Suwanee’s 2009 fiscal year budget went into effect July 1, 2008 with the approval from the City Council in June. The 2009 fiscal budget of $12,863,830 is an increase of 10.43 percent over the previous year's amended budget. The millage rate will remain at 5.77 – which has remained the same or has been reduced over the past six years.

Within Suwanee's 2009 fiscal budget is a public safety budget which will consist of hiring two additional police officers, the purchase of three police cars and one motorcycle. The city's budget also includes the implementation of a take-home car test program for police officers. The cost of this program is projected to cost $90,820 for the year. Many of the surrounding jurisdictions currently have take-home car programs for their police officers.  This initiative will help the city of Suwanee remain competitive in attracting and retaining quality police officers.

Other Expenditures Include:

• Technology enhancements which includes digital records storage ($95,000)
• Update the city's website ($75,000) (www.Suwanee.com)
• Update to the 2001 Old Town Master Plan ($75,000 - Old Town & Suwanee Gateway areas)
• Directional signage ($88,800)
• Improvements to the current water system ($150,000) - most of which services the Old Town area.
• Staffing  & equipment for Sims Park
• Completion of Suwanee's first individual MS4 stormwater permit
• Staff salary increases ($75,560)
• Annual bond payments ($1.62 million) for the 2002 Open Space Intitiative and new City Hall

Projected revenue for the city is expected to top $1 million this year keeping the city fiscally healthy! The budget should maintain the current service levels providing the citizens of Suwanee the quality of life they have come to enjoy and expect.

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Source:  CrossRoads (Suwanee's Official Newsletter, August, 2008)

Now is the time to buy for First-Time Buyers. Opportunity only knocks once; and, if you have been waiting, now is the time to act because time will run out!

For first time home buyers who thought owning a home was only a dream, the recently enacted legislation, H.R. 3221, also known as the Housing and Economic Recovery Act of 2008, will provide a tax credit of 10% of the home cost, but not to exceed $7,500 which could now make your dream a reality. H.R. 3221 also includes reform of Fannie Mae and Freddie Mac, FHA modernization,  with permanent increases in conforming and FHA loan limits

If you are a buyer who has been sitting on the sidelines trying to decide if the time is right...The answer is a resounding "YES!!!!!" You will definitely want to take advantage of this opportunity! And, keep in mind, time is of the essence: You must make your purchase on or after April 9, 2008 and no later than July 1, 2009 to be eligible. 

The table below provides a recap of  H.R. 3221 - Housing and Economic Recovery Act of 2008:

    FIRST TIME HOME BUYER'S TAX CREDIT
(Housing and Economic Recovery Act of 2008)
                        H. R. 3221 (Recap)
          

Information is believed accurate, but not guaranteed. Please verify with your lender.

 **H. R. 3221 - Frequently Asked Questions...Answered
**U. S. Senate Roll Call Votes 110th Congress, 2nd Session - VOTE SUMMARY (By Senator Name)
**U.S. Senate Roll Call Votes 110th Congress, 2nd Session - VOTE SUMMARY (By State) 

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Suwanee City Parks....Why so many people call Suwanee home!

Our quality of life is often defined, in part, by where we live. For each of us the definition of "quality" will take on many different meanings. For those of us who have found Suwanee, GA to be our home, "quality' is woven into the fiber of our city....starting with the Suwanee city parks. Through an open space initiative, the city of Suwanee has been preserving green spaces and creating several new city parks.

Town Center Park - Each of the Suwanee city parks has its own personality and purpose. Town Center Park is located at the intersection of Buford Hwy and Lawrenceville-Suwanee Road. The focal point of the city, this park anchors a mixed-use development and is recognized by the locals as Suwanee Town Center. The 10 acre park is center stage for most of the community's primary events. Enjoy the one mile of interlinking pathways and sidewalks, an array of trees and the 1000 capacity amphitheatre where free concerts take place throughout the summer.  Year round you will witness the activity of bicyclists and joggers along with young and old alike out for a leisurely stroll; and, kids of all ages flying kites. During the summer months, the fountain is open from 10:30 am to 9:30 pm seven days a week to keep you cool during the long, humid Atlanta summers. The fountain has 43 jets and uses up to 1,400 gallons of recycled water per minute. 

