Total East Atlanta Renovation coming soon!!!

Check out this amazing foreclosed home now under contract, but coming back with total renovations for the print time — UNDER CONTRACT, this amazing 2895 SF home with four bedrooms, three and a half baths, formal living and dining rooms, Large family room and Amazing private back yard get away with Jacuzzi and out door fireplace is under total renovation. The estimated sales price is $379,900 with granite counters, stainless steel appliances and more. This home is on very sought after Hudson place in East Atlanta. This exclusive Bru Krebs listing will be ready for move in in the spring. Call Bru Krebs at 404-849-2623 to get on the waiting list for buyers. This one is one not to be missed.

All indicators are that now is the time for you to set yourself up for a wealth retirement. All indicators are starting to show that 2012 is the year for the real estate market finally hitting bottom and starting to recover. In fact the federal government is considering over 4000 recommendations for turning foreclosed homes into rental properties in an effort to shrink the foreclosure inventory across the country.

According to DSNEWS in an article by Carrie Bay, dated 1/18/2012 “The FEDERAL HOUSING FINANCE AGENCY (FHFA) has said it is pushing potential ideas for REO-to-rental pilot programs ‘with a sense of urgency,’ but two California firms don’t plan to wait on the government’s involvement to get a large-scale REO rental venture off the ground.

SEE MORE AT: http://www.dsnews.com/articles/firms-launch-450m-program-to-convert-reos-into-rentals-2012-01-18

At Prime Real Estate we are also seeing this as a very viable program, especially in Atlanta where foreclosure activity still has not slowed like most of the country. As a long time participant in the rental property industry, I have found this to be particularly true. There has never been a better time to buy properties with immediate cash flow, and there are lots to choose from. We have a great inventory in house of potential rental gold mines for our buyers as well as we are aware of many others who have similar inventories.

Our REO expertise at Prime Real Estate has lent itself well to helping our clients above all make the most of their money and investments. We also add great additional components with our builder/renovation affiliates and lender partners that make your buying for investment more successful and profitable than ever.

As a former home builder myself, I have been able to very successfully guide my clients through the marketplace and quickly identify the right properties to move forward on. We have found it to be the biggest wealth building tool in the marketplace.

Expertise in the REO sales business, combined with expertise in construction and the right partners makes us the perfect choice not only for REO sellers, but also for REO buyers. Your future is calling. Are you going to answer?

The most recent foreclosure news from DS NEWS 4/12/10 says

“Despite servicers’ efforts to modify unprecedented volumes of troubled mortgages and a large-scale government-led program put in place to stem the nation’s viral foreclosure epidemic, they haven’t been enough to keep up with the rapid pace of loan deterioration, according to new data from Lender Processing Services (LPS).
A market report released by the company Monday shows that the total number of delinquent loans as of the end of February was 21.3 percent higher than it was a year earlier. Although the data showed a small 1.45 percent seasonal decline in delinquencies from January 2010 to February 2010, LPS reported that the national delinquency rate still stood at 10.2 percent.

Although delinquencies remained relatively level, the nation’s foreclosure inventories reached record highs in February. Based on LPS’ analysis, the foreclosure rate of 3.31 percent represented a 51.1 percent year-over-year increase.

Furthermore, the percentage of new problem loans is also at its highest level in five years. LPS found that more than 1.1 million loans that were current at the beginning of
January 2010 were already at least 30 days delinquent or in foreclosure by February 2010 month-end.

According to the company’s data, the number of non-current first-lien mortgages and REO properties now total more than 7.9 million loans.

LPS noted in its report that as a result of the federal government’s Home Affordable Modification Program (HAMP), delinquent loans that were modified and that remained current through HAMP’s three-month trial period – called “cures-to-current” – have increased. Advanced delinquency rolls, however, remain elevated from a historical perspective, the company said.

Both delinquency and foreclosure inventories remain bloated, LPS said, thanks to high volumes of problem loans in combination with prolonged loss mitigation efforts and foreclosure moratoria.

With 10.2 percent of borrowers delinquent and 3.3 percent in foreclosure, the nation’s total rate of non-current loans has hit 13.5 percent, LPS said.

Based on the company’s analysis, the states with the most non-current loans include: Florida, Nevada, Arizona, Mississippi, California, New Jersey, Georgia, Illinois, Ohio, and Indiana.

The states with fewest non-current loans are: North Dakota, South Dakota, Alaska, Wyoming, Nebraska, Montana, Vermont, Colorado, Washington, and Minnesota.

Commentary from Freddie Mac’s economic team Monday says, “The current large backlog of seriously delinquent mortgages remains a daunting prospect for many local markets across the country, and it may take two years or more to return to more normal housing market conditions.””

Call your Prime Real Estate foreclosure expert to find out more

Just announced by fannie MAe (FNMA) is a great new incentive for those foreclosed homes missing their appliances. FNMA is offering up to a 3.5% incentive toward, Closing Costs, The purchase of Wirlpool Appliances or a combination thereof. Call your Prime Real Estate FNMA specialist today for more information.

To be eligible for the program, the following criteria must be met: The offer must be written AFTER January 28, 2010, The property must close before May 1, 2010 and the buyer must be an owner occupant. Second homes are also eligbile as long as they are owner occupied. Investors are excluded from the program.

So act quickly as time is almost gone for this program. Call Me or any of yout Prime REO specialists at 404-685-3774 or visit our web site at www.atlprime.com

Prime Real Estate is the perfect choice for banks looking to sell foreclosed homes in the metro Atlanta area. With years of experience in selling REO properties, Bru Krebs and his Prime Real Estate team know the business and how to help banks minimize losses and maximize their resources.

Clients include, Fannie Mae, First Preston, Bank of America, Countrywide, Green River Capital, Gramercy Auctions, REDC and more. The Prime Real Estate team focuses on selling REO properties and helps both banks and investors with these proeprty transactions.

From cash for keys to lockout to marketing and closing, Bru Krebs and the Prime Real Estate team know the business inside and out.

Whether working through a web based system like REOtrans or RESnet or using supplier specific software such as Multiforms, this team has all the resources to get REO properties sold quickly.

For more information request a powerpoint or PDF resume from Bru Krebs – bru@atlprime.com.

The Prime Real Estate Team is the perfect partner for selling REO properties in Metro Atlanta. Call our offices at 404-685-3774 or visit our web sitte at www.atlprime.com.