foreclosue short sales gwinnett ga lawrenceville: 17,000,000 Homes - 05/24/11 05:27 AM
Current numbers show that 17,000,000 homes expected enter the foreclosure list
A break down by the numbers
3,000,000 Homes currently owned by the bank via Foreclosure
4,000,000 Homes currently owned by Fannie Mae Freddie Mac
an additional 10,000,000 homes purchased between 2005-2007 underwater - preparing for strategic default .
= 17,000,000. Grand Total of Homes are headed for foreclosure (or already in foreclosure)
Now Granted Short Sales and Loan Modifications can and will prevent some homes from entering the foreclosure process but remember there are roughly 5,000,000 TOTAL homes sold per year. and current REO  inventory suggest a 3 year supply … (0 comments)

foreclosue short sales gwinnett ga lawrenceville: Ready set Go No No No Wait No Go -? - 05/17/11 02:35 AM
Has the ready set Go no Wait Game of self imposed foreclosure moratorium cost the lenders more than can be recovered in the sale  With the increase in aging, non listed, non sold, shadow inventory on the raise and total debt now exceeds the original loan how will banks clear the inventory offer the books ?  Will banks offer greater incentives to buyers in the form or repair allowance and upgrades or simply reduce the market price hoping for a quick sale to stop the bleeding?
It is surprising is just how old some of the foreclosures  are.
In Contra Costa alone there are 123 homes … (0 comments)

foreclosue short sales gwinnett ga lawrenceville: The Long Shadow of Shadow Inventory - 05/04/11 03:43 AM
Well I guess it's  official -  Foreclosures will continue to slow housing prices and over all housing recovery for the next 3- 4 years ? 
"A full housing recovery is three to four years off as the nation grapples with a shadow housing inventory of 4.5 million distressed properties", according to Michael Fratantoni, vice president of research and economics for the Mortgage Bankers Association.
What the story behind the story -  shadow inventory-  Yep Shadow Inventory again  is driving down prices in parts of the U.S. and that nasty Shadow inventory is stalling an overall national recovery even though most of the distressed inventory is concentrated in … (3 comments)

foreclosue short sales gwinnett ga lawrenceville: Tulips and Dandelions are not the only popping up .. Ck out Housing inventory - 04/12/11 09:05 AM
Housing inventory around the country is on the rise, as sellers look to capitalize on the spring home buying season.  Home sale inventory was up 2.97% in March and up 6.83% over the three months ended in March, according to the Altos Research 10-City Composite Index.  The index is a statistical compilation of property prices highly correlated with the S&P/Case-Shiller Index. The 10-city index is based on single-family homes in Boston, Chicago, New York, Los Angeles, San Diego, San Francisco, Miami, Las Vegas, Washing D.C., and Denver; however, Altos also reports figures from other cities around the country.Sale inventory in Boston … (0 comments)

foreclosue short sales gwinnett ga lawrenceville: Vacant Property Registration - Fees and Fines and Taxes oh my !!! - 04/11/11 09:51 AM
I have to ask is there a value - once registered then what ? Oh is this just a State / County back door, or does it provide a readymade list for code compliance officers to check up  on properties and help maintain property values. 
How well is it working in your area ? 
PENDING GA. House Bill 110 - To address vacant properties and registration including fees.
HB 110 Vacant Properties Registration
This bill will function as a statewide framework for registries of vacant properties.
Vacant Properties definition has been narrowed in the substitute to be defined as (a) … (0 comments)

Eric Reid (Renaissance Realty Group of Keller Williams Atlanta Partners)

Eric Reid

Lawrenceville, GA

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