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As promised, I wanted to cover some of the good news that came out of the Housing and Economic Recovery Act of 2008, which was signed into law by President Bush at the end of July.

There’s a provision targeted for first-time home buyers who bought, or will buy, their home between April 9th of this year and July 1, 2009. You can receive a tax credit of up to 10 percent of the sales price, up to $7,500.

This is a tax credit, not a tax deduction. A deduction is an item that is subtracted from your annual income before income taxes are calculated. A tax credit is subtracted from the amount of taxes you owe.

Now you might be thinking that you don’t qualify since you’ve owned a home before. In reality, a “first-time home buyer” is defined in the new law, and includes those who may have owned a home in the past, but not within the last three years.

There are, as you would expect, income limitations on the tax credit - $75,000 per year if you’re single and $150,000 if filing a joint return to qualify for the full credit. The credit does phase out beyond those amounts up to $95,000 for singles and $170,000 for joint filers.

And one last caveat, the tax credit isn’t a gift - you do have to pay it back. It is effectively an interest fee loan that is payable over a 15 year period and repayment doesn’t begin until two years after purchase. If you sell the property before the tax credit has been fully repaid, any remaining amounts owed are due to the IRS upon closing.

You’re not required to file for the tax credit, that is completely up to you. The loan limitations for the program in metro Atlanta are $318,550. When combined with the new FHA requirement of a minimum 3.5% downpayment, that would cap the purchase price of your new home at about $330,000.

If you have any questions, feel free to contact us and we’ll be glad to fill you in on the details and discuss your options. And certainly, if you know of anyone thinking about purchasing a home, be sure to have them give us a call and we’ll be glad to advise them.

The good news is that there is quite a few homes, townhomes and condos in Smyrna Vinings up to this price range to consider. We’ve set up some home searches for you below, so simply click on the area you’re interested in purchasing a home.

Vinings homes, condos and townhomes

Smyrna homes, condos and townhomes

Mableton homes, condos and townhomes

Technorati Tags: Vinings homes, Smyrna homes, Mableton homes, home buyer tax credit, first time home buyers

[where: 30339]

[where: 30080]

[where: 30082]

[where: 30126]

Smyrna Vinings Featured Home

Fabulous Smyrna townhome just hit the market. Priced well below market. These townhomes in Vinings Ridge typically sell in the $370s-$380s and we’ve priced this one to sell quickly at $345,000!

From the minute you drive into this gated Smyrna townhome community, you’ll see the quality built into these John Willis townhomes. Stroll around the tree-lined streets and meet the neighbors. But you’ll love it when you step in the door.

The home’s features are rich and elegant and you’ll love living here. Features include:

* Hardwood floors
* Cast-iron balusters
* Stained cabinetry
* Granite countertops
* Stainless steel appliances
* Custom inlaid tile in all bathrooms
* Judges paneling
* Two fireplaces
* Upgraded lighting

Don’t miss this great opportunity. This John Willis resale in the Vinings Ridge townhome community is drop dead gorgeous. You can’t go wrong with this 3BR/3.5BA three story townhome offered at $345,000.

To learn more about this Smyrna townhome, check out the property flyer or contact us directly. Click here to schedule a showing.

This Smyrna townhome is exclusively marketed by:

Aaron Hofmann & Greg Godding

Keller Williams Realty Cityside

770-874-6383

Technorati Tags: 4433 Wilkerson Manor, Vinings Ridge, John Willis Homes, Smyrna Townhomes, Smyrna Real Estate

[where: 30080]

Saturday turned out to be awesome. After the weather had affected so many events in the Smyrna Vinings community this Spring, finally we managed to get some amazing weather. Even a bit cool for this time of the year.

The Wine Stroll in the Smyrna Market Village was great. There was a large turnout to sample over 60 different wines with wine stations set up throughout the Market Village. Thanks to The Wine Cellars for organizing this great event. Play the show to see some shots from the event.

Following the Wine Stroll, we had a short reprieve before the City of Smyrna’s Summer Concert Series kicked off. Large turnout for the event and everyone had a blast seeing friends and family and enjoying the band. Normally the Summer Concert Series are set up by the Smyrna Library with tables set around the fountain and everyone else joining in on the Village Green.

