Alpharetta Cumming Lake Lanier Real Estate Blog: January 2007

The Alpharetta Department of Engineering/Public Works will be holding two public meetings at the Alpharetta City Hall Council Chambers located at 2 South Main Street.

On Tuesday, January 30th, 2007 at 7:00 pm. the public meeting will be to discuss the possible intersection improvements to Canton Street at the Mayfield Road Intersection.

On Tuesday, February 6th, 2007 at 7:00 pm the public meeting will be to discuss the possible intersection improvements to Kimball Bridge Road at the Waters Road Intersection.

Community comments and questions are welcome and encouraged. For additional information, contact Eric Graves at (678) 297-6200 or egraves@alpharetta.ga.us, or visit www.alpharetta.ga.us.

30-Year Fixed 5.78%
15-Year Fixed 5.55%
Jumbo (30-Year) 6.07%
5/1 ARM 5.58%

Alpharetta residents living in North Fulton County need to file your Homestead Exemptions by March 1st. The following exemptions are offered by the City of Alpharetta:

Basic Homestead Exemption of $20,000 off the assessed value of your tax bill; applied for through Fulton County.

Senior Basic Exemption of $15,000 to residents’ age 65 or older.

Additional $10,000 Senior Homestead residents 65 and older and meets certain income requirements.

Senior Full Value Exemption residents 70 and older and meets certain income requirements.

Senior exemption applications must be filed with the City of Alpharetta Finance Department at 2 South Main Street, Alpharetta GA, 30004.

For additional information on eligibility or proper method of applying, contact the City of Alpharetta at 678.297.6062. Or to download the 2006 Property Tax Guide, visit www.alpharetta.ga.us.

The Alpharetta City Center is a new project in downtown Alpharetta that will provide unique dining, shopping, entertainment and residential experiences. The site consists of approximately 7.5 acres in the heart of Downtown Alpharetta. The southern edge of the site runs directly behind the Publix grocery store on Old Milton Parkway. Construction is scheduled to begin this year! Visit www.alpharetta.ga.us for updates.

If you are like many home buyers in Forsyth County and the surrounding areas, you may be considering purchasing a newly built home in a swim/tennis community. Before you make your decision, there are a few things you need to remember.

1. Do not settle for the list price. New home sales have dropped even more than resales in the past year. Builders are sitting on homes that they need to sell. Negotiate!
2. Use a lender you trust. Builders will often offer to pay closing costs with a preferred lender. Many times I see a buyer fall for this, then end up paying a higher interest rate in the end. Bottom line on obtaining a mortgage: Use a lender you trust.
3. Pay for an inspection. Just because it's a new home, does not mean there are no construction errors along the way. A multiple stage inspection is ideal: Foundation, Framing & Final. Any major problems need to be presented to the builder & resolved. This will also give you an idea of how your builder will respond during the Warranty Period, after you've moved in. (By the way, make sure the builder offers a Warranty!).
4. Ask the neighbors. Don't be shy....ask homeowner's in the neighborhood how the builder rates. This is one of the best ways to find out your builder's reputation.
5. Bring your own Realtor. The on-site agent at the community represents the builder. Bring your own Realtor to represent you. It's the wisest decision you will make.

Please consider The Vanderhoff Team to help you succeed in your next Real Estate transaction!

To celebrate Lake Lanier's 50th Anniversary, the Marina Operators of Lake Lanier and the Marine Trade Association of Metro Atlanta are creating a series of events throughout 2007. There will be public activities and ceremonies all around the lake, including 50 days for 50 years where you can win prizes for being spotted with your special commemorative button this summer. For complete information, please visit the 50-year celebration website at www.lakelanier50.com which will be available shortly after mid-January. This website will be kept updated with all events & activities surrounding the celebration. Until this official website is live, please check with Lakeside on Lanier newspaper, a major sponsor of the celebration, at www.lakesidenews.com for additional information.

It's going to be an exciting year at Lake Lanier! Come and help us celebrate!

While most of us who decide to sell our home will use a real estate agent, some may consider selling on their own. There are many risks & obstacles to selling your own home that you should consider before deciding to take this route. Even as a Realtor, I would ask another agent to represent me. This alleviates a lot of emotional aspects of selling your own home, that can truly cloud your decision on price & negotiating. It gives you that objective viewpoint, as well as additional knowledge to ensure that the best price is achieved. But, of course, what else would an agent say? So, you decide for yourself.....Here are just a few of the most common potential downfalls of selling your own home.

