Posted by Randy Chavers on Tue, May 04, 2010 @ 08:58 AM
Another option...
When considering home security, most of us think of alarm systems as the first line of defense. However, there are other options that you may want to consider. According to security experts, the most popular way for a burglar to enter a home is by breaking in a door or smashing a window. Installing security film on your windows can help address that vulnerability, as you will see in the video below.
Special thanks to Murray Curtis for permission to film and post this combination interview/installation. We hope you find it informative and will share your thoughts by leaving a comment below. Enjoy!
Posted by Randy Chavers on Fri, Apr 30, 2010 @ 04:59 PM
On Newstands Now...
If you're looking for a good snapshot of the current real
estate market, consider picking up the May 2010 edition
of ATLANTA Magazine, or go online to read a couple of
sample pages at www.atlantamagazine.com.
Topics discussed in the guide include;
" The Sellers Dilemma; tips for selling your home in today's market."
" Good Deal Hunting; The life of a house flipper in an upside-down market."
" Taxed Out; what Georgia's new property tax law could mean for you.
" Homes on the Rise", a series of 4 articles where the staff recommends
their choice of best neighborhoods for finding Vintage Charm,
Schools, or Green-Space.
Also included is a handy two-page chart displaying dozens of Metro Atlanta cities and
neighborhoods complete with Average selling price (2009), percentage change
in price over the past year and average days on market. Schools, population,
crime and commuting are charted as well.
An excellent article with great graphics, superbly edited by Amanda Heckert.
Don't miss it if you have any interest in Metro Atlanta Real Estate. That should
apply to at least 4 and a half million of us. Enjoy!
Randy Chavers CRB, CDPE
Director, Internet Marketing
RE/MAX Metro Atlanta
Posted by Randy Chavers on Fri, Apr 23, 2010 @ 10:53 AM
It's Scary On The Prairie
According to the latest reports, 1 homeowner out of 7 is behind on their mortgage payment. The Great Recession combined with payment increases as mortgages reset has made it impossible for many to afford living in their current home.
Negotiating a Short Sale or signing over the Deed In Lieu (DIL) of Foreclosure have been options for many, but stories describing endless delays, lack of standard procedures and surprise promissory notes for deficiencies have terrified many into just leaving the keys on the counter and walking away.
"Do I hear bugles?"
To the relief of all those homeowners surrounded by hostile mortgage processors, the U.S. Treasury is coming over the hill with a new program. Launched on April 5th, the Home Affordable Foreclosure Alternative (HAFA) establishes streamlined short sale rules and incentivizes borrowers and lenders to work together to avoid foreclosure. HAFA financial incentives include $1,000 to loan servicers to cover administrative fees, up to $1,000 for mortgage investors who agree to share short sale proceeds with second lien holders and $3,000 to the homeowners for relocation. Also, under HAFA ,there is no over-hanging liability (contingent) to the bank, that is, the homeowner will not be required to sign a promissory note for the shortfall of the mortgage balance.
Time is of the Essence
Perhaps the best thing about HAFA is the requirement that participating lenders provide the sale price they are willing to accept before the home is put on the market. Doing the work on the front end should move things along much faster than before.
The Bad News; It's Complicated.
The good people at the U.S. Treasury have a variety of requirements, rules and regulations that must be followed during the process. It may be well-advised to consider working with a real estate professional who has completed a certification course in distressed properties, such as the CDPE (Certified Distressed Property Expert). To receive an email with a list of CDPE graduates, send us an email at customerservice@realestateofatlanta.com with "CPDE List" in the subject line.
Posted by Randy Chavers on Wed, Jan 06, 2010 @ 07:36 AM
Signed into law on November 6,2009, the new Act extends and
expands the first-time homebuyer credit allowed by previous Acts including
these provisions;
You have an extra
year to buy a home-until April 30, 2011
"Members of the military and certain other federal employees
serving outside the U.S. have an extra year to buy a principal residence in the
U.S. and qualify for the credit. Thus, an eligible taxpayer must buy,
or enter into a binding contract to buy, a principal residence on or
before April 30, 2011. If a binding contract is entered into by that date, the
taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services,
members of the Foreign Service and employees of the intelligence community are
eligible for this special rule. It applies to any individual (and, if married,
the individual's spouse) who serves on qualified official extended duty service
outside of the United States for at least 90 days during the period beginning
after Dec. 31, 2008, and ending before May 1, 2010."
3 Year Principal
Residence Requirement Can Be Waived
Buyers
using the tax credit do NOT have to pay any portion back unless the home
ceases to be the
taxpayer's main residence within a three-year period following the purchase,
but there are exceptions for
military and some Federal employees. According to the IRS;
"In many cases, the credit repayment (recapture) requirement
is waived for members of the uniformed services, members of the Foreign Service
and employees of the intelligence community. This relief applies where a home
is sold or stops being the taxpayer's principal residence after Dec. 31, 2008,
in connection with government orders received by the individual (or the
individual's spouse) for qualified official extended duty service. The credit
is still allowable even if this happens during the year of purchase. Qualified
official extended duty is any period of extended duty while serving at a place
of duty at least 50 miles away from the taxpayer's principal residence (whether
inside or outside the U.S.) or while residing under government orders in
government quarters. Extended duty is defined as any period of duty pursuant to
a call or order to such duty for a period in excess of 90 days or for an
indefinite period."
For
more details on this program, including links to IRS Tax Credit information,
instructional videos and other valuable resources, please visit the Real Estate
of Atlanta 2010 Tax Credit Guide or email us at TaxCreditGuide@RealEstateOfAtlanta.com.
Posted by Randy Chavers on Tue, Jan 05, 2010 @ 03:55 PM
Thousands of Atlanta homes are bargain priced, interest
rates are at historic lows and you can get up to $8,000 of your hard-earned
tax dollars back if you haven't owned a home in the past 3 years. It's a great
combination, but you will want to know the answers to the following questions;
-
What's the time limit? You must sign a purchase
contract no later than April 30, 2010 and close before July 1.
-
Who is considered a first time homebuyer? You
are... if neither you nor your spouse has owned a primary residence in the U.S.
within the last 3 years.
-
How much income do I need? There is NO minimum
income for claiming the tax credit. If you don't owe any taxes, you can receive
the money in cash. Seriously!
-
When do I get the tax credit? You can claim the credit
when you file your 2009 or 2010 tax return. There are also programs that will
advance the money to help on your down payment. Click here for information on Tax
Credit Advance programs.
-
Do I ever have to pay the money back? This is
money that never has to be repaid, provided you live in the home for 3 years.
-
Can I buy a house for $900,000? No. The program
caps the home price at $800,000. Any amount over the cap makes the home
ineligible for the tax credit.
- View the video below for a summary;