With the first-time homebuyer tax credit deadline having come and gone, you may be asking yourself, “What now?” Fortunately, the door is now open to a new wave of savings:  DISTRESSED PROPERTIES (a.k.a Foreclosures, REOs and short sales).

For many buyers in Atlanta, the term foreclosure brings up images of run-down homes with no heat and rotting wood. While this is still the case for some homes, it’s no longer the standard.  In fact, we’ve worked with quite a few first time buyers in Atlanta who are snatching up foreclosure and short sale homes that in decent condition for bargain basement prices. 

According to a November 2009 Keller Williams Research Buying Distressed Properties Survey:

• 40 percent of all buyers for bank-owned foreclosures (REOs) were first-time buyers in 2009
• 50 percent of all short sale buyers were first-time buyers

By definition, a “distressed property” is one that was purchased with a loan and the homeowner is no longer able to make their mortgage payment resulting in foreclosure – or if they’re lucky a short sale – meaning they owe more on the home than it’s currently worth. With a 20 percent increase in foreclosures from 2009, distressed properties still remain a large portion of home sales and are going to continue well into 2010 as homeowners continue to feel the effects of an economy on the mend.

If you’re in the market for a home in Metro Atlanta and are prepared for a unique transaction (smile!), a foreclosure or short sale property can be a great option. Here’s are four important reasons why you should consider the foreclosure option:

1)  Prices are low – Buying a foreclosed property in and around Atlanta is an excellent way to get a home for less. Research shows you can save 10-40 percent over the price of similar properties in a traditional sale.

2)  Mortgage costs are low – With rates hovering near historic lows, financing costs to are favorable.  Please keep in mind, rates are always changing. It’s important to begin the pre-approval process so that you know how much you can realistically afford.

3)  You have options – The number of Atlanta homes in some stage of the foreclosure process still remains high. RealtyTrac, a site dedicated to tracking foreclosures across the country, estimates that there are approximately 2.1 million homes in some stage of foreclosure in the US.

4)   Sellers and lenders are motivated – According to data from RealtyTrac, in April, one in every 387 households in the country has received a foreclosure filing. The bottom line is that many sellers are still feeling the pain of a down economy and are anxious to out get from under a home that is putting stress on their current financial frustrations. While it is still an emotional transaction, these sellers are willing to come down on price or even consider concessions such as helping out on closing costs. Banks holding on to large portfolios of Real Estate Owned (REO) properties want to unload quickly – and price these home to sell.

READY TO START SHOPPING?  SEARCH FOR FORECLOSURES IN METRO ATLANTA

Find Foreclosures in Popular Atlanta Neighborhoods

Dekalb County Home Foreclosures

Fulton County Home Foreclosures

Condominium Foreclosures

Loft Foreclosures

Townhome Foreclosures

Your best ally when purchasing a distressed property is a real estate expert. Always have a professional REALTOR® by your side to help you make informative decisions. 

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 Thank you for visiting our Intown Atlanta Real Estate Blog!

Posted by:  Kerry Lucasse – Atlanta GA Real Estate Agent – Atlanta Home Search Team
The ATL Home Search Team is part of Keller Williams Realty, specializing in Grant Park, Kirkwood, Oakhurst, and East Atlanta real estate.

CALL KERRY ANYTIME AT 404.432.1844

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Stone Mountain GA Real Estate – Foreclosure Homes for Sale in Stone Mountain

Stone Mountain is one of the most unique places in Georgia and is said to be home to one of the world’s largest mass of exposed granite and the largest relief carving. 

Located 16 miles east of Atlanta, GA, Stone Mountain is part of DeKalb County (zip codes 30083 and 30087) and is a great place to live if you have to commute to Downtown Atlanta, City of Decatur or the Ashford Dunwoody area (near the I-285 Interstate).  

Stone Mountain home prices are very reasonable and a family can usually find a newer 4 bed / 2.5 bath home for less than $250,000.

FOR ALL OF THE STONE MOUNTAIN HOUSES FOR SALE, PLEASE CLICK ON THE LINKS BELOW.

