Alpharetta Cumming Lake Lanier Real Estate Blog: April 2007

Lake Sidney Lanier is now under a moratorium on accepting new appointments/applications for private boat dock permits according to The U.S. Army Corps of Engineers. The moratorium is effective today, Friday, April 27, 2007, and has been issued for 120 days.

The 2004 Shoreline Management Plan and Environmental Impact Statement (EIS) established a maximum carrying capacity of 10,615 boat docks on the shores of Lake Lanier. In order to comply with the EIS and Shoreline Management Plan, once the 10,615 number is reached no new dock permits can be issued. The Corps has issued the moratorium in order to evaluate where the project currently stands in relation to this maximum capacity. The 120 days should allow enough time for the Corps to evaluate & process all outstanding dock permit applications and appointments received thus far.

The moratorium does not affect the normal processing for existing dock permits, including the reissue of existing permits upon expiration or transfer of ownership.

Following the moratorium the Corps will then have an exact number of remaining dock permits that could be issued if the current number does not exceed the 10,615. Currently, there are approximately 500 available permits remaining. For additional information or questions contact the Corps at 770-945-9531.

So what does this mean for current and future Lake Lanier residents? If you own a home on Lake Lanier, and already have a dock permit in good standing, you are in great shape. If you are looking to buy a Lake Lot, or Lake Home you need to investigate that home or property's dock permit, prior to purchase agreement. If the property does not have a dock permit in place at all, or is not in good standing with the Corps, you might just wait on purchasing until you know the outcome of the Corps evaluation. It is possible that the Corps has exceeded the allowed number of private docks, and will not be issuing anymore.

The most important thing to do, when looking to purchase lake property, is to find a Realtor that KNOWS Lake Lanier, and has experience with the The U.S. Army Corps of Engineers and dock permits. The Vanderhoff Team HAS that experience, and would love to be on your team during your next Real Estate Transaction. Give us a call, or email us today! Phone: 770-888-9269 & Email: Info@VanderhoffTeam.com

As of April 26, 2007, the current average mortgage rates according to Freddie Mac's Weekly Primary Mortgage Market Survey are as follows:

30-yr Fixed Rate Mortgage: 6.16% with fees & points averaging at 0.5
15-yr Fixed Rate Mortgage 5.87% with fees & points averaging at 0.5
5/1-yr Adjustable Rate Mortgage 5.88% with fees & points averaging at 0.7
1-yr Adjustable Rate Mortgage 5.43% with fees & points averaging at 0.7

Mortgage rates are down this week from last.

If you are in the market to purchase a home, please contact The Vanderhoff Team today. We can assist you with your real estate questions and set you up with a custom property search to help you find the home that fits your needs. Rates are low, and the market has a high inventory of homes available. It's a great time to buy your next home! Contact us today at 770-888-9269 or info@vanderhoffteam.com to get started.

Beautiful Oxford Lakes home for sale in Alpharetta near Crabapple & New Providence Road area. Oxford Lakes is a highly sought after, beautiful neighborhood on the Western side of Alpharetta. This gorgeous swim/tennis neighborhood is made up of 1+ acre properties nestled among two lakes. Each lake is approximately 3 to 4 acres and can be used for non-motorized boats or fishing.

Very few homes come on the market in this great community. One home that is currently listed is absolutely stunning. The professionally landscaped yard with a 10 zone irrigation system is breathtaking, and there is plenty of room to add a pool in the backyard just off the patio area that is great for entertaining. It features a master suite on the main level with trey ceiling, mural and his & her closets. This home is located at 860 Dockbridge Way, Alpharetta, GA 30004 and offers great schools with Crabapple Crossing Elementary, Northwestern Middle & Milton High. For a detailed home flyer, click on the property address above, or contact Mike & Melody Vanderhoff today to schedule a showing. To view additional properties, visit our website at www.VanderhoffTeam.com, or email us at info@vanderhoffteam.com.

