Atlanta Real Estate Investor Blog » Market

Atlanta luxury homes taking a beating

admin — Thu, 08 Oct 2009 15:00:41 +0000

According to Trulia, Atlanta ranks 17th in the nation in the number of luxury homes (those originally listed at two million dollars and above) experiencing price reductions. 29 percent of homes have had their listing prices reduced, with an average reduction of 11 percent.

The total amount of reductions is $190,220,820.

Harlan and Associates performs real estate closings in Georgia. Want to know more? Contact us and we’ll be happy to discuss how we can be of service to you!

Day 25/365 “K.O.” (Explore!), originally uploaded by jp3553.

Atlanta home prices up in July

admin — Tue, 29 Sep 2009 15:45:17 +0000

Once again, the S&P Case-Shiller Home Price Index is showing broad-based improvement in home prices across the country.

The 10-city Index increased 1.7 percent in July, and the 20-city Index was up 1.6 percent. Both were down over 12 percent from July 2009, however.

In Atlanta, prices increased 2.3 in July, but remained 11.8 percent below last year.

It’s the fourth-straight month of price appreciation for the city.

Harlan and Associates performs real estate closings in Georgia. Want to know more? Contact us and we’ll be happy to discuss how we can be of service to you!

untitled, originally uploaded by max_level.

Existing Home Sales Slip 2.7%

admin — Thu, 24 Sep 2009 19:04:05 +0000

Existing home sales, which had risen for the past four months, slipped 2.7 percent in August, according to the latest report of the National Association of Realtors.

Still, the number of sales was 3.4 percent above last year.

Credited for the slide in sales were higher mortgage rates, which on average were over a percent higher in August than July.

Home sales had shown relative stabilization in the four months prior to August, mostly because of the $8,000 federal tax credit for first-time homebuyers. However with that credit set to expire on November 30th, home sales may end up declining again.

In the South, existing home sales were down 3.1 percent for the month, but remained 1.6 percent above last year. The median price of a home was $157,400 – an 11 percent drop from August 2008.

We’d love to be your Atlanta real estate closing attorneys. Want to know more? Contact us and we’ll be happy to discuss how Harlan and Associates can be of service to you!

A Date with Destiny, originally uploaded by luvpublishing (in SLC for a few days).

Georgia ranks 7th in foreclosures

admin — Fri, 14 Aug 2009 01:53:23 +0000

For the third month in a row, Georgia held the position of having the seventh-highest number of foreclosures in America, according to RealtyTrac’s latest foreclosure report.

The state had 11,136 foreclosure filings in July. That’s up 10.7 percent from last year, but down a whopping 20.6 percent from last month.

Georgia has comparatively speedy foreclosure laws, and lenders are able to foreclose on Georgia properties much more quickly than in other states, perhaps leading to the recent decline.

Nationwide, foreclosures were up 7 percent from last month, and 32 percent from last year.

We’d love to be your Atlanta closing attorneys. Want to know more? Contact us and we’ll be happy to discuss how Harlan and Associates can be of service to you!

7, originally uploaded by billpan45.

Clermont Hotel faces foreclosure

admin — Tue, 23 Jun 2009 19:23:03 +0000

According to the Atlanta Business Chronicle, the iconic Clermont Motor Hotel is facing foreclosure.

Say it ain’t so, Blondie!

We’d love to be your Atlanta real estate lawyers. Want to know more? Contact us and we’ll be happy to discuss how Harlan and Associates can be of service to you!

Clermont Lounge, originally uploaded by atomicvixens.

Atlanta foreclosures hit record high

admin — Thu, 18 Jun 2009 13:53:18 +0000

The number of homes being foreclosed upon in Metro Atlanta shows no signs of slowing down, according to Equity Depot.

Pending auctions for the 13-county metro area hit a record-high 7,659. Fulton county had the most listings at 1,804. DeKalb and Gwinnett followed with 1,414 and 1,295 respectively.

We’d love to be your Atlanta real estate lawyers. Want to know more? Contact us and we’ll be happy to discuss how Harlan and Associates can be of service to you!

The asylum series: 4, originally uploaded by Otto K..

