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

3. Be aware that large electronic files with attachments or lengthy faxes may be a burden on recipients.

4. Notify the listing broker if there appears to be inaccurate information on the listing.

5. Share important information about a property, including the presence of pets; security systems; and whether sellers will be present during the showing.

6. Show courtesy, trust and respect to other real estate professionals.

7. Avoid the inappropriate use of endearments or other denigrating language.

8. Do not prospect at other REALTORS open houses or similar events.

9. Return keys promptly.

10. Carefully replace keys in the lockbox after showings.

11. To be successful in the business, mutual respect is essential.

12. Real estate is a reputation business. What you do today may affect your reputation - and business - for years to come.

In the first part of this short series I explained what the Georgia property taxes are based on, how the assessed value is determined and what a millage rate is. Today I’m going to discuss the homestead exemption and how to appeal tax assessments.

If you want to catch up on the first part, click the link: All About Georgia Property Taxes: Part 1

If you are a Georgia homeowner, especially a first-time home owner, you may be curious to learn more about the property taxes you’re required to pay. In this first part, I’ll explain some general information about Georgia property taxes, how the valuation and assessment process works and what a millage rate is.

1. Be responsible for everyone you allow to enter listed property.




2. Never allow buyers to enter listed property unaccompanied.




3. When showing property, keep all members of the group together.




4. Never allow unaccompanied access to property without permission.




5. Enter property only with permission even if you have a lockbox key or combination.




6. When the occupant is absent, leave the property as you found it (lights, heating, cooling, drapes, etc). If you think something is amiss (e.g. vandalism) contact the listing broker immediately.




7. Be considerate of the seller’s property. Do not allow anyone to eat, drink, smoke, dispose of trash, use bathing or sleeping facilities, or bring pets. Leave the house as you found it unless instructed otherwise.




8. Use sidewalks; if weather is bad, take off shoes and boots inside property.

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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: 404.357.2231!

The following are some professional courtesies that every REALTOR should strive for. Using good manners is important in this business that is built on relationships. These 21 suggestions are all ways that show respect for the public.

1. Follow the “Golden Rule” - Do unto others as you would have them do unto you.
2. Respond promptly to inquiries and requests for information.
3. Schedule appointments and showings as far in advance as possible.
4. Call if you are delayed or must cancel an appointment or showing.
5. If a prospective buyer decides not to view an occupied home, promptly explain the situation to the listing broker or the occupant.
6. Communicate with all parties in a timely fashion.
7. When entering a property, ensure that unexpected situations, such as pets, are handled appropriately.
8. Leave your business card if not prohibited by local rules.
9. Never criticize property in the presence of the occupant.
10. Inform occupants that you are leaving after showings.
11. When showing an occupied home, always ring the doorbell or knock - and announce yourself loudly - before entering. Knock and announce yourself loudly before entering any closed room.
12. Present a professional appearance at all times; dress appropriately and drive a clean car.
13. If occupants are home during showings, ask their permission before using the telephone or bathroom.
14. Encourage the clients of other brokers to direct questions to their agent or representative.
15. Communicate clearly; don’t use jargon or slang that may not be readily understood.
16. Be aware of and respect cultural differences.
17. Show courtesy and respect to everyone.
18. Be aware of - and meet - all deadlines.
19. Promise only what you can deliver - and keep your promises.
20. Identify your REALTOR® and your professional status in contacts with the public.
21. Do not tell people what you think - tell them what you know.

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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: 404.357.2231!

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)

My office is cluttered and unorganized, which absolutely drives me crazy. So, last night I decided to start tackling this huge project…not to point fingers here, but it’s mostly my hubby’s mess that I’m trying to sort through. However, I did go through all the files in my desk and found a lot of things I didn’t need.

What does this have to do with saving money you may ask? Well, I found a magazine dated July 2008 that caught my eye–one of the headline stories was “Easy Tips to Save $1,000’s“–I knew I had kept this for a reason! Today I’ll share the tips on saving money through your mortgage, your bank or credit cards.

For previous articles of how to save money, click on the following links:

Simple Tips on How to Slash Your Grocery Bill

“If You Play With Snakes You’re Gonna Get Bit”

MORTGAGE TIPS:

* PAY THE POINTS: With most home loans, the biggest expense is the interest. One of the best ways to lower that expense is through the wise use of discount points–upfront fee paid to the lender. One discount point equals 1 percent of the loan amount. Generally, the more discount points you pay up front, the lower the interest rate. This is also known as “buying down the loan.” A good rule of thumb: If you can recoup the cost of the points within the first 2 years through the lower monthly payments, go for the points.

• Example: You can get a 30-year fixed-rate $200,000 mortgage for 5.75 % plus 2 points (which cost about $4,000), or 6.75 % with no points. If you go with the lower interest rate you save $130 a month. It will take you about 2.5 years to recoup that $4,000 you had to pay up front to get the lower rate. However, over the following 28 years you will save $46,818 due to the lower interest rate and payments.

