Can you believe it? The inventory of homes for sale in the Metro Atlanta area is very low. We are just entering the season when more homes begin to flood onto the market, but right now we are at a very low point.
What does this mean to Buyers and Sellers? Well, it should mean that Sellers have the ability to strengthen
their pricing. You know, the old supply and demand rule? But I have not personally seen this. There are still too many foreclosures and short sales in the mix for pricing to regain much strength.
For Buyers, what I have seen is fewer good properties to show. And the ones we like, so does everyone else. Multiple offer situations are popping up more frequently. I can't tell you how many times just this past weekend I select a list of homes to show from the MLS system ,(still showing as active) that when I call the a\gent I am told the home has just gone under contract. Ok, I will tell you, 4 just this weekend!
So, I wrote 2 offers this weekend, 1 ended up being a backup offer and the other I will find out about this morning. The other two possible offers were foiled by other contracts already placed.
If you are thinking about putting your home up for sale, right now is a great time. Prices are not rising but they are holding fairly steady. Well priced homes in good condition are selling fast. If you are thinking of buying, once again with mortgage rates as low as they have been in forever, the time is right. Just expect to move quickly if you see a home you like and be prepared to fight for it.
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