Vanderhoff Real Estate's North Fulton Blog
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Saturday, March 27, 2010
Weekend Mortgage Rates
Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 5.00% Purchase Only 15-yr Fixed = 4.25% Purchase Only Consult your Covenant Mortgage Professional for Refinance QuotesJumbo Loans: Loan amounts over $417,000* 5/1 ARM = 4.50% 7/1 ARM =4.875% FHA Loans: * 30-yr Fixed Range= 4.875% - 5.25% *Based on pricing as of Friday, March 26th, 2010 at 12:00PM.If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success.
Thursday, March 25, 2010
New Opportunity Zone in Forsyth County
A portion of north Forsyth County has officially been named an Opportunity Zone by the Georgia Department of Community Affairs. The area, which includes various parcels along Highway 369 from Highway 9 to Mashburn Drive, has been designated the 400 North Opportunity Zone in hopes of encouraging redevelopment and revitalization. Over the last decade, Forsyth County has consistently been ranked among the fastest growing counties in the nation. Rapid population growth has provided opportunity in many areas of the community. However, private investment has primarily focused on more easily developed agricultural properties, rather than attempting to redevelop and revitalize previously developed properties. "The area within the 400 North Opportunity Zone is not only the primary gateway from SR 400 to Lake Lanier, but also a prime location for nonresidential redevelopment in northern Forsyth County," District 4 Commissioner Patrick B. Bell said. "In spite of this, the area's location has not been enough to draw its fair share of private investment. The majority of the area has sat idle as other sections of Forsyth County have experienced significant increases in building permit applications, business license fees and assessed value." In the spring of 2009, Forsyth County identified a need to redevelop and revitalize property within the 400 North Opportunity Zone. Discussions focused on a combination of local and state efforts that would hopefully act as a catalyst for redevelopment of the area. Steps included the adoption of an urban redevelopment plan; an effort to identify and modify existing development regulations that were counterproductive to the unique nature of the area; the establishment of tax incentives through the creation of an Opportunity Zone; and a targeted education program aimed at bringing properties into conformity with adopted ordinances. In December 2009, the Forsyth County Board of Commissioners submitted an application to the Georgia Department of Community Affairs requesting approval of the 400 North Opportunity Zone. The objectives of the 400 North Opportunity Zone include promoting private investment, the creation of jobs and increasing the tax base. The Opportunity Zone status will encourage redevelopment and revitalization efforts by offering the state's maximum job tax credit of $3,500 per job. This incentive, which is available for new or existing businesses that create two or more jobs, can be taken against the business's income tax liability and state payroll withholding. Opportunity Zones provide expanded state job tax credits for a 10-year period. Without an Opportunity Zone, Forsyth County is classified as a Tier 4 county and can offer a $1,250 state job tax credit. Tier 4 tax credits exclude retail and service establishments, require a minimum of 25 new jobs to claim a credit and are limited to 50% of income tax liability. Within the opportunity zone any lawful business is eligible for a $3,500 state job tax credit. Businesses are only required to create two new jobs (cannot be husband and wife) and the credit can apply to 100% income tax liability and payroll withholding. Based on the expanded Opportunity Zone benefits, a business that creates two new jobs and maintains the jobs for five years receives $35,000 in state tax credits. Large employers that create 58 or more jobs and maintain the jobs for five years qualify for over $1,000,000 in state tax credits. Details on the designation, including a map, will soon be available on the Planning and Development Department page at www.forsythco.com. Labels: business, forsyth county, georgia, hwy 369, investment, mashburn, opportunity zone, tax credit
Tuesday, March 23, 2010
FHA Policy Changes
Changes at the FHA, which is currently serving a third of the mortgage market, could have an impact on Spring home sales. Effective April 15th, the FHA is implementing the first of these policy changes. Click below for a detailed overview of these changes with David Stevens, FHA Commissioner and CNBC's Diana Olick.
