foreclosures: Atlanta Foreclosure Shock
- 10/17/08 09:32 AM
I was in the auto dealership today waiting on my car getting an oil change. I was passing the time watching a mindless channel on TV, and browsing stale People magazines. I picked up what I assumed was the local classifieds from the Marietta Daily Journal when I put my reading glasses on I noticed the sections of the paper were really Public Notices for Foreclosures. There were a lot of sections to the newspaper and as I started going through the paper looking for the business section, sports, comics etc. To my surprise they were all just Cobb County foreclosure notices. 42 pages … (20 comments)
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foreclosures: Why Would A Bank Negotiate on a Foreclosure? Let the Government Take on The Bad Debts!
- 09/20/08 12:58 PM
I would like anyone one that works in foreclosures to keep an eye out for this situation. This weekend the US government is trying to put together a fix for the economy. In another Blog I wrote I mentioned in my comments a scenario. If a bank is negotiating with a buyer this week to sell a foreclosed home for 160K that is priced at 200K. If the government bails out the banks portfolio of bad loans. why would a lender negotiate with any buyer? It doesn't make sense if they can unload the whole ball of wax on the Federal … (20 comments)
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foreclosures: Georgia 6th in August Foreclosures Nationally!
- 09/12/08 12:53 PM
The latest Georgia foreclosures numbers have just been released by RealtyTrac and it shows Georgia is still in the top 10 states for foreclosures nationally. This month, we are number 6 with 8,755 foreclosure filings(comprised of - default notices, auction sale notices and bank repossessions.) 1 out of every 442 households in the state of Georgia is in foreclosure. That is not a great thing. Since our economy is based on a large portion of new construction, development and related streams of income, this is going to have a major impact on our state and local revenues. Anticipated taxes will not … (5 comments)
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foreclosures: Sorry No Foreclosures Here!
- 06/12/08 01:14 AM
Looking to buy a foreclosure homes in the Atlanta area? Too many have forgotten that the thing that most defines the value of real estate is location! This applies whether you are buying a home, condo or yes, even a foreclosed home in Atlanta. I guess the thing most potential foreclosure buyers do not understand that in the best areas in town, the ones that have the higher school performance scores, the shortest commutes, public transportation, and great housing...you will not find a lot of foreclosures. The demand is highest in those areas, and the prices hold up very well! Location, location, location! … (12 comments)
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foreclosures: Still Think It’s Smart to Buy without An Experienced Agent?
- 06/11/08 01:22 PM
Buying a home is an adventure of a lifetime for many! The buying and selling process for the last few years has been blown out of proportion and glamorized in America on TV shows, books and pop culture! However, reality is very different than TV shows. Not every home has thesame value or will appreaciate. 5 homes on the same street may all have a differnet price. Are all of the homes worth the same? On is on a hill, another in a flood zone, one is under high tension power lines, one backs to a road, and the other is on a … (17 comments)
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foreclosures: Seller Funded Down Payments in Trouble
- 06/10/08 12:17 AM
In a story in todays Wall Stree Journal is very tale teling on the state of our Federally insured mortgages. The article is entitled "FHA Officials Seek to Ban Seller-Assisted Payments" The reason? Thye are a liability, ans a risk especially when they are not repaid!! Seller Funded Down Payments now account for over 35% of all FHA loans. Unlike a gift to a child or relative, these loans are a few of the last no money donw deals left for willing buyers. The problem is they are risky, and the FHA now has to anticipate over 4.6 billion in unanticpated long term … (29 comments)
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foreclosures: Pre-Meditated Foreclosures - What Mortgage Lenders Knew!
- 05/16/08 02:01 PM
I attended a panel discussion the other day in Atlanta, and entered into several conversations with some attendees and panelists and I drew some interesting observations and conclusions. The reason many home owners with bad credit are currently in foreclosure is no surprise to anyone. How they obtained the loans was nothing short of pure evil and malice. With most sup-prime borrowers and stated income the ability of the borrower was clearly evident on the front side of the loan. They could not afford to purchase any home, but that is not a problem.
Unlike the old days in real estate where a … (14 comments)
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foreclosures: April Consumer Confidence Falls - No Duh!
