About Dawson County, GA

Sometimes things don't turn out exactly the way we like, but if you are the kind of person that always looks for the positive in the situation you will appreciate this update.

When Saxby Chambliss worked so very hard to pass the $15,000 Federal Tax Credit we were so proud that it did at least reach the House floor. However, as you know the credit we wound up with is the $8,000 tax credit only available to first time home buyers (which is anyone who has not owned a home in the last 3 years ) We were disappointed that the original amount was changed, but we are happy that we did get the $8,000.

Senator Chip Pearson worked very hard to get the Georgia House Bill 261 $3,600 tax credit for Georgians, and again we were disappointed that the amount was reduced. The Georgia Tax Credit for Home Buyers was debated between the House and the Senate until an agreement was finally reached on Friday giving an $1,800 tax credit (not the $3,600 credit we had hoped for) to Georgians purchasing a home.

So, if we are looking at the glass HALF FULL the GREAT NEWS IS....

• The Tax Credit is for $1,800.
• It is for ANY home buyer in Georgia, not just first time home buyers.
• It will be good for 6 months from the date the Governor signs the bill. (still waiting on that)
• You may be able to qualify for both the Federal AND the Georgia Tax Credits when purchasing a home in Georgia.

For all the details regarding the tax credit and how you can combine both the Federal Tax Credit and the Georgia Tax Credit, please consult with your tax preparer or accountant.

Many other Legislative Priorities were fulfilled last Friday regarding Georgia's economy, job growth, and education. Georgia will be a key state paving the way for economic recovery in the United States. Already we have realized a huge increase in activity in the real estate market here in Dawsonville.

I am committed to bringing you the latest developments in a timely manner.

Contact Kimberly Wilson, Your Available North Georgia Real Estate Specialist

I just got word that Bill 261 for a $3600 tax credit for Georgia residents has just.....PASSED THE SENATE!!!

This will be in addition to the federal tax credit and available to ALL HOMEBUYERS...not just first time homebuyers in the state of Georgia!

I do not know at this moment if the bill passed as it was originally written, or if changes were made. As soon as I get the details, I will update!

What awesome news today. Special thanks to our State Senator Chip Pearson for his efforts in helping get this bill passed. Senator Pearson has been working alongside the Georgia Home Builders Association and local associations to get this kind of legislation passed and aid in the housing recovery. I would ask that everyone reading this post please email Senator Pearson and thank him for his hard work on this bill. You can email him at: chip.pearson@senate.ga.gov

It's amazing what happens when people cooperate and the 'Powers that be' listen to the people's voice and great things are accomplished.

Contact me for more information and stay tuned for more!

Kimberly Wilson, Your Available Agent keeping you informed with up to the minute information!

UPDATE:

The bill still has to be signed by Governor Purdue. Once signed into law, it will only be available for 6 months. In addition, the credit will be divided and used over a 3 year period, not used all at once. I think this is a good thing. It's still a good tax credit amount for three years!

I look for Governor Purdue to sign this bill into law shortly.

Stay tuned!

Things seem to be picking up. Some of my listings are getting shown. I spent the day showing two different buyers. My website http://www.AlanGrizzle.com is getting a lot of traffic. One of todays buyers came from it. They are ready and would like to buy a mobile home on land for $65,000. It nees to be in Dawsonville or Cumming Georgia.

I expect to get a lease purchase signed tomorrow afternoon.

We have a new program for land. We have sellers who are willing to owner finance with a low down payment. We take the commission in payments over 35 months to allow someone to buy a lot for little money down. This is great for someone who would like to start paying on a lot to build on later. Please let me know if you know someone who may be interested. I can be reached at AlanGrizzle@AlanGrizzle.com

Have a great day. Let me know if I can help you in any way.

The phones have been ringing! Buyers are looking! Homes for Sale are going under contract. I faxed an offer on a foreclosure property last weekend that already had at least one offer on the table. Another one I called about had 4 offers pending review by the seller.

What does this all mean to you the buyer, and how can you get a great deal on a home? Is there really a secret way to get on the 'inside track' , or is there really an 'inside track' in the first place?

First I'm going to tell you that there is no secret. However, there are some tips that I can share with you to ensure that you receive the most up-to-date information and are able to find that 'great deal' that you are searching for. Follow this Do and Don't information and you will be on your way to finding your own GREAT DEAL!

DON'T: Call every Realtor in town asking questions about individual listings. Here's what happens. You call Agent Nancy about a house on Smith Rd. Agent Nancy asks "are you working with an agent." You say NO. Agent Nancy goes to work looking for homes for you. Then, Agent Nancy calls Agent Sandy to inquire about another listing's availability. Agent Sandy says "funny, I just got a call about that a few minutes ago." Eventually YOUR NAME comes up, and Agent Sandy says, HE CALLED ME TOO! I was just sitting here looking for properties for him. What happens now? Both Agent Nancy and Agent Sandy decide you are calling every other agent in town, and lay your name aside and don't call you back. You are no longer taken seriously.

