As I look at the March stats a couple of items jump out at me about this market:
1. In Cumming Ga (Primarily Forsyth County) the Number of Detached Homes Sold in 2011 was 27% more than in March 2010 - this follows a 23% increase in February 2011 compared to 2010. 37% of the March 2011 closes were either Foreclosures, Short sales or distressed in some manner.
2. The inventory at the end of March 2011 was down 13% compared to March of 2010. Real Estate is just supply and demand and as the supply of homes goes down if we get any increase in buyer there could be a good squeeze and the value of home could increase.
Maybe I am looking through rose tented glaseses but once we get the supply corrected. Once the foreclosure percentage comes down the market will come back quickly.
If you are planning on buying a home in Atlanta and want an agent that knows the market and will work hard for you - call me (John Foster) at 770 722-7010. I want to interview for the job of being your agent.
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