If you purchased a home in 2013: Homestead Exemption

It's that time of year again! I wanted to remind you to file for Homestead Exemption if you have not done so already.  According to Georgia law, if you purchased your home between January 1, 2013 and December 31, 2013 you may be eligible to claim a Homestead Exemption, which will reduce your property taxes.  Following is county-by-county contact information and deadlines for filing Homestead Exemption.  Be sure to confirm eligibility and requirements with your county of residence.

CHEROKEE: 2782 Marietta Hwy, Canton 678-493-6120

File Dates: By April 1, 2014

You must file in person.  Bring a copy of driver’s license & warranty deed.

www.Cherokeega.com

Office Hours: M-F 8:00am-5:00pm

COBB: 736 Whitlock Ave, Suite 100, Marietta                     770-528-8600

         4400 Lower Roswell Road, Marietta

                       4700 Austell Road, Austell

                                   File Dates: By April 1, 2014

File by mail or in person.  Bring warranty deed, identification, your license tag number and name of current mortgage company. Most new property owners will receive a form by mail or may be requested after January 1.  

www.cobbtax.org

Office Hours: M-F 8:00am-5:00pm

DEKALB: 4380 Memorial Drive, Suite 100, Decatur 404-298-4000

1358 Dresden Drive, Atlanta

2801 Candler Rd, Decatur

File Dates: January2 – April 1, 2014

** Should receive information in the mail sometime in January, if not call.  Return by certified mail with a copy of your warranty deed.  

www.co.dekalb.ga.us/taxcommissioner

Office Hours vary by location so call or check website for details

FORSYTH: 110 East Main Street, Suite 260, 770-781-2106

Forsyth Administration Bldg., Cumming, 30040

File Dates: By APRIL 1, 2014

You must file in person.  Bring a copy of driver’s license (address must match property address) & recorded warranty. Only those whose name(s) appear on deed can file.

Office Hours: M-F 8:30am-5:00pm

www.forsythco.com

FULTON: 141 Pryor Street, Suite 1047B, Atlanta 404-612-6440  

7741 Roswell Road NE, Suite 261, Sandy Springs 404-612-6440

3155 Royal Drive, Suite 175, Alpharetta 404-612-6440

 5600 Stonewall Tell Rd, Suite 224, College Park     404-612-6440

                                  File Dates:  By APRIL 1, 2014

File in person only!  Bring copy of warranty deed, photo ID, car tag number, social security number for self and spouse. You may be able to file by mail ONLY if your deed is already in the system.

www.fultonassessor.org

Office Hours vary by location so call or check website for details

GWINNETT: 75 Langley Drive, Lawrenceville (1st floor) 770-822-8800

File Dates:  By April 1, 2014

Should receive information in mail by end of January or call after February 1st to request an application by mail; to file in person, bring your warranty deed.

Office Hours: M-F 8:30am-5:00pm

www.gwinnetttaxcommissioner.com

HALL              2875 Browns Bridge Rd, Gainsville                            770-531-6720

                               You may also Fax to…                                              770-531-3968

                                   File Dates: Before March 1, 2014   

Tax Assessor's Office for the current tax year. You must be living in the property as of January 1 to qualify.

www.hallcounty.org

Please note that the above phone numbers, addresses and dates were verified as of December 2013.  The locations and dates are subject to change without prior notification.  Please be sure to contact your county for thorough information and requirements.

2013 Reflections

HAPPY NEW YEAR!

2013 was a fantastic year where we saw a rebound in the Atlanta real estate market for the first time since 2007.  I was privileged to close 21 transactions this year, which is about perfect: enough to keep me plenty busy, but not so many that I didn't have the time I wanted to devote to each client.  This allowed me to still give every client and transaction my full attention and high level of service that I strive for.  Throw in the addition of a new baby, plus renovating and moving into a new house, and 2013 was a knock-out year all around!

I always like to go back at the end of the year and review everything that happened to gauge what I did well and areas that can stand some improvement.  And because I like to be as transparent as possible, I'm going to share those reflections with you!

2013 stats:

I represented 10 sellers in $2.54M in transactions, with an average DOM of 20, and all but 2 sold in under 12 days. Average sales price of $254k and ranging from $132,000 to $446,000.  On average my listings sold for 99% of list price. Representing the neighborhoods of Grant Park, Buckhead, West Midtown, East Atlanta, Candler Park, Decatur, Marietta, Roswell, Mableton, Smyrna, Powder Springs, and East Cobb. 

