I know it is enticing .... however beware of buying a foreclosure "Bargain"

It’s an unfortunate result of the recession — many families haven’t been able to keep up with their

mortgage payments and have lost their homes to foreclosure. And foreclosed homes often sell for less-than-market rates, making them seem like a bargain to buyers who are used to the inflated prices of a few years ago.

But comparing a new home to a foreclosure on price alone is a mistake. You can’t put a dollar value on your peace of mind, safety, financial reserves and time — all of which could be in jeopardy if you buy a foreclosed home.


For example, a foreclosure could have legal issues. Before buying a foreclosed home you will have to do thorough research — or hire a title company or lawyer — to make sure there aren’t any additional financial or legal liabilities attached to the home. There may be liens on the property for unpaid taxes, home owners’ association dues, or the home may have been put up as collateral on other loans that weren’t paid. You could become liable for thousands of dollars of debt you weren’t aware were attached to the foreclosed home.

As soon as you take ownership of a foreclosed home, anything that breaks or any problems that arise are your responsibility. This could cost you lots of time and money that you may not have budgeted for.

With a new home, maintenance won’t be an issue for a while with the brand-new appliances and systems. And if something does go wrong in the first year, there is often a new home warranty that guarantees repair or replacement.  

Foreclosed homes also often haven’t been taken care of by former owners who knew they were going to lose the home. In some cases vandals, thieves or even the owners have damaged the home, removed appliances or torn apart walls to remove copper pipes that are valuable as scrap metal.

A foreclosed home could have been sitting vacant for months or years, and if it wasn’t properly secured, there could be significant damage from water, mold, weather or pest infestations. It could cost you thousands of dollars and a lot of time to bring a home that was allowed to deteriorate back to a livable condition.

You also don’t have to spend time or money changing someone else’s design preferences with a new home. No tearing down wood paneling, repainting walls, or replacing outdated flooring. Your preferences are included as the home is built, and they are there waiting for you the day you unpack your boxes.

Finally — and most importantly — don’t forget safety.
New homes have been constructed under a strict set of codes and standards, and have to be thoroughly inspected before the certificate of occupancy is issued and you are allowed to close the sale and move in.

With a foreclosure, you don’t know how many renovations or repairs have been made over the years, or who made them. There could be faulty wiring, weakened structures or other conditions that could be dangerous and costly to bring up to safe and modern standards.

When you are looking for a place to keep your family safe and to build a lifetime of memories, it may be well worth paying a higher upfront cost to get convenience, modern features and peace of mind — and avoid the potential pitfalls of a foreclosure that could turn your dreams of homeownership into a
nightmare.

I know its football season -- but ....Don't Ignore Home Maintenance Chores This Fall

The crisp weather of fall is upon us and football season is well underway. While the prospect of relaxing into a lazy Sunday schedule calls to many home owners weary from the routine of weekend lawn mowing, don’t sleep on essential lawn care and home maintenance tasks that will see you through the winter.

Autumn Lawn Care Basics      

• Fall is a great time for new grass seed to take root, so consider reseeding in selected areas. Reseeding also eliminates areas for weeds to grow in the spring. Fertilize your lawn one more time with a high nitrogen fertilizer to encourage root growth. Look for a lawn fertilizer labeled “winterizing.”
• It’s also a good idea to rake leaves and debris off your lawn in the fall. Put some muscle into it and rake out any areas where heavy thatch has built up.
• Cut your lawn one last time after it has stopped growing, but before the first snow. Adjust your mower setting to cut your lawn to about one inch. Lawn care experts suggest doing the final mowing with a bagger to pick up cut grass, stray leaves and other debris. It also leaves fewer places for Snowmold to develop.

Fight Snowmold

• According to gardenersnet.com, snowmold is one of the most common lawn diseases and typically it shows up in the spring. As the snow melts, it uncovers a lawn that has spent several months hidden under a cold blanket of white, with little air and no sun. In its cold, wet, and dark environment, Snowmold slowly forms, leaving blades of grass dead and brown. New grasses will sprout up behind it, but unless you vigorously rake it away, the new growth will be slow and thin — so it’s a good idea to overseed.