- 04/29/08 04:12 AM
April Consumer Confidence Falls is todays's headlines. Are you surprised? I'm not! The price of a gallon of gas is about $2 a gallon more than I would like to pay for it. Every time I go to a restaurant I cannot help but notice that the prices have gone up. The result, I eat out less! In the supermarket I can spend $65 and ask myself "Did I buy caviar?" My next trip to the store, I will stick to my list, and forgo some comfort foods. If home prices are declining, and airfares are going up why would I not notice it? … (17 comments)
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foreclosures: Are Foreclosures Selling?
- 04/13/08 04:34 AM
I recently had a very interesting idea about foreclosures. Normally they are a great opportunity because they are perceived as sub-par or below market value. In normal times they are, but what happens when they saturate the market? Business is always guided by fundamentals f supply and demand. What happens to the market when too many foreclosures come on? Can they be absorbed? Here is my opinion! I don't think foreclosures are selling, and they are coming on at such an overwhelming rate they are not being absorbed!
Recently a friend of mine had to negotiate with an agent that was … (39 comments)
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foreclosures: Atlanta Home Owners - No Equity, No Money - What Options are There?
- 03/31/08 04:04 AM
We are getting more and more calls in the Atlanta real estate market to assist home sellers that do not have equity. Sometimes the terms the use are "pre-foreclosure" "foreclosure" "Short sales" but the reality is those terms are very specific! There could be many reasons for being in this postition. The Atlanta home owner may have purchased a home with no money down, or be in a loan that is adjusting from a teaser rate to a much higher monthly payment! They may not have fallen behind on the payments, but homeownership has become a major financial burden. They may have purchased the … (2 comments)
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foreclosures: What Will Improve The Current Real Estate Market?
- 01/07/08 03:44 PM
It is funny this year we have grandstanding for the next presidential elections taking place and no one is really addressing and issues that effect you and I in real estate. We are not foolish enough to belly ache about our own ccareers and brokerages. We do not have it as bad as many homeowners that need some type of relief! Home owners are going into foreclosure on mortgages they will never be able to repay, they have no reserves, and no one wants to talk about how to fix what isn't broke in with an upcoming election year. But the … (12 comments)
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foreclosures: National Real Estate Market Conditions | How's Your Real Estate Market Holding Up?
- 01/05/08 01:37 PM
I was curious to hear how are the real estate market conditions holding up in your market? In Atlanta real estate listing inventory has backed of just a little, but it is way too high considering the amount of sales that have fallen off. In December we had to re-list many of our listing because they expired. Some are now going into their third listing period with us. The sad thing is that our homes are priced exceptionally well, and have more upgrades than the competition at much higher prices. It is a little scary when they still do not get shown or get … (12 comments)
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foreclosures: 2008 Real Estate Predictions | Share Your Thoughts on Real Estate in 2008?
- 12/26/07 03:20 PM
With 2007 almost at a close, we all have a chance to reflect on the year and project where our business will be next year. Will work be easier or harder in 2008? Has the real estate market bottomed? Do we still have a way to go? When will the real estate recovery begin? Please answer all 10 questions
Mortgage Rates Lower or Higher? Credit Loosen or Tighten?Numbers of Agents in Your Market Up or Down?Real Estate Inventory Levels in Your Market Increase, or Decrease?Better Real Estate Market or Worse?Buyer's Market or Seller's Market?More Foreclosures or Less?Homes Sales Prices Flat, Rise, or … (24 comments)
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foreclosures: Laurel Springs Golf and Country Club Suwanee Georgia | Laurel Springs Home Sales - Market Report Homes Sold December 2007
- 12/26/07 11:44 AM
As of today December 26, 2007 there are 40 homes for sale in Laurel Springs Golf and Country Club in Suwanee Georgia. The most expensive homes for sale in Laurel Springs is priced at $1,249,000 . That is a 5 bedroom, 5 and 1 half bath stucco home with a 4 car garage and a finished terrace level with a media room. There is a wine cellarin the terrace level. The least expensive home for sale in Laurel Springs is priced $439,900 and is a 5 bedroom, 3.5 bath home on a slab. There is no basement. 3 homes sold in Laurel Springs … (0 comments)
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foreclosures: Good Will Time Of Year | No Foreclosures in December!
