Buckhead Homes & Real Estate

Archive for Atlanta GA Foreclosure – Page 2

Buckhead Foreclosures

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Sunday, March 15th, 2009

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.
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Categories : Atlanta GA Foreclosure, Atlanta Homes Sale, Buckhead Homes
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Atlanta Pre-Foreclosures and Auctions

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Friday, March 6th, 2009

According to a survey by the Mortgage Bankers Association, one in eight Georgia mortgage holders were in pre-foreclosure in the fourth quarter of 2008. While most of the foreclosures are happening on the south side of Atlanta, there are still some great deals in Buckhead and north Atlanta.

You can get limited access to a website that I subscribe to through the Atlanta Journal Constitution. It’s called EquityDepot, and it provides pre-foreclosure information on Metro Atlanta homes. I’ve written about short sales and pre-foreclosures on my website. The AJC also has a great description of the whole pre-foreclosure / foreclosure process.

Here is the link to the AJC’s foreclosure page.

If you have any questions about the pre-foreclosure, foreclosure auction, or post-foreclosure process, and how you might find a good deal on a home in Buckhead or Metro Atlanta, please call me.

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Categories : Atlanta GA Foreclosure, Atlanta Homes Sale, Financing Mortgage
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Short Sales

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Friday, February 20th, 2009

A couple of years ago you would have been hard pressed to have found someone who could have adequately defined a “short sale” for you. Unfortunately, as a sign of the times, “short sale” seems to be ingrained within our our vernacular.

If you are considering selling your home in a short sale you’ll need to consult with an attorney, your mortgage company and probably a CPA – since there may be some forgiveness of debt as income issues. The following is a brief explanation from the purchaser’s side of a short sale.

A short sale occurs during the pre-foreclosure process. In a nutshell, the owner, who is in default on his mortgage payments, receives prior approval from the bank to sell the property for less than what is owed. The bank secured its loan with the home, so it makes sense that the bank would have final approval on selling the asset for less than the loan value.
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Categories : Atlanta GA Foreclosure, Atlanta Homes Sale
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Pre-Foreclosure

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Friday, February 20th, 2009

When a property initially enters pre-foreclosure status, the owners typically have two to three months to reinstate the property by paying off their behind payments. If the property is in this status then the owners are in danger of losing their home, any equity in the property and having a black mark placed on their credit record. If the property is on the market, the owner, who is in default on his payments, will use the proceeds of the sale to payoff what is owed on the home.
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Categories : Atlanta GA Foreclosure
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