New Listing!

Check out our latest listing in the Pebble Creek community! Looking for a beautiful 3/2.5 home, on a large lot, in a quiet neighborhood? Look no further. This home has all the features you would expect and so much more...Click here for a virtual tour. Give Annie or Drew a call today to schedule a showing!

Drew Parker, CCIM is the owner of The Parker Company in Greenville, SC. He and his team of experts are fully capable and ready to help you with your residential or commercial real estate needs.

How to Claim Your 2011 Energy Tax Credits

While the 2011 federal energy tax credit of $500 is a far cry from what it was in 2009 and 2010, it is better than nothing! If you upgraded one or more of the following systems in 2011, you may be eligible to take advantage of the tax credit:

1. Biomass Stove
2. Heating, Ventilation, Air Conditioning
3. Insulation
4. Roofs (metal or asphalt)
5. Water Heaters (non-solar)
6. Windows, doors, skylights
7. Storm windows and doors

Remember, with a credit you get a dollar for dollar reduction in your tax liability! Below are a few limits to the tax credit:

1. Credit only extends to 10% of the cost (not 30% like in year's past). For example, you would need to spend $5,000 to get the full $500 credit.
2. $500 is a lifetime limit. If you already claimed your $500 credit in 2009 and 2010 combined, then you are not eligible. However, if you only took $200 in the last two years, then you are still eligible to receive the remaining $300 in 2011.
3. Check with your accountant, but with some systems the cap is less than $500. For example, there is a $200 cap on upgrading your windows.
4. Not all products are created equal. Improvements have to meet the IRS energy-efficient standards to qualify for the tax credit. Find out what is approved at EnergyStar.gov.
5. Tax credits cover installation cost SOMETIMES...Installation is covered for systems such as Biomass Stoves, HVAC, and non-solar water heaters, but is NOT COVERED for insulation, roof, windows, doors or skylights.

How to claim your credit:

1. Determine if the system you installed is eligible by checking at EnergyStar.gov.
2. Save system receipts and manufacturer certifications.
3. File IRS Form 5695 with the rest of your tax forms in 2012.

Drew Parker, CCIM is the owner of The Parker Company real estate. Drew and his team of experts are equipped to assist you with your commercial or residential real estate needs.

Source: http://www.houselogic.com/home-advice/tax-credits/how-to-collect-2011-tax-energy-credits/

FHA to increase Mortgage Insurance Premiums

This is important news to anyone considering an FHA mortgage. See full story below:

HUD No. 12-037 HUD Public Affairs (202) 708-0685

FOR RELEASE Monday February 27, 2012

FHA TAKES ADDITIONAL STEPS TO BOLSTER CAPITAL RESERVES
New premium structure will help protect FHA’s MMI fund

WASHINGTON – As part of ongoing efforts to encourage the return of private capital in the residential mortgage market and strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund, Acting FHA Commissioner Carol Galante today announced a new premium structure for FHA-insured single family mortgage loans. FHA will increase its annual mortgage insurance premium (MIP) by 0.10 percent for loans under $625,500 and by 0.35 percent for loans above that amount. Upfront premiums (UFMIP) will also increase by 0.75 percent.

These premium changes will impact new loans insured by FHA beginning in April and June of 2012. Details will soon be published in a Mortgagee Letter to FHA-approved lenders.

“After careful analysis of the market and the health of the MMI fund, we have determined that it is appropriate to increase mortgage insurance premiums in order to help protect our capital reserves and to continue encouraging the return of private capital to the housing market,” said Galante. “These modest increases are one of several measures we are taking towards meeting the Congressionally mandated two percent reserve threshold, while allowing FHA to remain a valuable option for low- to moderate-income borrowers.”

The Temporary Payroll Tax Cut Continuation Act of 2011 requires FHA to increase the annual MIP it collects by 0.10 percent. This change is effective for case numbers assigned on or after April 1, 2012. FHA is also exercising its statutory authority to add an additional 0.25 percent to mortgages exceeding $625,500. This change is effective for case numbers assigned on or after June 1, 2012.

The UFMIP will be increased from 1 percent to 1.75 percent of the base loan amount. This increase applies regardless of the amortization term or LTV ratio. FHA will continue to permit financing of this charge into the mortgage. This change is effective for case numbers assigned on or after April 1, 2012.

