Fred Filsoof President of Coordinated Properties Discusses Atlanta's Real Estate Market and the Importance of the First Time Home Buyer's Credit Score
First-timer home buyers have a lot of ground to cover, from learning about market conditions to landing the best loan. "Over the past year, lending requirements have tightened and credit thresholds have increased across the board", says Fred Filsoof, President of Atlanta based, Coordinated Properties. Any first time home buyer should be purchasing a home before April 30th to take advantage of the federal housing tax credit.
Atlanta, GA, February 12, 2010 --(PR.com)-- It was a difficult first quarter for the Atlanta real estate market. A sharp decline in consumer spending, along with the banking crisis, stymied business growth and caused many businesses to fail. The combination of these factors can easily translate into great opportunities for first-time home buyers to maximize their purchase power by taking advantage of the changing market conditions.
There are many fantastic deals currently available in the Atlanta real estate market. Prices have never been lower and builders are willing to offer additional incentives. Plus, mortgage interest rates are also at all-time low levels. As you begin to look seriously for a house, being an informed buyer and knowing what is on the market is key. Also, know what your budget is and stick to it–don’t be afraid to negotiate.
Credit Score
Credit scores not only make the difference between a mortgage approval and mortgage turn-down, but they also play a large role in determining your actual mortgage note rate. In order to protect your credit rate, avoid these mistakes:
* Closing open credit cards
* Making appliance buys on credit prior to closing
* Asking creditors to lower credit balances prior to closing
In general, a 740 FICO will insulate a borrower from the higher costs and/or rates associated with low credit scores. Below 740, though, every 20 points adds to the damage.
Ongoing Projects
"Presently, Coordinated Properties is completing the third stage of development of a 270 acres high end residential development known as Litchfield, in the suburb of Atlanta", Fred F. Filsoof announced. The company also acquired approximately 1400 acres of high elevation in the Western Carolina mountain lands in Cashier, Franklin and Maggie Valley, primarily for the development of second homes, resort and equestrian developments. "This large scale project is presently ongoing," Fred F.Filsoof included. The company has also acquired approximately 400 acres of water front partially developed properties in Beauford, NC. with completion plans in the future.
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There are many fantastic deals currently available in the Atlanta real estate market. Prices have never been lower and builders are willing to offer additional incentives. Plus, mortgage interest rates are also at all-time low levels. As you begin to look seriously for a house, being an informed buyer and knowing what is on the market is key. Also, know what your budget is and stick to it–don’t be afraid to negotiate.
Credit Score
Credit scores not only make the difference between a mortgage approval and mortgage turn-down, but they also play a large role in determining your actual mortgage note rate. In order to protect your credit rate, avoid these mistakes:
* Closing open credit cards
* Making appliance buys on credit prior to closing
* Asking creditors to lower credit balances prior to closing
In general, a 740 FICO will insulate a borrower from the higher costs and/or rates associated with low credit scores. Below 740, though, every 20 points adds to the damage.
Ongoing Projects
"Presently, Coordinated Properties is completing the third stage of development of a 270 acres high end residential development known as Litchfield, in the suburb of Atlanta", Fred F. Filsoof announced. The company also acquired approximately 1400 acres of high elevation in the Western Carolina mountain lands in Cashier, Franklin and Maggie Valley, primarily for the development of second homes, resort and equestrian developments. "This large scale project is presently ongoing," Fred F.Filsoof included. The company has also acquired approximately 400 acres of water front partially developed properties in Beauford, NC. with completion plans in the future.
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Contact
Coordinated Properties
Fred F Filsoof
404 210-8517
Fred F Filsoof
404 210-8517
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