There’s a saying in the real estate business that states: “pricing is an art, a science and a skill.” This video and the following comments about Intown Atlanta’s Adair Park are not just the rainy day ramblings of a dude who did not shave. I’ve just watched one particular Adair Park property drop in sellable value from $150,000 to $35,000 in 2 years, and this video tells you the story… So, recently the City of Atlanta put a cool new sculpture in Adair Park, but that is about the most beautiful investment anyone is making in Adair Park, lately. Somewhere around 2006, the "disinvestment" and "mortgage fraud" trends hit the 30310 zip code...HARD. 30310 had and has the distinguishing weakness of real estate speculation gone haywire. Houses that would have sold for $150000 in 2007, now will not sell for more than $50000... You really should check out Historic Adair Park's website - the Adair real estate dynasty of the early 20th century built an … [Read more...]
Intown Atlanta Residential Real Estate Videos Worth Seeing
Here’s a look at what’s positive about Intown Atlanta real estate through the Summer of 2009. Look for some updates coming soon based on the recent Q3 2009 statistics and charts… Next, check out this video, live from “English Avenue” on the Westside – just 2 minutes from the Georgia Dome. If you stand around long enough, you’ll probably attract a heroin addict, so let this video be your guide to the the “downward gravitational pull of foreclosures” in Intown Atlanta… That’s a wrap for the second quarter – stay tuned for newer, fresher video reports, coming soon! … [Read more...]
Senate “Likely” To Extend First Time Homebuyer Tax Credit
The “Good News Economists” over at Seeking Alpha posted a timely article this week that should ease the impatient millions who waited to take advantage of the tax credit that expires in about - oh, I don’t know exactly, uhhhh…it depends on your bank, but like, uhhhh… 10 or 12 real working days. If you don’t know, then now you know. Take heed, slowpokes. Just realize that the “new deal” is slightly different, and that victory comes to the swift and the capitalized. "Senate Majority Leader Harry Reid has proposed a new version of a popular home-buyer tax-credit extension. Folks close to the matter claim a vote on the proposal is coming shortly. Another recent Senate alternative would continue the $8,000 credit for four months and then gradually phase it out after that. Current law has the credit expiring at the end of November. The value of the credit would drop by $2,000 every quarter until it halted completely by the end of 2010. The … [Read more...]
Don’t Sweat The REO Technique, Whiner
I just answered this Trulia Voices question. The question is about how a mortgage-funded buyer who got beat by a cash buyer on a Suntrust REO purchase and sale, was wondering if they might be “paranoid.” Suntrust REO: We bid 25K over the asking price on a property. They asked for our highest and best twice, and we gave it. Last week, we found out we had the highest bid, but the next highest bid was a cash bid for 10K less. We waited another whole week, even telling Suntrust we would take out a mortgage with them. Today, the property was relisted on MLS for $10k less than it was listed for when we bid. Tonight we got a fax saying it was sold. Is something going on, or am I just being paranoid? Part of my answer included this advice: "Highest" and "best" are distinct and subjective to every "arms length" real estate transaction. If you encounter Suntrust again, don't sweat the technique, whiner.” The Trulia Voices web reference includes a 90+ page Scribd … [Read more...]