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HOUSING PRICES FREEFALL

Atlanta
HOUSING PRICES FREEFALL
southeast capital mortgage cal haupt first mutual mortgage residential housing atlanta
We caught up with Southeast Mortgage's Cal Haupt, whose firm just acquired another branch, buying First Mutual Mortgage in Columbus. Cal tells us housing values fell off a cliff in Q1, with loan values dropping from an average of $178k in 2010 to $142k, ?which is unheard of.? Those values have since recovered most of the losses, hovering in the $170's now. He credits the pricing drop partly to a deluge of short sales and foreclosures that hit the residential market around that time, hurting appraisal values metro-wide.
Related Topics: Southeast Mortgage, Cal Haupt