5 Bed / 6 Bath Home in The River Club

4834 Elkhorn Hill Drive

Suwanee, GA 30024

$3950000
Welcome Home to your Elegant Rustic Style Lodge with unique custom finishes and high quality Craftsmanship throughout the home. A splendid setting where elegance meets nature. This 5BD/6.3 BA home (2 of the BD's are master Suites)has private view of the Greg Norman Golf Course, a pond and mature woods. Backyard features pool w/hot tub,waterfall and Firepit for your everyday enjoyment. 2 Cooks kitchens, 6 FP's,Spa area on terrace level w/Sauna,Steam shower,massage room, work out room & Aerobic room.3 Laundry rooms, Elevator, Wide plank hand scraped walnut floors.

Summary

MLS #5650314
Price3950000
Bedrooms5
Bathrooms (Full)6
Square Footage10185
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 7 Bath Home in THE RIVER CLUB

4745 Cuyahoga Cove

Suwanee, GA 30024

$3790000
ONE OF THE MOST IMPRESSIVE FRENCH PROVINCIAL ESTATES TO REACH MARKET IN N. ATLANTA, BOASTING UNPRECEDENTED DETAIL & ARCHITECTURAL CUSTOM CRAFTSMANSHIP.... SITTING ON A LEVEL CUL-DE-SAC LOT YET PERCHED TALL ABOVE THE GREG NORMAL GOLF COURSE, WITH PANORAMIC VIEWS AND 380 FT OF LAKE FRONTAGE, THIS HOME TOOK ALMOST $1 MILLION IN HAND-CUT TENNESSEE STONEWORK ALONE. ENJOY WIDE-PLANK HEART OF PINE FLOORING, LARGE AND ENTERTAINING OPEN FLOOR PLAN. ABSOLUTELY STUNNING GOURMET CHEF'S KITCHEN WITH DOUBLE SUB ZEROS- AND VIRTUALLY EVERY CONCEIVABLE OPTION. 4 FIREPLACES. 5-CAR

Summary

MLS #5718436
Price3790000
Bedrooms7
Bathrooms (Full)7
Square Footage11738
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4695 Whitestone Way

Suwanee, GA 30024

$2599000
Custom Home in The River Club. 6 Bedroom 6.5 Ba on double lot backing golf course. 1st floor features large 2 story foyer overlooking LR with handsome study and large entertaining DR. Gourmet kitchen overlooks oversized Family Room and covered porch. Master on main and 2nd bedroom on main. Upstairs features 3 bedrooms all with private baths and large dressing area. Terrace level features bedroom and bath, Bar area, game room and theatre.

Summary

MLS #5751567
Price2599000
Bedrooms6
Bathrooms (Full)6
Square Footage8412
Square Footage SourceAppraisal
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4605 Whitestone Way

Suwanee, GA 30024

$2500000
Exquisite estate home with the finest attention to detail throughout. Overlooking 4th green, home features marble inlayed foyer, Liv Rm, Office w/FP, opulent Great Rm w/FP, state of the art Kitchen, Stunning Keeping Rm w/beamed ceiling & FP, Romantic Master on main, elevator, World class terrace Lvl w/Rec Rm w/FP, Bar, Billiards Rm w/FP, Humidor, Home Theater(all equipment stays!), 2nd master suite & most beautiful finish work in the River Club. Pool & spa w/stone surround, stunning outdoor living areas. WOW!

Summary

MLS #5722910
Price2500000
Bedrooms6
Bathrooms (Full)6
Square Footage9476
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

869 Big Horn Hollow

Suwanee, GA 30024

$2450000
Welcome home...you've earned this! Enter an innovative floor plan built for entertaining & family enjoyment. Delight in vaulted wood beamed ceilings throughout, wood, brick & travertine floors, wide baseboards, stained doors throughout. The chef of the family will revel in the showcase kitchen of granite and brick. Master on main, separate his & hers baths/closets with car wash shower for both to enjoy. Terrace level is filled with customized features including media room with built in show cases for memorabilia, bar, wine cellar, game room, cozy rec room with fireplace

Summary

MLS #5713023
Price2450000
Bedrooms6
Bathrooms (Full)6
Square Footage9663
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

912 Little Darby Lane

Suwanee, GA 30024

$2099000
Old world European inspired master piece, indescribable detail thruout,in private setting, 2 story grand foyer w/spiral staircase, pecky cypress paneled study, gourmet kitchen views to fireside keep rm ,Private master suite on main level w/spa like master bath, his/hers closets w/custom built-ins, whole house audio system ,cover porch w/outdoor fireplace/Terrace level features: Pub style bar,w/1800 bottle wine cellar, theater seats 8 features concession stand, billiard rm,card rm,spa rm w/sauna, salt water pool & spa w/cascading waterfalls & outdoor fire pit.

