Real Estate Market 
Entries in the real estate market category will be updates and insight from our perspoective on local as well as national stories and trends as they relate to real estate as well as market updates for the areas in the Metro Atlanta real estate market that we service.
There are currently 23 blog entries related to this category.
The Tax Credit Effect - Can it Help Save the Market
Thursday, October 22nd, 2009 at 1:49pm. 403 Views, 12 Comments.
After strong mid summer sales and real hope for 2010, the residential real estate outlook has dimmed again. The $8,000 tax credit is looking very much like the last great hope for 2009 to bring back some balance - or at least give a strong push of the pendulum back in the balance direction. The chart below shows sold single family residential units compared to pending residential units monthly during 2009.
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The uptick is incredible…
Summer Speeds by Taking Deals of a Lifetime with It
Sunday, September 13th, 2009 at 10:41am. 705 Views, 12 Comments.
Summer of 2009 is coming to a close quickly and some of the best deals in a generation are leaving with it. Were you able to capitalize on those deals or are you still waiting for prices to drop? If you're waiting, here is a recap of what you missed and why you may reconsider your position of waiting...and oh yeah...it looks like prices aren't really dropping any more - at least for good properties and especially in the more sought after areas of Atlanta
The average price for a home has dropped 8% in North Fulton since the summer of 2008, but, prices are trending up, sales volume is trending up and inventory is trending down. We are still down in price from the summer of 2008 because pricing continued to decline until February of 2009 (they have been…
Pingback/Trackback Test
Wednesday, August 12th, 2009 at 7:47pm. 983 Views, 2 Comments.
Testing that pingbacks and trackbacks work so I am linking to a new Keller Williams blog theme for WordPress
Waiting for the Bottom - You May Have Missed It
Wednesday, July 22nd, 2009 at 6:30am. 819 Views, 20 Comments.
Waiting around and smelling the flowers? If you are one of the many buyers waiting for the bottom, it's quite possible that you have missed it. Waiting on a "bottom" is a terrible homebuying strategy anyway, but, now is really the time to get off the fence. We as real estate professionals are not capable of exactly calling the bottom and that means that you as consumers have no chance of doing so. Think I'm wrong? We now have had four consecutive months where the average price of homes for sale in Atlanta is higher than the previous month. In February it $172,860. Now it's $209,999 or over $37,000 higher than the low! Translated, this means since February, prices have gone up every month so many areas the "price bottom" may be behind us. The confluence of…
Homes for sale in Atlanta Down, Pending Sales Up – What it Means
Tuesday, July 7th, 2009 at 3:34pm. 876 Views, 9 Comments.
In March, I wrote about what I thought was going to happen this summer and moving forward in the Atlanta market. It does appear that what I thought might happen is actually beginning to take place and that is good news for a real estate market that is in desperate need of something positive and tangible to hold onto. Many of you may have read reports earlier this year in the AJC indicating price increases in certain areas of the city, but, they failed to place the fine print in an easily readable place in the article and the realities are that those reports are not very accurate. Fortunately, this report is very accurate as we won’t neglect to include foreclosures and other necessary parts of the equation that make up today’s market.
First, the actual…
Foreclosures We Followed - Where are They Now?
Saturday, May 9th, 2009 at 9:31am. 982 Views, 17 Comments.
A few months back I wrote a few posts about some excellent foreclosure deals in Roswell and Alpharetta. One is a foreclosure in Glen Abbey, one is a great investment property in Berkshire Manor and another is a large home with a pool in Brookfield Country Club. The purpose of all three of these posts was really twofold:
1. They were good deals.
2. There is a terrible misconception on the part of the buying public (many of which are regular buyers who believe this is a good time to "invest") in understanding how to ascertain value and/or an offer price on properties such as these which is truly unfortunate because there really are so many great deals.
I figured if I went through a few examples, we might help set some buyers get straight on the process. It's…
Spring Market Update for Metro Atlanta
Monday, March 9th, 2009 at 7:20pm. 1945 Views, 22 Comments.
The ups and downs (mostly downs) of the market are likely to continue, at least for most of this year and there is a good chance that the next six months will be the hardest summer selling season yet if you are a seller, but, the statistics are definitely showing some important and changing trends that you probably are not hearing about on the news. What we need to look at is one month from one year compared to the same month from a previous year. This counterbalances annual cycles like the ones that we have here in Atlanta. That's the case everywhere, but I digress. An increase in December over November is meaningless to the market as that is the case every year.
Below are a few sales graphs that I want to explain before you read them and then I'll add…
$15,000 Tax Credit Out, Housing Crisis Largely Ignored in Stimulus
Thursday, February 12th, 2009 at 6:44am. 1560 Views, 14 Comments.
Now that the stimulus bill has passed the committees and is set to be signed by Obama as early as Monday, any hope that the bill would include help for the industry with the biggest problem and is the biggest reason we are in a recession is all but gone. While it could be argued that the $15,000 tax credit was not the right prescription, it would have sent a message that the problem was being addressed.
Bloomberg reports this morning that the bill weighs in at $789 Billion dollars and that instead of a $15,000 credit, there will be a $500 addition to the $7,500 tax LOAN already in place. Like most things in the behemoth, little details can be found. We could hope that they would remove the LOAN portion of the bill with all this money being thrown around,…
February Marks the End of the Slow Winter Season - What Can We Expect Now?
Saturday, January 24th, 2009 at 12:31pm. 569 Views, 9 Comments.
Traditionally, February in Atlanta (right after the Super Bowl) is the beginning of the end for the slow winter season in the real estate market. After 2008, most experts now at least see the light at the end of the tunnel. Prices have come down and inventories have been decreasing for the last 5 months. What this means going forward is a beginning of the end for further price declines and summer should bring back some balance to the overall real estate market in Atlanta.
Of course, this change will come slowly and it's possible for certain segments of the market to continue price declines for several more months. Most areas north of I-20 should begin to see a leveling off before many of the areas south of I-20. Some segments of the market are already…
December 2008 Market Statistics from the FMLS
Friday, January 23rd, 2009 at 9:23am. 990 Views, 0 Comments.
* Edit 2-5-09: This Post has Been Edited and will be Recompleted this Weekend
- Home values were down 12.3%
- Inventories are coming down
Heating up, but When?
The crystal ball sees a thawing of the market, but it won't be fast and it won't be immediate. We cannot stop the downward trend in values until inventories reach numbers more inline with sales so we are on our way to balancing the market from an inventory perspective. We are not there yet, but, we are getting closer. I still think that a truly balanced market is still a year away anf that is based on the presumption that the overall economy doesn't get much worse (which it still is in Atlanta). Were are geitting close to 6 months of continuous decline in inventory, but, with the spring market approaching,…
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