Redistricting Places Several Bowen Family Homes Communities in New School Districts for Fall 2009

When looking for a new home in Atlanta, an important aspect of the home buying process is school districts. Whether the purchaser has children or not, a community’s school district says a lot about the neighborhood’s surrounding area. Bowen Family Homes’ communities are located in the best school districts in Georgia and as a result of redistricting and the addition of new schools, children at a few of Bowen Family Homes’ Atlanta communities will attend new school districts come fall 2009.

Located in Gwinnett County, Kensington Creek Manor and Willoughby Cove offer home buyers affordable single-family homes. With spacious home designs to choose from, homes at these communities provide the ideal space for everyday life and entertaining. This fall children at both communities will attend the brand new Twin Rivers Middle and Mountain View High schools. Elementary-age children at Kensington Creek Manor will attend Dyer Elementary while children at Willoughby Cove will attend Freeman’s Mill Elementary.

Located in Forsyth County, Stonehaven Pointe and Stonehaven Terrace offer beautiful townhomes and single-family homes. In addition to spacious homes, the communities’ amenity package gives children the opportunity to fully enjoy their summer break with six lighted tennis courts, a Junior Olympic-size pool, multi-purpose athletic field, playground, clubhouse and more. When school starts again, children at Stonehaven Pointe and Stonehaven Terrace will attend a new school district which includes the new Whitlow Elementary school and existing Otwell Middle and Central Forsyth High schools.

Also located in Gwinnett County, McGinnis Reserve is a beautiful single-family home community that is ideal for Atlanta new home buyers. Residents of all ages enjoy an active lifestyle with an outdoor amenity package that includes a 20-acre lake, walking trails, pool and tennis courts as well as easy access to the Suwanee Greenway Trail System. Come August children at McGinnis Reserve will attend Level Creek Elementary, the new North Gwinnett Middle and North Gwinnett High schools.

Avington Glen features ranch-style and two-story single-family homes perfect for the Atlanta family looking to live in sought-after Gwinnett County. The great location along with an amazing amenity package makes Avington Glen the perfect community for those looking to live an active lifestyle. Next school year children at Avington Glen will attend brand new Lovin Elementary and Archer High schools as well as McConnell Middle.

For more information on any of these communities as well as the rest of Bowen Family Homes’ Atlanta communities, visit www.bowenfamilyhomes.com.

Since 1969 the Bowen name has stood for excellence in new home construction and community development. Recognized as the 39th largest privately owned builder in the country by Builder Magazine for 2008, Bowen Family Homes is a dynamic homebuilder with operations in Georgia, Florida and Texas. The Atlanta Business Chronicle ranked Bowen Family Homes 5th among metro Atlanta builders in 2007 and 40th among Atlanta’s Top 100 Private Companies for 2007. Additionally, Bowen Family Homes was named the Georgia Family Business of the Year for medium sized companies by Georgia Trend and the Cox Family Enterprise Center at Kennesaw State University in 2006. Bowen Family Homes was ranked 66th on the 2008 Professional Builder Housing Giants list. These successes have been achieved by simply offering the best new home value in all price ranges. Earlier this year Bowen Family Homes launched their social media marketing plan with a new company blog, www.bowenfamilyhomesblog.com and presence on several social media outlets such as Twitter, Facebook and YouTube. For more information about Bowen Family Homes, please call their Atlanta region headquarters at 678-325-4554 or 1-877- MY BOWEN or visit online at www.bowenfamilyhomes.com.

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Eight Tips to Help You Qualify for a Mortgage

RISMEDIA - Three years ago, homeowners were earning thousands of dollars just from selling their house. Home buyers were qualifying for mortgages that normally wouldn’t quality for a mortgage. It was easy to get a mortgage, because homes were flying off the market before they were listed for sale. Lenders saw dollar signs, so they found a way to help buyers get a mortgage while throwing lending principles out of the window. It’s a different story in today’s housing market. The economy has slowed down, and the free market is correcting the housing sector’s inflated success. Qualifying for a mortgage is harder than it was three years ago, but it’s not impossible.

1. Inspect All Three of Your Credit Reports. Pull your credit reports from Equifax, Experian, and Transunion. Make sure that all of the information is accurate. If you find an account that doesn’t belong to you, submit the necessary form to all three credit reporting agencies to dispute the account.