I represented 11 buyers in $3.94M in transactions, with an average sales price of $359k, ranging from $149,900 to $708,000 and representing the neighborhoods of Morningside, Grant Park, East Atlanta, Winnona Park, Gresham Park, Inman Park, Decatur, Historic Roswell, Historic Marietta, East Cobb, John's Creek, and Alpharetta.

10 of the transactions were with repeat clients, and every other client was referred to me by a previous client.  This is a huge WIN for me! I have made it a priority to build my business working by referral and this is the first year that every single one of my clients came via that avenue.  I am so proud of that statistic, as I think it most represents what I am striving for in my business: to do a fantastic job, provide unparalleled service, and create lasting relationships. 

2013 was a great year, and I have high hopes that 2014 will be even better. I truly have the very best clients and I adore helping them realize their real estate dreams!

Press Release: Alix Wilcox Nadi Awarded Best of 2013 on Kudzu

Alix Wilcox Nadi Awarded Best of 2013 on Kudzu

Voted by the Kudzu Community as a Top Atlanta Realtor

Atlanta, GA – December 10, 2013 – Alix Nadi was named a Best of 2013 winner for Atlanta Realtor on Kudzu.com, a leading source for local business information and consumer reviews.

Over 5 million local businesses competed across a wide range of categories including home, auto, health, and professional services. Winners were determined based on thousands of votes from consumers in the Atlanta Kudzu community. Alix Nadi received the top honor and will be recognized with a Best of 2013 badge displayed on her Kudzu business listing page.

Alix has lived and worked in Atlanta her entire life, graduating from Georgia Tech with an Architecture degree in 2002.  Since joining RE/MAX in 2007, she has been dedicated to helping people realize their real estate dreams, closing $16.5M in transactions all over the metro Atlanta area. She has been a top agent in her office for the last 5 years and was honored as one of Jezebel Magazine's "Top Real Estate Professionals in Atlanta" in 2010. 

Alix’s business is built entirely on referrals and she believes there is no greater compliment than when a past client sends a friend or family member her way.  A huge part of her job is building relationships, and she is proud to say that many of her clients have become good friends.  “I count on the assumption that if I provide the very best service possible to my clients, they will happily refer me to their friends and family…and I create lasting relationships along the way.”

“The ‘Best of’ contest allows consumers to show their appreciation for local businesses that have served them well. Kudzu is proud to be an avenue for this support, and to recognize companies that offer the highest levels of service” stated Fran Wills, General Manager of Kudzu.

Alix’s diverse knowledge base allows her to provide unparalleled service to her clients, working tirelessly with an energy and enthusiasm for the job she does. Her goal is to help guide her clients through what can often be an intimidating and confusing process with the least amount of stress possible.

“I strive to eliminate confusion in the home buying and selling process, and devote myself to serving the needs of my clients before, during, and after each transaction. I am proud that my clients and Kudzu users voted me as one of the best Realtors in Atlanta. Winning this award from Kudzu only strengthens my commitment to my clients!”

Please visit http://www.kudzu.com/best for a full listing of the Best of 2013 winners.

About Alix Nadi, REALTOR 

Alix serves buyers and sellers throughout the metro Atlanta area, helping them with all their real estate needs from listing through closing and beyond.  She is a Certified Negotiations Expert (CNE), Certified Distressed Property Expert (CDPE), graduate of RE/MAX’s 100 Days to Greatness program, and an Executive Club member since 2008. She has been with RE/MAX Around Atlanta since 2010 and you can find her on the web at www.AlixNadi.com.

About Kudzu.com:

Kudzu.com helps consumers evaluate local services and choose highly rated providers in their area. The website features expert videos, business profiles, consumer reviews and money-saving deals in every major U.S. city. Kudzu.com is owned by Cox Search Inc., a subsidiary of Cox Enterprises, a leading communications, media and automotive services company. Cox's businesses include Cox Communications, Manheim, AutoTrader.com and Cox Media Group. For more information, please visit http://www.kudzu.com/. 

