Joan Boudreau-Alexander


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Gwinnett County Homes Sales Updated Through March 31, 2011

5 04 2011

 

The following table has been updated with March figures for Gwinnett County.  Sales are down 12.9% from last year. 

Remember, your real estate values are local to your area.  If you have any questions about what your home is worth, please go to www.GAHomePrices.com, fill in the requested information, and I will be happy to put together a report especially for you.  Have a Great Week!  – Joan Boudreau-Alexander, 770-356-4656, JoanRealEstate1@gmail.com


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3 Reasons the Term “Strategic Default” Is Misleading

8 03 2011

In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from your mortgage—if they were underwater (owed more on their home than what it was worth).

Now that more than one in four American homeowners is “underwater,” I feel that it’s important for the community to know the truth about strategic default.

The truth is the foreclosure process carries with it credit issues, current and future employment challenges, issues with security clearance and possible debt collections.

That’s why it is vital to explain the 3 reasons why the term “strategic default” is misleading:

  1. There’s nothing strategic about defaulting on purpose, especially when you have options like short sales, mortgage modifications, and refinance (just to name a few) that may keep you from foreclosure.
  2. The waiting periods to apply for a new mortgage loan are at least five years less in a short sale vs. a foreclosure.
  3. A foreclosure will show up on your credit report every time you apply for a home loan, car loan, new job, etc., and will affect your financial situation for many years to come.

If you are underwater and can no longer afford your mortgage payments, you need to create a genuine strategy to avoid foreclosure, helping to provide stability for you and our community.

If you have any questions about what steps you or someone you care about should take next, contact me today at 770-356-4656 or go to my website and download free information at www.HelpingHomeownersInGA.com.

IMPORTANT GOVERNMENT DISCLOSURE: You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you will not have to pay us for our services. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.


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Gwinnett County Homes Sales Updated Through February 2011

7 03 2011

The following chart has been updated to reflect all of February 2011 for Gwinnett County, GA.  These numbers include the number of sales for single family detached homes in Gwinnett County.  They do not include condo’s or townhomes. 

Homes sales were up from last month, but still down from a year ago.  Average sales price really dropped in February.  This average sales price tells us that the lower priced homes are what are selling.  And, in fact, to support this, I looked at the months of inventory in Gwinnett County for different prices ranges. 

For example, homes priced at less than $100,000, there is only 7 months of inventory.  What that means is that if no additional homes came on the market, it would take 7 months to absorb the inventory currently on the market.  A balanced market is typically 4 – 6 months of inventory.  Anything over 6 months is considered a “Buyer’s Market”.  In the $450,000 – $500,000 range, the months of inventory stands at 20 MONTHS!  Again, that means that the higher priced homes are not selling as well as the lower priced homes.

If you have any questions about what your home is worth, please go to www.GAHomePrices.com, fill in the requested information, and I will be happy to put together a report especially for you.  Have a Great Week!  – Joan Boudreau-Alexander, 770-356-4656, JoanRealEstate1@gmail.com


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Case Shiller Price Index – Metro Atlanta Area

28 02 2011

The last Tuesday of each month, the S&P Case Shiller Price Index releases their numbers on home prices.  February 22, 2011 indicated if you lived in either San Diego or Washington DC, you would have seen year over year prices increases of 1.7% and 4.1% respectively.  The other 18 cities that this index follows were negative.  Metro Atlanta, Georgia unfortunately had a -8.0% year over year decline putting us in the bottom 3 cities with the most declines in our property values. 

In the Atlanta area, prices were down only -0.2% for December/November 2010; down -1.5% in November/October 2010.  I know none of this sounds good, but I still see the “rate” of decline slowing, which means our prices may be stabilizing in our area.

 

Please remember that real estate is local, local, local. So, just because the Metro Atlanta Geogia numbers are still showing a decline, that doesn’t mean that it’s still declining everywhere and in every neighborhood.  It really depends upon how many foreclosures and short sales are happening around you. If you are interested in your home values in your neighborhood, call me or go to www.GAHomePrices.com.   Have a Great Week!  – Joan Boudreau-Alexander, 770-356-4656, Realtor, CDPE


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Gwinnett County Home Prices Trends

25 02 2011

Here’s an interesting chart that shows just Gwinnett County Home Sales for the last 2 years.   As you can see, it is divided into (1) Regular Market Sales, (2) Bank/Govt Owned Sales, and (3) the number of foreclosures.

One easy trend to see is that the number of foreclosures was way down for December 2010.  We would expect that since most banks put a moratorium on foreclosures during the month of December.  It’s interesting to see there were more bank owned sales than regular market sales several months.

 I was particularly interested in just last year (2010), so thought I would chart these monthly numbers from the Real Valuator chart into an Excel spreadsheet, so I could do some further evaluation (by the way, these charts are available for most other counties in the Metro Atlanta area.  Feel free to send me an email if you would like to see another county). 

  2010 Bank/Govt Sales Market Sales Total Sales % of Govt Sales to Total Sales # Foreclosures
January 298 428 726 41.05% 571
February 351 506 857 40.96% 390
March 489 590 1079 45.32% 603
April 524 745 1269 41.29% 943
May 531 825 1356 39.16% 605
June 575 913 1488 38.64% 639
July 494 657 1151 42.92% 709
August 542 649 1191 45.51% 617
Sept 637 581 1218 52.30% 1002
Oct 733 551 1284 57.09% 680
Nov 626 441 1067 58.67% 447
Dec 642 569 1211 53.01% 329
           
Yearly Totals 6442 7455 13897 46.33% 7535
           
  46.36%       54.22%

 

I added another column because I wanted to see what percentage (%) of sales was bank/govt owned.  This tells us that on average, in 2010, 46.33% of total sales in Gwinnett County were bank/govt owned sales! Wow ….  And, to think that this would not include short sales, which is another type of distressed sale.  A short sale is when the seller owes more on his home than what it is worth.  In this chart, it would show as a normal market sale; however, it’s another type of distressed sale very common today.