Atlanta home prices show continued shallowing

admin — Tue, 26 May 2009 15:21:25 +0000

Standard & Poor’s released the Chase-Shiller Home Price Indices this morning, showing that the decline in home prices in Atlanta seems to be shallowing.

The data, good through March 2009, show that the metropolitan Atlanta area experienced a 1.7 percent drop in home prices versus February.

February’s drop was 2.5 percent versus January. And January’s decline was 3.2 percent from December 2008.

Still, Atlanta’s home prices show a year-to-year decline of 15.7 percent.

While three months of smaller declines is a positive sign for the city, home prices nationwide are still experiencing significant downward pressure. Nine of the cities tracked by Case-Shiller in fact had record declines in March.

We’d love to be your Atlanta real estate lawyers. Want to know more? Contact us and we’ll be happy to discuss how Harlan and Associates can be of service to you!

Warning, originally uploaded by arion».

Atlanta ranks 7th in foreclosures

admin — Wed, 13 May 2009 16:12:10 +0000

Another quick hit from RealtyTrac and the AJC: Georgia now ranks seventh in the nation in new foreclosures.

Fulton County was first in the state with 1,846 foreclosures, and Gwinnett was second with 1,417. DeKalb was third with 1,081.

Total foreclosures in the state were 11,521.

We’d love to be your Atlanta real estate lawyers. Want to know more? Contact us and we’ll be happy to discuss how Harlan and Associates can be of service to you!

number 7., originally uploaded by apenrade.

Quick hit on Atlanta home prices

admin — Tue, 12 May 2009 17:57:55 +0000

Quick news via the AJC, reporting statistics from the NAR: Atlanta home prices have fallen by 25 percent over the last year.

It’s interesting because the NAR’s figure is way beyond Case-Shiller, which reported a 15.3 percent year-to-year decline.

We’d love to be your Atlanta real estate lawyers. Want to know more? Contact us and we’ll be happy to discuss how Harlan and Associates can be of service to you!

○ ^ ○, originally uploaded by Bernat_83.

Is now a good time to be a landlord?

admin — Wed, 11 Mar 2009 20:22:44 +0000

Last month, the delinquency rate for mortgages was at an all-time high, with one out of eight homeowners either late or in foreclosure. Across the country, home values have dropped on average anywhere between 8 and 30 percent. And in Atlanta, prices have fallen 12.1 percent, according to the S&P/Case-Shiller home price index.

For some, that paints a pretty bleak picture of the housing market. But for others, it looks like a time of great opportunity.

Why? Because, compared to their recent values, houses are cheap, and investors looking to hold rental properties for the long term are finding better and better deals.

For example, lenders have really started unloading their foreclosure properties at discount prices, which is a good sign for those looking at the long-term hold. Almost half of all deals today are either REO or short sales, and it is real estate investors who are increasingly taking advantage of that market.

In fact, our investor clients are telling us that they’ve never seen more foreclosure homes in better condition than now. Good properties are available, and at good prices.

Still, when looking at buying rental property, real estate investors should bear in mind:

A thorough inspection is absolutely mandatory. As anyone who as read an REO addendum to a sales contract can tell you, the selling lender makes no representation as to the condition of the property at all. As-is is the rule, and with a limited time to walk away without forfeiting your earnest money, you need to be certain the property doesn’t bring with it hidden repair costs which may affect your ultimate cashflow.
Bottom-fishing is OK. Right now, the banks are swamped with REO properties, and there’s nothing wrong with submitting low-ball offer after low-ball offer until someone bites. While there isn’t an average percent discount that lenders will accept, it still can’t hurt to make the offer.
It is still important to know your market and evaluate your specific deal. If the area ultimately won’t support the rental rate you need, then you’re probably offering too much.

Many personal finance experts have long-believed that real estate is a key component in building long-term wealth, and owning rental property is a fantastic way to earn that wealth slowly over time. With opportunities unseen for years, more and more investors are turning to rental property as a primary focus of an overall successful investment strategy.

Harlan and Associates has years of experience in helping real estate investors be successful, and ee’d love to be your Georgia closing attorneys. Want to know more? Just contact us today and we’ll be happy to discuss how Harlan and Associates can be of service
to you!

For Rent, originally uploaded by angi bbyx3.