Atlanta Distressed Homes Continue to Influence Housing Market

By
Real Estate Agent with Atlanta Communities

Distressed property sales continue to be a major factor in Atlanta. As you can see from the chart below, 2011 saw a marked increase in Atlanta short sales and Atlanta foreclosures. An interesting point to note is that in 2011, short sales outpaced foreclosures in the last three quarters. This is what we’ve been expecting as banks have been working harder to get more homes sold via the short sale route rather than foreclosing on homes. A short sale is a win-win for both the homeowner and the bank and in most cases a much better alternative to foreclosures. One other statistic to note is the significantly higher number of Atlanta foreclosure sales in both the first quarters of 2010 and 2011 compared to all other quarters. Will be interesting to see if the trend repeats itself in the first quarter of 2012.

As noted above, distressed property sales (Atlanta short sales and foreclosures) amounted to 41.7% of all properties sold in metro Atlanta in the fourth quarter of 2011. And in general, we’ve seen the distressed sales numbers increasing. While at the same time, the percentage of active listings that are distressed properties is still quite a bit lower than the related sales numbers. What that tells us is that a higher percentage of distressed properties sell than their non-distressed counterparts. Seems logical. Distressed properties are priced aggressively. But the flip side to this is nearly 60% of all homes sold aren’t distressed properties. They’re homeowners just like you and I that understand that they have to be competitive in today’s market to get their home sold and are willing to stand toe-to-toe with distressed properties and show buyers why their properties are better.

The other point to take away from the chart above is that if inventory levels of distressed properties have doubled in the past year, expect to see a further increase in the percentage that distressed properties make up of all Atlanta homes sales in 2012.

Understanding the market in 2012 will be key to your real estate success. If you need assistance with an Atlanta short sale or are interested in purchasing an Atlanta short sale or Atlanta foreclosure, contact us today. We’ll be glad to sit down with you and strategize on the next steps. Rest assured, working with an experienced Certified Distressed Property Expert makes a big difference.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Georgia Fulton County Atlanta
Tags:
atlanta foreclosures
atlanta short sales

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
739,079
Ed & Tracy Oliva
West USA Realty - Arizona - Fountain Hills, AZ
The Oliva Team Arizona Agents

Distressed properties will continue to influence the housing market until they for the most part go away.   E

Jan 30, 2012 11:55 PM #1
Rainmaker
134,231
Marcia Kramarz
Re/Max Executive Realty - Medway, MA
CDPE,LMC,CBR

 I like the way you presented this info - a bit shocking but certainly tells a story - Thanks for sharing, I'm going to take a look at my market and pull together similar data -

Happy New Year - whatever 2012 brings - Our happiness should NOT be tied to what the economy is doing - Life is too short!

Jan 31, 2012 12:06 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
973,513

Aaron Hofmann

aka Mr. Smyrna Vinings
Ask me a question
*
*
*
*
Spam prevention