Consider Aerating

• It also may be wise to aerate your lawn. According to Homestore.com, aerating your lawn is a great way to reduce thatch, loosen up compacted soils and pave the way for water and nutrients to reach the roots of your grass.
• Even with meticulous care, lawns can thin out and lose color due to excessive thatch buildup, hard or compacted soils, or periods of high temperature, high humidity, or drought. According to The Lawn Institute, more than two-thirds of American lawns are growing on compacted soils. These soils slowly reduce the amount of oxygen contained in the soil, thus retarding the penetration of both water and nutrients. Aerating and overseeding is recognized by experts as the best treatment to control thatch, reduce compaction, fill-in bare spots and revitalize growth.

Here are a few tips from lawnboy.com to help you determine if you should aerate annually:


 •If your lawn is more than seven years old, and rests on mostly clay soil.

•If your lawn is moderately to heavily used (walked or played on).

•If water collects on your lawn.

While lawn care is a hot maintenance item for home owners who value “curb appeal” or just want to escape the ire of neighborhood community associations, don’t forget there are plenty of other maintenance chores. Here’s a checklist of items you should address before the winter holiday season.

Exterior Tasks

1.Maintain your gutters.
Remove all debris from your gutters so water can properly drain. This minimizes standing water and slows the freeze/thaw expansion process that occurs in cold weather. Clogged gutters can cause landscaping, lawn and shrubbery, walls, foundation, basement, crawl spaces and existing gutter system damage. Consider installing “gutter guards,” which will prevent debris from entering the gutter and direct the flow of water away from the house and into the ground.

2.Trim your trees and remove dead branches.
Inclement weather can cause weak trees or branches to break and damage your home, car, utility lines or someone walking on your property. Keep an eye out for large dead branches in trees; detached branches hanging in trees; cavities or rotten wood along trunks or major branches; mushrooms at the base of trees; cracks or splits in trunks; leaves that prematurely develop unusual color or size; and trees that were previously topped or heavily pruned. If you see any signs of hazards, call a professional tree service.

3.Maintain your steps and handrails.
Repair broken stairs and banisters to prevent falls and injury.

4.Inspect your roof.
Be proactive and prevent emergency and expensive repairs. Things to look for include damaged or loose shingles; gaps in the flashing where the roofing and siding meet vents and flues; and damaged mortar around the chimney (especially at the joints, caps and washes). If you see any signs of damage, call a professional to repair the damage.

5.Inspect your home’s exterior walls.
Look for possible weather-related damage, like cracks and loose or crumbling mortar. Wood trim and siding can suffer from deteriorating paint or become loose. Windowsills may be cracked, split or decayed.

Indoor Chores

1.Check your home’s insulation.
Your attic should be five to 10 degrees warmer than the outside air, otherwise too much heat escapes and causes frozen water to melt and refreeze which can result in a collapsed roof. Don’t neglect your basement and crawl spaces, and well insulate pipes in those spaces to protect against freezing.

2.Maintain your pipes.
Wrap your pipes with heating tape every winter and insulate unfinished rooms such as garages, if they contain exposed pipes. Check pipes for cracks and leaks and have any damage repaired immediately to prevent costlier repairs later. Keep your house warm — at least 65 degrees.

3.Check your heating systems.
Be sure to maintain your furnace, fireplace, boiler, water heater, space heater and wood-burning stove and have your heating system serviced every year. Check smoke and fire alarms and carbon monoxide detectors and change your heating and air conditioning filters regularly.

