Jennifer Mahota

Funny you should ask! The next few posts will be directly from Keller Williams Realty Inc and will show the latest and greatest trends in real esate:

2012 is off to a promising start. Mortgage rates continue to drop and have remained under 4% for nearly two months. Home sales are strengthening and pending home sales, a measure to gauge future sales, are at their highest levels since March 2010.

Job growth has been increasing for most of 2011, with unemployment dropping to 8.4%. As more people are getting jobs, consumer confidence has also been increasing. However, underemployment continues to be a problem for a stronger recovery. The underemployment rate is 18.1%, and there are still a significant number of people working part time, who would like to have full-time work.

Even with substantial national improvements, this continues to be a "one neighborhood at a time" recovery. Payroll jobs were up in 25 states, but down in 24, demonstrating the delicate state of the U.S. economy. Global factors such as the European debt crisis are also complicating a more robust recovery. Strong guidance is needed from local and global leaders to continue this growth, as well as allow for business to maintain momentum toward building and expanding upon the opportunities that exist.

Sources: Bureau of Labor Statistics, National Association of Realtors

Do you need Vacant Home Insurance?

If you are planning on moving out of your home before you sell it, you may need special homeowners insurance. Many homeowners policies have a "vacancy clause" that's triggered if the home owner is gone for an extended period of time. Like if you move first then put your home on the market. That's because empty homes are more likely to have break-ins and there's a greater risk of small problems growing into big problems. "While an extra policy might cost more, it could save you money down the road," says Jane L. Cline, NAIC President. So don't get left with sizeable repairs on top of the other costs to sell your home. Check your homeowners policy today. Then call me to help you market your home. Courtesy: www.realtor.org. October 2010.

The Forsyth County Board of Commissioners adopted an increase in the county's millage rate during a special called meeting Thursday, July 22, at a rate lower than the advertised, proposed increase. The vote followed the third of three public hearings held regarding the millage rate.

The approved Maintenance and Operation rate is 4.734 mills, up from 3.834 mills in 2009. The approved Fire rate is 1.975 mills, up from 1.841 mills in 2009. The increase in these rates was approved to help offset projected deficits in the county's 2011 preliminary budget and the Fire Department's 2011 preliminary budget.

The approved Bond rate is 0.947 mills, down from 1.196 mills in 2009. The reduced Bond millage rate reflects the debt service requirements for bonds in 2011.

These approved rates represent a total county millage increase of 0.785 mills, compared to the advertised, proposed total increase of 1.48 mills.

The millage rates adopted July 22 will fund the county's 2011 budget, which will be adopted toward the end of 2010.

So what does this do to my tax bill you might ask? Well, if you take last years tax bill to get the following values: fair market value and assessed value. Then use the new millage rate of 24.719 mills. Here is how to do the calculation:

Fair Market Value (F.M.V.) X 40% = Assessed Value

Assessed Value X .024719 = Tax.

Also remember that your Fair Market Value may go down this year. Property values as a whole have gone down and when you get your notice of value please make sure you take note of where your value is. Also remember that for the 2010 tax bill values are based on sales from 1/1/2009 to 12/31/2009 not today's sales. Please let me know if I can assist you once you get your letter of value.

CAN THE IRS TAX YOUR LOSS?

A lot of homeowners today are deciding to walk away from their house that is loosing value. You should be aware of the possible tax implications if you do a foreclosure. The IRS can consider the cancelled debt as a form of income and tax you on that in some cases. While debt used to buy or build a home might be exempt, debt from a cash-out refinance that was not used for the house is not. So if you took cash out of your home to fund your child's college tuition, buy a car, take a vacation or pay off credit card debt then that part of the mortgage might be taxable as income. It is always best to check with a real estate attorney or accountant before walking away from a mortgage that you might be upside down on before walking away from the house or even doing a short sale. I am always in favor of being aware of all the consequences before you take action.

One of the most desirable areas to live is South Forsyth County. Its schools have won many awards and the county has great parks, shopping, restaurants, and so much more. One of the great subdivisions which is located in South Forsyth County in Cumming GA is Saddlebrook Glen.

It is a swim/tennis community with a community playground, street lights, and sidewalks. The homeowners association recently changed the pool to a salt water pool which is so much better for your skin and eyes. This community is located near a large tract of land which will become another great county park in the future. It is also centrally located near The Avenues of Forsyth, Emory Hospital of Johns Creek, Northside Forsyth Hospital and so much more.

This community is slated for Big Creek Elementary, Piney Grove Middle, and South Forsyth High School. Big Creek was named as a winner in the 2009 Single Statewide Accountability System (SSAS) and earned the GOLD AWARD for outstanding student achievement.

In the area of schools that show the most progress or greatest gains in student achievement (from the 2008 to the 2009 school year),Piney Grove garnered a GOLD award. And in the area of schools that show excellence in student achievement with highperformance on their 2009 CRCT scores, Piney Grove earned a BRONZE award.

Newsweek has again recognized FCS' South Forsyth High School students and staff as one of the America's Best High Schools for 2010. According to Newsweek, they "pick the best high schools in the country based on how hard school staffs work to challenge students with advanced placement college-level courses and tests. Just over 1600 schools-only six percent of all the public schools in the U.S.-made the list". South Forsyth HS was named #199.

Saddlebrook Glen is a great place to call home.

Search for your new home at www.searchhomesforsalecummingga.com.