Atlanta Real Estate Blog

I found this interesting too – I did not know Sandy Springs was the singles Mecca it is – but with the Northside hospital complex nearby and all the young interns that attracts, it makes sense! For the single gentlemen, I do know that nearby Vinings has a high population of single women homeowners – 3-4 ladies for every man!

Anyway, Money Magazine rated Sandy Springs, GA #4 out of 25 affluent US cites where singles are abundant!

Money Magazines Description of Sandy Springs:

Charming Southern gentlemen and sweet Georgia peaches in this Atlanta suburb are making the rounds at one of three major hospitals in the area or running operations at a Fortune 500 company like United Parcel Service or Newell Rubbermaid. Thanks to the natural springs the city is named for and the Chattahoochee River that flows through it, Sandy Springs offers a tranquil and peaceful setting for romance to blossom. After taking a stroll along the riverbank, head to Buckhead, Atlanta’s vibrant uptown district, for a night on the town. –H.Y.

I agree – young doctors and interns will find Sandy Springs very convenient to the major hospital complexes at Northside, St Josephs, and Emory!

A few stats:

Population: 82,674

Single: 35.6% – (that’s a high ratio of singles)

Median family income: $115,171 (That ranks in the top 25 of all 100 Best Places Cites)

Median Home Price: $380,000

Whether you’re a Grey’s Anatomy type in the medical field, rich, middle income, single or married, I can help you get a superb deal on prime Sandy Springs, GA real estate – from $200,000 to $10,000,000 – just reach out to me at 678-585-9691!
Robert

By Robert Whitfield

Update: Foreclosures, Short Sales and Deed in Lieu Actions

As foreclosure moratoriums provided temporary relief to troubled borrowers earlier this year, two other kinds of home forfeiture–short sales and deed-in-lieu-of-foreclosure actions — rose sharply.

In a mortgage study released in early July, federal financial regulators reported a 176% jump in short sales and deed-in-lieu proceedings from the first quarter of 2008 to the first quarter this year.

Short sales and deed-in-lieu actions require borrowers to forfeit their homes to eradicate their mortgage debts, usually for less than the full amount owed. Both these actions require the lenders approval.

Selling a home or handing it back to the bank in this manner does less damage to a borrower’s credit rating than a foreclosure, and is less of a hassle for the lender.

Year-over-year first-quarter short sales jumped from 5,523 to 17,036, according to the report from the Comptroller of the Currency and Office of Thrift Supervision, the U.S. Treasury Department agencies that oversee banks and S&Ls.
Quarterly deed-in-lieu actions (voluntarily giving your home back to the lender to avoid foreclosure action) edged up from 1,065 to 1,158.

Completed foreclosures still far outnumbered the alternate forfeitures. They totaled 78,936, up from 76,548 in the year-earlier quarter but far below the high of 126,266 in the third quarter of 2008.

But things are NOT getting better. In fact, they will probably get worse.

Foreclosure statistics are expected to spike again soon as federal, state, local and lender-imposed moratoriums expire.
The regulators said their report covered 64% of current home loans in the United States. Astonishingly, they noted that most of the short sales involved borrowers with prime loans, not subprime or alt-A mortgages!

Whether you’re an investor, second home buyer, or a first time home buyer, you don’t need a Doctorate in Economics to see this market is a golden opportunity! Now is the time to buy real estate – and because of the new first time buyer $8500 tax credit (which does not have to be paid back) on home purchases through the end of 2009, now may be the best opportunity first time buyers will ever see to get into a home.

We are not just talking about deals – there are literally Steals out there in all price ranges and property categories – if you know where and how to look. This opportunity includes starter homes, residential and commercial investment properties, luxury homes, second and retirement homes in costal and mountain resort areas and everything in between.

Those who can take advantage of the market now will reap great rewards for years to come as they simply ride the tide of rising values over time – and the market will come back and values will rise as it always has after every economic downturn in history.

I can help you buy your next Atlanta Home, Atlanta Luxury Home, Atlanta Investment Property, and now even Costal and Mountain Resort Properties (more in a future blog) – give me a call to learn more!

Robert Whitfield