Home for sale at a Great Value. 3020 Cypress Cove, Ball Ground, GA 30107 in Cherokee County. This home is beautifully situated on a 1 acre wooded lot with lake frontage and a lake view. This charming two story traditional has a full front porch with swing and a partial basement ready to finish. Three bedrooms and 2 full baths upstairs, with a half bath located on the main level. Spacious kitchen is bright and welcoming. Walk from the breakfast room out onto the back deck to enjoy your morning coffee while enjoying the peaceful wooded backyard and private lake. You may feel miles away, but the home is only minutes from Highways 575, 372 and 5. A must see at only $209,900. For more details on this home, please click on the address above for a full property flyer. To schedule a showing, please contact The Vanderhoff Team today at 770-888-9269 or email info@vanderhoffteam.com.

As of April 19, 2007, the current average mortgage rates according to Freddie Mac's Weekly Primary Mortgage Market Survey are as follows:

30-yr Fixed Rate Mortgage: 6.17% with fees & points averaging at 0.5
15-yr Fixed Rate Mortgage 5.89% with fees & points averaging at 0.5
5/1-yr Adjustable Rate Mortgage 5.92% with fees & points averaging at 0.6
1-yr Adjustable Rate Mortgage 5.45% with fees & points averaging at 0.7

Mortgage rates are down this week from last.

If you are in the market to purchase a home, please contact The Vanderhoff Team today. We can assist you with your real estate questions and set you up with a custom property search to help you find the home that fits your needs. Rates are low, and the market has a high inventory of homes available. It's a great time to buy your next home! Contact us today at 770-888-9269 or info@vanderhoffteam.com to get started.

Forsyth County issues changes to the watering restrictions, effective immediately. In accordance with the Georgia EPD Declaration of a Level Two Drought, the new watering schedule for Forsyth County residents is as follows:

No outdoor watering is permitted on Mondays, Thursdays and Fridays.

Even-numbered addresses (those ending with the number 0, 2, 4, 6, 8 or no number) and golf course fairways may water on Wednesdays and Saturdays, within the hours of 12:00 midnight to 10:00 a.m.

Odd-numbered addresses (those ending with the number 1, 3, 5, 7 or 9) may water on Tuesdays and Sundays, within the hours of 12:00 midnight to 10:00 a.m.

Use of hydrants for any purpose other than firefighting, public health, safety or flushing is prohibited.

Washing hard surfaces, such as streets, gutters, sidewalks and driveways is prohibited, except when necessary for public health and safety.

Keep in mind these guidelines when marketing your home. If you need to pressure wash your driveway or walkways, or water your lawns, keep these restrictions in mind.

And, if you would like more information on how to best market your home, please contact The Vanderhoff Team today!

1031 Exchanges can be a great option, but is it right for you? What is a 1031 Exchange? According to Wikipedia, the following is an excellent description:

"A 1031 Exchange, also known as a Like Kind Exchange or Starker Tax Deferred Exchange (named for an investor who challenged and won a case against the IRS) is a transaction under United States law which specifies under section 1031 of the Internal Revenue Code, 26 U.S.C. § 1031 the following:

'No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment.'

This allows taxpayers to defer all of the capital gains taxes resulting from the sale of investment property, when they use a Qualified Intermediary, follow the IRS guidelines, and use the proceeds of the sale to buy more investment property within 180 days of their sale. In order to obtain full benefit, the replacement property must be of equal or greater value, with equal or greater debt, unless the taxpayer adds cash to the deal to replace debt instead, and all of the proceeds from the relinquished property must be used to acquire the replacement property. The taxpayer must have assigned his interest in the relinquished property to a Qualified Intermediary prior to the close of the sale, so that the taxpayer has lost control of the funds before he has any opportunity to obtain them.

At the close of the relinquished property sale, the proceeds are sent by the closing agent to the Qualified Intermediary, who holds the funds until such time as the transaction pertaining to the replacement property is ready to close. Then the proceeds from the sale of the relinquished property are deposited by the Qualified Intermediary to purchase the replacement property, which is then delivered to the taxpayer, all without the taxpayer ever having 'constructive receipt' of the funds.

The prevailing idea behind 1031 Exchange is that since the taxpayer is merely exchanging one property for another property(ies) of 'like-kind' there is nothing received by the taxpayer that can be used to pay taxes with. All the gain is still locked up in real estate and so no gain or loss can be claimed."

