December 31, 2008
The Atlanta Foreclosure Market Evolves and THE END IS NEAR!!!
The Atlanta Foreclosure Market Continues to Evolve and Sellers Rejoice!!
Wow! More and more great news keeps hitting the airwaves. We’ll, I guess that depends on who you are in the process….
If you are an Atlanta Home BUYER, or looking for an Atlanta Foreclosure or Atlanta Short Sale, you can benefit from the low, low 4.8% rates, a decent amount of inventory, and one of the last pivotal moments in buying history. HOWEVER, these moments WILL NOT last.
I had a personal conversation with the TOP bank-owned and REO closing attorney in the nation this week who said that he has never seen the amount of foreclosures to hit the airwaves in 2008. BUT that we will see about 50% less foreclosures on the market in TWO MONTHS!!! Talk about a drastic change. I’m already started to see the effects. So, those sitting on the fence (if you haven’t already been looking for a great deal) will be stuck in a highly-competitive situation because they waited until masses started buying again.
For Atlanta Home Sellers, the good news continues on….As properties continue to be absorbed and with the grants that were recently awarded to Fulton and Dekalb counties, supply will continue to diminish as buyers start buying again. Ask any mortgage broker you know, mortgage applications TRIPLED in the last two weeks. Furthermore, because of the low rates, buyers will be able to increase their purchase prices which will bring more buyers to your doorsteps.
For Atlanta Home Auctions, you will see less and less business as sellers’ books start to clear, the need to auction a property will no longer stand. I am already seeing auctions feeling the squeeze as banks are now REJECTING offers that were negotiated at the auction house because they don’t have such a high need to dump the product.
If you haven’t already read my blog about Atlanta Home Auctions, please do so.
So, all around things are looking up, except for auction houses. But, don’t take my word for it, listen to what the Cramer has to say!! It’s 11 minutes, but its worth it!!!
http://www.cnbc.com/id/15840232?video=967866479
And, if you are ready to capitalize on the BEST buying time in a LONG time, call me and let me show “you the money.”
THE END IS NEAR…..VERY, VERY NEAR!!!!!
Winter Baserva's Atlanta Real Estate Weblog 