4.Know your plumbing.
Learn the location of your pipes and how to shut the water off. If your pipes freeze, the quicker you shut off the water, the better chance you have of preventing pipe bursts. Check weather stripping and caulking around windows and doors and replace or repair as needed. Caulking helps keep your house weather-tight, lowers your heating and cooling bills, and can also help keep insects and rodents out of your house. Also look for chipped or peeling paint around window frames and trim. Repair broken glass and loose or missing putty. When needed, use a modern glazing compound instead of putty for a waterproof seal.

5.Clean and vacuum dust from vents, baseboard heaters and cold-air returns.
Dust build-up in ducts is a major cause of indoor pollutants and can increase incidences of cold-weather illnesses. Check all your faucets for leaks and repair any you find. Replace washers if necessary.

By setting aside a few weekend days now, you’ll save yourself from a lot of hassle later. Once your home passes your fall inspection, you and your family can relax and enjoy the coming holidays free from worry about potential home maintenance catastrophes.

Article Courtsey if NAHB http://www.nahb.org/generic.aspx?sectionID=124&genericContentID=125909

For the Sports and Entertainment Professional - A standard Builder's Contract?

You are celebrating the contract that you just signed and your signing bonus is burning a hole in your pocket. You’ve decided that you want to build a new house, renting just isn’t the same as owning.

There is no such thing as a standard builder’s contract. This is not a player’s contract where all your agent has to do is negotiate salary amounts, bonuses and incentives. While builder’s contracts vary from state to state, they always are drafted to protect the builder and not you. You have hired an agent to get you the best deal with your team, you have financial advisors looking after your investments, you have doctors and trainers caring for your body; make sure that you have an attorney, not necessarily your agent and or manager, but an attorney who specializes in real estate negotiate your purchase contract before you sign it.

Below are some items that you need to consider in your contract. Buying a new home is one of the biggest investments that you will make in your lifetime, make sure you protect yourself as much as you can.
Financing
Although you may not think it is necessary, consult with your bank or financial institution and have them pre-qualify you for a mortgage. This will help you determine how much you can afford to spend and still live comfortably. Most contracts don’t contain a contingency for financing which means that if you can’t qualify for a mortgage when the house is ready, you lose your deposit. While you probably can’t change this language in the contract, you can help yourself by understanding what it says.
Deposit
You want to keep your deposit as small as possible, preferably less than 10% of the purchase price. The builder is also going to want a deposit on your upgrades, try to keep that number to 25% or less. Make sure that whoever is holding the deposit has to keep the deposit in an escrow account, that you are earning interest, and that the builder cannot use the funds for construction. You don’t want to be financing the builder and have him go bankrupt with your money.
Inspections
Make sure the contract allows you to periodically inspect the home with your own contractor or building professional to ensure that the builder is doing a good job and constructing a solid house. I would inspect the wiring, plumbing, air conditioning ducts, and the insulation before the contractor seals them in with the drywall. This will give you an opportunity to get the builder to make some of the repairs before the house is completed.
Once the house is completed you should have a final opportunity to inspect the house and provide the builder with a punch-list of items that need to be corrected. It is very important that you carefully inspect the house because after closing you cannot to object to any item which you could have damaged moving in to the home. The contract should give the builder no more than thirty days to complete the repairs.
Default Provisions
What if you are traded or even worse released?
Make sure the contract provides that in the event that you default that the builder is limited to taking your deposit and cannot sue you for specific performance to make you complete the purchase or sue you for damages. You want to make sure that the worst-case scenario is you lose your deposit. Try and get the builder to make your contract assignable. That way if you can find someone to buy the house you will not forfeit your deposit.
Mirror Image and the Models
Keep in mind that model homes are professionally decorated, outfitted with the finest upgrades and presented to make the rooms look bigger and better than what it may look like when your home is built. The builder has the right to reverse the image of your house once it is built, that means the garage or the bedrooms may be flipped from the model. Have the contract provide that the builder must have the plans approved by you before construction can commence. Check the contract and identity what is standard and what is extra. Try and get the builder to throw in a few upgrades at no extra charge, if you don’t try, you never know.

