Housing Recovery on the Horizon?

Hey folks you know just the other day I was at the office and I could not help but over hear another agent battling with a bank to replace an incompetent…okay inept bank representative assigned to the short sale he was working.  After his called ended we engaged in some interesting dialogue that resulting in him showing me a email reply that he had received from that same bank. 

Without mentioning the bank, the email basically stated that the bank in the determination of the current market value of the property did not consider or utilize any foreclosures.  In fact the bank went on to say that while foreclosures are prevalent in the marketplace they are not significant enough to essentially impact or be the driving force of sales in the marketplace. 

Main Street to get Bailout?

Okay folks by a show of hands, “How many of us believed that the bailout of wall street helped stop another great depression?”  Hmmmm…..That’s what I thought!  Well, regardless of what your or my opinion may be on the bailout or the current administration and its policies….what about the notion of a bailout for main street?  No I’m not kidding!  Really? 

Check out this article from James Pethokoukis with Reuters:

Fayette County Deadline for Property Assessment Appeals is June 17th!

Hey Fayette County…a very important deadline is approaching quickly!  Property Assessment notices were sent out on or about May 3rd to all property owners in Fayette county by the Fayette County Board of Assessors.  It is their job to provide the fair and uniform appraisal of your property for the specific purpose of determining your proportionate share of taxes.  

Life After the Housing Tax Credit?

Okay Peachtree City, I apologize because it has been a minute since I’ve posted an article.  But honestly I have been swamped with assisting first time home buyers get their deals closed by the deadline which was April 30th.  After I finally got a chance to take a breather I had to stop and think about what would happen now that the tax credit is gone.  Did this initiative help stabilize our fragile economy or was it all just a waste of taxpayers monies to the tune of approximately $35 billion?

First-Time Homebuyer Credit Extension for Members of the Military & Certain Other Federal Employees!

  Hey Peachtree City……The Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, is about to sunset on April 30th.  To take advantage of the tax credit of up to $8,000 you must be under contract by April 30, 2010 and close by June 30, 2010.    

However, what you may not have know is that there were different guidelines for member of the military and certain other federal employees:

State of Housing in the US….Addressed!

Hey Peachtree City!  After listening to the President’s State of the Union address, I sat down and pondered about the actual state of the nation’s housing situation….or at least how I saw things from my porch.  Come on folks, is it just me or are there a number of other like-minded individuals that are of the opinion now that if Washington sneezes we are all going to catch a cold?  Alright, at least a sniffle.  I just did not seem to hear anything specifically related to doing something substantial that would give the housing & mortgage industries some much needed traction.   

It’s Almost That Time of the Year Again & New Changes for Tax Preparers!

Hey Peachtree City….welcome to 2010!  Sounds kinda funny saying 2010 but anyway there are some major changes already on the horizon and I thought I’d continue to feature them on my blog.  Some of these changes have been the result of a downturn in our economy and their direct correlation to its impact on the real estate market.  This tax year will be pivital in efforts to jump-start the economy with various initiative that were put in place for taxpayers like the 1st time home-buyers program or more sophisticated ones like the Workers, Homeownership, and Business Assistance Act of 2009.   

New RESPA Reglatory Changes go into effect January 1, 2010!

Happy New Year Peachtree City!  As we welcomed in the official beginning of the new millennium and a new decade the government also introduced some sweeping new regulatory reform changes that will pose a significant impact on the mortgage industry and everyone in the real estate profession. 

The Real Estate Settlement Procedures Act (RESPA)went into effect on January 1st.  I would be remiss if I did not also state that HUD will overseeing enforcement of these new rules and is stated to say that they will “exercise restraint in enforcement” giving lenders an opportunity to make a good faith effort to comply with the new regulations.

First-Time Home Buyers Tax Credit Extended!!

Hello again Peachtree City!!  As the dust finally settles….the Senate finally decided not only to extend the tax credit but to expand it as well!  

Yes, you can exhale now, especially all you folks that waited until the last minute to take advantage of the credit.  Legislation passed on Wednesday, November 4, 2009 which will  extend the much debated $8,000 first-time home buyer tax credit.  Also included in the Bill was the establishment of a new $6,500 tax credit for “move-up” buyers!  

Note from Sen. Johnny Isakson: Support of Extension of 1st Time Home-Buyers Tax Program!

Hello again Peachtree City!  You probably didn’t know this but I have been a proponent for gaining the support from our elected officials related to getting an extension of the 1st Time Home-Buyers program.  My efforts went so far as to send personal letters to both Senators Saxby Chamblis and Johnny Isakson asking for their positions on pending issues and continued support on others. 

Folks, I would be remiss if I first didn’t state that I received responses from both Senators.  I thought I’d share the response I receive from Sen. Johnny Isakson which acknowledged his efforts as co-sponsor of the Bill to extend the tax credit to 2010.  What you may not have known is that he also fully supports a Bill that would also create a $15,000 tax credit for all home buyers. 

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