Category: Community

June 30, 2015

Kids Bike Parade in Concord, GA

Kids Bike Parade Set For July 4th in Concord

The annual children’s Independence Day Bike Parade will be held again this year Saturday, July 4 at 10 a.m. in Concord. Children of all ages are invited to bring their bikes, skates, scooters or wagons and line up in front of the Concord Café at 9:45 a.m. No motorized vehicles are allowed in the parade.

June 22, 2015

7 Patio Hacks to Try This Summer

Summer Hacks

When you’re not soaking up the sun on the beach or enjoying a game at the ball park, your backyard is likely playing host to summertime activities. To crank up the good times at home and enhance curb appeal, add these unconventional upgrades to your patio for endless fun all summer long.

HGTV

1. Chandelier and Sconces

Today’s outdoor lighting designs have evolved beyond tiki torches and paper lanterns. String up tiny twinklers, repurpose a chandelier, or install sconces to add some sparkle to your summer.

 

behappybeme.com

behappybeme.com

2. Suspended Sofa

Outdoor spaces have become an extension of the interior of the home, and your patio should be no exception. Suspend a sofa for lounging, create a coffee nook for weekend mornings, or a cozy bench to tackle your summer reading list.

squidoo.com

squidoo.com

3. Pizza Oven

It’s no secret outdoor kitchens are in high demand. Add your very own by installing a pizza oven in your backyard. For the non-handy homeowner, pre-manufactured pizza ovens are available, but do-it-yourselfers can construct one in a weekend.

bar

4. Foldable Bar

A bar is a must if you regularly host guests. If your patio doesn’t permit a full bar set, you can use a DIY foldable bar. The best part? It can be stored at a moment’s notice – not that you’d want to!

5. Movie Screen

easyliving.co.uk

easyliving.co.uk

 

An outdoor movie at home is a fun way to spend warm summer nights without breaking the bank. String clothesline between deck posts or trees and use a white sheet and a projector to create your very own theater.

houseofhepworths.com

houseofhepworths.com

 

6. Dance Floor

If your patio is spacious, boost the entertainment factor with a portable dance floor. If your patio is natural wood, reserve a corner for when Saturday Night Fever rolls around.

containergarden

7. Container Garden

Your patio is the perfect place for a container garden. Inject life onto a stone slab by growing your own vegetables or summer blooms.

 

Source: http://blog.realestatebook.com/page/2/

April 29, 2015

Weekend Fun | Barnesville Battle of the Bones Festival

Barnesville Battle of the Bones Festival

The Barnesville Battle of the Bones Festival will be held from May 1-2, 2015 in downtown Barnesville, GA. Join us for our 11th annual BBQ event where we will have food, fun, and entertainment!

 

On May 1-2, downtown Barnesville will host the Barnesville Battle of the Bones Festival. In 2013, the BBQ competition was featured on the television show BBQ Pitmasters and in 2014 it celebrated its 10th anniversary. The event is sanctioned by the Florida BBQ Association and was declared a State Championship Cook-off by Governor Sonny Perdue in 2009. Last year, 36 pro cook teams competed in the event, which was also an automatic qualifier for the World Food Championships held in Las Vegas, NV.

The Barnesville-Lamar County Chamber of Commerce is proud to announce that the 2015 event committee will be awarding its 8th annual scholarship in memory of the late Mayor Dewaine T. Bell. The scholarship is paid for by festival sponsorships as well as memorial paper pig sales.

The Custom Auto and Truck Show will feature cars, trucks, motorcycles, or any year custom vehicle or race cars. The show will be held in the United Bank parking lot and will begin at 11:00 a.m. on Saturday, May 2. Registration is $15.00 per car.

The 2015 Barnesville Battle of the Bones event will certainly be an event you will not want to miss. We encourage you to participate as a spectator, pro-cook team, musician, or vendor. For more information, please contact the Chamber at (770) 358-5884.

http://barnesville.org/battleofthebones/

April 3, 2015

Kitchen Cabinet Refacing: Big Change, Little Cost

Refacing Your Kitchen Cabinets: The Options and Cost

Want to reface your kitchen cabinets? Smart decision. Kitchen refacing is more cost effective and takes less time than a full remodel. Here are options and costs.

