Lead Based Paint
Did you know that a lot of homes built prior to 1978 had lead paint? Here is a quick review, FYI.
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The Fauscett Team's North Georgia Real Estate Blog
Becky Fauscett, Keller Williams Realty Lanier Partners
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Displaying blog entries 21-30 of 49
Tuesday, April 15, 2008
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Why Now is a Smart Time to Buy
Wednesday, March 12, 2008
Found this article in The Wall Street Journal and thought it was appropriate.
March 11, 2008
Why Now is a Smart Time to Buy
Now is a great time to buy a home, say the financial gurus at the Wall Street Journal.
The Journal calls it a buyers market and offers these suggestions for first-timers getting their feet wet. While their advice is solid, it’s not revolutionary.
Remember this is a place to live not a stock market investment. Lenders want buyers to spend no more than 28 percent of their gross monthly income on mortgage payments, real estate taxes, and home insurance. Buyers shouldn’t count on stretching further because lenders won’t approve their loans.
Source: The Wall Street Journal, Shelly Banjo (03/11/08)
Cash is king.
Location.
Compare.
Think long haul.
It will probably take at least six or seven years of living in the house to be able to sell and come out ahead.Besides just looking at the comps, buyers should examine what it would cost to rent a similar house in the same area and they might consider what it would cost to buy land and build a comparable home.Location, location. As any good real estate professional knows, homes in good school districts where the crime is low are much more likely to hold or increase their value.Having enough money in the bank to pay closing costs that are typically an additional 3 percent of the price of the home is necessary.
Did You Vote Today?
Tuesday, February 05, 2008
Today is Super Tuesday in Georgia
We hope you got a chance to go out and vote for the candidate you want to run for president of the Unites States of
To keep tabs on how the elections is going check out these websites.
Click Here for full coverage of the election
.
Remember to file for Homestead Exemption
Thursday, January 24, 2008
FILING FOR HOMESTEAD EXEMPTION
The Homestead Exemption is available to legal residents of Georgia for their primary homes. You are able to claim a partial exemption, which can amount to substantial property tax savings. Senior citizens may have additional exemptions available. Check with your county tax office. You are entitled to the Homestead Exemption if you owned and occupied your home by January 1. Unless otherwise note, the Homestead Exemption filing deadline is March 1st.
Where and When to File:
Hall County: 300 Green Street, Gainesville. You may contact them at 770-531-6720 8:00 am– 5:00 pm Monday thru Friday. www.hallcounty.org
Gwinnett County: You may file at 75 Langley Drive in Lawrenceville. You may contact them at 770-822-8800 Monday-Friday, from 8:30 am to 5:00 pm. Call for Application. www.co.gwinnett.ga.us
Dawson County: 78 Howard Ave E., Ste. 120, Dawsonville. You may contact them at 706-344-3590 Monday-Friday from 8:00 am to 5:00 pm. www.dawson.org
Forsyth County: You may file at 110 East Main Street, Suite 260 in Cumming. You may contact them at 770-781-2106 Monday–Friday from 8:30 am to 5:00 pm. www.forsythco.com
Jackson County: You may file at 67 Athens Street in Jefferson. You may contact them at (706) 367-6325. Monday-Friday from 8:00 am-5:00 pm. http://www.jacksoncountygov.com
Cobb County: Cobb County homeowners file by mail. You should be receiving applications soon. If not, consult the tax office at 100 Cherokee Street, Bldg. A, Ste 250 in Marietta 8:00 am-5:00 pm Monday-Friday, or call 770-528-8600. www.cobbtax.org
Clayton County: You may file at 121 South McDonough Street, Courthouse Annex 3 Building, Jonesboro. You may contact them at 770-477-3311 8:00 am to 5:00 pm Monday-Friday. www.co.clayton.ga.us
Dekalb County: 4380 Memorial Drive, Ste. 100, Decatur. You may contact them at 404-298-4000, Monday-Saturday from 8:00 am to 5:00 pm. www.co.dekalb.ga.us
Douglas County: You may file at the Douglas County Courthouse. 8700 Hospital Drive, Douglasville. You may contact them at 770-920-7272 Monday-Friday 8:00 am–5:00 pm. www.co.douglas.ga.us
Fayette County: You may file at 140 Stonewall Avenue West, Suite 110 in Fayetteville. You may contact them at 770-461-3652 Monday–Friday from 8:00 am to 5:00 pm. www.admin.co.fayette.ga.us
Fulton County: 141 Pryor Street S.W., Room 1113, Downtown Atlanta, in North Springs. You may contact them at 404-730-6100. You may file in ANY Fulton County Tax Office. There are two annexes in Fulton County, 7741 Roswell Rd., Sandy Springs & 289 South Main Street, Alpharetta, Monday–Friday, 8 am to 5 pm http://www.fultoncountytaxes.org/fultoniwr
Paulding County: You may file at 25 Courthouse Square, Dallas. You may contact them at 770-443-7606 ext. 45 - 8:00 am-5:00 pm. www.paulding.gov
Rockdale County: You may file at 969 Pine Street, Conyers. Filing deadline is June 1st. You may contact them at 770-929-4152 Monday-Friday 8:00 am-4:00 pm. www.rockdalecounty.org
What You Need in Order to File:
A copy of the recorded warranty deed, Social Security numbers of all persons on the deed, the mortgage holder, and the amount of the mortgage. Note: Some counties may require a copy of the closing statement.
