Brian Vanderhoff's North Fulton Real Estate Blog

by Aldo Nahedwrite the author www.northfulton.com


May 02, 2014
FORSYTH COUNTY, Ga. — Initial plans were submitted for a development in west Forsyth County that hopes to build a housing complex of 572 houses and 124 townhomes on 443 acres.

Lennar Georgia, whose offices are in Roswell, has plans to build The Mountain Crest project, which consists of 572 single-family homes and 124 townhouses west of Cumming on 443 acres along Chamblee Gap Road and Brookfield Circle off Bethelview Road, according to a zoning application filed with Forsyth County Planning and Development.

The proposed $280 million project, to take place over multiple phases through 2022, would include a trail network to the Big Creek Greenway, according to a Development of Regional Impact filing with the state Department of Community Affairs.

The property owners include Pete Amos, a business owner and Forsyth County Board of Commission chairman, along with his wife Catherine Amos, Slate Properties and Cheatam Creek. The attorney representing the development is Josh Scoggins of Lipscomb, Johnson, Sleister, Dailey and Smith.

"It's been in our families for over 60 years, and I can't take care of it anymore," said Pete Amos. "My son doesn't want to be a farmer, so it's time to sell."

The development calls for 1.6 units per acre.

"I think the development has 200 acres of green space," Amos said. "What other development has that much green space? We took the best developer out there and Lennar did a good job with it."

As a first step, anything that has over 300 lots applied with the county must go before the Georgia Mountains Regional Commission, and nothing can be done before the comments are addressed.

This used to be a common practice with the development boom of the county in the early and mid-2000s.

This is the first development to undergo this in a long time, Amos said.

The next step is the variance the applicant is requesting, which includes a reduction in the required commercial and office use of the land developed from 25 percent to zero. The applicant is also requesting a reduction in the stream buffer, or area around a stream, from 50 feet to 25 feet.

For more information on this zoning, visit http://bit.ly/1oartK8.

Labels: Forsyth, Forsyth County, Housing complex, Lennar

Tightening inventory and declining distressed sales both have contributed to asking prices and sales prices rising in Forsyth County.

The lower inventory is driving buyer demand, especially for properties with updated features and finishes.

Despite some communities still dealing with the occasional short sale or foreclosure; the county as a whole is doing well.

February sales data is in and the number of single-family homes sold this February jumped 49 percent compared to February 2012.

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The average sales price for those homes leapt from $240,063 to $264,960. A whopping 10 percent increase over a year ago.

Although prices are showing strong gains, we still have a way to go before we return to peak-level values.

A comparison of home values in Forsyth County to their near peak levels shows prices are still down approximately 20 percent from their highs.

New construction inventories are positioned to climb over the coming summer which may prove to be a release valve for the low inventory and give re-sellers more competition. However, there are a couple of reasons why I think buyer demand is likely to remain strong.

First, companies are moving more people; the number of relocation buyers is increasing. Secondly, we will see the "boomerang" buyers. Those buyers who lost their home in a short sale or foreclosure during the housing bust. Those buyers will be re-entering the market, anxious to return to home ownership.

Labels: Foreclosed, foreclosed homes, foreclosed homes for sale, foreclosed properties, foreclosure, Foreclosures, foreclosures for sale, Forsyth, Forsyth County, Forysth, Home Sales

FORSYTH COUNTY, Ga. — Rape. Molestation. Robbery. These are just some of the crimes listed for the fugitives currently on the Forsyth County Sheriff's most wanted list.

The list includes 10 fugitives, but depending upon local criminal activity, the number can be higher.

In 2011, the sheriff's office arrested 15 fugitives from the list.

"We work diligently to apprehend all fugitives," said Capt. W.C. Barrett of the Forsyth County Sheriff's Office. "We list their pictures and date of birth and description on our website for public access, and we ask that the public notify us if they've seen any of these fugitives."

Barrett went on to say the sheriff's office does not want the public to put themselves in harm's way to report sightings or crimes.

"It's our job to keep the community safe," he said.

