Saturday, February 28, 2009

Tax Tips!!

The Time is still now!!!!

Great Townhome in Suwanee

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Monday, February 23, 2009

Thursday, February 19, 2009

Fulton County - deadline is April 1, 2009 404-612-6440

http://www.fultonassessor.org/Forms/HtmlFrame.aspx?mode=content/Exemptions.htm&taxyear=2007&ownseq=1&jur=&LMparent=180

DeKalb County - deadline is March 1, 2009 (file by Friday, 2/27) 404-298-4000

https://dklbweb.dekalbga.org/taxcommissioner/index.asp?pg=homestead#applications

Gwinnett County - deadline is March 2, 2009 770-822-8800

https://ssl.gwinnetttaxcommissioner.com/Property/information/TypesOfExemptions.aspx

Cobb County - deadline is April 1, 2009 770-528-8600

http://www.cobbtax.org/Forms/HtmlFrame.aspx?mode=content/Exemptions.htm&LMparent=189

Clayton County - deadline is April 1, 2009 770-477-3311

http://www.co.clayton.ga.us/tax_commissioner/exemptions.htm

Henry County - deadline is April 1, 2009 770-288-8180

http://www.co.henry.ga.us/taxcommissioner/PropertyTaxExemptions.shtml

Douglas County - deadline is April 1, 2009 770-920-7272

http://www.celebratedouglascounty.com/tax/

Fayette County - deadline is March 1, 2009 (aim for 2/27) 770-461-3652

http://www.fayettecountytaxcomm.com/HOMESTEA.html

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Thursday, February 12, 2009

Feds call for foreclosure halt

New Jobs may be Created!!

The $15,000 Home Buyer Tax Credit is Expected to Create 255,000 Jobs

If you haven’t yet gotten behind the $15,000 home buyer tax credit, which is an integral part of the economic stimulus legislation recently by the Senate, then hopefully these predictions will open your eyes to the drastic impact it could have on our economy. The National Association of Home Builders did a little research, and their findings suggest that this home buyer tax credit will result in nearly 500,000 additional home sales and create 255,000 new jobs in the year ahead.

“The tax credit will get prospective buyers back into the housing market on the day the bill is signed and stimulate activity throughout the economy,” said NAHB President and CEO Jerry Howard.

Increasing home sales, Howard added, will help to stabilize home values, slow the rate of foreclosures and shore up mortgage portfolios held by financial institutions, all of which will bolster confidence generally and trigger even more economic activity.

In addition to the 255,000 jobs created during the first year, NAHB estimates that the additional half million home sales will generate:

* $12.3 billion in wages and salaries
* $9.7 billion in net business income
* $6.6 billion in federal taxes
* $2.1 billion in state and local taxes

But the ripple and multiplier effect doesn’t stop there. NAHB research shows that the tax credit would result in $7.4 billion in economic activity outside the construction sector, including $4 billion in broker services, $2.5 billion in spending related to sales transactions and $350 million in spending for property improvements.

We hope the NAHB research is accurate and that the $15,000 tax credit will have these effects on the housing market and general economy. If you haven’t yet voiced your support for the legislation, don’t delay any longer.

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Tuesday, February 10, 2009

Encouraging Outlook!!




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Friday, February 6, 2009

YOUR REAL ESTATE NEWS LETTER!!!

Hello everyone I hope that you all are having a great day!!! For your Local and National Real Estate news visit my blog.....http://thesuccessofrealestate.blogspot.com


What area of Atlanta can offer what I am looking for?

Atlanta has many intriguing areas available for exploration. From the exclusive elegant Tudor homes of Buckhead, the diverse southern atmosphere of cabbage town, the family-friendly Candler Park, the elegant rolling hills of Alpharetta, or the vibrant thriving Camp Creek area, Atlanta truly has something for everyone. Visit www.yourcircleofsuccess.com for comprehensive knowledge of Atlanta area will help guide, direct, and counsel you through the relocation/home buying process.

What about grant programs?

There are many grant programs available, including the $4 billion Neighborhood Stabilization Program. This program was a part of the massive housing rescue bill passed by Congress in July, to assist buyers with grants for down payments. HUD currently has over 35 grant programs.

