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Real Estate Agent |
RAINER 19,106 |
| Johnny Sabic | ||
| Atlanta Real Estate | ||
| location_on North Atlanta, GA — www.atlantamyhome.com | ||
| insert_link http://www.AtlantaMyHome.com | ||
| web Atlanta Real Estate Blog - Johnny Sabic Team | ||
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Price it Right - Pricing and Staging Stats Atlanta Homes-Atlanta Real Estate - Atlanta Homes for SaleSellers who listed their home at the price originally recommended by their agent sold it:
38 days faster For 2.25% higher With 1 less price reductionCompared to sellers who did not take their agent's recommendation.
Staging Stats
Compared to homes that were not staged, staged homes had:
more showings a higher list-to-sell percentageOther notable stats found include:
Only 1 in 3 sellers staged their home, even with all the commonly accepted advantages of staging. Staging typically took between 2 - 6 hours to complete. Including the cost of a staging professional and items purchased or rented, staging cost an average of $523.Although it has advantages at all price points, staging was also found to be particularly important for homes priced over $600,000.
Source: Keller Williams Realty Research Study
The Income Tax Effect from a Short Sale or Foreclosure: IRSForm 1099-C Who is Affected? Any property owner who was personally liable on a real estate loan that was foreclosed or partially paid off in a short sale. When Will the 1099-C Be Issued? Unless the lender is pursuing a deficiency judgment, the 1099-C must be issued by January 31st. If the lender sends the 1099-C, the lender has written off the loss as a bad debt. What is IRS Form 1099-C? This form represents ordinary income (not capital gain) for the ";Cancellation of Debt"; of the seller/owner. The amount must be included in income on the seller's income tax return. How is the Amount on the 1099-C Determined? Short Sale: the difference between the full payoff and the short sale payoff Foreclosure: the difference between the full payoff and the fair market value, based on an appraisal at the time of foreclosure. Does the Seller Have Any Offsets Against This Income? Sale of principal residence (IRS FORM 982): subject to some limitations on amount and qualifying debt. Capital loss: seller's capital loss (for investment property) can be used to offset capital gains and a small portion of ordinary income. Insolvency: income can be offset to the extent that debts exceed assets. Bankruptcy: depending on when it occurred and whether the debt was included. Be sure to consult your income tax preparer! Atlanta Real Estate Agency- owner of www.atlantamyhome.com, www.realestate-home.com, www.atlanta-green.com, as well as our newer domains where you can search Atlanta real estate, Atlanta homes for sale, Atlanta condos, Atlanta Townhomes for sale, Atlanta luxury homes for sale, New homes for sale, Sandy Springs (www.atlantanewhomesforsale.com) and Atlanta area, www.atlantarealestaters.com, www.byziprealty.com, www.byziprealty.net, www.byziprealty.info, www.byziprealty.org, search real estate by zip codeor by schoolwww.townsquarerealestate.com, www.townsquarerealestate.info, Atlanta metro area homes, land, lots, farms, commercial real estateatlanta-realestate-homes.com, metro Atlanta homes, metroatlanta-homesforsale.com.
My Short Resume
Ten years architectural design and marketing for major national builders Five years Real Estate investment specializing in Atlanta historic neighborhoods Real Estate agent (Realtor) for Keller Williams Realty. More on My Google Profile
Atlanta Real Estate Listings
Atlanta Buyers Agent services
• Free exclusive buyer representation from offer &; negotiation to closing
• Analyze the market based on your wish list for best possible deal
• Performance guarantee (I benefit only if you benefit)
• One stop shopping center (Refer &; Coordinate financing, inspection, insurance, attorney etc.)
