Athens GA Properties, Athens Georgia Homes, and Athens Real Estate

Entries categorized as ‘athens’

Athens GA Christmas Parade 2008; Schedule and Video from last Year

November 19, 2008 · Leave a Comment

 

 

We are getting closer to that time of year again! In Down Athens on December 4th, 2008, at 7 p.m. you will find the “Athens Parade of Lights” as put on by Athens Leisure Services. Get there early to get a good spot as crowds will line the streets!

Enjoy a video of last year’s parade along with pictures on the links below;

Athens Christmas Parade Video on YouTube

Athens Christmas Parade Pictures 2007

Parade Route 2008!

Categories: athens · athens ga christmas parade · christmas parade · ga
Tagged: , , , , , , , ,

Survey Reveals Sellers Willing to Set themselves apart through Being Green

November 17, 2008 · Leave a Comment

Apparently Living Green is rubbing off on people around the country in a larger way. According to the Better Homes and Gardens Real Estate “Living Green” Consumer Survey almost 50% of homeowners would spend $2,500 or more on greening up a home for resale.

According to Better Homes, “A survey conducted at home shows in 15 cities across the country gauging consumer environmental practices suggests that many Americans are going green when it comes to their homes. Despite “cost” being singled out by 36 percent of respondents as the greatest impediment to going green, half of those surveyed have paid more money for an energy efficient product in the past 12 months and one in three homeowners (30%) claim they would be willing to spend $5,000 or more on green improvements to increase a home’s appeal to potential buyers. The findings are the result of the Better Homes and Gardens Real Estate Living Green Consumer Survey.”

These sellers are quite right in their assumptions. In a Buyers’ market like we find ourselves in today, there has to be some way to make yourself different. To set your house apart from the competition is key, and Green Living is making a strong headway now a days with concerns over the environment.

“As their environmental awareness grows, American homeowners are beginning to take action on green issues and are willing to spend their money accordingly,” explained Sherry Chris, president and CEO, Better Homes and Gardens Real Estate. “These survey results confirm homeowners are identifying greater value in green and when the time comes to sell their homes, they will look to convert high consumer awareness levels on the green issue into a market differentiator.”

Categories: athens · athens ga properties · green living · green living athens ga · homes in athens ga · living green
Tagged: , , , , , ,

When Buying Makes Sense

October 8, 2008 · Leave a Comment

The housing market has never been better for many potential buyers. In fact, in many U.S. metro areas it’s more affordable to buy than rent.

The National Low Income Housing Coalition reports that in 57 out of the 100 most populated metro areas, renting a three-bedroom home is more expensive than monthly costs on a six percent mortgage for a typical low-priced house in the same area.

Of course, buyers with strong credit are best positioned to take advantage of today’s opportunities. A high credit score will yield a lower interest rate and increase the likelihood that a loan application will be approved.

For example, a buyer with a 6 percent mortgage will pay a third less per month than a buyer who has a loan at 8 percent. This difference can be hundreds of dollars per month.

As a Realtor® I have had the opportunity of interviewing former renters who recently became homeowners to learn what factors influenced their decision to buy instead of continuing to rent.

The top reasons that seem to arise as to why you should own your own home usually begin with tax breaks. The Tax Code allows a deduction of the interest paid on your mortgage, your property taxes, as well as some of the costs involved in buying your home such as points.

Also, as you build equity in your home you have a ready-made “currently tax-free” savings plan. When you sell, you can take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax. This can be taken advantage of through the sale of your primary residence every two (2) years.

Depending on what area of the country I made this next statement I might be run out of town on a rail, but real estate has long-term, stable growth in value. That’s right. In the long-run appreciation has been a constant in the housing market.

While yearly price fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

Let me refer you back to my column a few weeks ago entitled, “A ‘Case’ of Exaggeration,” where I referred to MSN Money Staff figures that showed our area actually was the 15th best performing market according to MSN in the past year compared to 300 other metro areas in the United States with appreciation during the last one, three, and five-year periods through June of this year.