Summary

MLS #5693604
Price2099000
Bedrooms6
Bathrooms (Full)6
Square Footage9755
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

811 Flathead Pass

Suwanee, GA 30024

$1975000
Exquisite stone home. Quiet cul-de-sac. 1+/- acres. Impeccable detail + finishes, motor court w 6-car garage. Dormer windows w diagonal panes, peaked arches accent old world architecture. Entry offers views of dining rm + 2-story fireside great rm w 16' windows + flanking bookcases. Arched 8' French doors + 14' ceiling in fireside library. Chefs kitchen w generous counterspace, walk-in pantry, opens to fireside keeping rm w walls of windows + coffered ceiling. Owners suite w 14' ceiling, fireplace, luxury closet 'for her', spiral stairs to 'his closet' + exercise space,

Summary

MLS #5756560
Price1975000
Bedrooms6
Bathrooms (Full)6
Square Footage8200
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

962 Little Darby Lane

Suwanee, GA 30024

$1849999
Exquisite details with superb finishing mark this amazing River Club home! Formal DR w pecky cypress walls, rustic aged exposed beams, handkerchief ceiling in foyer w built in bookcases. Kitchen built for 2 chefs w island feat all Viking appl & custom inlay cabinetry. Owners suite on main. Barn door leads to pool bath, mud rm w laundry & hammered copper sink. Junior master w spa bath. Finished terrace level& outdoor living at its finest. Complete w private 1 Bdrm Guest House w kitchenette & screened porch overlooking saltwater pool w spa.

Summary

MLS #5645985
Price1849999
Bedrooms6
Bathrooms (Full)5
Square Footage7603
Square Footage SourceBuilder
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

878 Crescent River Pass

Suwanee, GA 30024

$1799999
Stunning Brick & Stone Manor home w good golf course views. Outdoor living rooms on multi levels w fireplace overlooking pool & waterfall spa. Chefs kitchen w mixed woods. Working island w veggie sink, warming drawer, Wolf gas coooktop, dual dishwashers, subzero and wine chiller. Main floor boasts study w fireplace, living room w fireplace & stone walls, formal dining room, & owners suite on main. 3 generous ensuite bedrooms upstairs. Terrace level finished w media, billiards area, custom bar, wine, office, & guest bedroom w full bath.

Summary

MLS #5758623
Price1799999
Bedrooms5
Bathrooms (Full)5
Square Footage7316
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

5212 Boulder Bluff Way

Suwanee, GA 30024

$1789900
A cul-de-sac lot, this 6 bed home offers an abundance of outdoor living spaces,spa pool & fire pit backing up to natural woods. Foyer flanked w/a large DR & study.The kitchen has it all: island w/serving bar,walk-in pantry & counter space for the home chef.The vaulted kitchen-family room is accented w/ truss beams. Main floor master has spacious his/her walk in closets. A finished terrace w/ theater, family/billiards & game rooms,full kitchen, weight room, guest suite & BA completes this home.

Summary

MLS #5687744
Price1789900
Bedrooms6
Bathrooms (Full)5
Square Footage7553
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in None

2915 Southers Circle

Suwanee, GA 30024

$1680000
Peaceful estate with all the amenities-an entertainer's delight! Enter through the iron gate & follow the drive through the trees to your new dream home. A must see with no detail forgotten! Gorgeous Chef's kitchen open to keeping room & breakfast area. Master on main. Finished basement w/full kitchen, custom walnut bar, theater room & more. Saltwater pool/spa with auto cover & outdoor fireplace. HUGE shop w/14' RV door & second 12' door, foam insulation, wired 220 w/gas lines run. Enjoy the convenience of the Chattahoochee Recreation Area out your back door.

Summary

MLS #5740199
Price1680000
Bedrooms6
Bathrooms (Full)6
Square Footage5385
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 4 Bath Home in The River Club

4870 Hanalei Hollow

Suwanee, GA 30024

$1599990
Home must be sold with a 18-24 month lease back. Fabulous Arthur Rutenberg Custom Home siutated in the River Valley at The River Club. This stunning home features an open floor plan for entertaining, gourmet chef's kitchen and owners suite on the main floor. Upstairs are 3 additional on suite bedrooms and a bonus room. Home has amazing view of 16th fairway and is walking distance to the club. This home is sold furnished.