• $8000 First Time Home Buyer Credit for first time home buyers and $6500 expended tax credit
Atlanta Listing Agent services
• Combination of strategy, market knowledge and marketing tactics to sell your home ASAP
• Assist in de-cluttering and de-personalizing to achieve clean look and quick sale
• Furniture placement assistance to utilize space and create desired mood
• Help with existing décor and arrangement to make things as visually pleasing as possible
Atlanta Real Estate Investors
• Help with buying money makers (Make money when you buy not when you sell)
• Free field work for new investors (budget, price, buyer profile &; final product)
• Out of state investors assistance (Buy, oversee restoration sell or rent)
Mission Statement
My primary goal is to put qualified buyers and the sellers together. My Atlanta Real Estate Web Site I believe buyers have to be qualified and ready to buy and the first impression of the seller home is a must (wow factor). If you can't afford to physically increase the size of your home, you need to do everything possible to make it look visually bigger, so my real estate expertise is invaluable at this step. The condition of your home will affect how quick it sells and the price the buyer is willing to offer. To put it simply, I know not only what sells but also how to achieve the desired results your home needs in order to bring qualified buyers to your door step. You need someone who knows the market, who represents your home with the prestige it deserves. You deserve someone who will go above and beyond in a tough real estate market, someone who will place your home at the forefront of the competition. www.realestate-home.com
RENT VS. BUY HOME IN ATLANTA
COST OF NOT BUYING A HOME NOW - ATLANTA REAL ESTATE MARKET
1) Home Rent Lost
Property Rent = $1,200/MO The average person takes 30 days to buy. If you wait 6 months, you will pay you landlord.................... $6,000
2) Interest Rate Change
If today's Interest rate is 5.5% on a 30 Year fixed rate mortgage, assuming a $200,000 home sales price with 5% down: Your payment will be....$1,073 per month...
The following shows what happens to your mortgage payment if your interest rate goes up by the time you buy (in ½% increments)
Rate.......Pmt...Loss/mo...Cost/YR...Cost 7/YRs....Cost 30/YRs
6.0%....$1,133....$60.......$720........$5,040.........$21,600
6.5%....$1,194....$121.....$1,452.....$10,164........$43,560
7.0%....$1,256....$183.....$2,196.....$15,372........$65.880
This number you must look at from the long term picture (Real Estate is a Long Term Investment). If you wait 6 months to buy a home, it is possible (or even likely) that the Atlanta Interest rates will be up.5%. The cost/loss to you IS NOT $60 per month. The cost is $60 per month times however many months you own the Atlanta home. The average American owns a home 7 years, so that loss equals $5,040 (if you rent a home). If you keep this home as a rental property (a great idea especially for your first home and when rates are this low) then the loss is times 30 years, or $21,600. Of course if you look at it like a good financial planner would, your loss is not simply the $21,000 but it's that amount times the opportunity cost of lost interest had you invested that money yielding 5%-10% appreciation compounded annually. This of course multiplies the loss to 2 to 3 times the actual cash loss!!!!
3) Property Appreciation Lost (Assuming a $200,000 Home Price)
Appreciation.....Per Month.....6 Months......1 year
3%....................$500..........$3,000........$6,000
5%*..................$833..........$5,000........$10,000
6%...................$2,000........$6,000........$12,000
8%...................$1,333........$16,000......$32,000
10%.................$1,666........$20,000......$40,000
*Metro Atlanta Homes typically appreciates at an average rate of 4%-5% per year. Real Estate in Atlanta GA was predicted to appreciate 24% over the next 5 years (CNN.com ";Top 10 Places to buy-NOW";)
4) Tax deduction/interest write off
This is the trickiest of the calculations because everybody's tax situation is different, and the tax code is a tad bit complicated. But as a general rule, you can write off 100% of the interest portion of your payment. And if you didn't know, the interest portion is MOST of the MORTGAGE PAYMENT (for the first few years anyway)
For example: using the examples above, with a $1,073 per month mortgage payment ($190k loan @ 5.5%), the mortgage interest portion of the first payment is around $850 per month. So that's the write off that you will NOT be getting per month until you buy a Property. Most people buying this price home are in the 28% tax bracket plus 6% state. That means the actual cash loss is the monthly payment times your tax bracket. Let's say 33%. So in this example, you are losing $280 per month CASH in tax deduction that you are not receiving. That's not even taking in to account that writing off $10,200 per year ($850 times 12 months) would probably take you in to a lower tax bracket; consequently, you would pay taxes at a lower rate...... (again, I am not an accountant so, consult a CPA in Atlanta Area regarding your particular tax situation)
So,....Your ";lack of deduction loss"; is appx..... $250- $300 per month
SUMMARY: IF YOU WAIT 6 MONTHS TO BUY A HOME, YOU ARE LOSING BETWEEN $8,000 AND $15,000 IN THAT TIME ALONE! IF YOU MISS TODAYS INTEREST RATE, IT COULD COST ANOTHER $15,000 TO $100,000 MORE OVER THE LONG HAUL.
