In a basic economics class we learned about supply and demand - I think basically in the past two year to summarize the issues in real estate is to much supply (to many homes for sale) and way to little demand (buyers that have the ability and desire to get a loan and buy a home).
As I look at the stats from September for the metro area - September was a tough month I think because of the floods and mortgage issues in the market. But one bright spot is the supply of homes for sale in Atlanta - at the end of September they were approximately 47,000 homes - that is down from a high of 70,000 homes and is consistent with the supply back in January 2006. As the supply of homes decrease that should stablize prices. What we do not know is how much supply will come on the market once prices increase consistently.
Today I have buyers that are signing a contract to build a home because they could not find a home they liked - they say lots of short sales & foreclosures in Cumming and Alpharetta but decided to build. That is a very good sign. If you are considering buyer or selling a home in Alpahretta of Cumming Ga - call me at 770 722-0710 - I would like to apply for the job of helping you find your next home.
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