For the second time in a week, the Fed has done it again and has cut short-term rates by half a percentage point. Yesterday’s action, combined with the cuts we have seen earlier, “should help to promote moderate growth over time and to mitigate the risks to economic activity,” according to the statement. And it seems the Fed is willing to keep lowering rates if the economy keeps declining.

So, I’d say if you have thought about buying but have been put off by the mortgage situation, now IS most certainly the time to start looking - prices are down, the Fed keeps lowering interest rates, and mortgage companies and banks are looking for good lenders.

Knox and I also know that there are many many foreclosures out there in the condo and loft market (even one worth $1.2 million) - so in the next couple of weeks we will be posting some of the foreclosed condos and lofts in the Atlanta market. I will start in the downtown area and Knox will start in the Buckhead area and we will meet in the middle. Hope this will be of value to some of our readers.

Technorati Tags: foreclosed condos and lofts in the Atlanta market