Georgia Homestead Exemption Law has been amended
The Georgia Legislature recently modified the Homestead Exemption Law.
What are the changes?
· The new law provides for year-round filing.
o Beginning June 1, 2005, new homeowners may apply for their homestead exemption immediately upon receipt of their warranty deed, which is customarily mailed to them after recording.
o After 2005, new Homeowners will be eligible to file for the homestead exemption throughout the year of their purchase up until March 1 of the following year.
What about homeowners who purchase their homes before June 1, 2005?
· Those who purchased their home in 2004:
o These homeowners are already eligible to file their homestead exemption and will continue to be eligible until March 1, 2005.
· Those who purchased their home in 2005:
o These homeowners will be eligible to file their homestead exemption on June 1, 2005 and will continue to be eligible to file until March 1, 2006.Hall County School Zoning Changes
Thursday, January 17, 2008
Submitted by Sarah Frech
Hall County Board of Education has approved the new attendance zones. Here is the picture that was in The Times on January 15, 2008 of the new zones. If you click on the picture it will take you to the article that was in The Times about the new zones.
How is this going to effect you and your children? Should you move? Which zone should you move into? Which has the better schools? Have questions like these? Call us for some help with finding the answers. (770) 297-6411 or email us at info@tfthomes.com.
Our Newest Listing!
Wednesday, January 09, 2008
6133 Cedar Springs Lane
Hurry to get this Unbelievable Home! Enjoy 18 hole golf course community, swim/tennis, and town hall. This home is spacious with 3 living areas, fenced backyard, granite counter tops, hardwood floors, open floor plan and is great for entertaining! Priced below appraisal. Vacant and ready to move in. Call 1-800-235-7862 talking ad #2474
Merry Christmas or Happy Holidays? What's your thoughts?
Tuesday, December 04, 2007
Submitted by Sarah Frech
I went shopping the day after Thanksgiving and at the Mall I went to I heard cashiers saying Merry Christmas. It only seemed odd to me because it was only the day after Thanksgiving and it wasn't even December yet. Then again this was the first time for me to actually go out shopping the Friday after Thanksgiving. It may be what you would usually hear. It didn't bother me one bit, but you do hear now about how stores ask their employees to not say this so that it doesn't offend anyone that is not a Christian and doesn't celebrate Christmas. I can understand both sides to this argument. What are your thoughts? We want to know.
The Cost of Not Buying a Home Now!
Tuesday, December 04, 2007
Right now is a GREAT time to get a GREAT deal on a new Home! Take advantage of this Buyer's Market and capitalize on the benefits of being a Home Owner! Look over this analysis, and call The Fauscett Team if you have any questions or to help get you started on the path to finding your new home!!
COST OF NOT BUYING A HOME
1) Rent Lost
Rent = $1,200/MO The average person takes 30 days to buy.
