Alpha Team Realty
 

 
David Gibbard
 
January 2008
Real
 
The Power of Team Work. Guaranteed Results
 
Copyright © 2008 Realty Times
All Rights Reserved.


 

 
Top 10 Tax Breaks,
On The House


 
  The New Year always turns thoughts to the new tax season and when it comes to taxes there's no place like home to find shelter. Your home offers a score of tax deductions and credits designed to help offset the cost of housing and to keep the housing market fueled with new buyers.
      Here's a look at the Top 10 Tax Breaks, On The House.
  • Mortgage Loan Interest: The Mother Of All Tax Breaks, because interest payments comprises a large portion of your mortgage payment in the early years of the loan's term, mortgage interest on a maximum of $1 million in
    mortgage debt secured by a first and second home is deductible. Deductions reduce your taxable income against which your taxes due are calculated. The $1 million level applies to joint tax filers. You get half the deduction if you file
     

     


  •  
    Mortgage Rates
    U.S. averages as of December 27, 2007:

    30 yr. fixed:   6.17%
    15 yr. fixed:   5.79%
    1 yr. adj:        5.53%

     

     
     

     

    View current rates


     

     

     

    Metro Atlanta's Real Estate Update for November 2007

    Metro Atlanta Report:
    A Glimmer of Good News

    Our glimmer of good news did come to be true. November’s closings after lags are reported may exceed September’s and will be close to October. This is a good sign of market stabilization. However, we still have a long way to go for a significant market upturn.


     

     

    Average Selling Price

    Average Sale to Listing Price

    Average Days on the Market

    David Gibbard

    $309,663*

    99.51%*

    34.5 Days*

    Top 6 Agents (average)

    $282,079

    96.54%

    77.9 Days

    Difference

    $27,584

    2.97%

    43.4 Days

    Well Know TV & Radio Ad Agent (applying for a job to be your realtor)

    $264,373

    99.19%

    106.6 Days

    * Not one of the top 6 agents out performed David Gibbard’s sales results in any category. Data Source: First Multiple Listing Service (FMLS)


     
    Wondering What Your Home Is Worth?

    Let us show you.
     

     




    Battle of the Warring
    Housing Price Indexes


     
         We saw another "battle of the warring housing price indexes" last month, with the federal government reporting positive price appreciation in more than two-thirds of U.S. metropolitan markets -- at the same time a widely-publicized Wall Street index said home values were down by a record 4 percent for the year, and down by 5 percent in the top 20 markets.
          How could there be such big differences? And which index is right?
          Here are the facts:
          The federal government's house price index is produced quarterly by an agency called the Office of Federal Housing Enterprise Oversight (OFHEO). It measures valuation movements in a massive database of millions of homes whose loans were financed or refinanced by Fannie Mae or Freddie Mac.
          The data covers nearly 300 major metropolitan markets and dozens of smaller non-metropolitan areas.
          In its latest index, released November 29, OFHEO reported prices in


     


    Smoothing The Rough
    Road To Refinancing


     
         Lower interest rates could offer some financial buoyancy for those looking to refinance before they get in over their heads.
          Home mortgage interest rates have been flat or falling since early October. The falling average rate probably won't help those who purchased a home, a year or two ago, especially if they had a small equity stake in their home. "The problem is a lot of people in those products is they don't have any equity in the house and lenders want equity to refinance," said Glenda Queensbury, a mortgage adviser in San Jose, CA.
          However, there could be a safe harbor available for others facing a resetting adjustable rate mortgage (ARM) with the potential for higher rates and unmanageable mortgage payments.
          The key, say the experts, is to examine your options early.
          "Absolutely. When people start feeling the pinch don't wait until you are delinquent. The more delinquent you become the more options that will start going off the table" says William Higgins, chief lending officer of online bank Ing Direct.
          Higgins says it's a good idea to visit your existing lender first. That's especially true if your lender doesn't sell loans and has a vested financial interest


     

     
    Sell Your Home for FREE

    Sell Your Home on the Multiple Listing Service (FMLS) and Realtor.com for FREE!! Home Buyers Receive up to 1.5% of the Sale Price of the Home You Buy Cash-Back at Closing.
     

     



     
    New Monthly Feature: Forsyth County, North Fulton and West Gwinnett Real Estate Report
     
         Single family homes in Forsyth County saw the annual average sale price drop 3% from $323,864 in November 2006 to $313,431, in November 2007, which does not mirror the rest of the metro Atlanta area, which increased by 3% from November 2006 to November 2007. Average home values in North Fulton dropped from $426,376 in November 2006 to $416,446 in November 2007 a 2% decrease, while West Gwinnett saw a dramatic drop of the annual average home value, decreasing 11% from $322,888 in November 2006 to $288,041 in November 2007. Actual home sales in Forsyth County dropped 19% compared to November 2006, which is 14% better than the metro Atlanta real estate sales. North Fulton home sales dropped 23% while West Gwinnett home sales dropped 26% over the same time last year.
         In Forsyth County new home inventory dropped from last month of 9.6 months of new home inventory to this month of 9 months of new home inventory. The average selling time also reduced from of 144 days to 132 days. Resale home inventory in Forsyth County remained the same at 9.6 months of resale home inventory. The average selling time came down slightly from 70.4 days last month compared to 69.6 days this month. North Fulton new home inventory increased from 19.9 months of new home inventory last month to 20.5 months of new home inventory this month, with an average selling time changing from 156 days to 181 days. Resale homes inventory in North Fulton remained the same at 7.05 months of resale home inventory. Resale home average selling time dropped to 60 days.
         The doom and gloom data for residential real estate and the negative media real estate hype just does not match the real estate market conditions in Forsyth County, North Fulton and West Gwinnett.

    If you would like to receive and in-depth analysis of the Forsyth County, North Fulton and West Gwinnett real estate market, including an analysis by price range (the numbers vary significantly based on price range) call our pre-recorded toll free order hotline at 877-411-9264 ID # 1625 or you can order it only line at

    www.ATLMLSdata.com



     


     
    Daily News and Advice

    Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
     

     


     
    More Articles

     

     
    December Round Up: Bond Yields Inch Up, Bringing Rates With Them
     

     
    Love The Ranch-style House
     

     
    Going Green: Easier Than
    You May Think

     
    Understanding How Federal
    Reserve Rate Cuts Work


     

     
    David Gibbard, The Power of Team Work. Guaranteed Results
    E-mail: gibbard@alphateamrealty.com
    Web: http://www.alphateamrealty.com
    770-886-3808

     
    Alpha Team Realty, Inc.
    770-886-3808
    981 Old Alpharetta Road
    Alpharetta GA 30005
     


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