About a Third of Atlanta Foreclosures Selling at or Above List Price

By
Real Estate Agent with Atlanta Communities Real Estate Brokerage GREC #208281

I'm seeing a lot of foreclosures being priced very aggressively.  It's creating multiple offer situations.  I am working with a buyer right now who has been beat out of a foreclosure deal by someone else four times over the past few months.

He tells me that if it's a "buyer's market" why should he have to pay any where near asking price.  It has been very frustrating.  I began wondering if it was just bad luck on  my part that just about every "great deal" that I find for my buyers is getting competing offers.

So I did a small analysis. I searched for single family detached foreclosures that have sold in the past 30 days that are in the northern half of Atlanta above $100,000.  What I found was that the 325 sales had a average sales/list price ratio of 92%.  Also, 106 of those 325 sales sold for the list price or above. So about 1 out of 3 foreclosures are getting full price. 

Sometimes looking at the raw data gives people a better feel for what's going on.  So here is the data for those foreclosure sales just so you can see for your own eyes what's actually going on.  

List Price Sale Price Activity Date Sales price - list price
$1,089,900 $900,000 5/19/2009 ($189,900)
$805,000 $690,000 5/19/2009 ($115,000)
$799,900 $730,000 5/13/2009 ($69,900)
$769,900 $659,000 5/11/2009 ($110,900)
$550,000 $510,000 6/3/2009 ($40,000)
$475,900 $477,900 5/19/2009 $2,000
$346,000 $325,000 5/26/2009 ($21,000)
$288,900 $275,900 5/8/2009 ($13,000)
$248,900 $242,000 5/26/2009 ($6,900)
$204,900 $190,000 5/29/2009 ($14,900)
$149,900 $146,650 6/2/2009 ($3,250)
$139,900 $94,900 5/18/2009 ($45,000)
$139,900 $146,000 5/19/2009 $6,100
$599,900 $595,000 6/3/2009 ($4,900)
$475,000 $480,000 5/18/2009 $5,000
$429,000 $425,000 5/11/2009 ($4,000)
$400,000 $391,000 5/6/2009 ($9,000)
$305,000 $350,000 5/14/2009 $45,000
$279,900 $276,200 5/7/2009 ($3,700)
$249,900 $225,000 5/14/2009 ($24,900)
$219,900 $215,000 5/21/2009 ($4,900)
$209,900 $216,900 5/18/2009 $7,000
$186,300 $180,000 5/8/2009 ($6,300)
$181,900 $173,800 5/29/2009 ($8,100)
$179,900 $174,900 5/27/2009 ($5,000)
$175,900 $175,000 5/21/2009 ($900)
$129,900 $130,000 5/6/2009 $100
$110,000 $110,000 5/8/2009 $0
$1,299,000 $1,099,000 5/18/2009 ($200,000)
$939,000 $851,000 5/12/2009 ($88,000)
$891,900 $768,000 5/28/2009 ($123,900)
$249,900 $230,900 5/27/2009 ($19,000)
$899,900 $750,000 5/27/2009 ($149,900)
$309,900 $284,500 5/20/2009 ($25,400)
$209,900 $212,000 6/3/2009 $2,100
$199,900 $226,000 5/6/2009 $26,100
