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. Read More→
I get asked about foreclosures, REO and short sale properties all the time. So, here is a list of all the current listings, in north Atlanta, over $400,000, that have been identified as bank owned, in pre-forclosure or short sales. Keep in mind, the list will not be exhaustive, because some owners and agents choose not to disclose this information in the Atlanta FMLS, REALTOR database. Read More→
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 common in the fast-growth counties. Here is an excerpt from an article in the AJC on the huge volume of vacant subdivisions in metro Atlanta.
To say the market has been sluggish would be an understatement. The main problem is sheer volume – a staggering 150,000 vacant housing lots across metro Atlanta are available, more than a decade’s supply at current absorption rates.