770-354-0243

fax 770-783-8896 / Email Me

Market Trends Category

Banks are short sighted on short sales

Sometimes the banks just make no sense.  That’s an understatement.  I have been handling quite a few short sales lately and have had a great success rate on approvals.  However, just recently we offered up a  contract with a buyer who was purchasing under their company name, the company was just them, but they are using the property for a place to stay when they are here on business, so that is how they are purchasing it.

After 60 days of waiting the bank said no, they won’t sell to a limited partnership. That’s their rule.  I plead our case, this is a cash offer, they will close quickly after approval, if you foreclose with the market  the way it is the bank will probably even get less money and it will be months instead of a couple of weeks before they have it.  No.  That’s it, just no.

So as a seller what are you supposed to do? Well you are at the mercy the bank for the approval so you just get that home back on the market and attract a buyer who is not a company to purchase it.  That is all you can do, it is still better for the seller to short sale their property instead of a foreclosure.

I can help you through the murky short sale waters out there,  the banks don’t seem to make sense but there are some consistencies in the process, call me today at 770-354-0243 if you are facing difficult times and may need to sell your home on  a short sale.  It is 40% of the market here in Atlanta right now, and it is a reality of what people are facing.  We can help you move through it so you can move on with your life!

 

Atlanta Home Prices fell to 1998 levels …..oh my goodness!

The Standard and Poor Case -Shiller is a resource that crunches numbers and delivers us stats based on those numbers.  They just came out with the most recent news that Atlanta has hit prices at 1998 levels!   Also down 34.8 % from the 2007 peak of the market . We are the second biggest decline next to Detroit of the 20 cities that they compiled the data on.  Atlanta has been one of the hardest hit in foreclosures and short sales with almost 60% of the market of homes sold in this category.

With that being said,  the buyers need to get off the fence and not wait around anymore, there has never been a better time to buy then now with the combination of interest rates and affordability

If you’re a seller and need to sell, there are pockets where inventory levels are low and buyers cannot find what they are looking for. This is good news for sellers.

If you have a good house, priced right, then you will sell and very often in less than 90 days.    There are pockets of areas where prices have done better than others, one being in East Cobb Walton, Pope and Lassiter school districts, also Alpharetta and Johns Creek and parts of Roswell.

Atlanta Journal Constitution just ran a story on January 31st relaying this news.  Read full  article here.

Whether you are buying or selling, call me today at 770-354-0243 or email me and we can discuss the best approach to reach your real estate goals!

 

Top 5 most expensive homes sold in East Cobb in 2011

The top 5 most expensive homes sold in East Cobb in 2011 fell in the most sought after school districts.  The most expensive sold for 3.75 Million, 2 million under it’s original list price. It was on the market almost 2 years.    A spectacular home located on Horseshoe Knoll on 4 acres tucked away in the heart of East Cobb in the Pope High School District.

The 2nd most expensive sold was a young beauty on Paper Mill Rd. It sold for 2,699,900–full list price! It was only on the market 3 days.  This home is located in the sought after Walton High School district and located on one of the most prestigious streets in East Cobb.

To take a peak inside these 5 lovely homes click here.

Call me today at 770-354-0243, or email me [email protected] for all the latest trends in YOUR neighborhood.

 

 

The old real estate adage..location, location,location

Many things have changed in real estate these days, but one thing has stayed the same.

 Location DOES matter.

Especially in East Cobb, but really this holds true in all areas of this local Atlanta market.If you have a home for sale in Walton High School district in an in demand neighborhood, you have a much larger buyer pool that will look at your house then if you are in what buyers “consider” not as hot of a school district.

If you have an in -town home in a desirable Atlanta neighborhood that is in great condition, in a hip area of town where people can walk to restaurants and parks, very little to no commute time for people working downtown or midtown than you also may have a home that is desired in ANY market, including a buyers market.

So don’t think just because this is a buyers market that you can’t sell your home fast and for good money, you may very well be in a “sellers” market in your local pocket area.

I have seen homes sell before they even go on the market publicly because they are in “hot” areas of town.

Give me a call today at 770-354-0243 if you are thinking of buying or selling, I can help educate you on what is going on in your local neighborhood.