Loganville, Dacula and Bethlehem Real Estate - The Rains Team

Good news potential home buyers!! The first time home buyer tax credit has been extended into 2010 and now there’s even a tax credit for those current home owners looking to purchase a home as well!

First Time Home Buyer Extended Tax Credit Basics:

• The $8,000 tax credit has been extended until April 30, 2010. As long as you have a written, binding contract in force by that date you have until July 1, 2010 to close.

• You will not have to repay this credit as long as you live in the home as your primary residence for three years or more.

• Eligible properties include single-family homes, condos, town homes and co-ops.

• You qualify as a first time home buyer if you or your spouse has not owned a home during the previous three years.

• Income limits have been increased: single buyers are now eligible with income limits of up to $125,000 and married couples are eligible with income limits up to $225,000

• This extension was put into effect on November 7, 2009

Current Home Owner Tax Credit Basics:

• Current home owners can get a credit of up to $6,500 when they sell their primary residence and purchase another home during the November 7, 2009 to April 30, 2010 time frame

• You qualify to get the credit if you’ve used the home being sold as your principal residence for five consecutive years within the last eight

• The other factors such as which homes qualify, whether or not you have to repay the credit and the income limits are the same as the first time home buyer tax credit.

Now it’s a great time to buy in Georgia whether you’re a first time home buyer or one who’s lived in your home for at least five consecutive years. I would love to help you buy a new home or sell your current one! If you are in the market to buy or sell your home in the Bethlehem or Dacula area, I would be happy to assist you! My passion is helping people find their dream home and stepping them through this exciting journey. I serve the Walton, Barrow and Gwinnett county areas. Call or text me today: 404.357.2231!

(Please note, information in this post was obtained from the article written by the National Association of REALTORS and can be found at this link: The Extended Home Buyer Tax Credit.)

Also, if you have specific questions as to how this tax credit pertains to you or if you want more details please contact the Internal Revenue Service at 800.829.1040

Last week I helped another home buyer successfully purchase their first home. It was a great little home perfect for their needs and I’m very excited and happy for him. I know that it’ll be a place where he’ll create many happy memories. In addition…I’m thrilled that he purchased it in time to receive the $8,000 tax credit! I can only imagine how happy he’ll be when he receives that awesome check in the mail.

If you’re considering purchasing a home, now’s the time…especially if you’re a first-time home buyer! I would be honored to help you through the very important and sometimes overwhelming home buying process. Please don’t hesitate to contact me!

 Natural beauty surrounds you in this distinctive custom home. The approximately 5,000 square foot home is situated on 84 gorgeous acres.

The home has a custom gourmet kitchen featuring granite countertops, Lyptus hardwood cabinets (a Brazilian wood) and stainless steel appliances. In addition to the oven in the kitchen, there are 2 more ovens around the corner in the laundry room…perfect for easily preparing the Thankgsiving meal or entertaining friends.

This beautiful and elegant dining room can comfortably seat 14 people at the table. There’s also plenty of room for a sofa and two chairs on one side of the room and a large sideboard on the other side. The hand-painted mural was done by a local artist and really adds a unique touch to the room. The large, gorgeous chandelier is over 100 years old and is originally from a department store in Salt Lake City.

Come relax for a while in this comfy screened-in patio adjacent to the kitchen and family room. Cozy up to the stacked-stone fireplace during the winter months or just enjoy the view of the woods…you may even spot a turkey or deer! It’s the perfect little spot to savor your morning coffee.

This hand-carpentered study is made entirely of birch wood and features a custom-designed stained glass window. The built-in shelving and cabinets provide plenty of storage space for your books and other memorabilia. It makes an elegant office or a great place to relax with a book.

Upstairs, the veranda is spacious and offers a peaceful place to cuddle up and enjoy the day. It overlooks the four horse pastures and provides a beautiful place to take in some sunshine and fresh air.

 You’ll think you’re at a 5 star resort when relaxing by this heated saltwater pool. It’s designed like a lagoon and is surrounded by professional landscaping. The guest house is fully complete with a kitchen, living room, bedroom, full bath, changing room and pool equipment storage room.

This property truly has it all! It also includes a barn with 6 horse stalls, a complete apartment for living quarters, hay loft, tack and feed room and more. There are also four fenced horse pastures. Beautiful upland woods with food plots throughout to attract wildlife. 1,000 feet of river front property on the Flint River, an old wooden train trestle on the back corner of the land and the property backs up to a 600 acre farm. Whatever you’re looking for, I’m sure you could find it here!

