Ellenwood and South East Atlanta Real Estate Report

Why Buy a Short Sale?

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Thu, 03 Dec 2009 17:27:30 -0600

If you want to snag a bargain home, this is probably the best time in our lifetime for you to be house hunting. There are many good buys available now in the Atlanta area. But before you start your home search, take time to get educated about where and how to locate and negotiate the very best bargains.

By far, the best bargains now will likely be short sales and foreclosures. Of these two types of homes now for sale on the market, short sales generally make better purchases than foreclosures, because they are usually offered for sale by the homeowner, not a lender or foreclosure company.

Unlike most foreclosure properties, short sales are sold pre-foreclosure. They have not been sitting empty or boarded up, and so have not been an easy target for vandalism and vagrants. In many cases the selling owners actually reside in and care for the property right up to closing day, just as in most ordinary home sale transactions. This means the new buyer ends up with a cleaner and well cared-for property when the keys are turned over at the closing table.

In previous and subsequent posts I hope to provide all kinds of important advice for short sale sellers and buyers. For more information immediately, send me your questions or visit http://AvoidGeorgiaForeclosure.com.

To search for short sale bargains in and around Atlanta, GA visit http://BransonLee.com

Elva Branson-Lee, CDPE

Your Atlanta Area Short Sale Specialist

Solid Source Realty GA, 770-475-1130 ext. 8988

Facing Foreclosure? Be Prepared for What Comes After the NOD. (#8 in a series)

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Wed, 26 Aug 2009 20:38:28 -0500

What Comes After the NOD?

Many of my blog readers have asked why the Georgia foreclosure process happens so fast. The only answer I have is...because our state law is set up that way -- to favor the lender, not the borrower. That's why it is so imperative that Georgians contact their lender and an experienced real estate professional as soon as they begin having trouble making their mortgage payments.

The Georgia foreclosure process begins when the homeowner fails to make payments of the money due on the mortgage at the appointed time. Proceedings typically start with a formal demand for payment which is usually a letter issued from the lender. This letter of notice is referred to as a Notice of Default (NOD). In Georgia, the lender will issue this notice when the homeowner has been 30 days or more delinquent on the mortgage payments.

Every Georgia mortgage holder needs to understand that the Notice of Default is a threat to sell your property, terminate all your rights in the property and evict you from the premises.

In Georgia, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process. Judicial , or in-court, proceedings are not common, but an out-of-court, non-judicial foreclosure in Georgia can be completed in less than two months. The process period may be a short as 37 days, with the sale publication occurring in 32 days. Also -- and this is very important -- there is no right of redemption, therefore no redemption period in the state of Georgia. Here is what you need to know about both types:

Foreclosure by judicial saleis available in every state and is the required method in many. Unfortunately, Gerogia is not one of these. I say "unfortunately" because, in a judicial foreclosure, the homeowner has more time and more recourse to resolve his situation and possibly save his or h home. First, a lawsuit must be filed by the lender to obtain a legal order to foreclose. All parties must be notified of the foreclosure, and then there will be a hearing or trial. The homeowner has an opportunity to plead his case before a judicial decision is made. Generally, if the court declares a foreclosure, the property will be sold or auctioned under the supervision of a court, with the proceeds going first to satisfy the mortgage, and then to satisfy other lien holders, and finally if anything is left it will be distributed to the mortgagor.

The second type of foreclosure is non-judicial, or foreclosure by power of sale as we previously discussed, and is the type of foreclosure most prevalent in Georgia. This type of foreclosure involves the sale of the property by the mortgage holder without the supervision of a court of law. Lenders, of course, favor foreclosure by power of sale for it's expedience and cost-effectiveness. Again, proceeds from the sale go first to the mortgage holder, then to other lien holders including second place mortgagees, and finally to the mortgagor if there is anything left to disburse.

Georgia Power of Sale Foreclosure Guidelines If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the non-judicial power of sale foreclosure is carried out as follows:

A foreclosure notice must be mailed by certified mail, return receipt requested to the borrower no later than 15 days prior to the date of the foreclosure sale. The time period begins the day the letter is postmarked. The notice must be mailed to the address given to the lender by written notice from the borrower. No waiver or release of the rights to notice is valid if it was signed at the same time as the original documents.

The notice must be published in a newspaper of general circulation in the county where the sale will be held once a week for four (4) weeks proceeding the date of the foreclosure sale.
The sale must be made by public auction on the first Tuesday of the month between 10:00 am and 4:00 p.m. at the courthouse.

A third and lessor-known type of foreclosure may be negotiated when a borrower becomes unable to continue making mortgage payments. It's known as "voluntary foreclosure", a "deed in lieu of foreclosure," or "strict foreclosure". In this case, the borrower negotiates with the lender to "give back" the property back in full satisfaction of the debt.

For more in-depth information and free reports on this and related subjects, visit http://AvoidGeorgiaForeclosure.com

Facing Foreclosure? Here's Why the Georgia Foreclosure Process is So Fast. (#6 in a Series)

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Fri, 21 Aug 2009 13:47:26 -0500

Many of the comments posted on the last installment of this series expressed amazement concerning the lightening speed of some Georgia home foreclosures. Here are the main reasons:

A Crash Course in Title Theory.

