Ball Ground Ga real estate - Foreclosure homes land for sale

Tuesday, June 23, 2009

Foreclosure Pifalls to Avoid

Foreclosures are a very large part of todays real estate market. Buyers of foreclosure homes are enjoying great deals. However, some unfortunate, uninformed buyers fail to do the proper due dilligence and are getting caught up in some of the pitfalls that sometimes come along with the purchase of a foreclosure home. Here are three common issues to be aware of if you're considering a foreclosure purchase.

1. Delinquent taxes or leans. When a homeowner gets behind on payments, odds are good that the property taxes are also delinquent. Make sure that any unpaid taxes or leins are either paid or negotiated in your contract before signing, or be sure your covered by contingencies.

2. Normally foreclosures are sold with no disclosure. Reapir issues can be a huge problem. Many issues with a home such as electrical and plumbing are not apparent in a visual inspection. Be sure to inspect the home thoroughly or hire a professional inspector.

3. Unpaid utility bills. This is sometimes a big expense. If the utilities are not on, it may be because a huge bill is unpaid and the new owner (You) could get stuck with paying the bill before the utility company will turn on service.

The foreclosure market offers great opportunity. However if you are not experienced or working with an agent, or someone who is experienced, you should be aware of all the possible catches and be thorough in your due dilligence.

Tue, June 23, 2009 | link

Thursday, April 30, 2009

Pickens Commercial Real Estate Market

I've been getting questions about commercial investment opportunity in our area recently. Most are asking if opportunity exist in todays market? My answer is yes.

While most sectors of the commercial market have erododed in most of the country as well as parts of our own state, I believe that Great Opportunities are available NOW to invest or locate a business in Cherokee, Pickens and Gilmer counties. Growth has slowed in our area; however the commercial retail market which has been hit the hardest in most parts of the country has remained reasonably stable here; especially along the hwy 575 corridor in Cherokee Pickens and Gilmer Counties.

As evidence, Projects completed this year include a large power center off the hwy 20 exit in Canton, several additions to the Walmart center in Ellijay and construction has begun on a Walmart center in Jasper.

I believe that demographics show that our area is still a great place to get in on the ground floor of commercial development.

Thu, April 30, 2009 | link

Saturday, November 22, 2008

Cherokee Pickens Housing Stats for October 2008

PICKENS: 93 new listings came on the market in October and 17 homes sold. Average sale price was $205,000 this is an average of 92.4% of the original list price of those homes that sold. Average number of days on market was 62.
This is 8 less homes than were sold in the same month in 2007 however the number of days on market is 52% lower than 2007. Average sale price was down 9% compared to October 2007

NORTH CHEROKEE: 136 new listings hit the market in October and 15 homes sold. Average sale price was $191,000 this was an average of 97.08% of the original lsit price and the average days on market was 76. this is 8% lower than the same month in 2007. Average sale price was down 8.5%

As you can see prices are down in both counties; however the days on market seem to indicate that the bargin prices are begining to bring out the buyers. With the very low number of new homes being built, this could mean inventory reduction and a possible stablization of prices in the comming year.

Sat, November 22, 2008 | link

Saturday, May 31, 2008

Should You Sell or Buy Now?

In light of the credit crunch and concerns over the economy, the question most Pickens and Cherokee county home buyers as well as most sellers are asking these days, is "when will prices in this market reach bottom"?

Well, in the last 12 months, the answer to this question depended on who you asked. All the economist and financial gurus' seemed to have a different answer. However in the past few weeks many of those with a gloomy forcast for the near future are beginning to lean more toward the positive side. Their answers are now beginning to sound like a general theme; and that theme is positive. The cheif economist for the National Association of Realtors said in an interview this week. " indications are that most markets may reach bottom and begin recovery in the last half of 2008". Another good indicator of which way the market is moving, is the activity of real estate investors. The fundamentals of real estate investing are much the same as that of investing in the stock market; where the strategy is buy low and sell high. I'm currently seeing an increase in the buying activity of investors here in our area. This may very well mean that they also believe that the bottom is near. The fact of the matter is, evrery market is local and prices can vary greatly in area's just a stones throw away from each other. No one knows without a shadow of a doubt exactly when the market will reach bottom in any particular area. However I personally believe that when you ad all the factors above as well as many others I'm seeing together and look at the big picture every indication is that we are near the bottom on the national level.

So, what does that mean for home buyers and sellers here in the Pickens and Cherokee county area?

The stats show that Cherokee and Pickens are currently very different markets. In Pickens the mediun sale price for single family homes in April of 2007 was $199,000 The mediun price in April of 2008 was $194,000. This equals a 2.5% decline in one year and this is 4% below 2005 prices. Cherokee County prices on the other hand, are down 7% from april 2007. However this is in line with 2005 prices.

So assuming that the predictions for markets to improve in late 2008 come true, Its time for buyers in both counties to move. Due to stimulous efforts by the fed and Busch adminastration, Interest rates are extremely low now, and for buyers who need FHA financing, the terms are looser than ever before. Not to mention the fact that buyers are not likely to see prices this low again in a their lifetime.

For those Cherokee County sellers who want to sell but don't need to sell now, You may very well see prices back above the 2005 level by early 2009. For sellers who do need to sell now, depending on the area of location, your home should be worth the same as it was in 2005; however unless you have the right marketing strategy it could take you up to 1 year to sell.

For Pickens selllers, I think it will be quite some time before most see prices back at the 2005 level but all is not lost.

Before you give up and throw in the towel. It's not a hopeless situation for sellers in either Pickens or Cherokee. There are ways to get a much better price for your home, with the right marketing strategy. Or If your situation or equity allows, you may want to consider using terms such as partial or full owner financing or lease / purchase which will put you in a position to get a premium price and open up a much larger market to you.

Please keep in mind that this is the opinion of one real estate agent formed from his interpretation of statistics and news. Buying or selling a home is a big decision and should be made based on your own circumstances, needs and research of the market in the particular area of the county that your home is located.

Sat, May 31, 2008 | link

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