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Archive for the tag “short sales”

Should We Fear the Shadow Inventory ?

Predictions for housing in 2013 are bullish by most accounts.  That sounds like a fair assessment when supplies are low and demand is up in most market areas such as in Atlanta GA.Rear side of Providence Estate

Low inventory in good homes as well as geographic locations in close proximity to excellent schools drives housing desirability.  Here in Atlanta GA we are seeing “school flight” increasing demands on the Decatur City schools, while the city of Atlanta figures out the redistricting.  We see North Fulton and East Cobb county experiencing unusual demands on the low inventory, increasing the incidences of multiple offers on available “good homes”.

So what about the foreclosures and the short sale shadow inventories that haven’t hit the market yet?  How will 2013 shape up for the housing market in Atlanta and the rest of the country.  According the WSJ… the shadow inventory is overhyped as a housing threat.  The shadow inventory is shrinking.

Salem Dr  After photoAs a residential real estate specialist here in Atlanta I personally see evidence of  foreclosure homes being snapped up by the hearty investor appetite who are buying ‘to hold and rent’. Trimmed inventories and backlogs of investors are further reducing the discount of foreclosures due to competition.  While Atlanta’s market has liberal foreclosure laws (GA. is a non judicial foreclosure state) other states may experience a more difficult transition due to court-administered foreclosure processes to clear bad debt.

Where do you think we’ll be this time next year?!  Will our rear view mirror look back on 2013 as the year housing leaps forward or will the shadow inventory dampen our enthusiasm for the housing rebound?  My optimism tells me 2013 will be a banner year for most of us… most especially in our Atlanta market.  Don’t let the possible shadow inventory dampen your spirits!  Instead raise a toast to new beginnings… and let the New Year begin!!

May your 2013 be prosperous and filled with Joy!

How soon can I purchase a home if I sold a distressed house in the “Great Recession”? Read on….

Hi Everyone!  This chart may be very helpful to those of you out there that have sold distressed properties in the past few years but now are ready to get back into the market.  There are different guidelines dependent upon the type of distressed sale you closed.  CLICK ON CHART TO ENLARGE.
Compliments of Starkey Mortgage.

Interest rates are stinking low, hovering at 3.5% and it is becoming a Sellers market depending on what part of Atlanta you reside.  Now is the time to take advantage of these fabulous market conditions.  Rents are through the roof while home ownership is still a bargain.  If you are serious about owning a home again ~ let Starkey Mortgage and the WOW Team at Keller Williams First Atlanta be your HELP Desk for any Real Estate and Mortgage queries!

Pricing Right

Pricing Right    Homes Priced Right SELL!  Less overhead, less hassle and more $$$ overall than testing the market.  CLICK  pricing right, link above for more information.

The WOW Team at Keller Williams Realty 1st Atlanta

You don’t know where the housing bottom is until you look in the rear view mirror!

Looking in the rear view mirror~ ahh…. the market has finally turned!!

Ahhh… hindsight is everything!  They say we won’t know when we hit the bottom of the market until we look in the rear view mirror~  well look here!  I saw this moving truck today in my rear view mirror and had to laugh!  Yes, I think we have definitely hit bottom and we are now on our way back up!!!

~ A Mayflower Moving truck hauling down Hwy 400 in Atlanta GA.   WOW… I like this kind of “flower” blooming!

Typical to spring, the market heats up here in Atlanta,  but it’s been a long while since we have had listings fly off the market in record days!  The Under $200K category is strong.  Buyers are shying away from foreclosures and short sales due to the uncertainty of actually getting a contract to close!  It seems most foreclosure deeds are not of record, so closings are being delayed over and over again.  Buyers are frustrated.  Short sales are really long sales and unless a home is an “approved short sale” from the banks then you, the consumer may have months of waiting for the banks response on whether they accept or reject your offer.  Consequently those homeowners who have a non-distressed house to sell are getting great activity! If the house is staged well and maintained well, as well as realistically priced, then you can count on it selling within 45 days.  Yhea!!!

I had the good fortune to contract on 2 listings in the past 2 weeks before we could get them listed in the data base!  If you want more information contact the WOW Team of Keller Williams (#1 company in Atlanta)  We will help you SELL your home !

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