The Suwanee Creek Greenway  -  Suwanee Creek Greenway was originally designed as four beautiful miles meandering through the natural habitat along the Suwanee Creek. The trail was started in the early 1990's with a three mile extension added in the spring of 2004. The park consists of approximately 400 acres of park land encompassing residential and commercial areas as well. The trail includes hard-surface trails, boardwalks and natural trails that winds through woods and wetlands. Along the pathway you will enjoy the friendly wildlife habitat - a perfect setting to enjoy your daily jog, a relaxing walk, a heart-pumping bike ride or energizing roller blade work-out. The trail begins at 1170 Buford Highway but has several other starting points along its path:

1. Suwanee Sports Academy at 360 Burnette Road
2. Martin Farm Road, approximately one-half mile west of Satellite Blvd.
3. Town Center via Portland Drive at the wooden boardwalk
4. Suwanee Elementary - Weekends and after 4 pm during the week
5. George Pierce Park - Soccer fields and back softball fields

Suwanee Creek Park - An 85 acre park and the trailhead to Suwanee Creek Greenway. The main entrance is located at 1170 Buford Highway and is open from sunrise to sunset. The attraction to the park is the natural setting which has been primarily left intact. Since the Suwanee Creek Greenway winds through the park you will find constant activity taking place throughout. The park is equipped with two pavilions, picnic tables, grills, public restrooms and open meadow areas making it the perfect setting for picnics, reunions and lazy-day weekend relaxation.

Playtown Suwanee - Of all the Suwanee city parks, Playtown Suwanee takes on the greatest meaning. It is a child's paradise.  Entering the park, you will be greeted by an artistically painted cow - leaving no doubt fun lies ahead. More than 1,200 volunteers worked approximately 10,000 hours over a five day period last summer so the children could have a park designed with them in mind.  The park includes features such as a magical bus, castle, log cabin, boat, elephant, a rocket, climbing wall, bridges, slides and swing sets. You will find the park at 425 Main Street in historic Old Town and open sunrise to sunset.

Sims Lake Park - Of all the Suwanee city park's, Sims Lake Park is the newest park; and, is currently under construction with expected completion late 2008. It is a  sprawling 62 acre park where you will enjoy walking trails, open play fields, a small pavilion and picnic areas. The main entrance to the park will be at Tench Road and Suwanee Dam. The park is regarded as "the jewel of the city's award-wining open space initiatives"

Main Street Park and Burnette-Rogers Pavilion - Located in the heart of historic Suwanee. It provides a basketball court, in-line skating elements, the City of Suwanee Red Caboose (decorated and in lights at Christmas); and, the Burnette-Rogers open air pavilion. An intimate, yet inviting place for picnics and small gatherings.

City Hall Park - Located at City Hall on Buford Highway across from Suwanee Town Center. The park hosts play equipment and a picnic area under a covered gazebo.

Short sales are becoming an option for homeowners throughout the country who may be facing foreclosure. Atlanta short sales, for all intent and purposes, have become more common place in our real estate market; whereas a year ago most of us hadn't even heard the term "short sale". Currently our listing services do not track the number of homes listed and/or sold as short sales in the Atlanta market. But what I do know..we are beginning to see more and more of them.  So if you face the potential of a short sale, there are some things you will want to know. 

First, what is a short sale? 

A short sale is when, due to the homeowner's financial hardships, the mortgage lender and/or bank have agreed to accept a reduced amount against the mortgage balance. Or, in some instances, the homeowner finds they must sell their home and as a result of the current down turn in the real estate market the home is worth less than when they bought. However, in most instances a short sale is an attempt to prevent the home from going into foreclosure.

Why a short sale vs. foreclosure?  In some instances, a short sale may not have the same impact on your credit vs. a foreclosure other than showing the short sale as "foreclosure proceeding started."  Similar to a foreclosure, a short sale will remain on your credit report for seven (7) years. What you want to keep an eye on is whether or not your mortgage lender reports the zero balance and settlement option on your credit report. 

If you find yourself facing a possible short sale, begin with preparing a net sales sheet. This net sheet should reflect the expected sales price, all fees associated with the sale, payoff balances of all loans including late fees, prorated taxes as well as prorated home owners association fees (if any) and commissions.  If you are using a real estate agent, he/she will be able to prepare this document for you. You will want to keep this readily available because it is likely your lender will want to see it to review.