- 12/25/07 04:28 PM
There were a few articles I came across last week that indicated a drop in new foreclosures recently nationwide. They seemed almost relieved the numbers have dropped, but there is more to the scenario than meets the eye. To the uninformed that is true every year in real estate, foreclosure inventory declines towards the very end of the year. The reason is very simple. Banks do not like to create ill will within the communities they serve. If word gets out that BANK XYZ foreclosed on the Smiths and threw them out on the street two weeks before Christmas or New … (2 comments)
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foreclosures: Atlanta Expired Listings | How to Avoid Having Your Atlanta Listing Expire
- 12/07/07 03:04 AM
In the Atlanta area we now have twice as many homes expire each month than sell! In October we had about 3500 sales of single family homes in all of Atlanta on our FMLS. We also had 7000 expired listings the same month! There is no reason for this! This is not a good thing when a home does not sell. As market forces move, homes drop in value as the sit unsold on the market. Soem homes will even go into foreclosure when market value is less than owed by a seller, and an inability to repay becomes an issue. … (0 comments)
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foreclosures: Foreclosures Cobb County Georgia | Cobb County Foreclosed Homes for Sale
- 11/13/07 01:41 PM
There are a more Foreclosures in Cobb County Georgia today than in the past. Easy access to mortgages by marginally qualified borrowers... sub-prime loans made it too easy for some to buy into the American dream. For manyof those strapped home borrowers, the American dream hs become a nightmare. They can no longer afford to pay their monthly mortgage obligations, and their properties have reverted back to the lenders. The lenders then have to resell the foreclosed properties sometimes at deep discounts. One persons loss, has become anothers gain. Sad, but true, this is a major opportunity for home buyers. As of today … (0 comments)
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foreclosures: Forsyth County Foreclosures | Forsyth Georgia Foreclosed Homes, Bank Owned Properties for Sale
- 11/03/07 02:28 AM
There seems to be a lot more Forsyth County Georgia foreclosures today than in the past. As of today November 3, 2007 there are 49 Forsyth Foreclosures for sale, REOs, Bank Owned, and distressed properties for sale in our Atlanta MLS in Forsyth county Georgia.
There was a time a few years ago where Forsyth county Georgia was one of the fastest growing counties in the country. There are still loads of great opportunities for investors and homeowners that are looking for reasonably priced homes and properties. Forsyth Foreclosure properties may fit the bill for you. However, there are always some caveats … (2 comments)
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foreclosures: Gwinnett Foreclosures | Foreclosed Homes Gwinnett Georgia | Bank Owned
- 11/02/07 02:57 AM
Looking for foreclosures homes in Gwinnett county Georgia? Well as of today there are 508 foreclosed single family homes for sale in Gwinnett Georgia, and 60 Active foreclosed condos and town homes in Gwinnett. These are bank owned, corportate owned foreclosed homes for sale. There are loads of great opportunities for the serious buyer and investors. The foreclosed Gwinnett homes are bank owned foreclosures, REO, tax lien properties, and corportate owned. These Gwinnett foreclosed homes can be found in:
BERKELEY LAKE HOMESBUFORD HOMESDULUTH HOMESGRAYSON HOMESLAWRENCEVILLE HOMES LILBURN HOMESNORCROSS HOMESPEACHTREE CORNERSSNELLVILLE HOMESSUGAR HILL HOMESSUWANEE HOMES.
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foreclosures: Marietta Foreclosures Properties for Sale | Foreclosed Homes for Sale Marietta Georgia
- 11/01/07 02:38 PM
Are you a home buyer or investor looking for Marietta Foreclosures? Your search has ended! We have some great Marietta foreclosed homes and properties right here! In fact we have quite a few great deals! If you are looking for bank owned properties in Marietta, REOS, corporate relos, pre-foreclosures, distressed properties in Marietta then feel free to contact us if you need buyers representation. Marietta foreclosures, tax sales, bank owned, bankruptcy sales. Search Marietta foreclosures listings - Marietta Foreclosure real estate specialist for Marietta and suburbs. We've created a custom MLS search that will enable you to search for Marietta foreclosures … (6 comments)
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I was in the auto dealership today waiting on my car getting an oil change. I was passing the time watching a mindless channel on TV, and browsing stale People magazines. I picked up what I assumed was the local classifieds from the Marietta Daily Journal when I put my reading glasses on I noticed the sections of the paper were really Public Notices for Foreclosures. There were a lot of sections to the newspaper and as I started going through the paper looking for the business section, sports, comics etc. To my surprise they were all just Cobb County foreclosure notices. 42 pages … (20 comments)
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