The New American Dream…..Renting?

      Okay Peachtree City before things become as hostile as a town hall meeting on health care, let me explain the topic.  Recently, I read this article in the Wall Street Journal entitled “(Marxism) The New American Dream: Renting.”  The article stated that Americans might as well get used to the fact that home ownership is no longer a realistic goal for folks and further suggested that we curtail the enormous government subsidies that are fueling this endeavor. The Marxism connotation as identified in the article’s caption views Capitalism as a society in which a small minority of the population dominates and exploits the vast majority considered the working class.

Welcome to “The Chuck”!! Thomas Charles Hannon Memorial Field Opens in Peachtree City!!

Hey Peachtree City!  Just in case you didn’t hear the news….The Thomas Charles Hannon Memorial Field better know as “The Chuck” had its Grand Opening Ceremony on Saturday, August 8, 2009. 

Throwing out the first pitch together was Atlanta Braves pitching ace Tim Hudson and former CY Young award winner Steve Bedrosian.  Wow!!! What’s so exciting and makes the Chuck a stand out in the State of Georgia is that its the first all-synthetic baseball field! 

Is the Bank’s “Shadow Inventory” Casting a Cloud on the Real Estate Market?

Hey Peachtree City….has anyone noticed that a number of foreclosed homes seem to be just sitting for months on end with no visible effort going on by the banks to actually resell them?  It really did not hit me until a client expressed interest in a foreclosed home in my own neighborhood. When I approached the sales broker for the neighborhood he informed me that the builder had gone bankrupt and the house was going into foreclosure in a few days.  ”Call me back”, he said.  ”The house will probably a better buy once it comes out of receivership and is back on the market.” 

Bank of Georgia Receives “Cease & Desist” from FDIC!

The Bank of Georgia is under some major scrutiny as the FDIC served a “cease and desist” to the Peachtree City-based bank.    The order basically states that the Bank of Georgia has been cited for a number of banking practices that could represent unsound and unsafe banking practices. 

Specifically, the bank was cited for operating with inadequate capitalization for its risk profile.  Additionally, the bank was operating with inadequate management citing that those practices are detrimental to the bank and further jeopardize its deposits.