If you are a first time home purchaser there is a huge incentive and financial boost to buy a home. For a limted time, the federal government will give you an $8,000 TAX CREDIT. This means that you could amend your 2008 tax returns and receive a check for the full amount.

If you'd like to use this for a down payment, there are some restrictions, but check with your Realtor or Mortgage advisor for the latest updates. In some states, there are also state tax incentives that can be added in addition to the $8,000 federal incentive.

I was working with some buyers recently who negotiated a very good deal. We bargained for the sellers to pay all closing costs. The buyers put down 3.5% for an FHA loan, which was about $7,000. After the closing, they re-submitted their taxes and received $8,000 back. The buyer asked me..."Do you mean that we get paid $1,000 to buy this home?" I told her yes!

Call me for more details..

I noticed that there were a few blogs about BID SELECT, but not very many. I want to share with you my experience.

After looking at a listing with an investor, I called the LA for more info. She informed me that my offer will have to be placed on BIDSELECT.COM. We have done this and looks like we may get the home. Here are a few things to be aware of:

1.The registration process can take a minute. Agents have to register on-line and it requires many bits of information. I had to track down my real estate license to find the "expiration date". Not something I keep up with daily. You can pre-register if you think that you may have a client that wants to make a quick offer.

2. The offer goes to a third party company for review. Mine came back that we had been "ACKNOWLEDGED" which I found to be a good thing. Then we printed out 20 plus pages of addenda and had to overnight it to Dallas along with certified funds.

3. The contract is intimidating. The addendum required is long and 100% one-sided. It can potentially scare off clients because it does not apparently let the buyer out of the deal very easily. Similar to other REO contracts these days.

4. Lastly,  be sure to compare the price of the property in MLS with the BIDSELECT price. We found that the agent had not updated a recent price REDUCTION, and only uncovered this on the website.

If you have any other feedback or observations, please share them...

 Marietta, Georgia - One of the Best Places to Raise Your Kids!

 Based on a recent study by BUSINESS WEEK magazine, Marietta was found to be #2 in the state for raising your kids. The study was based on towns/cities with at least 50,000 residents and median income of between $40,000 and $100,000.

They factored in SCHOOL PERFORMANCE, HOUSEHOLD EXPENDITURES, NUMBER OF SCHOOLS, CRIME RATE, AIR QUALITY, JOB GROWTH, MUSEUMS, PARKS AND OTHER AMENITIES AND DIVERSITY.

The most important factor was AFFORDABILITY, and with the economy that we are in, you may just want to consider moving here!

Here is the link to the whole article:

BUSINESS WEEK LINK

If you have an interest in MARIETTA, and would like to know more, please contact me at 770-988-3453 or through this website.

We all know that the media has had a field day with REAL ESTATE for a while now. While things are down, it's never as bad as the media portrays, and I feel that the newspapers are the worst. Big articles when the news is gloomy and a 2 line mention on page 16 when things are good.

With all of that said, here are some misconceptions in the marketplace. This is primarily for buyers as you are out looking at homes.

HOMES ARE ACTUALLY SELLING: Don't assume that if you find one that you like, that it will be available in a week or two. The good ones go quickly. In a market that is down 20%, remember that 80% of the people are still buying. Know the market well enough to recognize a deal and pounce on it when you find it.

CAN YOU GET A STEAL?: Many buyers feel that they have the power to negotiate way below asking price. This can be true sometimes, but not usually. Many people are not as desperate as the media makes it sound. The homes that look like true "steals' are most likely going to need lots of repair and work. There's usually a reason that the house is priced at $100,000 in a $200,000 neighborhood. (it's because the house needs about $100,000 in repairs)

NOT ALL HOMES FOR SALE ARE "DISTRESS" PROPERTIES: With all of the hype about FORECLOSURES, don't assume that they all are. Talk to your agent about tjhe difference in Pre-Foreclosure, Foreclosures and bank owned properties. Many people are still "testing the market" to see if they can get what they want. They don't need to sell, but would like to.

NOT ALL HOMES THAT HAVE BEEN ON THE MARKET FOR A WHILE ARE WILLING TO DEAL: It's interesting how many people associate "DAYS ON MARKET" to "LEVEL OF DESPERATION." They say things like, "It's been on the market for a year, so they must be really ngotiable on this price!" The truth is that many times the opposite is true. The house has not sold because they WOULD NOT NEGOTIATE. They may have had multiple offers and not willing to discount the home by a dollar, and lost the sale.