So far this year, nine have been caught, but the list continues to grow.

The county works with the U.S. Marshals Office, as well as state and other national agencies to catch these wanted fugitives.

Listed in the gallery to the right, in no specific order, are the top 10 fugitives currently wanted in Forsyth County. Click the photos to read more about them.

If you have any information regarding any of these individuals, please contact the FCSO hotline at 770-781-3073. For an updated list of the 10 most wanted, go to www.forsythsheriff.org.


http://www.northfulton.com/Articles-NEWS-c-2012-08-27-194781.114126-sub-WANTED-10-most-wanted-fugitives-of-Forsyth-County.html

Labels: Forsyth, Forsyth County, Forysth, Forysth County, fugitives, most wanted

To celebrate the New Year, KM Homes is rolling out fantastic promotions at several communities. At Evans Farms in Forsyth County, the builder is offering homebuyers up to $12,000 in savings. From now until Jan. 31, 2012, you can take advantage of the following offer for the Home of the Month:

$5,000 flexible spending cash to spend any way you choose!
Move-in package featuring free blinds, a free refrigerator and free washer/dryer
$3,500 in closing costs when using a KM Homes preferred lender
Evans Farms offers a Home of the Month, allowing you to save even more on a new Forsyth County home. Homesite #158 features a beautiful two-story house with 5 bedrooms, 4 baths, 3,004 square feet of space and a full basement. This home has a beautiful brick and siding exterior with a welcoming front porch. The two-story family room opens into the breakfast area and kitchen. The kitchen offers everything you could want: upgraded cabinets, granite countertops, stainless steel appliances and tile backsplash. The 1st floor also features a study and separate dining room. This home offers upgrades throughout, including a granite fireplace surround, master bath package, trim, door hardware, lighting and colonial stair railing. There are hardwoods featured in the kitchen, breakfast area, powder room and dining room. This home is available for just $272,568.

Evans Farms is a wonderful community for active families. It boasts an impressive array of amenities, including an open air cabana with outdoor fireplace; junior Olympic pool with colorful tumbling water buckets; tennis courts; and community pocket parks with playgrounds. Evans Farms also features a two-acre community playfield that is great for outdoor sports.

Children in the community attend Sawnee Elementary, Vickery Creek Middle and West Forsyth High schools.

For more information on Evans Farms, please contact 770-331-1206

Labels: Foreclosures, foreclosures for sale, Forsyth, Forsyth County, KM Homes, New Homes

Carrabba's Italian Grill restaurant has submitted plans to build a restaurant location at the Avenue Forsyth.

Plans were submitted Jan. 2 for a restaurant on 1.5 acres at 410 Peachtree Parkway in Cumming.

Forsyth County Planning and Zoning officials will review the submitted plans Jan. 11.

Carrabba's is owned by Tampa-based OSI Restaurant Partners, which also operates Outback Steakhouse, Bonefish Grill, Fleming's Prime Steakhouse & Wine Bar and Roy's Hawaiian Fusion Cuisine restaurant brands.

For the company's third quarter, which ended Sept. 30, OSI reported same-store sales increases across all brands. Carrabba's reported a 6.3 percent increase.

OSI Restaurant Partners is the ranked No. 2 in casual-dining company in terms of revenue. Darden Restaurants, which runs Olive Garden is ranked No. 1.

The closest Carrabba's for Forsythians is in Duluth. There are also Kennesaw, Atlanta and Dunwoody locations of the Italian eatery.

Labels: Avenue Forsyth, Carrabba's, Forsyth, Forsyth Avenue's, Forsyth County, Forysth, Forysth County

CUMMING, Ga. — From her home, Meg Sparwath can hear the West Forsyth High School marching band — Pride of the West — rehearsing.

Sparwath lives in the Ashebrooke neighborhood, about 1.5 miles from the school, but her daughter will not be attending West.

"They are trying to move us to Forsyth Central High School, which is over four times as far for us," Sparwath said.