Summary

MLS #5765916
Price1599990
Bedrooms4
Bathrooms (Full)4
Square Footage4333
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 6 Bath Home in THE RIVER CLUB

4732 Blackwater Way

Suwanee, GA 30024

$1599900
Sitting beautifully on the 6th hole, this home has all the extensive trim/finishes any discriminating buyer will appreciate! Filled w natural light w features to include solid teak flooring, true hand crafted masonry frpl, planked walls in FR, waterworks faucets throughout, custom interior trim & built ins, calcutta gold marble counter tops, & custom hardware. Home is accented w hand baked brick, stone foundation & slate roof for welcoming appeal. Owner suite up w frpl & bath w waterworks tub, steam shower & bidet. Terr lvl w kitchen/bar & bath. 4 car garage too!

Summary

MLS #5566477
Price1599900
Bedrooms6
Bathrooms (Full)6
Square Footage7800
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 8 Bath Home in Belmore Estates

4994 Price Drive

Suwanee, GA 30024

$1599000
Stunning brick & stone estate on over 1 acre in private gated community. Resort style pool featuring waterfall,slide,hot tub, & fire pit plus covered porch w fireplace.4car garage, 8 fireplaces, 3 laundry rooms. Huge owner's suite w private balcony, spacious secondary bedrooms & lofts. Gourmet kitchen well-equipped w high-end appliances opens to spacious keeping room & breakfast room overlooking pool.Terrace level has 2nd kitchen/bar, theater, fitness, steam sauna, game room, den, & guest suite. MANY details and UPGRADES! Luxurious Lifestyle!

Summary

MLS #5765505
Price1599000
Bedrooms7
Bathrooms (Full)8
Square Footage11592
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4505 Whitestone Way

Suwanee, GA 30024

$1550000
Tuscan columns and a wrought iron railing greet you at the covered porch of this brick & stone estate, inviting you to step inside. The gracious interior includes 12' ceilings, panelled study, sunny solarium with brick walls & soaring arched windows, a chef's dream kitchen w/ honed granite counter tops, soapstone apron sink, top of the line appliances. Tremendous entertaining space with covered outdoor living space including an outdoor dining porch. Guest suite on main lined by leaded glass windows w/ access to the covered porch.

Summary

MLS #5634131
Price1550000
Bedrooms6
Bathrooms (Full)6
Square Footage8187
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

932 Chattooga Trace

Suwanee, GA 30024

$1490000
Modern Day CHIC nestled in the ultra exclusive River Club. Every detail was carefully selected and quality crafted; Reclaimed wood beams & finishes, shiplap & birch walls, Luster Stone walls & ceilings, rich moldings. Master suite on main offers serenity & privacy. Open 2 story family room w/ stone fireplace & T&G ceiling adjacent to the modern renovated chef's kitchen. Enjoy alfresco dining on the covered porch or enjoy smores by the fire on the amazing renovated Trex deck that overlooks the pristine gardens. Full daylight terrace level awaits your finishes.

Summary

MLS #5760185
Price1490000
Bedrooms5
Bathrooms (Full)5
Square Footage5780
Square Footage SourceAppraisal
StatusActive

Features

7 Bed / 6 Bath Home in The River Club

4508 Lochsa Lane

Suwanee, GA 30024

$1490000
Lovely custom brick & stone home in THE RIVER CLUB. Fantastic floor plan W/2 story foyer & LR, executive office, volume ceilings, curved staircase + rear stairs. Beautiful kitchen w/Wolf/Subzero/Bosch/Double ovens & Walk in pantry integrated into cabinetry - overlooks keeping rm w/FP & wood plank ceiling. Guest Suite on Main Level, 4 ensuite BR's up, and 2 BR/1 BA on terrace level along with bar, theater rm (includes equipment) & rec rm. Rear grounds are stunning w/large brick & stone patio, FP, stone pizza oven, grill, sink, stunning hot tub spills over into pool.

Summary

MLS #5743797
Price1490000
Bedrooms7
Bathrooms (Full)6
Square Footage8116
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 5 Bath Home in The River Club

878 Big Horn Hollow

Suwanee, GA 30024

$1488888
Superb craftsmanship reflect in the River Club brick/stone home. Welcoming foyer feat inlaid floors & flanked by gentleman's Study w custom builtins & formal DR. Natural light fills the GR w fireplace & wet bar. Gourmet Kit feat dual Dishwashers, Subzero, Thermador 6 burner cooktop & dual convection ovens, large island & 2 pantries! Main level owner ste w sitting area & spa bath. Stained Canadian Maple hardwood flooring, 2 ensuite bdrms up & junior owner ste w jetted tub & dual vanities. Fin terr includes billiards/game room & gym w rubber flooring w full bath.

