Paying attention to how your home will appear to others will help you sell your home

If you are trying to sell a home in today’s market there are a few things to keep in mind that will help your home stand apart from the pack.  Prioritize and analyze what will fit in your budget and take the steps necessary to make your home show well and appeal to prospective buyers.

• Fresh & Clean: Inspect your home inside and out. Does it need a fresh coat of paint? A new coat of paint will always be recouped in the sale of a home and is well worth the cost.  Does it look clean and spacious?  Pack up extra items that are not in use, the more clutter free the better it will show.  Just like an empty house shows better.

• Curb appeal: Pay attention to your home as if you were a potential buyer.  Is it warm and inviting?  Clean?  Spruce up your landscaping, make sure that your lawn is green and well-kept, that your flower beds are weeded and mulched, and that the exterior of your house is clean and presentable.

• Inspection: There will be a home inspection completed by the buyer after you receive the agreed upon contract. If its in your budget try to do one yourself.  Attend to as many items that could possibly hold up the sales process.

• Best areas of a home to update and remodel? The Master Bathroom and Kitchen.  Don’t spend the money to redo your entire home but remodeling the master bath and kitchen areas of your home will make it more appealing and quickly catch a buyer’s eye.

• Evaluate: Are the remodel/updates going to net you more than you are putting into them?  It is very important to pay attention to your local market and make the improvements that will help not hurt.  If you are not going to get the money back that you are intending to put into your home, don’t make changes.  Do only low-cost improvements and concentrate on making sure your home is kept neat and clean.

Check out YahooRealEstate.com for more information and helpful hints on ways to sell your home. If your interested in selling your home call Bonnie Mullinax at 770.606.0054 for a FREE market analysis.

There is no doubt that the first time home buyer tax credit is a great thing but there are a few things to know before you assume that you qualify for the full $8,000.  The tax credit breaks down as follows:
Who qualifies? First time home buyers and people (or spouses) who have not owned a home for the previous 3 years.  You must purchase your home between January 1, 2009 and December 1, 2009.

• What qualifies for the first time home buyer’s tax credit? Only a primary house qualifies.  It does not matter if it is a single family home, duplex, townhome, condo, apartment or co-op, if it is a primary residence it will apply.

• What is the amount of the first time home buyer’s tax credit? $8,000 is the maximum amount of the credit.  There are 2 factors at play when it comes to getting the credit: The cost of the home and the income of the person or married couple purchasing the home.  The credit can be 10% of the closing price up to $8,000 or a person making $75,000 or less or a married couple making $150,000 or less are eligible for the full $8,000.

• Do you qualify for the first time home buyer’s tax credit if your income is higher? Yes and no.  If you make more than the $75,000/$150,000 limit you get less of a credit.  The maximum income is $95,000 for singles or $170,000 for couples.  If you make more than the maximum income you are not eligible for the tax credit.

The tax credit is a real boost for first time home buyers and does not have to be repaid.  If you qualify for the tax credit and have been considering purchasing a new home there could not be a better time to call a lender.  Low interest rates, low home values and the first time home buyer tax credit all add up to the right time to call Bonnie Mullinax your experienced Bartow County Realtor.

Resource and for more information: Realtor.org or call The Mullinax Team at 770.606.0054.

Making green improvements to your home can be good for the environment and your wallet

On February 17, President Obama signed into law the American Recovery and Reinvestment Tax Act of 2009.  This bill extends and modifies the tax credits for windows, doors, and skylights established in the Energy Policy Act of 2005. Going green can not only improve the environment but can also help the wallet.  If renovations are in store for your home consider making them energy efficient.  There are tax credits for 30% of energy efficient home improvements for amounts of up to $1,500 for improvements to existing homes.  Acceptable projects include:

•    Windows and Doors
•    Insulation
•    Roofs (Metal and Asphalt)
•    HVAC
•    Water Heaters (non-solar)
•    Biomass Stoves

There are also tax credits available for 30% of the project cost, no limit, for existing homes and new construction.  These projects include:

•    Geothermal Heat Pumps
•    Solar Panels
•    Solar Water Heaters
•    Small Wind Energy Systems
•    Fuel Cells

Reducing the carbon footprint for your home has never been more affordable or had such incentive.  Whether you want to change your windows or alter your home’s energy source, making changes to make a difference in our environment can help save you money.

For information on energy efficient tax credits click here or call The Mullinax Team at 770.606.0054.

