Bernanke Cites Improving Housing Data
While it’s somewhat geographically anecdotal, I’m getting the feeling that the housing market is improving in Buckhead. Federal Reserve Chairman Ben Bernanke said Tuesday that the economy appeared to be stabilizing, but warned that a real recovery is still months away. “We continue to expect economic activity to bottom out, then to turn up later this year,” Bernanke told the congressional Joint Economic Committee, according to a prepared statement. Bernanke cited improved sales of existing homes as evidence that things are improving. He said sales have been “fairly stable”...
Read MoreReally crappy marketing photos
I see a lot of awful internet home photos, but the ones from this Buckhead listing especially irritate me: Are you kidding me! This home is listed for $525,000 with a 6% REALTOR commission. So some poor soul, who probably really wants to sell her home, is paying a lot of money for a few barely discernable photos. I honestly feel sorry for the owners. They are probably receiving very little showing activity. With over 84% of buyers utlizing the internet in their home searches, it’s the first, and many times the only, impression a home has on the marketplace. When buyers are scanning...
Read MoreThe one sided real estate contract – buying an REO
I’ve been blogging about my personal experience in buying a Buckhead foreclosure here in Atlanta, Georgia. There is so much to write about, it’s hard to know where to begin. When we finally went under contract on a bank-owned foreclosure, it was just the beginning of our journey into the depths of anxiety. The bank stated that our offer had been accepted, but we were not under contract, and then faxed us a 25 page addendum, that was five times as large as our original contract. It’s the most one-sided thing I ever read in my life (other than the other bank-owned real estate...
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