Economics? Law of supply and demand? Do you remember studying this in school? Well, you are looking at this right here in the Atlanta market today. We are at an all time low inventory with just over 13,000 homes, town homes, condo's and lofts combined in the 41 metro county market. That is amazing when you remember not so long ago the numbers being displayed on those billboards around town got so high they stopped quoting numbers and just went to buy today! With a record low inventory, even though prices for sellers are still down the number of homes being sold are on the rise. AND, since inventory is down, if the home is priced right we are seeing lots of multiple offers. In fact, 1 out of every 5 homes being sold is getting 100% or more than asking price. What does this mean for buyers? Well, it means if you need to buy and the house is a good one priced right you better not "think about it" too long. Here's the facts folks, interest rates are phenomenally low. You can get a 15 yr today for under 3% fixed and the 30 year fixed is under 3..5%. I mean come on people do the math. As a buyer, you can't rent for cheaper. And oh by the way, as my team leader likes to say, if you already own, think about expanding your retirement portfolio. Current investment purchases are under 4% as well.
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