Sparwath is one of several Ashbrooke residents upset at the newly redistricted student attendance lines, which places the Bethelview corridor students at a new high school.

Redistricting for the 2012-13 school year also adjusts feeder patterns and moves students from North Forsyth HS and West Forsyth HS to Central HS, which is under capacity by about 750 students.

"Because there's no funding for any new high schools or any additions in the foreseeable future, we have to relieve West and also populate Central," Jennifer Caracciolo, Forsyth County Schools spokeswoman, said. "West is not over capacity, but looking into the future, they will be next year."

North Forsyth High School is currently over capacity.

Forsyth County School officials began the redistricting process in order to populate the new Kelly Mill Elementary School.

The school district staff has received feedback on the first and second drafts of the 2012-13 attendance lines from local school councils at impacted schools that also include Chattahoochee Elementary School, Coal Mountain ES, Cumming ES, Sawnee ES, Vickery Creek ES, Whitlow ES, Liberty Middle School, Little Mill MS, North Forsyth MS, Otwell MS and Vickery Creek MS.

Feedback on the proposed redistricting of students is being collected until Oct. 31 through the Forsyth County Schools website www.forsyth.k12.ga.us.

Sparwath said the proposals she has seen do not include changes to the Bethelview corridor that residents have requested. She plans to continue to oppose the drafts to the local school councils and the Forsyth County Board of Education. Sparwath said among her concerns is longer travel times if there's after-school participation.

"Basically, we think they are not supporting us and they are just worrying about numbers," Sparwath said.

Caracciolo said the board of education wants to let local school councils collect the information prior to finalizing the maps in November.

At 7 p.m. Tuesday, Oct. 25, a public hearing will take place Forsyth Central High School, 520 Tribble Gap Road in Cumming. Several parents will voice their concerns with the redistricting, and school board members will be there to hear the feedback from the community. They will discuss all of the concerns they collect at their Nov. 3 meeting.

"Now, it's opened up for everyone to give feedback," Caracciolo said.

Labels: Forsyth, Forsyth County, Forsyth County Schools, Forysth, Forysth County, school district, School Redistricting, schools

CUMMING, Ga. — Cumming Police said it had obtained warrants for the arrest of a 36-year-old Cumming resident who is accused of taking nearly $8,000 from a school's parent teacher organization (PTO).

Jamie Garfield, 36, of Cumming, was charged with theft of funds from the Cumming Elementary PTO.

Garfield formerly served for several years as the treasurer for the Cumming Elementary PTO, according to a Cumming police spokesman.

At the time the theft was reported in August 2010, she was no longer treasurer, said Sgt. Bryan Zimbardi.

Warrants were taken for the amount of $7,911.82.

"She's still under investigation for a much larger amount," Zimbardi said. "Right now, the warrant was taken for $7,911.82."

"There's still a fair portion of this that is under investigation," Zimbardi said.

The thefts were occurring for about 21 months prior to August 2010.

"A lot more information will be released when this case is closed," Zimbardi said.

The thefts were discovered when board members of the Cumming Elementary PTO learned one of their accounts was overdrawn.

The elementary school PTO members approached Cumming Police Department, which launched an investigation of suspected criminal activity. The PTO is an organization made up of volunteers.

PTO groups are not under school district oversight and often raise funds for additional learning resources and student equipment not covered by a school's budget.

The PTO has reinforced its monthly financial review with additional oversight and annually completes an external audit.

Cumming Police Department's Criminal Investigation Division finished its investigation recently and obtained warrants from Superior Court for Garfield's arrest.

At this time, Zimbardi said, Garfield's whereabouts are unknown. The Forsyth County Sheriff's warrant division is looking for her.

"Though the PTO is a separate organization that is not under the school district's financial controls or procedures," said Forsyth County School District Spokeswoman Jennifer Caracciolo. "We are always saddened when there are allegations of behavior by adults that negatively impact children in any way."

