Georgia New Homes

Buyer Rebates Georgia, GA

2008-03-29T18:37:00Z

Home buyers in Georgia (GA) are looking to reduce the cost of buying a home; can anyone blame them? Buyer rebates are a very effective approach to lower the cost of a real estate transaction for the home buyer. Depending on the buyer's lender requirements, buyer rebates in Georgia can be applied to closing costs, an interest rate buy-down or a rebate check after closing. A rebate puts thousands of dollars back into the hands of the buyer -- a monentary benefit that they would not usually receive. Generally, other parties to the real estate transaction would retain these funds; however, with a rebate in place, the buyer saves at closing.

Before looking at any homes in Georgia (GA), consult with a buyer's agent that will offer the buyer a money-saving rebate. Click here for rebates on new homes. Click here for rebates on resale homes.

Stephen Graham

Realty Professionals, Inc.
Georgia New Homes
Atlanta, Georgia -- GA

Acworth, Alpharetta, Atlanta, Auburn, Austell, Buford, Canton, College Park, Conyers, Covington, Cumming, Dacula, Dallas, Douglasville, Duluth, Dunwoody, Ellenwood, Fairburn, Fayetteville, Flowery Branch, Grayson, Hampton, Hiram, Holly Springs, Hoschton, Jonesboro, Kennesaw, Lawrenceville, Lilburn, Lithia Springs, Lithonia, Locust Grove, Lovejoy, Mableton, Madison, Marietta, Mcdonough, Monroe, Newnan, Norcross, Peachtree City, Powder Springs, Roswell, Sandy Springs, Smyrna, Snellville, Stockbridge, Stone Mountain, Sugar Hill, Suwanee, Tucker, Tyrone, Union City, Villa Rica, Vinings, Woodstock, GA - Georgia

Cobb County, Forsyth County, Cherokee County, Paulding County, Fulton County (North - South), Douglas, Clayton, Henry, Coweta, Fayette, Dekalb, Gwinnett, Jackson, Walton, Hall, Newton, Rockdale, GA - Georgia

Buyer Rebates Georgia, GA

Cash back at closing. It’s a convoluted issue.

2007-08-18T18:01:00Z

With all the confusion these days, I wanted to expound. This is, after all, an important issue. There are many cash back real estate deals; some are legal, but most aren't.

There is a particular cash back scam that buyers and sellers should be aware of. This scheme is perpetrated by unscrupulous real estate investors, brokers, agents, loan officers, appraisers and/or other industry insiders.

The ploy works like this: an unsuspecting buyer is told that he/she can buy a home as an investment and receive tens of thousands of dollars cash back. It sounds like a great deal for the buyer. The insiders will seek out hard-to-sell properties and solicit an unsuspecting seller. The seller is usually desperate to sell and the insiders will tell the seller that they have a buyer who will buy the home at an inflated price. The extra loan proceeds will then be kicked back to the buyer and the other professional participants. The seller thinks it is legitimate since the insiders are the "professionals". The only problem is they don't tell the lender and therein lies the crime. The lender is duped into giving a loan based on a fraudulent sales price and false terms of the sale. Many times the participants intentionally fail to give the unsuspecting buyer the promised cash back. The buyer would be obviously upset and will not make any mortgage payments. The home will eventually end up in foreclosure. The lender has incurred a major loss because the real value of the home is much lower than what it was duped into believing. After all, an appraisal was done -- albeit fraudulently. The real value of the home will not be realized until the lender finally sells the home to a real home buyer. The lender's loss is very significant.

Here is an article regarding illegal seller-to-buyer cash back at closing schemes.

http://realtytimes.com/rtapages/20070806_illegalflipping.htm

A seller cannot kick back funds to the buyer outside of the settlement process. This is strictly illegal.

However, consumers [home buyers & sellers] should not allow this type of illegal activity to be construed in the same manner as a commission cash back rebate to the buyer or seller. This is perfectly legal. The very same department-- USDOJ-- that has pursued the illegal scheme in the aforementioned article is the same department that has been fighting vehemently to protect and allow real estate commission cash back rebates. These are two different types of cash back.

More on this. Scroll down to paragraph #35. Here is the pdf: http://www.ftc.gov/bc/international/docs/improvingcompin_Real_Estate_Transactions.pdf

Stephen Graham

Who's Right About the Housing Market?

