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Ask me about it and if you are looking at buying in Oconee or Athens please contact me to set up a home tour!

http://www.hankbailey.prudentialgeorgia.com

You should have: 1) social security numbers handy (preferably your social security card if you can find it) for both you and your spouse if both of you are applying for the mortgage; 2) copies of checking and savings account statements for the most recent six (6) months; 3) statements of any other assets or income such as from another business, rental income, investment accounts and retirement plans; 4) the most recent two pay stubs detailing your earnings or if self employed, your corporate as well as personal tax returns along with all K-1′s ; 5)  copies of your last 2 years’ income tax statements (whether self employed or not); and 6) the name and contact information of someone at your work who can verify employment.

http://www.hankbailey.prudentialgeorgia.com

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I’d have to say that 3 particular words separate your work from other realtors we’ve worked with 1. Speed 2. Competencies 3. Results. You were always quick to get back with us. You picked up quickly on what we were looking for and were well aware of the Oconee market.

Thanks for all your hard work and follow up. Your resourcefulness in getting answers from everyone involved in the process(from my lenders to the relo folks to the home inspector, etc) helped Pinal and I feel more confident and secure about our decisions and provided more clarity to each step of the buying process. Thank you for all your contractor referrals as well!

You’ve lived up to your closing quotes on all emails: This day and time “Being Just Good Enough Never Is!” You were truly Great! . Thanks again for everything!

Sanjay and Pinal Desai

Regarding the purchase of their new home off Hammond Creek Trail in Old Waverly, Bogart, GA

http://www.hankbailey.prudentialgeorgia.com

Most borrowers get loans for 30 years, although 15 year loans are available. During the lifetime of the loan or mortgage you will pay far more in interest than you will in principal. Based on current rates in the neighborhood of 4 percent, that interest might be double the purchase price of the house over 30 years! In the first few years of a 30 year amortized loan, you will be paying mostly interest in your monthly payments.  This means that you will be getting the most tax deductible benefits in the early years as well so don’t fret! In the last 10-15 years of a 30 year loan you’ll be paying mostly principal.

This is the most comprehensive mortgage calculator I have come across online!

http://www.hankbailey.prudentialgeorgia.com

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In addition, you might have homeowner association or condo association dues. You’ll definitely have property taxes, and you also may have city or county taxes. Taxes normally are rolled into your mortgage payment. Again, your broker will be able to help you anticipate these costs and they should be clearly stated in MLS or county records.

http://www.hankbailey.prudentialgeorgia.com

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Go to www.russtannerloans.com for more information on the process!

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Rest assured, you are not alone. According to a National Association of Realtors® Profile of Home Buyers and Sellers, first-time homebuyers recently accounted for slightly more than 50 percent of the homes purchased. The home buying process can be overwhelming, but if you go into it prepared, your first purchase can be a good experience. Here are some things to consider before making the plunge.

• Getting a mortgage
  Fear of being rejected for a home loan is one of the main concerns for first-time homebuyers. To lessen the stress, you may want to get pre-approved for a loan before looking at prospective homes. This will not only help you feel more confident, it will also give you an advantage when there are multiple offers for a specific home. The fact that your loan has already been approved is of great value to the seller: because it shortens the purchase process and there is less of a chance that the buyer will back out of the sale.
  To begin your pre-approval process now, click here.

• Mortgage Payments
  The costs involved in the purchase of a home can be overwhelming to first-time buyers. However, with the help of a real estate professional, you can calculate out how much you will be able to pay each month in mortgage payments, and from there, what prospective homes offer a feasible payment plan.

• Down-Payment
  The down-payment amount varies depending on the value of the home you choose and your mortgage lender.  In some cases, first-time home buyers can purchase a home with no money down, but most first-time home buyers I work with get FHA financing.  This allows for either a family gift or personal funds of 3.5 percent down.  Also, and although it varies from state to state, some states offer government-funded programs for first-time buyers that help people buy a home with no down-payment.

• Closing Costs
  First-time buyers often forget to consider the closing costs when making an offer on a home. Paying closing fees of 3-5 percent of the home sale amount is not unusual. Add that to the down-payment and you’ll have quite a sum to raise before the final papers can be signed. However, a smart first-time buyer takes this into account before making an offer, and with some professional help, the costs can be estimated in advance.  A good agent can help you negotiate this with the seller to have the seller pay these costs for you so you don’t have to pay them out of pocket!

• Making offers
  Don’t feel pressured into making an offer on the first home you see. This is a common mistake of many first-time homebuyers. Make sure you view different homes to get a feel for the marketplace. When you do decide on a home to make a bid on, work with your real estate professional to get all of your questions answered first before making an offer. But don’t wait too long to make an offer. The longer you wait, the greater the chance other prospective buyers may place offers, making it harder for you to negotiate a good deal.
• Condition of the Home
  Buying a “problem” home is another fear of first-timers. A home that needs major repairs can become a costly venture. And, unless the asking price is adjusted to reflect the hidden repairs needed, chances are the home is not worth as much as the seller is asking for it. To avoid unfortunate surprises, your real estate professional will advise you to hire a home inspector before making a serious offer. That way, you know what you are getting into.

