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Helen Ga Real Estate "Foreclosures a thing of the past?"

By
Real Estate Agent with No. Georgia Mountain Realty

If you have been listening to the news, the lending institutions are gearing up to help the homeowner in distress so they will not have to foreclose on these properties.  This will change our market in all probability.  If you are a prospective purchaser and have been thinking about picking up a foreclosure or two, you might want to hurry!  It seems the lending institutions will have a change of heart here and start helping out the homeowners instead of taking back the homes.  This will certainly have an effect on short sales and foreclosures and consequently bank owned properties.  Now Foreclosures, short sales and reos have been a lucrative market for some in the past few years.  We have agents who specialize in these sales.  We have companys who charge big bucks to train agents to get and sell these properties.  We have attorneys who specialize in these proceedings.  We have investors who thrive in picking up these "deals".  We have contractors who purchase these properties at a low price and use their sweat equity to fix up and resell these properties.  We have internet sites that deal only with these homes.  We have auctions and people coming from all over to purchase a 700,000 home for 250,000.  If the lenders to what they say they are going to do, help out the owners with affordable loan rates, there will be great changes all across the board.  Once this starts it will be too late to get in on the "deals".  Then comes the domino effect...sellers who were not quite ready to lose their homes or investment properties begin to rethink their positions.  They decide that perhaps their homes are worth a little more, so they are not so willing to negotiate...after all their chief competition, the foreclosures are not so plentiful...and so it goes.

Yes, there will always be foreclosures, Virginia!  But no the prices will not be as good as they are now.  If you want to purchase a property in Helen, Lake Burton, Sautee, Batesville, Cleveland, Clarkesville or any other northeast Georgia area, now is the time.  Contact me for more information, Flynn@FlynnTaylor.com, or visit my site www.FlynnTaylor.com.  Hope to see you soon!

Comments (1)

Mobile Austin Notary
Apostille/Authentication/Embassy Legalization, Notary Public, Loan Signing Agent & Process Server Services - Austin, TX
www.mobileaustinnotary.com

I love hte auctions!

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Nov 29, 2008 01:31 PM