Award Winning School

It doesn't get much better than this. Athens High School was recently named a Silver Medal School, which means it is one of the best high schools in America. The award was made by U.S. News & World Reports magazine. There is one gold medal school in Alabama and eight silver medal schools. Naturally, city officials, educators, and the local citizens in general, are very pleased. An article in the Athens News Courier, Dec. 12, 2009, noted that "of the 880 students enrolled, 28.5 percent took advanced placement classes last year." This is just one more indicator of the quality in the Athens city schools system.

Two Ways to Save

Consider -- you can get a tax rebate of $8,000 from Uncle Sam by purchasing a home if you are a first time home buyer, OR if you already have a home with a mortgage consider refinancing. With interest rates as low as they have been in a long time, individuals with a home mortgage that still has several years to mature may benefit by refinancing. If you are in this situation, and you intend to continue living in the home you own now either indefinitely or for a few more years, it may pay to refinance. Of course there are administrative costs to be paid if you refinance. By calculating what these will be and dividing that by your current monthly payment you will get a "payback" number which means that it is the number of months required to break even. And, if that doesn't make sense to you then consider the purchase of a home that appeals to you and benefit from the tax credit. Last month 72% of the mortgages applied for across the country were for refinancing. Good luck!

Happy Thanksgiving!

I have much to be thankful for, and I hope each of you can say the same. Today,
November 26th, has been restful and "filling" as my wife and I enjoyed the holiday with friends, and we ate our share of Turkey. I read recently that Turkey can make a person feel sleepy. It sure worked on me. There is a hormone in Turkey, according to the article, as I recall, named Triptophyn (or something like that). It is supposed to make one drowsy. Of course that Turkey had some help. Let's see -- there was also dressing, and some ham, sweet potato souffle, fried apples, jellied cranberry, and to top it off, pumkin pie. Just thought I would wake up from this nap long enough to share. Best wishes to you as we start the holiday shopping season and celebrate Christmas and the New Year.

CALL ME!

Is the Rabbit Out of the Hat?

Now isn't that an interesting question? And, "for heavens sake" what does it mean?

More indicators and opinions of so called "guru's" are pointing toward a better future for home sales. Warren Buffet has called a bottom to the stock market. Yeah, but this is about home sales. OK, but it has been shown historically that a bullish stock market also affects increasing home prices. Anyhow, good news, Warren! Also, the economy expanded 2.8 percent during the third quarter. An expanding economy should be beneficial to stabilized and improving home sales, which by the way "existing homes" on a nationwide basis were just reported to have been "up" in October. Could the nationwide home sales market finally be stabilizing?

Ken Rosen, a real estate economist with the Fisher Center for Real Estate, in San Francisco, was interviewed on Nov. 22nd by MarketWatch, and he says, "yes," the real estate market nationwide has stabilized. He attributes this to the Tax Credit for first time home buyers, which has been extended to April 30th of 2010. He believes that after April 30, 2010 job creation in the nation as a whole will help create demand and support home prices, which he believes have stabilized. Rosen is encouraging individuals who want a house as a home to consider buying now. He believes the country is now on a sustainable growth path.

NEW LOCATION

Hey there! I've been "missing in action" for a few weeks, at least with regard to keeping my blog updated. So, to any of my followers, I apologize.

I am now with RE/MAX Legacy. My new street address is 22980 Highway 72 E, Athens, Alabama 35613. For my friends who know my old location, this new one is "just down the road" toward Huntsville before you get to Piney Creek on the east bound lane of Highway 72, next to Hertrz Rental Car and Custom Flooring & Design.

Stop by to see me, and our new office. It has been under renovation for several weeks, which is another reason for my seeming absence from the fray. The new office is very nice, and I am proud of it. As always, I am ready to do business. The present office phone number is (256) 230-1113. Our old number should also work -- (256) 232-4490.

Over a Barrel

Don't feel that way -- "over a barrel," that is. Markets are always changing. One really big change this year is the return to the real estate market of the first time home buyer. This is a term that requires definition as the Government defines a FIRST TIME HOME BUYER as someone who has not owned a personal residence in the prior three years.

This year, according to the National Association of Realtors, 44 percent of home sales have been to first time buyers. That is the biggest such number since 1991. Of course, the Government's $8,000 tax credit has helped. And, there is now talk of the tax credit dead line (currently Nov. 30th) being extended, which would be a good thing, but don't hold your breath. First time buyers are about to run out of time to use the tax credit unless the time line is changed. Maybe it will happen. Let's hope so!

If I can help, call me.