by atlanta real estate on November 10, 2009
The real estate along with the rest of the nation has taken a significant punch to the stomach and now after two years hope prevails. In some areas of Georgia prices are slowly starting to stabilize and rebound.
Two years into one of the biggest depressions/ recessions in the world economy. Georgia home owners and Realtors are finally beginning to see the light at the end of the tunnel. Slowly the price of homes in the Atlanta market are slowly inching upwards. You are beginning to see very small steps forward in this market. Home prices have taken a big hit in the last two years taking dives down to 30 percent of highs two years ago. I do not see prices rebounding to previous prices for more than 3 to 4 years. Their is a possibility for a faster rebound if the economy goes through very fast and high inflation something good for the real estate market but a disaster for the health of the global economy.
So the hope is that the real estate market has finally reached bottom for the majority of the metro market. I believe we still will see price drops in the south Atlanta area as investors flee once promising areas such as College Park . Growth should be slow, it always has been in Georgia. I think for those who can hold onto their homes for a few years the rewards will be great. I think they should at least break even instead of being so deep underwater as many are today.
I also think it is a good time for investors to really start buying again . There is still a lot of fear out their about the economy and the state of real estate . This has always been the historically best times to buy. When everyone is in fear buy when everyone is celebrating sell.
Tell me your thoughts of when we will recover 2010 ++++ or sooner ?
by atlanta real estate on October 11, 2009
Hello ,
The real estate market is hard these days but you still can save your home or condo by renting it out or redoing your mortgage. I would advice anyone who is behind on their payments or believe they are going to behind to start contacting their mortgage lender today . I know a lot of you are afraid or overwelmed by the whole thing. Sleepless nights and high stress just makes things a lot harder. There is hope though.
Many mortgage companies are working with home owners to readjust their mortgage to a level where they can start paying it off again and get on the right track. You should weigh in all options and start gathering all your paperwork and finances no matter how bad they are.
If you believe you cannot do it yourself or just cant do it yourself there are people out there that can offer you real help. I would advice anyone who really needs help and cannot find a way to do it on their own to contact NACA.
In case you do not know, NACA is Neighborhood Assistance Corporationof America and all the services they offer are FREE . There is never any money that needs to be paid to them and they will be a middle man to help you negotiate your mortgage with banks and lenders. I personally know of 10 people who have went to NACA and their homes have been saved. This truly one of the great advocacy programs that our nation has and really are a group of hard working loving people who work hard to save your home.
I would never promote anything that would be a scam or not 100 percent free if it was not free. I do not know much about other ways to save your home but I do know that NACA saved my sisters home and my friends homes. For that I am so thankful and that is why it compels me to write this article. You should contact anyone you can that can help you out. If you can afford professional paid help then get it , if you cannot then go with NACA actually even if you can try NACA you do not have to fall with any level income to receive help.
Another option that is possible for you to do that I know that has helped people is renting out your home. If you can get enough money to rent your home for a year or longer so that you can get back on your feet then this is an other solid option. Now, you are going to have research what homes are renting for in your area, check some real estate websites and craigslist.com to see what people are asking for . If you belong to a home owners association you might have to ask them for permission to rent. Let them know it is for hardship reason. Then have a professional list your home , they will ask for a fee for this sometimes a months rent but everything is negotiable and dont be afraid to ask for a lower fee. Another way you rent your home is to list it yourself. You can list yourself in newspapers or classified ads online, sometimes for free. Craigslist offers free listings for home rentals and it does get lot of traffic.
Make sure your ad has lots of pictures and detailed features and information about the neighborhood and why it would be great for someone to rent it . Hit all the high points about your home and the area.
If you have any questions please comment below.
If you contact NACA and have success please let us all know but commenting below. I would love to hear some stories !
Good Luck to all of you !
