Atlanta Foreclosures – Gwinnett County
Today was the day banks went through the foreclosure process. At the beginning of the month, there were 3,678 foreclosures that were advertised for the foreclosure process in the metro Atlanta area and of those 1355 were in Gwinnett County alone. While we won’t know the numbers that actually were turned back into the bank, you can be sure that there were a lot. While I am sure several were held off by loan modifications and others may have been caught up either by the homeowner or by an investor taking the property subject to the existing mortgage, there are still a lot of properties that are going into the bank’s inventory.
With more and more bank owned properties coming into the market, sellers who are thinking about selling need to understand that bank owned or real estate owned (REO) properties are the new comparables. When we meet with seller’s some of the first questions we ask is – do you need to sell or want to sell. That is an important question to answer. We can sell homes – but we have position the home in such a way to compete with the REO market. For sellers that don’t need to sell, we are advising them to wait until the market balances out.
When thinking about selecting an agent to represent you with the sale of your property, you want to make sure that you find an agent who works the business full time. In today’s market, you need an agent’s full and undivided attention in order to get the best results. In addition, you will want to review the agent’s credentials. The individual agent will be more important than the real estate company. If you want more tips on selling your home or want a competitive marketing analysis, you can contact us at www.AtlantaHousingSource.com.