  • Effort: Med 2-4 days
  • Investment: Med $1,000-$3,000 (laminate refacing)

Refacing your cabinets can transform the look of your kitchen without all the headaches (and costs) of a full remodel.

 

Refacing your kitchen cabinets includes covering the exposed frames with a thin veneer of real wood or plastic laminate. Doors and drawer fronts are replaced to match or complement the new veneer. New hinges, knobs, pulls, and molding complete the transformation.

What are the Pros and Cons?

Kitchen cabinet refacing pros:

  • Costs about half as much as replacing cabinets.
  • Takes less time (a week or less!) and money.
  • It’s less hassle than tearing out cabinets.
  • You can still use your kitchen while refacing.

Kitchen cabinet refacing cons (there aren’t many):

  • Refacing won’t fix a bad kitchen design.
  • You might be tempted to spend more on exotic veneer and hardware (saving you less).

What are Your Refacing Options?

 

Your choices for the finished look of your cabinets are virtually limitless. Veneers are available in a wide variety of colors, patterns, textures, grains, and more, which you can mix or match to get a relatively low-cost kitchen facelift.

  • Rigid thermofoil (RTF) doors, which feature a durable plastic coating over fiberboard, are an affordable alternative to wood or laminate doors.
  • Plastic laminates come in hundreds of colors and patterns, are durable and moisture-resistant, and are reasonably priced. You can pick matching or contrasting laminates for your doors and drawer fronts.
  • Real wood veneers include many standard species, such as oak, cherry, and maple, and you also can choose from an array of stain colors. Wood veneers are the most expensive option. Wood must be carefully sealed to protect against moisture.

Further customize and update the look of your cabinets with new kitchen cabinet hardware.

 

What Does Refacing Cost?

 

A professional cabinet refacing for a typical 10-foot-by-12-foot kitchen starts at around $1,000 to $3,000 for laminate. Expect to pay $2,500 to $6,000 for real wood veneer. Costs can rise to $7,000 to $9,000 or more for a large project with high-quality wood veneer.

 

Finishing the project with new hardware (pulls, knobs, hinges) runs $2 to $4 per piece, up to $20 to $50 each for high-end hardware.

 

In comparison, completely replacing old kitchen cabinets with new cabinets starts at $4,000 to $5,000 and up for stock cabinets; $8,000 to $10,000 for semi-custom cabinets; $16,000 to $20,000 and up for custom-made cabinetry.

 

How Do I Know If My Cabinets are Good For Refacing?

 

Refacing is feasible if your existing cabinet boxes are structurally sound and in good condition. Cabinets with water damage, warping, and broken frames are poor candidates. Particleboard cabinetry sometimes requires fasteners, in addition to adhesives, to ensure that the veneer is secure.

 

How are They Installed?

 

A professional installer will come to your house to measure your cabinets and determine the amount of veneer required, the correct sizes and quantities for door and drawer fronts, and how much hardware is needed. Newly ordered doors and drawer fronts may take one to two weeks for delivery.

 

When all the materials are in hand, your installer removes old cabinet door and drawer fronts, and prepares the surface of the cabinet boxes by washing the exteriors with a degreaser and lightly sanding the finish. Any significant flaws in the surface are repaired or filled to ensure a smooth, secure fit for the new veneer.

 

The installer applies veneer to the cabinet faces and any exposed cabinet ends, then mounts the new doors, drawer fronts, and hardware. The process typically takes two to four days.

 

 

Read more: http://www.houselogic.com/home-advice/kitchens/refacing-kitchen-cabinets/#ixzz3WHCxtFU7

 

March 18, 2015

Don’t Get Ripped Off: Here’s What Common Repairs Should Cost

TOP 10 COMMON REPAIR COSTS

A dripping faucet can be fixed for about $30 dollars if you DIY. Bring in a plumber for the repair and you may spend up to $300 on labor.

