Refinance Home Loan Mortgage – appraisals precautions

Interview and discussion with Nicolas Retsinas of the Harvard’s Joint Center For Housing Studies. He talks about the housing lumps in the economy. (Bloomberg News)

Apartment Building Owners, Real Estate Investors and Reluctant Landlords Are Experiencing A Very Robust Rental Market In Atlanta | REO Proformance Systems

Metro Atlanta (PRWEB) November 15, 2011

Atlanta, GA | Like many urban centers in the U.S. – is continuing to see a surge in consumers who are renting rather than buying.

“With so many vacant properties – specially unexampled homes, condos and townhomes – renters are getting much more for their money than they normally would,” says Barry Britt, Managing Broker for REO Proformance Systems – Coldwell Banker of Georgia’s top real estate team that focuses on Atlanta foreclosure and bank-owned properties in the metro area.

From 2000 to 2010 the new housing boom outpacing demand by more than 50% in the four major metropolitan Atlanta counties (including Cobb, Gwinnett, Dekalb and Fulton). In 2010 more than half of the 143,000 new houses, condos and apartments were vacant – most uncommitted for rent.

What does that mean for the renter? Great things of course. For renters there is much more competition for their business which means they do get more for their money. “We are seeing many owners of Atlanta foreclosure homes put those properties into the rental market,” says Sandi Beursken, agent and Chief Administrative Officer at REO Proformance Systems. “Owners of these properties such as financial institutions and mortgage companies, are aware of how challenging the existent estate market is and, as a result, are looking to generate some positive liquidating flow for these non-performing assets.”

The recession and slow-moving, jobless recovery has created many more renters. “We cognized that home ‘owners’ are still the majority in the 28-county metro area, but renters are closing the gap,” says Britt.

However landlords and other property owners are seeing a dramatic increase in demand for rental property. This trend is resulting in both the stabilization of rents in some areas and rents INCREASING in others areas of Atlanta. “In other words, landlords are actually seeing an increase in rental income as an ensuing of this tough economic climate,” says Britt.

But who are the new tenants? According to Britt these renters are possible home buyers who are choosing to rent rather than buy at this clocking OR other individuals or families who have damaged credit and cannot qualify for a home lent. “Mortgage requirements are so tough right now that many families simply can’t qualify,” says Beursken. In fact she adds that the amount of families who would ‘like’ to buy but can’t qualify is a major reason for this dramatic increase in the total of renters.

As we all have learned with all bear markets, there IS opportunity. “There are so many compelling handle on the purchase of rental properties,” says Britt. “Our investor clients are searching and buying Atlanta foreclosure properties at remarkable prices – then getting renters in at a breaking rent rate than someone who bought rental property 4 years ago.”

In fact, the long-term prospected for the rental market in a major metropolitan areas like Atlanta is excellent. This shift will slowly trend toward more stabilised rents as the number of available rental properties continues to decline. “Much of the real estate boom in the Atlanta included properties such as apartments, townhomes and apartment,” says Britt. “As those properties become rented and few rental options are available, landlords will have more leverage over their rental rat.”

REO Proformance Systems is a Gwinnett County-based real estate firm that specializes in foreclosure and short sales in the Gwinnett and North Fulton areas.

You can search for foreclosure properties for sale in Alpharetta, Duluth, Lawrenceville and many other Atlanta foreclosure real estate deals on their web site. You can reach them at 678-318-7911 to investigate selling your home via a short sale or if you are looking to buy a distressing property.

###

Attachments

©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Foreclosure Angel A woman buys a stranger’s foreclosed home… and gives it back to her. If you want to know more about this angel contact her on facebook and send her a message here: www.facebook.com Marilyn Mock Says ‘People Need to Help Each Other’ By JONANN BRADY Tracy Pottsboro lost her job and then her home when she couldn’t make mortgage payments. On Saturday, she watched as her home was auctioned off in Dallas. “The final farewell to my house,” Pottsboro said. “It means so much to all of us. It’s not just a house.” Auctions on foreclosed houses are an opportunity for some and agony for those who’ve lost their homes. From July through September of this year, more than 2700 Americans lost their homes to foreclosure every day, according to The Associated Press. In Texas, almost 9200 homes entered the foreclosure process in September. On Saturday, Pottsboro took her seat among the crowd, waiting for house No. 73 to be called. Marilyn Mock, a small-business owner from Rockwall, Texas, had accompanied her son, who was interested in buying a house, to the auction that day. Mock was sitting near Pottsboro and noticed that she was upset. “She was crying, and I asked her what is she upset about, and you know, she lost her house,” Mock said. When the No. 73 came up and the auction began, Mock said she asked Pottsboro, “Is it worth it?” “She said yes. & I just kept taking her word,” Mock said. Mock ended up winning the auction, with a bid of about 000. And just like that …
Video Rating: 4 / 5

Talk Radio: Mortgage interest rates, foreclosure, refinancing and real estate.
Video Rating: 5 / 5

www.kw.com Hello and welcome to This Month in Real Estate, I’m John Furber. Hello and welcome to This Month in Real Estate. I’m JOHN FURBER. Our top story A new survey reveals some surprising results about the power of being prequalified for a home loan. But first, the numbers. MAIN And now, our top story. According to KW research buyers who were prequalified had a significant negotiation advantage than buyers who made an offer with “subject to financing” conditions. More importantly, prequalification can protect buyers against a rate spike by locking in a rate for up to 60 days. If you’re looking for a negotiation advantage and the assurance that your interest rates are locked in, prequalification might be your first step. For more we turn to News You Can Use. Once you’ve made your offer and have completed the inspection process, you’re in the “home” stretch! But we’re not there yet! This is the time when many buyers put the transaction at risk. Here are just a few things to keep in mind as you head toward closing on your home … • Stay in control of your credit and finances. If you are tempted to make any large purchases during this time, it’s best to talk to your lender first. • Keep in touch with your agent and lender, returning all phone calls and completing paperwork promptly. • Verify with your lender that all mortgage funding steps are completed. • Confirm with your lawyer, lender and sales representative that you have all the documents and funds needed for …
Video Rating: 4 / 5

John Symond shares his thoughts on refinancing your loan and the options available to you. Aussie is Australia’s leading home loan and mortgage broker with more than 250000 customers. Aussie mortgage brokers find the right home loans for you. www.aussie.com.au
Video Rating: / 5