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1-2-3 Credit & Me: Learn how you can Stabilize, Improve & Maintain your credit throughout your lifetime (Part of the Real Estate & Finance 360 Degrees Series of Books Book 6) by THOMAS (TJ) UNDERWOOD  | Sold by: Services LLC | Oct 19, 2020, updated Summer 2023

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Real estate markets are generally driven by local economic and political influences. Most markets are regional in their performance.

Most markets are regional in their performance. Paying too much attention to national indexes could be a big mistake. Many boom cycles have historically run in 7 to 10 year cycles.

Economic turns in the U.S. economy are also greatly influenced by the Federal Reserve Board of Governors setting the interest rates for borrowing.

Although not cited by most economist or forecastersit is my opinion that consumer confidence also plays a major role in driving real estate prices on a local and national level.

Also be aware of the effect of foreclosures on the market you are considering purchasing in!

The foreclosure epidemic is seriously impacting the Atlanta area with new subdivisions that were once under construction partially builtor building not yet started.

The increase in home sales do seem to be gaining momentum as of February 6, 2010. Much of the momentum, however, is due to an expansion of the federal program to move-up buyers and the $8,000 first-time homebuyer credit.

Georgia also offers a $1,800 dollar credit to make the purchase even sweeter.

In the metro Atlanta area, which comprises 16-counties, home sales improved due to the first time home buyers tax credit in the bottom price ranges, but did little to affect higher priced homes.

As home sales rise in the early part of the year the market will sell off much of its excess inventory if the trend continues. However once the tax credit expires in the summer expect to see a slow down.

In an effort to keep home sale momentum up there has been recent legislation to provide incentives to morgage holders and homeowners in the area of short sales.

Banks would receive incentives to accept less than what is currently owed on a loan and homeowners would receive cash incentives to leave the premises after a successful short sale.

I have yet to review the details, but if it is administered anywhere near the way the Home Ownership Loan Modification plan was handledI don't look to see great success.

I am not as optimistic as other market forecasters or Real Estate Brokers in the Georgia market.

It is my opinion that the foreclosure inventory will increase this year compared to a year ago. This is my educated guess just based on current activity with buyers and sellers based on the current economic environment we are now in.

Atlanta average home prices are forecast to decline 7.8% in 2010, much less than the market's loss the previous two years, but still a long way from turning around in any substantial way.

As of January 24, 2010 the national home market in general does not appear to be improving in a significant way.

It won’t really improve in my opinion until housing inventory levels off to close to the 2006 levels and the job market improves significantly. This does not look like it will happen in 2010.

I expect to see a slow housing market until at least 2013.

In Atlanta the real estate market is slowly recovering. The housing inventory in Atlanta is also falling which is good news for potential home sellers.

However, there are still great deals in Atlanta for the home buyer that does their homework and is "ready, willing, and able to buy."

The foreclosure modification program of 2009 (Home Affordable Modification Program) has proven to be a bust.

The number of lenders who participated in the successful modification of home mortgages was so small that the program has to be understood by even the most optimisticto be a total failure as far as reaching the stated aims.

The Major Metro Market Housing Forecast for 2010 indicates that the Atlanta Market will see a 7.8% declineas of February 2010.

This figure can change as it is updated throughout the year.


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Thomas (TJ) Underwood has been providing financial advice as a tax practitioner since the mid 1980’s and began his financial planning career (while earning a Bachelor of Science Degree in Business Administration/Finance/Marketing), in Detroit at Wayne State University.  From 2010 up to the present he continues to provide visitors timely personal finance and wealth building advice and articles—including real estate advice—on 3 sites that he has created since 2010. 

Even though he is an active real estate Broker in the Atlanta Metropolitan area, he continues to blog consistently to help visitors and those who desire lasting financial and life changing success the opportunity to change their life for the better in a more efficient way. 

You can learn more about him and gain access to all three sites that he has created by going to Who is the creator of page.

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