Georgia Mountain Real Estate VIEWS Category
Foreclosed Cabin For Sale In Blairsville GA – 261 Croft Mountain
Price Has Not Been Determined
Please contact Chad Lariscy at 706-994-8686 / [email protected] with any questions or concerns about this property or if you would like to schedule a Private Showing of this or any other property of interest here in the North Georgia Mountains.
Homebuilder Confidence Rises on Flurishing Sales Volume
Home Builder confidence is rebounding sharply.
Just one month after falling to a multi-month low, the Housing Market Index rebounded four points to 18 for October. It’s the highest reading for the HMI since May 2010 — the month after last year’s home buyer tax credit expiration.
The Housing Market Index is published monthly by the National Association of Home Builders and is scored on a scale of 1-100. Readings above 50 indicate favorable conditions for home builders. Readings below 50 indicate unfavorable conditions.
The index has been below 50 since May 2006 — a 66-month streak.
The Housing Market Index is a composite reading; the result of three separate surveys sent to home builders each month. Builders are asked about current single-family home sales volume; projected single-family home sales volume over the next 6 months; and current “foot traffic”.
In October, builder responses were stronger in all 3 categories :
- Current single-family sales : 18 (+4 from September)
- Projected single-family sales : 24 (+7 from September)
- Buyer foot traffic : 14 (+3 from September)
Meanwhile, of particular interest to today’s Blue Ridge GA Home Buyers is that builders expect volume to surge over the next two seasons. And, with current sales volume rising and foot traffic strengthening, the fall and winter months could be strong ones in the new homes market.
In addition, the builder trade group press release states that rising costs for materials are squeezing building profit margins.
For buyers, it all adds up higher home prices ahead. As builders grow more confident about the housing market, they’re less likely to make concessions on pricing or upgrades. Rising building costs fortify that argument. The “great deal” will be tougher to negotiate. At least mortgage rates are low.
Low mortgage rates are keeping homes affordable in the North Georgia Mountains and nationwide. If you’re looking for the right time to buy new construction, therefore, this month may be it.
Related articles
- Homebuilders Expect A Soft Winter Housing Market (thefrontporchview.com)
362 Ray Drive Blairsville, GA. 30512 – New Foreclosure For Sale
This is a Brand New Foreclosure For Sale located in a Gated Cabin Community not too far from Blairsville, GA. Incredible North Georgia Mountain Views from this 3 Bedroom, 3 Full Bath Cabin featuring a Detached 2 Car + Garage, Covered Front Porch, which has been very well maintained. Cathedral Ceilings, Rock Fireplace, Open Loft Area, and a Full Finished Basement.
The Price Has NOT Been Determined On This Property.
Please call me, Chad Lariscy at 706-994-8686 or email me at [email protected] for more detailed information or to be placed on a list to be notified as soon as this property hits the MLS and a price has been determined.
Related articles
- 54 Rocky Road – New Foreclosure For Sale In Blairsville, GA. (thefrontporchview.com)
- Recent Price Reduction On This Blairsville Foreclosure For Sale (thefrontporchview.com)
Foreclosure Rate Continues To Drop For A Year
Foreclosure activity continues to slow throughout the United States, as well as here in the North Georgia Mountains as well.
According to data from RealtyTrac, a national foreclosure-tracking firm, the number of foreclosure filings dipped below 215,000 in September 2011, a 6 percent decrease from August.
A “foreclosure filing” is defined as any foreclosure-related action including Notice of Default, Scheduled Auction, or Bank Repossession.
September marks the 12th straight month in which foreclosure filings fell year-over-year.
There are several reasons why foreclosure filings are down, including an increase in the amount of time it takes banks to move a foreclosure through its pipeline. It now takes a nationwide average of 336 days from the date of initial default notice to bank repossession.
Some states work quicker than others, however, because of a combination of state law and personnel.
Homes in New York take an average of 986 days to foreclose, for example, the longest in the country. Homes in Texas foreclose the quickest, registering just 86 days.
As in prior months, bank repossessions remain concentrated by state. Just 6 states accounted for half of the country’s REO last month:
- California : 16.6 percent
- Georgia : 8.5 percent
- Florida : 8.3 percent
- Texas : 6.2 percent
- Michigan : 6.1 percent
- Illinois : 5.2 percent
Collectively, these 6 states represent just 36 percent of the nation’s population.
By contrast, the bottom 6 states were home to just 192 repossessions last month — 0.3% of the national total. Those 6 states were Alaska, Wyoming, District of Columbia, North Dakota, South Dakota, and Vermont.
For Home Buyers in Blairsville GA, shopping for foreclosed properties can be an excellent way to get “a deal”. Foreclosed homes typically sell at discounts as compared to “non-foreclosed” homes, but are often sold “as-is”. This means that homes listed for sale may be defective or out-of-code.
Before placing a bid on a foreclosed home, make sure that you’re represented by an experienced real estate professional.
Related articles
- Annual Foreclosure Filings Down For 11th Straight Month (thefrontporchview.com)
- Foreclosures Sink To 4-Year Low (thefrontporchview.com)
Freddie Mac’s Mortgage Rates Drop Below 4%
Mortgage rates have dropped past 4 percent.
For the first time in more than 40 years, data from Freddie Mac’s weekly Primary Mortgage Market Survey shows the average 30-year fixed rate mortgage falling below 4 percent, dropping to 3.94 percent nationwide. It’s the lowest average 30-year fixed reading in the survey’s history.
In addition, Freddie Mac shows the 15-year fixed and 5-year ARM making new all-time lows, too, falling to 3.26% and 2.96%, respectively.
It’s a great time to be shopping for a mortgage or buying a home in Hiawassee or Blairsville Georgia. Because mortgage rates are dropping, housing payments are dropping, too. As compared to 8 months ago, for every $100,000 borrowed, homeowners now pay $66 less principal + interest each month.
On a $300,000 mortgage, that’s $71,280 saved in 30 years.
Mortgage rates have been lower for several reasons, some of which include :
- U.S. economic growth has been slower-than-expected
- Uncertainty surrounds Greece and the Eurozone
- The Federal Reserve’s “Operation Twist“
In general, demand for mortgage bonds has been high and that’s caused mortgage rates to fall. It should be noted, however, that although the 30-year fixed rate mortgage fell below 4 percent this week, the amount of discount points required to lock that rate rose by 10 basis points, or $100 per $100,000 borrowed.
Homeowners in the North Georgia Mountains are paying bigger fees for these lower rates. If you plan to move within a few years, these fees may wipe out your low-rate savings.
As you shop for a mortgage, pay attention to more than just rates. Low rates are great, but not when they come with high costs. Talk to your loan officer for help with making a plan than works for you.
Related articles
- Choosing A 15-Year Fixed Rate Mortgage Over A 30-Year Fixed Rate Mortgage (thefrontporchview.com)
- Have Mortgage Rates Hit The Bottom? (thefrontporchview.com)
