The Decline of Foreclosure Properties in Athens is a Sign of Positive Growth

Looking to buy or sell a home in Athens, Georgia? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (706) 612-1094 for a FREE home buying or selling consultation to answer any of your real estate questions.

Update on Foreclosure Properties in Athens

If you live in Athens, you might be watching the market and trying to find a good foreclosure property to purchase. In this short video I will give you an update as to what is happening with foreclosure properties in our local real estate market here in Athens.

• In 2011 there were 1,035 foreclosures that sold in the Athens MLS.
• In 2012 there were 980 foreclosure properties being sold.
• 2013 saw only 602 foreclosure properties sold, which is around a 40% decrease from 2011.
• In the first quarter of 2013, there were 168 foreclosure properties being sold here in Athens.
• In the first quarter of this year, that number dropped to 110.

You can see that the number of foreclosures in Athens is decreasing as the market rebounds. We have seen much more new construction this year, and that is a sign of further improvement.

If you're thinking about buying a foreclosure property there are still some out there, and we know where to find them. We have marketing in place to catch motivated sellers that just want to get out quickly. You have the chance to buy these properties before they even hit the market.

Please feel free to contact me if you're looking for a foreclosure to buy. Also, don't hesitate to ask me about Athens real estate if you are looking to buy or sell other properties. I am always willing to meet with you and discuss your individual needs.

When You Own a Home, You Save Big with Tax Deductions

Looking to buy or sell a home in Athens, Georgia? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (706) 612-1094 for a FREE home buying or selling consultation to answer any of your real estate questions.

Things to Know Heading Into Tax Season

 

It's that special time of year again here in Athens - Tax season. You may gave gotten a refund or you may be paying an additional income tax, but either way I would like to share with you some things that deal with how real estate pertains to taxes. There are some things that you may or may not be taking advantage of, so I would like to tell you about them.

• If you're currently renting a home, you're missing out on a good tax deduction from the interest that you would pay on a mortgage. For example, if you itemize your taxes you are then able to write off the interest portion of your payment when you make your house payment.
• Let's say your house payment is $1,000 dollars a month. Over the course of a year let's just say that $8,000 dollars is the interest portion of that payment. So when you file your income tax you're able to deduct that $8,000 dollars from your income. So, if you're in a 25% tax bracket, you just saved yourself $2,000 dollars.
• If you're renting in Athens and thinking about buying, now would be a great time to do so. Not only is the market getting better and interest is low, you also get a tax benefit.
• Also, as you pay the principle, you build equity.
• This same tax deduction can be applied toward investment properties. If you want to shelter some income and buy rental property, that interest portion of your payment is also deductible.

I do have to tell you that I am not an accountant or a financial adviser, so before you take this to heart, please consult with these professionals. I am only offering some friendly suggestions for you heading into tax season. 

As always, if you need any help with buying, selling, or investing in Athens real estate, please give me a call and I would be happy to give you a hand.

Highlights from Gary Keller's Speech on our National Real Estate Market

Looking to buy or sell a home in Athens, Georgia? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (706) 612-1094 for a FREE home buying or selling consultation to answer any of your real estate questions.

I want to share with you a speech that Gary Keller gave at the Keller Williams Convention in Phoenix a few weeks ago. He spoke about the state of the real estate market in America, as well as other influences like the economy and inflation. I thought he had a lot of interesting things to say, and I'd like to share them with you.

Key Points from Gary Keller's Speech

• Over 5 million homes were sold in the US in 2013, which is the highest number since 2006: This is a bright sign for the future of our national market, and I think you may have noticed the market here in Athens starting to warm up a bit as well.
• Distressed sales - both short sales and foreclosures - are down dramatically:
• These kinds of sales made up 49% of the market in 2009, 40% of the market in 2011, but only 14% of the market in 2013.
• Since 2009, the percentage of short sales on the market is down by 35%.
• Buyers are finding their homes through different avenues:
• The internet is leading the way with 43% of homes found online.
• Real estate agents managed to find 38% of properties.
• Only 2% of people found their homes in a printed ad.
• Most people have been finding real estate agents through referrals of friends (40% of consumers), however:
• Only 12% of buyers used their previous agent again.
• Only 25% of sellers used their previous agent again.
• This is particularly unsettling to agents throughout the nation, but it only means that we need to step up our service and assure the satisfaction of our customers here in Athens and beyond. Your experience with us is valued, and 50% of our business last year came from former clients and referrals.
• How did properties sell?
• 88% of properties were sold through a real estate broker.
• 9% sold through a for sale by owner.
• 1% sold through an investor.
• The 9% of owners that sold their own homes was surprising to me. I realize these people were trying to save on commission, but it's been shown that hiring a realtor will get you a better price for a home whether you're buying or selling.

These are just a few of the things that caught my attention, so I hope this information has been helpful to you. If you have any questions or comments, or if you would like to talk to me about Athens real estate, please call me. You can reach me at (706) 621-6085 or you can visit www.justinwoodall.com