Atlanta Real Estate Blog

Ranch Homes Near Downtown Alpharetta are Sizzling Hot!

It's true that the real estate market in the general vicinity of Downtown Alpharetta is about as strong as anywhere in Atlanta right now but the market for ranch homes near downtown is particularly strong. There are a number of reasons that make this submarket of homes particularly hot...

Walk to Downtown Alpharetta

If you haven't been through Downtown Alpharetta recently you've missed a considerable transformation. A ride down Academy Street or Cumming Street off of Main Street or even up Canton Street parallel to Main Street is showing some big transformations and that's due in large part to the proximity to all that Alpharetta has brought into the downtown area. There is something going on every weekend and Thursday nights and to be able to walk to the events is a huge selling point - it's what every suburban city is trying to achieve but Alpharetta has accomplished this in a way that many other areas have not yet been able to do and because it's Alpharetta, it makes the area all the more in demand.

Affordability

Home prices in Alpharetta are as high and demand for the area is strong. To find a renovated ranch home for under $400,000 is an attractive option. New construction starts in the $600,000's and that's just simply out of reach for most homeowners. I think the days of huge homes as status symbols is winding down and people are more interested in lifestyle than 5,000 square foot homes that do nothing but collect dust. It's a more practical approach to home ownership and quite frankly, I welcome it!

Large Lots

You know the saying - they don't build them like they used to...well, I don't necessarily agree in terms of construction quality but they certainly don't give you lots like they used to. Most of the ranch homes in Downtown Alpharetta are older neighborhoods from the 1960's and 1970's and they have wonderfully large and level lots perfect for pools (which you might be able to afford since you aren't...

Roswell Market Update

In our last market update when we looked at the Alpharetta real estate market, it appeared that we were starting to see signs that a pricing correction may be on the horizon. With the overall economy stable, and in an election year, there really shouldn't be too many outside factors that will influence the real estate market. Except for one major influence - the Federal Reserve. There is a strong possibility that the Fed will raise rates.

Rising Interest Rates Make Homes Less Affordable

In recent weeks, the Fed has been hinting at the idea of raising interest rates and if they do, it will have an impact on the market. If interest rates rise, your buying power decreases because it makes it more expensive to buy a home. When this happens there there will be a smaller pool of buyers for homes thus lowering demand and in turn lowering housing prices.

So Should You Wait to Buy?

It all seems so easy - we predict prices to go down so we automatically think the right thing to do is to wait until they do before we buy a home. It's a natural conclusion to draw. However, it really is more complicated than that. First, there is no guarantee that prices will drop and if they do, there will still be certain areas that see very modest, if any price drops. In the higher demand areas, we may only see a leveling off of prices or perhaps an overall drop that only amounts to a few percentage points. That generally isn't enough to draw the conclusion that the right decision is to wait.

How Will it Affect Homes in Roswell?

Roswell is a great example of an area that will have a very small impact in the event that prices to decline as a result of diminished pent up demand and higher interest rates. This is due in large part to the demographics...