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How Do I File For The First Time Homebuyer Tax Credit?

Deryk Harper — Wed, 27 Jan 2010 22:32:39 +0000

I have been asked this question often. The IRS has a First-Time Home Buyer Link on their site that will guide you through the process and help you locate the forms you need. I am also hearing that this tax credit will not be extended beyond it’s current April 30, 2010 deadline so those that want to use it this year need to keep that in mind and get your new home purchase under contract before this time.

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FHA Announces Policy Changes That Tighten Loan Standards

Deryk Harper — Fri, 22 Jan 2010 18:24:07 +0000

In an announcement Jan 20, the FHA disclosed changes to their policies that will affect consumers ability to qualify and obtain an FHA Mortgage. Here is a brief summary of the changes:

Mortgage Insurance Premium up front cost increased from 1.75% to 2.25%
New borrowers must have a minimum of a 580 credit score in order to qualify for a 3.5% downpayment. For scores lower than 580 the downpayment is 10%.
Allowable Seller’s concessions have been reduced from 6% to 3%
Increase policy enforcment with FHA lenders.

These policies are set to go into effect in late spring and early summer leaving a small window for Buyers that want to purchase using the current standards.

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Alpharetta Georgia Welcome Center Has New Home

Deryk Harper — Fri, 04 Dec 2009 02:04:15 +0000

The Alpharetta Convention and Visitors Bureau and Welcome Center invite the public to stop by on Wednesday December 9 between 2 and 6pm for an open house to explore their new office space located at Park Plaza 178 South Main St Suite 200 Alpharetta, GA. Everyone who stops by will have a chance to win major giveaways from Alpharetta hotels. RSVP at www.awesomealpharetta.com .

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Let’s All Give Thanks to Our Troops this Holiday Season…It’s Free. Here’s How

Deryk Harper — Wed, 25 Nov 2009 20:37:43 +0000

Xerox is helping all of us give thanks for our troops this holiday season. Just go to LetsSayThanks.com pick your favorite card design, personalize by entering a message, your name and hometown and then just click send. Xerox will print and mail the card to a service member serving overseas for free. For some this may be the only card they get so please take some time this holiday season to stop and says thanks to those putting their lives on the line to protect the freedoms we hold so dear and pass this along to as many people as you can.

Have a Happy and Safe Thanksgiving!

Deryk

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New Home Buyers Move Over - Tax Credit Extended to Existing Homeowners

Deryk Harper — Thu, 05 Nov 2009 16:51:13 +0000

Finally…some existing homeowners can take advantage of the Home Buyer Tax Credit. Congress is set to approve an extension on the existing First Time Home Buyer Tax Credit that will also add some credits for existing home owners when they buy a home to use as a primary residence.

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Congress Set To Vote on First Time Home Buyer Tax Credit Extension

Deryk Harper — Tue, 27 Oct 2009 21:39:40 +0000

In a story posted by Bloomberg, it looks like the real estate market could get a continued boost from first time home buyers as Congress looks to extend the tax credit from Nov 30 until sometime next year.

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Remember To Play It Safe This Halloween!

Deryk Harper — Tue, 27 Oct 2009 00:27:43 +0000

If you are planning on heading out to your favorite Spooky spot this Halloween please remember to play it safe and plan on using a designated driver if you drink. Here are a couple of suggetions for things to do this Halloween Week:

Alpharetta Halloween Events

Cumming Halloween Events

Happy Halloween!

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Forsyth County Approves Mosque in South West Forsyth

Deryk Harper — Sat, 03 Oct 2009 01:49:33 +0000

The Forsyth County Commission approved a request by the Hamzah Islamic Center to construct a 25,000 square foot mosque with 150 parking spaces, a gym, playground and picnic area on around 12 acres in South Forsyth off of Tidwell Rd. Neighbors in the area had opposed the site siting traffic concerns. More details at South Forsyth News.

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What will a foreclosure, shortsale or bankruptcy do to my credit?

Deryk Harper — Fri, 02 Oct 2009 21:28:09 +0000

I have been asked this question many times in the last couple of years. Clark Howard just posted a link about the subject and I thought everyone should see it.

So here you go http://clarkhoward.com/liveweb/shownotes/2009/10/02/16788/

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Southeast Area Builder McCar Homes Rumoured to be Closing its Doors Soon!

Deryk Harper — Fri, 04 Sep 2009 00:36:31 +0000

Construction dumpsters flanking sales centers as they are closed down and cleared out, utilities to common amenties shut off by service providers, mass layoffs, business/sales center phones unanswered, vendors going unpaid, empty lots going back to the bank. If all this is true it points to end of McCar Homes in the near future.

Homeowners in newer McCar communities might want to check with their builder and prepare to take over HOA responsibilities if you have not already done so. You might also want to look into 3rd party home warranties because most builder warranties are gone if the company goes under.

Buyers and their agents considering a McCar Community really need to do their homework before moving forward. For established, completed McCar Communities there will probably not be much fallout but for partially complete neighborhoods there is a risk that undeveloped lots could be there for months or years to come….reducing the overall income to the HOA from dues and possibly causing substantial dues increases to offset shortfalls.

McCar was one of my favorite buliders in this area and I hate to see them fall victim to the sluggish housing market and shut down operations here. We have helped many home buyers buy McCar homes and all of them were very happy with their new homes. If anyone has any other related news to share we would like it if you can post here.

Thanks and have a safe and happy holiday weekend.

Quote of the day:

“Do a little more than you’re paid to.

Give a little more than you have to.

Try a little harder than you want to.

Aim a little higher than you think possible,

and give a lot of thanks to God

for health, family, and friends.”

– Art Linkletter

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