Summary

MLS #5758524
Price1488888
Bedrooms4
Bathrooms (Full)5
Square Footage7133
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

5108 Coosa Court

Suwanee, GA 30024

$1475000
Located in a Private setting,home has been meticulously maintained paneled study, gourmet kitchen views to fireside vaulted keep rm,hardwood flooring throughout,master suite on main level w/spa like master bath, his/hers closets w/custom built-ins,second master suite upstairs,large secondary bedrooms w/private baths & great closet space,laundry on main & upstairs cover screen porch w/outdoor fireplace amazing backyard w/stone paver patio that views cascading waterfall & outdoor fire pit.Home backs up to nature preserve,prefect lot for pool walk out from your main floor

Summary

MLS #5765721
Price1475000
Bedrooms5
Bathrooms (Full)5
Square Footage6603
Square Footage SourceTax Record
StatusActive

Features

5 Bed / 4 Bath Home in The River Club

4971 Roaring Fork Pass

Suwanee, GA 30024

$1426000
Stunning J. Patrick O'Donnell brick & stone masterpiece brimming with character in The River Club. Situated on wide lot with preserved forest area, this 5BR, 4 and 2 half BA home is loaded with high-end features, including custom closet system in elegant master retreat on main. Chef's kitchen with pot filler, beverage refrigerator, warming drawer, farm sink, sliding barn door and Wolf range opens up to vaulted, beamed ceilings in family room and screened porch with fireplace. Perfect for entertaining! Full daylight lower level is framed, roughed in for lg in-law suite.

Summary

MLS #5706779
Price1426000
Bedrooms5
Bathrooms (Full)4
Square Footage5000
Square Footage SourceBuilder
StatusActive

Features

business of real estate | Garage with a Detached Home | Gwinnett County GA

LaneBailey.com

Garage with a Detached Home

Contact Lane
  • Custom Listings

    Sign up to get notified when new listingscome on the market that meet your specs.

    Read More
  • What's YOUR Home Worth?

    Get a free Maximum Price Analysis to find out the current market value of your home.

    Read More
  • Browse Listings

    Take a look at what is currently on the market in the areas that interest you.

    Read More
  • 1

Category Archives: business of real estate

Mortgage Thoughts from Ken…

One of the mortgage guys I work with not only has it on the ball… but he does a pretty good job of writing about it…

Here are three recent posts from Ken that people getting mortgages… or thinking about it… should read:

A real pre-qualification can take as little as a couple of hours and a seasoned loan professional can easily guide you through the process. Anyone who gives you a pre-qualification over the phone without having seen any evidence to prove what you have said is giving you a decision based on credit and payment history with your statements only. This type of pre-qualification is what gives loan officers a bad name.

When Should You Get Pre-Approved For A Purchase Loan?

There are different levels of approval with virtually every mortgage application to loan process and agents we really need you to do your best accept them even if you don’t understand them. Otherwise you’re going to continue driving the loan officer (me 🙂 nuts and forcing the weaker ones to lie to you or avoid you. Let me help you not contribute to their delinquency by briefly explaining some of the levels of loan approval and addressing how I handle them individually.

Pre-Approval, Approval, Conditional, Cleared – What the ____?!

Almost every loan application has some similar needs. If the agent knows what these are and can help prep the client to get these together quickly and accurately then the agent and the loan officer can start out by standing on the same side of the mud puddle and pulling the same direction on the rope. These are not absolutes and are not carved in stone but at least 9 of 10 loan applications need most of the following:

How To Help The Loan Go Smoother and Faster

Enjoy these posts.  They will go a LONG way towards getting you on the track to home ownership.

The Press Is On…

Dale Stinton, CEO, National Association of Rea...
Image by whiteafrican via Flickr

I have recieved emails this morning from the NAR and from my local association regarding the $8,000 First Time Home Buyer Tax Credit.  There is a full court press from the National Association of Realtors as well as the local associations to not only continue, but expand this program.  And there is NO doubt that the program has been effective, especially in the last few weeks.  Entry level home sales are up.

But, honestly… it needs to end as scheduled.