$188,155 $186,000 5/29/2009 ($2,155)
$142,500 $143,900 5/21/2009 $1,400
$139,999 $142,250 5/18/2009 $2,251
$129,500 $123,500 5/18/2009 ($6,000)
$280,900 $260,000 5/27/2009 ($20,900)
$259,900 $245,000 6/1/2009 ($14,900)
$239,000 $210,000 5/18/2009 ($29,000)
$121,900 $105,000 5/7/2009 ($16,900)
$689,900 $639,999 5/21/2009 ($49,901)
$640,000 $515,000 5/8/2009 ($125,000)
$552,900 $533,000 5/7/2009 ($19,900)
$445,500 $426,125 5/20/2009 ($19,375)
$215,000 $207,000 5/15/2009 ($8,000)
$130,000 $130,000 5/27/2009 $0
$275,000 $260,000 5/21/2009 ($15,000)
$212,000 $200,000 5/12/2009 ($12,000)
$199,900 $175,000 5/20/2009 ($24,900)
$184,900 $187,000 6/4/2009 $2,100
$543,900 $512,005 5/20/2009 ($31,895)
$104,000 $104,000 5/6/2009 $0
$1,499,000 $1,274,150 5/18/2009 ($224,850)
$979,900 $859,000 5/7/2009 ($120,900)
$789,000 $700,500 5/29/2009 ($88,500)
$709,900 $650,000 5/22/2009 ($59,900)
$699,000 $659,000 5/14/2009 ($40,000)
$649,900 $629,900 5/29/2009 ($20,000)
$459,900 $459,900 5/21/2009 $0
$449,900 $449,900 5/18/2009 $0
$439,900 $390,000 5/12/2009 ($49,900)
$389,900 $362,450 5/19/2009 ($27,450)
$364,900 $355,000 5/19/2009 ($9,900)
$319,000 $329,000 5/21/2009 $10,000
$274,900 $270,000 5/7/2009 ($4,900)
$249,900 $218,000 5/20/2009 ($31,900)
$213,500 $211,000 5/6/2009 ($2,500)
$205,000 $205,000 5/14/2009 $0
$189,900 $152,250 5/20/2009 ($37,650)
$189,900 $183,200 5/6/2009 ($6,700)
$189,900 $180,000 5/18/2009 ($9,900)
$184,900 $184,900 5/6/2009 $0
$179,900 $179,000 5/27/2009 ($900)
$179,900 $179,900 6/3/2009 $0
$175,000 $173,000 6/3/2009 ($2,000)
$169,900 $165,000 5/6/2009 ($4,900)
$162,000 $148,000 5/6/2009 ($14,000)
$159,900 $165,000 5/11/2009 $5,100
$159,650 $164,300 5/8/2009 $4,650
$154,900 $169,900 5/22/2009 $15,000
$153,000 $153,000 5/20/2009 $0
$150,000 $151,000 5/28/2009 $1,000
$145,900 $150,500 5/22/2009 $4,600
$139,900 $132,500 5/13/2009 ($7,400)
$139,900 $145,000 5/18/2009 $5,100
$132,900 $132,900 5/14/2009 $0
$131,900 $130,900 6/3/2009 ($1,000)
$127,591 $127,591 5/27/2009 $0
$122,000 $121,400 5/18/2009 ($600)
$117,300 $105,000 5/11/2009 ($12,300)
$115,000 $106,000 5/8/2009 ($9,000)
$114,900 $116,600 5/7/2009 $1,700
$113,900 $117,500 5/26/2009 $3,600
$106,900 $106,900 5/20/2009 $0
$422,900 $407,500 5/15/2009 ($15,400)
$399,900 $400,000 6/3/2009 $100
$389,000 $370,000 6/4/2009 ($19,000)
$385,000 $370,000 5/8/2009 ($15,000)
$324,900 $320,000 6/1/2009 ($4,900)
$289,000 $192,700 5/29/2009 ($96,300)
$287,500 $239,000 5/15/2009 ($48,500)
$274,500 $229,750 5/18/2009 ($44,750)
$245,000 $215,340 5/11/2009 ($29,660)
$239,900 $230,000 5/11/2009 ($9,900)
$213,900 $217,000 5/20/2009 $3,100
