Just wanted to let you know that we just reduced the price at South Park Lofts in Reynoldstown. We just lowered it from $199k to $189k. South Park Lofts is medium size community with just 65 units. This particular unit is a 1 bedroom with 1 bath but it does have an extra lofted bonus area that can be used for a 2nd bedroom or office space. Plus the loft is a really good size for just $189k at approx 1100 sq.ft.! It’s a gorgeous unit and kept up very well. Check out the pics below!! Plus, it is an a tax abatement for a couple more years and the monthly HOA fees are cheap! If you are not familiar with Reynoldstown it is just 5 minutes east of downtown, a couple of miles to Little 5 Points and I hear that a Trader’s Joe will be opening up soon around the block. That is huge for an area like this!

If you would like to schedule a showing please contact me at 404-579-9307. Nesa Kleinheksel

South Park Lofts

Authentic Loft at South Park Lofts 1 bed/1bath with extra lofted bonus area $189,900 - Just Reduced!

9 Photos

I recently listed a very cool loft at Couer D’ Allene Lofts. This is one huge space(approx 1450 sq.ft) with tall ceilings, cement floors, modern kitchen with top of the line appliances and it has a PRIVATE ROOF TOP DECK! Couer D’ Allene Lofts are located in Capitol View. If you are not familiar with this area it is about 2 miles south of Downtown. It’s an excellent location for constant travelers or airline employees due to the close proximity to the airport. It is a 2 bedroom with 2 full baths. Priced at $229,900! Check it out!

Just reduced to $198,000! Motivated Seller!

Couer D' Allene

Huge 2 bedroom / 2 bath authentic loft in Capitol View! Private Rooftop Deck! $209,000

11 Photos

In the previous post we talked about how the 100% financing programs have gone bye bye, however, there is an alternative that can help you still obtain 100% financing and that is the Down Payment Assistance Programs.

Q. Can I still buy a house with 0% down payment and 0% Closing Cost.

A. The answer is definitely YES! There are still many Down Payment Assistance Programs (DPAP) out there that you can take advantage of. In-fact FHA products are getting more popular now and as of March 13 2008 the loan amounts limits is $346,250 for one family and $443,250 for two families.

Q. How the Down Payment Assistance Program Works?

A. The basic way it works is that the buyer and seller agree to use an assistance program. Then, the program contributes funds as a no-strings-attached gift to the buyer to offset the down payment. After the sale is consummated, the seller donates that amount, plus a service fee, to the assistance program company. The company providing the money earns cash on the fee it collects, and uses the proceeds to continue its mission.

Q. How do I find Down Payment Assistance Companies?

A.The major ones are Nehemiah and AmeriDream but there are others. Make sure you speak to knowledgeable loan officer before signing anything.

Q. Is it true that HUD, REO and Bank Owned Foreclosures do not work with Down Payment Assistance Companies?

A. NO! Depending on the real estate market and home inventory levels many banks may choose whether to work with them or not. According to a recent article in the New York Times, officials at HUD are skeptical of the program, and have stopped supporting the practice. They claim that this technique encourages borrowers to buy houses-and incur mortgage debts-that they can’t really afford. Meanwhile, Nehemiah and another down payment assistance company, AmeriDream, have sued in federal court in an effort to have the HUD moratorium overturned. Also it is very important how the offer will be written and presented. There are strategies that can be used to get your offer accepted.

If you have further questions on how these programs work, please feel free to contact me at nesa@theloftstop.com - Nesa Kleinheksel

Couple of new foreclosures popped up on the market this week.  The first is a 1 bed / 1bath unit at Glen Iris lofts priced at $132,000!!!  It’s a small unit, approx. 700 sq.ft. but what a deal!  Typically, these units sell around $170k.  Glen Iris is a nice building located in Poncey Highland.  HOA fees are cheap at $155 per month which includes cooking gas, hi-speed internet, garbage and water.  The loft does have exposed brick, cement floors and update kitchen. Hard to beat!

The other one that is worth mentioning is a 1 bed/ 1bath at Highland School Lofts located close to Virginia Highland. Superb location and cool building.  This one is priced at $211,900.  It is also a top floor 2 story unit.  Highland School is also in a property tax abatement!

If you would like more information please contact me a nesa@theloftstop.com - Nesa Kleinheksel