Little different setup on the City Hall steps with tables set up in the Market Village, but people really seemed to like the new setup.

In case you missed the fun on Saturday, just keep up to date on the local events via the Smyrna Vinings Events calendar. And hopefully, we’ll see you at the next one.

Technorati Tags: Smyrna Vinings Events, Smyrna Market Village, 2008 Wine Stroll, Smyrna Summer Concert Series

[where: 30080]

Smyrna Vinings Featured Home

From the minute you drive into this gated Smyrna townhome community, you’ll see the quality built into these John Willis townhomes. Stroll around the tree-lined streets and meet the neighbors. But you’ll love it when you step in the door.

The homes features are rich and elegant and you’ll love living here. Features include:

• Hardwood floors
• Cast-iron balusters
• Stained cabinetry
• Granite countertops
• Stainless steel appliances
• Custom inlaid tile in all bathrooms
• Judges paneling
• Two fireplaces
• Upgraded lighting

Don’t miss this great opportunity. This John Willis resale in the Vinings Ridge townhome community is drop dead gorgeous. You can’t go wrong with this 3BR/3.5BA three story townhome offered at $385,900.

To learn more about this Smyrna townhome, check out the property flyer or contact us directly. Click here to schedule a showing.

This Smyrna townhome is exclusively marketed by:

Aaron Hofmann & Greg Godding

Keller Williams Realty Cityside

770-874-6383

Technorati Tags: 4433 Wilkerson Manor, Vinings Ridge, John Willis Homes, Smyrna Townhomes, Smyrna Real Estate

[where: 30080]

Smyrna Vinings Featured Home

This townhome is conveniently located in The Palms and is close to parks, the Smyrna Market Village and I-285. The townhome has extensive upgrades throughout including hardwood floors, granite countertops in kitchen, dining room and bathrooms, stained cabinetry, custom butler’s pantry in dining room and stainless steel appliances.

This 3BR/2.5BA townhome is offered at $195,000/month or can be leased for $1,300/month.

To learn more about this Smyrna townhome, check out the property flyer or contact us directly. Click here to schedule a showing.

This Smyrna townhome is exclusively marketed by:

Aaron Hofmann

Keller Williams Realty Cityside

770-874-6383

Technorati Tags: 108 Rondak Circle, The Palms, Smyrna Townhomes, Smyrna Real Estate

[where: 30080]

Smyrna Vinings Featured Home

Wonderful townhome in Smyrna Vinings situated at 2538 Oakwood Way and loaded with great features. Take a spin of property by clicking on the real estate show above.

• Built by John Wieland Homes
• Open floorplan with lots of natural light
• Fantastic Sun Room with two sets of French doors and skylights
• Great Room features fireplace and built-in bookcases
• Lots of crown molding, nice trim work and transom windows
• Updated light fixtures
• Full basement with bonus room/office and full bathroom
• Large Master Suite with trey ceiling
• Fantastic covered patio includes a koi pond
• Two-car garage

This gorgeous 3 bedroom, 3.5 bath townhome is conveniently located in The Park at Oakley Downs in Smyrna, just off of Atlanta Road and Campbell Road.

To learn more about this Smyrna Vinings townhome, check out the property flyer, virtual tour or contact us directly. Click here to schedule a showing.

This home is offered at $250,000, which is the lowest price in the neighborhood!!!

Exclusively marketed by:

Aaron Hofmann & Greg Godding

Keller Williams Realty

770-653-9601

aaron@SmyrnaVinings.com

SmyrnaVinings.com

Technorati Tags: Smyrna Townhomes, 2538 Oakwood Way, Park at Oakley Downs, Smyrna Vining Real Estate

[where: 30080]

 This wonderful 3BR/3.5BA townhome is located in Westwood Terrace, a townhome community at the beginning of the Silver Comet Trail in Smyrna. The neighborhood features a neighborhood park, cabana and swimming pool and you can easily walk to coffee shops, restaurants and shopping.

