RealValuator is a program that I have access to that scours hundreds of websites and public documents to track foreclosures before, during and after they are on the market. These Cobb County Foreclosure Market reports are a great way to see a snap shot of real estate activity in a Cobb County. Today, I have broken down the data to give you a snapshot of what is happening in the West Cobb County Foreclosure Market. Specifically we will look at West Marietta Foreclosures, Powder Springs Foreclosures, Kennesaw Foreclosures, Acworth Foreclosures, and Smyrna/Vinings Foreclosures. Basically, all of the property west of Interstate 75. Today’s Cobb County Foreclosure report focuses on properties with a price range between $50,000 and $2,500,000.
The major trend to notice is the steady decrease in REO sales (244 sales), as compared to the steady amount of Market Sales (1,108 sales). With nearly a 4 to 1 margin, this is an indication that the market is getting closer to a correction where banks are moving less inventory, and the market is set to drive the inventory price.
This is great news for West Cobb home owners because it is an indication that the downward price pressures that we have seen for the last 4 to 5 years may be coming to an end. In my opinion, lower priced homes are going to experience recover sooner because there is higher demand for these homes and less inventory than the Cobb County homes for sale above $250,000. If you are in the market to buy a home and you were thinking about pursuing a good foreclosure deal, I recommend you get off your rump and give me a call. The good deals are becoming fewer and fewer and they are selling faster and faster!!!