_______________________________________________________________________________________________

Congratulations on buying your first house. Now, you have to learn how to keep it in good repair. To be safe, you should set aside money every year — 1% to 3% of your home’s purchase price — for repairs and maintenance.

The good news is that most repairs are simple, inexpensive, and DIY-friendly. If you can fix stuff yourself, you’ll only pay for the cost of materials and save a bundle on these common repairs and replacements.


1.  Replace Toilet Fill Valves

 

That annoying sound of water continually filling and draining from your toilet tank is often caused by leaky fill valve, which a plumber can replace, stopping water waste and restoring quiet. Plumber rates vary widely around the country, from $45 to $150 per hour, and the job will take about two hours — the minimum some plumbers require just to take the job.

 

Labor: $50 to $200

 

Materials: $11 to $23

 

Total: $61 to $223

 

Related: Home Maintenance 101: 7 Things Every Homeowner Should Know

 

2.  Repair a Leaky Faucet

 

The water torture drip-drip-drip from a leaky faucet won’t just drive you insane, it can drive up water bills, too. Depending on the type of faucet you have, fixes typically involve replacing damaged rubber washers (10 for $2), O-rings (10 for $2), or a faucet cartridge ($8 to $30).

 

Labor: $95 to $300

 

Materials: $2 to $30

 

Total: $97 to $330

 

Related: The WaterSense Label: What to Look For

 

3.  Replace Ceiling Fan

 

If you’ve got a ceiling fan, sooner or later the motor will burn out, the blades will warp, and fashions will change, so you’ll need to replace it. Replacing isn’t a big deal, because upgraded wiring, a reinforced ceiling box, and a light switch with ceiling fan controls are already in place. What you’re paying for is an electrician’s time — one or two hours — and a new fixture.

 

Labor: $50 to $200

 

Materials: $54 to $1,000 and up

 

Total: $104 to $1,200

 

Related: Ceiling Fans: Know the Spin Before You Install

 

4.  Repair Drywall

 

Nicks, gashes, and smashes inevitably mar your beautiful walls. You’ll have to patch and paint to make them look as good as new. A painter can do both jobs and will probably give you a flat rate that will include patching or filling blemishes, then sanding, priming, and painting.

 

Painters charge $25 to $62 per hour for labor or $2.68 to $4.60 per square foot including materials. Figure it will take about three hours to repair a wall, including drying time for the patching compound and paint. It’s a good idea to save up painting chores so you have enough to keep a painter busy while repairs cure.

 

Materials include paint at $12 to $50 or more a gallon, which should cover about 350 square feet; plus another $10 to $50 for brushes, rollers, drop clothes, and drywall patching compound.

 

Labor: $75 to $186

 

Materials: $22 to $100

 

Total: $97 to $286

 

Related: Patch a Drywall Hole

 

5.  Repair Cracked Tile

 

Tile is hard and durable, but drop something heavy on it and it’s likely to crack — a reason to always order more tile than you need so you’ll always have spares. To replace cracked tiles, a handyman must pry out the damaged tiles, scrape away old fixative, re-glue new tiles, and spread new grout. Replacing a 2-foot-by-2-foot section of tile should take one to two hours, not including the drying time required for the adhesive to set.

 

Labor: $30 to $125 per hour; with possible $150 to $350 minimum charge for a handyman

 

Materials: $1 to $20 per square foot

 

Total: $34 to $430

 

Related: Smart Tips for Choosing Bathroom Flooring

 

6.  Replace Caulk Around Tubs, Sinks, and Showers

 

Caulk is the waterproof seal around sinks, tubs, and showers that prevents moisture from seeping through gaps and onto drywall and flooring. When caulk cracks or peels, it should be replaced immediately to prevent mold and rot.

 

A handyman can dig out old caulk around a tub and reseal with new in about an hour.

