Atlanta Homebuyers Group Says Now is the Time for Homebuyers to Buy a REO or Short Sale in Georgia

Sept. 8, 2010 - PRLog -- According to Atlanta Homebuyers Realty Group, this might be the best time ever to purchase a bank owned or short sale property. Many real estate and finance professionals think the economy is at a stand still, therefore making it a perfect opportunity for renters, first time home buyers and investors to take advantage of the falling home prices.

FHA reports that 30-year fixed-rate mortgages (FRM) are averaging 4.32 percent (0.7 point) for the week ending September 2, 2010. That’s down from 4.36 percent last week. Rates for 15-year FRMs came in at 3.83 percent (0.6 point), according to the GSE’s study. Last week they were averaging 3.86 percent.

'If you are going to take advantage of the falling real estate prices, you need to quickly get your financing in place', says Lisa Jefferson. Broker/Owner of Atlanta Homebuyers Realty Group. Mortgage rates are at an all time low and you can still get an FHA loan with a small 3.5% down payment. With the ending of the federal and state tax credits for buying a home, banks and lenders are even more motivated to offer low prices to move their inventory of foreclosed homes.'

Banks and lenders are overwhelmed with inventories of vacant homes that must be maintained at their expense. Bank and lenders are motivated to move this inventory. In Metro Atlanta there are thousands of homes that are owned by Banks or are in the Short Sale process.

Over the next five years or so, there will be a steady supply of REO and short sale properties coming onto the market. Currently, nationwide, there are about six million borrowers in active default; about 12 million homeowners who have negative equity of 30% or more - upside down by at least 30%. Unfortunately, many of these will end as bank owned or short sale properties.

About Atlanta Homebuyers Group

Atlanta Homebuyers Realty Group is a full service Real Estate Company specializing in homebuyers and homesellers through the Metro Atlanta area. We have a large inventory of REO, HUD and Short Sale properties.  The Atlanta Homebuyers Group provides a broad array of real estate services including representing sellers in listings, buyers on the purchase of properties, home marketing for lenders and home managers. With decades of successful experience in the Atlanta Housing Market , we have worked with a wide range of individuals and companies, Atlanta Homebuyers Group can provide ALL the services needed for those looking to sell or purchase REO, HUD or Bank Owned properties.

Investors and buyers looking for great opportunities on a REO or short sale home listings can directly access the online listings of bank owned homes for sale at http://atlantahomebuyersrealty.homestead.com/Homebuyer-Re...

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Atlanta Homebuyers Realty Group is a full service Real Estate Company specializing in homebuyers and homesellers through the Metro Atlanta area. We have a large inventory of REO, HUD and Short Sale properties. The Atlanta Homebuyers Group provides a broad array of real estate services including representing sellers in listings, buyers on the purchase of properties, home marketing for lenders and home managers. With decades of successful experience in the Atlanta Housing Market , we have worked with a wide range of individuals and companies, The Atlanta Homebuyers Group can provide ALL the services needed for those looking to sell or purchase REO, HUD or Bank Owned properties.