Market Conditions in 30310>Question Details

Sue, Home Buyer in

Have sales started to increase in the 30310 zip code?

Asked by Sue, Sat Mar 14, 2009

I am trying to get more insight on if some of the excessive foreclosures in the 30310 zip code are being bought.

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From what I have seen (I have 2 homes for sale in 30310) the foreclosures are still moving, but retail for owner/occupants is still slow. Seems like most buyers are investors buying the properties cheap to rent out. Not much moving over $100K. Good luck!
0 votes Thank Flag Link Sat Mar 14, 2009
From what I've seen this is one of the most depressed markets in the area as far as value. Tons of foreclosures with many due to mortgage fraud. The absorbtion reports for that area show an average of 45-50 months of inventory. Yes that is right almost 4 years of inventory. There have been 118 homes close in this zip since January 1st, 2009 usung FMLS data. All of last year, there were 992 sales. There are currently 1,351 properties on the market. Hopefully this gives you a little more insight.
0 votes Thank Flag Link Sat Mar 14, 2009
Sue, as a whole prices have gone up in the last 6 months 2.7% according to Trendgraphix. I can give you more details if I know more about price range and the exact location. I could help even more if I had your subdivision / neighborhood name.
Web Reference: http://robertrainbow.com/
0 votes Thank Flag Link Sat Mar 14, 2009
Yes. Investors have entered the market since there is great inventory and low interest rates. In fact, on March 4th I sent one investor 37 investment possibilities in area code 30310. Today, March 14th, 9 of those properties are Under Contract. And a few more have offers on them.

Scott Askew
saskew@askew.com
Fourteen West, REALTORS & Askew Realty Co.
404-874-6357 770-434-8580
0 votes Thank Flag Link Sat Mar 14, 2009
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