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Metro Atlanta Real Estate Advisor

Resource for Buyers/Sellers in Jackson, Hall, Gwinnett, Oconee, Clarke

By Hank Bailey | Agent in 30019
  • When Buying Gainesville Foreclosures, Look at Discount to Market Value, not List Price!

    Posted Under: Home Buying in Gainesville, Foreclosure in Gainesville  |  August 22, 2011 8:40 AM  |  2,989 views  |  No comments

    Saw the following interesting chart today regarding Gainesville, GA current real estate listings on Yahoo Real Estate. 


    Source Yahoo Real Estate

    This shows list price versus list price on all homes for sale versus bank owned foreclosures currently on the market in Gainesville, GA. It also shows us that bank owned homes or REOs are listed for about 75% of what the overall market is listing a comparable home for in Gainesville, GA.  Why is this statistic important?  I speak to Buyers on occasion who have felt insulted at times that a bank did not want their offer, we are in a buyer's market you know, and at other times have also not taken advantage of a good foreclosure purchase because they didn't want to pay 'too close' to list price thinking that beating up on 'list price' was the goal.

    I have said it a hundred times just in the past week alone I would bet you, we don't care about list price. We care about being below market value.  If bank list prices are already a quarter below the market, then if we get a contract on a house for 90% of list price, this is a good day!

    RealtyTrac and others in the media are really good about stating that the average foreclosure discount is 32%, 35%, 37%, and higher in some states!  What they are always referring to if you note the fine print is that the average foreclosure sale is roughly a third (give or take) lower than the average overall sale in that specific market.  Not a third off list price, but a third or more off the average sales price.

    Let me encourage you not to get perplexed if your Realtor comes along telling you that you need to think about paying 'highest and best' in a multiple offer situation necessary.  Don't over analyze if Fannie, Freddie, or HUD comes back with a counter just a few percentage points off their list price!  In golf they say that over analysis leads to paralysis, and I would throw in too not to have your sights on the wrong target! 

    Both may cause you to miss a good thing!
  • Gainesville, GA; Named one of America's Best Places to Live

    Posted Under: Home Buying in Gainesville, Foreclosure in Gainesville  |  September 14, 2010 8:01 AM  |  1,699 views  |  No comments
    Named one of America's Best Places to Live by Livability.com,and located on the serene shores of Lake Lanier as well as the foothills of the Blue Ridge Mountains, Gainesville, GA is both an economic center for Northeast Georgia as well as an outdoor playground!

    From a growing economy to cultural activites and events, and finally to top notch Hall County schools, Gainesville is known to be in a prime location for outdoor living, as well as a strong sense of community!

    Hall County, GA Foreclosures, REOs, and Bank Owned

    Hall County, GA; Georgia, bank owned properties including Gainesville and Flowery Branch, Ga: Gainesville and Flowery Branch bank owned homes offer the most valuable Gainesville and Flowery Branch bank owned foreclosures in Hall County. Search Gainesville and Flowery Branch bank owned properties, foreclosures, and REOs.
  • Recent Hall County Foreclosure Stats

    Posted Under: Home Buying in Gainesville, Foreclosure in Gainesville  |  September 2, 2010 4:22 AM  |  1,466 views  |  No comments
    According to RealtyTrac, the most recent foreclosure stats for Hall County are as follows;

    1 in every 224 housing units received a foreclosure filing in July 2010.  Gainesville had 188 of the 294 foreclosure fillings in Hall County for the month of July with Flowery Branch having 59. 

    Hall County's
    foreclosure rate as compared to state and national averages shows that by taking the total number of homes receiving filling notices in July and dividing this by the total number of homes we find that Hall County's foreclosure rate is .45% as compared to Georgia at .32% and the U.S. at .25%.  The indicated trends show that foreclosure fillings are still Rising in Hall County as well.

    Where in Hall County do foreclosures represent the biggest savings?  In Gainesville the average foreclosure sale represented a savings of almost 20 percent from the average sales price of a non-distressed property sale in the month of July.

