Over the last three quarters we have seen a steady decline in the number of short sale and foreclosure sales in the West Cobb market areas of West Marietta, Powder Springs, Acworth and Kennesaw. At the height six out of every ten sales were a foreclosure or short sale. This has steadily declined to four out of every ten sales.
What is interesting to not is that a good majority of the distressed sales in the West Cobb area were in the homes priced under $100,000 where 7 out of every 10 sales were distressed.
Depending on what price category your current home falls into, you may have serious competition from these distressed sales which will continue to put downward pressure on your homes value.
The good news is that as the number of distressed properties decline (and hopefully they will continue to decline) the West Cobb housing market values will not only stabilize but begin to see some slow appreciation.
My expectation is that after the holiday season, we will see more and more resale homes come on the market and we should see a robust Spring buying season. If inventory levels continue to remain low, prices will begin to creep up. Albeit, not at the rate we experienced during the boom years.
Find the few remaining great deals on homes priced