Highlighting A Mortgage Lender

Today the decision was reached to highlight a mortgage lender.  Supreme Lending under Shannon Fortner has always provided us with the best of service.  They have never ceased to amaze us with the amount of hard work, good attitude, and wonderful quality of their work.

Originally Shannon Fortner and his team were with Countrywide Home Loans before the company collapsed amid financial troubles and political corruption which included waived points, lender fees and company borrowing rules for members of the Democratic Party of the United States.  This led the team to W.R. Starkey in which they had a troubling relationship due to the W.R. Starkey's over bureaucratic methods.  The Shannon Fortner team didn't stay long before they moved over to their present place at Supreme Lending.  Although they have moved from company to company, the once constant is their fantastic services they have provided to their clients.  Their strong unit has proved time and time again, their eagerness to do as much as they can for the benefit of their clients and agents.

Thank you for everything Shannon, Beverly, and Debbie.  You've always been wonderful to work with and provided many great times.

Shannon Fortner - Supreme Lending
Contact Information

• Phone Numbers:
  Cell 256-755-0156
  Direct 256-715-9465
  Main 256-715-9465
  Fax 256-715-9501
• Branch Location:
  2101 Clinton Ave W, St. 202
  Huntsville, AL 35805

Today's Tidbit:  Don't be afraid to ask your mortgage lender questions, they're there to help you understand. If you don't ask the questions, they won't be able to read your mind to assist you.

Huntsville Metro Area Homes

The Moving Checklist - Things to Keep In Mind

Moving was a topic in an earlier post, and it came to the forefront today.  At the company meeting this morning one of our local mortgage representatives Teresa Schmitt of First Bank touched on the issue by creating a checklist.  The checklist had very valuable information and arranged them by a four period timeline.

We wish to thank Teresa Schmitt for the valuable information she has offered us, which is provided below.

One Month Before Moving

• Fill out change of address order form for the post office
• Fill out IRS change of address form
• Make arrangements with the moving company or reserve a rental truck
• Make travel arrangements if necessary, with airlines, buses, car rental agencies and hotels
• Transfer memberships in clubs, civic or religious organizations
• Obtain medical and dental records and ask for referrals and transfer prescriptions
• Set up a checking account in your new city
• If you are moving yourself, obtain boxes and packing supplies. Clearly mark necessities OPEN FIRST.
• Eliminate everything you don't want to move. Give it away or sell it.
• Take inventory of your belongings you plan to take with you before they are packed.  If possibly, take pictures or video tape your belongings.  Appraise valuable items such as antiques, art pieces, etc. in case of future claims.
• Make arrangements for transporting pets and plants, if necessary.
• Notify your children's school of the move.  Arrange to transfer school records.
• Start a file for all your moving paperwork.

One to Two Weeks Before Moving

• Switch utility services to your new address. Inform gas, electric, disposal, water, newspaper/magazine subscription, telephone and cable companies of your move.  Be sure to disconnect the day after you leave and connect the day before you arrive.
• Arrange for help on moving day.
• Confirm travel reservations.
• Notify any creditors of your move
• Dispose of items that cannot be moved such as inflammable liquids
• Clean rugs and clothing and have them wrapped for moving
• Plan ahead for special needs of infants and small children
• Close bank accounts and have your funds wired to your new bank.  Before closing, be sure there are no outstanding checks or automatic payments that haven't been processed.
• Collect valuables from safe deposit box. Make copies of any important documents before mailing or hand carry them to your new address.
• Check with your insurance agent to ensure you'll be covered through your homeowner's or renter's policy during the move.
• Defrost freezer and refrigerator by propping doors open.
• Give a close friend or relative your travel route and schedule so that you may be reached if needed

On Moving Day

• Double check closets, drawers, shelves, attic and garage to be sure they are empty
• Leave old keys needed by new tenant or owner
• Carry important documents, currency and jewelry yourself
• Carry travelers checks for quick available funds
• If using a mover, ready your bill of lading and inventory carefully before signing

Arriving at Your New Home

• If using a mover, check your belongings carefully and note on the inventory any damaged items.
• Renew your driver's license, auto registration and tags
• Shop around for new insurance policies, especially auto coverage.
• Revise your will and other legal papers to avoid longer probate and higher legal fees
• Explore your new area. Locate the hospitals, police stations, veterinarian and fire stations near your home.

