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Lockridge Forest – SOLD

SOLD!!!!!!    Great house for sale - 3928 Locklear Court.  Priced to sell at $247,000  $239,900.  Home has 3 bedrooms, 2 baths (plus 1/2 bath in laundry), sun room, partially finished basement and tons of storage.  Home has been well taken care of and has new windows.  Lot is very private with mature trees and on a cul de sac.    Great Neighborhood with excellent swim & tennis available.   3928 Locklear Court Virtual Tour.

Cash Buyers Creating Bidding Wars

We saw this quite a bit in 2009 here in Atlanta - foreclosed properties receiving multiple bids.  The winners of the bids are often cash offers from investors leaving would be homeowners scratching their heads wondering how to win the bid.   Here is a great article from the Washington Post about Cash Buyers Triggering Bidding Wars.    There are some great options for folks looking to buy and live in the home - such as the HUD programs which allow for owner occupied bids over investor bids for the first 2 weeks of property being listed.  The catch on some of these homes is the bidder needs cash to cover any overages and/or closing costs.  I had a client this past fall who successful outbid the other offers on the table with a financing contingency.  We went over on the asking price but he has moved in and has a great house in a great area.  And though he paid over the asking price, the house was still below what has sold in the area and needed minimal repairs. Remember the tax buyer credit is still out there!

Georgia Ranked in Top 10 of Best Business States

Forbes rated the top States for Business and Georgia ranked #6.  Despite the economic woes we are feeling - this is great news and will hopefully lead to more businesses finding their way to our state.  And certainly some positive news for Georgia. Forbes used several different sources and based their rankings on 6 different categories.  The Forbes article is here and has the details on the category rankings and the sources used to gather the information.

Federal Housing Tax Credit – 2009/2010

Great news for buyers and sellers!  The Federal Housing Tax Credit has been amended and extended.   In addition to credits for first time buyers, there is also now a credit for move-up buyers.

FIRST TIME HOME BUYER CREDIT:

• $8,000 tax credit for first time buyers - which is defined by IRS as someone who hasn't owned a principal residence during the three years prior to this purchse.
• Tax credit is up to 10% of the home's purchase price - maximum of $8,000.
• Home price must be less than $800,000 sales price.
• Applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010.  However - if binding agreement is reached on April 30, 2010 - you just have to close by June 30, 2010 to be eligible.
• For homes purchased after November 6, 2009 and by April 30, 2010 - the income has been increased to single filers at $125,000 and married couples filing jointly at $225,000 to qualify for the full tax credit.

MOVE-UP BUYERS:

• To be eligible to claim the tax credit - buyers must have owned and lived in previous home for 5 consecutive years out of the last 8 years.
• Tax credit doesn't have to be repaid
• Tax credit is equal to 10% of the sales purchase price up to $6,500
• Tax credit applies to homes with purchase prices of $800,000 or less
• Applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010.  However - if binding agreement is reached on April 30, 2010 - you just have to close by June 30, 2010 to be eligible.
• For homes purchased after November 6, 2009 and by April 30, 2010 - the income has been increased to single filers at $125,000 and married couples filing jointly at $225,000 to qualify for the full tax credit

This should help continue to move inventory along with the great low interest rates.  And if you are selling your home - this will also help open doors to buyers who might need just a bit more incentive to buy!  As always - contact me if you have any questions or are interested in buying or selling! You can visit the Federal Housing Tax Credit site here.

3859 Peachtree Dunwoody Rd – NEW LISTING

NEW Listing - 3859 Peachtree Dunwoody - in Buckhead.  Renovated and ready for move-in!  Home is listed for $499,000  $485,000 and is an amazing value.  Open floor plan with 4 beds, 3.5 baths - plus office/sundroom or 5th bedroom & basement den.  Home has new baths & new kitchen - including stained wood cabinets, granite counter tops, tile back splash& stainless steel appliances.  Large master bedroom with sitting room.  Home sits on a wooded lot and has a huge rear deck.     Click here for Virtual Tour.

Candler Park Fall Festival ’09

This weekend - October 10th & 11th -  is the Candler Park Fall Festival! Saturday at 9am ~ the annual 5K kicks off the festival.  The course is through Candler Park and you can still run - entry fee is $24 and all proceeds benefit the Candler Park Neighborhood Association. Bands throughout Saturday & Sunday - click here for the music schedule.  Activitiest for the kids.  On Sunday - there is a home tour from noon to 6pm.  Tickets are $15.  And of course there will be beer & food.  The festival benefits the Candler Park Neighborhood Association.   For more details on the festival ~ Candler Park '09 Fall Fest.

Low Interest Rates Still Available

WOW - interest rates are still low.  It is a great to buy!    Interest rates from SunTrust Bank: 30 year fixed Conventional 4.75% FHA/VA 4.75% Jumbo 6.125% 5/1 ARM Conventional 3.375% FHA 3.375% Jumbo 4.5% And if you are a first time buyer (or haven't owned in 3 years) you still have time to take advantage of the $8000 tax credit!  

Economists Predict Atlanta as Place for Home Prices to Increase!

Moody's economists report to Forbes.com the recovery of the real estate market.   Some analysts are predicting the National market to hit bottom by mid 2010.   Predictions indicate that from 2009 to 2014 - an 11.35% increase in prices.  Good news indeed!   It is a great time to buy with LOW interest rates and LOW prices. Here is the full Forbes.com article.

7020 Foxberry Lane – Roswell

  SOLD!!!! Great new listing in Roswell!  $239,900 - 3 bedrooms/2.5 baths.  GORGEOUS newly installed cherry hardwood floors, Travertine tiles & Berber carpet.  This house has been painted inside and out and is move-in ready!  Click here for virtual tour.

Housing Construction Starts – 9 Month High!

Here are the details in the NY TIMES .

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