Georgia is what's known as a Title Theory state, where the property title remains in the hands of the lender until the underlying loan is paid in full. When a person buys real estate in Georgia with funds borrowed from a lending organization or party, the resulting mortgage is established by two legal instruments: a promissory note or "promise to pay", and some type of title security document.

The first of the two mortgage instruments is the note, which is considered to be a negotiable instrument that can be transferred to another person or agency to collect. In fact, mortgages often change hands more than once during the course of the loan.

The second is the security instrument. The document that secures the title in Georgia is called a Deed to Secure Debtbut may also be referred to as a Security Deed. When you entered into such an agreement, you, the borrower, became the mortgagor, or person incurring debt in order to purchase real estate, and your lender became your mortgagee, the credit-extending agency. The mortgage creates a lien on the property in favor of the lender. In Georgia this usually takes the form of a security deed conveying title over the property to the lender, though the borrower retains all the usual rights of ownership as long as the repayment terms are being met.

What are Acceleration and Power of Sale?

Acceleration is a clause written into the mortgage which allows the mortgage-holder the right to declare the entire debt due and payable anytime a borrower defaults on their agreed payment schedule. Virtually all mortgages today have acceleration clauses. But Georgia mortgages usually go a step further. The security deed also contains a "power of sale" provision, which authorizes the lender to sell the property with no judicial process required in case of default.

What this all means for Georgia home buyers is that the lender keeps the title to the property until the terms of the lending agreement have been entirely fulfilled. Then the lender must clear title by canceling the security deed upon full payment of the debt. But, if the borrower does not adhere to the terms of repayment, the lender may foreclose on the property.

To learn more about the process and the options, or to pick up a copy of my free eBook on the subject, visit http://AvoidGeorgiaForeclosure.com

Facing Foreclosure? Understand What You're Up Against. (#5 in a Series)

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Wed, 19 Aug 2009 20:38:25 -0500

A few weeks ago a member of my church called me with a panicked and tearful query. "How could this be happening to me? This letter says that my house will be going to auction in less than five weeks!!"

Like many other Georgians, the shrinking economy, rising cost of living and loss of employment has impacted her ability to continue meeting her monthly mortgage obligation. Now she is several months in arrears and has been denied a loan modification. Receiving the dreaded NOD (Notice of Default) was just about more than she could bear.

"Can they really just take my home and kick me out? Don't I have any rights?"

Sadly, I had to inform her that indeed "they" could, and "no" she probably didn't. Let me explain.

What exactly is Foreclosure?

Foreclosure is a legal procedure with far-reaching and long-lasting consequences. Legally speaking, foreclosure is a term meaning to shut out, to bar, to extinguish a mortgagor's (borrower's) right to possess real property. It is is the "equitable proceeding" in which a bank or other secured creditor sells or repossesses a parcel of real property due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust." Sadly, it is also a termination of all rights of the homeowner covered by a mortgage.

By this process, a lender may indeed repossess a property when the borrower defaults on payments. It is one of the most frightening, embarassing and traumatic experiences an individual or family can endure. And the effect of foreclosure on a person's credit rating and ability to become a homeowner in the future are negative and long-lasting. A foreclosure remains a blight on the borrower's future ability to get a home loan. While other negative credit items may fall off an individual's credit report after 4 - 10 years, the one question that is asked on every mortgage application is "Have you ever had a foreclosure?"

Why Georgia Foreclosure is Particularly Traumatic.

If you've followed this Facing Foreclosure blog series, you already know my feelings about the Georgia foreclosure process. It's fast and it's brutal. Unlike most other states, Georgia allows foreclosure to take place with no judicial oversight as long as a "power of sale" clause is included in the security document. It usually is.

This means that "they" are not even required to file a lawsuit. As far as I know, no other state has a shorter foreclosure process. Although most lenders will wait until a borrower is several months behind in payments before initiating a foreclosure, once the process starts in Georgia, a house can be sold on the courthouse steps in as few as 37 days. Lenders, of course, prefer this method because it involves less time and expense for them than if they were required to file a lawsuit.

But for unfortunate homeowners like my friend (now client), the Georgia foreclosure process can be devastating. Luckily we were able to get her property on the market for short sale and thereby stave off the foreclosure -- at least for the time being. Hopefully we will get an acceptable offer soon and she will be able to settle this mortgage debt with a "paid as agreed" short sale and avoid foreclosure.

Time is Truly of the Essence.

Anyone facing a simlar challenge should act quickly to find out what your options are. Time is not your friend when you're facing foreclosure in Georgia. For more information on how this might work for you or someone you know, visit www.AvoidGeorgiaForeclosure.com.

Facing Foreclosure? What do You Need to Know to Fight Back?

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Sat, 18 Jul 2009 14:20:49 -0500

While the understandabe first reaction to a notice of pending foreclosure may be panic and despair, don't linger there. Pull yourself together and see if there is any way to fight back.

