By Michelle E. Shaw

The Atlanta Journal-Constitution

9:32 p.m. Wednesday, August 12, 2009

The median sale price of a single-family home in metro Atlanta rose from the first quarter to second quarter of the year but remained well below year-ago levels, the National Association of Realtors says.

The median price was $121,400 in the three months that ended June 30, up 5 percent from $115,600 in the three months ended March 31. The current median price is 23 percent lower than it was this time last year, $158,300, according to figures released Wednesday by the association.

The median is the mid-point for all sales; half of homes sold were priced higher, and half were priced lower. A rise in foreclosures and other distress sales, coupled with a slow market for mid- and upper-price sales, depresses the median.

Though the price is still down year-over-year, quarterly improvement is progress in the right direction, housing analysts say.

“The real key will be year-over-year increases, but the quarterly movement shows things are moderating,” said Steve Palm, president of the Marietta real estate research firm SmartNumbers. “The numbers have been edging up since February, and quarterly progress is good to see.”

Nationally, 129 out of 155 metropolitan statistical areas saw second-quarter declines in median existing single-family home prices, compared to same period the year before. Twenty-six areas had price gains.

Median sale prices are lower than typical home valuations in many parts of the metro area because of market conditions.

“Recently sold homes are concentrated in lower price ranges,” said Lawrence Yun, chief economist for the Realtors’ association. “The median price may not be representative of overall values in a given area because many middle priced homes are not on the market.”

Foreclosures and sales for less than the loan value accounted for 36 percent of transactions across the country in the second quarter, according to the association. The national median existing single-family price was $174,100, down 16 percent from the second quarter of 2008, the release said.

Sales volume, declined 4 percent in Georgia in the second quarter from the first, and 5 percent year over year, according to the report. But 39 states had sales increases from the first quarter, and nine had year-over-year improvements, the association said.

The U.S. Department of Housing and Urban Development’s (HUD) Neighborhood Stabilization Program (NSP) was established to stabilize communities that suffer from foreclosures and abandonment. Under the program, HUD has distributed nearly $4 billion to state and local housing authorities for the purchase and redevelopment of foreclosed and abandoned homes.
Fannie Mae supports the Neighborhood Stabilization Program and is working with public entities and nonprofits to match their interests with Fannie Mae’s REO inventory.
Call your experts at Prime Real Estate to learn more about how this can help you make smart investments today. 404-685-3774 or visit www.atlprime.com and click ‘search foreclosures’ for the best deals in the city.

There has never been a better time to invest in real estate.  With so much trepedation in the stock market and real estate prices at bargain levels there has never been a better time to get in.  Buy low and sell high has never been a more valid approach.  Interest rates are fantastic too.  With this combination, smart investors are moving to investments they can see, feel and touch. 

Everyone needs a place to live, so many are buying rental properties at bargain basement prices and look for great appreciation and equity builds for their weakened portfolios.  We are already seeing prices stabilize in the Atlanta real estate market, while there is still incredible uncertainty in most other investment venues.  Call on your top producers and experts at Prime Real Estate in Atlanta’s midtown for all your real estate needs.

In this market more than ever, you need an expert to help you get your home sold too.  Maximizing your vaue and positioning is critical to moving property in today’s marketplace.  Smart sellers are calling on their Prime Real Estate selling agents to get their homes sold at the best possible prices.  Positioning, presentation and follow through are critical. No one knows this better that your ally at Prime Real Estate.

Contact us today at (404) 685-3774, or visit our web site at www.atlrpime.com.

There are a lot of INCREDIBLE deals out there right now for buyers and investors in the foreclosure market.  Many are taking advantage of nearly 50% discounts on these great properties.  Prime Real Estate is a foreclosure selling specialist and your best ally in getting the right property.  Contact your Prime Real Estate sales associate to get directed toward the right homes in Atlanta that are incredible deals for investors, homeowners and all other buyers alike.

You can see out current inventory at www.atlprime.com.  However, we have access to mant great properties before they hit the market, so calling a specialist for a sneak preview of what is coming gets you ahead of the game.  Of course we can also research many other great deals that are out there undetected to the typical eye.

Call our office at 404-685-3774 or email your Prime Real Estate associate today!  There has never been a better time to buy than today.  Atlanta is one of the top 10 markets in the United States and is poised for explosive growth going forward.  Get your slice of success today.

