News Alert! First Time Home Buyer Tax Credit Extension Approved!

The First-time home buyer tax credit that is set to expire on November 30th WILL BE EXTENDED for contracts written on or before April 30, 2010 and closed by June 30, 2010.

The Bill added two other noteworthy items. The first is a tax credit for existing home owners on new purchases up to $6500 (must have resided in current residence for the past 5 years). The second addition to this Bill was that it raised the income limits from $75K for single taxpayers to $125K and joint taxpayers from $150K to $225K.

It appears that our elected officials in Washington finally understand that this is one of the stimulus ideas that has actually worked. The first-time home buyer tax credit has truly stabilized home prices over the past several months and a lack of an extension of this credit would have certainly driven home prices 5% to 10% lower over the next 90 to 120 days. The addition of a tax credit for existing home owners should only enhance the power of this economic stimulus package in the real estate area.

To find answers to frequently asked questions, visit http://federalhousingtaxcredit.com/

Residential Real Estate: Industry backs extension of $8,000 tax credit

If you were thinking about buying a new home and were concerned the federal $8,000 tax credit window was nearing, there MAY be some hope. Sen. Johnny Isakson, R-Georgia, and Senate Majority Leader Harry Reid, D-Nevada, introduced Senate Bill 1678 extending credit to June 1, 2010. This is PROPOSED legislation, so keep your fingers crossed as this is no guarantee it will be extended.

Fulton Tax Bills to Be Issued by End of October

For those of you wondering where your 2009 Property Tax Bill is (usually received in August). Fulton County has now said the tax bills will not be mailed out until early / mid-October. Once property owners receive their tax bill they will have 60 days from receipt to pay it.

The delay posted on the Fulton County Website (is somewhat dated) and reads as follows:

Fulton County Manager Zachary Williams has received confirmation that Fulton County Tax Commissioner Arthur Ferdinand is moving forward with issuance of tax bills for FultonCounty property owners. Tax bills will be mailed to residents by the end of October.

On August 24, 2009, the Fulton County Superior Court issued a Temporary Collection Order, which allows the Tax Commissioner to bill 2009 property taxes using the approved 2009 millage rates and 2009 property values.

Approximately 131,345 FultonCounty residential properties have lower values this year compared to 2008. The only residential properties that increased in value in 2009 were new construction or major renovations.

Pursuant to the order, parcels whose valuations are in appeal will be billed at 85% of their value pending the settlement of their appeals.

The Fulton County Tax Commissioner collects property taxes for FultonCounty, the City of Atlanta, AtlantaPublic Schools, FultonCountySchools, and many of the other cities within FultonCounty.

THE BOTTOM LINE…expect to receive your tax bills mid-October which will be due just in time for the holidays

Peachtree Corners Townhouse Listed !

This townhouse is in an absolutely PERFECT location, in Peachtree Corners about 5 minutes from the fabulous Forum shopping and restaurant mall which is one of the finest in North Atlanta. This townhouse is enormous and has approximately 2,200 square feet of living space that includes 3 bedrooms and 2.5 bathrooms. It is in terrific condition, extremely well maintained and is it ever convenient to get to! It easily accessible via I-85, I-285 and Peachtree Parkway. Offered for sale at $210,000 this is a townhouse you don’t want to miss out on. Click here to learn more about this terrific townhouse in Norcross. Give us a call at 678-907-9155 to view the property today!

breakfast nook 247

kitchen 268

back patio 240

front 213

master bedroom 303

Made Easy…Finding North Atlanta “Short Sales” for Sale

We’ve just added a new section to our website to make it MUCH easier for BUYERS to seek out / find “Short Sale” properties as well as for SELLERS to promote the sale of their property on our website.  Short Sale properties are described on our website for Seller’s who might need to sell their home, but find themselves in a difficult position to sell because their home’s resale value will be less than what they owe on their mortgage.  This is called a “Short Sale”.  IF YOU ARE A SELLER OR POTENTIAL SELLER, you will want to read more information about “Short Sales”, click on the link below:
Click here to learn more information about Short Sales.

