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How to Determine Home Value and Why It Matters

The better you understand the fundamentals of home values, the better prepared you are to benefit from appreciation in your home and finance the purchase of more costly items. With your home value figured out, you can make better financial decisions about your property and put aside money to make a bigger down payment. Finding home value on your own will likely require greater research, but it can ultimately provide a better understanding of your financial situation and be a useful asset for your financial future.

Here are some tools to help you gauge your value. The tools available depend on the region of the country you live in, the kind of home you own, whether you’re buying or selling and whether the information comes from the federal government, a private company, or a source other than the website of the U.S. Census Bureau. Estimator tools to help Home Value Assessment Estimator tools to estimate home value if you don’t live in the city The HPI: How Homes and Houses Sold Around the U.S. Were Priceed By the HPI is a tool developed by the National Association of Realtors. It allows you to get a graphical view of home values by sorting the map by ZIP code and state. Type in the ZIP code or choose “close-in” or “wide area” neighborhoods to narrow your search. The map provides a visual comparison of homes around the country. Click on the buttons at the top to view more detailed maps. The tool is not yet available in the calculator.

Using Home Value Calculator The traditional old-fashioned way to determine home value is to get an estimate from a professional assessor or, if you’re not comfortable doing this, contact a local real estate agent or local county tax assessor. The best value is found by checking a simple questionnaire: How much is your home worth? How much does it cost to maintain? Can you afford to sell your home? Are the conditions you find attractive enough to stay in it? Use the calculator to get an honest assessment of your home worth. If you can get an estimate by a local real estate agent or County Tax Assessor, that is great. But remember that the real estate market varies widely by region. Be sure you’re comfortable with the idea of getting an unbiased estimate. Start by picking a reasonable region to use, which in most areas is represented by the CountyCity tax bracket size.

The first uses Google Trends to analyze the search volume for search terms related to your property. The second uses Cached to locate all home listings within a 250-square-mile area. Search volume can take different forms, but if you’re curious about the market for a particular area, Google Trends is a simple and straightforward way to gauge interest in a property. Don’t expect Google Trends to provide an exact estimate of the market value of your home, however. Instead, expect a high number for the average price based on current market trends. Cached is a very similar tool, though it works primarily in Europe and Asia. To find listing information, enter a city, state and country, then click “Cached Listings” and you can see which listings are currently available for sale in that citystate or country.

Redfin’s property evaluation tool, which evaluates the value of different types of real estate by calculating cost, market, cash flow, maintenance and homeownership percentage, market performance in the past few years, occupancy rate and mortgage interest rates. It doesn’t look at trends, but it can give a good idea of your typical spending and usage patterns.


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First-Time Homebuyers Are Getting Crushed in a Cutthroat U.S. Market

The pandemic-fueled housing frenzy is smothering a class of homeowners that for years has struggled to gain a foothold in the U.S. market. In the third of a two-part series, “First-Time Homebuyers Are Getting Crushed in a Cutthroat U.S. Market. In the pandemic-fueled housing frenzy, first-time buyers can’t compete. Take Sarah and Koty Chapman, suburban Nashville restaurant workers in their 20s who started this year full of hope, with a baby on the way and plans for a house of their own. They lost a dozen bidding wars for homes under $300,000 up against mortgage borrowers with big down payments, telecommuters with out-of-state salaries and Wall Street investors skipping the line by paying cash. The Chapmans’ daughter was born in April and they’re stuck right where they started, in a rental. Determination has given way to resignation. Record price gains and fevered competition are crushing prospects for U.S. homeownership, a key driver of middle-class wealth. First-time buyers accounted for 29% of existing-home sales in August, the lowest share since January 2019 and below the five-year average of 32%, according to the National Association of Realtors.

The share of government-backed mortgages often used for purchases by young people has also plunged since the start of the pandemic. It’s a stark example of America’s uneven economic recovery. Soaring real estate values have gifted homeowners with record equity, with an average increase of more than $50,000 per mortgage in the past year, according to CoreLogic. But record-low borrowing costs, which should have made housing more affordable for young renters and minority groups historically left out of ownership, instead drove prices higher and pushed them even further behind. Financing is one of the key issues putting first-time buyers at a disadvantage. Sellers have their pick of offers and are choosing cash purchasers or mortgage borrowers with conventional financing who can waive inspections and make up the gap if the lender’s appraisal falls short.