2. Improve Your FICO Score. Unfortunately, mortgage lenders heavily weight your lending eligibility based on a score that doesn’t accurately measure your financial stability. The FICO score only measures your ability to repay a loan. Improve your score by paying down debt, paying all of your credit accounts on time, and keeping open accounts with a $0 balance.

3. Save for a Down Payment. Buying a house with a 5% to 10% down payment shows you are serious about becoming a homeowner. If you’re looking for a Federal Housing Administration loan, you’ll need at least a 3% down payment. Mortgage lenders are more skeptical about doing 100% financing, because many of these loans are the ones going into default.

4. Increase Your Household Income. Mortgage lenders want you bringing in enough money to realistically pay for the loan. Two income families qualify easier than one income families. Pick up a second job, become a two income family, or start a home-based business.

5. Choose A Realistic Budget. The rule of thumb is a mortgage payment that is 25% of your monthly household income. Choose a price range that fits this criteria. If you make $4,000 a month, then choose a price range that gives you a mortgage payment of $1,250. The term “house poor” comes from people that spend the majority of their income on a mortgage payment. These are the same people that end up filing for foreclosure. Mortgage lenders will tell you that you can afford more than 25% of your household income, but they are the same people that helped the housing market crash.

6. Defer Your Student Loan Repayment. You get six months to defer your student loans before you need to start paying them back. If your student loans are deferred, the mortgage lender doesn’t need to include the debt in your debt ratio.

7. Stick with One Employer. Mortgage lenders like stability. Stick with the same employer for more than two years.

8. Negotiate a Price Lower Than the Appraised Value. The mortgage company will send their own appraiser out to assess the house. If you negotiated a purchase price that is lower than their appraised value, you can consider it instant equity in the eyes of the mortgage lender. You can check out Zillow.com to see the approximate value of the house.

Now is the time to buy, but lenders will no longer hand out loans to anyone. Don’t let this discourage you. Take this time as an opportunity to fine tune your personal finances. Don’t believe the fallacy that you need perfect credit to qualify for a loan. Mortgage companies are closing the doors every day. Countrywide was bought by Bank of America, and IndyMac Bank had their assets seized by the federal government last week. Lenders are looking for responsible borrowers. Your income and your credit history are the most important factors to determine if you qualify for a loan. Once you’re qualified for a loan, you can finally start the fun part of buying a house.

Coggin's Farm In Coweta County Has Success In Initial Sales Efforts

The first sales have already been recorded in Coggin’s Farm, Jeff Lindsey Communities’ new 90-home community on George Coggins Road in Coweta County.

Located between Newnan and Peachtree City just one mile from I-85, Coggin’s Farm is offering homes priced from $227,000 to $284,000.

At present, four homes are are completed, five new home sale contracts have been signed, and three homesite reservations have been made. Homesites, which include some lake lots, range from 1.6 acres up to almost three acres.

The homes in the community will contain from 2,700 to over 4,085 sq. ft. of space and include granite countertops, hardwoods in the foyer, dining room, kitchen and breakfast area, stainless steel appliances, and many other special features such as a jetted tub in the master bath and beautiful 42-in. raised panel glazed cabinets in the kitchen, all standard.

The exteriors will feature Craftsman and European architecture and will have side entry garages. Exterior materials include durable fiber cement siding, which utilized with brick, stone, board and batten, fiber cement shingles, cedar gable brackets and cedar
lookouts, all combining to showcase the quality, beauty and value of these homes.

Jeff Lindsey Communities is currently making available eight different home plans, some of which are new to the company, in Coggin’s Farm. These include three two-story designs, three ranch plans, and two masters on the main.

The community is convenient to grocery stores, restaurants and banking as close as three miles away.

More information about Coggin’s Farm, a quiet community located in the Northgate school district, can be obtained by calling Jim Chancellor at 770-253-3406 or by visiting
www.JeffLindseyCommunities.com. Coggin's Farm is being marketed exclusively by Steve Redding and Associates at Re/Max Advantage (770-898-1700).

MontClair Community

With homes averaging from 3,000 to 3,700 sq. ft., the spacious homes in MontClair built by Castle Homes offers traditional styling in a quiet wooded setting. The three- and four-side brick homes feature two- and three-car garages, lawn irrigation systems and large lots that start at one-half acre and go to more than two acres.

