Elva Branson-Lee, CDPE

Year-end reports show Georgia foreclosures trending upward month-over-month... and downward year-over-year.

While the overall real estate market seems to be calming down in Georgia, the state is not out of the woods yet, as far as foreclosures are concerned. According to these charts and statistics from the latest RealtyTrac® U.S. Foreclosure Market Report, 4^th quarter foreclosure filings in the state of Georgia were trending upward from the previous quarter, but downward from the previous year.

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 12,327 Georgia properties in November 2011. This represents a 23 percent increase from October 2011, but still 15 percent below the level reported for November 2010. By contrast, total U.S. activity decreased by 3 percent from October and was down over 14 percent from the level reported in November 2010. One in every 579 U.S. housing units received a foreclosure filing during the month.

The Georgia foreclosure filing rate was the fifth highest in the nation, accounting for 5 percent of the 224,394 properties with filings reported nationwide in November. One in every 330 housing units received a foreclosure filing in November — 1.8 times the national average.

The five Georgia Counties posting the highest number of foreclosure fillings were Gwinnett, Fulton, Dekalb, Cobb, and Clayton.

The RealtyTrac report further speculates thatNovember’s numbers suggest that these markets might expect a new set of incoming foreclosure waves, many of which may roll into the market as REOs or short sales sometime early next year.

What do these trends mean to you? It’s a great time to be a home buyer or real estate investor in Georgia right now, as bargains proliferate and more may soon hit the market. For home sellers who are on the fence about selling now or pricing to the market, these projected new foreclosures and short sales will put more downward pressure on prices. So, if you’re thinking if selling, it might be wise to price it right and get it sold…sooner, rather than later. In either case, you'd be wise to work with a knowlegeable real estate professional to help you get the most favorable results in a still challenging market.

Ellenwood GA Real Estate Sales are picking up steam, as prices rise slightly in the first quarter of 2012.

A few blog posts ago I reported that Ellenwood GA real estate is on sale at the most affordable price points in a decade. Well, buyers have gotten the message, and as demand goes up, so do prices.

The average price of Ellenwood GA homes for sale took a tremendous dip after 2008, and remained flat through 2011. But in the 1^st quarter of this year, prices are definitely trending upward again. The average price for both market sales and bank-owned sales climbed back up above $150K.

Today’s charts shows selling prices at an average high of $180,090 in January 2012 as compared to a low of $93,346 in October. Bank-owned properties sold at an average of $157,960 last month. With the spring selling season in view, Ellenwood GA home selling prices are once again trending upward, and the average price of new offerings coming on the market was about $135,170 in January.

If you are thinking about buying or selling real estate in Ellenwood GA, consider these current trends. Perhaps it's time to get off the fence and make your move.

But first, begin by getting expert help to interpret the market and get you the best results. Start right here, with Elva Branson and the Best Atlanta home sales team.

For more details about this featured Ellenwood GA short sale bargain at 3880 Busby Mill Ct in Legacy Mill subdivision, contact us today.

Clayton County GA Real Estate for Sale - New Inventory Trending Downward

Following several consecutive years of slow sales combined with a continual glut of unsold properties putting downward pressure on prices, the Clayton County GA real estate market welcomes some good real estate news.

Well, here it is:

A look at the year-over-year new listing inventory numbers reveals that this market may finally moving toward normalization – at least as to the number of houses coming onto the market for sale each month.

With one exception, today’s chart shows that the number of homes for sale coming onto the Clayton County GA real estate market over the past year have been consistently lower month after month over the previous 12-month period.

The lone exception to the trend occurred in April, 2011, when there was actually a 7.5% rise over the number of new market entries recorded in April 2010. This exception could most likely be attributed to the typical Atlanta area real estate market cycle, which tends to follow the national trend of ratcheting up during the spring selling season.

The chart illustrates that the during rest of the year, monthly new listings were consistently fewer in 2011 than in 2010. Inventory was down by an average of 15.8%. And the trend seems to be continuing in 2012, as we see that new entries this month are still slightly fewer than last year.

The biggest year-over-year drop occurred in December 2011, when new inventory dropped by a whopping 34.3% as compared to December 2010.

If this trend continues, Clayton County could see a normalized market inventory rate soon. Good news, indeed!

If you are planning to buy or sell a house in Clayton County GA this year, call on the pros at the Best Atlanta home selling team to help you get the job done right. Our Buyer Specialists and Short Sales Specialists will help you accomplish you real estate goals.

Ellenwood GA Real Estate Sales - Trending Toward Affordability in 2012

Based on information from the Georgia MLS, today’s Market Snapshot of Ellenwood GA real estate market shows a definite trend towards affordability in single family housing. In the past six months, the vast majority of sales in the metro Atlanta east suburban city have been single family homes which sold for less than $100,000 -- incredibly low prices compared to recent years.

One hundred and eighty-five homes sold in this price range since August of 2011, and there are an additional 163 homes currently available at these fire-sale prices. These prices represent roughly half the median prices that were offered during the height of the real estate run-up a few short years ago.

Not one property sold for more than $400,000, and currently there is only property on the market priced in that price range.

What does this mean for those who want to buy or sell real estate in Ellenwood, GA now? If you are looking to buy in this superbly located bedroom community, there’s never been more bargains on the market than there are today. So don’t wait until the prices begin to inch back up. The time to buy is now.

If you plan to sell your Ellenwood GA home, you need to carefully consider your options. Many Ellenwood home owners are currently underwater in their mortgages, and might do better to stay in their property, or rent it out until the market improves. If you MUST sell now, you will likely need to bring cash to the closing table or secure your lender’s approval for a short sale. If a short sale seems the right choice for you, do yourself a tremendous favor and call on an expert short sales specialist to help you through your lender negotiations.

Henry County Real Estate - Market Trends for Monarch Village in Stockbridge GA

Prices are trending down and sales are ratcheting up. That’s what is happening now with homes for sale in Henry County real estate subdivision of Monarch Village in Stockbridge GA.

From a foreclosure-priced $79,900 for a cute 3 bedroom/2 bath cottage on the green to $349,900 for a luxury 6-bedroom/5 full bathDavid Weekly custom water view home in the Lakeside Estates section, Monarch Village real estate is on sale now.

The good news for buyers is that prices are right for nabbing a bargain in this sought-after community.

The good news for sellers is that buyers are buying in Monarch Village now. In general, sales have been up significantly over recent months compared to the previous year.

If you are planning to buy or sell a home in Stockbridge GA or any of the south metro Atlanta communities, start by getting expert help to interpret the market and get you the best results. Start right here, with Elva Branson and the Best Atlanta home sales team.

Featured Monarch Village Home for Sale

For more details about this featured Monarch Village short sale bargain at 575 Creek Valley Ct in Stockbridge GA, contact us todayIf you are planning to buy or sell a home in Stockbridge GA or any of the south metro Atlanta communities, start by getting expert help to interpret the market and get you the best results. Start right here, with Elva Branson and the Best Atlanta home sales team.