Labels: Cumming Elementary, Forsyth, Forsyth County, Forysth County, PTO

Traton Homes is offering home buyers up to $20,000 in savings of a new home in Atlanta during their 39th Anniversary Sunsational Summer Savings. Through September 21, 2010, prices have been reduced and/or incentives offered on 17 remaining new homes in East Paulding, Cherokee, Cobb and South Forsyth.

The featured homes now range from $189,700 for homesite #129 in Rosewood Park in East Paulding to $462,900 for homesite #34 in Kennesaw’s Paper Chase Farm. At all price points in between, buyers will find sale priced homes in Stonehaven at Vinings in Smyrna; Estates of Fernwood Creek near Roswell; The Pointe at Kirk Farms and Paper Chase Farm in Kennesaw; and Lochshire and the Gates at Parkside Village in Cobb.

The Gates at Parkside Village offers the only townhome on the list, with the three-bedroom end unit at homesite #46 reduced to $249,900. The old world feel of the community is accentuated by luxurious interiors appointed with granite, rich mouldings, hardwood floors and more. Proximity to Kennesaw Mountain Park and the Marietta Square means dining, shopping and recreation are nearby.

One ready to move-in home located in Kennesawy’s Paper Chase Farm is reduced to $462,900 during Traton’s Sunsational Summer Savings. Located in a community where homes are priced up to $1 million, the five-bedroom, four-bath home on homesite 34 has a guest suite on the main level with a luxurious owners suite, three additional bedrooms and a media room upstairs. The home is on a basement lot with a 3-car garage.

Traton Homes is known for offering homebuyers “Altogether More!” with more experience, more impressive architecture, more outstanding features and more rewarding lifestyles. Traton currently has 14 communities throughout Atlanta. With homes in Cobb, Cherokee, Roswell, Fulton, Paulding, South Forsyth and South Fulton, buyers are sure to find the location and features they desire.

If you’re ready to join the nearly 7,000 Atlanta families who come home to their Traton home each and every day (and take advantage of Sunsational Summer Savings before it’s too late), visit the Traton Homes website today.

Labels: Cherokee COunty, Cobb, Cobb County, Forclosures, Foreclosed, foreclosed homes, foreclosed homes for sale, foreclosed land, foreclosed properties, foreclosure, Foreclosures, foreclosures for sale, Forsyth, Forsyth County, marietta, Traton Homes

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Brian and Jennifer Vanderhoff
North Fulton County REALTORS
Vanderhoff Real Estate
(770) 888-9269
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Milton, GA Real Estate, Condos, Homes for Sale
North Fulton County, GA Real Estate, Condos, Homes for Sale
Forsyth, GA Real Estate, Condos, Homes for Sale
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Labels: Forsyth, Forsyth County, Forsyth County Schools, school calendar

A $550,000 project to improve the Bethelview/Drew Road intersection got approval from Forsyth's Board of Commissioners during their Oct. 15 work session.


The project had been put on hold as county staff was asked to determine how moving this up as a top priority project would affect other high priority projects. Chief Financial Officer Bill Thomas said while some projects would be affected by budget shortfalls, this project would not have an adverse affect.

"I am comfortable with it," Thomas said.

The project had been proposed for a higher priority because the widening of Bethelview Road has been delayed. Coupled with West Forsyth High School being located on Drew Road, the intersection improvement project was recommended as a public safety issue.

County Engineering Director John Cunard said first the project will be designed, followed by acquisition of easements and rights of way.

"As soon as that is done, we would bid out for construction," he said.

Commission Chairman Charles Laughinghouse said the problem with Drew Court is limited visibility at the intersection, making motorists take their lives into their own hands when driving through it.

Cunard said designs should be done by spring, with easement and right of way acquisition soon after. Construction could begin next summer, with the project completed in fall 2010.
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Brian and Jennifer Vanderhoff
North Fulton County REALTORS
Vanderhoff Real Estate
(770) 888-9269
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Milton, GA Real Estate, Condos, Homes for Sale
North Fulton County, GA Real Estate, Condos, Homes for Sale
Forsyth, GA Real Estate, Condos, Homes for Sale
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Labels: dangerous intersection, Forsyth, Forsyth County

Forsyth County will hold the line on taxes for general government spending, but County Commission Chairman Charles Laughinghouse warns the decision could lead to “extra draconian” spending cuts such as layoffs.

