Why sell your house to a licensed real estate broker?

First of all, I buy houses, any house, in any condition, quickly, without any real estate fees due from you. I am not looking to just "list" your house for sale but that may be the best solution for you. If not, I can buy it directly and can close in as little as 5 business days.

So why should you sell your house to me instead of an unlicensed investor? I am governed by the rules and regulations of the Georgia Secretary of State and there are specific rules that I must obey when buying or selling real estate in Georgia. I have been licensed since 1998, active and in good standing.   

I buy houses mostly in Cobb and Cherokee counties but will consider North Fulton, Bartow and Pickens counties.  I may be able to help you with your property even if you have negative or no equity.

So if you have a house that is keeping you from moving on with your life, call or email me today and I will try my best to solve your real estate problem fast!

Michael Bradford, Broker

Southern Prime Realty

770-573-2507, office

770-862-8002, cell

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

No Paws Left Behind

As a proud owner of a schnoodle (part poodle, part schnauzer) rescued from an illegal puppy mill, I was very happy when I read this article on REALTOR.org about No Paws Left Behind. According to their web site, No Paws Left Behind "is a focus driven not for profit organization, designed to bring awareness to all communities the silent victims of foreclosure who have no voice or rights to implement change."

With the rise in foreclosures across the country and here in Cherokee and Cobb county, it is good to see people thinking about the impact that this can have on our pets. If you know of any animals that have been displaced by a recent foreclosure, please give me a call or visit the No Paws Left Behind web site for more information about how you can help.

Michael Bradford
Southern Prime Realty
770-862-8002

Exit Strategies for Real Estate Investments

Although I think now is not a good time for investors to reduce their inventory in the Atlanta housing market, (in fact just the opposite, you should buy more houses) some of them must do so. I have a few ideas of just how to do that without losing their equity.

The first is obviously to sell the property. To get the most for the property, you should sell it as quickly as possible. You can do that by making sure it is in very good condition, has a fresh coat of neutral paint, new or clean carpet and is priced right. You should also be sure that it has a clean yard and working appliances. If you want to go the extra mile, you should consider staging the house. When it's ready to sell, you should give me a call at 770-862-8002 and set up a listing appointment. I will use my Internet marketing plan to get your home maximum the exposure possible. My "Featured Homes" (click here for an example) listings on REALTOR.com are getting over 100 property views a day!

If the house is a "fixer-upper" and you don't have any cash to put into selling it at a retail price, I can help you with that, too. Because I am associated with a group of local investors, I can get you a cash offer, close in 7 days and you can walk away from your problem with at least some money in your pocket.

Another option for getting out of that property is to rent it. Being a landlord isn't for the faint of heart and you should know what you are doing when you begin to screen your tenants. When you have the right ones, it can be a win-win for everyone. You will have someone else paying for your mortgage and they will have a house to live in for a period of time.

Lease purchase options have become very popular now because of the fall-out from the sub prime mortgage problems. You get the benefits of a tenant who will take care of the property as if it were his own (because someday it probably will), a non-refundable option payment up front and also the sales price you need. Because they are not buying the property today, your sales price can be based on tomorrow's price, not today's. I have a lot of experience in the area and would be happy to help you.

If your payments have gone haywire, you can also call your lender to see about refinancing the property. Sometimes, the lenders are willing to work with you to help avoid going into foreclosure when you are having trouble making the payments. It will not hurt you to call and talk to them about a "rate and terms" refinance option.

If you are not sure what a good strategy would be that fits your situation... give me a call and I can help you think about what would work for you.

Michael Bradford 770-862-8002

Southern Prime Realty

Your Cherokee County Georgia Real estate Specialist

Foreclosures: It Doesn't Have to Be This Way

I said it yesterday and I'll say it today: you can avoid foreclosure!

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Today's AJC has an article (Click Here) about how Atlanta has a record number of foreclusres. They are up 29% from last year.

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What does this mean?