These days, most lenders would rather work with you than foreclose on you. It's not quite altruism on their part -- rather, it's for their own benefit in most cases. Did you know that it can cost the lender more money to foreclose than to work it out? According to my research, lenders spend an average of $40,000 - $50,000 and sometimes much more in total expenses, fees and losses when they foreclose. In some cases they even have to fight it out in court before they can take your house tot he courthouse steps.

First ask for a Loan Modification. If they are unable to modify your loan to a monthly payment you can comfortably manage, ask for a Short Sale. In a short sale, you put your house on the market and get a purchase offer for fair market value, whatever that may be. You and your Realtor should then make a solid case to your lender as to why they should accept the offer as "payment as agreed" and release you from the former debt. This is a simplification of the process, of course. In reality, it can be a tricky transaction to navigate, but an experienced short sale specialist or distressed property expert can smooth the process, and assist you to a successful resolution. The Property gets sold, the lender nets more money, and you avoid foreclosure and get released from an unaffordable obligation.

Its a win-win situation for everyone involved. You get out from under your debt, and the lender saves money too. Consider the objectives of the lender. They want what's best for their bottom line, and that ususally is not another bank-owned property stting on the market, maybe even languishing there, losing value by the month. Foreclosure costs the lender in advertising, attorneys fees, maintenance, REALTOR fees, repairs, vandalism, etc. From the lender point of view, it might be better to delay the foreclosure and give you an opportunity to short sell. You'll never know unless you ask.

So start by talking to your lender. And then, if that fails to resolve your dilemma, don't just talk to any old agent. Call in a REALTOR who specializes in situations like yours.

Learn more about loan modifications and short sales in Georgia.

Facing Foreclosure? Put First Things First

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Wed, 08 Jul 2009 17:06:16 -0500

We know the threat of foreclosure can be emotionally debilitating. Yet now is not the time to cave in. Rather, now is the time for you to reach down into yourself and pull up that reserve of energy and resolve in order to fight back. If you've fallen behind on your mortgage, you don't have to just let the lender take your house. There is one strategy that is paramount in this situation. What is it?

Talk to your lender.

This is the first and most important thing you should do.

With so much pressure from the new Administration to staunch the flow of foreclosures, most lenders are more than willing to give you an ear and help you if they can, even in cases of Georgia foreclosure. In fact, I received a much anticipated call from one of my clients this weekend, giving me the good news of her successful loan modification. In spite of a foreclosure sale that was scheduled to take place several months ago, after an unsuccessful run at a loan modification. That effort only resulted in a HIGHER monthly payment (ludicrous, considering she had long been unable to afford her pre-mod payment), shortly followed by a foreclosure notice.

But just days before her scheduled foreclosure sale, the lender revisited her modification using the guidelines provided by President Obama's Making Home Affordable plan. Through many weeks of phone calls and faxes and with much patience and prayer, this client staved off the foreclosure and finally achieved a successful resolution. Now she can remain in her beloved home while paying a reduced monthly payment.

Using these same guidelines, your lender may be able to recast your loan with more favorable terms and/or a principal reduction that makes your mortgage payment affordable and allows you to remain in your house. Ask them specifically for a Loan Modification under the Making Home Affordable plan.

So start by talking to your lender. And then, if that fails to resolve your dilemma, consider selling the property through short sale. It's usually a better alternative for your overall credit picture than is a foreclosure. And remember to call on a CDPE (Certified Distressed Property Expert), a REALTOR who specializes in sales situations like yours.

Learn more about loan modifications and short sales in Georgia.

Tasting the Fruits of My Labor

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Mon, 06 Jul 2009 19:01:41 -0500

Literally!

I've just eaten a scrumptious salad made primarily from the things in my own garden.

For many Americans, one of the main joys of home ownership is having a yard and enjoying a flower and/or vegetable garden. I personally get a proprietary thrill out of tending to my flowers and harvesting and lovingly preparing the fruit and vegetables I've grown in my own little patch of dirt.

I'm not alone. Home gardening is on the rise again in the United States. I recently read that the National Gardening Association estimated 33 million households had an at-home garden last year. I suspect that number may have grown some this year. In a time of social upheaval and economic recession, a home garden provides a relaxing escape from it all as well as a healthy and economical home activity. And the ultimate rewards are, well...very tasty!

Patio people needn't be left out of this delicious trend. This season I tried my hand at container gardening on my miniscule sideyard patio. It's the place where I sit with my morning cup and have my quiet time with God. My new potted plants seem to love it as much as I do. Judging by these beautiful and tasty tomatoes, I may have discovered a new talent. I'm already thinking about what I can plant in a pot next year.

Take my word for this, when it comes to tomatoes, cucumbers, sweet peppers, beans, carrots, summer squash, onions, hot peppers, lettuce and peas (the most popular vegetable crops for home gardens), you can't beat that sweet, wholesome home-grown flavor.

Facing Foreclosure? Don't wait to too late to check out your options.

