Deal! 3 bed 2bath Fleetwood manufactured home on 2 acres in Brunswick.   Private gravel drive off Old Jesup Road leads up to this quaint country setting.   Also includes 25X40 est.  concrete slab ready for garage or outbuilding to be constructed.

Adorable Ranch home in Belle Point. Split bedroom plan, ceramic tile in main living area and bathrooms, beautiful wood laminate in guest bedrooms, carpet in master. Very nice condition just bring your furniture. Nice yard with privacy fencing, established trees and landscape, utility shed, AC out building perfect for workshop, art studio, home office, or playroom for kids…

Short sale so all offer must have pre-approval letter from lender. All offers subjects to seller’s lenders approval.

 
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Home sits on gorgeous wooded marsh front lot with great trees. Home is a solid well built home that needs updating. Living room, dining room, family room with real brick fire place and built ins, breakfast nook, huge bonus room on second level. Maintenance free exterior. Huge patio and green house. Sold as is. Hurry this one won’t last long at this price.

Video of 145 Belle Point Parkway

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As part of the home buying process and conducting your due diligence it is in your best interest to have a property inspection done by a licensed certified home inspector.   This will cost approximately $250 to $400 and will have to be paid for at time it is rendered.  This is not considered part of the closing costs.   Although it as an added expense it can save you from making a very costly mistake.

The home inspector will test and check the various critical systems of the home to see if they are functioning properly.  A home inspection can detect safety issues like radon, carbon monoxide, and mold, which all homes should be tested for.   Ask the inspector what he will test and check. You may have to hire a mold inspector or other specialist for such specialty testing.  Any good inspector will check the plumbing, electrical, AC, roof, appliances, fireplace, etc… The home inspector should take pictures and make notes on each of the items of concern.   If he finds something he/she may recommend seeking a further opinion from an expert in that field ; such as, if there are electrical issues than you may need to hire a electrician to make an assessment.  Most professional contractors will charge you a nominal fee for onsite assessment.   The home inspection does not include inspecting or testing the septic system or well.  If you are buying a home that has either of these then you should get them checked by certified contractor who specializes in them.

During the due diligence period if you find something that concerns you then you may terminate the offer, ask the seller to make the needed repairs, or reduce the price.   When it comes to a foreclosure the seller, a bank, will usually not be willing to make any repairs as they are selling it to you as is.  You can expect that a foreclosure home will need some repairs… but you don’t want any major surprises…

When you get to this stage of the buying process your agent can recommend a qualified home inspector.    Lastly you should ask the seller in your offer to provide a one year home warranty to cover most of the major systems in the event of an unplanned failure.   If they won’t pay for one then you can pay for one at the time of purchase for approximately $400.00.

Property Details

Property Images

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Property Location

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If you are interested in purchasing a bank owned property/REO they will require that you provide proof of funds if making a cash offer or a pre-approval letter if obtaining a mortgage.  You don’t want to be scrambling to get approved when the perfect foreclosure home deal comes along.  A days delay can cost you the deal.

Zillow reported interest rates this week on 30 year mortgages dropped to 4.33%, the lowest in 25 weeks. I don’t think you can count on rates going lower nor staying this low for long.  Keep in mind that you can buy $10k more house for the same payment if rates drop only .325 of a point and the reverse is true if they increase.

I recommend you use a local lender so that you can meet with them in person.   Local lenders know market and the nuances of the market as well as the attorneys, inspectors, and appraisers.  They can navigate through any issues or challenges that may come up along the way to getting closed.   If you would like a recommended list of some excellent local lenders in the Brunswick-St Simons area then give me a call, 912.222.4403, or email me, tom@avalonpropertiesgroup.com, and I will send it to you along with some tips to get the best rate and closing costs.

