Lesley was recently awarded a Keller Williams WI4C2TS Award given by our peers.  This is a culture award representing the best of the Keller Williams.  I thought this might be a good time to introduce you to that Keller Williams culture and belief system if you aren’t familiar with it.  You’ll also get a glimpse into how the name of the award came about if you look closely.

Keller Williams Realty

Our Mission:  To build careers worth having, businesses worth owning and lives worth living.

Our Vision:  To be the real estate company of choice for a new generation of sales associates and real estate owners.

Our Values:  God, Family, then Business

Our Belief System:

Lesley and I would be honored to share with you a little more about the Keller Williams difference.

On February 13th, President Obama signed the Stimulus Bill into law.  Is this what we’ve all been waiting for? Well, as a real estate agent, if falls a little short of what I was hoping for, but there are some clear benefits to you in the new plan, and I felt like it would be helpful to share. Thanks to Michael Pemberton, a Certified Financial Planner, who helped us navigate the bill. Here’s what he thinks is important to note:

• AMT: There is a $70 billion provision to keep the alternative minimum tax from slamming about 24 million taxpayers.

• Car Buyers: Anyone who buys a new car in 2009 gets to deduct the sales tax. To qualify, buyer must make less than $125,000 individually or $250,000 jointly.

• Home Buyer Tax Credit: First-time homebuyers who purchase this calendar year get an $8,000 tax credit which does not have to be repaid like a similar measure last year. This phases out for people making more than $75,000 individually or $150,000 jointly. “First-time homebuyer” is defined as someone who has not owned a home for the past three years.

• Income Tax Credit: Anyone making $75,000 individually or $150,000 as a family will get refundable tax credit up to $400 per person or $800 per family.

• Paying for College Tax Credits: Individuals making less than $80,000 or families making less than $160,000 can get up to $2,500 in tax credits for college tuition. 40 percent ($1,000) of the credit is refundable. Cost: $13.9 billion over 10 years.

Michael Pemberton is with Russell and Associates. 1050 Crown Pointe Parkway, Suite 1000, Atlanta, GA 30338, mcpemberton2000@yahoo.com, Click the link below to check out our reviews on Kudzu.com! http://www.kudzu.com/merchant/reviews/17586067.html. 

The emails have been racing in with everyone wanting to contribute content.  Here’s a great Q&A session provided by Scott Meldrum at Countrywide Home Loans which is a great resource for all your real estate questions:

The latest edition of “This Month in Real Estate” provided by Keller Williams gives us some valuable figures to ponder.  Did you know that a 1% drop in interest rate effectively translates into a 10% discount on the sales price of your new home?  With interest rates still at historic lows and home prices already depressed, you are getting more than a deal these days.  Historically speaking, you’re getting a steal.  Enjoy the latest stats and comments in this video…

At the beginning of every year, we send a letter out to our clients we represented from the previous year.  Our purpose of the letter is twofold.  First and foremost to thank them for giving us an oppotunity in an ocean full of real estate agents.  Secondly, we always remind our past clients about the importance of filing for the Homestead Exemption on their primary residence.  This year’s letters have already gone out, but I wanted to post some helpful information and links in the event that you have purchased a home in the last calendar year.  

As you know, buying a home can be a huge tax advantage, so we want to be sure that as a new homeowner you know you may be eligible for a Homestead Exemption.

Georgia allows homeowners to claim a Homestead Exemption as a tax benefit that could amount to considerable annual savings.  To qualify the homeowner must occupy the residence and file at the county Court House or Tax Commissioner’s Office in person, by mail or on the web, depending on the county in which you reside.  Filing deadlines do vary by county, but we encourage you to do this as soon as possible.

For your convenience, we have attached the contact information below of most major Georgia county Tax Commissioner offices, so that you may file for exemption quickly and easily.  If your county is not listed, please visit www.georgia.gov/00/topic_index_channel/0,2092,4802_5083,00.html to find your county’s tax office information.  If you have any questions about the homestead exemption and its benefits, we encourage you to talk with your accountant.  Many thank to Leigh Clack with Neel and Robinson for providing these updated links and contacts.