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Tue, 30 Jun 2009 17:22:36 -0500

Nowhere is the foreclosure process faster or more brutal than in the state of Georgia. But even here, foreclosure can often be avoided -- even if you have already received the notice of sale. But don't wait until then to investigate your options. Find out for yourself what your possible outcomes might be as soon as you realize you're in trouble. In general, the Georgia foreclosure process can end one of five ways:

(1) You could pay off the default amount to reinstate the loan during a grace period known as pre-foreclosure. This is anytime up to the day of the foreclosure sale on the courthouse steps.

(2) Under President Obama's new plan, you could apply for a loan modification, which will temporarily or permanently change the terms and maybe even the principal amount of your home loan. There are strict guidelines in place and not every home owner can be helped, but if you desire to remain in your property, this could be your answer. Contact your lender right way to get the process started. For more information see my web page on Obama's plan to help homeowners stay in their homes.

(3) You could sell your property to a third party during the pre-foreclosure period, allowing you to settle the loan "paid as agreed" and avoid having a foreclosure on your credit history. This is commonly referred to a s a "short sale", although there is nothing short about the process, which can take weeks and sometimes months to successfully negotiate. For more information on this option, see my Short Sale Frequently Asked Questions page at AvoidGeorgiaForeclosure.com

(4) If all else fails, your home will go into foreclosure and a third party may buy the property at a public auction at the end of the pre-foreclosure period. In Georgia, these auctions take place at the courthouse of the county of record on the first Tuesday of every month.

(5) Finally, if the lender doesn't get a high enough bid at the auction, they may take ownership of the property, usually with the intent to re-sell. The lender can take ownership through an agreement with the borrower/owner during pre-foreclosure, called a "deed in lieu of foreclosure", or by buying back the property at the public auction.

If you are interested in discussing any of the non-foreclosure options with a Certified Distressed Property Expert, contact me @ AvoidGeorgiaForeclosure.com

Facing Foreclosure? Get your hands on your original papers.

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Sat, 27 Jun 2009 20:30:33 -0500

Georgia home owner, are you getting behind in your mortgage payments? Are you getting threatening letters from your lender? According to a well-known local real estate attorney, there are a few things you can do in these situations that will help to stave off the foreclosure process in Georgia, buying you time to pursue an alternative outcome.

One place to start -- always ask them to produce the original loan documents and the security instrument. In Georgia, these documents are required before a lender can foreclose. Three types of security instruments are used in Georgia home purchases:

(1) Deed in Trust - This is a deed used in some states in lieu of a mortgage. It is rare to find this one used in Georgia, but it could be used in certain circumstances. In a Deed in Trust, title is held by a trustee on behalf of a lender (beneficiary) until the borrower (trustor) repays the loan.

(2) Mortgage - This is an instrument which secures a promissory note by either giving the lender a lien against the property or conveying title to the property, depending on state law. In Georgia, it is actually a lien agianst property. A mortgage requires judicial foreclosure.

(3) Security Deed - This is actually an instrument to secure debt which conveys title to the lender until the debt is satisfied. When the debt is satisfied, the instrument is canceled. This is the most common security instrument used in Georgia property purchases, and does NOT require judicial foreclosure. That is why the Georgia foreclosure process is one of the fastest and most brutal in the nation. With a security deed, the policy is usually "you don't pay, you don't stay."

Don't know which security instrument is held against your property? Ask your lender. Find out what you've got. Make them track it down. Issues to foreclosure can delay the process, buying you time to effect a workout plan, loan modification, or get the debt settled "paid as agreed" through a short sale.

A Day of Celebration and Gratitude.

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Sat, 23 May 2009 19:48:51 -0500

As we celebrate our fallen heroes, I send a shout out to all of our service men and women in the military and all of our courageous first responders here at home.

We know that freedom isn't free. Thanks for your sacrifice and service in protecting it for us.

Have a Blessed Memorial Day.

Bank-owned in Rex, GA

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Fri, 22 May 2009 13:49:17 -0500

Elva Lee | Keller Williams | 404.226.2085

Babbling Brook, Rex, GA

Foreclosure Bargain REO in Lovely Established Carriage Station Subdivision

3BR/2BA Single Family House

offered at $88,000

Year Built	1981
Sq Footage	1,754
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	.3 acres
HOA/Maint	$0 per month

DESCRIPTION

Investors, 1st-time home Buyers! Bank-owned, renovation started by not finished, ready for your finsihing touches. Large level lot, separate living and dining rooms, breakfast area overlooks sunken family room. Large, clean double garage.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Family room	Living room	Dining room
Breakfast nook	Laundry area - garage	Yard

OTHER SPECIAL FEATURES

Established community with plenty of pride of owneship

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Elva Lee

Keller Williams

404.226.2085

For sale by agent/broker

Equal Opportunity Housing

Posted: May 22, 2009, 10:38am PDT

Possibel Short Sale in Henry County

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Thu, 23 Apr 2009 14:24:28 -0500

Elva Lee | Keller Williams | 404.226.2085

Jodeco Station Street, Stockbridge, GA

Possible Short Sale in Jodeco Station! Grab it Before It's GONE!