 

Labor: $30 to $125 per hour; with possible $150 to $350 minimum charge for a handyman

 

Materials:  $1 to $4 for a tube of bathroom caulk

 

Total: $31 to $354

 

Related: How to Remove Caulk

 

7.  Fix Gutters

 

Gutters and downspouts carry water from rain and snow away from your house and onto the ground. Sometimes the weight of wet snow and soggy leaves puts too much pressure on gutters, causing them to pull away from the house or pitch at inefficient angles.

 

A gutter contractor will clean gutters, and replace or reinstall supportive hardware and hangers. To restore the correct pitch, the contractor must detach and reattach each gutter section.

 

Labor: $127 to $282 (depending on length of gutter)

 

Materials: $10 for five hangers; $6 to $9 for gutter sealant

 

Total: $143 to $301

 

Related: How to Unclog a Gutter

 

8.  Fix Out-of-Alignment Doors

 

Over time, your house moves as its foundation settles and building materials expand and contract with changes in humidity. The movement often is noticed when doorframes shift slightly, causing hinges to creak and doors to not shut properly.

 

Adding wooden shims to frames and hinges can bring doors back into alignment and let them easily open and close once again. Replacing worn-out screws with longer screws helps secure hinges tightly.

 

A handyman can fix a door in about an hour. Materials will include shims and screws.

 

Labor: $30 to $125 per hour; with possible $150 to $350 minimum charge for a handyman

 

Materials: $5

 

Total: $35 to $355

 

Related: Cool Improvements: Replacing Your Interior Doors

 

9.  Repair Ice Damming

 

If your house isn’t insulated correctly or your roof isn’t designed correctly, melting roof snow can run off and freeze around roof edges. Eventually, this can form an ice dam that creeps up your roof, damaging shingles and forcing melting water into your home.

 

One popular solution to ice damming is to install a heating cable along the roof’s edge, which warms the area and prevents freezing. It’s not a DIY job. Roofing contractors will install the cable, and an electrician will install outlets that will juice up the cable. If you want a thermostat to turn the cable on and off automatically, that’ll be extra, too.

 

Labor and materials: $30 to $60 per linear foot

 

Total: $371 to $1,319 (average job cost)

 

Related: How to Prevent Ice Dams

 

10.  Fix a Faulty Light Switch

 

Sometimes you turn on the light but nothing happens; or sparks crackle, and the light turns on. It’s disconcerting, but most likely it’s an easy fix. An electrician will turn off the power, take off the faceplate, check and perhaps tighten wires; or replace the switch. All told, it will take less than an hour.

 

Labor: $50 to $100 per hour

 

Materials: $1 to $6 for a single pole light switch

 

Total: $41 to $106

 

Related: How to Repair a Light Switch

 

Source: http://www.houselogic.com/home-advice/repair-tips/home-repair-costs/#ixzz3Ulm1HIJ7

 

March 11, 2015

What Not to Do as a New Homeowner

Before you start working on your curb appeal, give 811 a call. The hotline will send out folks from your local utilities to mark underground pipes, cables, and wires so you don’t sink your shovel into something dangerous.

We know so well the thrill of owning your own house — but don’t let the excitement cause you to overlook the basics. We’ve gathered up a half dozen classic boo-boos new homeowners often commit — and give you some insight on why each is critically important to avoid.

1. Not Knowing Where the Main Water Shutoff Valve Is

Water from a burst or broken plumbing pipe can spew dozens of gallons into your home’s interior in a matter of minutes, soaking everything in sight — including drywall, flooring, and valuables. In fact, water damage is one of the most common of all household insurance claims.

Quick-twitch reaction is needed to stave off a major bummer. Before disaster hits, find your water shutoff valve, which will be located where a water main enters your house. Make sure everyone knows where it’s located and how to close the valve. A little penetrating oil on the valve stem makes sure it’ll work when you need it to.

