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Archive for December, 2011
Foreclosure activity continues to concentrate over just a few states.
According to foreclosure-tracker RealtyTrac, November’s foreclosure filings fell 3 percent as compared to October, and 14 percent from November 2010.
“Foreclosure filing” is a catch-all term for the various “action steps” throughout the foreclosure process. The grouping comprises default notices, scheduled home auctions, and bank repossessions.
As in most months, though, foreclosure activity remains concentrated by state. More than half of last month’s bank repossessions can be traced to just 6 states.
- California : 14.8% of all bank repossessions
- Florida : 12.7% of all bank repossessions
- Texas : 7.0% of all bank repossessions
- Georgia : 6.9% of all bank repossessions
- Arizona : 6.7% of all bank repossessions
- Michigan : 6.3% of all bank repossessions
Meanwhile, with just 5 repossessions, South Dakota topped the list of states with the fewest bank repossessions in November. The Mount Rushmore State accounted for just 0.009% of REO nationwide in a month in which bank repossessions dropped to a 44-month low point across the United States.
The drop in REO is coming at a tough time for today’s Blue Ridge Home Buyers. Distressed properties are in high demand — mostly because they sell at steep discounts. Read the rest of this entry »
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Incredible Foreclosure For Sale on Lake Nottely that has finally hit the market and has a price. This one has had a lot of Realtors® on their toes with anticipation. Please click link below for full details.
Click Here For Details on 6650 Greystone Trail, Blairsville, GA. 30512
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Germ studies show that a kitchen cutting board carries up to 200 times more bacteria than a toilet seat.
This is because homeowners clean their bathrooms with fervor, while only “rinsing” down parts of their kitchens.
In failing to disinfect cutting boards (among other kitchen mainstays), homeowners in Hiawassee and everywhere else leave untouched a prime bacteria breeding ground, and may be getting sick as a result.
According to the CDC, 48 million Americans get sick from food-borne bacteria each year.
If it’s been a while since you’ve cleaned your kitchen cutting board, here are some tips on how to do it properly.
Homeowners with plastic cutting boards will have an easier go that homeowners with wooden cutting boards. If your cutting board is plastic, just place it in the dishwasher with dishwasher detergent. If your dishwasher has a “sanitize” feature, be sure to select it. Read the rest of this entry »
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Foreclosure Activity in Georgia is up in the 3rd Quarter of this year according to RealtyTrac®. Filings, which includes default notices, scheduled auctions and bank repossessions were reported on 33,637 properties. This is a 21% increase from the 2nd Quarter of 2011. It isn’t all bad news however. Georgia Foreclosures filings are still down 18% below the same level reported in the 3rd Quarter of 2010. The state of Georgia is still among the highest Foreclosure Rate in the Nation, coming in at #4. A staggering 1 out of every 121 Georgia Homeowners is facing a Foreclosure Filing during the quarter.
Newton was the highest County in Georgia with Foreclosure Filings, followed by Walton County and then Barrow County.
The rest of the nation’s top 10 state foreclosure totals for the third quarter of the year included Arizona (29,701), Texas (27,860), Nevada (25,900), Ohio (24,166) and Colorado (12,918). The top five states accounted for 52 percent of the nation’s total quarterly foreclosure activity.
If you are facing Foreclosure here in the North Georgia Mountains, please Contact Us to see if you have options. We are eager to help and to earn your Real Estate business here in the Mountains of Georgia.
Click Here to See A Full List of Foreclosures For Sale in the North Georgia Mountains
Related articles
- Foreclosures Sink To 4-Year Low (thefrontporchview.com)
- For The 9th Straight Month, Foreclosure Filings Fall (thefrontporchview.com)
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I was just visiting the Blog of Mickie Barnett of Barnett Associates and he had the this cool video he had posted. Check it out below, and if you are looking to purchase Real Estate in Marysville Washington, be sure to Contact the Professionals at Barnett Associates!
Now what man…..or possibly woman wouldn’t want a garage like that?
Make it a great Saturday!
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As a homeowner in Blue Ridge and Blairsville Georgia, your fiscal responsibility extends beyond just making mortgage payments. You must also pay your home’s real estate taxes as they come due, as well as your homeowners insurance policy premiums.
