November 20, 2008

Stimulus News: Currently the Stimulus package is considering a proposed $15,000 tax credit, which applies to all home purchases -- not just new homes and not just first time buyers. It is sponsored by Senator Johnny Isakson, Republican of Georgia, a former real estate broker. He said it was modeled after a similar, $2,000 homebuyer incentive that helped lead the country out of recession in 1975. The tax credit would give buyers 10 percent of the price of a primary residence bought within one year, up to $15,000, and is intended to stabilize plummeting home prices. The amendment would allow taxpayers to claim the credit on their 2008 income tax return and to spread the tax credit over two years. It also seeks to prevent misuse by only allowing purchases of a principle residence and by recapturing the credit if the home is sold within two years of purchase.

The U.S. Senate on Friday also approved an amendment to an economic stimulus bill that would direct $50 billion in funds from the Treasury Department's Troubled Asset Relief Program to foreclosure mitigation efforts. This program is estimated to prevent approximately 2 million foreclosures. The amendment also forces changes in the federal government's $300 billion Hope for Homeowners program to increase participation. Under the amendment, homeowners would have to share 25% of future equity in their home, rather than the current 50% requirement.

In other news:
The National Association of Realtors said Tuesday its index of pending home sales, which measures contracts signed but not closed, rose 6.3% to 87.7 in December from a month earlier.

Moody's Economy.com cites signs that home sales are stabilizing as people snap up bargains on foreclosures, a decline in the supply of unsold homes in many areas and expectations of moves by the Obama Administration "that will help place a floor under the housing downturn." Those measures could include lowering mortgage rates further, preventing more foreclosures and generating jobs through higher federal spending.

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Local Information for Dalton, GA

Latitude: 34.771088 -- Longitude: -84.971553

ZIP Codes for Dalton, Georgia	30719 30720 30721 30722
Area Code for Dalton, Georgia	706
Time zone for Dalton, Georgia	EST

Other Area Cities: Dalton, GA Calhoun, GA La Fayette, GA

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Dalton is often referred to as the "Carpet Capital of the World," home to 150+ carpet plants and approximately 100 carpet outlet stores. The industry employs more than 30,000 people in the Whitfield County area.Dalton is a railfan's hotspot. 50 to 55 trains run through Dalton on a typical day. Norfolk Southern's Georgia Division (Atlanta to Chattanooga) and the CSX Western & Atlantic Subdivision (Atlanta to Chattanooga) run right through Dalton, and sometimes one can find a few Norfolk Southern locomotives that run long hood forward. The original train depot is now a restaurant and a landmark in the community.Marla Maples (former wife of Donald Trump) is from Maples as well as Deborah Norville (host of Inside Edition).Dalton is located at 34°46'16?N, 84°58'18?W (34.771088, -84.971553)GR1.According to the United States Census Bureau, the city has a total area of 51.4 km² (19.8 mi²). 51.3 km² (19.8 mi²) of it is land and 0.1 km² (0.04 mi²) of it (0.10%) is water. -- Source: Wikipedia.com

Georgia 2000 Census Population Profile Map

	Dalton	Georgia	United States
Population	27,912	8,186,453	281,421,906
Median age	31.1	33.4	35.3
Median age for Male	29.7	32.1	34
Median age for Female	32.9	34.6	36.5
Households	9,689	3,006,369	105,480,101
Household population	27,227	7,952,631	273,643,273
Average household size	2.81	2.65	2.59
Families	6,515	2,111,647	71,787,347
Average family size	3.43	3.14	3.14
Housing units	10,229	3,281,737	115,904,641
Occupied units	9,689	3,006,369	105,480,101
Vacant units	540	275,368	10,424,540

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November 20, 2008

Local Information for Dalton, GA

Latitude: 34.771088 -- Longitude: -84.971553

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