In a ‘short squeeze’ after the record Wall Street bubble burst, millennials are being crushed in a race against the housing market’s seemingly unstoppable market value. The gap has narrowed, but only slightly. Young Americans’ first-time homebuyers are getting crushed in a cutthroat U.S. market. Paying to rent a starter home isn’t an option. Paying cash isn’t a viable alternative. The only viable path into the market for Americans in their 20s, according to U.S. Census Bureau data, is for an investor with out-of-state cash or a telecommuter with out-of-state salary. Millennials are being crushed. It hasn’t been this bad since 2008, when the financial crisis saw Americans lose homes for a third straight year. If you need to sell your house in as little as 7 days, we buy houses in Waterbury Connecticut. Get started by requesting your free cash offer and see how much time and hassle you can save by selling your house in Waterbury Connecticut fast with Sell My House 7.

As recent as early summer, the market might have been soft enough for first-time buyers to hold out hope of finding an affordable home, and housing discrimination against first-time buyers wasn’t widespread. Just a few months ago, data showed young buyers were having a good go at home purchasing. By August, the enthusiasm had faded. Data from the National Association of Realtors show that buyers from millennials have taken 31% of existing-home sales in the past 12 months, while a first-time buyer accounted for 31% of new-home sales from the same group. Now the imbalance is crushing young buyers. That’s one of many reasons why the housing market has to get the hell out of young people’ hands.


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Closing on a house

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will be different come October 1st.  It was said to start August 1st but the dates have been changed.  If you have purchased a house in the past you received what was called a HUD1.  Well that is going away.  I will let this video explain.

 


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100% Financing on Mortgages TODAY!

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is still out there today.  Navy Federal Credit Union, the nation’s largest in assets and membership, offers 100 percent financing to qualified members who buy primary homes. Navy Federal eligibility is restricted to members of the military, some civilian employees of the military and U.S. Department of Defense, and family members, there are also companies that help with this, like a reputable mortgage company in Oveland Park which specialize in this type of work.

The credit union’s zero-down program is similar to the VA’s. One difference is cost: Navy Federal’s funding fee of 1.75 percent is less than the VA’s funding fees.

Give them a call today and call me when you are pre-approved.

https://www.navyfederal.org/


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Come Live Atlanta

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1. Hartsfield-Jackson Atlanta International Airport – The world’s busiest airport, with more than 260,000 daily passengers.
2. Peachtree – The heart and main artery of the city, many of the city’s main attractions are on or near this street and it often preludes any directions a local will give you. But don’t get confused—there are 71 streets in Atlanta with variants of “Peachtree” in the name.
3. World of Coca-Cola – Explore the fascinating story of Coca-Cola, the world’s best-known beverage brand and Atlanta’s signature drink.
4. Georgia Aquarium – With more than 60 exhibits, the Georgia Aquarium weaves a global water story with a tank of whale sharks you will not want to miss.
5. Zoo Atlanta – Home to Atlanta’s cutest celebrities, Mei Lun and Mei Huan the pandas, visitors can enjoy animals from all over the world in their natural habitats.
6. The Varsity – The world’s largest drive-in, originally opened in 1928, serves more than 30,000 people when the Georgia Tech Yellow Jackets play a home football game.
7 Stone Mountain – Well known for its geology and as the largest bas-relief sculpture in the world, Stone Mountain Park offers fun for the whole family.
8. Piedmont Park – This 189-acre urban park is in the center of Midtown and is where Atlantans go for festivals, strolls, fitness and some of the best skyline scenery in the city.
9. Atlanta Botanical Garden – Featuring 30 acres of plant life, this attraction adjacent to Piedmont Park offers events, classes and collections to help you commune with nature.
10. Education – From Georgia Tech, Emory and Georgia State, the city’s higher education creates a quality and diverse employee environment and gives back to the city in immeasurable ways. With more than 57 colleges and universities and more than 250,000 students enrolled each year, Atlanta is definitely a “college town.”
11. High Museum of Art – The leading art museum in the Southeast, the High’s classic and contemporary collections and award-winning architecture bring some of the most famous exhibits in the art world to Atlanta.
12. The Fox Theatre – The gem of Peachtree Street, this premiere live entertainment venue holds 4,678 seats and is booked year-round with Broadway, ballet, rock and comedy shows. As hinted by its Moorish design, The Fox was originally planned as a shrine temple before it opened as a lavish movie theater in 1929.
13. Festivals – The Decatur Book Festival, Dogwood Festival, Taste of Atlanta and so much more: Festivals are plentiful, diverse and celebrate what makes the city tick.
14. Tennis – The No. 1 tennis city in the world and home to the Atlanta Lawn Tennis Association (ALTA), many of your neighbors in metro Atlanta are sure to hit the courts. But not without knowing What are the different tennis rackets?
15. Lake Lanier – A mere 45 minutes north of downtown Atlanta, Lake Lanier’s 38,000 acres of water are a prime location for water sports, relaxing on the docks and much more.
16. Weather – A city with four seasons, Atlantans enjoy only 2.1 inches of snow on average, Colorado-clear skies in the fall and that signature Southern heat in the summer months.
17. Blue Ridge Mountains – From exploring and hiking to shopping, dining and relaxing, there is no shortage of mountainside escapes that await you in Georgia’s Blue Ridge region.
18. Atlanta BeltLine – The most comprehensive revitalization effort ever undertaken in the city, this system provides public parks, multi-use trails and transit along a historic 22-mile railroad corridor circling downtown Atlanta and connecting many neighborhoods.
19. AJC Peachtree Road Race – An Atlanta institution for 45 years, the AJC Peachtree Road Race is hosted by Atlanta Track Club and is the largest 10K in the world, with more than 60,000 runners annually.
20. Martin Luther King, Jr. – The Sweet Auburn neighborhood of Atlanta, where Dr. King grew up, is a centerpiece of the Martin Luther King, Jr. National Historic Site, and the King Center is a global destination to his legacy.
21. College Football Hall of Fame – Opened August 2014, this museum is dedicated to college football and signifies the South’s love of the sport and the great accomplishments made over the years.
22. Atlanta Braves – You’ll be sure to hear the “Tomahawk Chop” a mile away from Turner Field, the current home of Atlanta’s Major League Baseball team.
23. Atlanta Falcons – Atlanta’s team joined the NFL in 1965 and construction on a $1.4 billion stadium, which will seat 83,000, is underway and it is scheduled to open in 2017.
24. Centennial Olympic Park – Built for the 1996 Centennial Olympic Games, this 21-acre park in Downtown serves as Atlanta’s lasting legacy to the Olympics and the revitalization of Georgia’s capitol.