Listed at: $1,650,000. Don’t Miss This Opportunity!

Also, be sure to view the virtual tour; it really shows off the amazing features of this estate.

Click to watch the Virtual Tour

I work with a lot of first-time home buyers, you may be one of them, and I’m asked all the time what is involved with getting pre-qualified for a home loan. To be honest I didn’t have all the answers, so I interviewed the loan officer that I trust the most, Kurt Owen from BB&T’s Covington, Georgia branch. Here’s what he has to say on this topic:

1. What documents do people need to get pre-qualified? For a pre-qualification, it is helpful to have your most recent paystub, bank statements, W-2, and tax returns available. Though no documents are actually collected at this stage, it will help you be more accurate with the lender, which in turn will give them a better idea of what you can qualify for.

2. What are the basic requirements for obtaining a loan? I’ve always heard you must hold the same job for at least two years, is that true? Requirements vary from loan to loan, but 2 years in the same line of work is preferred. It is not a requirement, though, unless they are self employed, commission paid, or paid with a 1099.

3. What kind of questions do you ask people? Normally, to take a pre-qualification, I ask for: Names, birthdates, social security numbers, address history (2 years), contact numbers, work history (2 years) including addresses phone and pay, family information (married/single/divorced, kids, how many), Asset information (checking, savings, retirement, other), and what they are looking for as a payment. Then, based on the answers given, I may ask follow up questions that could range from child support to gift information for the down payment.

4. Once you’re pre-qualified, how long are you approved for? It is important to know that a prequalification is not an approval or even a pre-approval. Pre-qualifications are based on verbal information only, do not set an interest rate, and are not underwritten. However, most major roadblocks can be identified through a prequalification, and they are normally accepted by most agents as an indication that the borrower they are dealing with is, barring an unexpected issue, probably able to obtain financing. For the most part, any lender can issue a prequalification without much of a problem, but it could have many “holes” in it. A true pre-approval means that documents are collected just like an application, and the loan is approved “subject to” an appraisal and identified property.

5. Is there anything else you would like to add to explain how this process works? Most prequalification’s can be taken over the phone or in person in about 30 minutes, but leave more time available so that you can ask questions. You should have a response in 24-48 hours after applying for a prequalification, though you should ask the lender for a time estimate. Always tell the lender how much you are comfortable spending and have your prequalification based on that number.

Here’s a little information about Kurt so you can get to know him better:

The $1,800 tax credit is only available for six months; you must close on a home between June 1 and November 30, 2009 to receive this credit. Here are the other important details:

• AMOUNT: the credit is equal to either 1.2% of the purchase price or $1,800, whichever is lesser
• WHO QUALIFIES: this credit is for ANYONE purchasing a home between the deadline–NOT just first-time home buyers!
• HOW DO YOU RECEIVE IT?: You may claim one-third of the credit available in each taxable year, and may carry forward unclaimed amounts–essentially, you’ll receive this credit over the course of the next 3 years

Also, there aren’t any income restraints to this credit and as I mentioned before, this is not limited to just first-time home buyers. You just have to buy a single-family property within the time period.

Representative Ron Stephens said this about the bill: “I’m proud of Governor Purdue for signing this legislation, and I’m proud to have brought it before the state legislature. This bill will put people to work, reduce the inventory of unsold homes, and kick start Georgia’s economy.”

To determine the specific forms you need to use to obtain this credit, please contact your tax professional.

If you are a first-time home buyer and would like to learn more about the $8,000 federal tax credit, please read this article:
Understanding the New $8,000 First-Time Home Buyer Tax Credit

It’s a great time to buy a home in Georgia, whether you’re a first-time home buyer or not, and I would love to walk you through this process. If you are in the market to buy or sell your home in the Bethlehem or Dacula area, I would be happy to assist you! My passion is helping people find their dream home and stepping them through this exciting journey. I serve the Walton, Barrow and Gwinnett county areas. Call or text me today!

(The information from this post was obtained from this article)

Having a great home inspector is a key part of purchasing a home–someone who doesn’t know what they are doing could overlook a major problem with the home that may lead to some very costly fixes down the road. You definitely want someone with a lot of experience and an attention to detail.

