$1,800 Tax Credit Available for Georgia Homebuyers provides for an $1,800 tax credit for homebuyers in Georgia.      Unlike the federal tax credit, the Georgia credit is not limited to first-time homebuyers, and there are no applicable income limits. The credit is only available to buyers of eligible single family residences who close between June 1 and November 30 of this year. 1. Is this tax credit limited to first time homebuyers? NO, all purchasers of an eligible single family residence in Georgia that file a Georgia income tax return can claim the credit. 2. Can the Georgia credit be combined with the federal $8,000 first time homebuyer tax credit? YES, if buyers meet the qualification for each credit they may claim both. Each credit operates independently from the other. One is c... 06/11/2009

HUD Announces Guidance on FHA Loans for First-Time Home Buyer Tax Credit05/29/2009 Consumers across the country can now take advantage of a Federal Housing Administration program to allow qualified home buyers to apply the $8,000 tax credit when purchasing a home. FHA will now permit its lenders to provide a short-term bridge loan that will let qualified home buyers use the tax credit to either make a larger down payment above the FHA required 3.5 percent, cover closing costs or buy down their interest rate. The details of the program were announced Friday in Mortgagee Letter 2009-15. Mortgage industry leaders have indicated that these types of loans as outlined in the HUD guidance may not be immediately available to consumers. Lenders will need some time to develop documentation for wh... 06/11/2009

Will the Fed hike interest rates?  Given the economic downturn, an interest rate hike by the Federal Reserve (Fed) was unthinkable even a few weeks ago. But with yields on treasury bonds surging in the recent past, one wonders if the market is pricing a potential interest rate hike ahead of time. According to some economists, the lower than expected job loss in May is an indication that the economy is coming out of recession and a change in Fed's outlook is quite likely. "If the Fed is likely to tighten it could mean that growth outlook, profit outlook has gotten a little bit better," said Zach Pandl, an economist at Nomura Global Economics.  However, some feel that the Fed will not hike interest rates until unemployment drops. Quincy Krosby, chief investment strategist for The Hartford... 06/10/2009

According to the new legislation, a first time home buyer is defined as someone who has not owned a principle residence in the past three years.  Those three years are counted up to the date you take possession of the house you buy in 2009. This means that even if you've owned a home in the past, you can still take advantage of the tax credit as long as you haven't purchased a primary residence since 2006.The same goes for married tax payers - they must both be first time home buyers.  For non-married joint buyers, only one of them needs to be a first time home buyer, or someone who  hasn't owned a primary residence in the past three years.Qualifying homes include: New homes Homes that are being re-sold Condos Townhomes The main restriction is that the credit is only for those who buy a... 06/10/2009

Recent figures from the National Association of Realtors shows continued signs that the current market has bottomed and good things are ahead. Do not miss the chance to get a great deal on a home. The National Association of Realtors said pending home sales rose from February to March as buyers took advantage of deeply discounted prices and low interest rates. In the home sales report, the NAR said its seasonally adjusted index of pending sales for previously occupied homes rose 3.2% to 84.6 in March. The index was 1.1% above last year's levels and has risen two straight months after hitting a record low in January. The index, which started in 2001, tracks signed contracts to buy previously owned homes. Typically there is a one- to two-month lag between a contract and a done deal, so th... 05/19/2009

Georgia Housing Tax Credit Bill  May 14th, 2009 Categories: Buford, Dacula, Duluth, Financing, Gwinnett, Hamilton Mill, Hoschton, Lake Lanier, Lawrenceville, Lilburn, Norcross, Real Estate Business, Snellville, Sugar Hill Today, House Bill 261 was signed by Governor Sonny Perdue. This bill provides an $1800 tax credit which would be taken over three years. This bill is immediately in effect and is meant to spur the housing market. The amount of the credit will either be $1800 or 1.2 percent of the purchase price (whichever is less). If you are a first time home buyer, this tax credit would be in addition to the $8000 federal credit. Eligible properties include single family residences including condos, previously occupied homes that were listed for sale before May 11, 2009 and are still... 05/19/2009

