AGENT MLS HOME FINDER

The Atlanta real estate market has unfortunately been plagued by a distinct inconsistency in expectations, predictions, and reality. Since there is a considerable amount of commercial and residential real estate in Atlanta, the economic crisis hit  the largest city in the state of Georgia especially hard. Not only did the size of Atlanta exacerbate the dire situation of the rest of the economy, it also had an adverse affect on the suburban communities surrounding Atlanta. Atlanta does not seem to be improving at any appreciable rate in terms of any reliable indicators of the real estate market, and in fact has recently been faced with some especially negative and serious  evidence of a continuing decline in the local housing market.

Perhaps the worst piece of news facing Atlanta homes for sale is the astronomical rate of foreclosures, which increased yet again in September. A September 16, 2009 article in the Atlanta Journal-Constitution written by Henry Unger noted that this represents yet another record high. The piece stated that “Home foreclosures hit another monthly record in metro Atlanta. There were 12,207 foreclosure notices in September covering a 13-county region, according to Equity Depot data. That’s up from 9,930 in August. The notices published this month are for public auctions scheduled for October.” The President of Equity Depot, Barry Bramlett, pointed out that “It hasn’t leveled off yet. We’re seeing older loans that typically tell you it’s related to the economy and joblessness.”

It seems that one of the few bright spots for real estate in Atlanta is in the realm of housing prices, where for a month at least there have been decently significant strides back towards pre-recession levels. According to an August 25, 2009 article in the Atlanta Journal Constitution, “The comeback may have begun for Atlanta-area housing prices. Tuesday, the S&P Case Shiller Index reported that seasonally adjusted home prices in the metro area gained ground in June for the first time in 25 months.” Additionally, according to a September 3, 2009 article in the North Georgia Real Estate Examiner, “The good news is we are starting to see investors revitalize these homes once again and they are starting to sell these properties and making nice profits.”