One last point: AFFORDABILITY and LIFESTYLE
I do not recommend ANYONE BUYING A HOME that they can not afford, or that will make them 'house-poor'. I recommend that you should be fairly conservative. This means add up your PITI (total mortgage payment with PROPERTY TAXES and HOMEOWNER INSURANCE added in) and your MORTGAGE payment should NOT be above 30% of your GROSS monthly income (before taxes) or your total monthly payment (Mortgage,credit cards, car payment etc.)should not be more than 39% of your gross.
Remember this, though: If you 'wait' to buy, that $200,000 home will most likely be $210,000 next year (5% appreciation). So the question you must ask is, ";Is my income going up 5% per year?"; If not then you will be able to afford LESS in a year than you can now.
**This is not intended as an earnings claim on purchasing REAL ESTATE PROPERTY. Past results are not in indication of future performance. Please consult your TAX ADVISOR or REAL ESTATE ATTORNEY in Atlanta Metro Area. (ask about the W-4 form). ww.bucheadrealtyassociates.com
Atlanta Real Estate Agency- owner of www.atlantamyhome.com, www.realestate-home.com, www.atlanta-green.com, as well as our newer domains where you can search Atlanta real estate, Atlanta homes for sale, Atlanta condos, Atlanta Townhomes for sale, Atlanta luxury homes for sale, New homes for sale, Sandy Springs (www.atlantanewhomesforsale.com) and Atlanta area, www.atlantarealestaters.com, www.byziprealty.com, www.byziprealty.net, www.byziprealty.info, www.byziprealty.org, search real estate by zip codeor by schoolwww.townsquarerealestate.com, www.townsquarerealestate.info, Atlanta metro area homes, land, lots, farms, commercial real estateatlanta-realestate-homes.com, metro Atlanta homes, metroatlanta-homesforsale.com.
TEN GREAT REASONS TO BUY A HOME
1. Quality of life –a home provides stability and security for you and your loved ones.
2. Pride of home ownership –it’s your personal haven and you’re your own landlord.
3. Historically low interest rates –around 5.5 percent in the U.S.
4. Tax Credit – U.S. government provides a special $8,000incentive for qualifying first-time buyers and $6500 for all others who qualify (check my web site for more info).
5. Appreciation potential –your home investment can grow in value.
6. Equity buildup and debt pay down –homeowners enjoy an average net worth of approximately $184,000 vs. $4,000 for renters.
7. Leverage –where else can you buy an investment of this magnitude with 5-10 percent down?
8. Tax deduction advantages –property tax and mortgage interest write-offs (in Canada, home owners gain a tax benefit upon selling).
9. Tax exemption – up to $500,000 per couple or $250,000 per person on sale of a primary residence in the United States (no tax upon sale in Canada).
10. The real cost of renting –at $800 per month, with the average 6 percent rental increase per year, you will pay $126,536 overa 10-year period buthave zero ownership of the property
Atlanta Real Estate Blog
Legal Tip: Now buyer can choose settlement agent when buying a Fannie Mae property
On October 12, 2009, California passed the Buyer's Choice Act (Assembly Bill 957), which says that any agency (usually a bank) selling a foreclosed property must let the buyer choose the closing services. The California bill requires the REO seller to provide a disclosure notice to the buyers informing them of their right to choose their own closing attorney or title company and lender.
Based on this new California law, the Federal National Mortgage Association (Fannie Mae) has changed the wording in their "Real Estate Purchase Addendum" to read:
"The closing shall be held at a place so designated and approved by the Purchaser. The Purchaser has the right to make an independent selection of their own attorney, settlement company, escrow company, title company and/or title insurance company in connection with closing."
