New Listing: 28 Taylor Drive Cartersville, GA 30120

This is the perfect cupcake home with everything to love.  It features a wonderful corner fireplace, surprisingly large eat-in kitchen with loads of counter-space for food prep and it’s a split bedroom plan.  The walk-in closets will delight you as well as all the lot has to offer.  This home is truly dreamy and priced to move quickly at $92,850!

Give us a call at (770) 606-0054 for more information!

New Listing: 19 Grove Park Circle Cartersville, GA 30120

This is a charming and huge cottage.  The frontage size is deceiving.  It’s a very large 5 bedroom home with all of the bedrooms being master suite size with sitting rooms. It features all hardwood floors on the main level, granite countertops, an herb garden, back patio arbor, a reverse osmosis system, and courtyard entry parking.  Not to mention this location has easy walking access to shops, dining and Dellinger and Sam Smith Parks.  This home is priced at $274,850.

For more information on this property, please give us a call at (770) 606-0054!

Dawn Mayes shares her recent experience of utilizing Bonnie Mullinax and The Mullinax Team.

“In a very difficult housing market, Bonnie Mullinax is the person to get the job done.  We had our house on the market for 14 months with no results.  After we listed our home with Bonnie, the house sold in less than 3 months!  Her expertise and her great team of people make all the difference.  We were also extremely pleased that she or her staff were always available to respond to our phone calls or emails when we had questions or needs.  Selling our house long-distance, her care and attention were very important to us, and we knew we were in good hands with Bonnie!”

If we can help you buy or sell your home, please don’t hesitate to give us a call at 770-606-0054.  You can also check out our most recent listings at www.mullinaxteam.com

New Listing: 135 South Avenue Cartersville, GA 30120

This home is a cutie!  It’s a 4 sided brick ranch in a sought after city address.  It has no carpet, but wood floors throughout and features a den and dining room.  It’s a big corner lot with a fenced yard and out building.  135 South Avenue includes a little sun porch and is on a wooded lot.  This home has loads of charm.  You can walk to shops and restaurants from this great location.  135 South Avenue is priced at $112,850

Give us a call at (770) 606-0054 for more information!

HOPE Program Helps Rebuild Credit

Are you facing a bad credit report that is preventing you from getting a home loan?  If so, this program may be for you.  HOPE (Home Ownership Program for Everyone)  was designed to walk people step-by-step through rebuilding their credit in order to help them qualify for a home loan.  W.R. Starkey, one of our local lenders has partnered with HOPE to help people with credit report problems get the help they need.  Hope’s website explains more about their mission and how the program can set you on the right track towards home ownership. 

Information submitted by Shane Siniard with WR Starkey Mortgage.

USDA Funding likely to run out by April

In a letter to participating lenders, the Housing and Community Facilities Programs of USDA, stated that “program funding for the Single Family Housing Guaranteed Loan Program will likely be exhausted by the end of April, 2010.  Once funding is exhausted, the Agency will not issue Conditional Commitments “subject to receipt of appropriated funds.”  This is because it is not certain when additional funding will be available.”

For those of you looking to purchase a home using this program, the time to act is now, before the funds are depleted.

Post contributed by Shane Siniard with WR Starkey Mortgage.

New Listing: 33 Golden Eagle Drive, Adairsville, GA 30103 in Eagle Mountain Subdivision

This 5 bedroom, 3 bath home is designed for comfort!  It features a wide, open, upgraded kitchen with granite, stainless appliances and stunning, maple cabinetry.  It has 3 bedrooms on the main level plus 2 huge bedrooms upstairs with a full bathroom.  This terrific home is full of lovely appointments throughout.  Listed at $189,850 this home won’t be on the market long.  Give us a call today for more information (770) 606-0054.

New FHA Appraisal Mandate

Value on a home as provided by a certified real estate appraiser in a written report is critical to a mortgage loan.  Effective February 15^th, a change in FHA appraisals takes place.  Essentially FHA has implemented the same rule as FannieMae and FreddieMac, which are conventional loan agencies.  FHA is a government agency.  Prior to this new FHA mandate a lender could order an FHA appraisal from a certified FHA appraiser of their choice, who typically was someone with whom they had an established relationship.  Not anymore.  Beginning Monday the 15^th, all FHA appraisals must be ordered from an entity, an independent company, who maintains a roster of appraisers approved and certified by FHA. This mandate by FHA affects all lenders nationwide.  Failure to adhere and comply with this mandate will result in administrative sanctions, something no lender originating government loans wants to have happen.

HUD, and therefore FHA’s intention, is appraiser independence from any influence pertaining to value, condition of the property, etc. In order to ensure appraiser independence, lenders who are FHA approved are prohibited from compensating, choosing, or even retaining an FHA roster appraiser.  Even substantive communication between the lender and appraiser is no longer acceptable in order to avoid conflict of interest or even the appearance of such. The intent is to prevent a lender’s influence on an appraiser which could have an impact on valuation of a home. Because mortgage lenders are typically compensated based on production, and an appraisal report is essential to loan approval, FHA has begun to use these safeguards in an effort to protect the integrity of the loan collateral.

Those of us in the residential real estate industry have seen significant changes in the last year and a half.  This is yet another change, and while it sounds daunting compared to what we’ve been used to, it remains to be seen if it creates obstacles.  My expectation is we’ll likely be assigned appraisers we already know and who understand how to help us work though any issues, just as they always have.  Some turbulence is to be expected and I will continue to always be here for you to work through any appraisal problems we encounter.

Post submitted by Rena Rogers with Pine State Mortgage, (770) 387-4504

First Time home Buyer Tax Credit Website

For those of you with questions about the first time home buyer tax credit, you’re not alone.  With so many changes and stipulations surrounding this credit, there are more and more confused potential home buyers and recent homeowners.  This website was created by Better Homes and Gardens Rand Realty to help you determine whether or not you may be eligible to apply for this credit.  They have even created a questioinnare that answers whether or not you are eligible and for how much.  We hope this will help answer your questions regarding this legislation!

http://www.homebuyertaxcredit.com/

Finding a mortgage before looking for real estate is a smart idea

The first step in purchasing real estate should be getting a mortgage pre-approval.  Getting a mortgage, or rather getting approved for a mortgage, lets a buyer know what he can expect to afford when looking at property.  It is important for a potential buyer to know how to secure a mortgage.

There are many places to look for a mortgage these days.  There are banks, mortgage brokers, finance companies, credit unions and private lenders.  Often experienced Realtors have mortgage brokers or banks that they work with often and using a lender that has a good reputation is often a safe bet.

When looking for a mortgage have a good idea how much you can afford to pay each month.  Look into the past, present and future to determine this.  It is of the utmost importance not to bite off more than you can chew when it comes to your finances and the affordability of a home that you might buy.

When applying for a loan a person must provide documentation of income, expenses, and assets.  Have your financial statements and tax returns ready and the process will be much easier.

Having a mortgage ready to go before finding a property will make the entire process smoother and give you, the buyer, a better chance to shine when presenting an offer on a home.  Financing is harder to get these days and being prepared is a wise step in the home buying process.

For more information on mortgages click here.