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Daily Foreclosure Update

James Marotta — Mon, 20 Feb 2012 23:58:33 +0000

Foreclosures back on the rise

James Marotta — Thu, 15 Sep 2011 18:06:51 +0000

While foreclosures have not slowed much, the new push by the banks is to move the pipeline along. This means continued pricing pressures, but it also means continued buying opportunities while prices remain low with low interest rates. In my opinion, we won't see this trend turn around until the jobs picture changes.

See the entire story on this link:http://finance.yahoo.com/news/Mortgage-default-warnings-apf-157937671.html?x=0

Rentals boosted by Foreclosures

James Marotta — Wed, 03 Aug 2011 15:59:37 +0000

This article covers a lot of ground between plans by Fannie Mae to rent homes up to 5 years to lenders selling foreclosures in bulk to investors. Regardless of the place the foreclosure ends up, the article hints that sales prices maybe stabilizing, and that rentals are the big focus for investors as rental prices go up from new demand and easy foreclosure inventory. I think the biggest take aways are: buy and hold (not flip), and also banks are considering stabilizing the market by holding their own inventory and renting it. This indicates rentals are a good way to go for current home owners, investors and banks.

How can you as a home owner benefit? Simple, if you have a desire to move closer in town or upgrade to a bigger home, this could be the right time. You can easily rent out your existing home, hopefully with positive cash flow, and purchase the upgrade home cheap! This market can present some win wins!

See article: http://www.pe.com/business/realestate/stories/PE_News_Local_D_rentals03.3a0741f.html

Rental Rates maybe rising in Atlanta

James Marotta — Wed, 03 Aug 2011 15:49:19 +0000

As you will see from this article, Post Properties has reported a 3.5% rise in rates. This could be another sign of the growing strength in the rental market. As an investor, this can be a great time to add to your portfolio of properties. Prices and interest rates remain low and you have a good opportunity to get it rented fast. The long term trend appears to be putting rentals in a very strong position.

See the article about Post's results at this link: http://www.housingwire.com/2011/08/01/post-properties-swings-to-profit-as-rental-rates-occupancy-rise

Changes Ahead for Mortgage Servicing

James Marotta — Tue, 02 Aug 2011 22:52:48 +0000

This is not a surprise as the mortgage market continues to face many changes. Some are quite good, and some still remain a worry. This one appears to be positive on many fronts. One of my favorite points in the single point of contact for the mortgagee. See all the details in this article.

http://www.cnbc.com/id/43991596

Fortunately we are not in this situation

James Marotta — Tue, 02 Aug 2011 22:41:34 +0000

Well as this story from CNBC notes, Detroit is solving some of its housing problems with a bulldozer. But fortunately Georgia is no where close to this situation.

http://www.cnbc.com/id/43989234

One in every 365 homes is a foreclosure in GA

James Marotta — Wed, 19 Jan 2011 20:49:57 +0000

Yes unfortunately we did make the top 8 of states with the most foreclosures in the United States. While one in every 365 homes is a foreclosure in Georgia that is relatively good compared to Nevada's one in every 84 homes. You can see the entire top 10 at this link here: http://www.cnbc.com/id/29655038

What does this mean for you the home owner? Simply put pricing pressures will continue but not nearly as bad as other locations. Not only are we far better off then Nevada, we also have a better position on unemployment and attracting more businesses in Atlanta, GA. We could be stuck in Chicago, Illinios which will see a 66% increase in taxes. The new sign welcoming businesses to Wisconsin is already posted. You can be sure higher taxes will drive business and jobs away from those locations to more friendly locations (currently like Atlanta's!).

What does the mean for the buyer- inventory, inventory, inventory. So where are all the listings? My hope is that you will see a great deal more availability this Spring. And if you are buyer, don't be afraid to negotiate aggressively with a bank. The first rule of thumb in a purchase is to like/love the home. You won't wake up in the morning thinking wow what a great deal I got on this home that is kind of blah. Instead, you will just think this home is kind of blah, I wish I hadn't purchased it. If you do it right, you will wake up in the morning saying, I love my home and wow what a great deal. Like it first, then negotiate the best deal possible.

Last tip, make sure your Realtor knows how to work with banks and short sales. That agent will be sure to get you the best deal possible and help you avoid many pitfals that can happen in the process.

Housing starts down but permits are UP!

James Marotta — Wed, 19 Jan 2011 20:39:09 +0000

The bad news is that housing starts were down more than expected but the good news is that permits are up 16.7%. That is significantly higher than expected. Keep in mind housing construction is a leading indicator. With permits on the rise that could be a good sign. This trend needs to continue for more than a month or two. We are approaching the Spring and it is the best time to build a home. If this trend goes deeper into the year with some stability or even improvement, that could be a first big sign that we are turning a corner. Are we seeing any turn in residential real estate overall?

To be honest, not yet. We have quite a ways to go. There is still no significant improvement in the Unemployment Rate which is key to a housing recovery. Additionally, the future pressures of interest rate increases could stall any up ticks.

One thing I can share is that if you are planning home improvements or additions or to build a brand new home, you still have the best pricing opportunity. There are a number of contractors still looking for work in the Atlanta market. If you are in a position to invest in such projects you will have the best return on your investment by paying today's prices!

You can read more about today's report from this CNBC news article here!

New Year and New Foreclosures

James Marotta — Fri, 14 Jan 2011 22:19:43 +0000

We have a new year and unfortunately new concerns about foreclosures. Realty Trac released in a report yesterday that a record 1.2 million foreclosures will likely happen in 2011. There are also concerns about rising interest rates on the back drop of inflation. Will there be a double dip in the housing market?

So tell me what is your sign?

James Marotta — Fri, 14 Jan 2011 21:00:00 +0000

Has your sign changed recently? It may have according to the world of astrology. Fortunately from everything I can tell, mine remains a Sagitarius. But I was so hoping to be the new 13th sign .

With that said, here is the link the article, in case you do need to know!

http://shine.yahoo.com/channel/life/has-your-horoscope-changed-2439951/