The builder is offering incentives of more than 10 percent on selected homes in the community, said Ken Harper, listing agent with Coldwell Banker American Land Mart, the exclusive broker for the community. In these difficult economic times, Castle Homes is committed to delivering the best quality and value for the price in Rockdale County. You've just got to visit the neighborhood and our furnished model to see all the extras that are standard in these elegant and affordable homes.

The Cedar plan decorated model showcases the style of the community with warm earth tones and a traditional elegance. It has five bedrooms and four-and-a-half baths. With an oversized front porch, the two-story home also has a three-car side-entry garage. The gourmet kitchen with stainless appliances opens into the two-story family room. Dual staircases lead to the spacious second-floor hallway.

Buyers can choose from 13 floor plans, from ranch and two-story designs. Six of the plans offer master suites on the main floor, and most of the homes also have spacious basements.

Hardwood floors, elaborate trim packages, designer features offered as standards and the ability to customize plans to suite your lifestyle make these homes appealing. There are homes to satisfy every lifestyle need. Some plans offer dual master suites.

The style of the cul-de-sac community is traditional with wooded lots and quiet streets, Harper said. The location is convenient to I-285 and just minutes outside of DeKalb County. It's also less than five minutes from Conyers.

The sales office is open Tuesday through Saturday from noon to 7 p.m. and Sunday 2 to 7 p.m.
To visit MontClair, take I-20 east to exit 82/Ga. 138 and turn right headed south. After one mile, follow Ga. 138 to the right for 6.3 miles. Turn left onto Tucker Mill Road and MontClair is one mile ahead on the right.

MontClair is being marketed by Coldwell Banker American Land Mart Inc. Ken Harper is the listing agent and can be reached at 770-845-8846. For more information, visit www.castlehomesga.com.

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Only a Few Homes Remain at McCar Homes’ Carrington in Cobb County

Only a Few Homes Remain at McCar Homes’ Carrington in Cobb County
Just eight homes remain along the historic Silver Comet Trail

– McCar Homes’ Carrington community is 70 percent full and only eight homes remain along the historic Silver Comet Trail. Carrington is a luxury townhome community located in sought-after Cobb County and offers homeowners the opportunity to live in a historic setting with all the modern luxuries of today.

Townhomes at Carrington are priced from the $140,000s to $160,000s, and are available in three bedroom plans with two and a half bathrooms at approximately 1,588 square feet. Homes along the Silver Comet Trail feature great views of trees and portions of the trails. The interiors include state-of-the-art features such as upgraded appliance packages, designer lighting fixtures, a variety of flooring including hardwoods and countertop and cabinet choices.

Living within walking distance of one of the state’s most popular trails allows residents to exercise the natural beauty of the Silver Comet’s hike and bike trails. Carrington’s homeowners will also enjoy the community swimming pool and cabana modeled after the original Silver Comet Trail train station. Residents will enjoy close proximity to some of the best shopping areas in Cobb County including The Avenues at West Cobb and Arbor Place Mall.

Children at Carrington attend Powder Springs Elementary, Copper Middle and McEachern High schools.

To visit Carrington, take I-75 North to Barrett Parkway and turn left. Proceed 12 miles and turn right on Powder Springs Road. Travel to C.H. James Parkway and turn left. Continue to Florence Road and turn left. Community will be on the right. For more information on Carrington, call (770) 439-7038.

Dan and Elaine McSwain founded McCar Homes more than 50 years ago with a mission to build homes for buyers who desire the best homes in sought-after locations. Today, the company has grown from a hometown builder into one of the nation’s top builders. McCar Homes has earned numerous national and regional awards. With an experienced team of professionals, McCar Homes sets a new standard for exceptional quality, innovative home design, outstanding amenities and customer satisfaction building new home communities across the Southeastern United States including Georgia, North Carolina, South Carolina and Florida. For more information, visit www.mccarhomes.com.

The Housing Market

We all know that the credit crunch is for real and is creating turmoil in the housing industry. It has unsettled the confidence of investors on Wall Street and consumers on Main Street. Market analysts and the media have piled on, sounding a death knell for the housing industry: We have heard the claims that there is no mortgage money, foreclosure rates are skyrocketing nationwide and home values are in a free-fall with no bottom in sight. But is it really true?

Conforming Markets Operating Normally

First, regarding the credit crunch, there is no question that a major shakeout is occurring in the subprime market, creating turbulence in the broader financial markets.