Teresa Schmitt also stated that many of the moving expenses may be tax deductible so keep a hold of the receipts.

Today's Tidbit:  Moving isn't just a chore, its a life experience that sometimes you only do a few times in one lifetime.  Take the opportunity to enjoy it, they don't come around often.

Huntsville Metro Area Homes

Alabama Tax Information

This post was decided it would be about taxes.  It took a while to do the research to find the best info on Alabama taxes and the list by retirementliving.com seemed the best of all researched.  Now below is the information that they have categorized.  Most of this is very easy to understand.

ALABAMA

Sales Taxes

State Sales Tax: 4% (prescription drugs exempt); The rate can go as high as 12.0% depending on city and county taxes.  The state administers over 200 different city and county sales taxes; however, it does not administer all county or city sales taxes.  There is a 3% tax on food sold through vending machines; 2% on sales of motor vehicles, mobile homes and motorboats; and 4% on sales of tangible personal property.s
Gasoline Tax: 39.3 cents/gallon (Includes all taxes)
Diesel Fuel Tax: 46.3 cents/gallon (Includes all taxes)
Cigarette Tax: 42.5 cents/pack of 20

Personal Income Taxes

Tax Rate Range: Low – 2.0%; High – 5.0%
Income Brackets: *Lowest – $500; Highest – $3,000
Number of Brackets: 3
Personal Exemptions: Single – $1,500; Married – $3,000; Dependents – $500
Standard Deduction: Single – $2,000; Married filing joint return – up to $7,500 based on state AGI and filing status.
Medical/Dental Deduction: Limited to excess of 4% of adjusted gross income.  However, you may deduct 50 percent of the premiums you pay for health insurance if you work for an employer that has less than 25 employees.
Federal Income Tax Deduction: Full
Retirement Income Taxes: Social Security, military, civil service, state/local government and qualified private pensions are exempt.  All out-of-state government pensions are tax-exempt if they are defined benefit plans.
Retired Military Pay: Pay and survivor benefits not taxed.
Military Disability Retired Pay: Retirees who entered the military before Sept. 24, 1975, and members receiving disability retirements based on combat injuries or who could receive disability payments from the VA are covered by laws giving disability broad exemption from federal income tax. Most military retired pay based on service-related disabilities also is free from federal income tax, but there is no guarantee of total protection.
VA Disability Dependency and Indemnity Compensation: VA benefits are not taxable because they generally are for disabilities and are not subject to federal or state taxes.
Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office.

Property Taxes

The state does not collect taxes on personal property such as boats and computers.  Its ad valorem (property tax) is 6.5 mills (http://216.226.178.107/Taxincentives/proptaxincentives.html).  Each city and county may levy has its own millage rate.  For information on all ad valorem tax exemptions, click here.

Homeowners 65 and older are exempt from all state property taxes.  Some cities also assess separate property taxes.  A homestead exemption up to $5,000 of assessed value is granted by the state on real property taxes. A larger exemption is available to persons over 65. Visit state’s property tax division web site.  To view the state’s homestead summary chart, click here.

Taxpayers are allowed to take a deduction on their individual returns for amounts contributed to a catastrophic (hurricanes, floods and storms) savings account.  If the qualified deductible is $1,000 or less, the maximum contribution is $2,000.  If the qualified deductible is more than $1,000, the maximum contribution is the smaller of (a) $15,000 or (b) twice the qualified deductible.

Inheritance and Estate Taxes

Alabama does not impose a separate state estate or inheritance tax.  It has what is known as a “pickup” or “sponge” tax, which means the state collects the maximum credit allowed on the federal estate tax return for “state death taxes.”

For further information, visit the Alabama Department of Revenue site or call 334-242-1512 or 256-837-2319.  If you are thinking about retiring to Alabama, click here.
* For joint returns, the taxes are twice the tax imposed on half the income.

Today's Tidbit:  As the temperatures bounce around between 30 degrees and 70 degrees, try to keep yourself healthy by staying in a particular temperature range.  The wide variety of temperature differences has the ability to cause colds and sinus infections by making people more susceptible to them.

