This article first appeared on March 3 at The Intown Atlanta Real Estate Examiner’s page… Even though overall sales were +14% higher in the fourth quarter of 2009, not all segments had increased sales. The activity for properties sold under $300,000 is particularly strong, with both new construction and resales up significantly from fourth quarter 2008 compared to fourth quarter 2009. Gains were generally larger in lower price ranges and with resale properties compared to new construction. By observing the numbers for new construction properties priced above $300,000, a gradual shrinkage is evident as prices increase, particularly in the $750000-$1 Million range and in the range of $1 Million and higher. Of course, federal government stimulus is carrying the housing market and since the healthiest activity is under $300,000, the combination of relatively easy FHA lending and the federal and state tax credits are an evident catalyst. Distressed properties still … [Read more...]

“Although down from the peak percentage in the first quarter of 2009, the portion of total sales represented by foreclosed properties remained high throughout 2009. Fourth quarter 2009 foreclosures were also a lesser portion (27.4%) of total sales compared to 4Q 2008 (32.2%) The percentage is slightly higher than in the third quarter of 2009. Foreclosures were 35.6% of fourth quarter 2009 sales in the <$200,000 price range. Since the percentage one year ago in this price range was 44.5%, the pressure is obvious on sellers who are not in distress. Short sales place even more pressure on those sellers who “don’t have to sell…” In 2010, the expectation of foreclosure and short sale properties arriving on the market in “possibly record numbers” is a financial phenomenon that savvy sellers can not ignore.” You can find the rest of the article here, at Examiner.com… … [Read more...]