Fulton County – deadline is April 1, 2009                   404-612-6440

http://www.fultonassessor.org/Forms/HtmlFrame.aspx?mode=content/Exemptions.htm&taxyear=2007&ownseq=1&jur=&LMparent=180

DeKalb County – deadline is March 1, 2009 (file by Friday, 2/27)  404-298-4000

https://dklbweb.dekalbga.org/taxcommissioner/index.asp?pg=homestead#applications

Gwinnett County – deadline is March 2, 2009            770-822-8800

https://ssl.gwinnetttaxcommissioner.com/Property/information/TypesOfExemptions.aspx

Cobb County – deadline is April 1, 2009                     770-528-8600

http://www.cobbtax.org/Forms/HtmlFrame.aspx?mode=content/Exemptions.htm&LMparent=189

Clayton County – deadline is April 1, 2009                770-477-3311

http://www.co.clayton.ga.us/tax_commissioner/exemptions.htm

Cherokee County – deadline is April 1, 2009              678-493-6122

 http://www.cherokeega.com/ccweb/departments/assessor/

Henry County – deadline is April 1, 2009                    770-288-8180                 

http://www.co.henry.ga.us/taxcommissioner/PropertyTaxExemptions.shtml

Forsyth County – deadline is March 1, 2009 (aim for 2/27)     770-781-2106 

http://www.forsythco.com/DeptPage.asp?DeptID=25&PageID=299

Douglas County – deadline is April 1, 2009                  770-920-7272

http://www.celebratedouglascounty.com/tax/

Fayette County – deadline is March 1, 2009 (aim for 2/27)   770-461-3652

http://www.fayettecountytaxcomm.com/HOMESTEA.html

Paulding County – deadline is April 1, 2009                 770-443-7606

http://www.paulding.gov/gov/taxcommissioner.asp

In an effort to bring you the best information on the market possible, we make this research available.  We have a world of data to share with you if you are interested.  Just give us a call or send us an email.  Here’s a little glimpse of what we can provide thanks to Chart Master Chuck Carr.  It’s a great example of what is going on in the market.  Here are a few interesting observations:

1. The month supply of listings by price range goes up as the prices go up.  Hope you aren’t trying to sell your $2M+ listing right now.  There’s 44.7 months worth of inventory or close to 4 years.  The good news here is that the total amount of inventory represents 9.2 months.  This number has been over 12 months less than 6 months ago so we are making progress.
2. Foreclosures are clogging the <$200,000 price range. 
3. Foreclosures represent 1 in 4 market sales right now.  We actually think its higher than that.  Unfortunately there are some agents who miscode their listings.  Agents have to “code” the listing as a foreclosure for it to relay in this data.  Many times agents are calling their foreclosure listings “corporate owned.”   In our market center circles we believe the number of foreclosures may be more like 1 in 3 sales.
4. The price ranges that are moving best over the last 6 months are the <$100,000 and $200,000-$300,000 ranges.
5. Homes are selling on average in 77 days on the market for 91.9% of their list price.

With new tax advantages coming (fingers crossed) for homebuyers, historically low interest rates still hanging around, and spring busy season almost among us, I feel comfortable in saying that we are in for a boost.  If you are considering selling your home, we understand that this data is rather daunting.  However, if you are buying up, it is safe to say that you can make up your loss and then some on your next home.  We can help you take advantage of this market.  When selling your home, think like a buyer.  We are in a price war right now.  You have to be ready for battle and dressed to kill!