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If you are a first-time home buyer, before you even look at houses for sale, the most important thing you can do is figure out exactly how much you can afford on a mortgage payment per month. This will save you wasted time and the disappointment of looking at houses that you may later learn that you simply cannot afford. You first must figure out your debt-to-income ratio. Lenders prefer that you use 36% and under, but you might want to consider using 28% of your gross monthly income for housing expense. Following are the steps to figure out the math:

1. Figure out all of your debt. Multiply your gross monthly income by .36 to find your total allowable monthly debt.
2. Add up all of your fixed monthly expenses.
3. Subtract your fixed monthly expenses from your total allowable monthly debt.

This number is the amount that you have for your mortgage payment, your home owner’s insurance and your property taxes. Any local lender or bank can also help you with this.

Let the Mullinax Team help you in purchasing the right home for you. For more help figuring out your total allowable monthly debt see a home affordability calculator or call Bonnie Mullinax at 770.606.0054 for more detailed information.

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Identity theft has become a very serious problem in the United States. Thieves are not only stealing your personal information for themselves, but many simply sell it on the black market to another thief. They are using this personal information not only to obtain cash and credit cards, but high-cost electronics or medical procedures as well. There are a myriad of ways that thieves can steal your private information. Be aware of the following threats:

• Phishing: This is an e-mail in your Inbox that claims to be from either your bank, Paypal or Ebay, or other online service. They then ask you to click on a link and enter your personal information. Phishing is the crime of attempting to acquire the username and passwords of bank accounts and credit cards.
• Spoofing and Pharming: Thieves can actually redirect legitimate website traffic to an imposter site, where they will ask you to enter your personal information.
• Spyware: It is very common for people to mistakenly download illicit software and find themselves accidentally clicking on a pop-up. This opens the door for thieves to steal your credit card numbers and passwords by accessing information on your hard drive.
• Vishing: This is “voice phishing”, which is when a thief sends you a phone message asking you to key in your personal information.
• Bank card skimming: Thieves actually add a fake ATM slot and camera to a legitimate cash machine so they can copy your account information. Servers at restaurants can also be armed with a portable card reader.
• Thieves try to steal your wallet and can also go through your garbage for personal information. If at all possible, buy a shredder to destroy bank account information, social security number and credit card information.

If you are concerned that you are an Identity theft victim go to the Federal Trade Comission website for more information.

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At some times it can be expensive to simply maintain the biggest asset most people will ever own: their homes. Keeping this fact in mind, here is a list of ways to increase your home’s value without breaking the bank.

• Hiring an home inspector can be the most cost-effective thing you ever do. This is true if they find a small problem that could grow into something much bigger down the line, such as a termite infestation or a roof or water leak.
• Tremendous value is added by simply painting a room, upgrading fixtures.
• Energy efficient homes that feature items such as special windows and/or programmable thermostats, save you money and are a marketable asset if you do need to sell.
• Landscaping improvements in the form of large shade trees make homes more desirable. They can also cut your cooling costs up to 40%.
• Improve your home’s air quality by replacing old carpeting, or removing it entirely if you are lucky enough to have hardwood flooring underneath.
• By adding a small luxury item such as a water filtration system, you are adding value to your home and saving yourself money since you will no longer need bottled water.
• Replace old fixtures such as an old ceiling fan for a newer, more updated-looking model. It will make your home more pleasant on hot days, and will appeal to buyers if you need to sell.
• Speak with Bonnie Mullinax, your local Bartow/Cobb County realtor, or an interior designer to check out your home for needed improvements.

Considering a short sale can be a daunting task if you are not armed with all of the necessary information regarding this type of transaction. Following are additional mistakes or problems that can be avoided if you know what to look for.

• Time: There never seems to be enough of it when conducting a short sale. Bonnie Mullinax, your local Bartow County Keller Williams Realty agent, understands local foreclosure laws and will be able to provide you with an estimated timeline on the possible sale of your home. Also, be sure that you or Bonnie Mullinax communicate effectively with your lender so that they begin to stall a foreclosure by getting more time to negotiate a short sale. Always provide Bonnie with accurate information as to how many payments you may have missed and any correspondence you have from your lender.
• You must submit the deal properly: Following the directions that you receive for submission is imperative. If you are asked to fax your file, then fax the file and send a hard copy in the mail. If they ask for two copies, send two, and so on. If you have a contract and have gathered all of your information, the last thing you want is for no one to see it and the deal falls apart.
• The buyer’s offer is too low: A short sale is not a fire sale! A lender still will only approve a deal that is more attractive to them than a foreclosure. Make sure you present only the most properly negotiated offers.
• The buyer’s contract is not strong enough: You may find yourself with offers from unqualified buyers. Don’t forget to ask for verification from a buyer that they have been pre approved for financing.