I selected them based on value, location, and features/amenities. “

111 Burgess Circle, Brunswick:  Foreclosure! 5 bedrooms 4 baths .53 acres 2500 sf  $154,900 Beautiful inside and out! Spacious home in quiet and serene Avoca Villa. 4 bedrooms and 3 full baths in the main home, plus an attached 1 BR/1 BA mother in law suite. Some of the interior features of this home include hardwood floors in the living and dining rooms, attractive tile backsplash in the kitchen, a separate den and a large enclosed porch with tiled floor. Outside, enjoy your in-ground pool while overlooking the large community lake. Detached two-car garage as well as an attached 2-car carport. Foreclosure: Fannie Mae Home Path property.
4140 Riverside Drive, Brunswick:  HUGE PRICE REDUCTION!!! 3 bedrooms 2.5 baths  1763 sf   $199,900 MARSH FRONT plus BOAT DOCK Riverside subdivision is known for its ideal central location and deep water access. Better than a foreclosure but priced to sell fast… Huge price reduction. It features 3 bedrooms 2 full baths, breakfast bar, breakfast nook, dining room, spacious living room with vaulted ceiling and lots of windows for natural lighting, over size master bedroom with Tray Ceiling and French doors that open up to the screen porch and magnificent natural marsh view.. The huge screen porch 15′X45′ with a westerly exposure is ideal for enjoying coastal sunsets and entertaining. Walk across the street to the secure community dock where you can keep your motor/sail boat, kayak or just gaze across the river to North St Simons and Darien. 3 car garage and more…
237 Florida Street, St Simons:   Foreclosure!! 3 bedrooms 2 baths 1490 sf   $185,000 Handyman Special! Needs work but great potential. Great location with Golf Course view in Fairway Oaks neighborhood. Close to FLETC and all the best shopping /stores in Brunswick. Features: Brick exterior, 3 bedrooms (4th bedroom converted into a closet) / 2 bathrooms / 2 car garage / glassed in porch plus a screen porch, 1876 sq feet. .28 acres.This is being sold as a short sale (pre-foreclosure)so all offers are subject to lenders acceptance. Not suitable for FHA financing. Acceptance to closing process may take 3 months or longer. Sold “AS IS”. No disclosure.
168 Fairway Oaks Drive, Brunswick:   Short Sale – Pre Foreclosure 3 bedrooms 2 baths 1876 sf  $59,000  Golf Course View!! Handyman Special! Needs work but great potential. Great location with Golf Course view in Fairway Oaks neighborhood. Close to FLETC and all the best shopping /stores in Brunswick. Features: Brick exterior, 3 bedrooms (4th bedroom converted into a closet) / 2 bathrooms / 2 car garage / glassed in porch plus a screen porch, 1876 sq feet. .28 acres.This is being sold as a short sale (pre-foreclosure)so all offers are subject to lenders acceptance. Not suitable for FHA financing. Acceptance to closing process may take 3 months or longer. Sold “AS IS”. No disclosure.
305 Maple Street St Simons:   Cream Puff -  Totally REDONE  from the Studs Out Why Buy  A Condo When You Can Buy a House? 2 bedrooms 2 baths  1156 sf   $189,000 Charming, classy chic, like new completely remodeled interior & exterior maintenance free island patio home cottage. Gated courtyard entrance. Home taken down to the slab & studs. NEW siding, roof, windows, sliding glass doors, and French drains. Flooring has 18×18 porcelain tiles.  All doors, cam lights, other lighting, ceiling fans & plumbing fixtures-new! Kitchen & laundry have all new appliances. Custom cabinets in kitchen. Showers/baths have custom porcelain tiling on walls. New drywall & very stylish designer colors on walls. Electrical & wiring all up to code. Lots of natural light plus an open & airy comfortable home. Sidewalk & patio stamped concrete. New garage door. New lush landscaping too!
201 Red Maple Lane Brunswick:   Foreclosure! 2.5 Acres, In-ground Pool Gated Community!! 4 bedrooms 3 baths 2700 sf   $249,900 Beautiful One Level Brick Home in a great neighborhood with large 2.5 acre lot with pond and in-ground pool.  Great split bedroom floor plan with huge master bath featuring custom tile work… House is being sold in AS IS CONDITION Large brick with 4 bedroom/3 bath with pool and bonus room. Lots of potential but home requires a some TLC. Must have pre-approval letter or provide proof of funds at time offer is placed.

1. Run On Escrows
When you’re buying a home (or selling one, for that matter), time is absolutely of the essence.
Buyers reasonably expect that the big time suck in real estate is in the house hunting process itself.
It seems like once you find a home you want to buy and the seller agrees to your price and terms,
things should move pretty quickly, right?
Not so much, when it comes to some distressed property sales. We’ve heard of the occasional,
swiftly-moving escrow on an REO (real estate owned – by the bank), but for the most part, these
transactions take anywhere from a few days to a few weeks longer than “regular” sales, because of
the extra signatures, supervisor-level approvals and even investor involvement required to seal the
deal.  Banks don’t have the same sense of urgency individual home sellers do, and it’s not
uncommon for the people who need to sign on the dotted line to be on vacation or scattered
across the country, adding days or weeks worth of time to the escrow.
Short sales are also an entirely different animal when it comes to escrow timelines. While a standard
sale from an individual seller to an individual buyer might take 45 days from contract to closing, a
short sale can take anywhere from 45 days to 6 or 8 months after the seller has accepted the
contract to get the deal closed.

