Amazing Story in These Not so Amazing Times

I was calling to show some houses last weekend and, I happened to call an agent that had a property listed with some legal issues. The owner had been in a car accident. The owner who was an attorney lost his job tried to refinance his mortgage, however the bank didn't get back with him in time. His house was then sold on the court house steps. The lawyer of the subject property took on the bank taking them to court for negligence. The bank never responded to his request to refinance. The bank couldn't produce the original paper work from when he bought the house. The judge was so furious with the mortgagee company for not letting the owner refinance that he declared that if they were not able to produce the original paperwork by Nov 19th That the attorney would get his house back FREE AND CLEAR. To be continued....

This picture above is not the one mentioned in the story.

How will the forecloser freeze impact you?

A government mandated foreclosure moratorium would take about 20% of homes available off the market. I say less competition for the seller and their homes might sell, but for the buyers reduced inventory means time to buy before the prices increase. However; due to the reduction of inventory people will slowly see the prices go up. It comes down to supply and demand, and I don't think I need to cover that.

How will this effect things to come. Some experts me included think with this reduction of foreclosed homes it will only delay the inevitable . Until we can eradicate the foreclosures looming over the housing market it will not be a normal. Whatever that might look like after the fallout.

A buyer might be tempted to wait until they can see everything that is available and everything that might become available. By waiting a buyer could miss a very good buying opportunity. One may never be able to pick the abosolute bottom. Many sellers are ready to sell and are just looking for an offer.

If you like the house,property or deal. Buy it now.

How to Buy Real Estate in Buckhead

I see this repeatedly. I meet with a person interested in buying who has a price they are willing to pay. However, some important factors are missing. In such occasions people are overlooking value. Buying should be a calculated, precise decision, not made lightly.

Some people fail to realize the investment they are making. One should put more time when buying a property than before buying a stock or a mutual fund. When buying a stock, one should look at the past value, present value, and projected value of the company before making a decision.

So, how does one figure out the past value or the present value of real estate? In order to figure out a property's value one must make a comparison with that area, but an investor would encounter difficulties with comparing because some houses in an area are larger and nicer. I make comparisons based on what sells in a particular area.

One can obtain help with the process for free by going to my website, calling me, or emailing me. Once discovered, the average going rate for a house in a particular area makes it much easier to figure out which are the good deals. Remember, just because a house seems overpriced at first does not mean you should abandon hopes. Negotiations are possible.