Huntsville Metro Area Homes

Confirmation of New Construction/Housing Growth from National Builder

An earlier post stated that the housing market was improving not due to resale of existing homes but of the strong sales of new construction, which had a better value for new over the currently existing homes with maybe older appliances and a maybe need of TLC in one form or another.

Now a new article has come out from the Dow Jones Newswires talking about the major home builder KB Homes (one of the largest home builders in the country) stating that orders for new home construction are up over 50% in this Jan from last Jan of 2012.  The company is feeling positive momentum and is going to be offering $100 Million dollars worth of stock for land acquisition/development, as well as general purposes.  Its stock hovering around 18 has been up 74% in the past 6 months.  Furthermore it has expanded into mortgage banking services as it has teamed with Nationstar Mortgage Holdings to form Home Community Mortgage LLC.

KB Homes position is not unique, as DR Horton (another nationwide home builder) has found itself expanding again.  The housing market is indeed turning around in a positive direction.  Now we only need to see if the resale current existing homes can go positive as well.

In the statement that A rising tide lifts all boats, its possible that in the future if home resales don't go positive it will have to be restated: A rising tide lifts all new boats.

Today's Tidbit:  Several things are going on.  First the Alabama Super RV show is going on from 1/25-27 at the VBC.  2nd, The 2013 Explorers Ball is celebrating 40 Years of Skylab at the Davidson Center at the US Space and Rocket Center on 1/31. Lastly, what does everyone think of American Airlines new logo?

Huntsville Metro Area Homes

Alabama and Huntsville, Economic Growth & Bagels

The State of Alabama was ranked at Number 5 in the economic growth category for the last three months of 2012 from research by the Federal Reserve Bank of Philadelphia.  Alabama came behind South Carolina, Nevada, Idaho, and Utah.  Hopefully the path will continue with the good work the state is doing at the state government level and the private ownership level.

The Vermont based bagel chain Bruegger's Bagels has claimed they are going to promote aggressive expansion in the Huntsville Alabama Metro Business Market with a possible six new stores in the region.

Bruegger's Bagels President David Austin: "Huntsville's economy continues to outperform the U.S. economy and our corporate locations in these markets have a loyal following,  We are eager to find franchise partners who will take advantage of this great opportunity to advance their own enterprise and continue Bruegger's Bagels' positive growth in the region."

This is very encouraging news from a jobs standpoint and economic standpoint.

Today's Tidbit:  With the growth of Brueggers and the new eateries going up around the new Madison Hospital, could this lead to more expansion of other eating establishments in both South Huntsville and West Huntsville in Limestone County?

Huntsville Metro Area Homes

A Little Self Promotion - Virtual Tour Style

Come take a wonderful look at this virtual tour of 138 Rockhill Drive in Meridianville.  Click and see if its something you may be interested in!  Give us a call using the contact info at the top of the page!

Huntsville Metro Area Homes

Foreclosures Up Nationwide in 2013 - RealtyTrac says Yes.

There have been two private sources that have confirmed that there will be more foreclosures hitting the market for 2013.  The new story from RealtyTrac confirms that to be true.

The opening statement from Dow Jones Newswires -

"The number of U.S. properties with foreclosure filings fell 3% in 2012 from 2011, but a backlog of delayed foreclosures could contribute to increased activity this year, according to market researcher RealtyTrac."

And the paragraph later down...

"Foreclosure activity increased in 25 states last year and 20 of those states use the longer judicial foreclosure process."

And this to add on to that segment...

" 'We expect to see continued increases in judicial foreclosure states near the beginning of the year as lenders finish catching up with the backlogs in those states, and another set of increases in some nonjudicial states near the end of the year as lenders adjust to the new laws and process some deferred foreclosures in those states,' said RealtyTrac Vice President Daren Blomquist."

So if you're in the mindset of looking for foreclosures, especially here in the Huntsville Alabama Metro Area. Then keep an active eye on the real estate, you never know what might pop up.  We here at Huntsville Metro Area Homes will be sure to be following this closely.

Today's Tidbit:  Good news for University of Alabama - Huntsville NCAA Division I ice hockey program.  The WCHA, one of the oldest & successful hockey conferences, has extended an invitation for UAH to join and was accepted yesterday afternoon at the annual NCAA Convention, which took place in Dallas this year.  

Huntsville Metro Area Homes