Check Your Deck MAY IS DECK SAFETY MONTH -  Is Your Deck Safe?  In an effort to save lives and prevent injuries, the North American Deck and Railing Association, Inc. (NADRA) declared May as Deck Safety Month in 2006. Now in its third year, the Deck Safety Month program helps increase public awareness of the necessity for regular inspection and maintenance of existing decks, and proper installation of new decks.   The number of deck failures and resulting injuries has been increasing at an alarming rate. Between 2000 and 2006, there have been at least 30 deaths reported as a direct result of deck collapses .More than 75 percent of people on a deck when it collapses are injured and some are killed, illuminating just how important it is for homeowners to check their deck. There are now an... 05/19/2009

Lets face it if it quacks like a duck and walks like a duck there is no way your going to get your client to think it is a horse. I see more and more brokers / agents / company's trying  to slide in these so called Broker Fees on to the HUD. I guess when times get tight pass along the cost to the last guy on the list. I am glad the courts see this for what it is, just a charge some agents add on without offering added services, and don't tell me your in office is an added service, it is a choice you the agent made on how you were going to set up your bussiness team. Fee Charged by Brokerage Violates RESPA A federal appellate court has evaluated whether a transaction fee that a brokerage firm charged violated RESPA. To read an analysis of the opinion from NAR's General Counsel, click her... 05/18/2009

Had me a mid day play date  yesterday and it was great, Started with a special lunch at our favorite restaurant (MCD'S) followed by a afternoon at the park (Monkey Bars Rock--still) then cuddled up watching a great movie (H.S Musical 3)...I have to say it was the best day in a very long time ..My lttle neice is really becoming her own person and I am so glad I took time out to be with her yesterday... The results of long day ... so more on some then others 05/16/2009

Tips for Showing Your Home •1.            KEEP YOUR HOME SPARKLING CLEAN.  This is the single most important thing you can do to improve a potential buyer's impression of your home.  A clean home not only is esthetically pleasing, but also creates the impression that you have taken pride in your home and therefore have kept it properly maintained.  Make sure that all tubs, toilets, and counter tops are clean.  Empty the dishwasher and sink.  Keep the floors clean.  Put laundry up or in the washer or dryer. •2.            ELIMINATE ODORS.  Do not smoke in your house, including your garage or basement.  Keep all trashcans and waste baskets clean.  Avoid cooking foods such as fish, liver or strongly seasoned foods within a few hours of showing your home.  Open windows whenever possible to ... 05/13/2009

What I learned this morning on YOU TUBE... It is not about Talent it is not about opportunity it is about believing in yourself. As I kid we heard it over and over... we are all special, God made you special... that's talent, opportunity we each have a 100 moments from the time our feet hit the floor in the morning till the end of that first cup of coffee to change our lives, our families lives heck the world. It is when you say to yourself alone one night driving pizza delivery.. "I can do it"... not "maybe do it" not "give it a try" but that deep voice that say "I can". It is then that you waken something so much great then Talent inside yourself. Something so much rarer then opportunity that "I can" moment is when you awaken TRUE FAITH. Not the ego driven I can do anything faith... b... 05/12/2009

Look OUt Susan Boyle - you now have competion This "male soprano" was a whole lot prettier than Susan Boyle (no "makeover" necessary here)...AND his voice was about, um, 18 octaves shriller! He in fact possessed a higher-pitched tone than even Britain's Got Talent's pre-pubescent singing ballerina, Hollie Steel. Greg Pritchard: 'Britain's Got Talent' Reaches New Heights 05/12/2009

On May 1, 2009 all loans that are insured or purchased by Fannie Mae and Freddie Mac must be certified that they followed the rules set forth in the Home Valuation Code of Conduct (HVCC)  This means all  appraisals need to be ordered via a third-party appraisal management group which then places the actual appraisal request with an appraiser on our approved appraiser list. Unlike many lenders, we chose a local appraisal management group instead of using one of the national firms.  We believe we get better service and better quality appraisals by using a local appraisal management group.   Because the HVCC only applies to Fannie Mae and Freddic Mac loans, all still order appraisals for FHA loans directly with the appraiser.  VA appraisers are chosen by the VA.   05/11/2009