Today I went out on a limb and tried a different inspector than I normally use; however, not without doing my homework first though! About a month ago I received an e-mail from Mark Watkins, a home inspector in my area looking for more agents to work with. He included his prices in the e-mail and they were cheaper than the inspector I was currently using so I became intrigued.

I did some research: I replied to the e-mail asking him how long he’d been in the business and if he had some referrals I could look at. He got back to me right away with an overwhelming list of 87 REALTOR names and contact information that are currently using his services. He has been doing inspections since February 2007 and prior to that he was a real estate agent for 11 years! Previous to his real estate career, he also owned a remodeling company. He’s completed over 743 inspections. It definitely seemed to me he had plenty of credentials and was worth trying out.

This morning’s inspection went very well! Mark was very thorough in doing his job and anytime he found even the tiniest thing wrong he would show it to my client and explain how to fix it. Also, as he was going through the home he taught my client how to take care of their home and maintain it–such as what knob to turn off before the first freeze of the fall and how often they should change out their air filters. I thought this was especially helpful since my client is a first-time home buyer.

His report was ready within two hours after the inspection and sitting in my e-mail box when I returned home from being out and about! It is very simple to read and easy to understand exactly what’s wrong because he highlights the problems with photos.

• Up to $250,000 the price is $275. Add $25 if on a basement or a crawl space.
• $250,001 to $350,000 the price is $300. Add $25 if on a basement or a crawl space.
• $350,001 to $450,000 the price is $335. Add $25 if on a basement or a crawl space.
• $450,001 to $550,000 the price is $375. Add $25 if on a basement or a crawl space.
• $550,001 to $700,000 the price is $425. Add $35 if on a basement or a crawl space.
• $700,001 to $800,000 the price is $450. Add $35 if on a basement or a crawl space.
• $800,001 to $1 million the price is $500. Add $50 if on a basement or a crawl space.

He also has special prices on Town Houses and Condos.

If you need a home inspector that you can trust, I would call Mark Watkins. 770-527-1865

If you are in the market to buy or sell your home in the Bethlehem or Dacula area, I would be happy to assist you! My passion is helping people find their dream home and stepping them through this exciting journey. I serve the Walton, Barrow and Gwinnett county areas. Call or text me today!

On Thursday night, over 6,000 churches hosted Dave Ramsey’s Town Hall for Hope live simulcast and over 1 million Americans heard what he had to say. Not familiar with Dave? He’s a financial expert and a Christian, which I love because what he teaches about your finances are biblically based.

He said a lot of great things last week and he really conveyed that the economy is not as bad as what the media is trying to portray. One of the best quotes of the night was: “Credit cards are snakes. If you play with snakes, you’re going to get bit.” Dave doesn’t even own a credit card because he doesn’t feel that the credit card companies play fair. He only advises using them if you can pay them in full each month! Now, I know that for a lot of Americans credit cards are a way of life, but can you imagine if you never used a credit card again how much money you would save?! Not only would you be keeping all that interest that you would accrue to yourself, but statistics also show that Americans who pay with credit cards typically spend 26% more than Americans who don’t use them. Ponder that for a little bit.

Another important thing he said was that “Failure will run you into excellence. Without fear of failure you cannot be your best.” I think this is also great; we shouldn’t let our fear of failure paralyze us from doing anything but instead use that fear to do our best. And if we should fail that will only make us want to pick up the pieces and try again. A lot of the wealthiest people have been millionaires only to become bankrupt and then they go out and work harder and accomplish even greater wealth than before.

Dave claimed we need to learn two things: 1. SAY NO! and 2. Take personal responsibility that you caused this mess. He says we need to learn how to say no again–we live in a society that says yes to everything and no to nothing, but that must change if we’re going to get in control of our finances. We need to learn to say “yes that was my fault” instead of whining about it.

I’m also very happy to inform you that Dave believes the housing industry is going to lead us out of this recession. He stated that because of interest rates being the lowest they have been in years, it’s a wonderful time to buy a home. If you have extra money he also recommends investing in property as well. And he wants everyone to quit believing the media when they talk about foreclosures running rampant in this nation; did you know that 60% of the foreclosures come from only 5 of our states. And that 50% of foreclosures are in 35 counties. This shows us that foreclosures are highly localized. So, if you can afford it, this is definitely the year to buy a home!