$199,900 $197,000 6/1/2009 ($2,900)
$189,900 $192,000 5/29/2009 $2,100
$187,900 $187,900 5/6/2009 $0
$184,900 $173,000 5/29/2009 ($11,900)
$184,500 $184,500 5/6/2009 $0
$179,900 $155,000 5/12/2009 ($24,900)
$179,900 $145,000 6/4/2009 ($34,900)
$177,000 $177,000 5/26/2009 $0
$161,500 $154,000 5/19/2009 ($7,500)
$159,900 $165,795 5/6/2009 $5,895
$159,900 $151,000 5/29/2009 ($8,900)
$156,800 $156,800 5/14/2009 $0
$155,000 $147,500 5/13/2009 ($7,500)
$154,900 $160,500 5/8/2009 $5,600
$152,900 $153,000 5/12/2009 $100
$149,900 $149,900 5/6/2009 $0
$139,999 $130,000 6/3/2009 ($9,999)
$129,900 $129,900 5/26/2009 $0
$123,500 $125,000 5/29/2009 $1,500
$123,200 $126,200 5/14/2009 $3,000
$119,900 $117,500 5/13/2009 ($2,400)
$119,900 $124,500 5/13/2009 $4,600
$119,000 $118,000 5/7/2009 ($1,000)
$114,900 $127,000 5/18/2009 $12,100
$114,500 $103,000 5/7/2009 ($11,500)
$109,900 $109,900 5/20/2009 $0
$109,900 $105,000 5/13/2009 ($4,900)
$102,900 $95,500 5/19/2009 ($7,400)
$102,500 $105,000 5/19/2009 $2,500
$101,600 $92,400 5/19/2009 ($9,200)
$300,000 $321,000 5/7/2009 $21,000
$261,300 $259,350 5/22/2009 ($1,950)
$214,900 $206,000 6/3/2009 ($8,900)
$204,900 $190,000 5/13/2009 ($14,900)
$203,000 $197,500 6/3/2009 ($5,500)
$193,900 $177,000 5/6/2009 ($16,900)
$189,900 $200,000 5/15/2009 $10,100
$184,900 $175,000 5/15/2009 ($9,900)
$174,900 $178,125 5/28/2009 $3,225
$160,000 $156,500 5/19/2009 ($3,500)
$149,999 $153,000 5/6/2009 $3,001
$144,000 $136,800 5/29/2009 ($7,200)
$140,087 $138,000 5/11/2009 ($2,087)
$140,000 $140,000 5/11/2009 $0
$134,900 $140,900 5/12/2009 $6,000
$121,900 $137,000 5/13/2009 $15,100
$120,900 $124,500 5/14/2009 $3,600
$118,000 $121,000 5/18/2009 $3,000
$109,900 $95,000 5/14/2009 ($14,900)
$109,300 $104,900 5/14/2009 ($4,400)
$105,000 $105,000 5/7/2009 $0
$104,900 $98,925 5/11/2009 ($5,975)
$209,900 $218,511 5/21/2009 $8,611
$159,900 $160,000 6/3/2009 $100
$149,200 $140,000 5/26/2009 ($9,200)
$141,312 $115,500 5/7/2009 ($25,812)
$134,900 $110,000 5/19/2009 ($24,900)
$132,900 $115,700 5/29/2009 ($17,200)
$130,500 $130,500 5/13/2009 $0
$123,900 $119,000 5/14/2009 ($4,900)
$119,900 $119,000 5/11/2009 ($900)
$119,900 $109,000 5/26/2009 ($10,900)
$109,900 $112,000 5/8/2009 $2,100
$104,900 $119,900 5/29/2009 $15,000
$469,900 $467,285 6/3/2009 ($2,615)
$449,900 $435,000 6/2/2009 ($14,900)
$325,000 $275,000 5/26/2009 ($50,000)
$299,900 $298,000 5/6/2009 ($1,900)
$275,000 $270,000 5/20/2009 ($5,000)
$239,900 $238,900 5/13/2009 ($1,000)
$235,000 $226,250 5/14/2009 ($8,750)
$224,900 $195,000 5/22/2009 ($29,900)
$154,500 $150,000 5/11/2009 ($4,500)
$139,900 $93,500 5/12/2009 ($46,400)