Getting the House Ready to Sell  If there is a new home sales subdivison near your home, go visit. It doesn't matter what size the homes are. What you will find are some wonderfully (but sparsely) furnished homes that anyone could live in -- with the emphasis on "anyone." They are anonymous. There may be a baseball glove in the boy's room, but no family photos on the walls. There may be "personality" - but no person. The reason you want to make your home "anonymous" is because you want buyers to view it as their potential home. When a potential homebuyer sees your family photos hanging on the wall, it puts your own brand on the home and momentarily shatters their illusions about living in the house themselves. Put away family photos, sports trophies, collectible items, knick-knacks, and... 05/10/2009

Getting Your House Ready to Sell  Step 1 When conversing with real estate agents, you will often find that when they talk to you about buying real estate, they will refer to your purchase as a "home." Yet if you are selling property, they will often refer to it as a "house." There is a reason for this. Buying real estate is often an emotional decision, but when selling real estate you need to remove emotion from the equation. You need to think of your house as a marketable commodity. Property. Real estate. Your goal is to get others to see it as their potential home, not yours. If you do not consciously make this decision, you can inadvertently create a situation where it takes longer to sell your property. The first step in getting your home ready to sell is to "de-personalize" it. 05/10/2009

The First Mother's Day May 9, 1914 Think of all the work that mothers do in raising their children. Mothers need to be celebrated! President Woodrow Wilson realized this on May 9, 1914, proclaiming the first Mother's Day. He asked Americans on that day to give a public "thank you" to their mothers and all mothers. What do you do for your mother on Mother's Day Anna Jarvis of Philadelphia wanted to remember her own mother along with all mothers. Anna's mother had been very active in working to improve the health of people in her community. Jarvis's mother also organized a Mother's Friendship event in her community to bring confederate and union soldiers together for a peaceful celebration. Many other women such as Julia Ward Howe, Elizabeth Cady Stanton and Elizabeth Smith also fought fo... 05/10/2009

What is a deed in lieu of foreclosure?  A deed in lieu of foreclosure is a transaction in which an owner in default, and about to be foreclosed, grants ownership of the property to the lender, as payment for the debt. The value of the property serves as debt payoff. As such, the owner no longer owes anything to the lender.  In this type of transaction, the owner satisfies the debt to the lender by deeding the property instead of by foreclosure. Instead of exercising foreclosure, the lender gets the property deed. Thus, the term "deed in lieu of foreclosure".  Another name for "deed in lieu of foreclosure" is "estoppel deed" or "deed by estoppel". Estoppel is a legal term. In an estoppel, a previously taken action precludes other present or future actions. Once having a estoppel deed, th... 05/09/2009

If you owe more for your house than what it is worth you only have a few home selling options, one of which is losing your home to foreclosure. To avoid a foreclosure you can sell your house as a short sale. A short sale is selling your home at a price that is less than what you owe the bank. Thus the funds at the closing table are short of your payoff.  Usually only experienced real estate investors and a very small number of real estate agents know how to complete a successful short sale. The key is to find a buyer for your home or a real estate investor. The buyer or real estate investor will negotiate with the bank to accept less than what you owe them. Some banks will accept a short sale because they do not have to foreclosure on the property, thus saving them money. Before the new... 05/09/2009

Mortgage Checklist The following information is usually required during the loan process. Identification: •·              Your Social Security number Assets: •·              Bank statements for past two months •·              Investment account statements for past two months •·              Life insurance policy •·              Retirement account statements for past two months •·              Make/model of vehicles you own along with their resale value Liabilities: •·              Credit card account information, including balance and monthly payment •·              Auto loan account information, including balance and monthly payment •·              Personal loan account information, including balance and monthly payment Incomes: •·              Current pay stubs and W2, or if self emp... 05/09/2009

March 10, 2009 Michael J. Fox to Host Television Special on Optimism Tune in to ABC on Thursday, May 7, at 10 p.m. for Michael J. Fox's inspiring and entertaining hour-long special on the power of hope and optimism: "Michael J. Fox: Adventures of an Incurable Optimist," in which he travels across the globe from President Obama's inauguration to the heights of the Himalayas, interviewing famous and everyday people - including doctors and scientists - on the nature and enduring strength of optimism.     Tune in to ABC tonight at 10 p.m. for Michael J. Fox: Adventures of an Incurable Optimist 05/07/2009