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Ding Dong! Since, Nobody Else Will Do it...Allow Me! The Atlanta Real Estate Market Has Bottomed Out.....

By
Real Estate Agent with Seasons Realty Group of Atlanta Communities

Ding Dong! Since, Nobody Else Will Do it...Allow Me!
The Atlanta Real Estate Market Has Bottomed Out.....

So, I just did it. That's right! I rang the bell that EVERYONE is waiting to hear. The bell that signifies the bottom of the market.

In my opinion, the bottom hit two months ago and everyone is JUST WAITING FOR SOMEONE TO RING THAT BELL, so they can feel comfortable about buying again, so allow me.....

Why do I say this even though the media is still hounding us with negative news and hopeless talk?? I say it because I live, eat and breathe real estate every single day. I cannot attest of other markets, but in the Atlanta real estate market, I can see a SIGNIFICANT shift in the way the game is being played.

Last week I wrote 50 offers. YES, 50 and only THREE of them got accepted. That is because someone else offered a better price, beat us to the punch or submitted their "highest and best" above full asking price. Why would someone do that in today's market??

The fact is--is that right now; a lot of sellers (including Atlanta Foreclosures and Atlanta Short Sales) are pricing these homes to move and move fast. The days of motivated sellers "playing" with the market are long gone. Unfortunately, for a buyer, they feel if they don't get $30-40k off asking price "they are not getting a good deal." Good deals don't stare you in the face, good deals are made--and this month, I have made over 10 good deals happen for my buyers. Most agents hope to close 10 deals all year!! Not to shabby for what is "labeled" as a down market.

A Few Other Facts to Support My Theory:

  • I am currently working with over 30 Atlanta home buyers right now who are qualified (not just pre-approved), ready to close and actively looking to secure their new home or investment property in the next 30-60 days.
  • I have not lost ONE home to a buyer NOT getting financed-money is not as hard to get as the media makes it out to be.
  • Atlanta home prices dropped for 8 consecutive months and starting increasing (a small amount) the last two months. Hmmmm...this closely resembles the bell shaped curve of the lifecycle real estate has always followed.

  • Atlanta is an END-USER town and as many people that have been laid off; companies have relocated and hired new people. There is SO MUCH opportunity and work in Atlanta. Atlanta will ALWAYS be a transitional professional mecca.
  • Atlanta did NOT see the inflation other areas like Florida experienced, therefore rebound will be significantly less.
  • Forbes states Atlanta is on the rebound as early as 2009.
  • I could go on, but I think you see my point....

Since everyone is waiting for the bell to ring, I decided I would go ahead and do it! Ding Dong!!!

Comments (1)

Erik Hitzelberger
RE/MAX Alliance - Louisville REALTOR-Luxury Homes - Louisville, KY
Louisville - Middletown Real Estate

Winter - This is an excellent report and great news for the Atlanta real estate market.  The fact that you have 30 qualified buyers should be a strong indication to others with regard to their chances of finding a 'great' deal.  If a buyer wants to find a good deal in Atlanta, they need to have financing set up and be ready to act quickly. 

Jan 16, 2009 03:43 AM