A v  o  i  d   t  h  e   d r ama by:

Expecting your escrow to run long, and being pleasantly surprised if it doesn’t.  Expectation
management is everything. Make sure you take these extended timelines into account when you’re
working with your mortgage broker on the issue of when to lock your interest rate, and how long
your rate locks will last. You might even need to plan on and/or set aside an allowance for the cost
of extending your low interest rate if rates are rising rapidly during the time you’re waiting for the deal
to be done.

2.  Bank Won’t Take a Low Ball Offer
Banks owe their shareholders and investors a duty to get as much as they can for these properties.
Just because you see it’s on the market and listed as a short sale or a foreclosure doesn’t mean
they’re going to give it to you for a fraction of its worth. The bank’s goal is to get a purchase price as
close as possible to the home’s fair market value, as determined by the recent sales prices of similar,
nearby homes, with some adjustments made for the property’s condition.  Fact is, many banks
would rather see the listing agent reduce the price by a moderate amount, and wait to see what
offers come in, than to accept an offer 30 percent below the asking price just because there are no
other offers on the table.

A v  o  i  d   t  h  e   d  r  a  m  a   b  y  :
Working with your agent to make a realistic offer, based on recent comparable sales in the
neighborhood, not just on what you think you can get away with.  You can waste a lot of time, spin a
lot of wheels and lose out on a lot of properties making lowball offer after lowball offer on distressed
homes. Sit down with your broker or agent, review the ‘comps’ and make a smart offer that reflects
a good value for you, is within your budget and is not bizarrely out of the realm of the fair market
value of the property.

3.  Last Minute Postponements and Cancellations
These transactions have an uncanny way of being delayed at the last minute – or never going
through at all, through no fault of the prospective buyer. You signed docs yesterday, put your dog in
the crate this morning and just hopped in the moving truck, only to get a text from your broker that
the deal didn’t close because the escrow company which was selected by the bank flubbed the
checkboxes on a single sheet of paper (it happens). Or, you’ve been in contract (with the seller) on a
short sale for four months, and the bank refuses the sale entirely because the seller refuses to kick
even $1 of their own cash into the deal, despite having a flush savings account

A v  o  i  d   t  h  e   d  r  a  m  a   b  y  :
Staying as flexible as possible with your moving plans as long as possible.  Best practice is to plan
on some overlap between the time you can be in your last place and your scheduled move-in date.
Also, if you’re in contract on a short sale, you should take the point of view that you don’t have a firm
deal until you get the bank’s approval of the transaction. Don’t even think about starting to make
moving plans or paying for home inspections and appraisals until you know the bank has given a
green light to the deal and that the purchase price and terms they’ve approved work for both you
and the seller.

4.  The Banks Black Box

Make an offer on a normal home and you’re likely to know what the outcome will be within a few
hours or a few days, at the outside. If things take longer because the seller is out of town or some
such, the listing agent tells you that, and you at least know what’s going on.
Make an offer on a bank-owned property or a short sale?  It could be days, but could also, easily, be
weeks or months before you know what’s going on.  No amount of calling, pleading, prodding or
nudging is likely to get you much information on how your offer or the seller’s short sale application is
being handled or what (if any) progress is being made.  That “black box” into which your offer
disappears at the bank level can be very frustrating.
A v  o  i  d   t  h  e   d  r  a  m  a   b  y  :
Continuing your house hunt until you have an answer back.  Maniacally pestering the listing agent for
answers or harassing your buyer’s broker into spending hours on hold with the bank is highly unlikely
to get you any insight. (With that said, it does make sense for your agent to check in regularly -
sometimes even daily -  with a short sale or REO listing agent to stay updated on any developments
with the property and to make sure your offer/transaction stays in the front of their mind.)
Most of the angst in these situations arises when a buyer feels they passed on properties that would
have really worked for them when they pinned their hopes on a distressed home.  You can only
control your efforts and activities, not the bank’s.  Consult with your own broker or agent about
staying proactive in viewing and even pursuing other properties until you have a firm “yes” from the
bank on your short sale or REO offer. Until that time, and usually for a short time after you get the
bank’s approval, you have the right to back out of the transaction if you need to (make sure your
broker briefs you on precisely when your right to rescind your offer or exercise contingencies – i.e.,
bail – will expire).