DON'T: Try to do it alone.I realize that many of you are techno-savy, educated and able to purchase a home without anyone's help. However, this is not the time to be stubborn and flex your intelligence. The fact is that in the real estate market today things are happening fast and major changes occur almost every day. Foreclosure properties are listed with agents, not advertised to the general public. In addition, there are many Pre-Foreclosure properties that only an agent would have knowledge of and be able to negotiate a deal for you. Interested in a HUD property? Only AGENTS can represent you to make a bid on a HUD home. And I haven't even mentioned the advantages of having a agent when it comes time for negotiations. Navigating these waters alone would be like representing yourself in a murder trial instead of hiring a defense attorney.

DO: Find a qualified agent that you trust to work for you. It's ok to interview agents. Or, ask a friend for a recommendation. Once you have located an agent that you feel comfortable with, sign a Buyers Brokerage Agreement with that agent.

This agreement ensures the agent that you are trusting them to work for you and that you are not calling other agents. Your agent will make you a top priority and find you what you are looking for. When presented new information on homes, your agent will call you first! It's like having your own "secret agent"!

DO: Listen to the advice your agent offers when it comes time to make an offer. Understanding that if you have entered into this agreement with your agent, they are working for YOU and your best interests. Many people are misled into believing that asking prices are just a figment of the bank's imagination. Please understand that before these properties go back on the market, banks have already hired one or more qualified brokers to make an assessment of the value of the property. Then they will price the property accordingly. Yes, the bank will be inclined to accept a 'reasonable' offer. But folks, 'reasonable' is not $20,000 below the asking price. To make such an offer only wastes everyone's time. It's almost a guarantee that the asking price is still well below the former value of that home. So even at asking price, you will still be in a good position.

What's the bottom line? Hire an agent THAT YOU TRUST, and then TRUST the agent that you hire.

If you're in the North Georgia Area...Call Kimberly Wilson, your Dawsonville Real Estate Specialist!

As the leading advocate for homeownership, the National Association of REALTORS® aggressively supports the mortgage interest deduction (MID) because it helps people become and remain homeowners. The MID has been part of the federal tax code since it was first enacted in 1913. A home purchase - the largest investment most families will ever make - builds family wealth, provides tax revenues for local governments and stimulates growth in all housing-related industries. According the most recent IRS tax return data available, 63 percent of the families who claim the MID earn between $50,000 and $200,000 per year. While in any particular year only about one-third of taxpayers itemize, of the taxpayers who do itemize deductions, more than 81 percent take the MID.

NAR strongly opposes any attempts to alter the current tax treatment of mortgage interest. Any changes to the mortgage interest deduction could erode the value of homes and homeownership, effectively closing the door on the American dream. An NAR survey of home buyers found that both first-time buyers and repeat buyers ranked the desire for tax incentives as an important reason to buy. People usually don't buy homes because of the MID. They buy homes to satisfy social, family and personal goals. The MID does, however, facilitate homeownership by reducing the carrying costs of ownership.

The MID remains the most effective tax incentive to expand homeownership. Homeownership provides important social and economic benefits. It is the cornerstone of a healthy community, the basis for positive community involvement and a family's first step on the ladder to wealth.

The tax deductibility of interest paid on mortgages is both a powerful incentive for homeownership and one of the simplest provisions in the tax code. It should not be targeted for change. NAR has been both vocal and successful in protecting the MID, yet proposals to eliminate it or scale it back continue to surface in Congress. Policymakers and voters have a legitimate desire to simplify the tax system, but tampering with the deductions for mortgage interest and property tax would be unwise, if not disastrous. Current law permits deductions of the interest paid on mortgage debt of up to $1 million on a primary residence and one additional residence. In addition, the interest paid on home equity loans of up to $100,000 may be deducted.

NAR opposes any tax reform plan, including a flat tax plan, that does not retain the deductibility of mortgage interest. NAR also opposes any effort to convert the MID from a deduction to a tax credit. A flat tax is a tax system in which all earned income is taxed. It has no deductions or exclusions. A single rate of tax applies to all individuals, regardless of income level. It's called a flat tax because this single rate applies to all income. Flat tax and other tax code simplification plans threaten the MID. In the past, flat tax proposals have come before Congress as part of the ongoing debate over how best to reform the current tax system.NAR believes true reform can be achieved only through legislation that simplifies regulations and moves to a lower overall tax burden. Tax reform proposals that result in unfair distribution of present tax levels, heavier total tax burdens, or disruption of markets are not desirable. NAR will remain vigilant in opposing any tax reform plan that excludes the deductibility of mortgage interest.

Information from www.realtor.org