IF YOU ARE A BUYER, seeking out a bargain via finding a “Short Sale” you’ll LOVE this new section we added to our website.  It is specific for North Atlanta and allows you to specifically search for ONLY Short Sale properties specifically in Atlanta, Alpharetta, Cumming, Johns Creek, Milton, Roswell, Duluth, and Suwanee.  To search for “Short Sales’ in these communities you can either click on the “SHORT SALE Search” button in the left side navigation, or click on “SHORT SALE Search” in the text link at the bottom of all of our web pages OR click on this link to begin your Short Sale search:

Click here to conduct a quick search of Short Sale North Atlanta homes.

The Diane Kelly Team with Keller Williams Realty of North Atlanta has closed numerous “Short Sale” transactions for both our Buyer clients AND Seller clients.  If a “Short Sale” is the direction you are heading, you will not find a more experienced team of realtors to help you Sell your home or purchase your new dream home.  Call us today to get started at 678-907-9155!

3 Bedroom / 2 Bathroom in cul-de-sac for sale in Cumming (has video)

This is a recent listing that is located right next to the Johns Creek / Cumming city limit boundary line right off of McGinnis Ferry Road on the east side of GA 400.  This property is in a fabulous swim and tennis subdivision, located on a quiet street in a cul-de-sac and even has a flat backyard!  The subdivision is called the Preserve at Brookwood, and is a well maintained neighborhood.  The property resides on a slab, has a private, fenced in backyard and a perfect home to take advantage of the $8,000 federal tax credit program (expires November 30th!)  for qualified buyers.  Click here to view the video for the home for sale in Preserve at Brookwood, located in Cumming Georgia.

The video gives you an excellent perspective of driving to the property.  Don’t forget to check out the “Picture Gallery” too!

Johns Creek Symphony Orchestra

Johns Creek has established a 45 piece symphony orchestra I’ve just learned.  This is NOT a community orchestra (which would have been terrific as well).  The Johns Creek Symphony Orchestra (JCSO), directed and conducted by J. Wayne Baughman, is comprised of professional musicians from all around the great Atlana metro area.   The musicians are among the finest instrumentalists in America, with an average of 15 years experience in professional orchestras, with most members achieving a graduate degree or artist diplomas in performing arts from higher learning institutions throughout the U.S. with many achieving additional training throughout western Europe. 

The 2009-2010 season begins in October:

October 24, 2009
“Homage to Franz Joesph Haydn” featuring Archdiocesan Festival Choir of Atlanta
Venue: St. Benedict Church on Parsons Road located in Johns Creek

December 5, 2009
“Annual Holiday Pops Concert” Christmas gala with champagn dessert reception with guest artist Banks & Shane
Venue: St. Benedict Church on Parsons Road located in Johns Creek

February 6, 2010
“A Chopin Tribute” featuring pianist Piotr Folkert – Beethoven & Schubert
Venue: Theater at Northview High School on Parsons Road in Johns Creek

May 1, 2010
“An Evening at the Proms” Season Finale inspired by BBC Promenade Concerts – Light Classics & Pops
Venue: Theater at Northview High School on Parsons Road in Johns Creek

 Tickets are $28 for adults, $22 for senior citizens and $15 for students.  For ticket information you can go to www.johnscreeksymphony.org or call 678-748-5802

2 Tax Credits for Qualified Buyers Expire December 1, 2009

Many buyers have been graced with two tax credits available in 2009 provided courtesy of both the Federal government and State of Georgia.

First there is the $8,000 First Time Home Buyer Federal Tax Credit for qualified buyers if they purchase and close on a home used as their primary residence between January 1, 2009 and December 1, 2009. 

What is the federal government’s definition of a first-time home buyer for this specific program?
The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.
For more details about this program call the Diane Kelly Team at 678-907-9155 or you can view an excellent FAQ provided by the National Association of Home Builders of this federal prgram by going to : http://www.federalhousingtaxcredit.com/2009/faq.php

For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.