Finally, do some research on the builder. Make sure that he has a good reputation and is experienced. Remember, once you sign the contract you are basically married to the builder until your home is built and your punch-list has been completed. Don’t let anyone tell you that the builder doesn’t negotiate the contract. Everything is negotiable. Remember that building a new home should be one of the most rewarding things you do in life.

AHB Custom Home Builders have completed many homes for sports and entertainment figures with happy results. We provide the support and expertise required to complete your home on schedule and on budget. We recognize the need for privacy and logistics that are usually required for your transaction.

For more information contact Diane Fudge 404-886-6716 or EMAIL.

Article Coutesy of Pro Athletes Only

So -- what is the price per Sq. Ft. ? ---The 10 Most Expensive Streets in the World

The Wealth Bulletin (a Dow Jones site) has come up with a list of the 10 most expensive streets in the world. Granted, this is an inexact science, but the list includes some jaw-dropping price-per-square-foot numbers for some of the richest blocks on earth.

Topping the list is Monaco’s Avenue Princess Grace, the palm-lined street named after Grace Kelly that overlooks the water. Forget buying a house there — just getting a beer at Jimmy’s Bar on the Avenue will set you back more than $100. But living on the avenue gets you a chance to rub elbows with Russian oligarchs, Middle Eastern oil sheikhs and the occasional Monaco royal.

The two streets to make the list from the U.S. are New York City’s Fifth Avenue and Carolwood Drive in Beverly Hills.

Here is the complete list, with some sample property prices as tallied by Wealth Bulletin:

1. Avenue Princess Grace, Monaco — $17,750 per square foot.

2. Severn Road, Hong Kong — $11,200 per square foot.

To see the complete list
http://blogs.wsj.com/wealth/2008/08/05/the-10-most-expensive-streets-in-the-world/

How do you get someone else to pay your downpayment? ----to buy a home!

1. Are you tired of paying your landlord every month so that he continues to build his assets and you have nothing to show for it other than a rent bill?
2. Do you want to have a safe environment for your children to grow up in?
3. Are you looking to become part of a community where you and your family can begin to build fond memories?
4. Did you think you’d have to wait until you saved enough money to buy a home?
5. Have you always wanted to own a home?
6. Are you looking to buy a bigger home?
7. Have you maintained decent credit especially with your mortgage or rent payments?

If you answered YES to any of these questions, then you probably have what it takes to own your own home.

If you are looking to buy in the city of Atlanta, this is the place to start.

(click here)
"HOME ATLANTA MORTGAGE PROGRAM"

Homeownership (...but I have little cash and not so good credit) exploring a Lease-Purchase Agreement

The lease-purchase offers homeownership opportunities to consumers with little cash and/or poor credit, who are prepared to bet on themselves. The bet is that before the option period expires, they will qualify for the mortgage they need to exercise the purchase option. During the option period, they have the opportunity to rebuild their credit and accumulate equity while living in the house.
A lease-to-own house purchase (also "rent-to-own purchase" or "lease purchase") is a lease combined with an option to purchase the property within a specified period, usually 3 years or less, at an agreed-upon price. The borrower pays an option fee, 1% to 5% of the price, which is credited to the purchase price.
To read the complete article on Lease Purchases (Click Here)

Principles of Feng Shui

Everyone appreciates the benefits of beautiful, comfortable living environments; America's billion-dollar interior decorating industry attests to this fact. However, Feng Shui takes the approach that your surroundings affect not just your level of material comfort but also your physical and mental health, your relationships, and your worldly success.

Feng Shui (pronounced "fung shway") examines how the placement of things and objects within it affect the energy flow in your living environment, and how these objects interact with and influence your personal energy flow. Your personal energy flow affects how you think and act, which in turn affects how well you perform and succeed in your personal and professional life. Feng Shui affects you every moment of the day — whether you're aware of it or not.
As you begin to discover more about Feng Shui, remember that you need to have an open mind and should use the methods that are most comfortable for your particular circumstances.

