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Save Money on Your Property Taxes!

Listen up homeowners! If you bought a property that was vacant or not a primary residence, you may be paying too much in property taxes! Even if your property was someone’s primary residence, if they didn’t file for Homestead Exemption, you may be overpaying. What is Homestead Exemption? In Georgia, Homestead Exemption is a reduction in real estate property tax. How do I get Homestead Exemption? Homeowners may be granted Homestead Exemption if the property is their legal residence as of January 1 of the taxable year. To be considered the legal residence, the home must be the primary residence of the owner. Where/How do I file? Homeowners must apply with the tax commi...

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Investors! Read This Before You Buy a Condo!

You’ve likely heard it hundreds of time before…now is the time to buy!!! And it’s true, prices are down and interest rates are low. It’s a great time to make some savvy investments. But when considering a condo versus a single family home, it’s important to keep something in mind—the leasing permit. I’ve had several buyers interested in snatching up some of these foreclosed condos at rock bottom prices (I’ve seen prices as low as the $20,000), put a little work into them, and then lease them out. It seems like a great plan, a smart investment, and a win-win situation for both buyers and sellers. And with the current difficulties buyers are having obtaining financing,...

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Should You Buy a Short Sale?

The term “short-sale” is definitely a misnomer. The process is anything but short. But if you have patience and can deal with a few headaches, you can end up with an incredible value. What is a short sale? In a short sale, the homeowner owes more on the property than what the current market value of that property is. The holder of the mortgage (the bank/lender) agrees to forgive part of the loan amount in order complete the sale. Note- just because a property has advertised itself as a potential short sale does not mean the bank has approved the short sale. Why does it take so long? A short sale is contingent on the third party approval of the lender. And with the current st...

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