Janice Slaven, Suwanee Georgia Real Estate

I've written on this topic before and it bears repeating....particularly in today's market. If you are planning to put your home on the market this spring and you currently have an older home, it behooves you to take the time to prepare your house for a successful sale. Keep in mind, I am not saying you will see a huge return on your investment, but it will definitely give you better odds of getting to the closing table. Depending on your market, updates may not be critical. However, in Suwanee, there have been many homes built in the past 10 years or less which you will compete against. So if you are like my husband and I having moved into Suwanee before any one even knew Suwanee existed your home, like ours, has probably hit the 20 years or older mark. Recently we have given serious consideration to selling our home. Our kids are older.....And, so are we....We would prefer a master on the main. And although we have been diligent about keeping our home updated over the years, there is always more to do. It is important to know what buyers are seeing in homes - at your price point - for your particular market. Typically, there are two rooms which will make the biggest impression on any potential buyer: The kitchen and the bath rooms. They are also the most expensive rooms to update if done correctly.

KITCHEN: I remember when I entered the real estate market over 14 years ago in Gwinnett County, formica counter tops were standard in a kitchen. Gradually Corian® became the "must have" for kitchen counter tops. The Corian® counter tops were typically found in what was considered (at the time) the "upper end" price point of homes. In today's market, you will find granite counter tops in the kitchens of almost every price point of home with an under mount sink. So if your kitchen is currently sporting the infamous formica counter tops, it will be worth exploring to replace your old counter tops with granite. If you do install granite counter tops be sure to seal them prior to using them. A good sealer can be found at any home improvement store. Additionally, appliances play a huge part on how your kitchen is perceived by a potential buyer. If your appliances are dated, you may need to replace them prior to marketing your home. The appliances do not have to be high end appliances, but you do want to install appliances in a color that is current for the market. Most homes today in our local market tend to lean towards the stainless steel appliances; black is another good choice. Bright lighting in the kitchen is essential as well. Many new homes make use of canned lighting in the kitchen. However, if you update your lighting in the kitchen with flourescent lighting be sure to choose something that provides exceptional lighting and compliments today's color schemes. And, don't forget the light above your kitchen table. This tends to be a focal point so be selective and tasteful choosing something that will appeal to a variety of buyer tastes. And if your cabinets are showing their age, it doesn't mean you have to endure the cost of a major renovation. There are several options with kitchen cabinets:

1. Remove the old cabinets and install new cabinets (the most expensive)
2. Reface the old cabinets
3. Refinish or paint the current cabinets (least cost investment, but can provide excellent results)

Flooring in a kitchen is also essential. Laminate is definitely OUT!!!! Take the time to invest in either hard wood floors or tile. And, finally, a fresh coat of paint goes a long way. When it comes time to sell your home, personal taste no longer prevails. You want to remain neutral with your color choices so it will appeal to an array of color schemes.

FIVE kitchen retrofits buyers love in a kitchen:

1. Tile back splash
2. Under counter lighting
3. Doors with glass panels to some cabinets
4. New hardware

BATH ROOMS: These rooms can be scaled to involve minimal cost to high end.

1. Remove the old vanity and install a new vanity top in granite or solid surface (not marble)
2. Reface the old cabinet and install a new vanity top in granite or solid surface (not marble)
3. Refinish the current cabinet, add new hard ware and install a new vanity top in granite or solid surface (not marble)
4. Replace laminate flooring with tile flooring
5. If your old tile floor looks good but the grout is in bad shape there are companies who can clean the grout and reseal
6. Add updated faucets and shower fixtures
7. Replace the toilet
8. Remove wall paper and paint in a neutral (warm) paint color
9. Add new light fixtures

FIVE kitchen and bath features buyers want most:

1. 36% prefer a separate shower enclosure in the master bath room
2. 31% prefer an eat-in kitchen
3. 24% high end appliances
4. 23% granite counter tops
5. 21% kitchen island

(Source: NAR 2007 Profile of Buyers Home Feature Preferences)

Keep in mind this is a nation-wide survey. Trends will change depending on market. A professional real estate agent who specializes in your specific market will certainly be able to help you decide which changes are best for your home. He or she will be able to help you prioritize based on your budget capabilities. But doing your due diligence before the sign goes in the yard should reap you great rewards!

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What Does the New Federal Housing Tax Credit Mean for You?

In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000* for first-time home buyers.

But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible.

$8,000Home Buyer Tax Credit at a Glance

·The tax credit is for first-time home buyers: defined as a purchaser not having owned a home within the previous 3-year period.

·The tax credit does not have to be repaid.

·The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.

·The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

·The tax credit can be claimed on 2008 income tax forms even if thepurchase took place in 2009.

·Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

*visit http://www.federalhousingtaxcredit.com/ for more information

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A House as Seen By....

SELLER.....

BUYER....

LENDER...

APPRAISER...

YOUR COUNTY TAX ASSESSOR...

Over the past 12 to 24 months, many home owners have experienced a substantial loss of equity in their homes. It is unlikely the tax assessors will have the time needed to re-assess all the properties; and, as such the responsiblity will fall into the lap of each home owner. So if you do not act quickly you may loose the opportunity all together. In Georgia, all real property is assessed an ad volorem property tax and each county Tax Commissioner is responsible for collecting the taxes. Additionally, under Georgia law, tax payers are required to file a tax return for all taxable property owned on January 1 of each year by the designated dead line (see below).

