April 2008
The Archives
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04.29.08Steep declines in home prices continued in February 2008; Atlanta down 5.6 percentFrom CNN: Home prices have posted another record decline, as most of the nation’s largest markets suffered double-digit drops over last year, a survey released Tuesday shows. The S&P Case/Shiller Home Price Index, which tracks 20 of the largest housing markets, showed prices plummeting by 12.7% in the 12 months ending February. That’s the biggest fall since the index began tracking prices in 2000. Of those 20 metro areas, 17 posted their largest year-over-year declines ever. Ten of the 20 cities posted double-digit dips. The 10-city Case/Shiller index is down 13.6% year-over-year, the biggest drop since its launch in 1987. The latest Case/Shiller price index ...
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04.29.08Foreclosures increase for the seventh consecutive quarterFrom Forbes: The number of foreclosures filed by US homeowners increased sharply for the seventh consecutive quarter, according to a private sector report released today. In the three months ending in March, the number of foreclosures totaled 649,917, up 23 pct from the previous quarter and 112 pct from the first quarter of 2007, California-based RealtyTrac said. The report, from RealtyTrac, shows that foreclosures, which were already at record highs, have more than doubled from this time last year. The statistics count of the total number of properties with at least one foreclosure filing reported during the quarter and show that there is ...
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04.24.08Despite economy’s rumblings, Atlanta looking upFrom Commercial Property News: Atlanta is on the rise, and now is the time for the commercial real estate industry to jump on the opportunities that are coming with the city’s growth, according to real estate experts at CPN’s annual Atlanta Property Opportunities Conference. Over 150 market executives attended the panel discussions, held this morning at the Grand Hyatt Atlanta in Buckhead. “Atlanta had experienced a big decline beginning in the ‘70s in to 2007, but the city is back,” said Cheryl Strickland, managing director of tax allocation districts for the Atlanta Development Authority, who opened the conference as the keynote speaker. ...
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04.16.08Record number of foreclosures for AtlantaFrom the AJC: A record number of metro Atlanta properties are scheduled to be auctioned on the courthouse steps next month, according to numbers released Tuesday by Equity Depot, an Alpharetta company that tallies foreclosures. The data is further evidence that metro Atlanta is mired in a real estate slump. Homeowners, builders, developers and commercial property owners have stopped making payments on these properties, so lenders are repossessing them. In the 13-county metro area, 7,335 properties are scheduled for courthouse auctions, Equity Depot said. The previous record was 6,992 properties reported in January. After a two-month reprieve in foreclosure advertisements, metro Atlanta's foreclosure numbers ...
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04.14.08Atlanta Real Estate: Looking Up?Given that the real estate bubble was not as inflated in Atlanta as elsewhere in the nation, and that Atlanta’s growth rate continues to be strong, the prospects of a rebound in Atlanta’s real estate market may be strong. Even with a drop in values, real estate in Atlanta may continue to be a good investment and a tremendous builder of wealth.