Local Real Estate Comments and Ramblings

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Foreclosures 837 - New construction 8

So how's the market?  People used to always ask that question.  Now it seems most people are to afraid to even ask.  They don't want to hear the answer.
Two recent articles in the Marietta Daily Journal tell the story.

In December of 2007 there were 53 building permits issued in all of Cobb County.  In December of 2008 there were 8.  There were 707 permits issued for all of 2008.

In 2006  there were 3716  and in 2007 there were 1935 permits issued, so there has been a steady decline that has reached the bottom of the barrel.  

The foreclosure rate for Cobb County is setting new records as well.  In January 2009, for the Tuesday Feb 3 foreclosure date, there were 837 foreclosure listings advertised.  I think that it is quite likely that we will hit 1000 some month soon.

On the flip side, this is a great opportunity for serious buyers. There are some very good deals to be had.  Be careful because some of those seemingly good deals aren't so good after all.  Be sure to use a buyers agent who is familiar with the current market.  Selling can be a real challenge but with a good selling agent your home can sell. It almost certaily will sell for less than it might have a year or two ago, but if you an find a good deal on your next home it might just be worth it to consider making a move.  

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Bob Southard, e-Pro, Realtor ®, Solid Source Realty, Inc. Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga.  Call me for all of your real estate needs.

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Bob Southard
Broker - Owner  Atlas Realty Service LLC #75911

O:678-439-SOLD(7653)

CALL ME DIRECT: 770-656-9134

Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Smyrna, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga. Call me for all of your real estate needs.

Visit my website

www.AgentBobSells.com

 

bob@agentbobsells.com

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678-439-7653

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Comment balloon 0 commentsBob Southard • January 23 2009 04:45PM

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