Dan Connolly

Without seeing the home it would be just a guess, but with all the upgrades, including the finished lower level it would be a great deal in the 200's and into the lower 300's as well. But I would really have to see it to be sure. If the back yard is on I85 or the house is on Briarcliff it may impact value. - Sat Sep 27 2008, 09:23

Well in the First Multiple Listing Service, there were 187 home sales in the last 12 months in 30345. The home sales prices have to do with a variety of factors. Oak Grove and Sagamore Hills elementary seem to command higher prices than some of the other school districts. A lot of the sales in the 200's were in the part of the zip code that is west of I-85. Those neighborhoods have smaller homes. But the size of the house, whether or not it has a finished lower level, big lot and upgraded kitchen and baths all contribute to the sales price. - Fri Sep 26 2008, 23:53

It backs right up to I-20 so there is a bit of traffic noise to put up with. Other than that there isn't anything that I know of that is wrong with the neighborhood! - Fri Sep 26 2008, 23:59

FHA has begun to price interest rates and discount points with credit scores, just like conventional lenders. Also the idea that the MIP stays forever is not correct. When you pay your principle down to 80% of purchase price the MIP can be removed on a FHA loan. - Wed Aug 6 2008, 19:00

It looks like you are asking if PMI means 20% down. PMI is private mortgage insurance which conventional lenders charge for loans with less than 20% down. FHA has mnortgage insurance as well which is called MIP (mortgage insurance premium). The FHA down payment has been raised to 3.5% and the MIP remains on the loan until you have paid the principal below 80% of the original purchase price. In a conventional loan the PMI can be removed when the property appraises (by a lender approved appraiser) for 20% more than purchase price. - Sat Aug 2 2008, 07:59

Here are some places to look:

Hud's website: http://www.hudpemco.com/
Fannie Mae's foreclosures: http://www.fanniemae.com/reoSearchApplication/fanniemae/reoS…
Freddie Mac's foreclosure search: http://www.homesteps.com/hm01_1featuresearch.htm
VA foreclosures: http://www.ocwen.com/reo/home.cfm
Foreclosures listed in FMLS and GA MLS: http://www.realty4atlanta.com/investments/foreclosures/ - Sun Aug 3 2008, 21:39

Virginia Highlands, Morningside, (these two, you would be near the bottom of the price range) Also you could look at Candler Park, Lake Claire, Decatur (near the actual town square), Oakhurst is good, East Atlanta, Ormewood Park, Grant Park, Cabbagetown and Reynoldstown. I have a page for each the website listed below - Sat Aug 2 2008, 07:52