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First, it means that there are a lot of very inexpensive homes out there ready for purchase. Many people lost their homes to foreclosure. These houses are empty and available to move in. You can buy a LOT of house for very little money right now. You can also enjoy low interest rates. Atlanta has a healthy economy and good jobs. There is no reason for you not to take advantage of the fantastic deals out there right now.

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It also means that there are people out there who do not know how to get the help that they need to stay in their homes. If you are struggling to pay your mortgage or about to default on your loan, please call me today so I can help you stay right where you are. I have a number of tips and helps that I can give you to try and see if you can save your home from being sold on the courthouse steps. Call me today - time is of the essence.

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Michael Bradford

770.862.8002

Southern Prime Realty

Avoid Foreclosure!

Over the past year, Georgia (as well as many other states) have seen a record number of foreclosures. The reasons vary, but are mostly due to the cheap money that was available when the market was peaking. A lot of people got loans for homes that they could not afford at a low introductory (but adjustable) rate. When the rates were raised after the first year or two, they skyrocketed and most buyers could no longer afford the payments.

I saw this interesting article in the Atlanta Journal & Constitution about how owners can avoid foreclosure. Georgia, along with Texas, are the states with the shortest window from the time of default until the time of sale at the courthouse steps. That window is 37 days. It is not much time at all for owners to find help.

Help is available but time is of the essence!

Because I buy investment properties, I often encounter owners who are behind on their payments and facing foreclosure. One thing that never fails to shock me is how few of them have a plan or are even open to finding a solution. They just bury their heads in the sand and wait until the day before auction to remove their belongings from the property.

If you are facing this problem, there are several things you can do to try to stop foreclosure. I can help you make a plan to either get yourself back on track with your mortgage company or find a buyer to take the house off of your hands so that you can have a fresh start.

If you need some help, please give me a call today. Together, we'll explore all of your options to find a solution that works for you. 770-862-8002.

Michael Bradford
Southern Prime Realthy

Buying Foreclosures

Last week I touched on buying foreclosures and said it was a tricky business. The AJC had a great article in the Homefinder section of Sundays paper which was dedicated to buying foreclosures. This has become such a big issue I wanted to address it in more detail today.

Cherokee County had around 200 advertised foreclosures in the Cherokee Tribune this month that are scheduled for the court house steps on the first Tuesday of the month (November 6th). Just because a house is advertised does not mean it will ultimately get sold on the steps. There are a couple of reasons why.

1. The homeowner "redeems" the property. This can happen by several methods but most likely the homeowner was able to work out a payment plan with the lender. This is sometimes called a "forbearance agreement" (for more info click here) and the lender has agreed to postpone or stop the current foreclosure process.

2. The homeowner sold the property. Up until the day before the sale at the court house is scheduled, the homeowner can sell the property on his own. The closer to the sale date, the harder it is and the more likely the sale will not be able to be completed. It will also need to be approved by the lender. Here is where a "short sale" can take place (for more info click here) which is where the lender agrees to accept less than what is owed on the property to keep them from getting the property back. I have done a couple of "short sales" and lenders are becoming more open to them lately just because of the shear numbers of properties on the market and the number of properties the lender currently has in it's REO (Real Estate Owned) portfolio.

The bottom line is that lenders don't want the house back. What they want is a loan that is performing (payments are current and on time). Tomorrow I will talk about how to buy a foreclosure house with the least amount of risk for the greatest amount of reward.

Until then, if you have questions that can't wait, please call me @ 770-862-8002. If you know anyone who needs to buy or sell real estate in Cherokee or Cobb County, Georgia, thank you for considering giving them my name and number.

Michael Bradford
Associate Broker
Southern Prime Realty
770-862-8002

Real Estate Tip #2

Ready to buy a house? Before you get in the car with your agent, a call to your bank, credit union or mortgage broker is a great place to start. We have all heard the news that foreclosures are at an all time high. Don't become a statistic! Learn about what programs are available and how much house you can buy before you find the home of your dreams. The National Association of Realtors has put together information designed to help you. Please visit the NAR web site for more information.

Don't let what happened to this house happen to yours! Ask your Realtor for help navigating the waters of home ownership.