The State of Georgia has passed two new laws to hopefully reduce car accidents caused by distracted drivers.

1. Senate Bill 360 (No texting while driving):

“No person shall operate a motor vehicle on any public road or highway of this state while using a wireless telecommunications device to write, send, or read any text based communication, including but not limited to a text message, instant message, electronic mail, or Internet data.”

The fine for offenders will be $150 and one point on the driver’s license. 

2. House Bill 23 (No cell phone use by minors):
This new law “prohibits use of wireless telecommunications devices by persons under 18 years of age with an instruction permit or Class D license while operating a motor vehicle”.

The fines are also $150 and one point on the driver’s license.   

“Driving” includes sitting at a red light or stop sign.

Presented by Leigh Clack, Attorney

Neel & Robinson Attorneys at Law, LLC

22 Lenox Pointe, Atlanta, GA 30324

lenox@neelandrobinson.com       404-706-3690       fax  404-705-3697

On June 27, 2010 at 2:00 PM, you are invited to an Open House at: 

1116 Moorestown Circle in Decatur, GA 30033 from 2:00-4:00 PM. If you are looking for a Resale - condo-townhouse property in this area, don’t miss this rare opportunity to visit this magnificent property. For a preview of this Resale - condo-townhouse property, check out my site at www.mcalisterrealtygroup.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

Mold is a relatively common household occurrence that can potentially cause health problems as well as damage to structures and surfaces. Although most molds are harmless, some can cause serious respiratory problems, especially in sensitive individuals, so it’s important to be aware of potential mold growth in your home. As with most things, a little knowledge goes a long way - read below for information that will help you identify a mold problem.

Mold Basics:
Mold enters your home as tiny spores, which need moisture to begin growing, digesting and destroying. Mold can grow on almost any surface, including wood, ceiling tiles, wallpaper, paints, carpet, sheet rock, and insulation, given the right conditions.

Identifying the Problem:
Mold most often appears as small black or white specks in places like your damp bathroom or basement walls. To the unaided eye, mold has a variety of appearances: fuzzy, velvety, leathery, powdery, and glassy. Mold colonies may appear to be black stains or patches of white, yellow, green, brown, black, gray, or even pink. Some mold may be hidden behind wall coverings or ceiling tiles, but is often visible to the naked eye.

Where to Look:
Mold grows best when there is an abundance of moisture, so it is often found in areas with water damage or excessive humidity. Mold can also be found growing along walls where warm moist air condenses on cooler wall surfaces, such as behind dressers, headboards, and in closets where articles are stored against walls. Mold often grows in rooms with both high water usage and humidity, such as kitchens, bathrooms, laundry rooms, and basements.

Trust your nose:
The compounds produced by molds have strong smells, which are volatile and quickly released into the air. Because these compounds often have strong or unpleasant odors, they can cause a “moldy” or musty smell frequently associated with mold growth. A musty odor suggests that mold is growing in the building and should be investigated.

Fast and Furious:
If you suspect a mold problem, you should address the issue as quickly as possible, as mold can spread quickly. You can successfully clean up a small amount of mold yourself using a simple solution warm water and soap, but larger infestations should be removed by a professional mitigation expert.

Please give us a call at 404-895-3036 if you suspect mold issues and we would be happy to provide you with a list of our preferred service specialists. The McAlister Realty Group is here to assist you!

Purchasers who are trying to meet the June 30, 2010, closing deadline to qualify for the first-time homebuyer credit or move-up homebuyer credit should probably look at properties that do not need flood insurance.

The National Flood Insurance Program (NFIP), which is the federal program that funds almost all flood insurance claims, has actually expired twice already in 2010.  Although the program has now been extended to May 31, 2010, (retroactive to the last expiration) there have been weeks in 2010 when flood insurance was not available, and many closings had to be postponed.  The most recent extension was approved on April 15, 2010, in the same bill that extended some jobless benefits.

Although flood insurance is bought through local insurance companies, the NFIP is the ultimate provider of the policy (similar to FHA underwriting of loans made by banks and mortgage companies). Devastating floods and claims have depleted the cash available in the NFIP.

Flood insurance through the NFIP is not the same as federal flood assistance, which can be a government grant or a loan based on a specific flood crisis. Any community that participates in the NFIP is eligible to purchase flood insurance.

Flood Insurance Limits for a residence:

$250,000 for the dwelling             $100,000 for contents

For further information or questions, contact the McAlister Realty Group at (404) 895-3036. For a comprehensive database on homes for sale in the Metro Atlanta market, visit http://www.McAlisterRealtyGroup.com .
 

Presented by Leigh Clack, Attorney
Neel & Robinson Attorneys at Law, LLC

April 1st marks the beginning of the 2nd quarter of the year, and there are some deadlines and issues to consider in selling, buying, or managing real estate.
 

1.      Income tax:  Filing deadline is April 15, 2010 (for 2009 income).Tax returns are required for almost all mortgage applications and short sale applications, especially if the closing will take place after April 15th.

2.      First Time Homebuyer Credit (up to $8,000) and Move-Up Homebuyer Credit (up to $6,500). Contract must be signed by April 30, 2010. Closing must take place by June 30, 2010 

3.      FHA upfront MIP increases from 1.75% to 2.25% for any FHA case numbers issued starting on April 5, 2010. Make sure that your buyer’s case number has been issued for an FHA loan application, or make sure that the buyer gets a revised Good Faith Estimate.

