I was at a seminar recently. Among many topics, was of course, the subject of market conditions for Atlanta in 2010. And, as you can imagine, the opinions were mixed. Opinions ranged from a 50/50 chance the recession will turn around (safe bet!) to the possibility of a double dip recession.
Other projections included:
- Interest rates will remain level but rise slightly by the end of 2010
- Home prices will remain flat
- The sweet spot for home sales: $400,000 and under
- Condo inventory will finally become depleted but at the expense of price slashing
- S-L-O-W new home starts.
Here are the current stats for September 2009 vs. September 2008
Foreclosures in our Atlanta market still tend to capitalize our market; but, short sales seem to be making a strong showing. Unfortunately, due to the unregulated handling of short sales, they still tend to be a lot of work and require an enormous amount of patience - with no guarantee.
For more market reports for our Atlanta market, please visit my webiste: MySuwaneeHome.com and click on "Janice's Blog".