Upside down?

The real estate market has turned around. At least that is what the media keeps telling us. But we all know that real estate is about location, location, location...oh, and when we want to sell, it is also about how much we owe, condition of the home and what else is available in our market.

Yes, prices have gone up, but they have not recovered to the prices we saw just a few years ago. Just ask someone who bought at the peak of the market and has tried to sell since then.

I may have a solution for those who would like to sell their house and move on with their life but can't because they have negative or no equity. This program is not for everyone, but it may be perfect for you or someone you know who has tried to sell and found they couldn't even afford to pay the real estate commission. Give me a call and let's see if I can help you. I do not want to list your house or charge you a commission. I want to buy your house, today! Let's talk and see if we can get you right side up! 

Michael Bradford
770-862-8002

My Newest Listing

Rent's Going Up, Interest Rate's Going Down.

Who would want unemployment numbers to go up? If you want a new mortgage, you do! When Wall Street gets bad news like it did on Friday, the market goes down. When the market goes down, interest rates for mortgages usually go down with them. That is exactly what happened on Friday.

Long term interest rates have gone down this week (Click Here). Hopefully this is the beginning of a downward trend but I wouldn't bet the house on it. Anyone looking to purchase a house soon will be glad to know that rates are trending downward and they make buying a house or re-financing your current loan very affordable.

Couple that with the fact that rents are sure to go up, (Click Here for more info) anyone who invest in real estate could position them selves nicely with a low mortgage and higher rents. I have several properties in mind that will create a good cash flow and excellent appreciation in Cobb and Cherokee County.

If you every wanted to invest in real estate, now is a great time to start. Call me today and let's get started.

Michael Bradford

770-862-8002

Feds: Home Mortgage Proposal

The Feds have decided that people taking out new mortgages need more protection from predatory lenders. This article describes their plans to place new restrictions and limitations on lenders who make loans to higer risk borrowers.

The new proposal "would restrict lenders from penalizing risky borrowers who pay loans off early, require lenders to make sure these borrowers set aside money to pay for taxes and insurance and bar lenders from making loans without proof of a borrower's income. It also would prohibit lenders from engaging in a pattern or practice of lending without considering a borrower's ability to repay a home loan from sources other than the home's value."

Whenever government gets into the realm of making more laws and restrictions, there are always saavy people looking for loopholes to turn them into an advantage. I would like to see less regulations on what lenders can or cannot do but more disclosure to the borrowers about what type of loans they have and how they work.

If the idea of loan packages makes your head spin, give me a call at 770-862-8002. I can help you decide which product is right for you. I can also help you to decide what you can really afford to pay for a mortgage, NOT what the mortgage company tells you that you can afford. There are many affordable homes in Cherokee County right now. Woodstock, Acworth, Canton, Ball Ground and Waleska are all full of beautiful, affordable homes. Call today and let's find a place that's right for you.

Michael Bradford

Southern Prime Realty