The townhome has some great features including:

• Hardwood floors throughout main
• Cherry cabinetry
• Granite countertops
• Stainless steel appliances
• Upgraded trim throughout
• Privated wooded view

To learn more about this Smyrna Vinings townhome, check out the property flyer or contact us directly. Click here to schedule a showing.

This Smyrna Vinings townhome is exclusively marketed by:

Aaron Hofmann

Keller Williams Realty Cityside

770-874-6383

Technorati Tags: Smyrna Townhomes, 1625 Wehunt Place, Westwood Terrace, Smyrna Vining Real Estate, Silver Comet Trail

[where: 30080]

Ashton Woods has announced the Grand Opening of their new phase at Riverwalk at Wildwood, which offers luxurious three story brick townhomes in a secluded, gated community. Located in the Wildwood area, Riverwalk at Wildwood offers a serene wooded setting, yet is only minutes from I-75 & I-285! You’ll love the convenience of the location, but appreciate being so close to the Chattahoochee River National Recreation Park.

These elegant townhomes feature gourmet kitchens, spacious master retreats, open and inviting living rooms and so much more! The new phase will feature 44 townhomes in total with 8 actually being four stories.

As part of the Grand Opening, there are some great incentives. These include the terrace level being finished (includes Bonus Room, Bedroom, Full Bath) and 2% towards closing costs when using Ashton Woods Mortgage.

Also, from March 8-16, 2008, there is an additional incentive, which is no lot premiums. This can equate to an additional savings from $5,000 to $60,000.

Construction is underway on the 44 townhomes at the new phase of Riverwalk at Wildwood and 7 townhomes have already gone under contract. So don’t miss out on the excellent incentives currently being offered.

Feel free to contact us if you have any additional questions on Riverwalk at Wildwood or any other Smyrna Vinings townhomes.

Also, don’t forget that Riverwalk at Wildwood is also eligible for the SmyrnaVinings.com Ultimate Welcoming Gift, which is an additional Buyer Bonus of $3,500 over and above any builder incentives. Contact us now for more details.Technorati Tags: Ashton Woods, Riverwalk at Wildwood, Smyrna Townhomes, Vinings Townhomes, Wildwood Townhomes

Don’t miss this great opportunity. This John Willis resale in the Vinings Ridge townhome community is drop dead gorgeous. You can’t go wrong with this 3BR/3.5BA three story townhome offered at $385,900.

From the minute you drive into this gated Smyrna townhome community, you’ll see the quality built into these John Willis townhomes. Stroll around the tree-lined streets and meet the neighbors. But the pièce de résistance is when you step in the door.

The homes features are rich and elegant and you’ll love living here. Features include:

• Hardwood floors
• Cast-iron balusters
• Stained cabinetry
• Granite countertops
• Stainless steel appliances
• Custom inlaid tile in all bathrooms
• Judges paneling
• Two fireplaces
• Upgraded lighting

To learn more about this Smyrna townhome, check out the property flyer or contact us directly. You can also view the virtual tour, but be warned, you’ll fall in love with it. Click here to schedule a showing.

This Smyrna townhome is exclusively marketed by:

Aaron Hofmann & Greg Godding

Keller Williams Realty Cityside

770-874-6383

Technorati Tags: 4433 Wilkerson Manor, Vinings Ridge, John Willis Homes, Smyrna Townhomes, Smyrna Real Estate

Gorgeous 3BR/2.5BA townhome for lease at $1,300/month in the heart of Smyrna Vinings.

This townhome is conveniently located in The Palms and is close to parks, the Smyrna Market Village and I-285. The townhome has extensive upgrades throughout including hardwood floors, granite countertops in kitchen, dining room and bathrooms, stained cabinetry, custom butler’s pantry in dining room and stainless steel appliances.

To learn more about this Smyrna townhome, contact us directly.

This Smyrna townhome is exclusively marketed by:

Aaron Hofmann

Keller Williams Realty Cityside

770-874-6383

Technorati Tags: 110 Rondak Circle, The Palms, Smyrna Townhomes, Smyrna Real Estate, Smyrna Townhome for Lease