5.  Double Standards

In a “regular” equity sale with no bank involvement, both buyer and seller are obligated to meet
various timelines.  Seller has to provide disclosures by X date, open the property to inspections
- with utilities on – by Y, and close and move out by Z.  REO and short sale buyers, on the other
hand, are often dismayed to find that even though the bank might take weeks or months to
sign or handle its deliverables, the bank will insist that the buyer show up, sign or send a check
quick-like.
A v  o  i  d   t  h  e   d  r  a  m  a   b  y  :
Chalking it up to the (admittedly irritating) way things are – the price you pay to buy from the
bank.  Realize that working with the bank on the bank’s terms is unavoidable when you buy a
distressed property. Then, go into the deal with realistic expectations – including the expectation
that the bank will drag its feet, despite expecting you to keep every deadline – and you’ll be less
frustrated, and less likely to make poor decisions out of frustration.
Also, make sure you do respond in a timely manner to the bank’s requests and your obligations
under the contract.  I’ve seen banks capitalize on buyer delays in returning signatures and
removing contingencies to accept higher offers they received in the interim.  Don’t lose your
home on a technicality because you assume that the bank’s lackadaisical timelines apply to you
as well.

Source: Trulia

The Peach State is a peachy tax environment for retirees. Social Security income is exempt, and so is up to $35,000 per person of most types of retirement income, including pensions, annuities, rental income and investment income for residents 62 and older. Retirement income above the exclusion amount is taxed at ordinary rates that top out at 6%. Beginning in 2012, taxes on retirement income will be phased out. The statewide sales tax is 4%, but local jurisdictions can add up to 4% of their own taxes. Food and prescription drugs are exempt. Real estate taxes may include a combination of county, city, school and state taxes, depending on location. Full-time residents qualify for a homestead exemption of up to 40% of the fair market value of their house, and residents 65 and older may qualify for additional deductions. There is no inheritance or gift tax, and a limited estate tax.

STATE SALES TAX
4% (food and prescription drugs exempt). But local taxes may add an additional 4%.

INCOME-TAX RANGE
1% – 6%

EXEMPTIONS FOR RETIREMENT INCOME
Social Security is exempt. Taxpayers who are 62 years of age or older, or permanently and totally disabled regardless of age, may be eligible for a retirement-income adjustment on their Georgia tax return. Retirement income includes income from pensions and annuities, interest income, dividend income, net income from rental property, capital-gains income and income from royalties. For married couples filing joint returns with both members receiving retirement income, the maximum adjustment for the applicable year may be up to twice the individual exclusion amount. Retirement income exceeding the maximum adjustable amount will be taxed at the normal rate. The retirement-income exclusion for the tax year is $35,000.

PROPERTY TAXES
A homeowner may pay a combination of county, city, school or state taxes depending on location. Homeowners 62 and older who earn $10,000 or less, will find that up to $10,000 of their property’s assessed value is exempt from school taxes. Persons 62 or older whose family income does not exceed $30,000 may qualify for an exemption from state and county property taxes equal to the amount by which the assessed value of the homestead exceeds the assessed value for the preceding tax year. For those 65 and older who earn $10,000 or less, $4,000 of their property’s value is exempt from state and county taxes as well. The state offers homestead exemptions to persons that own and occupy their home as a primary residence. Many counties offer homestead exemptions that are more beneficial to the taxpayer than the exemptions offered by the state. Homestead exemptions are filed with the county tax commissioner or the county tax assessor’s office. The homestead exemption is deducted from the assessed value (40% of the fair market value) of the home. Then the millage rate is applied to arrive at the amount of ad valorem tax due. Individuals age 65 and older get additional deductions.

INHERITANCE AND ESTATE TAXES
There is no inheritance tax or gift tax and only a limited estate tax, which is an amount equal to the amount allowable as a credit for state death taxes under Section 2011 of the Internal Revenue Code. In effect, the estate taxes paid to Georgia may be used to reduce the estate taxes due the IRS.

State tax data courtesy Retirement Living Information Center. Visit RetirementLiving.com for a complete rundown of taxes in Georgia.

Read more: http://www.kiplinger.com/tools/retiree_map/index.html?map=&state_id=11&state=Georgia#ixzz1LxpTvO16