Above all, remember that there are no silly questions. Make sure you understand and are comfortable with every aspect of the transaction. Your Buyer’s Agent can be an invaluable asset in helping you make educated decisions so that your first-home purchase is a rewarding experience. What’s even better, your Buyer’s Agent costs you nothing as he/she is being paid for their time through commissions paid by the seller!

http://www.hankbailey.prudentialgeorgia.com

The 10 most affordable markets; (average list prices)

1. Ball State University, Muncie, Ind., $105,115
2. University of Buffalo (SUNY Buffalo), Buffalo, N.Y., $117,223
3. University of Memphis, Memphis, Tenn., $135,090
4. University of South Carolina, Columbia, S.C., $137,707
5. University of Akron, Akron, Ohio, $139,711
6. Eastern Michigan University, Ypsilanti, Mich., $141,964
7. Ohio University, Athens, Ohio, $141,964
8. Kent State University, Kent, Ohio, $153,662
9. University of Toledo, Toledo, Ohio, $155,286
10. Louisiana Tech University, Ruston, La., $157, 110

Somehow this report left the University of Georgia and Athens, GA out of the picture.  For purposes of accuracy I looked into Athens MLS for the NAR Residential Sold Report for the past twelve months through today.  What it shows is that the average sale price is $149,650 on homes sold in Athens, GA.   The average list price is $200,000.  This bumped us right out of the top 10.

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• Appliances (Laundry and Kitchen)
• Electronics
• Vacuum Cleaners
• Lawn and Garden

In addition, you can choose other great products for your home such as:

• Water Treatment Systems
• Craftsman® Garage Storage
• Sealy® and Sears-O-Pedic® Mattresses
• NordicTrack® Exercise Equipment
• Craftsman® Lawn Tractors
• TVs
• Kenmore® Outdoor Grills

This unique program features:

• A private selection consultation with a professionally trained specialist
• Special affiliate program pricing backed by our Price Matching Plus policy
• Peace-of-mind protection agreements to extend the manufacturer’s warranty

Sears Commercial Offers you the ultimate in choice of the top eight (8) selling brands, and has the largest selection of appliances, home electronics, mattresses, and more at special pricing (25-50% off Retail)!  Plus, as a client of mine you will receive Concierge services from a Sears Appliance Select Plus consultant to help make just the right decisions for your home. Sears Commercial will also coordinate with you to ensure that your selections fit your new home and deliver on your schedule! From Kenmore, LG, Jenn-Air, KitchenAid, GE, Sony and more!  Save 25%-50% off Retail as a “Thank You” to my clients!
http://www.hankbailey.prudentialgeorgia.com/pgr-home-benefits-plus.aspx

Contact Russ Tanner at www.russtannerloans.com for more information on the pre-approval process.

http://www.hankbailey.prudentialgeorgia.com

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He had my best interests in mind 24/7. He went above and beyond the duties and responsibilities written in his job description. It was a blessing to work with someone who was so dedicated to helping me find the perfect home. Even after closing on my townhome, Hank was there to help and provide answers to my questions. There are many qualities Hank exudes, which in turn make it so effortless to work with him! Hank is prompt, dependable, and most importantly he is hard working. His quickness to respond to my e-mails, calls, and questions was remarkable. I would recommend Hank to anyone who is looking to purchase a home in the Athens area or wherever!

Thanks again for all you’ve done throughout this process for me! It was such a pleasure working with you and I am greatly appreciative for all your assitance during my home buying process as well as after closing. You’re top notch at what you do! Thanks, Hank!”

Katie Webb, teacher in the Jackson County School System of GA on her first time home purchase in Whitehall Village, Athens, GA

http://www.hankbailey.prudentialgeorgia.com

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When you make an offer on a home, your real estate broker will put your earnest money into an escrow account. If the offer is accepted, your earnest money will be applied to the down payment or closing costs. If your offer is not accepted, your money will be returned to you. The amount of your earnest money varies, but your deposit generally will range from $500-$2,000.

The more money you can put into your down payment, the lower your mortgage payments will be. Some types of loans require 10-20% of the purchase price. That’s why many first-time homebuyers turn to HUD’s FHA loan because they only require only 3.5% down. If you live in a USDA Rural Development area (some of NE Georgia east of Atlanta falls into this category), you might qualify for a 100% loan!

Closing costs will typically pay average 3-4% of the price of your home. These costs cover various fees your lender charges and other processing expenses. When you apply for your loan, your lender will give you an estimate of the closing costs, so you won’t be caught by surprise.  As a Buyer’s agent I routinely have these costs factored into the sales price and let the seller pay them so that the Buyer I represent doesn’t have to bring these funds to closing.  Essentially as long as the house will appraise with these costs financed into the purchase, the seller can pay these at closing.

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The night before, December 3rd, is the Watkinsville Christmas Tree Lighting!  This is an annual ceremony that kicks the season off in Watkinsville each year.  The festivities start at 7:00 p.m., but if you get there early you can participate with Christmas carols, drinking hot chocolate, and eating candy canes!  For the kids, note that Santa’s mailbox and the town Christmas Tree are set up on the lawn of the Eagle Tavern.  Santa is sure to be there as well!

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