This week our focus is going to be on Area 14 (Alpharetta/Roswell on the east side of 400). Have you ever wondered how many Foreclosures are currently listed for sale in FMLS? What about the number of potential Short Sale listings, homes that are currently Vacant or homes that are Corporate Owned? Each of these property types represents what I would consider to be a property under some form of "Distress".
Today we will look at the number of "Distresed listings" as they relate to the total number of Active listings currently on the market. Properties that are in some for of "Distress" typically need to be sold as quickly as possible, and therefore often sell for a price that is lower than what a home that was not distressed might sell for. Therefore, an Area that has a high percentage of homes that are "Distressed" can often times have a negative impact on average sales prices and adversely affect a "Non-distressed" homeowner's overall value.
Unfortunately, there really isn't much a homeowner can do in regards to the number of "Distressed" homes available for sale in their area. However, it is important for them to be aware of this statistic as it could have a bearing not only on the length of time their home might be on the market but also on the amount they will most likely be able to sell it for. If you would like additonal information such as this about the Roswell/Alpharetta area or Dunwoody, Sandy Springs or Brookhaven, just let me know!
Proficiency in using internet is a great advantage in hunting valuable properties but then when it comes to getting down the details, consultation with a skilled agent is needed. An agent must know the latest trends in the market and must be knowledgeable of the current economic indicators.
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