Featured Home- Glenwood Park $699,000

MAJOR PRICE REDUCTION! Gorgeous Earthcraft home in Glenwood Park- 3 lvls of lux living w/gourmet kit w/ bfst area open to fam rm w/ fp, sep DR, fab outdoor patio w/ dbl sided fp to screened porch, stunning master w/ fp, sep legal apt/in-law suite, finished terrace lvl-pool membership included!

Possible SHORT SALE!

To view this custom home, please contact me (404) 285-9738 or via email at jon.chapman@nrtdevelopmentadvisors.com

The Stacks Lofts

Condo Trends: From Luxury Condo to Homeless Shelter

by M. Anthony Carr
In a move to ward off foreclosure, a luxury condo developer has turned the units intended to sell for more than a quarter million dollars into a homeless shelter with the help of a New York-based nonprofit.

The Brooklyn units come complete with granite counter, terraces, marble bathrooms and walk-in closets, according to the New York Daily News, and the city is paying out hundreds of thousands of dollars per month ($90 per unit per night) to house homeless families in the city.
"City officials said the condos - which couldn't attract buyers in the fizzled housing market - are part of an effort to help an "unprecedented" number of homeless families who have ended up on the street because of the tough economy," according to the report.
It's the first time luxury condo has gone homeless shelter, according to Steven Spinola, president of the Real Estate Board of New York. Avi Shriki, the developer of the project, says leasing the building for the next 10 years to the Bushwick Economic Development Group, a non-profit homeless shelter group, was the best Plan B he could find.
He can pay the mortgage with the deal and still keep the building, instead of going into foreclosure.

FOR SALE- Foreclosure $299,000

Short Sale, fantastic value. Beautifully renovated 1908, 'four square' pocket doors, 6 fireplaces, hardwood floors throughout, extra large rooms. Great master and ensuite. Exterior just needs paint.

3 bedroom/3 bath, $299,000

For a viewing of this home, please contact me. (404) 285-9738 or via email jon.chapman@nrtdevelopmentadvisors.com

PRICE REDUCTION

Price reduced on A&P Loft one bedroom/one bath loft. FMLS #3881951 $149,900

Forbes: Atlanta among best places to buy a home

Atlanta is the 13th-best American city to buy a house, Forbes magazine said in a new ranking of U.S. metro areas.Forbes also determined average price per square foot of housing space decreased 1.1 percent in Atlanta between February and March of this year, and that transactions declined 7.5 percent between March 2008 and March 2009.“While the majority of the nation’s housing markets are still working toward a bottom, some cities are boasting fundamentals that make them good places to buy a home now,” Forbes reported this week.The Forbes rankings seem geared more toward each market’s current and future potential as a place to buy a home, since some of the cities at or near the top of the list are among those hardest hit by the recession.The report ranked the 25 largest U.S. metro areas on the basis of change in price per square foot, frequency of real-estate transactions, and how evenly distributed home-sales activity is in a metro area.Denver is the best city to buy a home. Phoenix was ranked No. 2, followed by Boston, San Diego and Los Angeles.Forbes listed Las Vegas, Cleveland, Seattle and Detroit at the bottom of the 25 cities.“There, distressed sales have kept home values down and buyers away,” Forbes said.Forbes drew its data from March 2009 RPX Monthly Housing Market Report, distributed by Radar Logic Incorporated, a New York-based derivatives firm.Source: Forbes & Atlanta Business Chronicle

Timing The Market

Pending Home Sales Up Fourth Straight Month

The Basics: 2009 First-Time Home Buyer Tax Credit

Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.
Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.

Who Qualifies?
First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible?
The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Will the Credit Be?
The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:
The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.
The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.