DEADLINE TODAY!

Well...at long last it has finally arrived! "What", you say. The deadlines for the tax credits. The $8,000 First Time Home Buyer Tax Credit and the $6,500 Move Up Tax Credit we've been talking about for months expires today!

Although I have had many buyers take advantage of the tax credit, I suspect that there will be some folks who will miss the Federal Tax Credits because they believe the credits will be extended again.

As of today, Congress has made no mention of proposing another extension of these home-buyer credits. In fact, many decision makers in Washington believe that the tax credits have been available long enough to produce the maximum results possible. They also feel its time to redirect these tax dollars toward other programs that could further stimulate the economy and help with unemployment. Many of the current tax credit bills involve offering tax incentive dollars for the creation of new jobs.

If you have failed to get a property under a "Binding Agreement" contract by today, you will have no chance of receiving the tax credit. As they say, Your time is up! I hope you were able to take advantage of the home buyer tax credit opportunities. I am sorry to say that I truly don't think they will be reinstated.

Regardless, you can still get a great buy on a house. We are still in a buyers market. Home prices are still very low. Interest rates are still hovering around the 5% mark. Life is good!

If you are considering the possibility of purchasing a home, I strongly suggest that you take advantage of this opportunity before interest rates begin to rise. Please call me. I can be reached anytime at 770-399-8108. E-mail me at sara@sarahibbard.com or visit my websites located www.sarahibbard.com OR www.sarahibbardrealestate.com. I will be happy to help you find your "ideal" home when the time is right for you.

If It's Wednesday It Must Be Market Conditions Wednesday - Focus on Alpharetta!

If it’s Wednesday, it must be MARKET CONDITIONS WEDNESDAY.

This week the focus is on the City of ALPHARETTA.

Each Wednesday, I provide a market snap shot of current market conditions affecting specific cities in the Atlanta metro area.

Let’s take a look this week at details and ACTIVE, PENDING, SOLD statistics in ALPHARETTA.

According to the latest FMLS data and as I write this, there are currently 73,838 homes on the market in the entire Atlanta metro area. As you may recall, last week at this time there were a total of 72,831 homes on the market in the entire Atlanta metro area. So there are 1,007 more homes on the market this week than there were last Wednesday.

Likewise, as I write this, there is a total of 1,201 single family homes on the market in ALPHARETTA and a total of 404 condo/town-home properties available and actively listed in Alpharetta, GA.

Actively Listed Single Family Homes
Currently listed Alpharetta single family homes range in price from $75,000 for a "fixer-upper" home with 4 bedrooms /2.0 bathrooms which was built in 1985 to a $6.9 million gated estate home on Providence Way with 7 bedrooms / 8 full and 2 half bathrooms. The property sits on 28 acres, and features a guest house, resort pool, tennis, stables and much more.

Actively Listed Condo/Town Homes
Active Alpharetta condo/town home properties range in price from $59,900 for a spacious 2 bedroom / 2 full bathroom town home, built in 1985, available for a possible short sale located in Rivermont Village to a newly constructed property in Haynes Park with 3 bedrooms / 4 full and 1 half bathrooms priced at $589,900.

Pending Sale
Currently there are 217 single family homes pending sale in Alpharetta with prices ranging from $77,000 for a 4 bedroom/1 full and 1 half bath "fixer-upper" to a 6 bedroom / 6 full and 2 half bathroom home in Citadella for $1.7 million.

SOLD Properties (3/1/2010 to 4/28/2010)
It might interest you to know that from March 1st through April 28th there were a total of 164 homes sold in Alpharetta.

Lowest Priced Home SOLD in Alpharetta during the period was originally priced at $94,900. It sold after 16 days on the market for 105% Sold Price to Original List Price for $100,000.

Highest Priced Home SOLD in Alpharetta during the period was originally priced at $1.739 million and sold for $902,425 or 52% Sold Price/Original List Price (SP/OLP%). The property was on the market 924 days and closed on 3/31/2010.