2. Not Calling 811 Before Digging a Hole

Ah, spring! You’re so ready to dig into your new yard and plant bushes and build that fence. But don’t — not until you’ve dialed 811, the national dig-safely hotline. The hotline will contact all your local utilities who will then come to your property — often within a day — to mark the location of underground pipes, cables, and wires.

This free service keeps you safe and helps avoid costly repairs. In many states, calling 811 is the law, so you’ll also avoid fines.

3. Not Checking the Slope of Foundation Soil

The ground around your foundation should slope away from your house at least 6 inches over 10 feet. Why? To make sure that water from rain and melting snow doesn’t soak the soil around your foundation walls, building up pressure that can cause leaks and crack your foundation, leading to mega-expensive repairs.

This kind of water damage doesn’t happen overnight — it’s accumulative — so the sooner you get after it, the better (and smarter) you’ll be. While you’re at it, make sure downspouts extend at least 5 feet away from your house.

Related: How to Prevent Water Damage

4. Not Knowing the Depth of Attic Insulation

This goes hand-in-hand with not knowing where your attic access is located, so let’s start there. Find the ceiling hatch, typically a square area framed with molding in a hallway or closet ceiling. Push the hatch cover straight up. Get a ladder and check out the depth of the insulation. If you can see the tops of joists, you definitely don’t have enough.

The recommended insulation for most attics is about R-38 or 10 to 14 inches deep, depending on the type of insulation you choose. BTW, is your hatch insulated, too? Use 4-inch-thick foam board glued to the top.

Related: Attic Air Leaks: How to Find and Seal Them

5. Carelessly Drilling into Walls

Hanging shelves, closet systems, and artwork means drilling into your walls — but do you know what’s back there? Hidden inside your walls are plumbing pipes, ductwork, wires, and cables.

You can check for some stuff with a stud sensor — a $25 battery-operated tool that detects changes in density to sniff out studs, cables, and ducts.

But stud sensors aren’t foolproof. Protect yourself by drilling only 1¼ inches deep max — enough to clear drywall and plaster but not deep enough to reach most wires and pipes.

Household wiring runs horizontally from outlet to outlet about 8 inches to 2 feet from the floor, so that’s a no-drill zone. Stay clear of vertical locations above and below wall switches — wiring runs along studs to reach switches.

6. Cutting Down a Tree

The risk isn’t worth it. Even small trees can fall awkwardly, damaging your house, property, or your neighbor’s property. In some locales, you have to obtain a permit first. Cutting down a tree is an art that’s best left to a professional tree service.

Plus, trees help preserve property values and provide shade that cuts energy bills. So think twice before going all Paul Bunyan.

Read more: http://www.houselogic.com/home-advice/repair-tips/what-new-homeowners-need-to-know/#ixzz3Tv5vtJf1

March 6, 2015

Coming This Spring…

The 32nd Annual Great Griffin Mayfling will be held at Griffin City Park April 25th & 26th.  The Mayfling committee announced the following attractions this year:

 

*5K Strides for Sight hosted by the Griffin Lions Club

Click here for registration form  
*Southern Cruisers Classic Car Show

Saturday  – 11am-3pm

Click here to sponsor a trophy

*Youth Vocal Competition on Saturday for

two age divisions

Click here for flyer

Click here for registration form

Click here for competition rules

*Fun Dog Show on Sunday

Click here for flyer

 

* Arts & Crafts & Commercial Vendors

*Plenty of Good Food

(come try a pot roast sundae).

*Robotic activities with Georgia Tech on both days

 
If you have any questions on any of these events, please contact the Chamber at 770-228-8200.

To become a vendor, click here.

February 25, 2015

Budget For A Remodel

How To Budget For Home Remodel

To calculate how much remodel you can afford, follow these four steps: Ballpark the cost, establish a spending limit, get quotes from contractors, and set your priorities.

Read more: http://www.houselogic.com/home-advice/planning-your-remodel/how-to-budget-for-home-remodel/#ixzz3SmgfCzZ2

 

When it comes to home improvements, knowing what you want is the easy part. The tougher question is figuring out how much you can afford. Follow this four-step plan to arrive at the answer.

