Buckhead and Atlanta REOs
Obviously there are a lot of bank owned properties on the market. Some of the best REO deals I’ve seen in Buckhead, Dunwoody and Sandy Springs are unfinished rehab and builder spec homes. There are a surprising number of homes without kitchens, bathrooms and/or systems. Even if you can find an Atlanta buyer, who would be willing to undertake such a project, he or she won’t be able to get conventional financing without a kitchen, bathrooms or systems installed. This is very good news for a creative buyer. You can get a great deal in metro Atlanta on a home missing a kitchen,...
Read MoreBuckhead home inventory for March 19th
Here are some Buckhead homes inventory numbers as of today: $500,000 – $1,000,000 – 17 months of inventory 344 currently active, 242 sold in last 12 months $1,000,000 – $3,000,000 – 2 years of inventory 307 currently active, 151 sold in last 12 months $3,000,000 and above – 9 1/2 years of inventory 76 currently active, 8 sold in last 12 months You can look at past posts for a comparison.
Read MoreFulton County Homestead Exemption Increase
The new Homestead Laws will allow for an increase in the basic exemption of $15,000 over the next three years. If you are currently receiving a homestead exemption you don’t need to do anything to start receiving the increase. If you are not receiving an exemption, to qualify you must own and occupy your current residence as of January 1st, 2009 and apply by April 1, 2009. If you are 62 or older, you may be eligible for other additional exemptions. Feel Free to call me with any questions. If you live in Atlanta, Buckhead, Dunwoody or Sandy Springs you can go to the Fulton County Tax...
Read MoreLake Lanier recreation is down 13%
The number of annual visitors to Lake Lanier is down 13% from 2005, when the lake was at full pool. The number of boaters is expected to be down even more than 13%. Obviously this has a negative economic impact to businesses located around Lake Lanier. From marinas to restaurants, everybody is feeling the squeeze far beyond the current economic conditions. So aside from being the water supply for metro Atlanta, there are recreation and economic benefits to the lake. I think we have done an extremely poor job in the media, countering Florida’s economic arguments. We’ve all heard...
Read MoreBuckhead Foreclosures
There is a common misconception that foreclosures are cheap homes in undesirable neighborhoods. I subscribe to the Atlanta Foreclosure Report and ran a report for Buckhead homes in pre-foreclosure, with mortgages over $500,000, that are due to be sold on the Fulton County Courthouse steps on April 7, 2009. As you can see below, there are plenty of great deals at the upper echelon of the Buckhead real estate market. Some of the streets listed are the most prestigious and sought-after streets in Buckhead. If you’re interested in getting more details on the previous pre-foreclosures,...
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