FHA estimates that the increase to the upfront premium will cost new borrowers an average of approximately $5 more per month. These marginal increases are affordable for nearly all homebuyers who would qualify for a new mortgage loan. Borrowers already in an FHA-insured mortgage, Home Equity Conversion Mortgage (HECM), and special loan programs outlined in FHA’s forthcoming Mortgagee Letter will not be impacted by the pricing changes announced today.

Taken together, these premium changes will enable FHA to increase revenues at a time that is critical to the ongoing stability of its Mutual Mortgage Insurance (MMI) Fund, contributing more than $1 billion to the Fund, based on current volume projections through Fiscal Year 2013.

What is a CCIM?

Within the commercial real estate industry, the Certified Commercial Investment Member (CCIM) designation is highly valued and respected. Unfortunately, when you venture outside the industry there are very few who understand the significance of those four letters. So what is a CCIM?

A CCIM (Certified Commercial Investment Member) is a recognized expert in the commercial and investment real estate industry. The CCIM designation is earned after successfully completing a process that ensures CCIMs are proficient not only in theory, but also in practice. This elite corps of CCIMs includes brokers, leasing professionals, investment counselors, asset managers, appraisers, corporate real estate executives, property managers, developers, institutional investors, commercial lenders, attorneys, bankers, and other allied professionals.

CCIMs have completed more than 160 hours of case-study driven education. A designation curriculum that covers essential CCIM skill sets including ethics, interest-based negotiation, financial analysis, market analysis, user decision analysis, and investment analysis for commercial investment real estate. CCIMs have completed a portfolio demonstrating the depth of their commercial real estate experience. Finally, they have demonstrated their proficiency in the CCIM skill sets by successfully completing a comprehensive examination. Only then is a designation candidate awarded the coveted CCIM pin, joining the ranks of highly skilled commercial and investment real estate experts.

Drew Parker, CCIM is the owner of The Parker Company real estate. Drew and his team of experts are equipped to assist you with your commercial or residential real estate needs.

Cliffs Communities will file for Bankruptcy

The economic recession has hit many developers hard and Jim Anthony, owner of the Cliffs Communities, was no exception. On Wednesday it was announced that the Cliff's will file Chapter 11 bankruptcy and the Carlile Group will assume control of the Cliff's properties. Based in Texas, the Carlile Group is headed by Steve and Penny Carlile.

The new owners say they plan to keep Anthony's vision and will not need to take on additional bank debt. "This is important for the community. It's important for employees," Carlile said. "This needs to work." The Carlile's are east Texas natives and both attended Baylor. Previous investments have focused on oil and gas exploration and trucking. They are also known for owning Celebrating Home. Celebrating Home offers a unique combination of the very best entertaining and decorating products, training, compensation and marketing support in the direct selling industry.

So what does all this mean for the Upstate? It may take several years to find out, but it certainly appears to be a positive step. The Carlile's have indicated they are investing "patient" money, which is what the Cliffs needs right now. The properties are located in some of the most beautiful areas of North and South Carolina, so the demand will return once the financial risk is removed.

For more on this story click the following link: http://www.wyff4.com/news/30410916/detail.html

Drew Parker, CCIM is the owner of The Parker Company Real Estate. Please contact him today to learn how his company can help you with your residential or commercial real estate needs.

Latest Virtual Tour

At The Parker Company, we believe your home needs every advantage in this tough market. One of the ways we help you gain that advantage is by providing high quality professional virtual tours. You can check our latest virtual tour out by clicking here.

The Parker Company is a full service real estate firm located in Greenville, SC, offering residential and commercial real estate services. Our approach to business is simple and straight forward: we have a job because of our clients, therefore we are committed to working around the clock to ensure a high level of service. We maintain a strong emphasis on our client relationships, effective marketing strategies and simply doing what is right. As local Greenville residents and ambassadors for the upstate, we care about the future of our community and want to build our impact in the area through sound real estate transactions.

Fabulous home for sale on top ranked golf course!

Make sure to check out our latest listing!

This fabulous custom brick ranch home offers not just luxury, but lifestyle as well! Located on the 13th fairway at the Thornblade Club in Greer, SC, you have a front row seat to one of the top rated golf courses in South Carolina. Visit the home once and you will be blown away by the soaring ceilings, open floorplan, and superb craftsmanship. 112 Antigua Way is more than an address, it's a lifestyle…click to read more and see photos.