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Lawrenceville, GA Real Estate News

By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
Dealers want the Clunkers program to be stopped immediately  The cash-for-clunkers program, which was so popular that it ran out of the original $1 billion allocation in its very first week, received a $2 billion extension from the U.S. Senate recently. The Obama administration introduced the program to boost the auto industry and get inefficient vehicles off the road. Now the National Automobile Dealers Association (NADA) is urging the federal government to stop the program immediately.  NADA says that the program's fund may run out sooner than later given the pace at which deals are being done. Dealers are worried that they may not get paid if the program runs out of cash. NADA has warned that dealers who participate in Clunkers deals "face a growing risk that they may not be reimburs...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
OK If I understand the below correctly this is HUGE.. I asked someone to tell it to me like I was a 5th grader and this is what I got .. If you Your (Lender Bob) give Barrow Sam a $100 loan then turn around and ask Mortgage Security Lender Big Papa  to Back your $100 loan and they say give me a minute I go ask my investors the investors gather for coffee and review Barrow Sam's File and say sure we will back you Lender Bob ..Sam looks like a good risk and we will Big Papa and company will make lots of money... Then without re-coarse Lender Bob calls Barrow Sam and Say .. we will modify you loan and you now only owe us .. $50.. Big Papa and company are not happy they just lost $50 and they got a couple hundredloans with Lender Bob .. so what does Big Papa and company do .. 1) they stop b...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
Mortgage applications rise as interest rates fall to a five-week low  According to the Mortgage Bankers Association (MBA), its seasonally adjusted index of mortgage applications - which includes both purchase and refinance loans - rose 5.6% to a reading of 527.0 for the week ended August 14. The increase was due to a drop in loan rates -- the rate on 30-year fixed-rate mortgages, excluding fees, dropped 0.23% from the previous week to an average of 5.15%.  This is the lowest since the week ended July 10, but is well above the all-time low rate of 4.61% in the last week of March this year. Analysts say that the interest rates on mortgages play less of a role in home buying than they do in refinancing activity. "Probably the biggest driving factor for home purchasing right now is price," ...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
Mortgage prequalification vs. preapproval Once you have an idea of how much of a mortgage you can afford, you'll want to shop around and compare the mortgage rates and terms that various lenders offer. When you find the right lender, find out how you can prequalify or get preapproval for a loan. Prequalifying gives you the lender's estimate of how much you can borrow and in many cases can be done over the phone, usually at no cost. Prequalification does not guarantee that the lender will grant you a loan, but it can give you a rough idea of where you stand. If you're really serious about buying, however, you'll probably want to get preapproved for a loan. Preapproval is when the lender, after verifying your income and performing a credit check, lets you know exactly how much you can bor...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
Buying a Home There's no doubt about it--owning a home is an exciting prospect. After all, you've always dreamed of having a place that you could truly call your own. But buying a home can be stressful, especially when you're buying one for the first time. Fortunately, knowing what to expect can make it a lot easier. How much can you afford? According to a general rule of thumb, you can afford a house that costs two and a half times your annual salary. But determining how much you can afford to spend on a house is not quite so simple. Since most people finance their home purchases, buying a house usually means getting a mortgage. So, the amount you can afford to spend on a house is often tied to figuring out how large a mortgage you can afford. To figure this out, you'll need to take in...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
To have the best chance to win, follow this plan: A.  Get a preapproval and full prequalified by a major lender (the seller will require this). B.  Know what your're buying Understand what AS-IS means C.  Tour serveral Houses you would make an offer on (if the goal is to get the deal, then don't look for the perfect house).  If you're looking for the perfect house, expect your chances to get the deal to go down.You are not the only Buyer looking for athe perfect Home at a deep discount, D.  Once you find the house, have your agent determine how good the deal is as it's listed, ask for a buyer CMA and then  calculate repair costs. Bid accordingly. E.  Have your agent prepare the offer for you to sign.  Since it's a bank-owned property, the agent must follow the offer instructions exactly...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
