Douglasville, GA

Periodically, I will review certain neighborhoods in the Atlanta area to provide insight into lifestyle, cost of living and quality of schoools for the area.

The first city on the list is Douglasville, GA which is located about 20 miles west of Atlanta.

Here are some statistics for 2008 in Dougasville

Median Income: $57,139

Median Home Price: $143, 050

Home ownership in Douglasville is around 66% which is a little higher than most metro counties. Also, Douglasville has crime risk rates that are below average for all crimes. Douglasville has many established communities with the Chapel Hills and Anneewakee Trails areas being some of the largest residential developments in the county.

Douglas county currently has four high schools

Litha Springs High School

Douglas County High School

Alexander High School

Chapel Hill High School

There is currently a new high school under construction on the east side of the county which will help with the rampant growth that has occurred on the east side of the county. Also, Douglas county has one of the lowest cost of living indexes in the Atlanta metro area. Due to the fact that Douglas county is a more rural area, property taxes, housing and food costs tend to be less than areas closer to the heart of downtown Atlanta. Douglasville, also provides excellent shopping, restaurants nearby with Arbor Place Mall being the hub of the primary area that has most shopping and dining options.

You can learn more about Douglas County by visiting the county website, Douglas County Official Website.

I actually was referred to the Five Guys chain by a client and was I glad. These have to be the best burgers I have tasted. So I want you to put them to the challenge. Let me know if you think you can fine a better burger anywhere else.

I met the store Manager Charita aand owner Jim Ellison, great people, the want their customers to feel like they can kick back and take it easy while enjoying freshly prepared burgers and watch out for the fries!!

We think real estate is a tough business but restraunts??? Give them you support and try one today!!

They are on Chapel Hills rd in front of Kohls and next to Bank of North GA.

Frequently Asked Questions

The one reality about today's housing market is that many people have more questions than answers. The following information is intended to help you or someone you know better understand your situation.

For Further Questions feel free to contact us. For All Tax Related Decisions we advise strongly that you consult you CPA prior to making a decision. Check Out the latest Douglas county happenings and for further information about Metro Atlanta. If you have a Real Estate need in Atlanta trust the Full time Local professionals at Team Renton Keller Williams. For Free Home Search for Douglasville or Metro Atlanta go to www.servingdouglasvillehomes.com.

Do I qualify for a short sale?

The qualifications for a short sale include any or all of the following:

1. Financial Hardship - There is a situation causing you to have trouble affording your mortgage.
2. Monthly Income Shortfall - "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
3. Insolvency - The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

What is a mortgage modification?

A mortgage modification is a process through which your mortgage lender changes any or all of the following:

• Your interest rate
• Your principal balance (through a reduction)
• Your loan terms (example: from an adjustable to a fixed rate)

This process can allow borrowers to stay in their property when they can no longer afford their current mortgage payments.

Why would a lender modify my mortgage?

Lenders have realized that in some cases it is better for them to work with current borrowers to lower payments or possibly improve terms in order to keep homeowners in their properties. The average foreclosure can cost a lender from 35-50% of the value of a property, so keeping borrowers in their homes is a good option for everyone.

What do I need to qualify for a mortgage modification?

According to the Making Home Affordable Web site (www.MakingHomeAffordable.gov), you will need the following information for your lender to consider a modification:

• Information about your first mortgage, such as your monthly mortgage statement
• Information about any second mortgage or home equity line of credit on the house
• Account balances and minimum monthly payments due on all of your credit cards
• Account balances and monthly payments on all your other debts such as student loans and car loans
• Your most recent income tax return
• Information about your savings and other assets
• Information about the monthly gross (before tax) income of your household, including recent pay stubs if you receive them or documentation of income you receive from other sources

If applicable, it may also be helpful to have a letter describing any circumstances that caused your income reduce or expenses to increase (job loss, divorce, illness, etc.)

How do I qualify for a mortgage modification?

The first call you make should be to your lender, have the information above ready to discuss with them and call your customer service line to ask them what options you have available. If the person you speak with does not understand what you are asking, you can ask to be referred to one of the following departments (different lenders have different names for these departments):

• Loss Mitigation
• Mortgage Modification
• H.O.P.E.

Prior to contacting your mortgage lender you can quickly complete an eligibility test at www.MakingHomeAffordable.gov. This test will let you know if you are eligible for a modification through the government-sponsored Home Affordability and Stability Program (HASP).

For a list of mortgage lenders and servicers, visit www.HopeNow.org.

What is a Home Affordable Refinance?

If Fannie Mae or Freddie Mac owns your mortgage, you may be eligible for a Home Affordable Refinance. This will allow you to refinance your home and often lower your payments.

What if I don't qualify, can't afford my home, and owe more than it's worth?

You are not alone and foreclosure is not the only option. If your mortgage lender or servicer will not work with you to reduce your payment, you may want to consider a short sale. Agents with the Certified Distressed Property Expert® Designation have undergone extensive training in how to process and negotiate short sales.

A short sale allows you to sell your home for less than what you owe and avoid foreclosure. Speak to me to see if you may qualify.

What are the qualifications for a Home Affordable Refinance?