Secondly, the State of Georgia also has passed legislation allowing qualified buyers (not just first time home buyers) to purchase a home and receive up to an $1,800 tax credit ($600 per year for 3 years will get credit to your tax return).  This program is available for home buyers who purchase homes that were listed for sale prior to May 11, 2009; OR foreclosed homes that were purchased; OR new construction; OR An owner occupied residence with respect to which the owner’s acquisition indebtedness, as defined in Section 163(h)(3)(B) of the Internal Revenue Code, determined without regard to clause (ii) thereof, was in default on or before March 1, 2009.  For specific details regarding the Georgia Tax Credit bill HB261 please call the Diane Kelly Team at 678-907-9155 or you can view the specific details of Georgia HB261 by going to the following link:  http://www.legis.state.ga.us/legis/2009_10/fulltext/hb261.htm

Top 4 reasons why Seller’s should Prep Home before Sale — $$$$

If you have made a decision to sell your home in North Atlanta, and want to acquire as much money from the sale as possible, making repairs AND preparing your home is BEFORE the first potential Buyer shows up is a MUST!   I have noted a few (of the many major reasons I share with my Seller clients) below that need to be done during the preparation stage to successfully sell their home.  In short, I always have Seller client’s homes professional staged (which I pay for…call me at 678-907-9155 for more information!) and I recommend my Seller clients make the necessary repairs BEFORE the sign goes up in the front yard.

Top Four Reasons

1. Potential Buyers are distracted by items needing repair and staging, they will lose focus on your home’s positive attributes and focus on the negatives.  Simple things like removal of dated wallpaper, fresh (neutral paint inside), fresh paint outside, landscaping cleaned up, clutter removed, siding repaired, worn or outdated carpet replaced, repairing cracked walls / tile, lights, etc. will save a Seller $$$ thousands by securing a higher price and/or selling their home more quickly.  

2. Regarding repairs, the actual cost to fix the items in your home needing repair will ALWAYS be less than a buyer’s estimate.

3. Seller’s can avoid price reductions or providing Buyer allowances (see below) to accommodate the inflated costs to make required repairs or paint, replace carpet, etc. based on a Buyer’s estimate.

4. Extended purchase negotiation timeframes can be avoided due to needed repairs that can potentially risk losing the buyer.

Allowances a no-no for Sellers!

Selling your home today, especially in the Atlanta / North Atlanta market is a beauty contest with a large inventory of homes competing with each other.  The houses that are in A-1 condition sell more quickly and secure a higher sale price.  If you want to get the most out of the sale of your property, you need to do the right things to get it ready for sale.  Let me show you how!

Providing the Buyer an allowance (instead of making obvious repairs before the house goes onto the market) is a HUGE mistake.  Ultimately, it will cost the Seller much more in time (house is on the market) and value in the final price negotiated.  Many Sellers MISTAKENLY believe an allowance provides the Buyer the most flexibility (to choose contractors, colors, style, etc.).  What Seller’s don’t realize are Buyer’s, especially in a Buyer’s market, DO NOT WANT A PROJECT.  Buyer’s want to be able to move straight into the home they purchase with as little work required as possible. 

As a Realtor with Keller Williams in the North Atlanta market, I provide detailed information and staging services to my Sellers to help ensure we get the most value / equity out of your home when I list and sell it.  If you are considering a move, please give me (Diane Kelly) a call at (678) 907-9155.  I’d like to interview for the job! 

Lake Lanier Water Level – 2008

Nestled in the foothills of the Georgia Blue Ridge Mountains lies Lake Lanier, one of America’s favorite lakes in which over 7.5 million people a year choose to visit. With over 692 miles of shoreline, the lake is well known for its aqua-blue colored water, spectacular scenery and variety of recreational activities.

 

Constructed by the U.S. Army Corps of Engineers in the 1950’s, Lake Lanier is a multi-purpose lake that provides for flood protection, power production, water supply, navigation, recreation and fish and wildlife management.

 

Lake Lanier is one of 464 lakes in 43 states constructed and operated by the U. S. Army Corps of Engineers.  For more information about Lake Lanier, it’s current water level, and more go to the U.S. Army Corps of Engineers website for Lake Lanier: http://lanier.sam.usace.army.mil/ .