So, as you can clearly see homes are selling in Alpharetta! Please call me with your many questions regarding the Alpharetta and Atlanta metro area real estate market in general or specifics regarding the buying / selling process. Please call me if you see a home that peaks your interest or if you are considering the possibility of selling your current home. I look forward to helping you and your family realize your real estate dreams.

In the meantime please visit me at www.GeorgiaRealEstateOnMyMind.com, e-mail me at sara.hibbard@metrobrokers.com or CALL ME ANYTIME at 770-399-8108!

Why Should Buyers Use A Realtor®?

Why Buyers Should Use A Realtor®

Many times buyers avoid using the services of a REALTOR under the mistaken belief that it costs them money - or that they will be able to negotiate a better deal directly with the seller or seller's real estate agent. This can be an expensive mistake when buying a home. If you are negotiating directly with the seller or seller's real estate agent, you may not be taking advantage of the best value available in the market today! You can have your own REALTOR, a Buyer Broker or Buyers Agent, who is committed to using the experience gained through hundreds of successful real estate negotiations for your benefit at no charge to you!

An experienced Realtor can help you avoid costly mistakes, find the best home value, and make your home buying or relocation experience an enjoyable, stress-free one!

When viewing homes for sale, it is important for homebuyers to know and understand for whom the agent helping with the house hunting is actually working. The agent may be working as a sub agent - representing the seller's best interests during negotiations - or as your agent representing your best interests during negotiations. If you are not sure who your agent is working for - ask for clarification. Realtors must fully explain agency. When negotiations commence, wouldn't you want to know whether information you divulge will be used for the seller's benefit - or yours?

The contract you sign to buy or sell a property is a complex and legally binding document. An improperly written contract can allow the purchaser or seller to void the sale, or cost you thousands of unnecessary dollars. Have an experienced Realtor who knows the "ins and outs" fully explain the contract you are about to sign to you, or have your lawyer review it before acceptance.


A buyer's representative will:


Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
Assist the buyer in determining the amount that they can afford (pre-qualify), and show properties in that price range and locale.
Assist in viewing properties -- accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure that the identified specifications are met.
Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property.
Advise the buyer on structuring an appropriate offer to purchase the selected property.
Present the offer to the seller's agent and the seller on the buyer's behalf.
Negotiate on behalf of the buyer to help obtain the identified property -- keeping the buyer's best interests in mind.
Assist in securing appropriate financing for the selected property.
Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed.
Most importantly, fully represent the buyer throughout the real estate transaction.

FAST FACTS!

A National Association of Realtor's survey shows first-time home buyers purchased 44 percent of homes SOLD in March, up from 42 percent in February.

RISMEDIA reported this week that interest in the federal home buyer tax credit surged in the first three months of 2010, with the FederalHousingTaxCredit.com website reaching a milestone 10 million visits. Spurred by a sense of urgency as the credit's April 30th expiration date approaches, the site has logged about a million visits each month in January, February and March. The National Association of Home Builders (NAHB) created the site in July 2008.

“FederalHousingTaxCredit.com provides authoritative, unbiased information about the home buyer tax credits and has proven to be a valuable resource for consumers, members of the housing industry and others,” said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. “NAHB went live with the site the same day the credit was signed into law in 2008, and it quickly became the Internet’s premier source of information about the credit.”

The $8,000 first-time home buyer credit and the $6,500 repeat buyer credit will expire on April 30. However, if buyers sign a sales contract by April 30, the IRS gives them an additional two months—until June 30, 2010—to close the sale of the home.

The site has recently been updated with a new section on the special rules that apply to the military, the foreign service and members of the intelligence community. For qualified service members who are ordered on a period of official extended duty, the dates are extended for one year, through April 30, 2011.

“Home buyers need to remember that even though the tax credit is about to expire, conditions remain ideal to buy a home,” said Jones. “There are plenty of existing homes on the market, interest rates are at near-record lows, and prices are very competitive.”

