Potential Tax Credits in your Home

Everyone is looking for opportunities to potentially reduce their tax liability. Did you know there are several home improvement projects that can help you in this regard? Here is a list of some of these projects. As always, you should consult with your tax professional before beginning any of these home improvement projects to confirm your individual eligibility.

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  (New!)

  Tax Credits for Solar Water Heaters

  A federal tax credit makes energy-efficient solar water heaters a more affordable and sustainable option for many homeowners. Read
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  Tax Credits for Replacing Heating and Cooling Systems

  Upgrading to an energy-efficient heating and cooling system can save hundreds on your utility bills and up to $1,500 on your tax bill. Read
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  Tax Credits for Replacing Your Roof

  Upgrading to a qualifying energy-efficient metal or asphalt roof can cut your cooling bill as well as knock off up to $1,500 from your tax bill. Read
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  Tax Credits for Adding or Replacing Insulation

  Adding insulation is one of the easier and cheaper ways to improve your home’s energy efficiency and cut your heating and cooling bills. Read
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  Tax Credits for Replacing Windows, Doors, and Skylights

  If money seems to be escaping through drafty windows, doors, and skylights, this federal tax credit might make energy-efficient replacements more affordable. Read

Visit houselogic.com for more articles like this.

© Copyright 2009 NATIONAL ASSOCIATION OF REALTORS®

Today's Installment of Atlanta Real Estate News

Yesterday we looked at the percentage of Distressed listings in relation to the number of overall Active listings in Area 14 (Alpharetta/Roswell East of 400). Today we will review Active list prices and the number of homes that have experienced a price reduction during their current listing period.

Every Seller has primarily two main objectives.......to sell their home at the highest price possible and in the shortest amount of time. Obviously there are many factors that play in to a Seller's ability to accomplish these two tasks. They are the Condition of the property, the Location, how well the property is Marketed/Exposed to potential consumers, Economic factors and Price. Some of these factors are within the seller's control and some or not, however they are all inter-related and impact a seller's ability to sell in the fastest amount of time at the highest price.

Pricing a home correctly is one of the biggest challenges in this current housing market. A few signs that a home is potentially over-priced are a low number of showings, feedback from purchasers that have looked at the home that it is over-priced compared to other things on the market, or a lack of any offers on the property. Often times sellers are required to reduce their original list price to attract "would-be purchasers". Today's graph illustrates the number of Active properties on the market, broken down in to price ranges and the percentage of those active listings that have experienced a price reduction during their current listing period.

As you can see, 42.5% of all Active listings have experienced a price reduction in an attempt to get more in alignment with the current housing market dynamics with the largest percentage occurring in the $375,000-$500,000 price range (51.4%).*

Getting the list price right the first time around is critical when it comes to selling a home at the highest price possible. When a price reduction is necessary it amounts to not only a longer amount of time on the market but also a considerably reduced final sales price in the long run. Check back tomorrow as we will review the consequences sellers face when they overprice the listing from the beginning!


*Source FMLS Active listings as of 9/21/09

Today's Installment of Atlanta Real Estate News

This week our focus is going to be on Area 14 (Alpharetta/Roswell on the east side of 400).  Have you ever wondered how many Foreclosures are currently listed for sale in FMLS?  What about the number of potential Short Sale listings, homes that are currently Vacant or homes that are Corporate Owned?  Each of these property types represents what I would consider to be a property under some form of "Distress".

Today we will look at the number of "Distresed listings" as they relate to the total number of Active listings currently on the market.  Properties that are in some for of "Distress" typically need to be sold as quickly as possible, and therefore often sell for a price that is lower than what a home that was not distressed might sell for.  Therefore, an Area that has a high percentage of homes that are "Distressed" can often times have a negative impact on average sales prices and adversely affect a "Non-distressed" homeowner's overall value. 

Unfortunately, there really isn't much a homeowner can do in regards to the number of "Distressed" homes available for sale in their area.  However, it is important for them to be aware of this statistic as it could have a bearing not only on the length of time their home might be on the market but also on  the amount they will most likely be able to sell it for.  If you would like additonal information such as this about the Roswell/Alpharetta area or Dunwoody, Sandy Springs or Brookhaven, just let me know!

Today's Installment of Atlanta Real Estate News

So, we all know Foreclosures have recently been having more of an impact on the real estate market and home values in general over the past 18 months, but what kind of impact have they been having in Area 13? (Roswell/Alpharetta west of 400). Well this graph illustrates the Year to Year comparison of the number of Foreclosure sales in Area 13 compared to the rest of FMLS.

As you can see, 2009 YTD through July the number of homes sold in a Foreclosure status accounted for 13% of all sales.* If you compare that to all of FMLS where 33.7% of all sales were Foreclosures it equates to over 2 1/2 times more foreclosure sales for all of FMLS compared to Area 13. This has obviously allowed homes in the Roswell/Alpharetta area to retain their property values better than most other areas of Atlanta.

If you would like more information on sales data in the Roswell/Alpharetta area or Dunwoody, Brookhaven or Sandy Springs, feel free to give us a call!

* Source FMLS Sales Data through July 2009

What's happening to Real Estate in Area 13?

As part of a regular series, I am going to begin sharing what is happening in specific real estate markets in and around the Atlanta market place. Each week I will focus on a specific area and provide information on recent sales statistics including what the Original List Price to Sales Price ratio was for the last month and what it is YTD, the average months of supply for the area based on recent sales, the average days on market, year over year sales comparisons and much much more. Check back often to get regular updates on what's happening in Dunwoody, Sandy Springs, Brookhaven, Roswell and Alpharetta!

This week our focus is going to be on Area 13, or what is more commonly known as Roswell and Alpharetta on the west side of 400 in Fulton County. Today's graph is a summary of the Months Supply of Inventory based on the number of homes sold per month.

In this graph you will see the number of Active units on the market each month, the number of homes sold in a given month and the Months Supply as a result of these two statistics since January 2008. It is commonly accepted that a "Balanced Market" is one in which there is an average of about 6 months supply.

This graph provides a nice snapshot in regards to how far or close the real estate market has been in Area 13 to a Balance Market. In January 2009 there was a 24 month supply of homes based on homes sold for that month. The average Months supply YTD is approximately 16.3 months, however we have seen marked improvement since then, indicating demand is catching up with supply and activity has been picking up. Please click the graph to expand it for easier viewing.

Truth or Consequences?

Pricing a home is critical in this market place! Price it too high and not in alignment with current market values and it could potentially cost you thousands of dollars and additional months of time on the market! For example, look at these statistics for recent sales in the Dunwoody, GA area. Better to face the truth than to deal with the consequences!