And finally, here’s a three step action plan that we should follow:

1. Get up and TAKE ACTION! Don’t just sit on your couch watching Oprah re-runs wishing you made more money or the country wasn’t in this recession (This is not even the worst recession we’ve ever had, did you know that?) Be proactive and think creatively on ways to earn more money.

2. Don’t participate in LOSER TALK! Don’t believe everything you hear on the media and if the news is getting you down, just don’t listen to it. Think positively and when others are talking negatively walk away or find something good to say.

3. We need to learn to give again. Americans need to learn how to be generous again with both their time and money. Money really tight? Don’t worry, find ways to give back to your community–maybe help serve in a soup kitchen or volunteer to read to elderly people in a retirement home. Doing things to help others will help get your mind off your problems, put things into perspective (things could be worse) and will be a blessing to you.

Lastly, his parting words were: HOPE comes from you, me, and God–NOT Washington!!

If you would like more information, Dave Ramsey has a whole website devoted to Town Hall for Hope. Also, he’s a wonderful financial advisor and has written a great book: Total Money Makeover that I would highly recommend. He teaches people how to get out of debt and to live a debt-free lifestyle. His motto is “Live like no one else, so one day you can LIVE like no one else.”

Town Hall for Hope Website

Dave Ramsey’s Website

I hope this information has helped you! If you are in the market to buy or sell your home in the Bethlehem or Dacula area, I would be happy to assist you! My passion is helping people find their dream home and stepping them through this exciting journey. I serve the Walton, Barrow and Gwinnett county areas. Call or text me today!

I get asked this question all the time:

SHOULD I PAY OFF MY CAR BEFORE I PURCHASE A HOME?

Well, I must say, I have a pretty specific answer to this…watch my video to find out

If you are in the market to buy or sell your home in the Bethlehem or Dacula area, I would be happy to assist you! My passion is helping people find their dream home and stepping them through this exciting journey. I serve the Walton, Barrow and Gwinnett county areas. Call or text me today!

Tonight Matt and I met our current buyer couple at Outback Steakhouse for a nice meal and to sign the latest revision of their contract and discuss the different tasks that need to be completed before closing happens later this month. It was a fun night for many reasons…for 1. we got some business accomplished–always a plus!, 2. we had a great time talking and getting to know our buyers even more and 3. I had the great advantage of not having to cook tonight…although, as most of you know, I really enjoy cooking–but it’s always nice to have a night off now and again! Of course, I should have chosen my food more wisely–the cheesy bacon fries looked AMAZING and I’ve been craving them everytime I see a commercial for Outback, yep, you guessed it, I ordered them as my meal…I know that makes me sound like a pig for getting it as my entree; however, I did order the half portion (still HUGE) and only ate about half of that…still, my tummy is wishing I had just gotten a salad! Anyways, it was a fun night and we enjoyed taking our clients out to dinner! Only a few things have to be lined up and we’ll be all set for our next closing…

If you are in the market to buy a home, we’d be happy to help you! This year is the perfect time to buy! Low interest rates and an $8,000 tax credit for first-time home buyers!

As you all know, the real estate market today is a buyer’s market–there are so many houses for sale these days that buyers have a huge selection of homes to pick from. And with so many foreclosures happening everyday, buyers have the opportunity to get a great deal.

I really enjoy working with buyers because I find it a lot of fun helping people find their dream home! It is so neat to walk through a house with someone and see them falling in love with it…and then they start talking about what they are going to do to make the home feel like their own–discussing paint colors, new floors and furniture. All of that is right up my alley because I enjoy decorating so I have a great time hearing the changes they would like to make.

Don’t get me wrong, I like listing homes and helping people get theirs sold, but currently, the market is so flooded with homes for sale, that many sellers get so frustrated and don’t have the patience needed to sell their home. With buyers the process is a bit more simple; in fact, the other day we showed a couple five or six homes and they narrowed it down to a top two–from there we put an offer in on their number one–it was accepted and now we have a closing coming up in a few weeks…it was quick and simple.

When we help people find their future home, we take many things into consideration–we calculate how far their work will be, show them where they will grocery shop, ask them if they like the school system, etc…the point is, we want you to like all aspects of your new home and the community it is in.

So, the question is…Are you ready to buy a home? If so, contact us today!