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Metro Atlanta Home Values Sink to 2000 Levels

Metro Atlanta Home Values Sink to 2000 Levels

ATLANTA -- The S&P Case-Shiller Index, released last week, shows home sale prices in Metro Atlanta are where they were 10 years ago.

A trip to one in-town neighborhood highlights the slipping values.

A tidy, freshly painted craftsman style bungalow sits across the street from the Zoo Atlanta with a sweeping view of the park. It's prime real estate for Grant Park, but the value of this house, like many houses across Metro Atlanta, has been steadily falling. Owners bought the home in 2002 for $266,500 but Fulton County tax records appraise it today at just $230,000, an $80,000 drop in value from 2009.

Sliding home values have landed Metro Atlanta back where it was exactly a decade ago. Whatever you paid for your house then is hopefully what you can get for it now.

Dekalb Foreclosure Registry Begins on October 27th

Atlanta, GA--  DeKalb County will launch its Foreclosure Registry, Wednesday, Oct. 27.  The DeKalb County Foreclosure Registry was established as a means to protect neighborhoods from becoming blighted as a result of the lack of adequate maintenance and security caused by the foreclosure crisis.

Creditors or mortgagees who foreclose on a property after Oct. 27 will have up to 30 days following the foreclosure sale to register the property with DeKalb County and pay a fee of $175.  Creditors or mortgagees located outside the geographical boundaries of Clayton, DeKalb, Fulton, Gwinnett, Henry, and Rockdale Counties are required to designate a local property agent located within these geographical boundaries to ensure security and maintenance of the property.

Mayor Reed and the Edgewood Community Celebrates Groundbreaking of 100 Affordable Homes

Atlanta, GA--  Columbia Townhomes at Edgewood will be one of Georgia’s first major projects funded by federal stimulus dollars through the Neighborhood Stabilization Program (NSP). The NSP awarded $2.7 million to the project to help redevelop communities that have suffered from foreclosures and abandonment.

Fulton County Awarded over $3 Million from HUD to Help Stabilize Neighborhoods and Help Home Buyers

Atlanta, GA-- In Atlanta, like many cities, there are entire neighborhoods underwater and in foreclosure. For some of them, the Neighborhood Stabilization Program has literally been a lifeline. Georgia just received $50 million for its third installment of the funds.

"All of the recipients of NSP1 money in the state of Georgia have obligated 100 percent their money," said Edward Jennings, the Southeast Administrator for Housing and Urban Development.

On Wednesday, Atlanta city officials announced that they're getting nearly $5 million as part of the new infusion of HUD money. It will give even more people access to homes that they might not otherwise be able to afford.

"Giving people hope for the future," said Rep. Hank Johnson. "It's a classic shift from Wall Street to Main Street.

Loan Modification Could be Good, but Short Sale is Better says 1 Expert

Atlanta, GA--  As more and more Atlanta homeowners find themselves in financial distress and are forced to make tough decisions regarding their homes and specifically their dropping values and ballooning mortgage payments, we turned to a housing expert to help us navigate this complex situation.

Marian Anthony is a real estate finance expert and author of Short Sale RUSH- A How To Guide for Nonperforming Assets.  According to Marian, a Short Sale is more advantageous than a Loan Modification or a Foreclosure because "the reduced payoff in a short sale releases you from the debt obligation." He states that a foreclosure will ruin the homeowner's credit, and "a loan modification actually builds a debt trap around the borrower, milking them for every last nickel."

With so much information and marketing dollars being spent on homeowners getting into Loan Modification programs which may keep you bogged in debt for years, take Marian's su