Comments on: Housing Market Forecast 2010 http://www.atlantaintownpaper.com/2010/01/housing-market-forecast-2010/ ATL rocks Sat, 11 Feb 2012 17:47:32 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Martin http://www.atlantaintownpaper.com/2010/01/housing-market-forecast-2010/comment-page-1/#comment-3267 Martin Sat, 17 Jul 2010 13:26:15 +0000 http://www.atlantaintownpaper.com/?p=2605#comment-3267 Zillow has NEVER been accurate. If you want accuracy, check with a local real estate appraiser or agent. Zillow has NEVER been accurate. If you want accuracy, check with a local real estate appraiser or agent.

]]> By: Chris Hough http://www.atlantaintownpaper.com/2010/01/housing-market-forecast-2010/comment-page-1/#comment-1112 Chris Hough Tue, 16 Feb 2010 06:08:55 +0000 http://www.atlantaintownpaper.com/?p=2605#comment-1112 I'm slightly more optimistic than Lisa, although she makes a good point. While I agree we are not out of the woods, if you are in the real estate market to purchase -and in it for the long haul, buying Atlanta real estate is still a good return on investment. Further, our own two Georgia senators have proposed new incentives to congress to raise the $8000 stimulus rebate to $15,000 this spring. If this happens, this could negate some loss for most areas in metro-Atlanta. I’m slightly more optimistic than Lisa, although she makes a good point.

While I agree we are not out of the woods, if you are in the real estate market to purchase -and in it for the long haul, buying Atlanta real estate is still a good return on investment.

Further, our own two Georgia senators have proposed new incentives to congress to raise the $8000 stimulus rebate to $15,000 this spring. If this happens, this could negate some loss for most areas in metro-Atlanta.

]]> By: Lisa http://www.atlantaintownpaper.com/2010/01/housing-market-forecast-2010/comment-page-1/#comment-976 Lisa Wed, 13 Jan 2010 18:26:56 +0000 http://www.atlantaintownpaper.com/?p=2605#comment-976 Shannon, the reason for the gap is because we have NOT hit bottom. In fact, we are far from it. I wouldn't rush in to buying at this point. The market will likely fall midway through 2010 when the government stimulus package ends. The market will correct and even over correct just as soon as the government stops intervening. The downward spiral will continue; the government is only delaying it. Some are saying the housing crash of 2010 will be far worse than the housing crash of 2008. Is it possible that 10 million foreclosures could hit the market in the next 2-3yrs? According to some experts, not only is it possible… the final numbers could be much higher. Mike Colpitts, editor of Realtytrac's Housing Predictor writes..."10 million homeowners will be foreclosed through 2012 as more mortgage holders are unable to refinance their mortgages because of falling home values or give up at the prospect of holding on to their homes all together." Shannon, the reason for the gap is because we have NOT hit bottom. In fact, we are far from it. I wouldn’t rush in to buying at this point. The market will likely fall midway through 2010 when the government stimulus package ends. The market will correct and even over correct just as soon as the government stops intervening. The downward spiral will continue; the government is only delaying it. Some are saying the housing crash of 2010 will be far worse than the housing crash of 2008.

Is it possible that 10 million foreclosures could hit the market in the next 2-3yrs?

According to some experts, not only is it possible… the final numbers could be much higher.

Mike Colpitts, editor of Realtytrac’s Housing Predictor writes…”10 million homeowners will be foreclosed through 2012 as more mortgage holders are unable to refinance their mortgages because of falling home values or give up at the prospect of holding on to their homes all together.”

]]> By: Lisa Payne http://www.atlantaintownpaper.com/2010/01/housing-market-forecast-2010/comment-page-1/#comment-975 Lisa Payne Wed, 13 Jan 2010 18:09:43 +0000 http://www.atlantaintownpaper.com/?p=2605#comment-975 Shannon, the reason for the gap is because we have NOT hit bottom. In fact, we are far from it. I wouldn't rush in to buying at this point. The market will likely fall midway through 2010 when the government stimulus package ends. The market will correct and even over correct just as soon as the government stops intervening. The downward spiral will continue; the government is only delaying it. Shannon, the reason for the gap is because we have NOT hit bottom. In fact, we are far from it. I wouldn’t rush in to buying at this point. The market will likely fall midway through 2010 when the government stimulus package ends. The market will correct and even over correct just as soon as the government stops intervening. The downward spiral will continue; the government is only delaying it.

