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Home > Things are getting tough around here.

Things are getting tough around here.

September 24th, 2008 at 04:34 pm

This area is starting to really have tough times. The North Georgia mountains has done well the past 15 years because of real estate sales and lots of home building. Now, all of that has stopped. There are almost 800 homes for sale in this small county with a population of only 19,000. No one is building anything. I have friends who are getting foreclosed on. One friend yesterday told us that he is getting his old house back. He sold it a few years ago and held the mortgage. Now the new owner can no longer make the payments on the house, so he is giving it back to the first owner.
The previous owner has since retired and was counting on the payments to help fund his retirement.
A truck driver friend says that lots of states are doing just fine, but Georgia sure does not seem to be one of them.

Funny thing, we all worked so hard to get our Georgia's building license and now there is nothing to build. We have to have liability insurance to keep our license and it is so expensive but we have to pay even if we are not building. If we drop it, we lost our license. I really can't see things getting better next year either. I am just glad that we have savings to tide us over.

Posted in Uncategorized | 4 Comments »

4 Responses to “Things are getting tough around here.”

  1. mbkonef Says:
    September 24th, 2008 at 04:50 pm 1222275046
    1222275046

    I can definitely understand where you are coming from. I am in Southeastern PA and building has been in a slump for over a year. My DH sells building materials and no matter how much a builder likes him, if he is not selling homes and building homes, he isn't going to need to buy anything. The builder that built our current home used to have several job sites running at a time and 2-3 settlements a week. Now they are hoping for 2-3 in a month. They have laid off most of their office staff, job supervisors etc. Not sure when things will start to turn around up here.

  2. fern Says:
    September 24th, 2008 at 06:31 pm 1222281105
    1222281105

    Yes, thank god for years of being frugal. I pity the poor homeowner who for whatever reason HAS to sell in this kind of real estate market.

  3. Inline Business Says:
    September 26th, 2008 at 05:06 am 1222405584
    1222405584

    Now a days real estate is in peak.If there is any change in environmental condition there is a chance for real estate to drop down.



    [url="http://www.inlinebusiness.com/adwatcher/tracker.php?t=3">Smart Equity - mortgage Payoff, ask mortgage, live mortgage free, mortgage debt[/url]

  4. SicilyYoder Says:
    September 27th, 2008 at 07:29 pm 1222543795
    1222543795

    There are homes sitting vacant everywhere in Ky, too. Its really sad- car sales are down, too, and several dealerships that have been around for years have closed.

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