It's a crazy real estate market, are you ready?

By
Real Estate Agent with Tim Francis Realty LLC

 

It's a crazy Atlanta real estate market, are you ready?  Atlanta Market Update May 2011

 

Every year the Atlanta Real Estate Market kicks it up a notch as the azaleas bloom in early spring and the trees green up.  2011 is no exception.  The activity level and phone calls are up dramatically.   Now that we are one third through 2011, here is what we are seeing for the Buckhead Real Estate markets.

 

We are seeing an explosive executive single family home lease market and this really surprises a lot of tenants.  If you are thinking of looking for a nice executive home rental – look quickly and take it IMMEDIATELY!   Let me say that again.  If you are thinking of looking for a nice executive rental – look quickly and take it IMMEDIATELY!    

 

The number of expatriate folks that are in Atlanta on international assignment, prefer to lease than buy, have to lease than buy or are building a new home is on the rise and there are NOT enough good lease homes for the folks out there looking.

 

For sellers, in certain pockets of Atlanta, we are definitely turning the corner.  Now, this isn’t everywhere, but we are truly starting to see some firming up of the markets, price stabilization and a stronger market for sellers than we’ve seen in years.  This is because inventories are at an all time low for the past seven years.  In some price points and neighborhoods we are under six months of inventory (and if you take out the truly horrible properties, it’s almost a sellers market!)

 

Unfortunately, it’s not true for all sellers throughout Atlanta.  There are some Atlanta areas that are harder hit, or more recently built that still have a huge supply of homes.  With high inventories those markets are still struggling as well as decreasing in price point.

 

For buyers, the flip side is true.  A number of folks are out looking to get a fabulous price at an incredible interest rate.  There are still deals out there, there just aren’t as many!   Many indicators are that interest rates are forecast to rise over the next months and years to come.  As this happens, the great price point deal will be offset by higher mortgage payments as inflation takes off. 

 

Time will tell as other factors influence the real estate market, but it’s truly crazy in the Atlanta Real Estate Market.  What are you finding and seeing in your real estate market area?

 

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Information and content on this blog is original to Michelle Francis  

Michelle Francis

Tim Francis Realty, Serving Buckhead, Atlanta & Sandy Springs GA

(404) 219-9760

Michelle@TimFrancisRealty.com

 

Want to know more about Residential Buying, Selling, Executive Home Leasing & Property Management in Buckhead, Brookhaven, Garden Hills and Sandy Springs, GA?

If so, you can find me here:

Buckhead, Atlanta, & Sandy Springs Real Estate on Linked-IN

 

Comments (6)

Ken and Leslye Huebsch
3x Individual Agent of the Year, Luxury Homes, First-Time Buyers, Residential Resales, New Construction - Harrisburg, PA
Realtors - Harrisburg Homes for Sale 717.514.1793

Send some of that north! Can't wait to see it all spring back. Thanks for sharing, Michelle!

May 01, 2011 08:38 AM
Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Michelle we have many of the same things happening in Phoenix market. The executive rental market is more due to short sellers wanting to rent a similiar type home they used to have rather than international people.  The lower end market is gobbled up by 1st timers or investors if it's priced right and in good condition - multiple offers normally.  Higher end is a bit stale and prices are down drastically - so it would be a great time to buy high end homes for little nothing.  MId market is seeing a lot of sales especically in the more traditional areas of town (location location location).

Happy May Day!

May 01, 2011 08:45 AM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Ken, 

Wish I could send some of that north!  We are already getting hot down here:-)

Anna, 

Yes, pocket recoveries if you will.  We probably do have some folks who short sold their homes looking for rentals, but they would have a tough time qualifying, as we have so many others. 

All the best, Michelle

May 01, 2011 09:23 AM
Betsy Schuman Dodek
Washington Fine Properties - Washington DC Area Real Estate - Potomac, MD
SearchPotomacHomes.com

Michelle,

The rental market is very tight in the DC area as well! The tenants must jump when they find something they like!

Betsy

May 01, 2011 03:44 PM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Betsy, 

So are certain selling price points in some locations!  

All the best, Michelle

May 02, 2011 03:54 PM
Joshua Vensel
VENVISIO - Real Estate Photography - Atlanta, GA - Marietta, GA

I've always wondered about the luxury rental market, and never understood renting vs. buying a luxury home.  I hadn't thought about executives who are in town for relatively brief business assignments - It totally makes sense now!  Thanks.  

May 03, 2011 03:38 PM