Metro Atlanta, Gerogia Real Estate Market, North Georgia, REO Sales

After four LONG years of declines, home sales on a national basis finally appear to be turning around. Closed sales,which have risen three straight months, and pending contracts, up for five straight months, are at levels above normal spring and summer increases.

First time home buyers are stepping up to take advantage of the deeply discounted prices. low mortgage rates, and the buyer tax credit.

Whats more, home prices and mortgage payments in relation to income are comfortably below historical levels. That suggest home prices have overcorrected downward.

Still, the housing market is FAR from being out of the "doldrums". But because consumers view of home values is changing, the momentum raising home sales will likely continue in 2010 I do not see buyers  as hesitant about home purchases  on the fear of further price declines. This help sets the stage for a steady release of the pent-up housing demand.

If anyone is looking for help...call me today or email me at markkimball@mindspring.com

After a long periord in which it was very clear that housing was headed in one direction....down, some still doubt the housing market is truly in recovery mode. Nearly 7 million more homes are destined for foreclosure, making up a huge inventory of homes that have not yet made it to market.....It has been four steps forward and one step back. Homes sales falling off 2.9 percent from just a month ago. Sales should for this month be ahead of August, but wondering if they will halt or slow down after the $8,000 tax credit for first time buyers(read my other blog entry about the tax credit).

Foreclosures and other distressed sellers accounted for 30% of the market last month. Sales of homes priced over $250,000 were down nationally with the biggest drop of 40% coming among homes priced over $2 million.

However; mortgage rates are also helping more people afford a home. The average rate on a 30 year fixed-rate loan was 5.04 % this week, unchanged from a week ago.. The drop in sales last month may reflect delays in completing sales due to very tough lending standards and the new rules for appraisals.

Well that it for now. I would love have some feedback or commits on what you are thinking..until next time take care...call me or email me if you need any help buying or selling real estate.

OMG...I have never seen anything like this. They are reporting that this had to be the 100 year flood... There are some many homes that are just gone. ...Lives that are destroyed and it will take months if not longer to dig ourselves out of this mess. My prays go out to all those that have been  hit by this act of nature. If you want to help I heard that you can go to any Publix market and donate or go to your local Red Cross and give  of your time or money to help those in need.

If you want to see more information you can go to

www.11alive.com

Take Care. Mark

As you all know it has been raining for the last week and yesterday was the Mother load!. I do live close to a lake and boy oh boy the damage I have seen from all this water is to much for words. With the housing market in the shape it is in now Just wait we are going to see the market take another blow that we just don't need right now.  Most of the homes that I saw did not have flood insurance.... Sad but true. My prays will be the many 100's of families that have lost their homes to this event. Hopefully they will be able to get Federal aid along with local and state funds to help them rebuild their homes and lives.

To see some pictures and detail information go to a web site that says it all

http://www.11alive.com

Take care...and my prays are with you.If I can help in any way contact me at my email