Without a tax increase, county staff has forecast a shortfall of as much as $15 million in the proposed $90 million general fund budget for 2010.

Laughinghouse was the only member of the five-member commission who supported a tax increase for general fund operations

Thursday’s vote came after three public hearings on plans to raise the millage for maintenance and operations and fire services by a combined 0.744 mills, or about $53 on a $200,000 home.

“I don’t think this is the right time to be raising taxes,” Commissioner Brian Tam said before the meeting.

The budget will not be given final approval until December, and officials are looking at employee layoffs, furloughs and unpaid holidays, spokeswoman Jodi Gardner said.

Labels: foreclosure, Foreclosures, Forsyth, Forsyth County, tax hike

Several years ago the graceful, long-necked birds showed up unannounced and were quickly adopted as mascots for the wooded town of 500 people built around two lakes in north Fulton County.

When a coyote killed Juliet, residents made sure the male, Romeo, was provided another love interest, also named Juliet. When she died of an infection caused by a fishhook in the neck, they came up with Viola last fall.

Residents loved to see the swans cruising the lake, but Mayor Jim Still said the birds and the town never had the right chemistry. The swans were too aggressive, especially at nesting time.

"It made it a little hard to go on the swing set when you had a large white swan chasing you," Still said.

The real violence started a few about a month ago when Viola's leg was mangled, apparently by a snapping turtle, said Karen Segars, the clerk and Mountain Park's only full-time employee.

Viola spent 10 days at the veterinarian and ran up a $1,000 bill, paid by a local civic club. The three cygnets were so young they had to stay with Viola. When mother and babies returned, Romeo started hurting a cygnet, apparently viewing it as a rival for food, Segars said. Viola joined the beatdown.

"Children were hysterical because the mother and father were attacking a baby swan," Segars said. "The decision was made on the spot that the babies must be saved."

In the following days, Romeo crossed into Lake Garrett and started killing wood ducklings. Before, he'd stuck to Lake Cherful. The city council called a special meeting June 27 and decided to find a new home for the birds. By that time, the birds had been moved to a private pond near Cumming, Segars said. The cygnets were sold, the money used to pay part of the vet bill.

That's the swan song for Romeo and Viola.

"They coexisted for several years," Segars said. "Then whatever happened, happened."

Labels: Forsyth, Forsyth County, Mountain Park, North Fulton, Swans

Commissioner Brian Tam announced Wednesday his candidacy for the Georgia House of Representatives. Tam is seeking to succeed Representative Tom Knox, who announced last week he will not seek another term.

Tam, who has been a resident of Forsyth County for more than 15 years, operates Tam's Backstage in Cumming with his wife, Kelly. In 2007, Tam's Backstage received the Partners in Education's Gold Level Award for its commitment to supporting quality education.

As a graduate of Leadership Forsyth, a recipient of the Don Hendricks Memorial Award, a partner in education for many of our local schools and as a recipient of the 2008 Georgia Association of Elementary School Principals' Patron Award, Tam said he understands the importance of giving back to his community.

"As a Commissioner, I have had an unparalleled opportunity to make a difference in the direction of our community," said Tam. "I am seeking election to the Georgia State House because I am committed to continuing to ensure our community reaches new heights."

In 2008, Commissioner Brian Tam was successfully reelected to serve a second term on the county commission with more than 55 percent of the vote—avoiding a runoff in a four-way contest.

"In these tough times we need leaders who understand how to create jobs and revitalize our economy," said Tam. "As a small business operator, I understand what it takes to maintain a budget and to meet a payroll."

Tam's direction and vision have led to the acquisition of hundreds of acres of greenspace, a recreation center at both Buice and Fowler Parks, the implementation of an early warning weather system to guarantee the continued safety of local residents, and an additional Sheriff's precinct located adjacent to South Forsyth High and the widening of Highway 141.