4BR/2.5BA Single Family House

offered at $125,000

Year Built	1997
Sq Footage	Unspecified
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	.4 acres
HOA/Maint	$25 per month

DESCRIPTION

Delightful family style home with plenty of southern charm. Located in one of HenryCounty's most popular subdivisions. Great schools, close to shopping and entertainement. Bright and airy. Must see.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Family room	Living room	Bonus/Rec room
Dining room	Breakfast nook	Dishwasher
Refrigerator	Stove/Oven	Microwave
Basement	Laundry area - inside	Balcony, Deck, or Patio
Yard

COMMUNITY FEATURES

Guest parking	Clubhouse	Swimming pool(s)
Lake	Playground

OTHER SPECIAL FEATURES

Partially finished, full walk-out basement. Finish to suit.

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Elva Lee

Keller Williams

404.226.2085

For sale by agent/broker

Equal Opportunity Housing

Posted: Apr 18, 2009, 5:48am PDT

Get Real About Loan Mods

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Thu, 16 Apr 2009 11:06:43 -0500

For those of us who live and work in Georgia, President Obama's Making Home Affordable website and the Homeowner Stabilization Plan didn't come a moment too soon. High foreclosure rates have hurt our communities. And we need to start seeing this intiative begin bearing fruit real soon, because as of today...

...Georgia Foreclosure Filings Are Still Rising!

According to the most recent numbers reported by realtytrac.com, Georgia foreclosure filings are still climbing, and reached an all-time high in the first three months of this year. The report says that between January and March 2009 there were 28,608 foreclosure filings in the state, an increase of 11% from the previous quarter.

That should begin changing soon, as the new federal program officially launched in mid-March. I devoted a whole web page to the program's ins and outs. Read my take on it at AvoidGeorgiaForeclosure.com

Now Georgia real estate pros are watching closely to see if the program will result in these numbers declining in the coming months, both locally and nationally. It's success will depend largely on lenders cooperation in helping homeowners refinance or modify thousands of underwater mortgages.

The early reports I'm hearing in the field from homeowners is not encouraging. It appears that the calvary has arrived too late and with too little for many Georgia families. Others are finding that while their modifications are bringing them current by placing missed payments on the back of the loan, their monthly mortgage payments are not being lowered to a more mangeable amount. One client of mine actually had her monthly payment increased as a result of modification!

I'm interested in the real-life experiences of real homeowners seeking Loan modification or refinance help. Have you or your clients experienced real relief as a result of a loan modification or refinacne?

CRASH!! Some folks saw this coming....

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Thu, 26 Mar 2009 10:10:37 -0500

Like Byron Dorgan and Peter Schiff. Guess we just weren't paying attention to the right voices. Hindsight sure is 20/20, huh?

Visit msnbc.com for Breaking News, World News, and News about the Economy

Own a Family Home in Henry County

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Wed, 25 Mar 2009 15:37:53 -0500

Elva Lee | Keller Williams | 404.226.2085

Ravins, Stockbridge, GA

Henry County Schools, and Large Corner Lot -- This Home Has
Everything Your Family Wants!

4BR/2.5BA Single Family House

offered at $185,000

Year Built	1995
Sq Footage	2,250
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	.5 acres
HOA/Maint	$34 per month

DESCRIPTION

Move right in. Upgrades galore take this house above the ordinary: new roof, new air, w-t-w Berber, granite, pergo, new refaced cabinets, his/her walk-in closets, huge fenced yard...You've gotta see it!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Family room	Living room	Dining room
Breakfast nook	Dishwasher	Refrigerator
Stove/Oven	Microwave	Granite countertop
Laundry area - inside	Balcony, Deck, or Patio	Yard

COMMUNITY FEATURES

Clubhouse	Swimming pool(s)	Tennis court(s)
Playground

OTHER SPECIAL FEATURES

Sought-After Walden Subdivison in Stockbridge

ADDITIONAL PHOTOS

Henry County Family Home	2-story Foyer
Comfy Family Room	Sunny Kitchen
Huge Fenced Yard	Established Community

Contact info:

Elva Lee

Keller Williams

404.226.2085

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 25, 2009, 1:06pm PDT

Jacksonville, FLA referral

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Mon, 02 Mar 2009 15:33:39 -0600

Hey, Rainers, I have a buyer referral for the Jacksonville area. This couple wants to relocate but have some very specific financing challenges. I need someone with a good loan officer who can help them. They need to locate and purchase a home in FLA before selling their GA home. Contact me if you can help.

Perfect Starter Home in Ellenwood

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Thu, 12 Feb 2009 18:00:59 -0600

Elva Lee | Keller Williams | 404.226.2085

Boulderscrest, Ellenwood, GA

Boulder Estates Home Offers Plenty of Room to Live, Play and Grow.