For more information, visit www.FederalHousingTaxCredit.com.

Why Sellers Should Use A Realtor

Why Sellers Should Use A Realtor

Home sellers are often the ones who perceive that a Realtor is an expensive "extra" or "necessary evil". However, they stand to lose the most by opting to go it alone in a real estate transaction. Several years ago a home in Atlanta could sell with a simple yard sign in the yard. Selling a home in today's market requires much more creative teamwork to get the job done.

A professional Realtor is experienced in analyzing your home's location and condition relative to the prevailing market. Because they know the area, Realtors can assess your specific home in light of current competition in order to price it strategically and promote it confidently.

Your home represents a huge investment of time and money. In any selling situation, the Buyer's interest will depend upon their perceived value of the "product".

Professional Realtors are aware of highly-desirable home features as well as the "deal-killers" in the market. They will help you emphasize the most advantageous ones while minimizing those which might delay a sale. If there are products which have been the target of lawsuits, they can help you find suitable repair people whether you decide to repair it now or have the numbers available for a future Buyer. Often a few dollars spent today will greatly increase your home's perceived value -- and a Realtor can help guide that decision.

As in any business transaction, time is money. In real estate, the rule of thumb is that the longer your house is on the market, the less it will sell for. Buyers perceive that something must be wrong with a home which has been on the market for more than a month or so and their offering price will reflect their suspicion.

Also, consider that approximately 40% of real estate sales in the Atlanta area are relocation purchases. This is the hottest part of the market, with buyers flying in with cash and motivation from their employer. These buyers don't sit in their hotel room looking at for-sale-by-owner ads. Instead, they ride around with a Real Estate agent searching for a new home. That real estate agent will likely only show them homes listed for sale with other agents. A Realtor's ability to market your home to the widest variety of potential Buyers gives you the best chances of reaching that perfect Buyer as soon as possible.

Additionally there are the "hassle factors" involved in selling a home yourself. Factors such as being available to show your home at a Buyer's convenience, holding an Open House on a regular basis, knowing which terms will be to your best advantage in a contract and implementing those terms in a timely manner are just a few issues you will be faced with if you decide to go it alone - with no Realtor support or representation. Hiring a professional Realtor to represent your best interests will not only protect your wallet...it may save your sanity too.

By utilizing the services of a capable real estate agent, sellers can rest easier knowing they have greatly increased their chances of selling their home for the most advantageous terms in the shortest possible time on the market.

What About Foreclosures in the Atlanta Metro Area?

Atlanta Metro Area Foreclosure Activity Climbs in February
By RealtyTrac Staff
Metro area filings increase 12 percent from January

Foreclosure activity in the Atlanta metro area rose in February to 9,096 properties with foreclosure filings, up 12 percent from the previous month and 14 percent ahead of the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

“The Atlanta metro area reported another hike in foreclosure activity in February, continuing the region’s trend toward an elevated level of activity compared to last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment in Georgia continued its climb toward 11 percent, with an estimated two thirds of job losses attributed to the Atlanta area, causing concern for struggling homeowners hoping to hold onto their homes through this time of national recession.”

The Atlanta metro area had the seventh highest foreclosure total in the nation among the top 203 large metro areas with populations exceeding 200,000 surveyed every month by RealtyTrac. One in every 237 Atlanta metro area housing units received a foreclosure filing in February, ranking 33rd among the same 203 metro areas in terms of foreclosure rate.

Walton County posts top foreclosure rate in the metro area for February
With one in every 139 housing units receiving a foreclosure filing — three times the national average and 2.4 times the state average — Walton County posted the metro area’s highest county foreclosure rate in February. Newton County was second, with one in every 140 housing units receiving a foreclosure filing — three times the national average and 2.4 times the state average. Carroll County came in third highest, with one in every 148 housing units receiving a foreclosure filing — 2.8 times the national average and 2.2 times the state average.