5 Reasons to Sell Before Spring

I am a big proponent of not waiting until Spring to list your house, this year in particular due to the even more severe shortage of inventory than normal.  This article, from http://www.keepingcurrentmatters.com, explains why.

Many sellers feel that the spring is the best time to place their home on the market as buyer demand increases at that time of year. However, the fall and winter have their own advantages. Here are five reasons to sell now. 

Only Serious Buyers Are Out 

At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere 'lookers'. The lookers are at the mall or online doing their holiday shopping. 

There Is Far Less Competition 

Housing supply always shrinks dramatically at this time of year. The choices for buyers will be limited. Don't wait until the spring when all the other potential sellers in your market will put their homes up for sale. 

The Process Will Be Quicker 

One of the biggest challenges of the 2013 housing market has been the length of time it takes from contract to closing. Banks have been inundated with both purchase and refinancing loan requests. Both of these will slow in the winter cutting timelines and the frustration these delays cause both buyers and sellers. 

There Will Never Be a Better Time to Move-Up 

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 25% from now to 2018. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with historically low interest rates right now. There is no guarantee rates will remain at these levels in years to come. 

It's Time to Move On with Your Life 

Look at the reason you decided to sell in the first place and decide whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
You already know the answers to the questions we just asked. You have the power to take back control of the situation by pricing your home to guarantee it sells. The time has come for you and your family to move on and start living the life you desire. That is what is truly important.

Thanks to Kim Jones from Fidelity Bank for passing along this great article! 

New Lending Changes Coming in 2014

1. If you don't know what "QM" and "ATR" stand for yet, now is a good time to learn because you are sure to hear a lot about them in the months ahead. QM stands for "Qualified Mortgage" and ATR stands for "Ability-to-Repay." They need to be on your radar screen because they are the center-piece of a new set of mortgage rules set to roll out on January 10, 2014 that are a requirement of the seemingly never-ending Dodd-Frank Wall Street Reform and Consumer Protection Act. Attached is a thorough overview of the rules but below is a briefer summary of the key things you need to know.

2. Effective with the new set of rules, lenders will only be able to offer "Qualified Mortgages" that meet "Ability-to-Repay" standards. The intent is to eliminate many of the risky mortgage programs that caused the mortgage collapse five years ago.  Obviously, there are many politicians clueless to the fact that the industry has already naturally reacted and even over-corrected. Nevertheless, expect even more underwriting scrutiny moving forward as there is more at stake than ever for lenders to substantiate and document a borrower's income, debt, credit, and assets. Needless to say, there will only be "full doc" loans offered in the future.
3. Outlawed loan types moving forward include negative amortization, interest-only, balloons, and amortization periods over 30 years. No major losses on this list.
4. The most threatening new rule is a cap of 43% on the debt ratio. You are certain to hear a lot about this new cap but be aware that for the next seven years this cap does not apply to any Conforming, FHA, VA, or Rural Housing loans that get an automated approval. Fortunately, this is most of the loans made in 2013! Not sure what the significance of seven years is but unless this is overturned, the number of loans lenders can make is going to drop a lot in 2021 because a large percentage of loans made today do have debt ratios over 43%. For now, the greatest impact with this cap will be on Jumbo loans > $417,000.
5. A few other rules worth mentioning:

• There will be a cap on the points and fees that lenders can charge of 3% of the loan amount for loans > $100,000. Up to two additional discount points that are used to buy down rate will be allowed. There is ongoing discussion about which fees are part of the 3%. In its current state, this rule will give the consumer fewer mortgage options which is not a good thing. For example, programs that allow the borrower to pay for the PMI in advance rather than monthly might no longer be allowed.

• ARM loans must be underwritten at whatever the maximum possible loan rate is over the first five years of the loan.

• Another victim of this law is the Conventional 3% down loan. The minimum down for all Conventional loans moving forward will be 5%.

6. One of the key components of the new rules is the fact that borrowers who have been foreclosed on will actually have the ability to sue lenders claiming that they did not have ability to repay. Lenders have a "safe harbor" from such lawsuits, however, if they properly document loans and keep the interest rate on the loan within 1.5% of the "Average Prime Offered Rate" (APOR). You can bet that lenders will be going to a lot of trouble to only offer loans that meet the safe harbor requirements.  

Thanks to my buddy Mark Moore with Shelter Mortgage for this info!