But what the media is not reporting is that there is no credit crunch for qualified buyers taking out conventional loans for under $417,000. And this is where the bulk of all home loans are made. The reason why this market continues to operate normally is because loans up to this amount can be purchased by Fannie Mae and Freddie Mac, having the implicit guarantee of the federal government.

While underwriting standards may have tightened for all loans, credit-worthy home buyers should have no problems finding conventional, conforming mortgages at very attractive rates. In fact, today’s mortgage rates remain near historic lows, in the range of 6 percent for fixed-rate, 30-year loans.

Nonetheless, getting the word out that mortgage money is available at very attractive rates for credit-worthy borrowers is vital to boosting consumer confidence and traffic of prospective customers.

Foreclosures are High but Limited in Scope

There is no question this is a serious problem. But again, a close examination of the facts shows that for a vast majority of the country, there is no foreclosure crisis.

While foreclosure rates have increased this year, almost all American home owners are making their mortgage payments on time.

Most foreclosures are concentrated in the once super-heated markets in four states: California, Florida, Arizona and Nevada. The Midwest is also experiencing problems as a result of continuing job losses in the manufacturing sector.

Breaking down prime and subprime loans, nearly 97 percent of prime borrowers – the bulk of the mortgage market – are up-to-date on their payments. The problem is in the subprime market, where about 17 percent of borrowers are behind on their mortgage payments.

But it’s also important to remember that 37 percent of all single-family homes are owned debt-free – without any mortgage – and that home owners nationwide have built up $11 trillion in equity that provides a good cushion against any decline in values.

It’s also important to note that a high percentage of foreclosed loans to date – particularly in California, Arizona, Nevada and Florida – have been among speculators or investors who were looking for quick profits and just walked away from their investments when the housing market cooled.

The Myth of Declining Home Values

Lets explore some of the facts surrounding the claim that home values around the country are in a free-fall.

Except for about 30 or so high-flying metro markets where home values doubled in four or five years, the correction in the home values has been relatively modest. Different economic and job-market conditions directly affect demand for new and existing homes in every market.

Treasury Secretary Paulson made the same point in a March 26 address to the U.S. Chamber of Commerce: “We do not have a national housing market,” he said, adding that housing markets are unique and those experiencing the biggest price corrections are in areas that had the greatest overbuilding.

Part of this problem is due to an influx of speculators in some large markets who helped drive prices up to unsustainable levels.

For example, nearly all the markets that posted the largest average decline in home prices during the past year – Las Vegas, Los Angeles, Miami, Phoenix, San Diego and Tampa – have appreciated in value by more than 77 percent since January 2000, according to the latest S&P/Case-Shiller home price statistics. Two of these markets – Miami and Los Angeles – were up by more than 100 percent over this period.

It makes sense that the most super-heated housing markets in California, Nevada, Arizona and Florida are now experiencing the most serious market corrections. For the rest of the country, however, the price adjustments have been relatively modest.

The fact is, now is an exceptionally good time to shop for a new home. Buyers with good credit, a job and steady income will find there is plenty of mortgage credit to be had at good rates. With home builders appropriately cutting back on new supply to meet current market conditions, they are also offering great incentives to boost sales.

This is a boon to home buyers. But six months or a year from now, as the supply-demand equation rebalances, builders may stop offering these incentives.

The Home Builders Association of Midwest Georgia serves over 700 businesses in the building industry in Fayette, Coweta, Spalding, Meriwether, Heard, Pike, Upson, Lamar, Butts and Jasper Counties. For information about the association, call Executive Officer Sandy Boda at 770-716-7109.

By Sandy Boda

Coldwell Banker Bullard Welcomes Tracy Willis

Tracy M. Willis is a new sales associate with the Peachtree City/Fayette County office of Coldwell Banker Bullard Realty.

Willis, who has been in real estate for two years, joined the Bullard organization as a result of its recent merger with Coldwell Banker Fulton Realty Associates. Previously from New Jersey, she has a degree in nursing from Bloomfield College in Bloomfield, N. J., and she worked in nursing prior to entering real estate.

She is married to Steve Willis, and they have three children, Cory, 20, Ryan, 19, and Justin, 9. The two older boys are graduates of Starr’s Mill High School and now attend Jacksonville State University and Auburn University, and the youngest attends Kedron Elementary School.

Willis is a member of the Fayette County Board of Realty, Cultural Diversity, and Alpha Kappa Alpha sorority.