Fulton County led the metro area in total foreclosures in February
Fulton County led all metro area counties in foreclosure activity for February, totaling 1,649 properties with foreclosure filings. Gwinnett County was second, documenting 1,452 properties with foreclosure filings for the month. Reporting 1,138 properties with foreclosure filings, Dekalb County ranked third. Cobb County came in fourth, reporting 994 properties with foreclosure filings. The fifth highest total was in Clayton County, where 508 properties with foreclosure filings were reported for the month.

State ranked high nationally in total foreclosure filings for February
Georgia reported 12,177 properties with foreclosure filings for the month, giving it the seventh highest state total in the nation. This latest total represents an 8 percent increase from the previous month and is 20 percent above of the level reported in February 2009. One in every 331 Georgia housing units received a foreclosure filing during the month, the ninth highest state foreclosure rate in the nation.

State a significant contributor to nation’s monthly foreclosure total
Georgia accounted for 4 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 U.S. housing units received a foreclosure filing during the month.

Market Conditions Wednesday

Every Wednesday, I am going to provide a market snap shot of current market conditions affecting specific cities in the Atlanta metro area. Wednesday's will now be known as "MARKET CONDITION WEDNESDAYS", as I publish details about what is ACTIVE, PENDING, SOLD in one of Atlanta's major cities.

Let's start at the beginning of the alphabet today and highlight the city of ACWORTH.

According to the latest FMLS data and as I write this, there are currently 72,831 homes on the market in the entire Atlanta metro area. Likewise, as I write this, there is a total of 914 single family homes on the market in Acworth and a total of 95 condo/town-home properties available and actively listed in ACWORTH, GA.

Actively Listed Single Family Homes
Acworth single family homes range in price from $20,900 for a bungalow, ranch style "fixer-upper" home with 1 bedroom/1 bathroom which was built in 1936 to an estate home for $2.5 million in Governor's Towne Club.

Actively Listed Condo/Town Homes
Active Acworth condo/town home properties range in price from $39,900 for a spacious 2 bedroom / 2 full & 1 half bathroom town home, built in 1988, available for a possible short sale located in SweetBriar to a patio type home in Rose Arbor with 4 bedrooms/3 full bathrooms with a full finished basement for $349,900.

Pending Sale
Currently there are 196 single family homes pending sale in Acworth with prices ranging from $70,000 for a 3 bedroom/2 full bath "fixer-upper" to a 5 bedroom/4.5 bathroom home in Governors Towne Club for $775,000.

SOLD Properties (3/1/2010 to 4/15/2010)
It might interest you to know that from March 1st through April 15th there were a total of 146 homes sold in ACWORTH!

Lowest Priced Home SOLD in ACWORTH during the period was originally priced at $43,900. It was eventually reduced to $24,000 and eventually sold for $20,000 after 85 days on the market. This was a "handy man special"! A major "fixer-upper" riddled with problems and in major need of repair. It was purchased by an Investor. This property closed on 3/30/2010.

Highest Priced Home SOLD in ACWORTH during the period was originally priced at $999,000 and ultimately sold for $948,000 or 95% Sold Price/Original List Price (SP/OLP%). Seller paid $18,000 in closing costs. The property was on the market 24 days and closed on 3/5/2010. The property was located on Old Stilesboro Road NW and offered 4 bedrooms/4.5 bathrooms an featured an elegant 10+ acre gated estate complete with stables, pavillion and riding ring. The chefs kitchen featured top of the line appliances, a keeping room with vaulted ceiling, terrace level with theatre, bar, beautiful pool and patio.

So, as you can clearly see homes are selling in ACWORTH! Please call me with your many questions regarding the Acworth and Atlanta metro area real estate market in general or specifics regarding the buying / selling process. Please call me if you see a home that peaks your interest or if you are considering the possibility of selling your current home. I look forward to helping you and your family realize your real estate dreams.

In the meantime please visit me at www.GeorgiaRealEstateOnMyMind.com, e-mail me at sara.hibbard@metrobrokers.com or CALL ME ANYTIME at 770-399-8108!