According to the resources released by the government, following are a list of qualifications:

• You are the owner occupant of a one- to four-unit home
• The loan on your property is owned or securitized by Fannie Mae or Freddie Mac (see Useful Links)
• At the time you apply, you are current on your mortgage payments (you haven't been more than 30 days late on your mortgage payment in the last 12 months, or if you have had the loan for less than 12 months, you have never missed a payment)
• You believe that the amount you owe on your first mortgage is about the same or slightly less than the current value of your house
• You have income sufficient to support the new mortgage payments, and the refinance improves the long-term affordability or stability of your loan

Statewide Homebuyer Tax Credit Signed Into Law

For Further Questions feel free to contact us. For All Tax Related Decisions we advise strongly that you consult you CPA prior to making a decision. Check Out the latest Douglas county happenings and for further information about Metro Atlanta. If you have a Real Estate need in Atlanta trust the Full time Local professionals at Team Renton Keller Williams. For Free Home Search for Douglasville or Metro Atlanta go to www.servingdouglasvillehomes.com.

HB 261 was signed into law on May 11, 2009 by Georgia Governor Sonny Perdue. GAR applauds House Sponsor Ron Stephens (Savannah), House Ways and Means Chairman Larry O'Neal (Warner Robins) and Senate Chairman Chip Pearson (Dawsonville) for their tireless efforts in the passage of this important legislation. Unlike the federal tax credit, the Georgia credit is not limited to first-time homebuyers, and there are no applicable income limits. The credit is only available to buyers of eligible single family residences who close between June 1 and November 30 of this year. The prompt actions of all GAR members who responded to Calls for Action on this legislation were pivotal in influencing the passage of this legislation. Below are Frequently Asked Questions regarding the Georgia Tax Credit:

1. Is this tax credit limited to first time homebuyers?
NO, all purchasers of an eligible single family residence in Georgia that file a Georgia income tax return can claim the credit.

2. Can the Georgia credit be combined with the federal $8,000 first time homebuyer tax credit?
YES, if buyers meet the qualification for each credit they may claim both. Each credit operates independently from the other. One is claimed on your federal income tax return, the other is claimed on your Georgia income tax return.

3. Is it true this credit is limited to the purchase of a single family residence?
YES, the tax credit is limited to the purchase of one single family residence.
Single-family residences (including condominiums) are eligible if they are:
* New residences, residences occupied at the time of sale, or previously occupied residences, if such residences:
- Were for sale prior to the effective date (5/11/09) and were still for sale after the effective date;
* Owner-occupied residences with respect to which the owner's acquisition debt is in default on or before March 1, 2009; and
* Residences with respect to which a foreclosure event has taken place and which are owned by the mortgagor or the mortgagor's agent.

4. Is it true that eligible single family residences must have been listed prior to May 11, 2009 in order to qualify for the credit?
YES, the original intent of the bill was aimed at reducing the housing stock that has been on the market for an extended period of time.

5. Is it true that only eligible buyers that close between June 1, 2009 and Nov. 30, 2009 can claim the credit?
YES, the intent of credit is to stimulate the market by encouraging potential buyers to get off the fence and BUY NOW!

6. How do I determine the amount of tax credit I am eligible for?
The tax credit will be for 1.2% of the purchase price, with a maximum credit of $1,800 (whichever is less). Homes purchased for $150,000 or more will receive a maximum of $1,800.

7. Can I claim all $1,800 on my 2009 income tax returns?
NO, the total amount of your credit must be claimed in one-third increments over a three year period. The maximum credit per year is $600 if you are eligible for the maximum $1,800. Any excess or unused credit may be carried forward to apply to succeeding years' tax liability.

8. Can I amend my 2008 Georgia income tax return to claim the credit?
NO, the tax credit cannot be applied against prior years' tax liability.

9. I am looking for investment property or a second home, is the credit available for the purchase of owner-occupied residences only?
NO, all eligible single family residences qualify for the credit. However, each taxpayer can claim the credit one time only.

10. Is there an income limit for buyers who claim the credit?
NO, there are no income limits applicable to this credit.

11. Is there a limit to how long a buyer must own the property to claim the credit?
NO, there is not a limit to how long a buyer must own the property.

12. Does any portion of the credit require repayment for any reason?
NO, if you are awarded the credit there are no penalties that would require you repay any portion of the credit.

For Further Questions feel free to contact us. Check Out the latest Douglas county happenings and for further information about Metro Atlanta. If you have a Real Estate need in Atlanta trust the Full time Local professionals at Team Renton Keller Williams. For Free Home Search for Douglasville or Metro Atlanta go to www.servingdouglasvillehomes.com.

Rates have gone up in the summer months for the last 3 summers. If you are thinking about buying a house now is the time to lock in and maximize your net worth as a buyer. Inventory levels are starting to decline and the market is showing signs of recovery in Atlanta.

Here are rates so far today.

**Please note, during this volatile time in the market it is not unusual for the rates to change multiple times during the day either up or down. The rates I send are the first cut coming out in the day.** (Also, please note that these rates have not been adjusted for credit scores, loan type, loan to value, or other factors that are involved in adjustments.)

30 Year Fixed - 5.250%

20 Year Fixed - 5.250%

15 Year Fixed - 4.750%

10 Year Fixed - 4.750%

FHA/VA 30 Year Fixed - 5.250%

USDA Rural Development 30 Year Fixed - 5.500%

***Rates quoted have zero points. Lower rates can be obtained by paying upfront discount points.***

***NOTE: Jumbo rates will be quoted on request only going forward****