Update on the "Stimulus" Bill
I know there will be some that view home buyer tax credit as a positive, but I view it as a major disappointment. Part of the recent “stimulus” bill President Obama just signed included a reduced tax credit for first-time home buyers. The amount of the tax credit is the lesser of 10% of the cost of the home or $8000 (Georgia Senator Isakson’s limit was $22,000). This will do zilch to stimulate Buckhead’s, and the surrounding areas like Sandy Springs’ and Dunwoody’s, housing market. There are some conditions:. - You must be a first-time home buyer - The...
Read MoreShort Sales
A couple of years ago you would have been hard pressed to have found someone who could have adequately defined a “short sale” for you. Unfortunately, as a sign of the times, “short sale” seems to be ingrained within our our vernacular. If you are considering selling your home in a short sale you’ll need to consult with an attorney, your mortgage company and probably a CPA – since there may be some forgiveness of debt as income issues. The following is a brief explanation from the purchaser’s side of a short sale. A short sale occurs during the...
Read MorePre-Foreclosure
When a property initially enters pre-foreclosure status, the owners typically have two to three months to reinstate the property by paying off their behind payments. If the property is in this status then the owners are in danger of losing their home, any equity in the property and having a black mark placed on their credit record. If the property is on the market, the owner, who is in default on his payments, will use the proceeds of the sale to payoff what is owed on the home. It will be important for us to find out what is owed on the home. The owner will not be able to sell the home...
Read MoreThe stress of feedback.
Selling a home can be a stressful experience. After you’ve owned your home for a while it becomes a representation of your personality. You pick paint colors, renovate kitchens and shop flea markets for the right velvet Elvis picture. The home is a monument to your good taste, or lack of it. Don’t worry I’ll mention something that seems a little out-of-place for the Buckhead market. Then I will develop a marketing plan which is essentially an invitation for judgement. You need a thick skin, because we’ll actively solicit feedback. The process can feed on your...
Read MoreRainwater collection and your landscape
I’ve been really intrigued with the idea of rainwater collection for landscape irrigation. Metro Atlanta has been in a drought for a couple of years now. Lake Lanier, which is Atlanta’s source of water, is about 13 feet below its average level. Even after the drought ends, people in Buckhead and Atlanta will need to practice water conservation. There has been a tremendous amount of development in the Metro Atlanta area and the water capacity has not kept up with the population growth. Our growth coupled with the “water wars” against Alabama and Florida means water...
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