Archive for July, 2008

Heritage Club —- 3360 Spindletop —- REDUCED

Thursday, July 31st, 2008

If you are looking for a move-in condition family home in Kennesaw —- this is the place for you. 3360 Spindletop is located in the beautiful Heritage Club neighborhood in Kennesaw, GA. With new Bamboo Hardwoods on the first level, large bedrooms, and an open kitchen and floorplan, this home was built to be a superp family home.

Our sellers are motivated — so if you like the area and want to get a good deal, contact Tom Anderson at 404-277-9581 or visit www.tagatlanta.com or click here.

Renovated East Atlanta Ranch — Minutes from East Atlanta Village —-2141 EDGEMORE DRIVE

Thursday, July 31st, 2008

Come quick — this beauty won’t be around long. For all of you in-town lovers, this 3 bedroom 2 bath ranch sits on large lot, has a huge deck and screen porch. With hardwoods, soap stone counters, and a bonus room off the kitchen, this home is ideal for families or roommates. 2141 Edgemore Drive is an ideal location, a short walk from East Atlanta Village, parks, and all of Atlanta’s greatest in-town attractions.

To learn more about this property, or to schedule a closing, please clicke here.

Using your 401K/Retirement Accounts to purchase real estate investment property

Thursday, July 17th, 2008

Did you know that you can use your existing retirement account or IRA to purchase real estate investment property? As land and property values decrease, and investors look for new ways to diversify their retirement portfolio, many people are starting to use real estate IRA’s or Self-Directed IRA’s to add a new dimension to their investment portfolio.

There are several investment opportunties available, such as:

  • Raw Land
  • Single Family Rentals
  • Multi-Family Rentals

For more information about real estate investments, please contact Tom Anderson at 404-277-9581 or www.tagatlanta.com.

IRC Section 408 Requirements:

 

Sufficient Funds:   All ongoing property expenses, including taxes, insurance, repairs etc., must be paid from the IRA.  If you do not have sufficient funds to do so each year, you may have to remove the property from the IRA and suffer the tax consequences of doing so.

 

No Self Dealing:

-         The real estate cannot be used by you as a residence or a vacation home.  It must be an investment property.

-         The property may not be real estate you presently own or owned at one time in the IRA.

-         Your spouse, parents or children cannot have owned the property before it was purchased by the IRA.

-         Your business cannot lease space in your IRA held property.

-         You cannot sell the property to a family member.

-         ** You may be able to withdraw the property from your IRA and use it personally when you reach retirement age.  However, there may be substantial tax consequences on the withdrawal.

 

Other Important Information:

 

-         The IRA custodian must actually hold title to the property.  The title would read “XYZ Corporation, Custodian FBO John Doe IRA.”  All contracts must also reflect the custodian as buyer.

-         The IRA account holder cannot serve as the custodian of the account.  In addition, the custodian cannot give financial advice; they can only provide custodial and administrative services for the plan.

 

Sale-Leasebacks for stuggling homeowners on the rise – Short Sales

Wednesday, July 16th, 2008

According to a recent Wall Street Journal article by Jilian Mincer, the often used commercial real estate “sale-leaseback” agreement is becoming more popular with homeowners struggling to pay the mortgage.

As the housing market continues to decline in many areas, decreasing home values are putting many sellers and property owners in a difficult situation when the amount of their mortgage, or mortgages in many cases, is greater than the fair market value of their home.

There are ways to avoid foreclosure if you should find yourself in this position. In some situations, the bank who holds your loan will agree to renegotiate the terms of the mortgage so you can make your monthly payments. In most cases, however, the best solution is to try and negotiate a short sale with bank where the bank literally agrees to take an amount that is short of what their owed in lieu of foreclosure.

As discussed in the recent WSJ.com article, the full article can be accessed here, it is possible to negotiate a sale-leaseback with an investor to avoid having to move out of your home.

If you or some one you know is having difficult selling their home, paying the mortgage, or negotiating a short sale, please call The Anderson Group. With over 25 years experience in the real estate industry, we will sit down with you and figure out the best solution to your real estate problems. Confidentiality is a guarantee.

For more information, please contact Tom Anderson at 404-277-9581 or tom@tagatlanta.com

Best Kirkwood buy—- 25 Rogers Street

Wednesday, July 16th, 2008

Kirkwood is one of Atlanta’s fastest growing neighborhoods. With the new Kirkwood Village featuring some exciting new restaurants and bars, Kirkwood is the ideal community for a young family or individual that wants to be in Atlanta’s growing in-town community.

25 Rogers Street is a beautiful 1925 craftsman bungalow that was completely renovated in the late 1990′s. This home has 3 bedrooms, 2 full baths, a living room and separate dinning room, and a large eat-in kitchen that opens to terrific backyard. Priced at only $270,000, this home is priced to sell fast. Call Tom today to check out the fantastic rocking chair front porch and beautiful period details of this amazing bungalow.

For more pictures please click here. For more information, please visit www.tagatlanta.com or call Tom Anderson at 404-277-9581.

3575 Berkeley Park Court —- Price Reduction $205,000

Wednesday, July 16th, 2008

With comparable sales well above $220,000, and some as high as $250,000, this 4 bedroom 2 full bathroom home has been reduced to sell fast. This ranch home sits on a fenced level lot, has a two car garage, two story great room open to the kitchen and a loft area ideal for an extra bedroom, office, or playroom.

This home is in the sought after Berkeley Lake community and is located on a cul-de-sac street, ideal for young families. To schedule a viewing or learn more about this property, please call Tom Anderson at 404-277-9581. To view more pictures, please click here or go to www.tagatlanta.com.

 

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