Alpharetta- a Georgia Green Community

John Monson of the Alpharetta City Council forwarded the following press release yesterday issued by the Atlanta Regional Commission, and I wanted to share it with you!

The City of Alpharetta has been awarded bronze-level Green Community Certification by the Atlanta Regional Commission. The certification as an ARC Green Community is the result of policies that the City Council adopted earlier this year, along with hard work by our Community Development, Engineering/Public Works and Finance Departments. These efforts have made Alpharetta a recognized leader in environmental stewardship and will have lasting positive impacts on our community. The policies implemented to earn this designation make sound fiscal sense and provide a return on taxpayer dollars in addition to being the right things to do for our environment. Alpharetta is one of only 3 communities in Georgia to earn this designation.

Congratulations to My Sweet Home, Alpharetta! It's a great, GREEN place to live!

A Good Old-Fashioned 4th of July!

I know I'm prejudiced, but I love my neighbors- and my neighborhood, Greenmont Walk!
Several of the neighbors organized our Second Annual 4th of July Barbecue in the cul de sac, and it was just the perfect way to celebrate the day.
Under the shade of a stately oak tree, friends gathered to share food and fun with a festive, patriotic theme.
Warren did a fabulous job manning the grill, and everyone brought their favorite dish to share. Children played in the safety of the cul de sac and waited excitedly for the sunshine to turn to dusk, so they could light their sparklers. Even Moms and Dads and Grandmas and Grandpas could be seen twirling the brightly lighted magic sticks! Finally, it was time for the Big Fireworks Show to begin. (We are fortunate to be able to watch The Alpharetta Fireworks Display right from our lawn chairs in the cul de sac!) No matter how old we are, when it's time for fireworks, we are all kids again!
Thanks to Warren and Colette, Trey and Jenny and Amy and Tim for organizing such a fun time for everyone. I know the children will remember these special times when families had fun together just hanging around in the backyard!

Alpharetta Girls Night Out!

Attention Ladies!

While strolling through the Alpharetta Farmer's Market this morning, Carol Anderson-Wood of Colonial Bank, stopped making her delicious fresh-squeezed lemonade long enough to tell me about the upcoming GIRLS NIGHT OUT, scheduled for Thursday evening, June 25th from 4-8 p.m. Lots of downtown shops are participating in the fun, including The Cannery, galerie Boutique, Courture Consigner, Twigs & Lace, Savvy Snoot, Ivy Interiors, Southern Comforts, Monfort's Gallery, and Arbor House Interiors. AND there is a FREE Drawing for a $150.00 gift card!

So, gather up your BFF's and head to downtown Alpharetta on Thursday night!

Hope to see you there!

Linda

Real Estate- It's Always Been a Great Investment

"Real Estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full and managed with reasonable care, it is about the safest investment in the world."

Who said it? Franklin Delano Roosevelt (1882-1945)

It just goes to show that we shouldn't be afraid to buy that house or piece of property, especially now when prices are as low as they've been in a long, long time.

Think about it!

Have a wonderful, fun Memorial Day weekend!

Linda

RED DAY- Keller Williams North Atlanta Gives Back

Watch and listen as Realtors from Keller Williams North Atlanta spend the day on a volunteer Extreme Home Makeover in Alpharetta!



I'm so proud to be part of a company that really cares about our neighbors and neighborhoods.

Breaking News- Georgia State Tax Credit

You read it here first! Thanks to Christine Witzel, Suntrust Mortgage, for this latest update.

Here is the current HB 261 bill in a nutshell- what it takes to qualify for the added State Tax Credit in addition to the existing Federal Tax Credit.

1) The tax credit applies to single-family homes and condos if purchased as your primary residence.

2) The property must be for sale prior to the effective date and still for sale after the effective date (May 11, 2009) OR

3) The property must be in default on or before March 1, 2009 or has already been foreclosed and is held by a mortgagor.

4) On the first day of the month after the effective date of the law, the purchase of a home meeting the criteria above within the next six months would be eligible for the tax credit.

5) The tax credit is limited to 1.2% of the purchase price or $1,800, whichever is less.

Here is the tricky part-

6) You can only claim, at most, 1/3 of the tax credit in any one year, beginning with your 2009 tax return.

7) One final caveat: If you're purchasing a home, be sure to request a copy of the necessary documents to maintain for your tax records to document how the home qualified for the tax credit, whether it is because it was listed prior to the effective date OR because it was delinquent or had been foreclosed.

8) This is NOT limited to first-time home buyers.

Any questions? e-mail me at Linda@LindaSchulteHomes.com
or contact Christine at www.suntrustmortgage.com/witzel.

REO's, BPO's and other Foreclosure Terminology

Over the past year or so, those of us in Real Estate have become more and more accustomed to using certain acronyms that describe the current state of affairs in our business. Sadly, 60% of our current inventory of listed homes are considered distressed sales.

Since I just spent two days in class last week to become a specialist in the field of REO's, I thought I would tell you about this all-too-familiar term. REO stands for "Real Estate Owned". These are properties that have gone through the foreclosure process without a successful sale and have gone back to the bank or lender. Typically, the owner has already left the home, because he or she could not afford to pay the monthly mortgage. Now, the bank has the burden to market and sell the property for the highest possible amount. We in Georgia are one of the top 10 states in foreclosure activity.

One of the first things a bank does when taking possession of a foreclosed property is to order what's called a BPO or Broker Price Opinion. The lender may be in California and the property is here in Georgia. The BPO is what gives the lender "the truth, the whole truth, and nothing but the truth" about their reacquired asset. A licensed local realtor is hired by the bank to inspect the property, research comparable sales and write up a report including pictures. The realtor is the "local eyes and ears" of the bank. He or she recommends needed repairs, estimates how much those repairs will cost, and tells the bank what is going on in the local real estate market.

Sometimes, this same local Realtor is hired by the bank to manage the property and list it for sale locally. The Realtor is then responsible for getting repairs done while protecting the bank's asset until it sells. The management team might then include a home inspector, a contractor, an attorney, and a landscaper. Sounds like a lot of work, doesn't it?

And you thought Realtors just drove people around to look at houses! Realtors are in a critically important spot right now to help get bank-owned properties sold and back in the hands of individual homeowners. The faster we can do that, the better off we all will be. Our neighborhoods will look better and our cities and counties will be stronger financially.

Enough for today! I will continue with more foreclosure information in my next post.

If you have questions about short sale, foreclosure, or any other confusing real estate situation, please feel free to comment or call or e-mail me.

Linda

Linda@lindaschultehomes.com

770-286-1560