georgia homebuyers: Penny-Pinching Homebuyer? 5 Places NOT to Cut Costs on Your Real Estate Transaction - 02/11/10 10:55 AM
It's no secret that times are tough - money is tight and people are cutting back on expenses and spending.
And yet, there are still people out there buying homes. In fact, the federal government's new extended and expanded homebuyer tax credit is making buying a home rather attractive to a large number of potential homeowners out there, who are racing against the clock to get under contract by April 30, 2010, and close by June 30, 2010.
But for many first-time homebuyers, money can be tight - perhaps they have spent months or years saving enough for a down payment for … (6 comments)

georgia homebuyers: THANK YOU, Governor Sonny Perdue, for Signing the Georgia Homebuyer Tax Credit Bill! - 05/14/09 04:33 AM
YES, it's true! I talked about it a few weeks back and it's finally REAL!
Georgia Governor Sonny Perdue signed HB 261 on Monday afternoon, making the Georgia Homebuyer Tax Credit a reality! The bill offers all buyers(not just first-time homebuyers) a tax credit on the purchase of an eligible (see below) home. The tax credit is worth 1.2% of the sales price, to a maximum credit of $1,800, spread over three years' taxes.
For example, if you purchase a home for $150,000, then your credit would be $1800.00. Meaning you will get (if you file the correct paperwork at tax time … (2 comments)

georgia homebuyers: Thank You, Senator Isakson | U.S. Senate Unanimously Approves Senator Isakson's Housing Stimulus Amendment - 04/08/09 02:19 AM
GOOD NEWS! (And there doesn't seem to be that much of it lately!)
Last week, the U.S. Senate unanimously approved an amendment to the Fiscal Year 2010 Budget Resolution by U.S. Senator Johnny Isakson, R-Ga. The amendment seeks to stimulate the nation's declining housing market by providing for a $15,000 tax credit to individuals who purchase a home in the next year.
The limit on the housing stimulus tax credit will be $15,000 or 10% of the purchase price, whichever is less. Having been previously voted down and/or reduced in previous years, this amendment seems to have a good chance of … (2 comments)

georgia homebuyers: Is a Foreclosure Really a Good Deal? How Much Does a Foreclosure Cost? (It's Shocking!) - 03/16/09 02:58 AM
As REALTORS®, we look at foreclosure properties - running the gamut from decently maintained to neglected, vandalized, "trashed" - and we try to estimate their value, based on the amount of the loan foreclosed on, the neighborhood comps, the amount of work that needs to be done (is the house missing just the kitchen refrigerator, or all the toilets? does it have light fixtures? are there gaping holes in the sheetrock? was it in the middle of a renovation when it was foreclosed on?).
Our buyers look at foreclosed properties as "a deal" - the best deal out there (not always … (0 comments)

georgia homebuyers: Georgia Homebuyer Tax Credit in the Works - Support the Georgia Homebuyer Tax Credit - 03/15/09 11:27 AM
Similar to the Federal tax credit proposed by Senators Johnny Isakson and Joe Lieberman, there is a TAX CREDIT in the works for Georgia homebuyers - in the form of HB 261 - a Statewide Homebuyer Tax Credit. With the current crisis of Georgia's housing market, the passing of this bill could positively impact Georgia's economy.
Basically, the tax credit would be available to ALL BUYERS, not just first-time homebuyers. The bill would provide a tax credit of 1.2% of the purchase price, up to $3,600, to be paid out over a period of 3 years, with equal credits each year. … (2 comments)

georgia homebuyers: Georgia Homebuyer Tax Credit - Talking Points | From the Georgia Association of REALTORS - 02/16/09 12:20 PM
In conjunction with my post regarding the pending REALTOR-supported Georgia Homebuyer Tax Credit, here is a list of talking points supplied by the Georgia Association of REALTORS:
Talking Points
Homebuyer Tax Credit for the Purchase of a Home: Would have broad and immediate economic impact. Would have significant economic impact for communities affected by the recent foreclosure epidemic as well as areas with a glut of new homes and homes that have not sold for an extended period. A tax credit will induce credit worthy buyers back into the marketplace, which will help create jobs and strenghten Georgia's economy We believe … (0 comments)

georgia homebuyers: Georgia Homebuyer Tax Credit - Updated Information - 02/16/09 12:15 PM
Below is an email I received from the Georgia Association of REALTORS today, regarding the Georgia Homebuyer Tax Credit. This important legislation could positively impact the Georgia real estate market and Georgia homebuyers, and it's important for REALTORS and consumers in Georgia to be informed!
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For some more details and talking points about the Georgia Homebuyer Tax Credit, please click here!
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Maura Neill, ABR, CRS, MAThe Gebhardt GroupRE/MAX Greater Atlanta10220 Medlock Bridge RoadJohns Creek, GA 30097
(770) 238-0595email: Maura@GebhardtGroup.comwebsite: http://www.GebhardtGroup.com/blog: http://www.GebhardtGroupBlog.com/
 
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