"As a steward of Forsyth County, it is my responsibility to preserve our quality of life," said Tam. "With the continued support of Forsyth County voters, I will ensure Forsyth County has a strong voice in the state legislature."

John Clark, former Chairman of the Forsyth County Parks, Recreation and Greenspace Bond Committee describes Tam as " a conservative and family man who will vote the values of the 24th House District."

"Commissioner Tam has been a strong voice for families across Forsyth County and I am proud to support him in his candidacy for State House," said Clark. "Not only will he continue to be a voice for our community, but, he will also be a voice for all of Georgia."

Brian and his wife, Kelly, reside in South Forsyth with their three children.

Labels: Brian Tam, commissioners, Forsyth, Forsyth County, georgia house of representatives

Forsyth County Sheriff Ted Paxton is recuperating after a recent motorcycle accident that left him with seven broken ribs, a broken shoulder and broken left collarbone.

Paxton said he had been riding his 2005 Harley Davidson Softail motorcycle in the mountains all day with a female friend. Shortly before 6:45 p.m., he was on U.S. 19 between Dahlonega and Cleveland when he got too close to a curve and the bike went off the road.

Labels: accident, Forsyth, Forsyth County, Motorcycle, sheriff. wreck

We can help you with your Short Sales-we will work with the bank to sell your home so you avoid foreclosure. Call (770) 331-1206 today!

Are you having trouble keeping up with your mortgage payments? Have you received a notice from your lender asking you to contact them? Don't ignore the letters from your lender, contact your lender immediately, contact a HUD-approved HousingCounseling Agency, Toll FREE (800) 569-4287, if you can't make your mortgage payment:

1. Don't ignore the problem. The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.

2. Contact your lender as soon as you realize that you have a problem. Lenders do not want your house. They have options to help borrowers through difficult financial times.

3. Open and respond to all mail from your lender. The first notices you receive will offer good information about foreclosure prevention options... Your failure to open the mail will not be an excuse in foreclosure court.

4. Know your mortgage rights. Find your loan documents and read them so you know what your lender may do if you can't make your payments. Learn about the foreclosure laws and timeframes in your state (as every state is different) by contacting the State Government Housing Office.

5. Understand foreclosure prevention options. Valuable information about foreclosure prevention (also called loss mitigation) options can be found on the internet at www.fha.gov/foreclosure/index.cfm.

6. Contact a HUD-approved housing counselor. The U.S. Department of Housing and Urban Development (HUD) funds free or very low cost housing counseling nationwide. Housing counselors can help you understand the law and your options, organizeyour finances and represent you in negotiations with your lender if you need this assistance. Find a HUD-approved housing counselor near you or call (800) 569-4287

7. Prioritize your spending. After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending. Look for optional expenses-cable TV,memberships, entertainment-that you can eliminate. Delay payments on "unsecured" debt until you have paid your mortgage.

8. Use your assets. Do you have assets-a second car, jewelry, a whole life insurance policy-that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don'tsignificantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.

9. Avoid foreclosure prevention companies. You don't need topay fees for foreclosure prevention help-use that money to pay the mortgage instead...For info and services your lender or a HUD approved housing counselor can provide it for free.

10. Don't lose your house to foreclosure recovery scams! If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney or a trusted real estate professional.

WE CAN WORK WITH YOUR LENDER AND HELP YOU!!

Labels: avoid foreclosure, Forsyth, Georgia, hud, North Fulton, short sales

Forsyth County District 4 Commissioner Patrick Bell will hold a town hall meeting regarding Bethel Park Tuesday, March 3 at 6:30 p.m.

The meeting will be held at Chestatee Elementary School, located at 6945 Keith Bridge Road, Gainesville.

The meeting will provide attendees the opportunity to provide input and comments regarding Bethel Park.

All Forsyth County residents and any interested persons are invited and encouraged to attend.

