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The real estate market across the country has certainly seen tough times, and Atlanta has had it's problems with a high rate of foreclosures. It definitely is not the best time to be a Seller, but there are incredible opportunities for Buyers. I have seen homes two years ago that would have sold for well over a million selling for 1/3 to 1/2 off the original prices. This is even more so in the higher end properties that sell over 500K. Atlanta is one of those cities that had no real natural boundries, so developers kept going further out into the suburbs to build new constuction, golf communities included. With so many people coming into this area in the past the homes always sold, but this latest economic downturn really had everyone so nervous no one was buying homes. I've seen many quality Builders and local banks go under because of this. The great news for the consumer is there are incredible opportunities in about all the golf communities around Atlanta. You can find heavily discounted new construction homes mostly in the higher price ranges, and also foreclosures in many of the golf communities. I'm seeing banks put some homes on the market at 30-40% off what they had sold for in the past, and this usually causes multiple offers to come in and the home ends up selling for more than it was listed for. It's a great time to be a Buyer!!
--Ed Sams
August 28, 2009 02:06 PM
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