2007-07-25T18:49:00Z

Who's Right About the Housing Market?

With so many varying opinions, what is a home buyer to do? Good advice suggests paying close attention to who is writing the article. What experience in Real Estate does the author have? Is there a motive? I have read many articles from the Wallstreet crowd whose agenda squarely lines up with their best interest. Obviously, if the housing market is down, then people will put their money back into the stock market. Hence, there is a motive for writing negatively about the housing market.

Alternatively, I have sought a balanced opinion. To be fair & balanced, I hope this article adds clarity to this confounding issue.

http://www.realtown.com:80/articles/experts-vs-neophytes--whos-right-about-the-housing-market

Atlanta New Homes & Atlanta Home Builders

2007-05-28T17:47:00Z

Many ask “who is the best Atlanta home builder”? My response is: “Well, that depends on what is most important to you in a new home”. There is no simple answer for everyone -- just as there is no particular vehicle for all drivers. Most of us have to strike a balance between “affordability” and “quality” and buying Atlanta new homes is no different. If money was of no concern, then we could all custom build our home to meet our exact specifications -- but that is not reality.

I have seen many of our buyers purchase new homes from what I deem to be “value” builders; bang-for-the-buck home builders. These new homes tend to be large in size with “no frills”. Since these builders typically don’t offer many upgrades or options, these homes are then upgraded (after the purchase) with hardwood floors, corian or granite counter tops, ceramic tile, etc.. These buyers save money by doing these upgrades themselves and thus are reaping more equity. The mere size of these homes aren’t even matched by higher-priced builders so these new home buyers are in a strong position after adding these upgrades.

In conclusion, take a look at what you can afford. Then, exploit any disadvantage you see with a particular builder so you reap the benefits in the long term. Meaning, learn how to do the “small things” to your new home that make a “big difference” to your bottom line.

Stephen Graham

Are Realtor Rebates Taxable?

2007-04-14T21:13:00Z

With tax season upon us, folks have been asking about whether Realtor rebates are taxable as income to the purchaser who receives the rebate.

Common Question: What is the tax liability of a rebate?
Answer: Our legal resources have indicated that a real estate rebate is not taxable. We do, however, recommend that you discuss tax ramifications with your tax professional.

The information you obtain at this site is not, nor is it intended to be, legal advice.

Realtor Rebates Good For Consumers

2007-04-14T13:38:00Z

To everyone in the housing market, be glad you live in Georgia . Realtor Rebates are legal in our State, but consumers in other states aren't so fortunate. For example, between 11 and 16 states currently prohibit or limit commission rebates by realty brokers. However, The United States Department Of Justice (USDOJ) is fighting for Real Estate Consumers all across the country. Realtor Rebates are good for Consumers. Here is a recent ruling in the State Of Kentucky where consumers weren't able to receive rebates from their agents. Recently, the State of Kentucky was sued by the Federal Government on anti-trust grounds because of its state law prohibiting rebates. Kentucky and the U.S. Department of Justice (USDOJ) have now reached an agreement which allows agents in that state to offer rebates.

http://www.usdoj.gov/atr/public/press_releases/2005/210058.htm

In its suit, the Justice department said the Kentucky commission's ban "is a violation of the anti-trust laws that inflicts higher prices on Kentucky consumers." Federal anti-trust laws "protect consumers against restrictions on competition," said Pate, "even when they are adopted by state-created entities like the Kentucky Real Estate Commission."

THE WALL STREET JOURNAL

Regarding a buyer who used a rebate compnay to buy a home “... Jeffrey D. Thomas received something more memorable: a check for more than $10,000.”

By JAMES R. HAGERTY
Staff Reporter of THE WALL STREET JOURNAL

Know Your Mortgage

2007-04-09T16:18:00Z

Over the past few months, mortgage delinquency rates and home foreclosures have been creeping ominously upward. Given that we're now heading into the home-buying season, it is recommended that every homebuyer -- and anyone contemplating a mortgage refinance -- should assume full responsibility for understanding what they're agreeing to when they sign their mortgage documents.

This is an excellent article from Suze Orman:

http://finance.yahoo.com/expert/article/moneymatters/28599

New!

2006-11-08T22:08:00Z

Welcome users. In an attempt to help users get the most out of their new home purchase, we have created a blog dedicated to New Homes.

Enjoy!

Steve Graham