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According to Standard & Poor’s/Case-Shiller home-price index, Atlanta is one of many cities that are still experiencing drops in home sales prices.  This is good for investors that are still looking to buy in the Atlanta market.  Here are a couple of articles that are discussing the trend in Atlanta:

http://finance.yahoo.com/news/us-home-prices-drop-6th-130235133.html

http://blogs.smartmoney.com/advice/2012/04/19/cities-with-the-least-realistic-home-sellers/2/

Blog Post by John Durham, Marketing Director with Excalibur Home Management, an Atlanta Property Management Company.

© How Stuff Works

Here in the Southeast, termites are a homeowner’s worst nightmare.    Termite “swarming season” is upon us.  This usually occurs the first few warm days between March – May.  The flying termites are actually male and female reproductive termites that are mating and creating new colonies.  Once mated, the queens quickly move into the ground and begin laying eggs.  Thus a new colony is formed.  If you are seeing swarms around or in your home then that is a pretty good sign you have a termite infestation. 

There are 3 basic ways to treat termites: baiting system, liquid treatment with nonrepellents, and liquid treatment with repellents.  The baiting system is installed around your home and monitored quarterly.  Average cost of the baiting system ranges from $250-$700 depending on the size of the home and cost for the quarterly inspection ranges from $65-$125.  Typically, a liquid treatment can cost anywhere between $4-$10 per exterior linear foot of the home.  Treatments should come with a 5-7 year guarantee with annual inspections (cost is usually around $100-$150).  A termite treatment usually comes with one of two types of guarantees, a retreatment only or retreatment/repair guarantee. 

Of course, just because you don’t have active termites in your home doesn’t mean you shouldn’t be worried.  Termites can strike at anytime, especially here in Georgia, so the best offense against termites is a good defense.  Have your home inspected for termites annually to prevent infestations and major damage. 

Here is a video that explains a little more about termites: 

[youtube=http://www.youtube.com/watch?v=WZ_KKZoRzos] 

Excalibur, an Atlanta property management company, is the leader in the leasing, property management and sales of single family rental homes in Metro Atlanta area.

Blog Post written by Mike Nelson, President of Excalibur Home Management, LLC

According to research performed by Zelman & Assoc. the U.S. is experiencing annual growth in the number of households being created of 1.5 million per year.  In a “normal” market we would need to increase the number of homes (apartments, houses, etc.) available at the same rate.  Obviously we are not in a “normal” market.  Today we have over 1.5 million vacant units.  We are only building about 300,000 new units per year.  And we still have several hundred thousand units that still need to go through the foreclosure pipeline (it’s difficult to estimate a precise number).  At this pace we should be able to fully absorb these vacant, and soon to be foreclosed, units around 2015. 

All of this assumes we don’t experience any other significant economic “hits” like a collapse of the European economy, significant natural disasters, or a significant increase in inflation.  In short, it will be a while before we get back to normal. 

That’s why this could be a great opportunity for you.  If you have some cash, this is a great time to buy a home or invest in a rental house.  You are familiar with the expression “buy low, sell high”?  Well, this is LOW.  Don’t miss out.  Give us a call so we can help you find a great deal!  Call Excalibur at 678-825-0425.

Blog Posted by John Durham, Marketing Director with Excalibur Home Management.

The foreclosure pipeline has never been more crammed, with lenders attempting to push 2.2 million homes through the process as of the end of October, according to a monthly report issued by Lender Processing Services Inc.

Foreclosure starts jumped 5.7 percent from September to October, to 232,865, LPS said. But the report also showed significant improvement in the long-term outlook for foreclosures.

The number of borrowers who were behind on their loans by at least 90 days but who were not yet in foreclosure at the end of October dropped by nearly 19 percent from January, to 1.76 million. That’s a 42.5 percent drop from a peak of 3.06 million in January 2010.

Compared to January, the number of homeowners behind by just one payment also dropped 7.4 percent, to 1.66 million, and 60-day delinquencies were down 11.8 percent, to 665,804.

Delinquencies of all types (30-day, 60-day and 90 days or more) were down 13.6 percent from January to October, to 4.08 million, while the number of homes in foreclosure increased by less than 1 percent.

The number of homes that were either in the foreclosure process or delinquent by 90 days or more fell 9.2 percent, to 3.97 million in October.

One reason the foreclosure pipeline is so full is that it’s taking so long for lenders to begin foreclosure proceedings on seriously delinquent loans, and also to move homes through the process after an initial foreclosure notice is filed.

Homeowners who were behind on their payments by 90 days or more were 388 days delinquent, on average, in October, compared to an average 344 days in January 2011 and 257 days in January 2010.

Homeowners in foreclosure in October hadn’t paid their mortgage for 631 days, on average, compared to 523 days in January 2011 and 410 days in January 2010.

In judicial foreclosure states where courts handle foreclosure proceedings, the “robo-signing” scandal has slowed both initial foreclosure filings and the foreclosure process itself.

LPS said foreclosure sale rates in nonjudicial states have been proceeding at four to five times that of judicial.

The top 10 states with the largest year-over-year decline in noncurrent loans percentages were all nonjudicial foreclosure states, as lenders in those states have been more able to move seriously delinquent loans into foreclosure.

Meanwhile, foreclosure starts actually declined in October in nonjudicial foreclosure states, suggesting lenders have largely worked their way through backlogs.

It is time to start preparing for freezing temperatures and Excalibur recommends having your property professionally winterized if it is vacant and not yet on the market.  Here is a list of items that should be addressed:

- Drain all water supply lines and water heater

- Put antifreeze (usually a RV type antifreeze) in drains and toilets

- Inspect roof and gutters to make sure they are in good repair and clean

If at all possible, the heat should be left on set at no less than 55 degrees.  While this will no doubt have a small cost associated with it; it is nothing compared to the cost of a repair due to damage resulting from frozen pipes, etc…  It is also a good idea to insulate any exposed pipes including water lines and hose bibs, as well as, the hot water heater.

For properties that are vacant and on the market for rent it is best to have the heat on and water on.  It will market better to prospective buyers and tenants if they are focused on the property as opposed to how cold it is inside.  It will also be necessary to have the water on to clean the property and inevitably someone will need to use the bathroom from time to time during showings.  In these situations, the heat will be on at a minimum (55 degrees) to protect against freezing pipes and to keep the property in showable condition.  Please contact your property manager for more information about having your property winterized today.  Don’t wait until it is too late.

Blog Post by John Durham, Marketing Director with Excalibur Home Management
Excalibur is an Atlanta Property Management company