Labels: bethel park, chestatee elementary school, district 4, Forsyth, Forsyth County

The new outdoor weather sirens are in place and ready to alert citizens who are outdoors that severe weather is in the area.

In the event Forsyth County is placed under a tornado warning, the sirens will be activated. The purchase of the sirens (11 new and one replacement) was approved by the Board of Commissioners in 2007, after which the planning, installing and testing took place.

"We are very pleased to have these new sirens in service throughout the county for the safety and protection of the citizens," Fire Chief and Emergency Management Agency Director Danny Bowman. "They are intended to provide warning to those outside that they should seek shelter immediately."

The new sirens are located throughout the county at the following locations: Midway Park, Central Park, Shady Grove Campground, Charleston Park, Matt Elementary School, Sawnee Primary School, South Forsyth Middle School, Chestatee Elementary School, Fire Stations 10, 14 and 15, and the Forsyth County Public Safety Complex.

According to Bowman, the determination of the siren locations was based upon targeting the largest numbers of individuals who might be caught outdoors, at places such as ballfields and school yards, and unaware a tornado has been sighted in the area.

The sirens sounded for the first time, with the exception of testing, on Feb. 18 when stormy weather threatened Forsyth County.

"Upon the county being placed under a tornado warning, the sirens were activated," Bowman said. "The activation process occurred quickly and exactly as designed."

Monthly testing of the sirens will take place at noon on the first Wednesday of every month, weather permitting.The test tone produces the Westminster Chimes sound.

The warning tone produces a wailing sound. To hear both the test and warning tone sounds the sirens make, visit www.forsythco.com.

Labels: Forsyth, Forsyth County, Outdoor, Sirens, Weather

CUMMING - What do you do when the bank says "no" to financing? Steve Bloom of SCORE will provide insight into this and other keys to success in a workshop Tuesday, March 4 in Cumming.

The discussion focuses on the necessary qualities and personal traits required for starting a business, the steps required to achieve success and take your company to the next level and insights into why banks say no, but how you can still obtain funds or reduce the amount of money needed by thinking outside of the box.

Learn the most effective way to obtain Small Business Administration (SBA) Guaranteed Loans, including a review of the bank decision and underwriting process. How loan and venture investor decisions are made -- what crucial questions you must answer, including the importance of credit reports. It also will include business plan preparation review and discussion of what yours must contain to facilitate positive funding decisions. Learn how to tap non-traditional funding sources including: Angel Investors, Seed Capital, Venture Capital, factoring, vendor and user financing, leasing, merchant banking.

Labels: Banks, Financing, Forsyth, Forsyth County, Forsyth County Chamber

In these difficult financial times, more and more sellers are finding they need to sell their homes for less than they owe on their mortgages, known as a "short sale ." This can be a good deal for you as a buyer, as long as you're aware of the extra time and work required to make it happen.

The Mortgage Lender's "Short Sale" Factors
The seller's mortgage lender will be considering many factors in deciding whether to approve a short sale, including:

Whether the seller is deserving of a break, due to financial hardship caused by unforeseen circumstances such as layoffs, divorce or illness
Whether it would be cheaper to simply repossess the house, make any necessary repairs and sell it through a real estate agent
How many other properties the mortgage lender currently has in default
Whether there are co-signors who can be held responsible for the balance owed on the mortgage
The Short Sale Process
Your chances of success with the seller's mortgage lender improve if your communication with them is organized and complete. Your first contact with the seller's mortgage lender's "loss mitigation department" is crucial in making a good impression. You'll want to send them what's called a "Release" or "Authorization to Release Information" already signed by the seller, which allows the mortgage lender to talk with you about the seller's mortgage.

In your first talk with the mortgage lender's loss mitigator, you'll want to find out:

Whether they think a short sale might be a possibility
What information they'll need to complete the process
Loss mitigators sometimes receive bonuses based on how many defaulted loans they can clear up, so they're more likely to pay attention to your sale if you can show them you're taking care of as many details and objections as possible.