That's all for now. If you see a deal, buy it fast. Don't over-analyze the market. Look for the deals, but know what you are buying.

This crazy world of REO properties.

I have an investor, who in one day, asked me to prepare offers on 12 properties. My first thought was the great opportunity to have several more closings this year and generate some extra income. The truth of the matter is, the offers are around $50 to $60K and one offer has been lowered to under $35K.

What amazes me is the response from REO agents. EVERY counter or acceptance requires a document as long or longer than the Georgia Association of Realtors Contract. Every one is different and has varying degrees of additionally required documentation.

It's also interesting to get the "well we have multiple offers, so you may want to raise your bid" types of responses. Even when we don't raise our bid, it's interesting how many we got anyway. I don;t know who is teaching these agents how to negotiate. I guess it works sometimes.

I'm keeping score and will report back to you on the outcome.

One tool that I carry with me when showing homes is the StreamLight Stylus Pro. With a name like this, it could be anything from lap top to a fountain pen, but it's a FLASHLIGHT. It's a very snall, but very powerful light that fits in your shirt pocket. We've all shown property that had no electricity or had a dark crawl or attic. Especially with the number of foreclosures, you need a flashlight to get around.

Several websites sell them. Just Google "StreamLight Stylus Pro" and find the best price. They are not cheap, but will last for years and years. Very sturdy. As I mentioned before, they are just slightly bigger than a pen and fit comfortably in a jacket or shirt pocket. Discreet without making you look too "nerdy."

The also easily fit in a purse or day planner. Check 'em out. Good stuff for all realtors.

.

I heard a CD of an interview with Steve Kantor this week. Mr. kantor is the author of "BILLION DOLLAR AGENT." I'm Curious if you have read this book. I have not ordered the book, but the interview was intriguing.

Mr. Kantor interviews the TOP 70 agents in the country. Those agents that have already done or mosT likely will do a BILLION DOLLARS IN TRANSACTIONS in their careers.

His goal is to take the agents that make about $100,000 to the level of making $200k to $500K. His research shows that if you have gotten to a six figure income that you have what it takes to get to the levels just mentioned above.

He also says that this book is not designed for rookies and if you're not in it for the long haul and high incomes, don't bother reading it.

If you know much about this book, please share it. Here's the link for more info:

http://www.billiondollaragent.com/index.html

As many markets have softened, it's requiring that we get more creative in getting clients. In speaking with other agents, I think that we forget about referring business out of town or out of state. I'm closing on a home today that came through our relocation department.

The Florida agent had some Atlanta buyers looking around the Orlando area for a home. They informed the agent that they were wanting to sell their home in Atlanta and move to Florida. As an excellent agent, she asked if they had listed their home yet and whether they had an agent or not. They said "no" and she asked if she could refer an agent to them. She filled out the paperwork, sent it our relocation depratment and it was sent to me.

Ironically, the couple ending upo buying a house in Florida, but they used ANOTHER AGENT! She receievd no compensation from their Florida purchase.

On the other hand! She will receieve a check for $4,000 next week for asking one questiion and filling out one fax and doing an out of state referral. Great job!

I just attended my second "TURNING POINT" with Brian Buffini. I know the name "turning point" is a little hokey and sounds like a Tony Robbins Rah-Rah session, but now that I have been using the Buffini system for a year I'm convinced it's the way to go. My second Turning Point helped me to hear him again and sharpen my systems and plan more effectively.

These 2 days events will be stopping this year and next year, the sessions will be only one day events. The two cities left on his tour are Richmond and Phoenix. If you can go, it's very well worth the cost.

So many agents flounder in their first year or two and Brian helos you focus on what really produces income. Being "independent contractors" is the good and bad news. Some direction and structure are critical.

If you want more info, just type BUFFINI in Google and he'll pop up. Great stuff!!

Here is a link I want to share:

http://www.epa.gov/radon/pubs/citguide.html

It's the page that takes you to the "CITIZEN'S GUIDE" to radon. While we don't have serious radon problems in Georgia, there are pockets of the metro that have elevated levels. This multi-page brochure is in color, it's free and can be printed for your use. It's provided by the EPA and is very well done.

I suggest you read it because there is a lot of confusion and mis-information flotaing around about Radon gas.

You can't see it, smell it or taste it, yet it's a big health risk at high levels.

Check it out and give to all of your clients...That's my suggestion....