    How do average sales prices and average foreclosure sales prices differ in Gainesville, GA?  They differ by $30,436.  Foreclosure, REO or bank owned purchases, are truly where the value is in today's home market. 

    Flowery Branch Foreclosures Priced $250k-$500k


    Flowery Branch Foreclosures Under $250k
    Gainesville GA Foreclosures Under $250k
    Gainesville GA Foreclosres Priced $250k-$500k
  • New Hall County Bank Owned, REO, Foreclosures; Locate them!

    Posted Under: Home Buying in Gainesville, Foreclosure in Gainesville  |  August 31, 2010 12:42 PM  |  1,472 views  |  No comments


    New bank owned REO listings in Hall County, GA. Some nice areas such as Crestview Heights, Lenox Park, Chicopee Crossing, Marina Bay, and Overlook North Hall.  Please let me know if there is any additional information I might provide as an REO resource in Hall County.  

    You can go get in a round of golf, spend a day at the lake, enjoy a nice dinner out, and visit friends and family while Listing Book does the work for you. That’s right, once you setup your FREE ListingBook account Listing Book will do all of the house hunting for you 24/7. It will update you in a morning report with all new listings and price changes. No more driving around neighborhoods and hoping your Realtor isn’t missing any new listings. Sign up for you FREE Listing Book account in Listing Book today!

  • Creating More "Raving Fans" in Gainesville, GA; an REO Buyer Testimonial

    Posted Under: Home Buying in Gainesville  |  August 25, 2010 8:43 AM  |  624 views  |  No comments
    Regarding the Purchase of a Bank Owned REO, foreclosure, in Gainesville GA;

    "As I sit here sipping coffee and looking out the window into the beautiful woods that make up my back yard, I am truly humbled and blessed reflecting on the journey that brought me here. As a single mother of three, taking this leap of faith to move from the only home my family has known was quite overwhelming. From the beginning, Hank provided a sense of calm with his knowledge of the housing market and all the things that it entails.

    He is truly amazing at his job. He has an incredible ability to make someone feel as if they are his only client. He is well informed and bends over backwards to keep you, his client(s) that way. I felt that he put me, my desires and best interest first and foremost in this entire process. All while managing a family of his own. Hank is a man of integrity and he is a blessing to so many. I will always consider him a dear friend. By the way, did I say, I absolutely love my new home!!!

    Jamie Quinton
    Gainesville, GA


    www.hankbailey.prudentialgeorgia.com/hall-county-ga-foreclosures-reos-bank-owned.aspx
  • Another "Raving Fan" created from my REO Buyer's Services; Gainesville, GA

    Posted Under: Home Buying in Gainesville  |  July 30, 2010 10:37 AM  |  616 views  |  No comments
    "You truly have done an amazing job!! I am overwhelmed when I think of all the time and energy that you've poured into the service given me. I don't know how you keep up! I can and have done nothing but sing your praises. I appreciate all of your wisdom and advice that derives from it. You truly have been quite impressive."

    Sincerely,

    Jamie Quinton



    Hall County, GA Foreclosures, REOs, and Bank Owned

    Hall County, GA; Georgia, bank owned properties including Gainesville and Flowerly Branch, Ga: Gainesville and Flowery Branch bank owned homes offer the most valuable Gainesville and Flowery Branch bank owned foreclosures in Hall County. Search Gainesville and Flowery Branch bank owned properties, foreclosures, and REOs.
    Hall County Ga Short Sales
  • Hall County, GA (Gainesville and Flowery Branch); Foreclosure Trends

    Posted Under: Foreclosure in Gainesville  |  July 28, 2010 6:34 AM  |  702 views  |  No comments



    Hall County, GA Foreclosures, REOs, and Bank Owned

    Hall County, GA; Georgia, bank owned properties including Gainesville and Flowerly Branch, Ga: Gainesville and Flowery Branch bank owned homes offer the most valuable Gainesville and Flowery Branch bank owned foreclosures in Hall County. Search Gainesville and Flowery Branch bank owned properties, foreclosures, and REOs.
    Hall County Ga Short Sales
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