If you disagree with your previous year's value, you should file a return. As an example: If your home is being assessed in 2008 at $300,000; but due to current market conditions the sales price on houses in your neighborhood may indicate your current market value is only $250,000. You must file the appeal by the dead line or you will loose all rights to the appeal later in the year. Also keep in mind, your appeal does not guarantee it will be accepted by the Board of Equalization (BOA). If the appeal is denied you will receive a denial letter in the mail.

As of February 20, 2009:

Property Tax Assessment Moratorium Bill Passes House

After HR 1 failed to reach the necessary 2/3 majority to pass a constitutional amendment, House leadership went to plan “B.” HB 233 passed the House last week and if approved by the Senate would place a two year moratorium on the increase of property tax assessments between January 2009 and January 2011. If a property is sold within the two year period, the property shall continue to be valued at the most recent value before sale. If additions or improvements are made to the property or if the property is rezoned at the request of the owner it shall be revalued at fair market value. Provisions of this bill will not apply to cities or counties which have previously adopted property tax assessment caps, unless the local ordinance is repealed. HB 233 has been assigned to the Senate Finance Committee and as a Realtor looking our for you, please bookmark this website for any updates.

If the Property Tax Assessment Moratorium Bill is passed by the Senate we may see a moratorium on property tax assessments. For counties who have an April dead line for appealing your tax bill, you will want to watch for updates. (Source: NAR)

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Chuck Warbington
Executive Director
Gwinnett Village Improvement District

Norcross, GA (February 4, 2009) --- On the heels of the County's release of another year of double digit reduction in crime for the CID, the Gwinnett Village Community Improvement District (GVCID) has announced implementation of phase 3 of their Targeted Enforcement Zone (TEZ) program by providing dedicated private security for the Gwinnett Village area.

In December 2008, GVCID contracted with Specialized Intelligence and Security (SIS) to provide dedicated private security for properties within the district. The team of private security officers will have four patrol vehicles providing continuous overnight coverage, 7 days a week, for the commercial areas of the CID. When asked about the program Mark Lemke, public information representative for SIS said, "We are extremely happy to work with Gwinnett Village and we feel that there is a real opportunity to make an impact here. Our ultimate goal is to act as a crime deterrent by being as visible as possible in the community."

This initiative is an additional arm to Gwinnett Village CID's ongoing TEZ program. For the past two years, the CID contracted with Gwinnett County and Norcross Police to provide an additional layer of police coverage. With the rollout of the private security patrols, the CID has budgeted $450,000 for all three phases in 2009.

"We are pleased with the results of 2 years of crime reduction efforts by Gwinnett County and the City of Norcross and we want to build upon that success with additional eyes and ears on the street," said Chuck Warbington, executive director of Gwinnett Village CID.

In April 2007, the GVCID board and Gwinnett County Commissioners voted unanimously to approve additional overtime police protection services for Gwinnett Village. In November 2007, the GVCID board and the City of Norcross voted unanimously to approve two full time officers dedicated to the CID area. The patrols are exclusively funded by the CID and focus on suspicious activity, vehicles and persons in commercial areas of southwest Gwinnett County.

The results of the efforts by Gwinnett County, City of Norcross and the CID speaks for themselves. In the past two years, there has been a significant decrease in overall crime within The Village. Vehicle break-ins, motor vehicle theft and commercial burglaries have declined 22, 21 and 10 percent respectively from 2006 (numbers gathered from the Westside precinct) even with a downturn in the economy.

Gwinnett County Chairman even indicated his positive support saying "Gwinnett County is becoming a safer place to live and work and the Gwinnett Village area is no exception. County government is working successfully with our CIDs to keep reducing violence, gang activity, drug dealing, and property crimes" Chairman Bannister

"We are certainly pleased with the results the Targeted Enforcement Zone Program has yielded thus far," said Warbington. "Gwinnett Village security will continue to be our top priority for 2009."

ABOUT THE GWINNETT VILLAGE CID

The Gwinnett Village CID is a special benefit district supported by area commercial property owners which aims to improve southwest Gwinnett County's aging infrastructure, security issues and property values. The mission of the Gwinnett Village CID is to increase property values, promote business development and improve the quality of life for all those who live, work and play in the village. Online at www.gwinnettvillage.com .

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This article has been posted with the express consent of the author.

What a pleasant surprise to see December '08 out-perform November '08. In November we saw only 2,471 detached family units sold while in December we finished with 3,212 units. Not bad for a month usually devoted to Holiday shopping, parties and time with family and friends. Just as interesting, is an increase in average pricing: $204,800 in December while November average sold price was $196,833.

Attached single housing faired about the same: December closed with 476 units while November '08 closed with 367 units. And, pricing on attached single family homes also followed suit with the detached: December '08 the average sales price - although well below December '07 - was $168,436 ahead of November '08 coming in at $160,453.

So let's take a look at December numbers:

According to a January 27, 2009 article in the Atlanta Journal Constitution by Michael Kanell and Kirsten Tagami, nationally home sales were up 6.5 percent from November to December. However according to the same article, Steve Palm, president of SmartNumbers (Marietta research firm), stated sales for the Atlanta area were down 14 percent December '08 compared to the same time one year ago. The overall concensus is that the lower interest rates are definitely encouraging buyers to go out and buy! Even though we are only looking at a one month increase, after the year we have just had I think we will all agree...WE'LL TAKE IT!!!!

"Act as if you have already achieved your goal and it is yours." - Dr. Robert Anthony

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