Advice to realtors, buyers, and lenders:
If you want to choose your own closing attorney, remember to fill in your choice on the GAR contract and also where indicated as "Purchaser's Attorney" on the FNMA addendum.
The buyer's attorney will still coordinate the transaction, title clearance, and delivery of deeds and funds with an attorney representing FNMA. This process should not result in any additional expense to the buyer, and hopefully will provide many buyers and agents with the comfort and convenience of doing business with their own choice of attorney.
Neel & Robinson is Dedicated to Keeping You the Smartest Agent on the Block! To schedule your next closing, contact paralegal Connie Garmon at connie.garmon@neelandrobinson.com or call her at 404-705- 3991
Atlanta Real Estate Agency- owner of www.atlantamyhome.com, www.realestate-home.com, www.atlanta-green.com, as well as our newer domains where you can search Atlanta real estate, Atlanta homes for sale, Atlanta condos, Atlanta Townhomes for sale, Atlanta luxury homes for sale, New homes for sale, Sandy Springs (www.atlantanewhomesforsale.com) and Atlanta area, www.atlantarealestaters.com, www.byziprealty.com, www.byziprealty.net, www.byziprealty.info, www.byziprealty.org, search real estate by zip codeor by schoolwww.townsquarerealestate.com, www.townsquarerealestate.info, Atlanta metro area homes, land, lots, farms, commercial real estateatlanta-realestate-homes.com, metro Atlanta homes, metroatlanta-homesforsale.com.
Pam Robinson, Sr. Partner
Neel & Robinson Attorneys at Law, LLC
5555 Glenridge Connector, Suite 400
Atlanta, Georgia 30342
Office: 404- 459-9600 FAX: 404- 459-0704
Atlanta Homes for Sale,Atlanta Real Estate
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WHY KELLER WILLIAMS REALTY There is a reason more and more agents are making the change to Keller Williams Realty. Here's why it matters to you: Knowledge Powerful curriculum through Keller Williams University keeps us ahead of trends, tools and advancements in the real estate industry. Speed Leading-edge technology solutions accelerate our efficiency and productivity. Teamwork Contrary to other real estate companies, Keller Williams Realty was designed to reward agents for workingtogether – to serve clients better. Reliability Keller Williams Realty was founded on the principles of trust and honesty, emphasizing the importance of having the integrity to do the right thing and always putting the customers needs first. Success Keller Williams Realty is the fastest growing real estate company in North America. When you offer a superior level of service, the word spreads fast. As part of the Keller Williams Realty team, I look forward to providing you with a phenomenal real estate experience!
THIS MONTH IN REAL ESTATE December 2009Small steps to economic recovery continued last month. Among the positive readings was the report of a third quarter GDP growth rate of 2.8 percent, which followed four consecutive quarterly declines. This advance comes in well ahead of that of our Canadian neighbors, whose economy was once anticipated to be the first country out of recession, and by significant margin. Canada posted marginal 0.4 percent growth. Unemployment fell in November for the first time since April 2008. A strong rebound in home sales activity from year ago levels also points to a firmer stabilization. With the extension of the $8,000 federal housing tax credit into spring 2010, first-time buyers will now have an additional few months to purchase their dream homes. Expansion of the income restrictions now gives possibilities for higher earners to participate too. And the $6,500 tax credit now available to established homeowners with five consecutive years or more in their homes broadens the opportunity landscape. This in turn will allow the housing market more time to find a more solid footing on a sustainable recovery. Although economists continue to debate the overall shape of the recovery, it is widely agreed that the U.S. economy will take a long time to rebound. Unemployment is expected to remain high for several quarters and the number of underemployed is expected by some economists to remain a drag on growth prospects. On the brighter side, according to some economists, a slow and steady growth will likely fair better for the long-term well-being of the economy. Slower, sustained growth can help prevent dangerous asset bubbles, like the recent housing and technology bubbles, from growing and bursting.
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This is What We Stand For
W Win/Win .......... or no deal I Integrity .......... do the right thing 4C Customers ........ always comes firstCommitment ...... in all thingsCommunication ... seek first to understandCreativity ............ ideas before results 2T Teamwork ... together everyone achieves moreTrust ........... begins with honesty S Success ........ results through people
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