These pages are updated DAILY with new listings, so check back often!

Stone Mountain Homes for sale under $199,999

Stone Mountain Homes for Sale over $200,000

View ALL Stone Mountain FORECLOSURES

If you have any questions about living in Stone Mountain or the current real estate market, please call us anytime at (404) 432-1844.  We’re here to help!

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KERRY LUCASSE  ::   REAL ESTATE CONSULTANT  ::  KELLER WILLIAMS REALTY

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I’m sure many of you have been listening to the news and have heard about the new “Making Home Affordable” plan. 

The question is… ARE YOU ELIGIBLE to REFINANCE USING THIS PLAN? 

The good news is that you can quickly find out with the new Making Housing Affordable government website.  They have an online questionnaire that only takes a minute or two to complete and you get an instant response.

Visit the website at:  www.MakingHomeAffordable.gov

There are actually two different programs that are under the “Making Home Affordable” plan — one allows you to refinance if you no or little equity in your home but you are current on your mortgage payments (see the refinance questionnaire). 

The other program is for people who are behind in their mortgage payments and may qualify for a “loan modification” (see the mortgage modification questionnaire).

This may be a challenging and stressful time for you and your family, so please take advantage of the new mortgage assistance programs available to you so you can get back on your feet.  If you don’t qualify for the programs above,  please reach out to your mortgage holder or a local real estate professional in your area… help is available!

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INFORMATION BROUGHT TO YOU BY: 

Kerry Lucasse  ::  Atlanta Real Estate Consultant  ::  Keller Williams Realty  ::  404.432.1844

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Atlanta Lofts & Condos for Sale

The latest phase of Arizona Lofts — called AZ2 — has achieved the next level of sophistication in loft living.  With 11 foot ceilings, floor to ceiling windows and truly gourmet kitchens,  each floor plan is impressive.  Additional features in most units include:

- Sealed concrete floors or hardwood/carpeting

- BOSCH stainless appliance package

- Thick granite in kitchen and bathrooms

- Walk-in closets

- Patios/balconies with access from master suite

- Plenty of storage space

- Freestanding soaking tub in master bath

Amenities include state of the art fitness center, controlled access, two saltwater pools, and a rooftop deck with spectacular city views.

>>> VIEW THE AVAILABLE LOFTS FOR SALE in AZ2

I have to say that the original Arizona Lofts are also fantastic with great floorplans, unique details, and many of the same amenities as the new AZ2 development.

>>> VIEW ALL LOFTS FOR SALE in the original Arizona Lofts

QUESTIONS about the Arizona Lofts?  Call the Intown Atlanta Loft Experts at 404.432.1844.  We would be honored to assist you with all of your real estate needs.\

To search for Atlanta lofts for sale by complex or development, go to: 

http://www.ATLhomesearch.com/LOFTSandCONDOS.html

LOOKING FOR A GREAT DEAL?  Check out our Atlanta LOFT FORECLOSURES page.

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To simplify the foreclosure home search for my client and readers, I’ve created direct links to ALL the foreclosures listed in the Atlanta MLS. Just select what city / county interests you and start shopping!

Please note that the following pages are UDPATED DAILY, so be sure to bookmark and visit often!

Click here to view FORECLOSURES in ACWORTH

Click here to view FORECLOSURES in MARIETTA

Click here to view FORECLOSURES in EAST COBB

Click here to view FORECLOSURES in NORTH FULTON COUNTY

QUestions?  Call Kerry at 404.432.1844.

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Looking for an Intown Atlanta loft?  Milltown Lofts are an affordable – and very cool – option.  Located just down the street from the Cabbagetown district, Milltown consists of 68 all-brick units in a gated community.  Featuring 10 – 18 ft ceilings, industrial-sized windows, exposed brick, and gorgeous kitchens, and lower HOA dues, this development should be added to the top of your list.  Many of the lofts also include rooftop access with Atlanta skyline views. 