Secondly, understand your tax liability...if any. The IRS does require the filing of a FM-1099 for the amount forgiven. The forgiven amount on your loan will be considered income and may be taxed. However, there are IRS guidelines which could make you exempt from taxation. Under the Mortgage Cancellation Tax Relief Act IF the property is your primary residence the tax would be eliminated. But be sure to talk to a tax accountant before you proceed to get the most current tax guidelines.

Deciding when is the best time to talk to your lender has varying opinions. Some experts do suggest you engage in converstaion with your mortgage company from the beginning. Others recommend waiting until you have a contract on your property. What is viable to your success is finding the decision maker within the loss mitigation department. And once you find this person, get a name! Be sure to provide them with a Letter of Authorization granting them permission to talk to whomever you plan to have assist you in the short sale. Make sure the letter includes your property address, loan number, name, date as well as the name, address and contact information of the person assisting you.

1. Proof of Income and Assets:  W-2's or proof of unemployment, bank statements, tax returns. Other documentation may also be required.
2. Hardship Letter:  You will want the letter to fully outline all the reasons surrounding your financial challenges and why you are no longer able to meet your morgage payment obligations.
3. Preliminary Net Sheet
4. Comparative Market Analysis:  This can be provided to you by your real estate agent. The Comparative Market Analysis should show the activity within your area for the past six months and include ACTIVES, PENDING SALES and SOLDS.
5. Purchase and Sale Agreement & Listing Agreement:  Keep in mind, even after you have come to an agreement with a Purchaser on your house, the final decision will lay with with the lender. In most instances, the lender will renegotiate some items in the agreement.

Finally, before you do anything...do your home work! Make sure you understand all the ramifications as well as possible alternatives. Be sure to employ the assistance of people you trust and who can help you through the process.

WALL STREET JOURNAL:  Two Alternatives to Foreclosure
REALTOR.ORG:  Loan Forgiveness After the Shortsale: Taxing What Isn't There

 
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Sources:  Wikipedia; About.com (How to Do Short Sales by Elizabeth Weintraub); Realtor.org (Sold Up Short How to Succed at Short Sales by Maryiwyn Evans)

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A month-to-month look at SOLDS for single family detached homes for the first six months of 2008.

ATLANTA GA - SINGLE FAMILY DETACHED CLOSINGS 2008
TOTAL UNITS:  21,677 

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THE BELL TOLLS FOR THEE!
 And, ready or not it is that time of year once again!

Across Georgia, buses will be rolliing and school doors will be opening wide to welcome back students. For Gwinnett County, the first day of school is August 11. Listed below is the 2008-2009 Gwinnett County Public Schools Calendar:

• Snow Make-Up Days:  If school is cancelled due to inclement weather, the days
  will be made up as follows:  

1. First day missed - Make up day will be March 13
2. Second day missed - Make up day will be May 21

• Snow make up days not used will be student holidays

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SUWANEE TOWN CENTER - THE HEART OF OUR CITY

Ask the citizens who live here and you will get as many different answers as the number of people you ask. But one thing we will all agree on... the creation of Suwanee Town Center has brought a new pride and excitement to the city and is the focal point of our community.  Without question, the strategic planning  to rejuvenate our city has claimed national attention!   Suwanee IS a a live, work and play community.

Suwanee Town Center is the corner stone of our city. Situated on 10 wonderful acres at the corner of Buford Hwy. & Lawrenceville-Suwanee Road, the mixed used development  includes upscale residential loft homes atop the retail spaces, park with fountain and amphi-theatre, retail  stores, restaurants and  professional services. And, anyone who drives past the Suwanee Town Center realizes it is definitely a hub of activity seven days a week.

When you visit Suwanee Town Center enjoy:

• Free concerts on the lawn throughout the summer
• Local farmers market on Saturday's' during the summer months 
• Flying kites in the park
• Playing in the fountain on a hot summer Atlanta day
• Walking your dog or playing fetch with a frisbee
• Enjoying a fresh cup of coffee while reading the morning paper
• Biting into a tasty hamburger or yummy sandwich for lunch
• Enjoying a nice dinner with friends at one of the many restaurants
• Selecting the perfect piece of collectible art at the local gallery
• Browsing fine home interiors
• Pampering yourself at the muliple salons
• Annual  fall Suwanee Day Festival
• Or....how about just an old fashioned ice cream cone?????

The possibilities are endless .....
     