The next reason that my clients have told me that they decided to buy versus rent is that money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

Unlike the life of a tenant where rent payments can and usually do go up, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

Finally, the biggest benefit I hear from former renters is the ability to remain in one neighborhood for several years which gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

In the end, the advantages seem to outweigh any disadvantages. Homeownership is still the American Dream. At least it is in the Greater Athens area!

Categories: athens · athens ga properties · homes in athens ga · the oconee leader · when buying makes sense
Tagged: , , , , , , , ,

How Much Home can you Afford?

October 8, 2008 · Leave a Comment

The single most important part of buying a house is figuring out how much you can realistically afford to pay. You’ll have to take a good look at your budget, debts, credit reports, and credit score (check out myfico.com). Once you have a good picture of your financial status, start saving as much money as you can for a down payment, closing costs and other extra expenses that come along with buying a house. Extra expenses could include paying for a home inspection (around $200 – $350 depending on where you live) or hiring a moving company after the sale is final.

Depending on the condition of your finances — if you have a lot of debt, errors on your credit report, or a low credit score — getting ready financially could take six to 12 months or more! If your credit score falls below 680, lenders may see you as a risky borrower. It might be worth your time to take a year and work on building a better credit report before taking on the responsibility of a mortgage. Also, if you qualify for a lower interest rate you could save thousands of dollars over the life of the loan. Be wary of companies that offer to repair your credit for a fee. There are exceptions. FHA has come to the rescue by providing loan guidelines that allow low down payment loans with comparable rates to “conventional” mortgages for first time homebuyers.

There are a few basic formulas commonly used by lenders to determine how much of a mortgage you can reasonably afford. These formulas are called qualifying ratios because they estimate the amount of money you should spend on mortgage payments in relation to your income and other expenses. It is important to remember that these ratios may vary from lender to lender and each application is handled on an individual basis, so the guidelines are just that – guidelines.

Generally speaking, to qualify for conventional loans, housing expenses should not exceed 26 to 28 percent of your gross monthly income. Monthly housing costs include the mortgage principal, interest, taxes and insurance.

For example, if your annual income is $60,000, your gross monthly income is $5,000 and $5,000 x 28 percent = $1,400. So you would probably qualify for a conventional home loan that requires monthly payments of $1,400.

IT IS IMPORTANT THAT YOU SELECT A HOME THAT WILL MEET YOUR FAMILY’S NEEDS AND KEEP YOU HAPPY FOR YEARS TO COME.

When budgeting to buy a home, it is important to allow enough money for additional expenses such as maintenance and utilities. If you are purchasing an existing home, gather utility cost averages and maintenance costs from previous owners or tenants to help you better prepare for homeownership.

Generally speaking, if your finances are in decent shape, you could look for a home priced at two to three times your gross yearly salary. And while using mortgage calculators can give you a rough idea of how large of a mortgage you might qualify for, talking to a lender in person will give you a more accurate figure.

Tax Benefits of Homeownership

The tax deductions you’re eligible to take for mortgage interest and property taxes greatly increase the financial benefits of homeownership. Here’s how it works.
Assume:

$9,877 = Mortgage interest paid (a loan of $150,000 for 30 years, at 7 percent, using year-five interest)
$2,700 = Property taxes (at 1.5 percent on $180,000 assessed value)
______

$12,577 = Total deduction

Then, multiply your total deduction by your tax rate.

For example, at a 28 percent tax rate: 12,577 x 0.28 = $3,521.56
$3,521.56 = Amount you have lowered your federal income tax (at 28 percent tax rate)

Note: Mortgage interest may not be deductible on loans over $1.1 million. In addition, deductions are decreased when total income reaches a certain level.

The tax deduction is a difference you also have to take into consideration, especially if you are currently renting. Because of tax deductions, you can make a mortgage payment — including taxes and insurance — that is approximately one-third larger than your current rent payment and end up with the same amount of income.

In the end, consult a mortgage or other lending professional who you trust. Get their input before you start house shopping. Then you will be ahead of the curve and more able to make a stronger more confident offer when that right property appears with an approval letter in hand.

