The real estate market should begin to see a turnaround as we head towards 2008 for a number of reasons. First, interest rates remain at very low levels. Last week in fact, you could get a 30 year fixed rate at 5.5% and the Fed ponders another cut in rates this week. The next reason that I feel we should begin to see more homes selling is that the last piece of the puzzle is now in place and homes have finally been "incentivized" by sellers. Market realities have come home and we have now seen price reductions show up on more and more Alpharetta homes for sale. Finally, more homes priced as short sales and foreclosures offer more bargains for the savvy buyer and investor and these forces should help to reduce the inventory levels.
There are signs that buyers are stirring and beginning to trickle back into the marekt and Octobers sales data indicates that we may well be on our way. Here's looking to a better 2008 than we had in 2007.
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