$135,000 $130,000 5/14/2009 ($5,000)
$119,900 $116,600 5/18/2009 ($3,300)
$114,900 $112,000 5/14/2009 ($2,900)
$109,900 $116,000 5/26/2009 $6,100
$109,600 $102,500 5/29/2009 ($7,100)
$109,250 $105,000 5/29/2009 ($4,250)
$106,900 $80,000 5/29/2009 ($26,900)
$102,900 $102,000 5/15/2009 ($900)
$535,900 $425,000 5/29/2009 ($110,900)
$529,900 $497,500 5/18/2009 ($32,400)
$521,500 $475,290 5/20/2009 ($46,210)
$465,000 $420,000 5/7/2009 ($45,000)
$449,000 $420,000 5/27/2009 ($29,000)
$429,900 $419,000 5/7/2009 ($10,900)
$427,900 $400,000 5/26/2009 ($27,900)
$309,985 $309,985 5/27/2009 $0
$259,900 $260,000 5/11/2009 $100
$241,900 $241,900 6/2/2009 $0
$235,000 $240,000 5/12/2009 $5,000
$224,900 $224,000 5/28/2009 ($900)
$217,400 $236,000 5/18/2009 $18,600
$193,900 $196,000 5/6/2009 $2,100
$179,900 $160,000 5/6/2009 ($19,900)
$176,300 $183,000 5/20/2009 $6,700
$170,900 $170,900 5/13/2009 $0
$169,900 $152,500 5/20/2009 ($17,400)
$140,500 $113,000 5/8/2009 ($27,500)
$549,900 $460,000 5/12/2009 ($89,900)
$210,000 $227,000 5/20/2009 $17,000
$209,900 $203,500 5/19/2009 ($6,400)
$199,900 $182,000 5/6/2009 ($17,900)
$198,000 $195,000 5/28/2009 ($3,000)
$175,900 $175,000 5/8/2009 ($900)
$151,900 $176,000 5/21/2009 $24,100
$145,000 $135,000 5/13/2009 ($10,000)
$142,500 $131,000 6/2/2009 ($11,500)
$139,900 $139,900 5/18/2009 $0
$122,900 $122,000 5/19/2009 ($900)
$122,500 $122,500 5/8/2009 $0
$599,000 $525,000 5/20/2009 ($74,000)
$599,000 $540,000 5/12/2009 ($59,000)
$180,000 $183,000 6/3/2009 $3,000
$166,500 $155,000 5/14/2009 ($11,500)
$114,900 $100,000 5/8/2009 ($14,900)
$509,900 $661,000 5/20/2009 $151,100
$338,900 $330,000 5/19/2009 ($8,900)
$323,900 $323,900 5/19/2009 $0
$308,900 $257,250 5/8/2009 ($51,650)
$185,000 $171,500 6/3/2009 ($13,500)
$175,000 $175,000 5/8/2009 $0
$144,900 $142,500 5/22/2009 ($2,400)
$142,900 $140,100 5/18/2009 ($2,800)
$127,900 $120,500 5/18/2009 ($7,400)
$122,000 $122,000 5/11/2009 $0
$499,900 $405,000 5/12/2009 ($94,900)
$445,000 $417,000 5/18/2009 ($28,000)
$498,000 $465,000 5/15/2009 ($33,000)
$259,900 $210,000 5/22/2009 ($49,900)
$249,900 $252,400 5/28/2009 $2,500
$229,900 $227,000 5/8/2009 ($2,900)
$209,900 $165,000 5/12/2009 ($44,900)
$205,900 $230,000 5/13/2009 $24,100
$169,900 $164,900 5/27/2009 ($5,000)
$169,900 $155,000 5/28/2009 ($14,900)
$169,900 $155,000 6/4/2009 ($14,900)
$169,100 $169,000 5/13/2009 ($100)
$162,900 $157,000 5/29/2009 ($5,900)
$159,900 $127,500 5/11/2009 ($32,400)
$157,900 $154,000 5/6/2009 ($3,900)
$134,900 $132,900 5/12/2009 ($2,000)
$129,900 $122,000 6/4/2009 ($7,900)
$119,900 $115,000 5/15/2009 ($4,900)
$117,100 $118,000 5/20/2009 $900