Categories: athens · athens ga properties · home buying how much can you afford · homes in athens ga · how much can you afford
Tagged: , , , , , , ,

Quick Common Sense Principles to Help a Home Sell

October 3, 2008 · Leave a Comment

1. Pay special attention to the front door. It’s the first impression buyers have of how well the sellers have taken care of the rest of the property. Make sure the area around the front door is swept clean, free of cobwebs and clutter. Make sure all lighting is straight and properly hung. Better yet, light the path leading up to the front door to create an inviting atmosphere.

2. Keep the toilet seats down and close the doors to bathrooms.

3. The master bed should be farthest from and facing toward the entryway of the room. It’s even better if you can place the bed diagonally in the farthest corner. Paint the room in colors that promote serenity, relaxation, and romance, such as soft tones of green, blue, and lavender.

4. The dining room table is clear and uncluttered during showings. Use an attractive tablecloth to enhance the look of the table while also softening sharp corners.

5. The windows should be professionally cleaned which will make the home sparkle and ensure that the view will be optimally displayed.

Categories: athens · athens ga home selling principles · athens ga properties · athens georgia · home selling principles · homes in athens ga
Tagged: , , , , , , ,

What is a Home Warranty and what does it cover?

October 2, 2008 · Leave a Comment

A home warranty is a service contract, normally for one year, which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.

Check your home warranty policy to see which of the following items are covered. Also find out if the policy covers the full replacement cost of an item.
Plumbing
Electrical systems
Furnace
Water heater
Heating ducts
Water pump
Dishwasher
Garbage disposal
Stove/cooktop/ovens
Microwave
Refrigerator
Washer/dryer
Swimming pool (may be optional)

Source: American Home Shield, www.ahswarranty.com, REALTOR® Benefits Partner

Categories: athens · athens ga properties · home warranty · home warranty in athens ga · homes in athens ga
Tagged: , , , , ,

Can a Comparative Market Analysis Help You?

September 17, 2008 · Leave a Comment

To get the most accurate estimate of how much you should list your property for, your real estate agent can provide you with a Comparative Market Analysis (CMA). A CMA is an informal estimate of market value, based on sales of comparable properties in your area. It generally takes into account various aspects of your home, including size, features and annual costs. Reviewing comparable homes that have sold within the past year, along with the listing or asking price on current homes for sale, should help you determine a fair sale price for your property.

CMAs can include homes that are currently for sale and those which have recently sold. They can cover areas as narrow as one or two streets surrounding your home, or as broad as an entire subdivision.

Most real estate agents will give you a CMA for free, hoping you’ll list your home with them. Each CMA contains valuable information on several recent sales, including:

*How long each property stayed on the market

*How close the sale price was to the asking price

*Notes comparing each home to yours, i.e.; number of
bedrooms and baths, approximate square footage, sizes of
major rooms, amenities such as fireplaces and pools, age of
the home, property taxes and more.

The CMA is an informative selling tool, but like any tool, it doesn’t work by itself. For this reason, the CMA will always need to be interpreted by a professional or with complete objectivity by the seller or buyer.

Remember, too, that the CMA is also a buying tool; it is considered just as seriously by the buyer and his or her agent. As you and your agent are going to use the CMA to ask the highest possible price for your home, the buyer is going to use it to find reasons to either choose or eliminate your home, and to arrive at the lowest price possible.

Categories: athens · athens ga home value reports · athens ga properties · cma · comparative market analysis · home value report · homes in athens ga · watkinsville ga
Tagged: , ,

5 Factors That Decide Your Credit Score

July 12, 2008 · Leave a Comment

Credit scores range between 200 and 800, with scores above 700 generally considered desirable for obtaining a mortgage. The following factors affect your score:

1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.

2. How much you owe. If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits.

3. The length of your credit history. In general, the longer you have had accounts opened, the better. The average consumer’s oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.

4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.

5. The types of credit you use. Generally, it’s desirable to have more than one type of credit — installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, visit www.myfico.com.

Categories: athens · credit scores · factors that decide your credit score
Tagged: , , , ,