If you would like more information about 1031 Exchanges, or other real estate transactions you may be considering, please contact us today at info@vanderhoffteam.com or 770-888-9269. Ask for Mike or Melody Vanderhoff!

A great Atlanta Tradition: The 71st Annual Atlanta Dogwood Festival is happening this weekend, April 13th-15th. It's not too late to catch some of the fun. The festival will showcase more than 225 artists from all over the country. The MetroPCS music stage has FREE live concerts. Check out The WaMu Visual Vibes Art Exhibition and the U.S. Disc Dog Southern Nationals. Your kids will love the Publix Kid's Village and a MARTA Dogwood shuttle will run on Saturday and Sunday to and from the ARTS Center Station. Leave your pets home though - no pets are allowed in Piedmont Park during the Festival. Get more info at www.dogwood.org.

As of April 12, 2007, the current average mortgage rates according to Freddie Mac's Weekly Primary Mortgage Market Survey are as follows:

30-yr Fixed Rate Mortgage: 6.22% with fees & points averaging at 0.4
15-yr Fixed Rate Mortgage 5.90% with fees & points averaging at 0.4
5/1-yr Adjustable Rate Mortgage 5.93% with fees & points averaging at 0.5
1-yr Adjustable Rate Mortgage 5.47% with fees & points averaging at 0.5

Interest rates are pushed upward this week following the release of the March employment data which showed a stronger job growth than the market expected in March.

If you are looking for assistance with your next home loan, we recommend Steve Thompson, Senior Mortgage Consultant with Home America Morgage, Inc. To contact Steve, click on his name above to be taken directly to his website at www.stevethompsononline.com, or you may email Steve at sthompson@homeamericamortgage.com or call him at 770-325-7075. Let Steve know The Vanderhoff Team sent you!

On April 5, 2007, the Forsyth County Board of Commissioners approved a 90-day extension to the moratorium on applications for re-zonings for all residential uses in all zoning classifications. An initial 90-day moratorium was put into effect on January 4, 2007.

The Forsyth County Planning and Development Department will continue to process and review all zoning applications that were submitted and accepted in the queue prior to January 4 and all rezoning applications other than residential.

To view the moratorium Resolution, visit www.forsythco.com.

From our Family to Yours, we hope you had a blessed Easter weekend!

The Atlanta Braves have their home opener game tonight at Turner Field. After sweeping the Phillies in the season-opening series in Philadelphia, the Braves ride a 3-0 record into tonight's 7:35 p.m. ET home opener against the Mets, who are also 3-0 in '07. Longtime former teammates John Smoltz and Tom Glavine will oppose each other when the Braves host the Mets in Saturday's game. Opening weekend games against the New York Mets are as follows:

• Fri Apr 6, 7:35pm
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• Sat Apr 7, 3:55pm
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• Sun Apr 8, 1:05pm

For more information or to purchase tickets, visit www.braves.com.

Oxford Lakes is a highly sought after, beautiful neighborhood on the Western side of Alpharetta, near Crabapple off of New Providence Road. Technically, Oxford Lakes is included in the new City of Milton, however, the mailing address remains Alpharetta. This gorgeous swim/tennis neighborhood is made up of 1+ acre properties nestled among two lakes. Each lake is approximately 3 to 4 acres and can be used for non-motorized boats or fishing. It's easy to maintain your privacy, but if you like community, Oxford Lakes offers a variety of activities. Some of these include, ALTA, a Bunco group, seasonal concerts, as well as holiday events such as an easter egg hunt for the kids and a fourth of July parade.

Very few homes come on the market in this great community. One home that is currently listed is absolutely stunning. The professionally landscaped yard with a 10 zone irrigation system is breathtaking, and there is plenty of room to add a pool in the backyard just off the patio area that is great for entertaining. It features a master suite on the main level with trey ceiling, mural and his & her closets. This home is located at 860 Dockbridge Way, Alpharetta, GA 30004 and offers great schools with Crabapple Crossing Elementary, Northwestern Middle & Milton High. For a detailed home flyer, click on the property address above, or contact Mike & Melody Vanderhoff today to schedule a showing. To view additional properties, visit our website at www.VanderhoffTeam.com, or email us at info@vanderhoffteam.com.