Today may have been the most positive day in the last year for our beaten down real estate market.   John Adams is reporting today, according to his sources, that Fannie Mae is lifting it’s 4 property limit.  In other words, an individual can only have 4 Fannie Mae loans currently on his/her credit report under current FNMA policy.  In order to understand the magnitude of this potential move, you need to back up a little bit.  In August of last year, Fannie Mae cut off investors from financing more than 4 properties with an announcement known as 08-22.  The previous policies allowed investors to have up to 10 financed properties on their credit report at any given time.  The changing financial market and added risk was just too much apparently, and Fannie Mae felt they needed to do something.  It was a bonehead move though because it crippled investors.  Their once “easy” source of financing was severed, which meant they had to self finance or rely on the help of private money.   One thing that the investors do is buy ugly, unwanted houses, the glut of the housing market.  They have vision for what others don’t, and they don’t get emotionally involved with property.  This Fannie Mae announcement created a ripple effect in the investor network, and the rise in foreclosures, short sales, and distressed properties only compounded the trouble in the housing market.  The investor network and many of us in the real estate business have been lobbying FNMA to get their heads in the game and lift this silly policy.  The results of reverting back to the 10 property limit could really help us mop up the excess inventory, and we will need it if the rising tide of short sales comes through like many are predicting.  John is reporting that we will see an official announcement from Fannie Mae in the coming weeks, and let’s keep our fingers crossed. 

This exciting news coupled with the new tax credit passing through the Senate, courtesy of Senator Johnny Isakson from Georgia, and we have two awesome pieces of news for our beloved real estate market today.  The tax credit would incent ANYONE who may buy a home in the current year with 10% of the home’s purchase price up to $15,000.  The home has to be the primary residence, and the homebuyer must live in the home for at least two years.  This new credit would replace the current $7,500 credit available over the next few months ONLY to IRS-qualified first time homebuyers. 

Hello Mr. and Mrs. Buyer!  You have a perfect storm vastly in your favor right this minute, and the stars won’t align like this forever.  You’ve got depressed values, the lowest interest rates in the last 30+ years, high inventory, and now the government is potentially paying you to buy.  What else do you need?

Stay tuned here for more developments that are relevant.  As always, if we can help you in any way, please know it would be our pleasure.

It’s amazing how much information we think is ironclad and secure, but in reality, it’s just out there for everyone and their brother to see.  RecentlyLeigh Clack, a closing attorney friend of ours, shared this valuable information with us, and we pass it along as a consumer advisory.  I was amazed to see what is accessible to anyone via the public record.  See below…

Many thanks to Leigh Clack with Neel and Robinson Attorneys at Law, LLC.  Leigh is a great closing attorney who we close with often, and she can be reached at 404-705-3690 or lenox@neelandrobinson.com.

One of the joys of this job is getting to see beautiful property every day.  This is truly one of those type properties in the Classic Chastain Park area of Atlanta.  You are going to love this Sandy Springs cottage!

50 Mount Paran Road :: Atlanta, GA 30342

This 1940s traditional residence was originally built when Chastain Park was a vacation getaway for the city-dwelling Atlantans. As one of the few original cottages remaining, this home has been recently restored and renovated to retain the classic charm of the 1940s era! The spacious kitchen, formal living room, separate dining room, and large fam-ily room are fantastic for entertaining or open living. Kitchen features beautiful custom cabinets and island, gran-ite countertops, pantry, top-of-the-line stainless appliances, and sitting area. Family room boasts a vaulted beamed ceiling and fireplace. Master suite features 2 closets, jetted tub, double vanities, oversized shower and beautiful tile. In addition to the master on main and bedroom, an additional bedroom and full bathroom is upstairs. This room would be perfect for guests or even children as it is located adjacent to a bonus room that could be used for an office, playroom, or sitting area. Storage space galore in unfinished basement and garage. Conveniently located in the middle of it all – Buckhead, Downtown, Dunwoody and Sandy Springs. You’ll quickly have access to Roswell Road, GA400, Peachtree Road, and I285, and you will take comfort knowing your children are districted for the highly desirable Riverwood High School.  Come home today and enjoy the spring and summer season in the relaxing rocking chair front porch or private backyard deck!

Andy and Lesley Peters with The Peters Company at Keller Williams Realty Peachtree Road are well versed in intown Atlanta and Sandy Springs real estate.  We represent both buyers and sellers, and we are intimately familiar with the Sandy Springs resale, short sale and foreclosure market. For more information about The Peters Company, visit our website at www.thepeterscompany.com. You’ll also find us on Kudzu.com under “The Peters Company” where we have received well over 40 5-star reviews and are ranked as one of Atlanta’s highest rated real estate teams. Give us a call today at 770-634-2782. We look forward to working with you and helping you take advantage of today’s market!