* PREPAY THE PRINCIPAL: Each month when you make your regular mortgage payment, write a second check for one-twelfth of the regular mortgage payment. Do this every month and at the end of one year you will have made the equivalent of 13 monthly payments. On a 30-year $200,000 mortgage at 6.75 % interest, this tactic pays off your mortgage in 24 years and saves a whopping $62,750 in interest.

* GO SHORT-TERM: Although your monthly payment may be higher, you can save tens of thousands of dollars in interest by shopping for the shortest-term mortgage you can afford. For each $100,000 you borrow at a 7 % annual percentage rate (APR), for example, you will pay over $75,000 less in interest on a 15-year fixed-rate mortgage than you would on a 30-year fixed-rate mortgage.

* DROP THE PMI: Private mortgage insurance (PMI) is extra insurance lenders require from most homebuyers who obtain loans that are for more than 80 % of their new home’s value. However, thanks to the Homeowner’s Protection Act (HPA), PMI is now automatically cancelled once your mortgage is paid down to 77 % of the original value of the property. Typically, PMI premiums range from $250 to $1,200 a year.

CREDIT CARD AND BANKING TIPS:

* PAY EARLY: Most credit card companies compute interest charges based on your average daily balance, so making your payment early in the billing cycle (as soon as you receive your statement rather than waiting until the payment is due) will save $5, $10 or even more a month. Why? Because you reduce the daily balance for more days in the cycle.

* JUST ASK: Tired of paying 16 % interest on your credit card balance? Pick up the phone and call customer service (the number on the back of your card). Ask for a lower rate. If you have a good payment history, chacnes are they’ll lower it on the spot. The difference between 18% and 7% on a $5,000 balance is $46 a month, or almost $600 a year.

* FIGHT THE FEES: If your credit card issuer smacks you with a fee, don’t be shy. Nearly all banks will waive at least one late fee ($15-$39) or over-limit fee (up to $39), but you have to ask. If you’re paying an annual fee (anywhere from $50 to $300) just to have the card, ask to have that waived too.

* PAY ONLINE: If you pay 15 bills a month by mail, you’re spending at least $75 a year in postage. Most large banks offer free online bill paying for customers that lets you pay any vendor, or you can also pay the vendor directly online. Go to your bank’s website or the vendor’s website to learn more.

You know, it’s a tough economy we’re in right now and whether you’re on a tight budget, struggling to meet ends each month or you’ve saved up some cash and are more flexible with your money, it doesn’t hurt to make the smartest decisions possible and find ways to save as much money as you can. I hope this tips helped you; as a first-time home owner myself, I learned a lot about mortgages through these tips.

I would love to hear what you’re doing to save money during our current economic times?

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!
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Photo Credit: AMagill

Original article was written by Mary Hunt and found in the July 2008 edition of Woman’s Day magazine

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!

Well, Spring has sprung and now it’s time to get rid of the weeds, trim the bushes, plant flowers and work on home maintenance projects! I don’t know about you, but I especially love this time of year…although it’s hectic trying to balance all the normal everyday activities and add yard work to the mix. The warm weather and the colorful flowers making their way up through the dirt makes me want to organize and clean…to me this is when the new year begins, not January 1st.

I  stumbled upon some great little projects to do this month that will keep your home in good shape:

• Inspect screens (both house and vent screens to attic or crawl space) for tears and bent frames.
• Clean window screens. Lay them flat on a picnic table or a pair of sawhorses and scrub them with a soft bristle brush and a mild detergent solution. Rinse with a garden hose and allow to dry thoroughly.
• Inspect outdoor structures for deterioration –especially signs of rot. Use a small awl to probe posts, railings and window sills for soft spots. If you find any, plan to replace or repair them when the weather turns fair.
• Prepare for the outdoor cooking season by inspecting gas grills. Remove cooking grills and thoroughly clean them with soapy water and a brush with brass bristles. Remove accumulated grease from lava rocks and ceramic briquettes by turning them over and igniting the burners. Allow 10 minutes on high heat to clean the briquettes.
• Inspect garden hoses for leaks. Make temporary repairs with electrical tape. Pry out old washers and replace them. Don’t leave hoses connected to outdoor spigots until the danger of frost is completely over.
• Caulk open joints, particularly around windows and doors.
• Inspect the crawl space or basement after rains for water accumulation or excessive moisture. Look for signs of water damage on the subfloor and joists beneath bathrooms, the kitchen and laundry. Find and fix leaks now or pay the price later.
• Shut off the water to the washing machine, remove the water supply hoses and examine them and the washers. Replace worn and damaged ones.
• Check fire extinguishers to make sure they are not outdated, have lost pressure or are damaged.
• Check all weatherstripping around doors and windows for wear, damage or loss of flexibility. Replace material that is no longer blocking air.
• Clean your garbage disposal. Grind two trays of ice cubes made from a mixture of one cup white vinegar to one gallon of water.

Thank You for Reading!

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!

Photos ©2009 Anne Rains Photography, All Rights Reserved.

(Project ideas came from an article on Weather.com)