3BR/2.5BA Single Family House

offered at $158,000

Year Built	2002
Sq Footage	1,668
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	.60 acres
HOA/Maint	$0 per month

DESCRIPTION

You'll love this superbly kept immaculate home from the moment you pull up the long driveway and step onto the rocking chair front porch. Inside you'll find a home that shows like a model, practically brand new and ready for you and yours to move in and make yourself at home. Must see ot for yourself.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Tile floor
Family room	Living room	Dining room
Breakfast nook	Dishwasher	Refrigerator
Stove/Oven	Microwave	Laundry area - inside
Balcony, Deck, or Patio	Yard

OTHER SPECIAL FEATURES

Spacious Lot for Indoor-Outdoor Southern Living

ADDITIONAL PHOTOS

Seller contact info:

Elva Lee

Keller Williams

404.226.2085

For sale by agent/broker

Equal Opportunity Housing

Posted: Feb 10, 2009, 12:18pm PST

Snag a Short Sale Bargain in Douglasville!!

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Thu, 12 Feb 2009 17:52:52 -0600

Elva Lee | Keller Williams | 404.226.2085

Killington, Douglasville, GA

Short Sale in Atlanta Metro/Douglasville

4BR/3BA Single Family House

Reduced - now offered at $118,000

Year Built	2004
Sq Footage	1,764
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	.1929 acres
HOA/Maint	$0 per month

DESCRIPTION

This COULD be your chance to snag a BARGAIN! Your family will love this open and airy split entry home with it's 2-story foyer, vaulted living room with fireplace, separate dining area, upstairs and downstairs master suites -- for a total of 4 bedrooms and 3 full baths -- walk-in closets and plenty of extra storage. There's even an exercise and workshop area in the roomy double garage. And it's all located on a large corner lot in the Avalon Estates subdivision. A great loction with great schools. Come and see it for yourself. Note**LENDER MUST APPROVE.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Tile floor
Living room	Dining room	Dishwasher
Refrigerator	Stove/Oven	Microwave
Basement	Laundry area - inside	Balcony, Deck, or Patio
Yard

COMMUNITY FEATURES

Clubhouse	Fitness center	Swimming pool(s)
Playground

OTHER SPECIAL FEATURES

Sought-After Subdivision in Douglasville

ADDITIONAL PHOTOS

Seller contact info:

Elva Lee

Keller Williams

404.226.2085

For sale by agent/broker

Equal Opportunity Housing

Posted: Feb 12, 2009, 3:39pm PST

Option ARMs - You Mean This Next Wave is Not THE Wave?

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Sun, 08 Feb 2009 14:53:21 -0600

Real Estate Change Agent - Pt. 4

Change agents of the world, are we bracing ourselves for the next onslaught of distressed sellers?

One of my associates in the real estate business has been warning me and anyone else who would listen for the past two years concerning the pending option ARM resest issues that we are about to face in the U.S.

He and others have dramatically described the coming recast as the precursor to a veritable tsunami of new foreclosures.

Precursor? You mean this next wave is not THE wave?

As much as we all may hope that these harbingers of doom are being overly pessimistic, recent reports from industry analysts are confirming the realities behind these particular mortgages and the challenges they present.

A recent Housingwire.com article reported these predictions from Fitch Analysts:

$29 billion in option ARMs to recast to higher monthly payments by the end of 2009, and an additional $67 billion to recast in 2010; of this, approximately $53 billion is attributed to early recasts.
90-day plus delinquencies - already ranging from 10 percent to 24 percent, depending on vintage - to more than double after recast for 2004-2007 vintage loans.
Fitch estimated the potential average payment increase on the re-casting loans to be 63 percent.
Option ARM defaults will likely spread into higher priced neighborhoods and higher priced homes.

I hope the Stimulus Package and other long-awaited loan modification programs will be enough to stem some of this tide. Because we're already feeling it in Georgia.

In fact, local papers report that option ARM defaults are already spreading into higher priced neighborhoods and homes in the 22-county Metro Atlanta real estate market. This metropolitan area is experiencing a more bleak foreclosure outlook than the state of Georgia as a whole.

Who do you know who is in trouble with their mortgage? These days, it seem that almost everyone knows someone.

Help me help somebody!

If you are a Georgia homeowner, your neighborhood could be the next to be plagued by REO-driven home prices. Arm yourself with knowledge to help your neighbors avoid foreclosure. For more information on what can be done to forestall the ultimate trauma of foreclosure in Georgia, visit http://www.AvoidGeorgiaForeclosure.com.

Who said the market would bottom this year?

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Fri, 30 Jan 2009 12:44:21 -0600

Who said the real estate market would bottom out this year? (Gulp!)

In a post just last month I wrote about what our industry experts forecast for our market in 2009. I said:

"...Some experts predict that prices won't bottom until they've reached the level of 2003-2004 prices. I'm no analyst, but it would not surprise me if even thatis a conservative estimate based on the economic turbulence the country is experiencing now. ..." Read the post here: But Can She Close the Deal?

So, here we are just a few weeks into the new year, and the picture has become somewhat MORE bleak for homeowners in metro Atlanta. The newest reports now predict that 60-70 percent of this year's sellers will be upside down in the market. Wow!