1.  Ballpark the costs. First, get a handle on how much your remodeling dreams will cost. In general, major upgrades, such as a bathroom remodel or a family-room addition, run $100 to $200 per square foot.

“Remodeling” magazine’s 2015 “Cost vs. Value Report” gives national averages for 36 common projects. You’ll find many of those project costs and other good info in our Cost vs. Value section.

2.  Figure out how much you have to spend. Once you’ve zeroed in on a project, the next question is whether you have the money. If you’re paying cash, that’s easy to answer. But if you’re borrowing, you need to assess how much a bank will lend you and what that loan will add to your monthly expenses.

There are three basic types of loan options:

  • A cash-out refinance
  • A home equity loan
  • A home equity line of credit (HELOC)

For the vast majority of homeowners, the best way to borrow for a home improvement is a home equity line of credit. A HELOC is a loan that’s secured by your home equity, which means that it qualifies for a lower rate than other loan types, and you can deduct the interest on your taxes.

Because a HELOC is a line of credit rather than a lump-sum loan, it comes with a checkbook that you use to withdraw money as needed, up to the maximum amount of the loan.

For help shopping for a HELOC, download our free worksheet.

The catch is that the minimum payment on a HELOC is just that month’s interest; you’re not required to pay back any principal. Like only paying the minimum due on a credit card, that’s a recipe for getting stuck in debt.

Instead, establish your own repayment schedule. You can do this by paying 1/60th of the principal (for a five-year pay down) or 1/120th (for 10 years) in addition to the monthly interest. If you can’t afford that much, then you should reconsider your project.

Related: 6 Ways to Pay for a Remodel When You Can’t Tap Home Equity

3.  Get quotes from contractors. Before seeking bids, determine exactly what you want, right down to the kitchen countertop material and the type of faucet. By specifying these details up front, you ensure that prospective contractors are all pricing the same items.

Get recommendations for at least three contractors from friends, neighbors, and other tradesmen who you trust. Give each one your project description and specific product lists and request an itemized bid. To find the right contractor:

  • Ask to see their recent work
  • Check references
  • Look at online sites that provide peer reviews of contractors

Related: 5 Essential Questions to Ask Before Hiring a Contractor

Reality Check: Cost Overruns

Take the winning contractor’s bid and add a 15% to 20% contingency for the unforeseen problems and changes that occur on every project. Is the total still within your ability to pay? If so, you’re ready to get started. If not, it’s time to scale back your plans.

4.  Set priorities and trim the project to fit your budget. Dreams and budget not in alignment? Carefully scale down your dream — chances are you’ll end up satisfied and solvent. Enlist your contractor for suggestions on cutting costs — that way, he’ll be an ally in helping you stick to your budget.

Possibilities include:

  • Low-cost alternatives. For example, specify laminate countertops instead of granite.
  • Keeping older items that are still in working condition. Appliances, furnaces, and lighting fixtures can be upgraded later.
  • Making the project smaller. Trim that bathroom addition from 100 square feet to 80 square feet.
  • Buy it yourself. You’ll save up to 20% on your project costs if you buy materials and appliances yourself. Be sure to coordinate your BIY efforts with your contractor.

Read more: http://www.houselogic.com/home-advice/planning-your-remodel/how-to-budget-for-home-remodel/#ixzz3SmgDA9uz

February 11, 2015

Helpful Tax Info: Deductible Mortgage Points

Are Your Mortgage Points Tax Deductible?

When you took out a mortgage to buy your home, did you pay points? You may be able to deduct that prepaid interest on your federal tax return — but only if you meet a long list of rules.

 

If you determine that your mortgage points are deductible, you’ll report them on a Schedule A of Form 1040.

 

The points you paid when you signed a mortgage to buy your home may help cut your federal tax bill. With points, sometimes called loan origination points or discount points, you make an upfront payment to get a particular rate from the lender.

