Hi All.
Please see this link for up to date info on extending the first time homebuyer tax credit. It’s not a done deal, but it looks promising. The proposed legislation would include repeat buyers, and this addition will surely result in better housing stock to choose from (Ask any realtor, and they will tell you about the shallow pool of good housing stock out there, especially in the 100-200 range in Clarke and Oconee Counties). I also think this means the traditional buying season will open earlier, so to speak, since the deadlines say you must be under contract by April 30th and closed no later than June 30th. Yikes!
The buying season in Athens, GA regional area typically really gets cranking in February, so in this case you may want to start your hunt during the holidays or at least use the holidays to get your financing ducks in a row. Make a plan. Be ready to pounce when the right house comes along because if you found it, so did four other buyers just like you. We might even see an attendant modest bump in home prices along the way. I am guessing a slew of listings will hit early Jan instead of February or March. Let’s hope the interest rates continue to hold low.
If you are selling a home in the Athens, GA area, get your home ready right now. Don’t wait. Don’t know what to do to get started? Contact a realtor to help you figure things out. He/She should be able to give you an indication of potential sale ranges if you a) do nothing to your house b) do a little to your house c) do a lot to your house. If you end up deciding to do more extensive work like replacing that aging roof or HVAC system and water heater, you will need that time as well. I will post later this week about the things that really help an older home sell in this area.
Excellent piece on short sales on NPR today. Hits the nail squarely on the head, and at this risk of sharing this with the millions of readers of this blog, resulting in a grinding halt to the economic turnaround currently being propelled by the 8000.00 fed tax credit and the new 1500.00 state tax credit, I will share it with you now. But please, if you choose to avoid short sales after this, go ahead, but don’t avoid the market altogether! The country needs you, buyer! 
The Georgia Homebuyer Tax Credit Has Arrived!
I thought you might be interested to know that as of yesterday, Governor Perdue signed House Bill 233 into law essentially freezing all property tax assessments in Georgia for 3 years. Effective January 1, 2009 through 2011, counties may not increase the value of any property, even when that property is sold, subject to a few exceptions:
If you listen to the talking heads in the media these days, you’d think there were foreclosures on every corner of every neighborhood, like gorgeous low hanging fruit in mid-summer. Let me set the record straight: Nothing could be farther from the truth.
In the Athens area, the buyers purchasing in the 100-200k range are driving the market, due in part to incredibly low interest rates and the 8000.00 tax credit. Fortunately, I have been working with a number of buyers in this range this Spring. That’s the good news. But here’s the challenge: finding my clients good properties to call home. Make no mistake about it, there homes out there, to be sure. A quick MLS search in the Athens five county area shows 833 single family properties listed between 99900.00 and 199900.00. And this doesn’t include FSBO’s. But too many of these properties are not worthy of consideration in my opinion. Many are very risky foreclosures. Then there are the un-maintained homes that need roofs, HVAC, water heaters, interior/exterior paint, updated baths and kitchens. 
Despite all the not posting I have been doing, the world continues to present an increasing number of interesting topics worthy of comment.
A couple days ago, The National Trust for Historic Preservation announced its 2009 list of a dozen unique cites to visit for a less than usual travel experience.
poignant/memorable when he is hanging out with the locals.
By the way, those of us who own homes in ATH never complain about the effect coverage like this has on our investments.
January is National Radon Action Month. Radon is a naturally occurring radioactive gas caused by the breakdown of radioactive materials, mainly uranium, within the earth. Radon is the second leading cause of lung cancer in the United States and the leading cause of lung cancer among non-smokers. If you are a smoker, your radon risk is much greater.