Gwinnett County Homes For Sale The real estate market in Gwinnett County is comprised of single family detached homes, condominium and townhouse residences and commercial property. The condominium market features new and resale properties that range in price from the mid $60,000.00 range to over $500,000.00. Single family detached residences can be found in small quaint communities, larger communities with swim-tennis facilities and executive gated golf-country club communities. TPC Sugarloaf is host to the Bell South Classic Golf Tournament in the spring. The price ranges for single family detached properties in Gwinnett County go from the mid $80,000.00´s to over $3,500,000.00. You can begin your search for Gwinnett County Homes at www.GeorgiaOnlineHomes.com
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974. The purposes of RESPA are to help consumers become better shoppers for settlement services and to eliminate kickbacks and referral fees that unnecessarily increase the costs of certain settlement services RESPA covers loans secured with a mortgage placed on a one-to-four family residential property. These include most purchase loans, assumptions, refinances, property improvement loans, and equity lines of credit. HUD's Office of RESPA and Interstate Land Sales is responsible for enforcing RESPA
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
$1,800 State of GA Home Buyer Tax Credit Summary  Credit is lesser of 1.2% of home purchase price or $1,800 -  Thus, $1,800 for any home bought for price $150K or higher Available to buyers of single-family residences between June 1 and Nov 30 of 2009 This credit can be taken in addition to the $8,000 Federal Tax Credit The credit can be taken on State of GA income tax returns beginning in 2009 (2008 returns can't be amended) Available to anyone, including investors (not limited to 1st-time buyers like the Federal credit) No buyer income limit or requirement to how long a buyer must own the property (unlike Federal credit) Not a loan and does not need to be repaid The credit is not refundable (unlike Federal credit) -  Thus, if homebuyer only owes $400 in State taxes, homebuyer can only...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
$8,000 Federal Home Buyer Tax Credit Summary  Credit is lesser of 10% of home purchase price or $8,000             -  Thus, $8,000 for any home bought for price $80,000 or higher Available to buyers of single-family primary residences between Jan 1, 2009 and Nov 30, 2009 Available to anyone who has not owned a principal residence during the 3 years prior to purchase date -  Spouse can't have owned home either Income limit of $75K for individual and $150K joint (phases out at $95K individual and $170K joint) -  Income figure used is the last number on page 1 of the tax return Not a loan and does not need to be repaid No portion of the tax credit is due upon sale of the home if the home is owned for more than 3 years -  If home sold within 3 years, full amount of credit is due upon sale C...
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By William M. "Mack" Perry
(RE/MAX Center)
Recently I had a terrible experience with an appraiser. It seems as though the HVCC program has brought out the worst in the appraisal industry. Let me know what you think about this Bad Appraiser in Metro Atlanta.
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
Bottom or Bounce you Tell me? I feel Bonce .. Buyers are out adn trying to buy up anything to take advantage of the $8000 tax credit taht is schedule to End (NOVEMBER 30th Not DECEMBER 1st) and once that grease is off the wheels we will see a slow down in buyers and a raise in inventory resulting in a decease in "market values" - Great article from CBSNews.com In the last week, a slew of economic reports and news articles have suggested that the U.S. housing market has bottomed out. Don't believe it. More pricey areas, often in large metro areas, still have plenty of room to fall. You wouldn't know it from Tuesday's release of the National Association of Realtors' index, which showed that nationally pending home sales had increased from the levels of one month ago. Also on Tuesday, home...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
HUD Foreclosure. Multiple Homes Available! (Gwinnett County) HUD OWNED FORCLOSURE. Incredible Deals! Many are move in ready! FARMSTEAD COURT GRAYSON, GA 30017 3 Bed 2.5 Bath Built 2007 Price: $142,000 Rooms: Bonus Room, DR/LR Combo, Studded Bath, Exercise Room Kitchen: Breakf ast Bar, Pantry Energy: Double Pane/Thermo, Insulation-Ceiling, Water Heater-Electric Basement: Bath Stubbed, Entrance Inside, Entrance Outside, Full Amenities: Pool, Sidewalks, Street Lights, Tennis Courts, Undergound Utilities Cable TV Connections, Cable In Street, Foyer Entrance, Gas Logs, Pull Down Attic Stairs, Other Fireplaces: 1 Heating: Electric, Forced Air, Ceiling Electric Cooling: Electric, Ceiling Fan, Central, Heat Pump Equipment: Dishwasher, Disposal, Range/Oven, Alarm-Burglar, Alarm-Smoke/Fire, Satel...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
Looking For Something Fun To Do and enjoy some great local theater Check out Aurora Theater upcoming production of Buy My House .....Please By Gabriel  Dean Directed by Susan Reid  Promising young playwright Gabriel Dean shows us that laughter is the best way to weather the recession. Like so many young couples today, Tim & Joanna Lark, find that pregnancy, unemployment and foreclosure have put a strain on their marriage. The answer to their problems, Reality TV! The Larks need an Extreme Marriage Makeover or Tim will be Trading Spaces with The Bachelor.    