If you wait 6 months, you will pay you landlord ……………….. $6,000
2) Rate Change
If today’s rate is 5.5% on a 30 Year fixed rate mortgage, assuming a $200,000 sales price with 5% down:
Your payment will be….$1,073 per month…
The following shows what happens to your payment if your rate goes up by the time you buy (in ½% increments)
Rate Pmt Loss/mo Cost/YR Cost 7/YRs Cost 30/YRs
6.0% $1,133 $60 $720 $5,040 $21,600
6.5% $1,194 $121 $1,452 $10,164 $43,560
7.0% $1,256 $183 $2,196 $15,372 $65.880
This number you must look at from the long term picture. If you wait 6 months to buy a home, it is possible (or even likely) that the rates will be up .5%. The cost/loss to you IS NOT $60 per month. The cost is $60 per month times however many months you own the home. The average American owns a home 7 years, so that loss equals $5,040. If you keep this home as a rental property (a great idea especially for your first home and when rates are this low) then the loss is times 30 years, or $21,600. Of course if you look at it like a good financial planner would, your loss is not simply the $21,000 but it’s that amount times the opportunity cost of lost interest had you invested that money yielding 5%-10% appreciation compounded annually. This of course multiplies the loss to 2 to 3 times the actual cash loss!!!!
And if you are waiting until “next year” to buy that rental property…”Hello,…McFly!?!”
3) Appreciation Lost (Assuming a $200,000 sales price)
Appreciation Per Month 6 Months 1 year
3% $500 $3,000 $6,000
5%* $833 $5,000 $10,000
6% $2,000 $6,000 $12,000
8% $1,333 $16,000 $32,000
10% $1,666 $20,000 $40,000
*Metro Atlanta typically appreciates at an average rate of 4%-5% per year. Atlanta was predicted to appreciate 24% over the next 5 years (CNN.com “Top 10 Places to buy-NOW”)
4) Tax deduction/interest write off
This is the trickiest of the calculations because everybody’s tax situation is different, and the tax code is a tad bit complicated. But as a general rule, you can write off 100% of the interest portion of your payment. And if you didn’t know, the interest portion is MOST of the payment (for the first few years anyway)
For example: using the examples above, with a $1,073 per month payment ($190k loan @ 5.5%), the interest portion of the first payment is around $850 per month. So that’s the write off that you will NOT be getting per month until you buy. Most people buying this price home are in the 28% tax bracket plus 6% state. That means the actual cash loss is the monthly payment times your tax bracket. Let’s say 33%. So in this example, you are losing $280 per month CASH in tax deduction that you are not receiving. That’s not even taking in to account that writing off $10,200 per year ($850 times 12 months) would probably take you in to a lower tax bracket; consequently, you would pay taxes at a lower rate…… (again, I am not an accountant nor do I ever want to be one; so, consult a CPA regarding your particular tax situation)
So,….Your “lack of deduction loss” is appx.…. $250- $300 per month
SUMMARY: IF YOU WAIT 6 MONTHS TO BUY, YOU ARE LOSING BETWEEN $8,000 AND $15,000 IN THAT TIME ALONE! IF YOU MISS TODAYS RATE, IT COULD COST ANOTHER $15,000 TO $100,000 MORE OVER THE LONG HAUL.
One last point: Affordability and lifestyle
I do not recommend ANYONE BUYING A HOME that they can not afford, or that will make them ‘house-poor’. I recommend that you should be fairly conservative. This means add up your PITI (total mortgage payment with taxes and insurance added in) and your payment should NOT be above 30% of your GROSS monthly income (before taxes).
Remember this, though: If you ‘wait’ to buy, that $200,000 home will most likely be $210,000 next year (5% appreciation). So the question you must ask is, “Is my income going up 5% per year?” If not then you will be able to afford LESS in a year than you can now.
**This is not intended as an earnings claim on purchasing real property. Past results are not in indication of future performance. Please consult your tax advisor. (ask about the W-4 form).
The Atlanta Real Estate Market
Monday, November 12, 2007
We found a couple of articles that we found interesting and wanted to share them with you.
This one came from REALTOR Magazine onlie Top 5 Markets Where Home Prices are Rising and Atlanta is rated 4th.
This next artical In Pictures: America's Most Stable Housing Markets was found on Forbes.com and was written by Matt Woolsey
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Displaying blog entries 21-30 of 49
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The Fauscett Team
Keller Williams Realty Lanier Partners
631 Dawsonville Hwy.
Gainesville
GA
30501
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Last Modified 2/4/2012