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Atlanta Real Estate Activity Picking Up!

Atlanta real estate activity! In the last week or so the phones calls have started picking up a little and we have started to receive contracts on homes have been sitting on the market for quite a while. This is a great thing. The price range for Atlanta real estate activity seems to be under 300K. We're hoping this is going to spread to the higher price ranges. We have closed one of the listings, and received contracts on 3 others, and have a forth contract coming in later this week. Two of the listings received multiple offers. To me that is a good sign since the Atlanta real estate market in my opinion tends to start with Easter week each year to coincide with early school let out in May in the Atlanta region.

The quality of the offers are different than in the past - more closing costs, and only one full priced offer. It will be interesting to see these offers to closing. The interesting item was that these homes were priced critically to market, had been painted, and one home updated appliances, counter-tops, sinks, painting and flooring. What remains critical in this market is not counting on the sale until it closes. We generate loads of real estate referrals in Atlanta and the primary deal killers are financing, and appraisal. Many Atlanta homes for sale are not appraising in the Atlanta area as easily as last year. Comparable home sales must be within the same community, and have closed within the last 3 months!

Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 03/18/2008 07:47 PM

Comments (11)

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11 Comments on Atlanta Real Estate Activity Picking Up!

Feeling the same here in Gwinnett, however the price point in northern Gwinnett that seems to be under $250. The $220s are selling like crazy in the Lawrenceville and Duluth And Dacula, the properties in the Stone Mountain, Snellville area seem to be under the $180s. Resale has such high compation with short sales and foreclosures

03/18/2008 07:55 PM

by Eric Reid Lawrenceville,GA (Renaissance Realty Group)

Jim - same here too in Gainesville, FL. Buyers seem to be getting off the fence! The interest rate's media coverage may really shake the bushes and get buyers committed.

03/18/2008 07:58 PM

by Christine Bohn, ABR, e-Pro, GRI~Gainesville, FL Realtor® (RE/MAX Professionals, Inc.)

Eric Reid Lawrenceville,GA This need to continue long enough to see if we have a trend started! That would be great! It is interesting to note the price ranges you confirmed.

03/18/2008 08:03 PM

by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)

Christine Bohn, ABR, e-Pro, GRI~Gainesville, FL Realtor® That is great news!

03/18/2008 08:04 PM

by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)

Always good to hear that business has started picking up. Not to shabby over here either.

03/18/2008 08:16 PM

by John Walters (Specialized Real Estate)

John Walters It is always good, but better if we can sustain it!

03/18/2008 08:33 PM

by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)

We are also seeing increased activity. The lower price ranges have been pretty strong over the last several months and continue to do so. Buyers are coming back in the marketplace.

03/18/2008 08:44 PM

by Craig W. Barrett - Hughesville MD Real Estate (RE/MAX 100)

I'm glad to see there is some positive movement in your market. My biggest challenge still lays in getting them to the table and CLOSED! I will keep my fingers crossed for you!

All the Best!

Kathy Fisher Lexington TN REMAX Realtor

03/18/2008 08:46 PM

by Kathy Fisher Lexington's ePRO RE/MAX Realtor (RE/MAX Unlimited)

Depending on the lender, some appraisals only go back 3 months here too! Market activity is picking up here too and you're right, you don't count on it closing until it really does!

03/18/2008 09:10 PM

by Colorado Springs Realty Patricia Beck (Prudential Professional Realtors, GRI)

Craig W. Barrett - Hughesville MD Real Estate This is new for Atlanta. It has been pretty dead for a while. I want to remain positive and will look for signs this is a trend!

03/18/2008 09:14 PM

by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)

Kathy Fisher Yes! I only count the deals after they closed. I am seeing a tremendous amount of homes that were under contract coming back on the market. What I am haering from friends in the business - financing, and appraisals are not coming in!

03/18/2008 09:18 PM

by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)

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