Atlanta Real Estate Market is UP! here are the stats

By
Real Estate Agent with One Realty Group Edge - The Sanders Team 279103

I read this article today in "Realtor Magazine"         Click here to read this article online

 Daily Real Estate News  |  September 27, 2007Another Survey Finds Home Prices Heading Down
Home prices in major U.S. cities are falling at the fastest rate since 1991, according to the Case-Shiller home price index, reported yesterday by Standard & Poor's.

For 20 major cities, prices fell 0.4 percent in July and are down 3.9 percent over the past year.

The index tracks multiple sales of the same homes. The last time home prices fell this much it required more than eight years for home prices to climb back.

"There's no end in sight, but it's not a disaster for most people," says Robert Shiller, chief economist for MacroMarkets LLC.

Here are the 20 cities covered by the Case-Shiller index, ranked from worst to best:

Detroit, down 9.7 percent:
Tampa, Fla., down 8.8 percent;
San Diego, down 7.8 percent;
Phoenix, down 7.3 percent;
Washington, down 7.2 percent;
Miami, down 6.4 percent;
Las Vegas, Nev., down 6.1 percent;
Los Angeles, down 4.8 percent;
San Francisco, down 4.1 percent;
New York, down 3.8 percent;
Cleveland, down 3.6 percent;
Minneapolis, down 3.4 percent;
Boston, down 3.4 percent;
Denver, down 0.7 percent;
Chicago, down 0.9 percent;
Dallas, up 0.7 percent;
Atlanta, up 1.2 percent;
Portland, Ore., up 3.8 percent;
Charlotte, N.C., up 6 percent;
Seattle, up 6.9 percent.

Source: MarketWatch, Rex Nutting (09/27/2007)

Like I've been saying "it's a Generalization" when you hear that the market is down.
Click here to read my Blog about the status of the Real Estate Market in the Atlanta Area

If you would like to Sell A Home in Cherokee County, Canton, Holly Springs, Woodstock, Hickory Flat, Cobb County, Acworth, Kennesaw, Marietta, Roswell, Alpharetta, Cartersville, or surrounding areas, Contact Me for a free, no obligation, Market Analysis of your home. Contact me today, to learn more about my Internet Marketing Plan that I use to sell your home in today's rapidly changing market.

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Ambassador
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

As usual, they used the area "Washington", which is totally meaningless.  We are many markets here and very county oriented. 

I just laugh out loud when I see stats for my area that include such desperate areas as FredericksburgVirginia/Annapolis/Wshington DC and/ of all things, Hagerstown. 

It appears that, unless you live here, you wouldn't know we were many markets.

Oct 03, 2007 01:08 PM #1
Rainer
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Vicky Poe
Good Ole Rocky Top - Crossville, TN
Realtor/ Auctioneer
You need to go on the today show.  Call up doom and gloom Cramer and tell him to shut up that the market is up in Atlanta and that now is a great time to buy.
Oct 03, 2007 01:15 PM #2
Rainer
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Mary McCleskey & Michelle Gumeny
Assist-2-Sell, Home Buyers & Sellers Realty, Inc. - Acworth, GA

Not to give bad news, I am optimistic that the Atlanta market is picking up again, but I found when pulling up reports in FMLS that home sales are up in this area because of the 1 million & up homes are still selling. They aren't feeling the crunch and those homes are doing well. Those sales are what making it look like prices are going up.

Oct 03, 2007 01:33 PM #3
Rainmaker
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Lorrie Ann Thomas
One Realty Group Edge - The Sanders Team - Woodstock, GA

Lenn, exactly what I'm talking about,,, everyone Generalizes everywhere!

Vicky, Thank you! I believe that also, especially with all the good deals you can find on foreclosures currently.

Mary & Michelle, I thought it takes those higher priced homes a lot longer to sell though? Right?  Have you read my other Blog about the status of the Real Estate market, it touches on such things as that. For instance, I pulled stats for different areas and different price ranges and such. Check it out, and add a comment there too. Thanks!

Oct 03, 2007 01:48 PM #4
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Rainmaker
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Lorrie Ann Thomas

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