Today, April 27th, 2008 is the last day to see the nearly 700 homes up for auction in Atlanta.  The auction will be on May 4, 5 & 6th at The Georgia World Congress Center.   You can pick up information on the properties at the PRIME REAL ESTATE office located in Ponce Spring Lofts at 620 Glen Iris Drive, Suite 102, Atlanta, GA 30308.  Or contact a PRIME REAL ESTATE sales specialist to get the information.

These homes muse sell and many start bids at only $1000.  The Prime team also has many resale homes ready for move in.  Contact any of the Prime specialists for the perfect property in Atlanta and beyond.  Also, keep a look out for our developer projects in Darien, Coastal Georgia, Buckhead and Sandy Springs.  There are a lot of great deals out there and now is the time to buy.  All market indicators tell us the housing market has hit the bottom and the time to buy is today.  Interest rates have never been better, nor have prices.  Get your PRIME REAL ESTATE today!

Call any PRIME agent for information on Auction properties in Atlanta.  These are foreclosures from Countrywide, Bank of New York, Bear Stearns and more.  Call or stop by.  620 Glen Iris Drive, Suite 102, Atlanta, GA 30308, (404) 685-3774, www.atlprime.com.

The end is approaching on the opportunity to  an end soon.  The final open houses will be this weekend April 26 & 27, 2008.  Over 600 homes are for sale startig at $1000.  Be sure you also have a PRIME agent to help you with your contract.  we are familiar with the process and it is at no cost to you.  Contact a PRIME agent today to get an information book and register. 

Some examples of homes for sale are:

1330 Nash Street, Atlanta, GA 30314 – a 3 Bedroom 2.5 Bath Home with approximately 1776 square feet which was previously valued at $213,000: the starting bid is $1000!

3777 Peachtree Road #1013, Atlanta, GA 30319 – 1 Bedroom 1 Bath Condo with approximately 903 square feet which was previously valued at $192,300: the starting bid is $49,000.

1536 Westwood Avenue, Atlanta, GA 30310 – 3 Bedroom 2.5 Bath home with approximately 2200 square feet which was previously valued at $320,000: the starting bid is ONLY $1000!

6269 Southland Drive Ridge, Stone Mountain, GA 30087 – 4 Bedroom 4 Bath with approximately 3900 square feet which was previously valued at $317,000: the starting bid is $99,000.

PRIME REAL ESTATE is excited to be working with REDC on the foreclosure close outs.  Call us today at (404) 685-3774 or visit our web site at www.atlprime.com.

The Auction will be held May 4,5,6 & 10 at The Georgia World Congress Center in Atlanta.  Liquidation deals are here!!!

PRIME REAL ESTATE is working with REDC, a national auction company, to  help liquidate many foreclosures in the Atlanta area.  In addition to out normal foreclosure listings, many of these properties will start bidding at $1000.  You can contact bru@atlprime.com for a list of properties in the auction.  Or you can visit www.ushomeauction.com for more information. 

Many of the homes are in good condition and will sell for pennies on the dollar.  Homes are available across the state at great prices.  We also have many listed foreclosures through Countrywide Home Loans and get new ones all the time.  Contact a PRIME agent for more information.

There are a large number of bank owned properties coming on the market for resale this year.  These are excellent opportunities for investment way under market value.  Most homes require a little rehab work, but it is well worth the effort.  As a selling agent specialist for Countrywide Home Loans, I have seen homes sell as low as $14,000.  We also have auction homes with bids starting at $1000. 

There are definitely some deals to be had out there for the savvy investor.  Contact a Prime Real Estate associate to find out how to get the best deal for yourself.  They are definitely there.  This is an excellent opportunity to get in the right property at an insane price.  Bank’s are desperate to clear their books and the prices reflect that. 

There are a few things to remember though when making an offer though.  All homes are sold ‘as is’.  A prequalification is required prior to making an offer, and a few complicated seller’s documents have to be signed to make it all happen.  It is always best to have a PRIME associate help you make sure you getting the right property at the right price and that all the paperwork is in your bet interest.  Contact a Prime Real Estate associate today at 404-685-3774 or through the ‘contact link’ on our web site at www.atlprime.com.