Any additional information of the real estate marketâ€™s come back can be found on my blog:
John J. Reinhardt
Solid Source Realty
T (678) 310-9811
Housing prices may not have hit rock bottom yet. And when it does, stabilization period more likely to take place before prices will start going up again. Not going to happend this year for sure.
Here is some numbers for Metro Atlanta: http://www.atlantarealestatemarketconditionandtrends.com
Like it wasn't enough already, last week, the Obama administration called for gradually raising down payments to a minimum of 10% on conventional loans, meaning those that can be bought or guaranteed by mortgage giants Fannie Mae and Freddie Mac. And mortgage data show that private lenders are already pushing sharply higher the required down payments, mainly to mitigate their risk as home prices continue to fall.
For a seller it simply means less buyers' traffic at the door. Whatever your goals and time frames are, hope you have a professional specialising in your area to help you with this decision.
We are a professional short sale service and would be happy to explain the process to you. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.
Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states
Not necessarily Milton and East Cobb, not necesssarily downtown Decatur, and not necessarily other hyperlocal submarkets, but many, many zip codes are in continued distress. 3-5 years of where distressed sales will rule the submarket.
Read the most recent article that I wrote on my site at the web reference - one of the stats that I quote is that 66 % of all recent purchase and sale transactions nationwide are not distressed...
Ask a local real estate pro their opinion.
The rate of foreclosure at this time is directly linked to unemployment at this point. 99% of the people who bought in over their heads or took out bad loans are behind us. Now we are seeing foreclosures forced by people who have lost jobs in the ailing economy and have run out of resources to pay their mortgage.
As the economy grows the foreclosures will get back to a "normal" rate.
Be positive - we should all be positive and responsible consumers and this country will get back on its feet soon.