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Ask the Right Questions when Selling Your Home

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When hiring an agent make sure you find the answers to these questions.
How fast do homes in my neighborhood sell?
Are there any marketing costs that I will have to pay when selling my house?
What are the fees that your company will charge me?
What kind of advertising will you do in order to sell my house?
How many “showings” will I have to do for prospective Buyers when trying to sell my house?
Who will these people be that are walking through my house?
Do you offer any guarantees for your services? Find the best extensometer and other important tools you need at home on this site.

Asking questions like these will help you to compare services and to choose the company that best fits your needs.


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BIG Property Tax Breaks for Seniors in Metro Atlanta

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If you are moving from another state to Metro Atlanta or perhaps are even a local resident entering your 60s, you will want to consider the generous property tax exemptions offered to seniors in several Metro Atlanta counties. If you do your research and plan your move with your pet’s best interests in mind, you should be able to make it a little bit easier on both of you. Check it out moving pets abroad information and visit this link theedgesearch.com.

All Georgia residents are eligible for homestead exemptions on their primary residence with the amount of the exemption varying in each county and sometimes also by city. These exemptions can generally save you a couple of hundred dollars a year or more, again depending on the county. Additional “Senior” exemptions (again for primary residences) are available that vary by county, in some cases starting as early as age 62 or as late as 70. when the exemptions apply to School taxes, the savings can be in the thousands! To apply for any exemptions, you must have lived in the home as of January 1 and if there is an age-related exemption, one person on the deed must be the specified age as of January 1.

East of Atlanta might be the place for you if you are looking to save more of your retirement.


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Checklist For Your Home Loan

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Checklist

  • W-2 forms from the previous two years, if you collect a paycheck.
  • Profit and loss statements or 1099 forms, if you own a business.
  • Recent paycheck stubs.
  • Most recent federal tax return, and possibly the last two tax returns.
  • A complete list of your debts, such as credit cards, student loans, car loans and child support payments, along with minimum monthly payments and balances.
  • List of assets, including bank statements, mutual fund statements, real estate and automobile titles, brokerage statements and records of other investments or assets.
  • Canceled checks for your rent or mortgage payments.

 

 


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Need Help in GA paying your House Note?

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HomeSafe Georgia is a free, state government program to help homeowners who are unemployed, underemployed or face other types of financial hardships save their homes from foreclosure. There is no cost to apply and no fee if you are approved.

A homeowner who has experienced a financial hardship within the last 36 months i.e. hardship associated with loss of job, military service, death of a spouse, or medical hardship may be eligible for HomeSafe Georgia assistance.

See if you qualify by clicking here.

 


YOUR 1st STEP TO BUYING OR SELLING IN EAST ATLANTA IS CONTACTING ME!