$104,900 $97,000 5/26/2009 ($7,900)
$1,500,000 $1,102,000 5/12/2009 ($398,000)
$1,179,900 $1,179,900 5/29/2009 $0
$436,900 $420,000 5/29/2009 ($16,900)
$399,750 $372,900 5/8/2009 ($26,850)
$337,900 $337,000 5/21/2009 ($900)
$290,000 $275,000 5/18/2009 ($15,000)
$276,900 $265,000 6/4/2009 ($11,900)
$200,000 $200,000 6/3/2009 $0
$195,000 $195,000 5/22/2009 $0
$190,000 $190,000 5/19/2009 $0
$175,000 $182,000 5/15/2009 $7,000
$153,900 $152,900 5/15/2009 ($1,000)
$144,900 $132,500 5/7/2009 ($12,400)
$139,555 $142,050 5/26/2009 $2,495
$128,800 $130,000 5/21/2009 $1,200
$110,000 $92,000 5/14/2009 ($18,000)
$104,100 $114,405 6/3/2009 $10,305
$620,900 $600,000 6/3/2009 ($20,900)
$190,510 $179,000 5/6/2009 ($11,510)
$268,900 $269,900 5/27/2009 $1,000
$1,295,000 $1,060,000 5/14/2009 ($235,000)
$999,900 $975,000 5/18/2009 ($24,900)
$280,000 $295,000 5/29/2009 $15,000
$799,000 $665,000 5/27/2009 ($134,000)
$777,777 $740,000 6/2/2009 ($37,777)
$675,000 $275,000 5/19/2009 ($400,000)
$640,000 $275,000 5/19/2009 ($365,000)
$605,900 $590,000 5/12/2009 ($15,900)
$536,635 $575,000 5/26/2009 $38,365
$509,900 $534,677 5/21/2009 $24,777
$499,000 $137,800 5/19/2009 ($361,200)
$424,900 $425,000 6/3/2009 $100
$399,900 $390,000 6/3/2009 ($9,900)
$364,900 $340,000 5/28/2009 ($24,900)
$267,500 $265,000 5/19/2009 ($2,500)
$204,000 $190,000 5/21/2009 ($14,000)
$185,000 $185,000 5/6/2009 $0
$178,500 $175,000 5/13/2009 ($3,500)
$134,900 $142,750 5/15/2009 $7,850
$129,000 $122,000 5/6/2009 ($7,000)
$119,900 $113,000 5/21/2009 ($6,900)
$600,000 $470,000 5/13/2009 ($130,000)
$550,000 $200,000 6/3/2009 ($350,000)
$410,000 $355,000 5/20/2009 ($55,000)
$229,000 $205,000 5/7/2009 ($24,000)
$223,900 $223,900 5/13/2009 $0
$199,900 $188,300 5/28/2009 ($11,600)
$199,000 $199,000 6/2/2009 $0
$194,900 $186,000 5/7/2009 ($8,900)
$189,900 $182,000 5/20/2009 ($7,900)
$185,000 $174,900 5/6/2009 ($10,100)
$184,900 $170,000 6/2/2009 ($14,900)
$599,900 $532,483 5/13/2009 ($67,417)
$350,000 $350,000 5/13/2009 $0
$180,000 $176,200 5/6/2009 ($3,800)
$165,000 $158,000 5/26/2009 ($7,000)
$154,900 $145,000 5/21/2009 ($9,900)
$150,000 $150,000 5/8/2009 $0
$149,900 $147,000 6/4/2009 ($2,900)
$148,900 $140,275 5/14/2009 ($8,625)
$425,000 $372,750 5/28/2009 ($52,250)
$364,900 $320,500 5/14/2009 ($44,400)
$332,900 $332,900 5/20/2009 $0
$216,900 $207,000 5/15/2009 ($9,900)
$141,900 $139,900 5/12/2009 ($2,000)
$135,500 $105,000 5/13/2009 ($30,500)
$129,000 $115,000 5/29/2009 ($14,000)
$128,900 $120,000 5/13/2009 ($8,900)
$119,900 $105,700 6/4/2009 ($14,200)
ave ave sales/list # at or above list
$279,142 $258,145 92.48% 106

