Most of us know by now that the real estate market has experienced a pullback across the country which I believe is largely due to consumer confidence. The confidence level is at a low point and so we tend to tighten the belt and cut back spending. Inflation in the United States is up 4.2% as measured by the consumer price index ending May 31, 2008. America has experienced annual inflation greater than 4.2% only four times in the past 25 years. Large purchases are put on hold and we make do with our existing cars and homes. More recently, the oil prices are having quite an impact on our lives, especially on the cost of food and goods which are a direct hit to our bottom line.
The latest buzz in my market area of North Georgia from some local appraisors is the market has stabilized which begs the question, have we hit the bottom? If I knew the answer to that one, I would probably be living next door to Bill Gates. Over time, there are many cycles in the real estate market as with our economy and trying to time the bottom is nearly impossible. While I cannot say that we've reached the bottom or the worst is over or even yet to come, I can say that I am not sitting on the sidelines idly watching.
I strive to proactively monitor the market conditions in the North Georgia Blue Ridge Mountains and report the facts as accurately as possible, good or bad. Let's remember that we have come back from worse times. See market conditions for June for Fannin, Gilmer, Union and Towns Counties: North Georgia Blue Ridge Mountains Market Data (June)
So... Do you Buy Now ! When is the best time? The answer to these questions are based on many variables personal and unique to the individual buyer and should be carefully thought out. When analyzing your personal situation, wants and needs, and trying to decide whether to Buy Now, consider:
- the selection of properties for sale has never been better - everything is technically "on sale"
- prices are lower than they have been in years, and interest rates continue to remain low
- talking with a trusted Realtor who knows the desired market area
- Also, it's prudent to keep in mind that real estate should be viewed as a long term investment (typically 5 years or more)
I would like to encourage you to visit my website: www.move2northgeorgia.net as I will continue to monitor the real estate market and post the market data for your viewing, as well as in my blogs on Active Rain. I hope this will help you keep up with the real estate market in the North Georgia Mountains.
I know it's not enough to tell clients the real estate market is simply going through a normal business cycle. As a proactive Realtor working in real estate full time, I actively look for ways to give my clients the best results possible whether buying or selling. I understand that your future and the futures of your families are of the utmost importance.
Donna Yates, Georgia Realtor
Mountain Investments of North Georgia
Ofc: 706-946-7111 Cell: 706-633-0644 (direct)
Primarily serving the North Georgia Blue Ridge Mountains
Fannin, Gilmer, Union and Towns Counties
Edited: August 3, 2008