According to the National Association of Realtors (NAR), the success of a housing recovery will lay at the door step of job creation and availability of credit. The tightening of underwriting guidelines is also stifling the housing recovery. And, in the same article, it is projected IF the Bush tax cuts are extended across the board, it could "help create an additional 400,000 jobs in 2011, helping to increase home sales by another 60,000-80,000." (read more: Realtor.org)
From a local level, Atlanta continues to struggle as we close out 2010. The high unemployment numbers haven't budged out of 9% for months with current unemployment standing at 9.9%. And, the state ranks in the top 10 with Georgian's feeling the stress related to financial challenges.
And while Georgia continues to rank at the top nationally for foreclosure properties; and, with Gwinnett County leading the pack amongst the greater metro Atlanta counties when it comes to foreclosures, we are seeing a stabilization of home pricing. Not to imply that home prices are going up, but pricing does not appear to be taking the nose dive they had been because more homeowners have opted out of competing with short sales and foreclosures if the need to move isn't mandatory; thus, balancing inventory levels.
We are moving into the Holiday season. Most would typically think this is a slow time of year. However, I have always found it a great time to sell. The buyers who are out there are typically very serious and trying to make a move before the schools resume in January. And, it is my opinion that inflation is just around the corner so anyone who has been straddling the fence to sell (or buy), I wouldn't wait any longer. The notorius "window" I hear so many refer to will be slammng closed soon and then we will have a new challenge - HIGH INTEREST RATES!
Let's take a look at September, 2010.
Comments(0)