The development offers private garages, a business center, fitness center and clubhouse and is just around the corner from the new Edgewood Retail District, Inman Park (on the other size of Dekalb Avenue) and is just a few miles from Downtown Atlanta.

Prices range from $170,000 to $399,000.  To view all of the available Milltown Lofts, go to:

>>> MILLTOWN LOFTS for SALE

If you have questions or would like to schedule a closing, we are here to help!  Call Kerry Lucasse anytime at 404.432.1844.

View Larger Map
 >>> VIEW ALL ATLANTA LOFT FORECLOSURES

>>> VIEW ALL OF ATLANTA CONDO FORECLOSURES

>>> SEARCH FOR CONDOS & LOFTS BY COMPLEX

If you have any questions about the Atlanta loft market or would like to schedule and appointment to view any of the lofts, please call Kerry Lucasse at 404.432.1844.

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Our Atlanta Loft & Condo website allows you to search for condominiums by a specific complex or building, but to simplify your search, we’ve created direct links to all of the Atlanta Condo, Loft & Townhome foreclosures for sale. Please note that the pages are updated daily, so you will have access to the latest and greatest foreclosures available.  Please click on one of the following:

To view all the Metro Atlanta Lofts & Condos for Sale — and search by Condo or Loft complex — please visit our site today.  With historically low interest rates and condos for sale at 10 to 30% less than their original value, this is a great time to purchase a foreclosure home.  If you have any questions or see any Atlanta condos, lofts or townhomes that interest you, please give us a call at 404.432.1844 or email at KerryLucasse@yahoo.com

** PLEASE NOTE THAT THIS IS UPDATED DAILY **

Search for foreclosures in a specific Metro Atlanta county:

North Fulton County Foreclosures

South Fulton County Foreclosures

Dekalb County (Dekalb-West) Foreclosures

Dekalb County (Dekalb-East) Foreclosures

East Cobb Foreclosures

Looking for foreclosures in a specific Intown Atlanta neighborhood?

Grant Park foreclosures

Kirkwood foreclosures

City of Decatur foreclosures

South Decatur / East Lake foreclosures

North Decatur foreclosures

Virginia Highlands and Morningside foreclosures

Candler Park, Little Five Points, Inman Park foreclosures

If you have questions or need assistance, please call us at 404.432.1844.

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This is truly an amazing opportunity for home buyers!

Veridine Builders has reduced the price of their stunning new Craftsman-style homes up to $100,000.  Current home prices now start at $475k.

These gorgeous, executive-level homes feature gourmet kitchens that open into keeping room, 4 to 6 bedrooms, master on main, bonus loft areas upstairs, stone fireplaces, vaulted ceilings, 2 or 3 car garages, large level lots and SmartHouse Technology.

No detail was spared — even the laundry rooms have custom cabinets and granite countertops. 

All of the neighbors are thrilled with the Builder (just ask them!) and I think that this would be an excellent investment for you and your family.

>>>  View the homes still available in Glen Cove

To schedule an appointment, please call Kerry Lucasse at 404.432.1844.

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Established in 1834, Marietta is a vibrant city that features a unique blend of small-town values within a city large metro area.  Located north of Atlanta and just south of the North Georgia Mountains, Marietta has a beautiful and vibrant downtown square filled with restaurants, antique shops and the fun-filled Glover Park.   

For many home buyers, the strong school system is the driving force behind their move to Marietta.  In 2007, there were FIVE Marietta High Schools recognized by Newsweek in the 2007 Top High Schools in America.  High schools included, Sprayberry, Pope, Walton, Marietta and Wheeler.

… It couldn’t be a better time to purchase a new home!  Interest rates are low and builders are significantly reducing the price of their new homes.

>>  View all new construction homes in Marietta  ($300 – $500K)

>> View all new construction homes in Marietta ($500k and up)

>> Glen Cove homes reduced up to $100,000 – see available

>> Search for Atlanta homes by Subdivision

>> View all EAST COBB foreclosures (updated daily)

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For information on the homes in Glen Cove, please contact Kerry Lucasse at 404.432.1844 or visit http://www.AllGoodRoad.com

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