Posted by Keen Brothers on Friday, December 06, 2013 at 9:11 AMBy Keen Brothers / December 6, 2013Comment
Between 1999 and 2009 the US economy experience zero net job creation. Middle-income households made less in 2009, when adjusted for inflation, than they did in 1999. And the net worth of American households ... also declined when adjusted for inflation.
And Corporations pay the nominal price for years of systemic fraud.
Posted by Keen Brothers on Saturday, May 14, 2011 at 2:35:15 PMBy Keen Brothers / May 14, 20113 Comments
Foreclosures notices for April 2011 in the Metro Atlanta market dropped by 28% from March 2011 and 18% from April 2010. What does this mean for the foreclosure market here in Atlanta? Well ... as much as we'd like this to mean foreclosures have seen their peak, it's more reasonable to assume the precipitous drop is due to recent changes in lender requirements.
Pervasive problems with improper paperwork led many lenders to slow down the filing process. They're now taking extra steps before advertising properties for foreclosure; making certain to dot all the "i's" and cross all the "t's". Those extra steps, though necessary to protect the legal interests of big banks, are causing homes to sit longer before hitting the market as REOs (real estate owned).
This months totals are the lowest since February 2009 ...
Here's a quick breakdown of the top 5 counties and their totals:
Posted by Keen Brothers on Monday, March 14, 2011 at 9:33:16 PMBy Keen Brothers / March 14, 2011Comment
Is it possible we've seen the worst of the foreclosure crisis in Atlanta? We find out in this Atlanta Foreclosure Report for March, 2011.
Foreclosures notices for March 2011 in the Metro Atlanta market dipped slightly suggesting a possibly peak in the activity across the 13 county area and a glimmer of hope for the struggling market. The March total fell to 10,779 - a .6 percent drop from the February 2011 tally and a significant 14 percent dip from March 2010 numbers.
Foreclosure trend upward during the spring and summer months. In fact March 2010 saw a 22 percent rise from February 2010 -- so this decline, though welcomes, comes unexpectedly.
Even with the surprise drop in notices file this past month ... we're still 2 percent ahead of last year, which set an annual record.
Here's a quick breakdown of the top 5 counties and their totals:
Gwinnett County led with 2,338 total filings. Right behind Gwinnett...
Posted by Keen Brothers on Sunday, February 20, 2011 at 4:55:38 PMBy Keen Brothers / February 20, 2011Comment
1 in 7 mortgages are not being paid
25% of all U.S. properties are underwater (near 40% in the state of GA)
The current unemployment rate is 9.2%
1 in every 300 households in Georgia received a foreclosure notice in February 2011
As a professional real estate consultant in this market I have resources to help if you're faced with financial distress as a result of these tough economic times we've encountered. Don't wait until it's too late to take action. Contact me today at (404) 270 9374.
Posted by Keen Brothers on Tuesday, February 15, 2011 at 7:07:08 AMBy Keen Brothers / February 15, 2011Comment
The recent news of an improving economy and a falling unemployment rate has little to do with the Atlanta housing market as foreclosure notices continue at a break neck pace. February was a record breaking month posting a 7 percent increase over January and a 5 percent increase from February 2010.
Just two months into the year and it's clear 2011 is going to be one of the record books. According to Equity Depot (a foreclosure tracking firm) -- notices increased 13 percent
from the same time in 2010, which was also a record year.
Here's why this is still happening and isn't likely to change any time soon: The confluence of factors that cause an extremely high foreclosure rate still exist. Decreasing real estate values, low buyer demand, unemployment and underwater homeowners all contribute to the massive problem. And we're not likely to see changes anytime soon.
Here's how the major counties stack up, as reported by Equity Depot: Gwinnett...
When we last listed the price-to-rent ratios in major metropolitan areas, Seattle’s was near the top of the list. Only in the Bay Area of Northern California and in Honolulu were house prices higher, relative to rents.
A sky-high price-to-rent ratio is perhaps the single best sign that an area is in a housing bubble. Real-estate agents, homeowners and even home buyers can tell a lot of stories to justify the bubble — stories about central cities or good school districts being immune to bubbles — but eventually...
Posted by Keen Brothers on Monday, February 07, 2011 at 8:43:55 PMBy Keen Brothers / February 7, 2011Comment
The majority of today's Home Buyers are well aware of the discounts available in the foreclosure market (bank owned homes for sale). Experience shows the best deals are bank owned homes (REOs). And in the current market many banks are looking to get the "inventory" off their books. In most cases, foreclosures and bank owned property represent the very best deals in the market with discounts of 20, 30, even 40 and 50% off the previous sales price. Here's the caveat: if you're a buyer wanting to take advantage of these once in a lifetime prices ... it's important to understand how to navigate the chaotic and fast paced market. Because if you don' move fast and with confidence, someone else will.
Here are a few basics to get you started:
The ASKING PRICE takes into consideration the condition of the home. Don't expect to negotiate deep discounts because the place is in...
Posted by Keen Brothers on Friday, September 03, 2010 at 7:57 AMBy Keen Brothers / September 3, 2010Comment
It's Thursday, September 2nd 2010 and welcome to today's episode of IntownDailyForeclosures.com
We've got a shorter list than usual for Friday, but there are a couple good properties that have come on the market and I always recommend digging through the archives on my blog to see if anything in previous episodes is of interest.
Posted by Keen Brothers on Tuesday, August 31, 2010 at 1:49 PMBy Keen Brothers / August 31, 20102 Comments
It's not just the heat here in Atlanta setting records. This month there were 13,130 foreclosure noticed filed in the 13 county region of Metro-Atlanta. That's a 59% increase over July and a 4.5% increase over the record set in March of this year.
Gwinett county led the pack with 2,733, Fulton trails closely behind with 2,518 and DeKalb in third with 2,031.
Posted by Keen Brothers on Monday, August 23, 2010 at 1:51 PMBy Keen Brothers / August 23, 2010Comment
It's Monday, August 23rd 2010 and I'm back with another episode of IntownDailyForeclosures.com and a weekly market review. In today's episode we look at the entire week's listing activity in the distressed property market in Metro Atlanta.