But it is helping my business…

I can hear some of my real estate agent friends saying that very thing.  That is the basis of why the NAR wants to continue the program…  But, we really need to examine the long term implications of what we are doing.  NOT paying attention to the long term implications of current actions are what made this problem to begin with…

Whether you think that the bubble was caused by the Community Reinvestment Act, Fannie and Freddie pushing for lower and lower barrier to home ownership, out of control credit markets or even just people buying more home than they could afford… thinking that they could always bail out for more money… it is obvious that nobody had their eyes on the future.

And there is an solid fact… the market is going to find its bottom, and then begin recovery. No matter how the government intervenes, the market HAS to find a REAL bottom… a place where people look at their situation, and see that homes look like a deal and they feel like it is time to jump.

Many think that the initial $8,000 FTHBTC short circuited the process and gave the market a bottom.  But, there are some economists that think the bottom was happening anyway… others think that prices may go down after the tax credit expires.

If prices may go down when the tax credit expires… we need to keep it!

Newsflash.  If we aren’t at the bottom, and prossibly even if we were, prices will likely go down when the tax credit expires.  Demand has been juiced in the last few weeks because of the immediacy of the tax credit expiring.  That has eaten a little of the supply and buoyed prices.  If the Tax Credit is extended, the immediacy goes away and demand will slacken again. If the tax credit goes away, the demand will still slacken.  The difference is that our children and grandchildren won’t be left with yet another bill from the government.

But, what happens when the demand weakens and prices start to drop?  Gee… I don’t know…  what happens when the store runs a sale and you can get that flat screen you’ve been looking at for the last 3 months?  If you have a little money saved up, you go buy it.  That is the market working.

Prices will drop, and people will buy properties that seem like good deals to them.  A few buyers in the market will see properties that they have been eying getting snapped up before they respond… and the market will start its recovery.

The Home Buyer Tax Credit is a stalling tactic…

That’s all.  It doesn’t create recovery, it spurs demand from the people that were on the fence… but we need a constant stream of people coming OVER the fence.  The ONLY way to do that is to make people comfortable with their jobs and with the family finances.  The economy needs to begin recovery for that.  Adding more deficit spending isn’t going to do that…  That actually hurts, because it places a restriction on credit availability… subject for a different blog post…

The bottom line is that housing has to recovery naturally.  Yes, real estate agents have been helped by the program, but it is our kids that will get the bill for that help.  We need to call a stop to this before it gets more out of hand.

originally posted to GwinnettGarageGuy, another of Lane’s blogs

Reblog this post [with Zemanta]

Thinking of a house with a big garage in Gwinnett County, GA?

Gwinnett County, GA (just outside Atlanta, if you aren’t already familiar) is a great place to live… especially for car people, it seems.  There are some great opportunities to find 4+ car garage homes here in Gwinnett.

exterior_2.jpgThere are rules that disallow promoting listings that aren’t my own, so I can’t give identifying information, but I am going to describe several homes in at various price points.  The pictures are from a property I have listed at 590 Baltimore Ave in Lilburn, GA.

Overall, there are 138 properties in Gwinnett County, GA that are listed with 4+ car garages.

Under $200k…

Surprisingly, there are 22 homes under $200k in Gwinnett listed with 4+ car garages.  And some of these are quite nice.  There is a home in Buford that I visited last week that is very nice.  It has two different two car garages, one is attached and the other is detached.  It is also recently renovated.  New carpet, paint and appliances.  It comes in slightly under $190k.  Other properties come in as low as $120k.  I haven’t been to some of them, so the condition might be a little rougher…

Under $400k…

driveway_3.jpgThere are 22 more properties priced from $200,001 to $400,000 with 4 or more car garages.  These are some REAL gems in this group.  The pictures on this post are from my listing in Lilburn with 2 two car garages.  It is a beautiful home on almost 4 acres… but only minutes from downtown Lilburn.  Right at $300k, there is an amazing house in Lawrenceville.  I have not been in it, but I believe it is a 4 car attached garage.  This is a brand new home that is a builder close-out.

Under $750k…

There are 32 properties in the $400,001 to $750,000 range.  These are obviously more luxurious.  There are homes in Sugarloaf, Chateau Elan and Garner Creek at Parkview.  There are several that are brand new.  There is a very attractive short sale in Grayson.  I have been in the neighborhood, and possibly this house (I can’t recall from the pictures, I would have been in it before the current sellers bought the home).  At $700k, it sits on almost 3 acres.