Posted by
About the Author:  Tim Maitski has been a full time Realtor since 1999. He has sold several hundreds of homes in areas around metro Atlanta.  Tim started with RE/MAX Greater Atlanta and is now with Atlanta Communities Real Estate Brokerage.

Along with blogging on ActiveRain, he provides one of the best real estate websites in Atlanta at www.HomeAtlanta.com where he has market price charts of 37 areas around Atlanta with data going back over 10 years.  His online Property Tax Calculator allows you to compare property taxes in many counties and cities around the Atlanta area.  He provides the Atlanta MLS Power Search Tool that allows searches of homes using over 35 specific criteria.

A visit to Tim's  YouTube Channel will make you see why RealtyBizNews.com says that "Tim Maitski may just be America' most vocal real estate professional"

Tim is always looking to LinkIn with anyone who is interested in building their social network.

View Tim Maitski ●Atlanta Realtor●'s profile on LinkedIn

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Rainer
70,659
Teresa Cox King
RE/MAX Select - Fairhope, AL
Fairhope, Daphne, Spanish Fort, Mobile

We are seeing much of the same in our market area as well.  Buyers are being beat out of the house they were still trying to 'low ball' because we are in a 'buyer's market'.  Not so with REO properties.

Jun 04, 2009 11:51 AM #1
Anonymous
Anonymous
Bob Boog

Sometimes in a hot market, you just have to tell the buyer to write up the contract, fax it over to the agent -- and then show the property! (Provided you know what the purchaser is looking for, and have already previewed the house.)

Jun 04, 2009 12:51 PM #2
Rainmaker
38,030
John Whittinghill
Keller Williams Realty First Atlanta - Marietta, GA
Marietta, GA Real Estate Agent

Hey Tim,

Great report here!  It's hard for a lot of buyers to understand this, with all they've heard of now is the time they should "steal" a house!  Do you mind me asking how you imported those numbers in that list format into your blog post?  You seem like a good guy, and I enjoyed watching your profile bio, in fact, you inspired me to make one myself.  I would be happy to refer you and your mother-in-law clients for Forsyth County when that opportunity comes up.  Happy Selling!

Nov 12, 2010 07:28 PM #3
Rainmaker
38,030
John Whittinghill
Keller Williams Realty First Atlanta - Marietta, GA
Marietta, GA Real Estate Agent

Looks like we both work Cobb County, but please keep me in mind for Cherokee County, and Kennesaw/Acworth if you don't go there as much!

Nov 12, 2010 07:30 PM #4
Rainmaker
449,885
Tim Maitski
Atlanta Communities Real Estate Brokerage - Atlanta, GA
The Agent Who Uses "Watermelon Tough" Sign Posts

John,  I kind of forgot what I did so I tried it again.

I have a "hot sheet" search set up in the FMLS.  So when I get the results, I just copy everything to a spreadsheet, I use Open Office but I'm sure Excel works, and I paste it into a spread sheet.  Then I just eliminate what I don't want.  Then I just copy and paste it into the blog.  Nothing fancy. just copy and paste.

$799,000.00 $736,000.00
$349,999.00 $349,900.00
$119,900.00 $106,700.00
$529,900.00 $490,000.00
$470,000.00 $485,000.00
$189,900.00 $184,000.00
$529,900.00 $535,900.00
$272,000.00 $264,000.00
$150,900.00 $154,000.00
$134,900.00 $132,000.00
$110,000.00 $100,000.00
$167,900.00 $174,900.00
$130,000.00 $129,000.00
$169,900.00 $162,400.00
$120,000.00 $120,000.00
$118,900.00 $110,000.00
$108,600.00 $102,000.00
$399,900.00 $441,000.00
$264,900.00 $235,000.00
$149,900.00 $135,000.00
$129,900.00 $129,900.00
$225,900.00 $225,000.00
$110,900.00 $100,000.00
$109,900.00 $69,300.00
$171,800.00 $171,800.00
$199,900.00 $186,500.00
$219,900.00 $197,000.00
$144,900.00 $118,000.00
$139,900.00 $141,319.00
$509,900.00 $505,000.00
$270,000.00 $270,000.00
$470,000.00 $460,000.00
$109,900.00 $109,000.00

Nov 13, 2010 08:13 AM #5
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Rainmaker
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Tim Maitski

The Agent Who Uses "Watermelon Tough" Sign Posts
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