4.      Home Affordable Foreclosure Alternatives program goes into effect on April 5, 2010. This program gives incentives to lenders to expedite and streamline the short sale process.

Presented by Leigh Clack, Attorney

Neel & Robinson Attorneys at Law, LLC

Check out this new property that I just posted on my Web site. It is at 2388 Lawrenceville Hwy, Unit F in Decatur. This property has 3 bedrooms and 2 baths. Huge 3 Bedroom Unit on Top Floor. Great Condition and Very Spacious. Move In Ready. Close to Decatur and 285. Owner Pays Association Fee. Application Fee of $50. Call Stacy at 404-895-0289 For Further Information or to Schedule a Showing.

FHA has recently announced significant changes to FHA loans:

1. The initial upfront MIP will increase from 1.75% to 2.25%, effective for any FHA case numbers issued starting on April 5, 2010.

2. The holding period of 90 days for a seller (to an FHA purchaser) has been waived for contracts executed on or after February 1, 2010. This applies to foreclosures and investors (still reviewed on a case-by-case basis).

The following changes will go into effect in the summer of 2010, because they must go through an official approval process, including publication in the Federal Register:

1. Borrowers will need a minimum credit score of 580 to qualify for the maximum loan percentage with only 3.5% down.

2. Borrowers with less than a 580 credit score will be limited to a maximum of 90% financing (10% down).

3. Seller concessions will be limited to 3%.

Presented by Leigh Clack, Attorney

When looking back on the year he opened the first Keller Williams Realty office in Atlanta, franchise owner Shaun Rawls thought about the efforts he made to inform people about the Austin, Texas-based company.

“It was fun and it was hard,” the DeKalb County resident said. “We’ve kind of gone from ‘Keller who?’ to ‘Keller woo-hoo.’ Ten years ago I totally believed in this company and what it stands for. Being new to it, I hoped I was telling them the truth. Ten years later, I know I’m telling them the truth.”

After Rawls, his wife Jean and other agents spent two months working in his basement, they moved into a temporary office in Sandy Springs for another month or two. On Dec. 17, 1999, Rawls and 27 other agents moved into Keller Williams’ first permanent Atlanta office on Glenridge Point Parkway in Sandy Springs.

Last week the company celebrated its 10th anniversary in Alanta. Today Keller Williams has more than 1,000 Realtors in seven metro offices: Brookhaven, Buckhead (at Tower Place), Dunwoody, East Cobb, Peachtree Battle (in Buckhead), Sandy Springs and Smyrna/Vinings.

In 2009 Keller Williams ranked second in metro Atlanta gross residential sales volume behind Re/Max International Inc.

“It’s kind of amazing to look at a company that in 10 years (has grown so much),” he said. “I truly believe that in 2010 Keller Williams will become the No. 1 market share in metro Atlanta.”

Rawls said he chose Keller Williams because, “I thought it was a superior model for business and I thought it offered an unprecedented opportunity for agents.”

Neighbor Newspapers
By Everett Catts

HAMP:  Home Affordable Modification Program (For Refinances)

-    for borrowers trying to modify their current loan and stay in their home

HAFA:  Home Affordable Foreclosure Alternatives Program (For Short Sales)

-    for borrowers who may qualify for HAMP but still need to sell their home

-    goes into effect on April 5, 2010 (some lenders may implement sooner)

Guidelines for each program vary based on the type of loan and investor (Fannie Mae, Freddie Mac, or other).

Basic eligibility requirements:

1) Principal residence
2) First lien (mortgage) originated before 2009
3) Mortgage delinquent or default is reasonably foreseeable
4) Unpaid principal balance no more than $729,750
5) Borrower’s current total monthly payment exceeds 31% of gross income

Important factors considered by lender:

1) Severity of the loss
2) Local market conditions
3) The timing of pending foreclosure actions
4) Borrower motivation and cooperation

Benefits:

1) Provides process for short sale pre-approval prior to listing or contract
2) Lender can not foreclose during HAFA process
3) May allow seller to receive some proceeds for moving (up to $1,500)
4) Allows small allocation to subordinate loan payoffs (up to $3,000)
5) Borrowers are fully released from future liability on the first mortgage (no note or deficiency judgment)
6) Protects realtor commissions up to 6% as shown in listing agreement

Call the McAlister Realty Group for additional information and let us represent you in the  selling process. We pride ourselves on excellent service!

In 2004, the Fair and Accurate Credit Transaction Act was passed enabling consumers to obtain a free credit report from each of the three national credit bureaus once a year.  While there are many Web sites that claim to provide a “free” credit report, there is only one place that offers a truly free credit report with no strings attached:  www.annualcreditreport.com.  Be aware that this free credit report does not come with credit scores.  If you or one of your customers would like to find out credit scores, just let me know and I will pull a report for you.  If you wish to learn more about credit reporting and scoring, here is an excellent Web site for you to check out:  www.credco.com/crediteducation.  Also, if you have questions about your report or wish to dispute an item, here is the contact information for each of the three credit bureaus:  

        Equifax Information Service Center
        PO Box 740241, Atlanta, GA 30374-0241
        (800) 685-1111 / www.equifax.com

        Experian Information Solutions, Inc.
        PO Box 2002 , Allen , TX   75013
        (888) 397-3742 / www.experian.com

        Trans Union Corporation
        PO Box 34012 , Fullerton , CA 92834
        (800) 916-8800 / www.transunion.com