Moving on up… Over $750k…

Most of the 62 homes that are listed in this range aren’t really enthusiast homes, but rather big houses with big garages…  but there are exceptions, like a home in Lawrenceville, priced just under $1m with a detached workshop… looks like it would hold a few cars.  It also sits on over 7 acres.

There are a few other properties that are exceptional, including some with 5 or more car garages…  Pricing goes up to $8.5m.  There are even some bank owned properties in this range that could be great deals for the right buyer.

(note:  Due to limitations in the public database, links are to searches for homes with 3 or more car garages.  If you contact Lane, he can set you up with a custom search that is limited to 4+ car garages.)

Enhanced by Zemanta

Is this the time to buy your first house?

The effective federal funds rate charted over ...
Image via Wikipedia

Maybe…  Maybe not…

Make no mistake, there are some deals in the market.  And combined with the $8000 First Time Home Buyer Tax Credit (FTHBTC), this can be a great time to buy a first home.  Interest rates have remained low… despite a LOT of predictions to the contrary.  In fact, with a projected deficit THIS year of $1.8T for the federal government, there is still an expectation that rates will have to rise because of the pressure on the available investors.

In fact, that would be the case laid out by those that say THIS is the time.  The FTHBTC is coming to a close on December 1st.  And while that is almost two months away, in the world of home search and financing, two months can go by pretty quickly.

On the other hand…

There are some points that would suggest that for some buyers, waiting a little longer might be just the ticket.  In fact, waiting until AFTER the FTHBTC expires could be a better move for many buyers.

Just as with the Cash for Clunkers program, the tax credit is pushing some buyers into the market that might not have jumped in otherwise.  And we have seen upward pressure on prices for entry level homes.  Buyers, in some cases, are bidding up the prices for some homes.

By waiting until many of the buyers have abandoned the market… after the tax credit expires… there is a belief that prices may drop.  Some think that the drops may be more significant than just the $8000.  They feel that sellers may become quite lonely by January, and may be willing to offer better deals on their homes.

Others have also speculated that there might be a new program from the government to replace the $8000 First Time Home Buyer Tax Credit.  There are plans to offer a $15,000 tax credit, as well as to continue the current offering.  Nobody knows if these plans will come to fruition.

What does it all mean?

For “First Time Buyers” with solid cash resources, waiting may be a better plan.  For those that would be better off paying a little more, but getting the $8000 in a few months, getting on the ball and buying a home soon could be a better way to go.

Don’t forget, “First Time Buyers” are those that haven’t owned a house in the last 36 months.  The credit is for 10% of the purchase price, up to a credit up $8000.  In GA, there is an additional credit of up to $1800 that may be available… even for those that aren’t first time buyers.

If you are looking for a home around Lilburn, GA, give me a call and I can help guide you through the process.

from GwinnettGarageGuy.com

Reblog this post [with Zemanta]

Who needs Title Insurance?

1st third of 16th century
Image via Wikipedia

There are two basic types of Title Insurance…

  • Lender’s Title Insurance
  • Owner’s Title Insurance

Lender’s Title Insurance

If you are buying a home with a loan, you will probably be required to buy Title Insurance for you lender.  What the Title Insurance will do is protect them from damage if there is a claim (or cloud) on the title to the property.

Let’s say that there is a will discovered that means that someone in the past sold the property but didn’t have the right to sell it… it could nullify the ownership of the current “owner”.

The Lender’s Title Insurance would pay off the lender for their loss… or, more likely, pay off the claim to buy out the interest of the new claimant.

Owner’s Title Insurance

You lender isn’t going to require that you buy Owner’s Title Insurance.  They don’t care…  It protects YOU from loss in the above situation.  Basically, it protects YOUR equity.

Honestly, Owner’s Title Insurance can be a profit center for the closing attorneys.  They make money selling the policies… although most won’t press anyone to buy it.  For most buyers, it is an optional expense that is worthwhile…

Case Study…

Here is a situation that I am seeing right now…  A seller (not my client) has a property that is under contract.  They purchased it last year out of foreclosure.  During the standard title search a lien was missed.  Now there is a lien on the property that doesn’t belong to the seller.  There is no lender involved.  Basically, they can’t sell it until this is resolved.  They have hired a lawyer to deal with it.

Keep in mind that these situations are quite rare… but they can be financially devastating.  Imagine living in a home for a while and building up some solid equity.  And then, out of the blue, losing the home and the equity.  Rare… but devastating.

Reblog this post [with Zemanta]
Copyright © 2009 - 2016 Garage with a Detached Home | Gwinnett County GA. All Rights Reserved. Created by Blog Copyright.