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We are looking at Atlanta as one possible option to move. I am floored and amazed at the amount of foreclosures, bank owned and HUD homes. What even more amazing is that there are some very nice homes on the block this way. I am not talking crappy home....but homes that are in nice areas of ATL--nice developments "newer" circa 2000.
Suwanee, Alpharetta..more of the upscale subdivisions. Just curious...are these bank owned/short sales/hud homes actually moving? How flexible are they with regards to pricing.
I envisioned bank owned/hud/foreclosures as really beat up homes..but there are some nice homes to be had.
In this particular market and area how are the new home builders able to compete with the deals...what about the FSOB and resales? Are people leaning towards these homes to pick up a deal instead of go the other route.
I don't know much about the ATL real estate market other than that I had a friend that bought new there in December 2009 for $225K. Now bigger new homes in the same neighborhood are going for about $160K. So it looks like builders are slashing prices to compete.
It is unfortunate but a lot of families in Atlanta got caught up in the mortgage scam. Now they are having to sell their homes before foreclosure via a short sell. This is also true because even though we were able to keep our homes, we were not able to keep our jobs. For those of us who had jumbo mortgages and no jobs. Well... you do the math.
It truly is a buyer's market here. Builders here are simply trying to recapture some of the dollars they put into these new homes because after the bank failure, and tougher lending laws, qualification was harder to come by and fewer buyers can be found.
Yes, Atlanta has the picking - all sorts for homes if you looking for a bargain! Come on down!
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