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Property Tax Increase Public Hearings

The City of Douglasville has tentatively adopted a millage rate which will increase property taxes by 52.13 percent. All concerned citizens are invited to the public hearing on this tax increase to be held at the Council Chambers in the Douglasville Conference Center 6700 Church St, Douglasville, Ga. 30134 on July 31st ,2014 at 10:00 am and 6:45 pm . Times and places of additional public hearings on this tax increase are at the Douglasville Council Chambers at the Conference Center ,6700 Church St. Douglasville, Ga. on August 7th 2014 at 6:00 pm. This tentative increase will result in a millage rate of 5.784 an increase of 1.982. Without this tentative tax increase, the millage rate will be no more than 3.802 mills. The proposed tax increase for a home with a Fair market value of $ 125,000 is approximately $ 99.10 and the proposed tax increase for non-homestead property with a fair market value of $150,000 is approximately $118.92.

West Ga. economic report released

West Ga. economic report released

CARROLLTON, Ga. -- The University of West Georgia's Center for Business and Economic Research has released its latest report for the west Georgia region.

The region includes six counties: Carroll, Coweta, Douglas, Haralson, Paulding and Polk.

Of those counties, only one -- Carroll -- saw an increase in unemployment since summer 2012.

"Although the unemployment rates for some counties have increased over the last few months, the increase has come as a result of more people entering the labor force, not fewer people being employed," Dr. William Smith, director of the center, said in a statement.

HARP 2.0 Refinance Program can help Georgia residents save thousands

HARP 2.0 Refinance Program can help Georgia residents save thousands

ATLANTA – Just over a year ago the government rolled out a new refinance program for Georgia residents.  This program has been an overwhelming success.  The primary function of this program is to help Georgia homeowners that are currently underwater with their mortgages qualify for a new loan with an extremely low interest rate.  The guidelines from HARP 2.0 have continued to loosen as the program matures.  

​Eligibility for a HARP 2.0!​

Metro Atlanta neighborhoods hit hard by foreclosure

Metro Atlanta neighborhoods hit hard by foreclosure

LAWRENCEVILLE, Ga. -- Georgia is among the top three states for zip codes with the highest foreclosure rates, according to a new article published by CNNMoney.

The Peach State joins Florida and Illinois at the top of the list, displacing Arizona, California and Nevada.

RESOURCE GUIDE | Preventing foreclosure

And a Gwinnett County suburb has the zip code with the highest foreclosure rate in the U.S.

According to the CNNMoney article:

Agents Unknowingly in Violation of Ethics

This is a warning to Agents and a reminder to the public to be careful who you chose to represent you in a real estate transaction. I have recently heard some stories that have taken place locally and want to send this reminder to everyone. It is a violation of the ethical requirement for licensure in Georgia to represent a buyer or seller in a matter that the Agent is unfamilliar with. 

The REALTOR® Code of Ethics - Article 1 starts: "When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client."

Metro Atlanta foreclosure rate 16th highest in nation

Metro Atlanta foreclosure rate 16th highest in nation

ATLANTA -- Metro Atlanta's foreclosure rate slowed by the middle of 2011, but remains among the metros with the highest rates.

Atlanta had 44,1560 foreclosure filings from January through June, down about 16 percent from the first half of 2010. This gave Atlanta the 16th highest rate of foreclosures, according to RealtyTrac, which publishes the largest list of foreclosures in the country.

The company defines a foreclosure as default notices, scheduled auctions and bank repossessions. 

Real Estate has a Long Road to Recovery

 

The next years of real estate are not going to be positive for homeowners. In fact, it’s estimated that in 2012 over 60% of all home sales will be foreclosures or short sales. This means that the banks will control the pricing of more than half the real estate market and we can expect continued declining values. This idea may not sit well with many after the mortgage meltdown and moral hazard issues we had over the past five years.

Further, we at Sellect Realty believe that it will be another five to seven years before we see home values near their previous peaks and then we expect a plateau for several years to follow before growth. Currently our market is still declining. Despite month-over-month gains we have had another drastic decline in home values over the past 12 months. According to the recent statistics released by Realtor.com the average listing price decreased by 11.42% from June 2010 to $250,933.