Skip to main content
(678) 915-2634 Contact Us
Banks hoping to increase sales with foreclosure improvements Atlanta, GA

Personal Attention & Experience Since 1971 Family-Owned, Family Focused

Client Reviews

Banks hoping to increase sales with foreclosure improvements

Foreclosue Sign on Top of For Sale Sign in Front of House

Many banks are beginning to make changes to the appearance of their foreclosed homes in an attempt to boost sales. Making aesthetic improvements to a home has been a selling strategy for real estate agents for decades. Now banks are beginning to heed that advice in order to sell their record numbers of foreclosed properties.

Real estate agents say that foreclosure sales were once few and far between. However, the number of foreclosures has greatly increased during the past 10 years, making the foreclosure market much more competitive.

Now, banks in Georgia and throughout the country say that they are spending an average of $3,000 per home in order to entice consumers to purchase their foreclosures. Common fixes include replacing windows, refinishing floors, repairing or replacing roofs, painting the walls and installing new carpeting.

Some believe that banks’ foreclosure improvement strategies are beneficial to homebuyers as well as the overall real estate market. Potential homeowners may have an easier time receiving loans for the improved properties than they would for a home that had been deemed inhabitable. Although foreclosures still sell for less than privately owned properties, they will bring more money to the real estate market if they have been slightly improved.

However, the increased competition in the market could make it more difficult for traditional home sellers to receive an offer. Homeowners may have to further adjust selling prices in order to remain competitive with updated foreclosures.

Regardless, economists and housing market analysts are optimistic about the shift, stating that banks’ foreclosure updates will increase sales and move the influx of foreclosed homes that is currently clogging the real estate market.

Source: Chicago Tribune, “Banks sprucing up foreclosures to boost sales“, Mary Ellen Podmolik, 13 March 2011

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634


First Free

    DisclaimerPrivacy Policy

    I have read the Disclaimer and Privacy Policy

    Our Client Reviews

    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

    Write a review