* ADA Funds
* Fulton County Down payent Assistance
* Dekalb County Down payment Assistance
* Tax Abatement Zones

Can I take advantage of foreclosures?

Whether you are a first time homebuyer or a seasoned investor, you can take advantage of the soaring foreclosure rates recorded in different counties and states all across the country. Jumping into foreclosure investing is dangerous, especially if you are not familiar with the process. You can get some good deals if the proper research is done. It’s best to have a knowledgeable realtor working and researching on your behalf.

* Atlanta Station to Auction Exclusive Condos
* South Side Luxury Homes at a $200,000 Price Reduction
* Us Home Auction in Georgia Feb 21st- 25th

Benefit from tax credits from 2008

First time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after April 9, 2008 and before July 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs. JUST ANNOUNCED!! Home owners Tax Credit RAISED TO $15,000!!!

Time For Action is Now!!

Luxury new homes in South Fulton County at a discount of $200,000. Theses bank owned properties are in Union Crossing, a community offering estate style homes featuring four to five bedrooms with lavish appointments, extensive detailing and stylistic architecture making each home a one-of-a-kind residence. Union Crossing provides homeowners with an exceptional location in the Cascade area of South Fulton County. For those that love to travel or have a job that requires frequent traveling, these amazing homes are only minutes from Hartsfield-Jackson Atlanta Airport. They also provide an easy commute to Downtown Atlanta and the new Camp Creek Marketplace. Homes originally that were in the high $500’s and Low $600’s are now priced from the $300’s and $400’s.

Each home is completely unique, and they must be seen and appreciated individually. This is a unique selling point for Union Crossing because most new communities in Atlanta real estate seem to be offering cookie-cutter houses that all seem identical. While each home is architecturally different, there are some amazing standard features found in these luxury Atlanta homes that are usually considered upgrades everywhere else, like owners’ suites as well as guest bedrooms on the main floor, full basements, multiple fireplaces, media rooms, hardwood floors throughout, stack stone brick elevations, jen air appliances, and cathedral ceilings. The community itself features the Union Club, which was created for all generations and kids of all ages. The amenities include a completed children’s play park, tennis center, and all-sports-court, exercise room, party pavilion and pool.

Atlanta Real Estate Forum


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Thursday, February 5, 2009


The U.S. Senate
on Wednesday unanimously approved an amendment to the economic stimulus
bill by U.S. Senator Johnny Isakson, R-Ga., that gives a $15,000 tax
credit to anyone who buys a home in the next year.



Isakson’s amendment would provide a direct tax credit to any
homebuyer who buys any home. The amount of the tax credit would be
$15,000 or 10 percent of the purchase price, whichever is less.
Purchases must be made within one year of the legislation’s enactment,
and the tax credit would not have to be repaid.



The amendment would allow taxpayers to claim the credit on their
2008 income tax return. It also seeks to prevent misuse by only
allowing purchases of a principle residence and by recapturing the
credit if the home is sold within two years of purchase. The amendment
would sunset the current $7,500 housing tax credit on the date of
enactment.



“It is rare that we have a road map to success in times of
difficulty, but this country has once before realized a housing crisis
every bit as bad as the one we have today and economic troubles every
bit as dangerous,” Isakson said. “We have a pervasive housing problem,
and we have a historical precedent that works. I am proud this Senate
has joined together, learned from history and repeated a method that
worked by adopting this amendment.”



In the mid-1970s, America faced a similar housing crisis when a
period of easy credit and loose underwriting flooded the market with
new construction. Interest rates rose, the economy slowed and America
was left with a three-year supply of vacant homes. Congress responded
by passing a $2,000 tax credit for anyone purchasing a new home for
their principal residence. Isakson said he believes the results were
clear and swift as home values stabilized, housing inventory dropped
and the market recovered.



Isakson has not made a decision about his vote on the overall economic stimulus legislation.



Wednesday, February 4, 2009

40 Element at Atlantic Station condos to be auctioned

Developer wants to unload in stagnant market; bids start 56% below list price

The Atlanta Journal-Constitution

Tuesday, February 03, 2009

Atlanta’s condominium market was so hot a few years ago, an entire building would pre-sell in a matter of weeks.

