Buckhead Foreclosure Homes
I get asked, a lot, about foreclosures, bank owned properties, and REOs. I’ve written a lot about foreclosures in the past, and the articles always generate lots of web traffic. I don’t blame folks for being interested in them, as they can be some great opportunities. I’ve represented clients in purchasing bank owned homes and recently bought a foreclosure in Buckhead for my family. Just because it’s a foreclosure doesn’t mean it’s a great deal; banks can overprice a home just as easily as an individual. If you find a property that has a competitive...
Read MoreZombie Subdivisions
As I’ve mentioned before, the outlying Atlanta suburbs have really been hit hard by the housing slowdown. The subdivisions that seemed to sprout-up overnight in Forsyth and Fayette county, are now being referred to as “zombie” subdivisions, where only a few homeowners sit among acres of vacant, bank-owned lots. Hopefully, the bankd won’t be changing any of the subdivision names to “Dawn of the Dead.” While there might be small examples of the “zombie” phenomena in the immediate Atlanta suburbs, like Dunwoody and Sandy Springs, it’s more...
Read MoreShort Sale Primer
I’ve written about short sales fairly extensively on this blog and have actually dealt with short sales and foreclosures more than a lot of my colleagues in Buckhead, Sandy Springs and Dunwoody. I have worked with clients in Buckhead and Sandy Springs who have tried to buy pre-forecosure and REO properties. I’ve seen some very good deals on Buckhead luxury properties. Although I’ve had some experience with short sales, the whole concept is still a fairly recent phenomenon that requires any Atlanta agent to continually search for more information. I found a great article by...
Read MoreBuckhead 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,...
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