short sale: What does the "Shadow" know? - 07/15/10 03:21 AM
What does the Shadow know?... What is "shadow inventory"?  It is the pent up supply of sellers that have not yet put their home on the market.  This can be in the form of homeowners who decide to sell or it can be in the form of a foreclosure or short sale that has not yet entered the market. Many banks are currently slowing down their foreclosure processes to avoid having too much inventory to try to resell.   There are many homeowners that are current on their payments but owe way more than the home is worth. At some point some … (4 comments)

short sale: 2490 Lakewood Dr, Kennesaw, Ga.,short sale,fixer upper - 04/02/10 05:28 AM
Kenesaw Ga fixer upper. Short Sale 3/1.5 all brick ranch plus a full basement and fenced yard.

Conveniently located near 41 and Kennesaw Due West Road. Only minutes to Town Center Mall, I-75, KSU.

Kennesaw Mtn High School, Pine Mtn Middle School, and Durham Elementary.

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short sale: My first "Short Sale" 2003 - 03/18/10 02:29 AM
2003 and it was my 1st "Short Sale" It was back in 2003 and I had been licensed for maybe a year. I was still on a team (although I use the word loosely).  Short sales were not unheard of then but they were nowhere near as common as they are today. Some old friends of mine had hit hard times and needed to sell or be foreclosed. They had refinanced their home AND taken out a second mortgage. They owed $135,000 and the very highest comp in the neighborhood had recently sold for $132,000.  That was for a home in … (4 comments)

short sale: Short Sale? Consider your credit. - 03/17/10 05:07 AM
Do you need to sell your home for less than what is owed?  This is possible to do and it can be a good alternative to foreclosure or simply mailing the house keys to the lender.  With a short sale there will be a ding to your credit but it will be much less than having a foreclosure.  After a foreclosure the minimum time to qualify for a new mortgage will be 2-3 years.  After a short sale it would be very feasible to qualify again in a year or maybe even less. Every situation is different and a short sale may … (0 comments)

short sale: Foreclosure, short sale,loan mod or bankruptcy? What's a seller to do? - 02/24/10 03:00 AM
Foreclosure, bankruptcy, short sale, or loan mod?
Distressed home owners here in Georgia, or anywhere else for that matter,  have many choices to make. Some of those may involve us as real estate professionals. However some do not.  We need to look at each situation and give our best advice.  Each possible alternative has its positive and negative results and should be carefully considered. Here are what I see as the primary choices and my thoughts on each. Foreclosure: Some home owners will choose to simply stop making payments and walk away.  Of course this will have a huge negative impact … (3 comments)

short sale: After foreclosure, Do I still owe any money? - 02/05/10 12:39 AM
After foreclosure or short sale in Georgia,  Do I still owe any money? After foreclosure or short sale in Georgia,  Do I still owe any money?  Believe it or not the answer may be yes! Georgia is one of over 30 states that does allow the lender to collect from the home owner after a foreclosure. A recent article on CNNMoney.com explored some of the reasons but here is my explanations as simple as I can make it.   When you obtain a mortgage the loan is based on two factors.
Your credit. One component of the loan is your promise … (2 comments)

 
Bob Southard, e-Pro - Cobb, Cherokee, North Fulton (Atlas Realty Service, LLC) Rainmaker large

Bob Southard

e-Pro - Cobb, Cherokee, North Fulton

Kennesaw, GA

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Atlas Realty Service, LLC

Address: 2090 BAKER RD, SUITE 304-133, Kennesaw, GA, 30144

Office: 678-439-SOLD(7653)

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