All Entries For March, 2009
Atlanta Skyline
Great news Atlanta! Even though the economy is down, Americans still feel that Atlanta is a great place to live! Coming in at number 9 on Forbe’s Top 10 Cities Where Americans are Relocating list, Atlanta is a sought after address. With companies such as Coca Cola and Georgia Pacific still thriving, Atlanta still has a low unemployment rate compared to other American cities. Also, Atlanta was named the top place for singles by Forbe’s in 2008. With attractions including the Georgia Aquarium, Stone Mountain & the Atlanta Botanical Gardens, there is always something to do! Why not see what Atlanta has for you?
Good news update! First-time homebuyers who purchase a home before December 1, 2009, will receive up to $8,000 in tax credit. People can claim the credit either on their 2008 tax returns or on their 2009 tax returns. Here’s a great article from the IRS for more information: click link for the IRS website.
For many great Atlanta New homes, check out our website: morrisandraper.com.
Enjoy Atlanta to it’s finest by enjoying these FREE events (in most cases) in April 2009.
Atlanta Dogwood Festival 2009
April 17, 18, and 19
Atlanta Dogwood Festival is back in Piedmont Park! Spring is here and that can only mean one thing in Atlanta: the Atlanta Dogwood Festival is back! The Dogwoods are in bloom, and hundreds of artists from around the country will set up their tents for the 73rd Annual Atlanta Dogwood Festival.
For more information about Atlanta Dogwood Festival 2009, visit their website at: http://www.dogwood.org/
SweetWater’s 420 Festival — An Earth Day Celebration 2009
April 18 & 19
A weekend to celebrate natural resources and learn about environmental concerns. Food, art, environmental expo, beer and live music. 5K Run/Walk April 18. Benefits the Candler Park Association. Free Admission. $5 for wrist band to drink beer.
For more information on SweetWater’s 420 Festival — An Earth Day Celebration 2009, visit AJC.com’s Access Atlanta website.
Atlanta Film Festival 2009
April 16 – 25
Being held at the Landmark Midtown Art Cinema. Various movies. Various genres. From various Countries.
For more information on Atlanta Film Festival 2009, visit the Atlanta Film Festival official website.
Georgia Renaissance Festival 2009
April 18 – June 7
Our multi-acre kingdom is a re-creation of a 16th-Century European Country Faire where you can shop, eat and revel with a cast of nearly 1,000 colorfully costumed characters . Ten stages of music and comedy shows are set against a permanent backdrop of Tudor homes and enchanting cottages! Cheer your champion knight at the Royal Equestrian Joust Arena. Feast like a King on the hearty food and drink of the period, shop for fine handcrafted treasures and watch demonstrations of the time-honored arts of weaving, coin minting, spinning, sculpting, glass blowing, and leather crafting and enjoy games and rides for all ages. EIGHT FESTIVE WEEKENDS! Saturdays and Sundays Including Memorial Day – 10:30am – 6pm OPEN RAIN OR SHINE! General Ticket cost is $19.95.
For more information on Georgia Renaissance Festival 2009, visit the Georgia Renaissance Festival 2009 official website.
Cindy Johson | V.P./ Division Manager, Sales
More info on tax credits for homebuyers AND homeowners!(Written by Cindy Johnson of Morris and Raper Realtors)
The new tax laws have specific limitations, so people need to pay close attention. Of course, all tax-related actions and decisions should be reviewed by a professional tax advisor. So the following is meant to simply get the conversation started.
1. $8,000 tax credit for first-time homebuyers. A first-time homebuyer is anyone who has not owned a home in the last three years. To qualify for the full $8,000 tax credit, couples filing jointly must earn less than $150,000 in adjusted gross income for 2009. The home must be closed on by November 30 of this year. THIS CREDIT COMPLETELY GOES AWAY ON DECEMBER 1, 2009.
Now get this – if closing on a home before they file their 2008 tax returns can elect to take the credit on those 2008 taxes. But they’ll only get a $7,500 tax credit, even though they bought their home in 2009. If they can wait to take the credit when they file their 2009 tax return next year, they’ll get the whole $8,000. For more information, visit the National Association of Homebuilders website.
2. Green tax credits for homeowners. There is now a $1,500 lifetime tax credit for home improvements such as energy-efficient windows, doors, mechanical systems and insulation.
PLUS: Homeowners can now take a 30% tax credit for every dollar they spend on green upgrades like solar heaters, heat pumps and fuel cells. The credits apply through 2010.
These tax credits are a great help to sellers wanting to make their homes more attractive.
For more information, visit a recent story posted by Newsday.com.
3. Tax relief on short-sale and foreclosure forgiveness. This benefits homeowners who experience a short sale or foreclosure where the proceeds are less than the amount owed on the mortgage. In the past, that forgiven debt had to be treated as taxable income. But from now through 2012, the forgiven debt will NOT be taxed as income. There is a limit of up to $2 million of forgiven debt on the principal residence. Taxpayers do not have to put the amount on their tax form, even if they receive an IRS Form 1099 from the lender. For more information on short-selling, visit a recent story posted by Tuscon Citizen.com.
Tax credits are the best form of tax relief. They are a direct dollar-for-dollar reduction of your tax liability – and for first-time homebuyers, if the credit is larger than the tax liability, you get a refund!
Homes Sold Rise in February
The National Association of Realtors released data this week stating that existing homes sales moved upward 5.1% in the month of February. This is the largest increase since 2003! While overall sales are still down, this is a step in the right direction.
The increase is largely due to the $8,000 first-time homebuyer tax credit. Many first time buyers are taking advantage of this, in combination with the outstanding deals that are out there right now. And with the fed lowering the interest rate, sales are expected to increase as we enter spring.
This week the Atlanta Journal Constitution chose to feature Sky Lofts as Condo of the Week. In the article homeowner, Curtis Gadsden, described how he loved Sky Lofts Atlanta’s location, ground floor retail stores and it’s terrific value. He also qualified for an awesome deal that he could not pass up. Click on the link to find out how he was was able to own a new atlanta condo at Sky Lofts for less than he was paying in rent !
