Real Estate Facts & Stats

Email the Author: Brad Nix, Managing+Broker
Posted: September 15th, 2008
Category: real estate news

Recently, the Georgia Association of Realtors magazine published statistics from RealtyTrac and the 2008 NAR Member Profile, here is a summary of the findings:

Georgia ranks 8 out of 50 states for foreclosures.
Your home will double in value on average every 10 years.
(I have hard time believing this one, but that’s what it says)
The average age of a first time home buyer is 34.
The average home owner’s wealth that comes from their Home’s equity is 60% of net worth.
Foreclosures increased 112% from 2nd quarter 2007 to 2nd quarter 2008.
2007 was the fifth best year on record for existing home sales.
The average net worth of a home owner is $171,000 vs $4,800 for renters.

If you are considering becoming a part of these statistics, not the foreclosure stat, then contact us today for specific market reports about the North Atlanta Real Estate Market.

Discussion: Comments

Real Estate Market Cycle Video

Email the Author: Brad Nix, Managing+Broker
Posted: September 13th, 2008
Category: Market Reports, real estate news

As real estate agents, we are constantly asked… how did the housing market collapse? why is taking so long to sell me house? is this the first time we’ve had a housing crash? when will it rebound? While we love to answer these questions and encourage everyone to ask more by contacting us here, I thought it may be worth having our readers watch this video produced by John Burns Consulting for the builder industry. It’s a long cartoon, but is a great illustration of real estate cycles. Thanks to Bob Schenkenberger for tipping me off to this video in his post about how Explaining the Market is much easier than Timing the Market.

Discussion: Comments

So you want to become an Investor with Atlanta Foreclosures…

Email the Author: Maxsell Real Estate,
Posted: September 12th, 2008
Category: Atlanta Real Estate, Foreclosures/Short Sales, Real Estate Finance

Atlanta Real Estate Investment Resource Foreclosures

In the past year alone, the number of Atlanta GA homes that have been foreclosed upon has increased. If you previously have been toying with the idea of getting into the Atlanta Real Estate Investment market, now is a good time to do so with the foreclosures that are happening in the area.

You may be thinking of taking advantage of the deals that can be had with the Atlanta Foreclosures. Keep in mind, though, that a lot of people have also been jumping into the fray, so you need a plan of action and ready to act when you decide to work the Atlanta Foreclosure market.

The success of your Atlanta GA real estate foreclosure business mainly hinges on the rate at which you purchase Atlanta homes at bargain prices and then turn them over for a profit. The old saying “Buy low, sell high” has never been truer.

Finding those Atlanta Real Estate Deals

To help you make good deals in the Atlanta real estate foreclosure market, below are a few tips:

Be ready to offer a solution to the Atlanta homeowner in crisis. Atlanta houses are about to be foreclosed are facing a tough financial crisis. They are looking for solutions.
Consider the Atlanta homeowner’s situation. There are cases when a Atlanta property may be in a less than standard condition and the homeowner’s foreclosing date is fast approaching.
Obtain pre-approval from your Atlanta Mortgage Professional. This way you are ready to close quickly, which will be desirable to the troubled Atlanta homeowner.
Do your homework. Ensure a good and profitable purchase of a Atlanta property by first doing your homework. Research the market, know what is and is not selling and understand successful selling strategies. Remember your goal is to ultimately turn over the Atlanta home for profit.
Think like an Investor - Be ready to act when a deal appears, because you are not the only one looking.

Although many competitors and 1^st time home buyers are entering in the Atlanta real estate foreclosure market, making a profit in the business will depend on your ability to think of this as a business and not get emotionally attached to the Atlanta homes. Your success is dependent on your ability to look at the numbers and base your decisions on the potential profit. Don’t forget that there could be repairs or other expenses that may affect your profitability. It is important to approach the Atlanta Foreclosure market well researched to be successful.

Discussion: Comments

Fannie Freddie Bailout Reviews

Email the Author: Brad Nix, Managing+Broker
Posted: September 11th, 2008
Category: Real Estate Finance

Thanks to Bob at Get Home Denver for the video tip.

We all have heard about the Fannie-Freddie Bailout, but what does it mean?

Benefits of Fannie Freddie Bailout

Jeff Corbet of AgentGenius listed 5 potential benefits of the bailout:

Lender balance sheets will be cleaned up and thinned out.
Mortgage rates and fees should get cheaper as a result.
Mortgage paper will be turned into Federal paper, establishing much needed confidence from foreign investors. Its a global market, keeping foreign investment money flowing through our economy is vital to its existence in 2008 (and going forward).
Federal paper will allow borrowers to potentially ‘work out’ their delinquent loans with far more flexibility than they could with lender owned mortgage paper.
Reduction of Wall Street volatility in what has historically been a stable segment of the bond market. Consumer confidence needs to be restored to the mortgage market, volatility and consumer confidence usually don’t coincide with each other.

Wall Street

Dan Green of The Mortgage Reports had this to say about how Wall Street views the move…

“For years, Wall Street endured Fannie Mae’s accounting issues, leadership scandals, and weak balance sheets, knowing that the mortgage group’s parent was just a cab ride away. Wall Street harbored a deep-seated belief that should things get really bad for Fannie Mae, the government would step and take over. And, that’s exactly what happened.”

Then the Wall Street Journal says intervention ain’t what it used to be:

“Government intervention is losing its market mojo.

The one-day stock rally sparked by the rescue of Fannie Mae and Freddie Mac was quickly erased Tuesday, drowned out by fresh worries about Lehman Brothers Holdings.”

Do you have any thoughts on the take over?

Discussion: Comments

Atlanta’s Fastest Growing Counties

Email the Author: Brad Nix, Managing+Broker
Posted: September 11th, 2008
Category: Atlanta Real Estate

The Metro Atlanta Chamber of Commerce recently released some impressive statistics. Of the 100 fastest growing counties in the country, 70 were in the south and 18 of them are in Georgia (more than any other state in the country).

County	2007 Pop. Est.	2006 Pop. Est.	Change	Percentage Change
Forsyth	158,914	148,307	10,607	7.2
Paulding	127,906	119,859	8,047	6.7
Jackson	59,254	55,542	3,712	6.7
Barrow	67,139	63,173	3,966	6.3
Newton	96,019	90,728	5,291	5.8
Cherokee	204,363	194,082	10,281	5.3
Walton	83,144	79,081	4,063	5.1
Henry	186,037	177,436	8,601	4.8
Douglas	124,495	118,835	5,660	4.8
Hall	180,175	172,391	7,784	4.5
Pickens	30,488	29,232	1,256	4.3
Coweta	118,936	114,178	4,758	4.2
Gwinnett	776,380	749,836	6,544	3.5