Setting the Wrong Price - In the world of real estate, setting a good asking price is absolutely critical. Owners frequently have a difficult time setting a realistic sales price, even if they have paid for an independent appraisal. Impartially evaluating your home and all it's shortcomings (and selling points) is a lot to ask. An overpriced listing can linger on the market and necessitate later price drops. An under priced listing can either scare off wary buyers or can result in a closing price significantly below market value.

Under Exposure - Attracting serious buyers requires much more than a classified ad and a sign in the front yard. Many of the marketing avenues that agents utilize are costly or require resources that the average homeowner just doesn't possess. Between 75 and 80 percent of buyers use the Internet during their home search. Savvy agents come equipped with a strong Internet presence that draws online buyers to your listing.

Lack of Marketing Experience - Most of us are not practiced in the art of promotion, and don't possess a great deal of knowledge or perspective when it comes to marketing real estate. A skilled real estate professional knows the techniques to make your home competitive with comparable properties in the local marketplace.

Buyer Wariness - Some buyers will avoid a FSBO listing for fear either there is "something wrong" with the property or that the asking price will not be based on current market trends.

Buyer Haggling - A FSBO listing can attract buyers out to find a "deal". These individuals are more likely to see the listing price of a FSBO property as merely a starting point.

Failure to Disclose - Failing to disclose or fully disclose any defects in your home is huge liability for any seller. Improper disclosure or nondisclosure usually results in lawsuits, an unpleasant prospect for all parties. Licensed real estate agents are required to stay up to date on all mandatory local, state and national disclosure requirements.

Commission to Buyer's Agents - Nine out of ten homebuyers use a real estate agent in the search process. If a potential buyer is using the services of an agent, their commission will generally be taken out of the selling price.

Lack of Negotiating Experience - One of the most important services real estate agents provide is the negotiation a sale. Working without an intermediary makes it much more difficult to keep emotion out of the process. Sellers without representation can employ the help of a real estate attorney, but their primary function is to ensure that the contract is not marked by errors or omissions.

Now it's up to you to decide.

If you are anything like me, you still have your Christmas tree up, waiting for the ornaments to be put away. Or perhaps you've made it that far, but the tree is sitting on your back deck or patio waiting for it's fate. Do you throw your tree behind your house in the woods, or set it out for the trash collectors to take it away? Forsyth County residents have a simple solution made available to them by "Keep Georgia Beautiful". The “Bring One for the Chipper" Recycling event will be held again this year on Saturday, January 6, 2007 from 9:00 a.m. until 4:00 p.m. All Forsyth County residents are urged to recycle their Christmas tree at a county drop-off site. The trees will ultimately be chipped into mulch. Get out & recycle your tree early as free tree seedlings will be available at all sites on January 6th. The seedlings will be distributed while supplies last. Local scouts can even earn a tree recycling patch from Keep Forsyth County Beautiful for this event. Each scout must recycle 5 trees in order to qualify. So "Bring One For The Chipper" this Saturday.....I'll see you there!

2007 Tree Recycling Locations - The last 2 sites below will accept trees through Jan. 13th.

South Forsyth High School
585 Peachtree Parkway

Vickery Creek Elementary
6280 Post Road

Coal Mountain Elementary
455 Coal Mountain Drive

Home Depot
1000 Market Place Blvd

Home Depot
2635 Peachtree Pkwy

Tolbert Street Recycling Center
351 Tolbert Street
770-781-2176
Open 7:30am-5:00pm Monday-Saturday
Accepting trees until January 13th

Old Atlanta Recycling Center
3678 Old Atlanta Road
770-205-3010
Open 7:30am-5:00pm Monday-Saturday
Accepting trees until January 13th

Happy New Year to all of our fellow Forsyth County Residents! Now that the holidays are over and we get back into the full swing of things, it's time to think about your taxes. Not just your Income Taxes, but your Property Taxes as well. If you purchased a home in the past year, you need to make sure you have filed for your homestead exemption. Forsyth County residents have until March 1st to file this year. You may apply for exemptions year-round, however, you must apply by March 1 to receive the exemption for that tax year. Any application received after this date will not be processed until the next tax year. You may also qualify for additional exemptions. We recommend you check with the Forsyth County Tax Assessors Office to make sure you are taking advantage of all exemptions available to you. Visit www.forsythco.com, select Departments, then Tax Assessors Office for further information.

Have a Blessed New Year!
Mike, Melody & Cheryl
The Vanderhoff Team