 

Since mortgage interest is deductible, your points may be, too.

If you itemize your deductions on Schedule A of IRS Form 1040, you may be able to deduct all your points in the year you pay them.

Some high-income taxpayers have their total itemized deductions limited, including points. You can read more about that in the instructions for Schedule A.

Lucky for you, the IRS doesn’t care whether you or the homesellers paid the points. Either way, those points are your deduction, not the sellers’.

Tip: Tax law treats home purchase mortgage points differently from refinance mortgage points. Refinance loan points get deducted over the life of your loan. So if you paid $1,000 in points for a 10-year refinance, you’re entitled to deduct $100 per year on your Schedule A.

The Fine Print for Deducting Points

The IRS rules for deducting purchase mortgage points are straightforward, but lengthy. You must meet each of these seven tests to deduct the points in the year you pay them.

1.  Your mortgage must be used to buy or build your primary residence, and the loan must be secured by that residence. Your primary home is the one you live in most of the time. As long as it has cooking equipment, a toilet, and you can sleep in it, your main residence can be a house, a trailer, or a boat.

Points paid on a second home have to be deducted over the life of your loan.

2.  Paying points must be a customary business practice in your area. And the amount can’t exceed the percentage normally charged. If most people in your area pay one or two points, you can’t pay 10 points and then deduct them.

3.  Your points have to be legitimate. You can’t have your lender label other things on your settlement statement, like appraisal fees, inspection fees, title fees, attorney fees, service fees, or property taxes as “points” and deduct them.

4.  You have to use the cash method of accounting. That’s when you report your income to the IRS as it comes in and report your expenses when you pay them. Almost everybody uses this method for tax accounting.

5.  You must pay the points directly. That is, you can’t have borrowed the funds from your lender to pay them. Any points paid by the seller are treated as being paid directly by you.

In addition, monies you pay, such as a downpayment or earnest money deposit, are considered monies out of your pocket that cover the points so long as they’re equal to or more than points.  Say you put $10,000 down and pay $1,000 in points. The downpayment exceeds the points, so your points are covered and therefore you can deduct them if you itemize. If you were to put nothing down but you paid one point, that $1,000 wouldn’t be deductible.

6.  Your points have to be calculated as a percentage of your mortgage. One point is 1% of your mortgage amount, so one point on a $100,000 mortgage is $1,000.

7.  The points have to show up on your settlement disclosure statement as “points.” They might be listed as loan origination points or discount points.

Tip: You can also fully deduct points you pay (for the year paid) on a loan to improve your main home if you meet tests one through five above.

Where to Deduct Points

Figured out that your points are deductible? Here’s how you deduct them:

Your lender will send you a Form 1098. Look in Box 2 to find the points paid for your loan.

If you don’t get a Form 1098, look on the settlement disclosure you received at closing. The points will show up on that form in the sections detailing your costs or the sellers’ costs, depending on who paid the points.

Report your points on Schedule A of IRS Form 1040.

There are two things related to points that you can’t deduct:

1.  Interest buy-downs your builder paid

Some builders put money in an escrow account (as a buyer incentive) that the lender taps each month to supplement your mortgage payment. Those aren’t considered points even though the money is used for an interest payment and it’s prepaid. You can’t deduct the money the builder put into that escrow account.

2.  Interest payments from government programs

You can’t deduct points paid by a federal, state, or local program, such as the federal Hardest Hit Fund, to help you if you’re experiencing financial trouble.

 

 

Read more:  http://www.houselogic.com/home-advice/tax-deductions/mortgage-points-deduction/#ixzz3RGG0MbDW

December 2, 2014

Toys WANTED

 

TOYS FOR TOTS

Only one week left to help McLeRoy Realty gather new, unwrapped toys for TOYS FOR TOTS! The drop off deadline is December 8th. You may drop off toys to our office at 8945 US Highway 19, Zebulon, GA between  8:30 am and 5:00 pm.