It will be necessary to be specific about the seller's financial difficulties with what's called a "hardship letter." The mortgage lender may also require paystubs, copies of medical bills, checking account statements and other appropriate evidence from the seller. The seller's mortgage lender will look at the seller's credit reports to verify the seller's financial predicament. This will all take extra time.

Broker's Price Opinion
The mortgage lender will order what's called a "broker's price opinion," which gives the mortgage lender some idea of what the property is actually worth in the current market. A broker's price opinion will be based on:


the value of comparable properties in the same neighborhood
the general condition of the neighborhood
the condition of the specific property in relation to neighboring houses
If the person who is inspecting the property needs to look at the interior of the house, you'll want to be sure someone is there to let him or her in. You may also want to provide the inspector with copies of low comparable houses in the neighborhood, and high estimates on any needed repairs. The lower the broker's price opinion, the more likely the mortgage lender will approve a short sale.

Settlement Statement Scrutiny
The seller's mortgage lender will want to have an advance look at what's called the " Settlement Statement" or "Settlement/Disbursement Estimate." The mortgage lender will be carefully reviewing:

Commissions going to real estate brokers
Where your financing is coming from (Cash? A loan?)
Payments to cover outstanding liens and taxes
Approximate date of the closing
Any cash to the seller (a definite no-no)
Any other expenses which may raise a red flag
While buying a home on a short sale can be frustrating and time consuming, your hard work can pay off in a home that's worth considerably more than you paid for it.

Labels: buying a house in a short sale, Cherokee COunty, Cobb, Forsyth, Fulton, Georgia

If you are looking to do a Short Sale or are facing Foreclosure please give us a call and we can discuss your options. We work extensively in the Foreclosure/Short Sale/REO markets and can help you understand the process.

Basically, the definition of the short sale process is when the lender of a property allows the property to be sold for less than the amount due on the mortgage loan.

The obvious benefit to the short sale process is that it allows the seller to avoid the credit report damage associated with a foreclosure. A foreclosure can stay on your credit report for up to 10 years and can take an emotional and financial toll on you and your family.

But the pitfalls of the short sale process should be considered as well. The I.R.S. may consider any debt forgiveness as taxable income, thus resulting in a tax liability. In addition, lenders can often pursue a borrower for the deficiency balance (the difference between the amount owed and the amount paid).

In some cases you may be able to avoid taxation if you can prove you are insolvent. But if insolvency is unsuccessful, and you are faced with a tax liability resulting from the deficiency amount, it may make more financial sense for you to let the lender foreclose.

The Short Sale Process

The short sale process can vary, but it will generally work as follows:

1) The lender is contacted to discuss the possibility of a short sale and to determine the lender’s process for completing the sale.

2) The seller issues a letter authorizing the release of personal information about the loan and the property to the buyer or escrow agency.

3) The lender will review a settlement statement, which will indicate the proposed selling price, remaining loan balances and itemize all expenses, including real estate commissions and other fees and expenses associated with the closing.

4) The seller will complete a "hardship letter," which will detail and explain all financial difficulties. Lenders will usually want to validate the seller’s financial situation by looking at bank statements, investment accounts, along with examining paystubs and other financial records.

5) The lender will then look to the broker to provide a price opinion by examining the condition of the house and the market value of comparable properties.

6) The lender will then want to scrutinize the purchase agreement to determine if all amounts are reasonable and the real estate commission is acceptable.

Because of the documentation required, the short sale process can be lengthy. But if done correctly, it can work well for all parties involved. The lender avoids the uncertainty of the foreclosure process, the seller avoids a foreclosure on his or her credit report (along with potential bankruptcy), and the buyer hopefully got a good deal on a property.

Considering the complexity of the short sale process, you must be educated. If you are considering a short sale, make sure that you discuss your situation with a competent lawyer and accountant. The more educated you are on the process, the easier the transaction will be, and the better the impression you will make on the lender.

Labels: Alpharetta, Cobb County, foreclosure, Forsyth, Fulton County, Georgia, Johns Creek, milton, Roswell, short sale