Demystifying Feng Shui
If you've already read a bit about Feng Shui, you may be somewhat confused by the seemingly contradictory advice you've encountered. People who are unfamiliar with this method may have some misconceptions and apprehension.

Feng Shui is not
A get-rich-quick method of Asian interior design that guarantees impossible results for mystically rearranging your furniture

A superstitious or magical belief system, or a New Age fad that disconnects you from reality or from your daily life

A simple home and garden makeover

A quick fix to be tackled in one afternoon

A luxury only the rich and famous can afford

So the million-dollar question is, what is Feng Shui?

On the surface, Feng Shui is the simple interaction of humans and their environments. Taken a step further, Feng Shui enables you to influence these interacting energies to achieve specific life improvements. This influence is achieved by positioning or designing your surroundings in harmony with principles of natural energy flow. As a result, you (and your life) can achieve harmony with your surroundings. Feng Shui is practical and grounding, and it helps you right where you live and work.

Feng Shui is often referred to as the art of placement. How you place your furniture, possessions, and yourself within your surroundings largely determines your life experience at every level. Feng Shui offers a unique way of looking at yourself and your environment, and it provides a way of bringing balance, comfort, and harmony into your environment in a manner that is difficult to achieve by any other means.

Feng Shui is the study of the relationships between the environment and human life. Discovered by the Chinese, Feng Shui has been practiced for centuries to design environments that enhance conditions for success in life.

Interesting bits of historical Feng Shui confirmation are starting to emerge. For example, recent scientific research indicates that 28,000 years ago, Neanderthal cavemen (located in present-day Croatia) chose which caves to live in based on three criteria: The caves held the high ground in the area, the surrounding area was easily seen from the entrance of the cave, and the water source was easily accessible. These findings show that even our ancestors were naturally aware of the effects of placement in their environment. Interestingly enough, all three of these criteria are in harmony with the basic principles of Feng Shui, which has evolved and become more sophisticated along with humankind. Thus, Feng Shui is as relevant and beneficial to humankind today as it was 28,000 years ago.

Feng who? The meaning of the term Feng Shui
Feng Shui is a term composed of two Chinese words: feng (wind) and shui (water). Wind and water are the two natural elements that flow, move, and circulate everywhere on Earth. They are also the most basic elements required for human survival. Wind — or air — is the breath of life; without it, we would die in moments. And water is the liquid of life; without it, we would die in days. The combined qualities of wind and water determine the climate, which historically has determined our food supply and in turn affects our lifestyle, health, energy, and mood. These two fundamental and flowing elements have always profoundly yet subtly influenced human individuals and societies.

The essence of these life-giving elements is chi, or life force. Wind and water are direct carriers of chi, as their flowing quality reflects their essential nature. All living organisms are largely composed of these two elements. Thus, Feng Shui is the art of designing environments in harmony with the flow of chi through one's living space, and this flow supports and enhances one's personal chi or life force.

The big picture view of Feng Shui
Feng Shui is rooted in a holistic worldview. It sees all things and creatures as part of a natural order, a vast environment that is alive and in flux, ever moving and changing. Each thing in this natural order is equally alive and has an energetic value or component. So everything — plants, animals, people, and things — exists in a vast landscape that swirls with vital energy. The same energy that flows through the world flows through you as well. In fact, according to this view, your essence — the part of you that makes you alive, unique, and vital — is this energy. And your body is the vehicle or environment in which this essence flows.
Feng Shui divides the vast environment or landscape that is the universe into more manageable units — like human beings and their homes, property, offices, living rooms, and bedrooms. You can't control the Feng Shui of the world at large. But Feng Shui enables you to design your personal environment according to the same universal principles of energy flow by which planets spin in their orbits and galaxies wheel through space.

Article Adapted From: Feng Shui For Dummies

Photo Courtesy of www.5elements.ch/img/feng_shui_room_350x280.jpg