Archive for June, 2011

New Case Shiller Index shows real estate prices rose nationally and in Atlanta

Wednesday, June 29th, 2011

This month the Case Shiller index showed a slight increase in real estate prices and this was the first increase in eight months.  Don’t get too happy as there are plenty of negative details in the report as well.  For instance, spring is a buying season when we see more families buying larger homes.  These […]

Trying to get a Loan Modification ?

Tuesday, June 28th, 2011

This article from MSNBC really illustrates well the difficulties dealing with banks on loan modifications.  I’ve helped clients with short sales and this story sounds all too familiar.  Banks asking for documents, then asking for the same documents, then dragging their feet for so long that you now have to send them updated documents because […]

HSBC Foreclosure Problems

Monday, June 27th, 2011

What’s up at HSBC.  In March HSBC lost a mortgage case in Maine in this case where documents were signed improperly.  (that’s a very kind version of events)  HSBC put a moratorium on foreclosures at that time.  Now I’m hearing anecdotal evidence that HSBC has stopped some sales at the last minute in Atlanta.  Are […]

Shadow Inventory in Atlanta

Saturday, June 25th, 2011

As realtors and as buyers and sellers we’re always trying to predict the market.  At times this is easy.  Other times not so much!   One factor affecting today’s market is the so-called shadow inventory.  The estimate of shadow inventory includes all 1st lien loans in the foreclosure inventory and a share of delinquent loans anticipated […]

Mortgage Rates still Ultra – Low says Bankrate

Friday, June 24th, 2011

       According to this article in Bankrate, mortgage rates mostly remained unchanged this week.  They called them ‘ultra-low’ and that’s a fitting description.  It’s part of the dilemma of todays real estate market, here in Atlanta, and across the country.  Buyer’s are squemish about buying.  Many are thinking that prices may drop further so they’re holding […]

Metro Atlanta jobless rate stays high.

Thursday, June 23rd, 2011

The unemployment rate in Metro Atlanta isn’t improving and came in at 9.7% today.   The actual city of Atlanta rate is 10.6%.  This from an article today in the AJC that you can read here.   We can debate the reasons but this blog is real estate focused.  Continued unemployment and anxiety about staying employed keeps […]

Cash buyers are king in this real estate market

Wednesday, June 22nd, 2011

            This article from USA Today highlights how many homes are being sold for cash now.  I think this article shows why we’ve hit a floor in pricing in Atlanta.   I’m seeing investors looking for cash flow (many foreign investors in this market), and investors that rehab and flip are […]

Ugh, Home sales fall again

Tuesday, June 21st, 2011

Nationally home sales fell again according to the National Association of Realtors.  The article goes on to say that first time home buyers are declining.  However, here in Atlanta I’m seeing a lot of first time home buyers.  That’s probably because A) as far as large cities go, Atlanta is a relatively cheap place to […]

Foreclosures in Atlanta drop a fourth straight month

Wednesday, June 15th, 2011

  Foreclosure numbers nationally have been tough to read.  Recently when foreclosures have dropped it’s been hard to know if it was due to the banks’ moratoriums due to document problems or if just fewer people were facing foreclosure.  But Georgia is a non-judiciary state meaning that banks don’t have to go to court to […]