What else do these numbers mean?  It concerns me that there was a total of 7,535 foreclosures in Gwinnett county in 2010 and 6,442 were sold.  Does this mean that our total sales are not keeping up with the number of foreclosures that are coming on the market?  I also think that this trend will continue throughout 2011 and beyond, maybe, at least a couple more years.

Thinking of selling and want to know what your home is worth?  Go to www.GaHomePrices.com.  Happy Friday to Everyone! – Joan Boudreau-Alexander, 770-356-4656  email: joanrealestate1@gmail.com


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Filing for Homestead Exemption

18 02 2011

Homestead exemption helps to reduce the amount of property taxes you have to pay.  Typically, you only have to file one time and it’s good for the rest of the time you own your home.  And most of you have probably already filed for homestead exemption.  However, there are exceptions to that rule, so please read on to make sure you don’t get caught with excessive property taxes.

If you have not already filed for homestead exemption, you must file no later than April 1st to apply to current year for most counties including Gwinnett, Fulton, DeKalb, Cobb, Clayton, Cherokee, Forsyth, Douglas, and Paulding counties.  Jackson county’s deadline is March 1st.

Homeowners may need to provide their social security number, driver’s license and car tag info when filing.  It’s best to review the folloiwng rules and other tips if you have had any changes in the last year.  I was surprised about having to RE-file for homestead exemption in certain instances. 

Rules:

  1. Property owner must own and occupy the property as their primary residence as of January 1 of the tax year.  *** the county does not look at who owned the property the majority of the year – they only look at who owned the property as of January 1.
  2. Property owner cannot be receiving homestead exemption on any other property – this includes properties in other GA counties and other states.
  3. Only one homestead exemption can be claimed between husband and wife.
  4. All vehicles owned by the property owner must be registered in the county where the property owner applies for homestead exemption.

Other Tips:

  1. If the property owner is adding or deleting a person’s name on a deed, they must RE-file for homestead exemption.
  2. If there is a change in ownership, name, or spelling correction on the deed, the property owner must RE-file for homestead exemption.
  3. Refinancing your home does NOT affect your homestead exemption.

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Gwinnett County Home Sales

15 02 2011

Here’s the latest numbers for Gwinnett County Home Sales for residential detached homes.  If you are interested in market statistics for other counties in Georgia, please send me an email at joan.boudreau@kw.com.  I’d be happy to send them to you.


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Appealing Your Property Taxes in 2011

28 01 2011

It’s that time of year again when we begin to think about appealing our property taxes.  I encourage you to do so because unfortunately, our property values continued to decline throughout most of 2010.  If you do want to appeal your property taxes, read on.  Last year, we had until March 1st in Gwinnett County to appeal our gwinnett county property tax.  Just when we were getting used to the process, the State stepped in and created a new law.

Please note:  The process for appealing your property taxes has changed this year.  

Georgia State Law, Senate Bill 346 was passed in 2010.  This bill states that EVERY HOMEOWNER will receive a “Notice of Assessment” around April 15th.  Once you receive the assessment notice, you will have 45 days to appeal.

On the “Notice of Assessment”, the county will specify what they think your property is worth.  If you think your property value is lower than what is stated on the assessment notice, follow the instructions on the notice to appeal your taxes.

If you have re-financed recently, you may be able to get an estimated property value from your lender.  If you recently purchased your home, the purchase price is probably your best value.  If you are not sure, email me or call me at 770-356-4656 and I’d be happy to provide you with a market analysis for your neighborhood.  If you would like quarterly updates on your neighborhood’s prices, go to www.GaHomePrices.com and sign up — it’s free and informative.

I consider providing these types of value-added services to be both an honor and a privilege and thank you for allowing me to serve your real estate needs. If you know anyone that is interested in buying, selling, or investing in real estate, please be sure to let me know. It t is my goal for you to feel comfortable in sharing my services with your friends and family.  Thank You. – Joan Boudreau-Alexander


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Gwinnett County Homes Sales Statistics

2 11 2010

 

Closings for single family homes throughout Metro Atlanta declined 22.3% in September 2010 versus September 2009. There were 3,095 closings for single family detached in September 2010 and the last time there were less closings reported for a September

was 1997.  Gwinnett county was no exception!

Gwinnett County, GA Single Family Residence 
Sales Information
  # of Sales  Median Sale Price 
January-10 468  $                 158,950
February-10 408  $                 155,000
March-10 536  $                 155,000
April-10 646  $                 159,900
May-10 606  $                 160,000
June-10 913  $                 157,000
July-10 659  $                 158,000
August-10 549  $                 158,000
September-10    
Year to Date (9/17) 4808  $                 157,500
     
     
     
     
January-09 502  $                 165,000
February-09 403  $                 165,000
March-09 589  $                 172,000
April-09 581  $                 161,500
May-09 654  $                 156,500
June-09 737  $                 159,250
July-09 789  $                 170,000
August-09 740  $                 154,100
September-09    
Year End 2009  8120  $                 160,000

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