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
Centennial Olympic Park Day trips in Atlanta to Centennial Olympic Park can be a great way to relax. The park has multiple monuments and artwork to enjoy, as well as a fun Olympic-themed fountain which is perfect for cooling off on those hot Atlanta summer days. Across the street are the CNN studios, where travelers can take a tour of the studios and see how the news conglomerate works. or how about a trip to Six Flags Over Georgia One of the most popular day trips from Atlanta is a trip to Six Flags Over Georgia. The park is only a fifteen minute drive from downtown Atlanta, and the theme park is full of enough rides to last an entire day. During the summer, travelers can also head to the water park located right next door. The American Adventures/Six Flags White Water Theme Park featu...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
IT MAY SEEM EARLY BUT SOMETHINGS CANT BE STOP ONE OF THEM IS THE FIRST DAY OF SCHOOL  GWINNETT COUNTY SCHOOL CALENDAR SCHOOL STARTS AUG 10th  July 27-July 30 M-Th New Teachers Report (Days and times to be determined by schools to equal 1½ days) July 29 W Administrative Staff Meeting at the Instructional Support Center July 31 F New Teacher Orientation (Mandatory half-day orientation at the Gwinnett Center, 8:30 a.m.-noon; and 1-3:30 p.m. optional curriculum sessions.) Aug. 3 M Required State Safety Training {Bus drivers and monitors} Aug. 3-4 M & T Furlough Days {190-, 200-, 210-, 220-, 230-, and 240-day staff} Aug. 4-6 T-Th Furlough Days {Bus drivers and monitors, with exception of staff working Aug. 6, who will substitute Aug. 7 as furlough day} Aug. 5-7 W-F Required Pre-Planning/Staf...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
Tax Credit Provides Outstanding Opportunity for Home Buyers A tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase. 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. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the ...
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
The Georgia Dream Homeownership Program makes purchasing a home more affordable for low-to-moderate income families and individuals by offering fixed, low-interest rate mortgages loans. The program provides $14,000 to eligible borrowers purchasing foreclosed properties in eligible areas. Funds are disbursed in the form of a second mortgage lien with no interest and no monthly payments. The lien is released over a period of five years and six months. Funds may be used for required repairs and/or down payment assistance. This program begins April 1, 2009 and all funds must be disbursed by June 30, 2010
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By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
Things you can Buy During Georgia Sale Tax Holiday July 30 - August 2, 2009. During the sales tax holiday period, a sales tax exemption applies to purchases of tangible personal property in the following categories: Articles of Clothing. The exemption applies to articles of clothing and footwear with a sales price of $100 or less per item. Clothing accessories such as handbags, umbrellas, cuff links, handkerchiefs, jewelry, key cases, wallets, watches and watch bands, and ponytail holders and/or similar hair products are not exempt. See lists of exempt items. Personal Computers. A single purchase of $1,500 or less of personal computers and/or related accessories is exempt. If the single purchase exceeds $1,500, the entire transaction is taxable. See list of exempt items. General School ...
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