Agents in my area are already seeing the disappearance of demand for high-priced houses. I see foreclosures and pre-foreclosure continuing to increase, driving prices already at 2004 levels down even further. And millions more Americans are predicted to lose their jobs this year, leaving more homeowners unable to cover their mortgages.

So, those who predicted we'd see the bottom in the second half of this year might need to rethink their positions. The bottom certainly does not appear to be that close at hand from where I'm working.

Feel free to disagree. In fact, I hope someone in "Rain-world" can show me the error of my ways. I'd love to hear a little optimism, as long as it's based in reality. When do you think the bottom will come? Where will you find opportunity in the meantime?

Who Is Giving It Away For Free, Besides Me?

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Fri, 19 Dec 2008 18:32:29 -0600

Real Estate Agent turned 'Change Agent' - Pt. 3

Because I'm a Change Agent, and not just a real estate agent anymore, and because the health of my business is so closely tied to the health of my community, I can't afford NOT to give away what I know.

Especially when I'm looking for people to help.

That's why I've drawn from my past work with pre-foreclosure clients, as well as the combined experiences and knowledge of my team of real estate experts, and put together an informative e-book to share with my Georgia neighbors everything that I have learned as a REALTOR about how a person can avoid foreclosure in Georgia. It's short and easy to read and understand.

It's also available FREE for the asking at http://AvoidGeorgiaForeclosure.com, and is intended for people in distressed situations, and for the neighbors, friends and family of such home owners. It seems almost everybody knows somebody who is going through it in the current economy. The e-book offers proven strategies for anyone facing a possible bank foreclosure on their real property due to relocation or hardship. I hope it will instruct Georgians on their options, and that they will identify specific information and tactics contained in the book which they can immediately put into action to avoid bank foreclosure.

Because I am a stakeholder in the community both as a resident and as a REALTOR, I want to spread the word quickly and without price constraint. It's too important to hold back.

And hopefully some of them will call on me so I can answer any remaining questions. Then maybe I'll have the opportunity to review their situation and help them identify an appropriate non-foreclosure course of action based on their particular circumstances and needs. And maybe some of them will find their very best option is to list with me for a short sale.

I'm interested to know, what other agents are doing in their markets to address the growing problems of economic hardship and negative equity homesellers?

Possible Short Sale - Ellenwood, GA 3/2 on Acre+ with In-Ground Pool

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Wed, 17 Dec 2008 12:24:08 -0600

Elva Lee | Keller Williams | 404.226.2085

Overland Drive, Ellenwood, GA

Ranch Home with Room to Entertain on Huge Suburban Lot

3BR/2BA Single Family House on Huge Lot

now offered at reduced price of $130,000

Year Built	1985
Sq Footage	1,600
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	1.17 acres
HOA/Maint	$0 per month

DESCRIPTION

Motivated seller must relocate. Possible short sale, Lender Must Approve. For the family that wants room to grow and play in an established and friendly suburban neighborhood, this 1980s ranch style home on an acre plus lot will fit the bill. Charmingly situated on a tree-lined street, this home features 3 bedrooms and 2 full baths all on one level. The parquet floored netry leads to separate living and dining rooms, and a kitchen with breakfast area. The large wood deck overlooks an in-gound pool, and a picnic area situated on a deep, wooded backyard. There's even an outbuilding to provide extra storage. These and many other features are why you need to come take a look at this property. It's got so much potential, it needs only your personal touch to make it your own. For 24-hour recorded details or an appointment to preview this property, call 1-800-694-0840 ext. 467.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Walk-in closet
Hardwood floor	Living room	Dining room
Breakfast nook	Dishwasher	Refrigerator
Stove/Oven	Microwave	Attic
Washer	Dryer	Laundry area - inside
Balcony, Deck, or Patio	Yard	Swimming pool

COMMUNITY FEATURES

Garage parking

Guest parking

OTHER SPECIAL FEATURES

Family-Friendly Established Neighorhood

ADDITIONAL PHOTOS

Seller contact info:

Elva Lee

Keller Williams

404.226.2085

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 24, 2008, 9:18am PST

Ellenwood, GA 4 BR/3BA Short Sale Bargain!

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Wed, 17 Dec 2008 11:31:54 -0600

Elva Lee | Keller Williams | 404.226.2085

Arminto Drive, Ellenwood, GA

Short Sale - Nearly New Family Home in Sought-After Atlanta Suburb

4BR/3BA Single Family House

now offered at $135,000

Year Built	2007
Sq Footage	3,400
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	2
Parking	Unspecified
Lot Size	.33 acres
HOA/Maint	$33 per month

DESCRIPTION

Possible short sale. Requires lender approval. You must see this nearly new home to believe that you could get this much home for your money. Built in 2007, this is a traditional styled 2-story home finely constructed of brick and hardiplank siding and offers more than 3400 square feet of modern living. As soon as you enter the 2-story foyer, you will know you've found something special. Featuring 4 bedrooms and 3 full baths, your family will find plenty of room to live and grow. The master bedroom is luxuriously appointed with volume ceilings, a spacious sitting area and ensuite bath with garden tub and separate shower. You'll fall in love with the island kitchen and sunken family room with fireplace. In fact, there are too many tasteful features to list here. You've got to see it for yourself. For 24-hour property details or to make an appointment to preview this property, call 1-800-694-0840 ext. 475