Labels: april 15, change, federal housing administration, FHA
Sunday, March 21, 2010
Forsyth County Homestead Exemption Deadline: April 1st
Those of you who purchased a house in Forsyth County during 2009 and were living there on January 1, 2010, are eligible for lower property taxes by filing for Homestead Exemption before April 1. Residents age 65 or older in 2009 are also eligible for other property tax savings. You must file before April 1 to receive these benefits. When applying, present the following documentation: a driver's license (if you drive), a copy of a recorded warranty deed, and a letter from the county where you lived prior to moving to Forsyth County stating the homestead has been removed. Where to file: Forsyth County Tax Assessor's Office Forsyth County Administration Building 110 E. Main Street, Suite 260, Cumming 770.781.2106 Monday through Friday, 8:30 a.m. to 5 p.m. For further information, click here. Labels: 2009, 2010, april 1, deadline, forsyth county, homestead exemption, property tax, tax assessor
Friday, March 19, 2010
Weekend Mortgage Rates
Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 4.875% Purchase Only 15-yr Fixed = 4.25% Purchase Only Consult your Covenant Mortgage Professional for Refinance QuotesJumbo Loans: Loan amounts over $417,000* 5/1 ARM = 4.50% 7/1 ARM =4.875% FHA Loans: * 30-yr Fixed Range= 4.75% - 5.25% *Based on pricing as of Friday, March 19th, 2010 at 12:00PM.If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success. Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, home loans, rates, real estate, vanderhoff
Tuesday, March 16, 2010
$8000 Federal Housing Tax Credit To Expire Soon
The Worker, Homeownership, and Business Assistance Act of 2009 was extended through April 30, 2010. This tax credit of up to $8,000 is for qualified first-time home buyers purchasing a principal residence. The tax credit applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify. For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns. The income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns. Click here for questions and answers that will provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation. If you qualify and would like to take advantage of the tax credit at a time when mortgage rates and home prices are low, contact us today. It's a fantastic time to buy a home in the Cumming, Alpharetta and Lake Lanier area. Visit our website at www.VanderhoffRealEstate.com and search all available listings in the area. We'd love to help you find your next home. Labels: 8000, buyer, first time, home buyer, tax credit
Happy Saint Patrick's Day
Happy Saint Patrick's Day For all of you of Irish descent, just a friendly reminder to not drink to much Green Beer Today.
Sunday, March 14, 2010
Weekend Mortgage Rates
Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 4.875% Purchase Only 15-yr Fixed = 4.25% Purchase Only Consult your Covenant Mortgage Professional for Refinance QuotesJumbo Loans: Loan amounts over $417,000* 5/1 ARM = 4.50% 7/1 ARM =4.875% FHA Loans: * 30-yr Fixed Range= 4.75% - 5.25% *Based on pricing as of Friday, March 12th, 2010 at 12:00PM.If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success. Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, home loans, interest rates, mortgage rates, real estate, vanderhoff
Saturday, March 13, 2010
Change Your Clocks, Change the Batteries
The Forsyth County Fire Department reminds citizens to take a moment to change the batteries in their smoke and carbon monoxide detectors when they change their clocks as daylight saving time begins Sunday, March 14th. “When you move your clocks ahead one hour, please take a moment to change the batteries in your smoke and carbon monoxide detectors,” Fire Chief Danny Bowman said. “This is also a great opportunity to dust the units and perform a simple test of each device.” The Forsyth County Fire Department recommends testing smoke and carbon monoxide detectors at least once a month and replacing the batteries every six months. The units themselves should be replaced every eight to ten years. The Fire Department also reminds citizens of the following safety precautions: * Install a smoke detector on every level of the home * Ensure smoke detectors are clean and free of dust * Dial 911 in case of any emergency The Forsyth County Fire Department is eager to help those who may need smoke detectors in their residence. The department’s Public Safety Education Division provides smoke detectors free of charge for senior citizens and needy residents; they will also install those detectors. To receive details on this program, call Public Safety Educator Bob Westbrook at Fire Department Headquarters at 770.781.2180. Labels: batteries, carbon monoxide, daylight saving time, detectors, fire department, forsyth county, georgia, smoke
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