SUWANEE, GA - Where families come first!

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A SNAP SHOT LOOK AT THE SUWANEE MARKET
First Quarter 2008 vs. First Quarter 2007

FIRST QUARTER 2008

• Average Original Price:  $345,533
• Average Sales Price:  $319,243
• Average List to Sale Percentage:  92%
• Average DOM:  116

 FIRST QUARTER 2007

SOLDS:   TOTAL UNITS:  181 HIGH PRICE:  $1,858,400 LOW PRICE:    $   119,000 BREAKDOWN: Corporate Owned:  7 Estate Owned:  1 Foreclosure:  6 Lease/Purchase:  2 Owner Transfer:  10 Other:  155 RECAP: Average Original Price:  $345,068 Average Sales Price:  $335,094 List to Sale Price Percent:  97% Average DOM:  80

ANALYSIS:  

1. Sold Units:  '08 vs. '07   <44>
2. Average List Price:  '08 vs. '07  - No Change
3. Average Sold Price:  '08 vs. '07  <5>
4. List to Sale Price:  '08 vs. '07

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Information is for Suwanee/Gwinnett. Data from First Multiple Listing Service.
Information is believed accurate but is not guaranteed.

LET ME ASK:

• Are you wondering if, as a seller, there is anything you can do to increase your chances for a successful sale in today's market place?              

 KEYS  to IMPROVE YOUR CHANCE 

              FOR A SUCCESSFUL SALE 

1. Pricing - Start with a realistic price based on today's market - Aggressive pricing from the beginning is one of the most important factors to the success of selling your home. Aggressive pricing requires that you cannot price "at" marrket but instead position your price so you are ahead of the curve. Keep in mind what you may have to give up on the selling side, you should make up on the buying side
2. Staging - This is more important than ever before. FIRST IMPRESSIONS are important. You want to optimize the physical appearance of your home. Engaging a professional stager is well worth the time and the money.
3. Pristine -  Start with the carpeting and floors, walls and windows. A well-kept home gives the impression that everything has been kept up equally. Hire a professional cleaning service to give the house a detailed cleaning.
4. Curb appeal - The first impression of your home is when the prospective buyer drives up. Prune trees and shrubs away from the house. Keep the lawn mowed and edged. Plant flowers for color if the season permits. Make sure driveways, walk ways and porches have been recently pressure washed.  
5. Fix Everything - Walk around the inside of your house and the outside of your home as if you were buying it for the first time. Anything which catches your attention...fix it! 
6. Painting - A fresh coat of paint is worth its weight in gold! It gives a dramatic improvement to the home. When painting the inside....keep it NEUTRAL!  And, don't forget the trim and ceilings. If the trim and ceilings have not been painted in several years be sure to include them.
7. Unclutter Your Surroundings -  Inside and out. Start with the garage, any outbuidings, the basement, cupboards and closets. If you don't use it, get rid of it. If you use it ocassionally, consider renting a storage unit. Clear the clutter from the counter-tops.  Less is more!

Do you know a professional stager you would recommend? How about a cleaning service, contractor/handy man? Or how about a really good landscaper? Please share.

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• Number of homes sold second quarter for 2008 vs. the first quarter:  ^4 units
• Average SOLD price second quarter for 2008 vs. first quarter:  ^37%
• Average DOM:  <12 days>
• Average list to sale price percentage:  No Change

• There is currently 25 homes on the market in Rivermoore Park. 
• The average list price is approximately $592,000.
• Predominant price range is between $500,000-$600,000
• Highest List:  $1,099,900
• Lowest List:  $369,900

What has increased is seller concessions:

• Highest seller concessions in the second quarter:  $10,000
• Lowest seller concessions in the second quarter:  $38
• Average seller concessions in the second quarter:  $3918 vs. $135 first quarter

As indicated in the table above, the increase of average sold price this quarter over first quarter is, in my observation, a result of the price point of homes marketed and sold. This report is not intended and does not give indication of the appreciation of home values in Rivermoore Park for the time period reviewed.

List to sale price percentage first quarter 2007 was 96%; and, this percentage is remaining steady. Days on market is also doing well:  The actual days has actually declined - which is not the case for most of the market. Overall, Rivermoore Park seems to be holding up well in the market.

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Information is believed accurate, but is not guaranteed. Data is courtesy of the First Multiple Listing Service.