Wednesday, December 26, 2007
Atlanta Parade of Homes
The Atlanta Parade of Homes will begin the weekend of April 19th. Specific information is not yet available, but you can check the website as date of the event draws nearer.
Monday, December 24, 2007
Atlanta's Top Three Builders
The top three builders, based on houses sold in 2006 (the last year for which full sales information is available, see Atlanta Business Chronicle) are:
D.R.Horton Inc., with 1753 homes sold
Pulte Homes, with 1743 homes sold
HomeLife Communities, now Atreus Homes & Communities, with 1425.
D.R.Horton Inc., with 1753 homes sold
Pulte Homes, with 1743 homes sold
HomeLife Communities, now Atreus Homes & Communities, with 1425.
Thursday, December 20, 2007
Not Just Subprime
The mortgage interest meltdown continues to expand. People with good credit and the ability to pay are walking away from mortgages according to the CEO of Bank of America. Some investors with little down on their investment properties are simply walking away from their investments as interest rates rise.
Foreclosures - November 2007
Georgia was number 7 in the nation in the number of foreclosures in November with just under 9,000. Nationally the number of foreclosures declined. However, there are $500 billion dollars in adjustable rate mortgages (ARMs) that will increase in 2008. When ARMs increase beyond the ability of homeowners to pay, the homes go into foreclosure. So the foreclosure rates in 2008 are still in question.
Monday, December 17, 2007
Increasing Percentage of Real Estate Agents Going Inactive
The Atlanta Business Chronicle reports that the number of real estate agents that are going "inactive" is increasing. Still, there are more than 85,000 active agents in Georgia.
Monday, December 10, 2007
The White House Mortgage Plan
Here is the Wall Street Journal's analysis of the Mortgage Plan the White House released. The bottom line is that it will help a few people, but it fails to address many of the problems. Housing prices will continue to stagnate until foreclosures decline significantly and there is a reduction in the existing inventory of unsold homes.
Labels: mortgage foreclosure inventory