Element at Atlantic Station in Midtown was one of those must-have properties. Its 322 units were all under contract months before the building opened.

Enlarge this image

KEVIN DUFFY / kduffy@ajc.com

Element at Atlantic Station in Midtown opened in 2006.

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Photos: More than 1,800 properties up for auction in Fulton County
Even a fire that destroyed the partially built project in July 2005 failed to dim Element’s appeal. Just one contract was canceled, and Element was rebuilt.

But those supposed sales were a mirage. Half of Element’s buyers abandoned their contracts, and today the developer, the Lane Co., still owns 35 percent of the units.

Now Lane wants to shed a bunch of those Element homes all at one time. Boston-based Accelerated Marketing Partners will auction 40 units Feb. 28 at the W Atlanta downtown.

The next day, Accelerated Marketing Partners will travel to the W Perimeter Hotel Atlanta to auction 35 units at the Sterling of Dunwoody, a suburban project developed by the Providence Group.

Auctions have become a quick fix for stalled sales in metro Atlanta. Last year, Accelerated Marketing Partners sold more than 50 condos at the Tribute Lofts in intown Atlanta and at the Promenade at NorthPlace in Sandy Springs.

Intown Atlanta is awash in 6,000 unsold condos, according to the local real estate consultant Haddow & Co. Just 66 new units sold in the second half of 2008, Haddow & Co. says. For the year, 645 new condos changed hands, which is 76 percent below the average of the previous eight years.

Element opened in 2006 when condo sales were beginning to slide and inventory was soaring. Contract signings and sales closings on new units slipped from 60 percent in 2005 to 49 percent the following year, Haddow & Co. says.

Element supposedly quickly sold out in late 2004 when all 322 contracts were signed. But by the time it opened, “the market shifted and the buyers did not show up,” said Andrew Gardner, the Lane Co.’s director of condo operations. Many of those buyers apparently were investors who walked away from their earnest money because of the changing market, he said.

Gardner said an auction quickly establishes what the market is willing to pay and helps the developer exit a project.

Minimum bids at Element will be as much as 56 percent below listed prices. For example, a one-bedroom unit at Element that was priced at $214,900 will start at $95,000. Other minimum bids will be $139,000 for a two-bedroom unit that was listed at $276,900, and $205,000 for a three-bedroom unit that was priced at $414,900.

The Lane Co. used Accelerated Marketing Partners last year to auction condos in Hollywood, Fla.

Jon Gollinger, co-founder of the auction company, said the Atlanta marketplace is at a stalemate and “you’ve got to let the consumer break the logjam.”

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STIMULUS PACKAGE

Call to Action for Economic Stimulus Package


The current economic stimulus package
is working its way through the House and Senate. However, the bad news
is that neither of them are embracing the necessary enhancements of the
$7,500 home buyer tax credit that would actually help to boost the
housing market and economy. Thus, we need you to take action and
contact your Congressmen ASAP! Here is what is currently being passed
through Congress:


On January 28th the House of Representatives passed its version of
the economic stimulus bill - H.R. 1, the American Recovery and
Reinvestment Act of 2009 - by a vote of 244-188.  H.R. 1 eliminates the
repayment requirement on the $7,500 housing tax credit. Unfortunately,
the credit falls short in other areas.  It is only available until June
30, 2009, and the $7,500 amount has proven to be too small to entice
people to buy.  Further, the credit cannot be used at the closing
table, a key omission that would make the credit more attractive to a
home buyer.


On January 27th, the Senate Finance Committee passed its version of
tax stimulus. In addition to eliminating the repayment requirement,
this legislation moved a little farther than the House on the tax
credit by extending it until September 1, 2009.  Yet overall, the
Senate credit has the same shortcomings as the House credit.


So, what to do? We need you to voice your disappointment with the
stimulus bills. Call, email, fax, send a letter or use any other form
of communitcation to urge your local Congressmen to alter the bill with the necessary enhancements to the tax credit.

Tuesday, February 3, 2009

Monday, February 2, 2009

Loan Modification

Great Real Estate News!!




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