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Tile floor	Family room	Living room
Dining room	Breakfast nook	Dishwasher
Refrigerator	Stove/Oven	Microwave
Washer	Dryer	Laundry area - inside
Balcony, Deck, or Patio	Yard

COMMUNITY FEATURES

Guest parking	Clubhouse	Swimming pool(s)
Playground

OTHER SPECIAL FEATURES

New Subdivision with Elegant Entrance, Sidewalks and Street Lights

ADDITIONAL PHOTOS

Seller contact info:

Elva Lee

Keller Williams

404.226.2085

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 24, 2008, 9:07am PST

But Can She Close the Deal?

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Fri, 12 Dec 2008 15:12:22 -0600

Any agent can list a short sale.

But it is estimated by the industry analysts whose blogs and podcasts I subscribe to that only 3% of all Realtors know how to successfully close one.

Those of us who can appear to be awfully busy in my market, because according to Atlanta area housing industry reports, nearly 40% of all recent real estate sales have been Short Sales and REOs. A glance at the current listings of homes available for sale on the Georgia MLS corroborates that at least that number of the listings fall into these categories. And for the most part, the homes that do not, are overpriced for the market.

I expect more of the same in the coming year. Until the inventory of homes falls to more normal levels, analysts say, the housing slump is likely to persist. But currently, inventories are being driven higher by the massive wave of mortgage foreclosures and pre-foreclosure listings.

These "distressed" sales now are driving our local market and have driven down prices across the board. And I don't think we've seen the bottom yet. Some experts predict that prices won't bottom until they've reached the level of 2003-2004 prices. I'm no analyst, but it would not surprise me if even that is a conservative estimate based on the economic turbulence the country is experiencing now.

The sheer number of homeowners with negative equity in their homes..the ‘Underwater Homeowners' is staggering. Its predicted that by this time next year half of all real estate transactions will be either foreclosures or short sales.

Metro Atlanta sellers will continue to be challenged in 2009 as the inflated pricing of years past adjusts to levels that buyers can once again afford. With banks and builders continuing to slash prices in order to sell a backlog of foreclosures and new homes, individual sellers will have to price their homes competitively. The catch is that most sellers will likely find themselves upside-down in their mortgages, owing more than the property is currently worth on the market.

In 2009, it will be imperative that Atlanta sellers in this position realize their position and hire an agent who is extensively trained and experienced in getting their short sales closed. An agent who has the CDPE designation will fit this bill.

For more information for distressed sellers in Atlanta, go to http://AvoidGeorgiaForeclosure.com

Real Estate Agent Turned 'Change Agent' - Pt 2

Elva Branson-Lee, e-Pro, CDPE (Solid Source Realty GA) — Thu, 04 Dec 2008 20:45:57 -0600

In my last post, I introduced myself as a Change Agent, a pre-foreclosure specialist on a mission to save as many Georgians from foreclosure as I can, and a partner with our president-elect in effecting positive change in America's economy.

So how am I personally and positively affecting the economic recovery?

Well, I figure the economy won't recover before the real estate market corrects. And every time I help a seller sell before the bank takes their house, I'm helping that correction happen instead of allowing another foreclosed property to drag on the market. Foreclosures hurt the whole community and economy. Boarded up homes become a blight on the neighborhood, driving prices down, reducing the tax base and inviting crime.

To that end I've prepared myself with Alex and Cadey Charfen's systems and information, and I've postioned myself for 2009 as an agent who specializes in foreclosure prevention and short sales. Tne Certified Distressed Property Expert (CDPE) designation has equipped me for increased success with short sales. To date, there are only three agents in the state of Georgia to have earned the CDPE designation, which requires a significant investment of time and money and in-depth foreclosure prevention training.

In a short sale, the lender agrees to accept less than the entire amount due on a seller's mortgage as "payment as agreed." The lender becomes the de facto seller in the transaction, and the defaulting borrower gets to avoid the stain of foreclosure. Short sales are are a far better option for most home owners than foreclosure - repercussions are substantially less and of lesser duration. While a person with a short sale may qualify for a new FHA loan in as little as two years, a foreclosure could follow a borrower forever, particularly when applying for another mortgage.

When I'm successful in helping a homeowner avoid foreclosure with a short sale or loan modification, everybody wins. The homeowner is spared the emotional and economic trauma that comes with foreclosure and eviction. Also, it saves the lender the legal fees, processing fees and marketing costs to foreclose on a home and put it back on the market, which can amount to many thousands of dollars. And a new buyer gets a home at an affordable price and becomes part of the local property tax base.

Get an informative free e-Book on How to Avoid Foreclosure in Georgia at http://AvoidGeorgiaForeclosure.com

As always, I welcome comments, tips and suggestions from other pre-foreclosure professionals. The more information we can get into the hands of stressed homeowners, the more foreclosures we can prevent.