]]> By: Shannon http://www.atlantaintownpaper.com/2010/01/housing-market-forecast-2010/comment-page-1/#comment-969 Shannon Mon, 11 Jan 2010 19:51:11 +0000 http://www.atlantaintownpaper.com/?p=2605#comment-969 If the Atlanta housing market has hit bottom, then why does a Zillow 'Zestimate' on nearly every home I look at on the web come in at least 30% lower than the list price? I'm looking at upper bracket homes between $700,000-1,000,000, and the Zestimates are far below the current asking prices. I'm in Minneapolis in a very comparably priced housing market, and the Zestimates for this area are very accurate and in line with what's actually going on around here (i.e, homes that are currently priced considerably more than the Zestimate are NOT selling.) Can anyone explain the gap? I'm not likely to spend 8 or 900,000 on a home that Zillow says is currently worth six. If the Atlanta housing market has hit bottom, then why does a Zillow ‘Zestimate’ on nearly every home I look at on the web come in at least 30% lower than the list price? I’m looking at upper bracket homes between $700,000-1,000,000, and the Zestimates are far below the current asking prices. I’m in Minneapolis in a very comparably priced housing market, and the Zestimates for this area are very accurate and in line with what’s actually going on around here (i.e, homes that are currently priced considerably more than the Zestimate are NOT selling.) Can anyone explain the gap? I’m not likely to spend 8 or 900,000 on a home that Zillow says is currently worth six.

]]> By: Foreclosure Recap – Week #52 | Mortgage Help Foreclosure Resource http://www.atlantaintownpaper.com/2010/01/housing-market-forecast-2010/comment-page-1/#comment-957 Foreclosure Recap – Week #52 | Mortgage Help Foreclosure Resource Fri, 08 Jan 2010 17:40:24 +0000 http://www.atlantaintownpaper.com/?p=2605#comment-957 [...] The folks in Atlanta seem to think that the housing market is on the way to a recovery. At least the.... The article shows that the area is now selling homes in the in town area at a fairly good clip and gives some optimistic views and over all outlook. The recovery, as they state, is going to be slow and a gradual climb but all the things in the Atlanta Georgia area are pointing upwards. A good deal of the increase is from the stimulus package and the tax breaks, which carry over into April of this year. [...] [...] The folks in Atlanta seem to think that the housing market is on the way to a recovery. At least the…. The article shows that the area is now selling homes in the in town area at a fairly good clip and gives some optimistic views and over all outlook. The recovery, as they state, is going to be slow and a gradual climb but all the things in the Atlanta Georgia area are pointing upwards. A good deal of the increase is from the stimulus package and the tax breaks, which carry over into April of this year. [...]

]]> By: Foreclosure Recap – Week #52 | ForeclosureListings.com http://www.atlantaintownpaper.com/2010/01/housing-market-forecast-2010/comment-page-1/#comment-954 Foreclosure Recap – Week #52 | ForeclosureListings.com Fri, 08 Jan 2010 17:13:46 +0000 http://www.atlantaintownpaper.com/?p=2605#comment-954 [...] The folks in Atlanta seem to think that the housing market is on the way to a recovery. At least the.... The article shows that the area is now selling homes in the in town area at a fairly good clip and gives some optimistic views and over all outlook. The recovery, as they state, is going to be slow and a gradual climb but all the things in the Atlanta Georgia area are pointing upwards. A good deal of the increase is from the stimulus package and the tax breaks, which carry over into April of this year. [...] [...] The folks in Atlanta seem to think that the housing market is on the way to a recovery. At least the…. The article shows that the area is now selling homes in the in town area at a fairly good clip and gives some optimistic views and over all outlook. The recovery, as they state, is going to be slow and a gradual climb but all the things in the Atlanta Georgia area are pointing upwards. A good deal of the increase is from the stimulus package and the tax breaks, which carry over into April of this year. [...]

]]> By: Randy Barnes http://www.atlantaintownpaper.com/2010/01/housing-market-forecast-2010/comment-page-1/#comment-931 Randy Barnes Sat, 02 Jan 2010 23:57:15 +0000 http://www.atlantaintownpaper.com/?p=2605#comment-931 Great article, IMO, and I’ve been involved in local real estate since '93. My enquiries to several of my bigger broker pals agrees with the assessments here. I expect a flat market at best as more foreclosures will be depressing on prices. I see the new mortgage guidelines that make loan qualifying even more difficult as the biggest 2010 negative in Atlanta. Local credit quality is the pits, and the sub 640 FICOs can just about hang it up. Additionally, mortgage broker fees and licensing is puttin a hurtin' on some of the soon-to-be-former 'playas' in town. Smart cookies with patience and solid financials will be enjoying some sweet rewards in 2010. Those of us in the biz should have just enough rope to make it through. Great article, IMO, and I’ve been involved in local real estate since ’93. My enquiries to several of my bigger broker pals agrees with the assessments here. I expect a flat market at best as more foreclosures will be depressing on prices.

I see the new mortgage guidelines that make loan qualifying even more difficult as the biggest 2010 negative in Atlanta. Local credit quality is the pits, and the sub 640 FICOs can just about hang it up. Additionally, mortgage broker fees and licensing is puttin a hurtin’ on some of the soon-to-be-former ‘playas’ in town. Smart cookies with patience and solid financials will be enjoying some sweet rewards in 2010. Those of us in the biz should have just enough rope to make it through.

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