Failure to pay real estate taxes can result in Foreclosure. Failure to insure your home is a breach of your mortgage loan terms.
There are two methods by which you can pay your real estate tax and homeowners insurance bills.
The first method is to pay your taxes and insurance as the bills come due, usually semi-annually. Depending on your home’s tax bill size and the cost to insure your home, these payments can feel quite large — especially if you’ve failed to budget for them properly.
The second method of paying your taxes and insurance is to give your lender the right to pay them on your behalf, a process known as “escrowing for taxes and insurance”.
When you escrow your real estate taxes and homeowners insurance, you pay a portion of your annual obligation to your lender each month, which your lender then holds in a special account for you, and disperses to your taxing entities and insurance company as needed. Lenders prefer that homeowners escrow taxes and insurance because, in doing so, the lender is assured that tax bills remain current and that homes stay insured.
Want a discount on your next mortgage rate? Tell your lender that you’re willing to escrow.
To help calculate your monthly escrow payment to your lender, do the following :
- Find your home’s annual real estate tax bill
- Find your home’s annual homeowners insurance premium
- Add the two figures and divide by 12 months in a year
The quotient is your monthly “escrow”; the extra payment you’ll make to your lender each month along with your regularly scheduled principal + interest payment. Then, when your tax bills and insurance premiums come due, your lender will make sure the payments are made on your behalf.
If you’re unsure whether escrowing is right for you, talk to your loan officer and/or financial planner. If you do not have a loan officer, please Contact Me and I will be happy to introduce you to one on our Team. There are valid reasons to choose either path.
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Mortgage rates have troughed. Or, so it seems.
According to Freddie Mac’s weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortgage is 4.00 percent nationwide — roughly the same rate as it’s been for 5 weeks.
During that times, rates have ranged between 3.97 and 4.02 percent with an accompanying 0.7 discount points, plus “typical” closing costs. Closing costs vary by state and 1 discount point is equal to 1 percent of your loan size.
In other words, to get the weekly, published Freddie Mac rate, borrowers in Georgia should expect to pay a complete set of fees to their respective lenders. The larger the loan, the higher the costs. “Low-fee” and “no-fee” loans are available, too — typically in exchange for a slightly rate.
A breakdown of the Freddie Mac survey shows that interest rates and discount points vary by region. Typically, states in the West Region offer the lowest rates but with the highest costs. East Region states work in reverse; rates are often highest but the accompanying points are fewest.
The most recent mortgage rate breakdown by region shows :
- Northeast Region : 4.00% with 0.7 discount points
- West Region : 3.96% with 0.8 discount points
- Southeast Region : 4.06% with 0.9 discount points
- North Central Region : 3.97% with 0.7 discount points
- Southwest Region : 4.04% with 0.7 discount points
What’s most notable, though, is that in all 4 regions, rates are well below their 2011 highs. Since mid-April, mortgage rates have been in descent, dropping for 5 consecutive months before reaching to their current, “rock-bottom” levels in early-November.
Since then, however, rates have idled and the forces that combined to make rates low throughout Blairsville and Hiawassee Georgia are subsiding. The U.S. economy is showing signs of a rebirth; the Eurozone is edging closer to solvency; and the housing market is recovering.
So, if you’ve been wondering whether now is a good time to refinance, or whether higher rates will harm home affordability, the answer is yes. Get in touch with your loan officer to review your home loan options because, looking ahead to 2012, mortgage rates look poised to rise.
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“Holiday On The Square”
When: Saturday December 3rd, 2011 @ 2:00 P.M.
Where: Downtown Blairsville on the Square
Festivities begin around 11:00 A.M. Saturday morning at the Old Historical Courthouse on the Square in Blairsville, GA.
Face Painting at Historic Court House 11:00 – 1:00pm
UCHS Band will perform on the square before the parade.
Christmas Parade & Tree Lighting at 2:00pm.
Open House by the Historical Society 11:00am to 4:00pm.
There will by an Open House in the Restored 1906 Butt Mock House of the
Mountain Life Museum.
The 1861 Payne Cabin will also be open to visitors.
A highlight of Christmas on the Square, the parade starts at 2:00pm Floats, horses, antique cars, and Santa’s sleigh provide many photo opportunities as it travels along the streets of Blairsville.
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