The Atlanta Buyer’s Market

December 31, 2007

Everyone knows that we are in a Buyer’s market. You hear about it on the network news and read about it in the Atlanta paper…. in the Atlanta area we are in a Buyer’s Market!

One of the big brokerages has billboards around Atlanta which show how many homes are on the market today. It was up to 109,000 about a month ago and now it is down to 101,000. You will normally see it refresh and have the numbers change as you drive by. It catches my attention every time I drive by! The company is attempting to advertise the web search tool that they offer, but in my opinion, the only message it is really sending is that there are a boatload of houses for sale today in Atlanta Georgia!

I think the billboard undermines any feelings of optimism that may be brewing out there and they may be turning more Buyers off than they are turning on! 

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Posted by danconnolly | Filed Under General Real Estate Info 

Candler Park Market Report

December 20, 2007

I saw something interesting while looking at the sales for the last 12 months (12/20/2006-12/20/2007) in the Candler Park neighborhood. We have exactly the same number of sales that we did in the period from 12/20/2005-12/20/2006. There were 51 sales listed in the FMLS during both 12 month periods. That kind of disproves the theory that the market has softened this year!

Right now there are 22 properties on the market and 4 of them are under contract. They range from $299,000 to $949,000 and the average price is $526,888! This is the first time in a few years that we have seen some homes sell around $300K or less, but there are more homes selling at the top of the range than ever (mostly new construction) so the averages have been going up. 

 If you are interested in living in this neighborhood you can see what’s for sale on my Candler Park page and I would be happy to show you any that look interesting. I have been living in this great area since 1991 and think it’s Atlanta’s best neighborhood!

Posted by danconnolly | Filed Under Candler Park 

$100 Down Payment for HUD Homes

December 3, 2007

HUD homes continue to be a bargain for owner occupants with the $100 down payment option available on all properties beginning with the extended listings on October 5 2007. Then the properties listed on the General List (Owner Occupant preference) after October 10, 2007 are also eligible. This applies to the insured properties and the uninsured IF the buyer is using the FHA 203K loan to purchase! This is a program available to Georgia residents, and they must be owner occupants. One restriction on the program  is that if the homeowner bids over the appraised value, then they must bring the "overbid" amount to the closing.

 If you want to see what HUD homes are on the market look at my Atlanta Foreclosure page and you will see a link to HUD homes near the bottom of the page. While HUD homes are listed by Realtors and are in the lists of foreclosures that you can search by neighborhood, the only way to get an up to the minute accurate look at what is available is to go to the HUD site. Properties will still show active on the MLS when they are actually under contract. If it is on the HUD list, they are available!

If you find a home you want to see or bid on call me. You must have a registered HUD broker to make a bid and if you forget my phone number just call 770-HUD-HOME and you will find me! 

Posted by danconnolly | Filed Under Foreclosures 

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