It appears that the deadline to appeal Fulton County assessments has been extended for many of you. Due to the errors on the original notices regarding the tax estimate and the resulting uproar that it caused, new notices were recently sent out. I have one in my possession dated 6/11/2011 with a (revised) appeal deadline of 7/26/2011. The value didn't change, only the dates and the tax estimate did.
On the housing front it was recently reported that the average homeowner now has 38% equity, down from 61% ten years ago. 23% of homeowners are under water, or they owe the bank more than the house is worth. Mortgage rates are as low as ever but no one seems to be interested in buying.
Home prices are projected by many to continue falling. Robert Shiller, creator of the Case-Shiller home price index, recently said he wouldn't be surprised if home prices fell another 10-25%. There continues to be a backlog of foreclosures due to the regulatory review of how the banks have been handling the foreclosure process. Until all of these foreclosures are allowed onto the market and get bought up - at whatever price - we cannot begin to recover.
On the housing front it was recently reported that the average homeowner now has 38% equity, down from 61% ten years ago. 23% of homeowners are under water, or they owe the bank more than the house is worth. Mortgage rates are as low as ever but no one seems to be interested in buying.
Home prices are projected by many to continue falling. Robert Shiller, creator of the Case-Shiller home price index, recently said he wouldn't be surprised if home prices fell another 10-25%. There continues to be a backlog of foreclosures due to the regulatory review of how the banks have been handling the foreclosure process. Until all of these foreclosures are allowed onto the market and get bought up - at whatever price - we cannot begin to recover.
