Comments on: Metro Atlanta Foreclosures spiked, so what does this really mean? http://intowninsider.com/2010/02/metro-atlanta-foreclosures-spiked-so-what-does-this-really-mean/?utm_source=rss&utm_medium=rss&utm_campaign=metro-atlanta-foreclosures-spiked-so-what-does-this-really-mean This is Intown Atlanta's Real Estate Media Vehicle Sat, 04 Feb 2012 21:08:30 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Leehttp://intowninsider.com/2010/02/metro-atlanta-foreclosures-spiked-so-what-does-this-really-mean/comment-page-1/#comment-952 Lee Mon, 08 Feb 2010 19:05:13 +0000 http://intowninsider.com/2010/02/metro-atlanta-foreclosures-spiked-so-what-does-this-really-mean/#comment-952 Excellent commentary, Kirk. The bird in the hand saying is an old African proverb, I'm pretty sure - here in Atlanta, we say "fools rush in, where wise men never go" and ATL's Gucci mane would say: "...28 inch rims that's what we talki'n bout... Ya either cash it in or we'll cash ya out..." Excellent commentary, Kirk. The bird in the hand saying is an old African proverb, I’m pretty sure – here in Atlanta, we say “fools rush in, where wise men never go” and ATL’s Gucci mane would say:

“…28 inch rims that’s what we talki’n bout…

Ya either cash it in or we’ll cash ya out…”

]]> By: Kirk Nacehttp://intowninsider.com/2010/02/metro-atlanta-foreclosures-spiked-so-what-does-this-really-mean/comment-page-1/#comment-951 Kirk Nace Mon, 08 Feb 2010 16:20:27 +0000 http://intowninsider.com/2010/02/metro-atlanta-foreclosures-spiked-so-what-does-this-really-mean/#comment-951 Great work Lee! Atlanta is however at least 5 years and an additional 25%-35% price decline away from a bottom. Prices always trail supply and demand (leading indicators) by at lesat 6-12 months (much more w/ foreclosures.) SELLERS take note, it will be well over a decade before you can get more for a property than you will get today. BUYERS - waiting for lower prices is a great idea IF you are a cash buyer. If however you are looking to finance, continued credit tightening and rising interest rates mean that buying today will actually be more financially savvy for many than waiting. IF you are ok with the distinct possibility of needing at least 20% down, and looking at a fixed rate of 9% or higher, when prices get to a bottom, then wait. Where I grew up there was a saying about a bird in hand v two in the bush . . . Do you have any similar sayings in Atlanta? Want help? I am a short email away Kirk@KirkNace.com Great work Lee! Atlanta is however at least 5 years and an additional 25%-35% price decline away from a bottom. Prices always trail supply and demand (leading indicators) by at lesat 6-12 months (much more w/ foreclosures.) SELLERS take note, it will be well over a decade before you can get more for a property than you will get today. BUYERS – waiting for lower prices is a great idea IF you are a cash buyer. If however you are looking to finance, continued credit tightening and rising interest rates mean that buying today will actually be more financially savvy for many than waiting. IF you are ok with the distinct possibility of needing at least 20% down, and looking at a fixed rate of 9% or higher, when prices get to a bottom, then wait. Where I grew up there was a saying about a bird in hand v two in the bush . . . Do you have any similar sayings in Atlanta?

Want help? I am a short email away Kirk@KirkNace.com

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