Have You Taken Advantage Of The $8,000 First Time Home Buyer Tax Credit?

Here we are at the end of April!

Pollen season is in full swing in Georgia! The weather is improving. April 15th Tax Day 2010 has come and gone. The 2009 / 2010 School season will soon be a memory AND the $8,000 Tax Credit for 1st time home buyers will expire on April 30th for Binding Agreements! Have you taken advantage of the 1st time home buyer tax credit?

There is less than 2 weeks left for you to benefit from the tax credit. The clock is ticking! Interest rates are still hovering around 5%. It is not likely that the government will extend this tax credit. Current home owners are eligible for the $6500 home buyer tax credit. The only way to take advantage of the tax credit is to be under a binding written contract by April 30th and close by June 30th.

There is one notable exception to the deadline. Military families who are on a period of official leave can qualify for the tax credit for another year. Fore these homes buyers the tax credit applies to sales with a binding agreement in place on or before April 30, 2011 and closed by June 30, 2011.

Please call me to discuss your options and consider what this tax credit could mean to you and your family. I look forward to answering your many questions and assisting you throughout the home buying process when the time is right for you. Please call me anytime at 770-399-8108! I look forward to working with you to find your "ideal" home! Sara Hibbard, Better Homes and Gardens Real Estate Metro Brokers.

Atlanta Business Chronical Reports: 77% of Americans Expect Stable or Rising Home Prices

Seventy-seven percent of Americans expect home prices in their area to rise or stay the same in the next 12 months, according to a Gallup survey released Thursday.

The survey showed that 34 percent of Americans expect the average price of houses around them to increase in the next year, a 12 percent jump from last year and a sign that confidence in the residential real estate market is on the rise.

Gallup reports that 43 percent of Americans expect housing prices to stay the same in the coming year, a small increase from 42 percent last year.

In April 2009, the same Gallup survey showed that 63 percent of Americans thought housing prices near them would rise or stay the same. Confidence that prices will rise is strongest on the East and West coasts where 39 percent of people in each area surveyed predicted an increase in housing prices, compared to 34 percent of people in the South and 24 percent of people in the Midwest.

That confidence combined with low interest rates on government loans will mean more home sales in the short-term, Gallup said. Those sales, in turn, will stimulate the real estate market and larger economy.

Gallup’s survey found that 72 percent of Americans think it’s a good time to buy a new home, slightly more than last year — 71 percent— but 19 percent more than in 2008. Still the report highlighted the lingering issue of job creation as an obstacle to Americans feeling financially secure enough to buy a new home.

Is The Atlanta Metro Housing Market Picking Up?

What do you think?

Is the Atlanta metro area housing market picking up?

Well, I believe it is! I have written 4 contracts in the last 5 days -- all for 1st time home buyers in a price range of $119,000 to $217,500!

On Sunday, two of my listings -- a condo/townhome in Woodstock and a beautiful ranch style home in Lawrenceville conducted Open Houses. To see information on these two listings click on these links www.228VillageSquareDr.com and www.1280LogCabinWay.com.

Because of the Master's telecast on TV, as well as a beautiful spring day, I had my doubts about visitor traffic and a high turn-out. Regardless of my concerns, both properties experienced at least 5 groups each during the afternoon. Very good for a beautiful Sunday afternoon coupled with a major sports event on TV.

All visitors to Metro Brokers Open House's are automatically entered to win $1000 for their visits to an open house event on Open House Sunday which are held monthly on the 2nd Sunday of the month. In May, the next Open House event is scheduled for the 3rd Sunday in May -- since Mothers Day is the 2nd Sunday.

It is my experience that 1st time home buyers seem to be leading the way as they race to be under a Binding Agreement by the April 30th deadline.

Whether you are a 1st time home buyer, or you have been around the block a few times with experience, OR if you have a home to sell, please call me with your many questions. I look forward to assisting your real estate needs when the time is right for you. -- Sara Hibbard, 770-399-8108.