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

I know everyone is tried of hearing about the falling home market....As a REALTOR, I am watching the market very closely. The market is according to the National Association of REALTORS that sales of existing sigle-family homes and condominiums dropped by 1.2 pwercent on October to a annual rate of 4.97 million units nation wide. The median price of a home has dropped of 5.1 percent from a year ago, the biggest year over year price decline on record. The blame on the fallout is from serious credit cruch that roiled financial markets, banks and other lenders have just had tio tighten credit standards in the response to soaring levels of defaults.

However; I think that we are going to see some change in the new year. I heard that masny of the sub-prime notes that were going to adjust have been held at present intrest rates and this will hopefully keep thousands of homeowners out of foreclosure. Time will tell.

FHA loans are now the new sub-prime leander. There are people who can still get a loan for a home through the FHA programs. Also HUD and VA are still a good  for those that are willing to go through the process of obtaining these kinds of loans.  It is a BUYERS market and I tell everyone who is thinking of owning a home....Now is the time to buy. contact me if you have any questions I will be glad to help.

Take Care.

Mark