Mike’s Corner
The last few weeks have been eventful and historic for our country as well as the Atlanta real estate market. The Bailout is being debated on Capitol Hill, including a bill proposed by Ga. Senator Johnny Isakson that includes a $15,000 tax break to anyone who buys a house in 2009, which was unanimously approved on Wednesday.
Atlanta is experiencing a number of changes, as signs of the times, with a new development in the Heart of the City about to be part of a liquidation auction sale (The Element across from Atlantic Station- call me for more details & the background info on the whole situation), foreclosures so low in Dekalb County, Fulton County, and Clayoton County that people are buying houses cheaper than cars (If you need proof please email me and I’ll send you over 100 examples from the last few months), interest rates at historical lows, and sellers beginning a heavy new trend in short sales (selling for less than the outstanding loan on the house)– NOW is the time to SEIZE THE OPPORTUNITY.
If ever there were a time to buy, I’m declaring 2009 is the year of the Buyer! The Chinese New Year said it is the Year of the Bull, but you'd be crazy not to think homebuyers, especially 1st time homebuyers are in an incredible position to seize the moment & some instant equity. You won’t know the how great of an opportunity it is until you see the results in your rear view mirror. If you or anyone you know needs assistance navigating the real estate market, please don’t hesitate to call me!
The great news is that with the dip in prices & interest rates – we’re now in a position where the percentage of household income allocated to pay mortgages is near its all-time low! Beyond that, Metro Atlanta's cost of living traditionally been a fraction of other major metropolitan areas around the country.
Feel free to email or give me a call to discuss the Metro Atlanta housing market or send a referral my way. I posted a "Hot Buy" list to my sphere of contacts about a 4 bed/2 bath home on the border of Grant Park/Ormewood Park (2 neighborhoods where the average homes on the market range from 200k-450k) that hit the market at $29,900 - that's right UNDER THIRTY THOUSAND DOLLARS! Within 3 hours I had 6 people interested in buying the home - except it had already gone to a multiple offer situation with so many offers flooding in that the broker & bank cut off all offers.
This is the time to SEIZE THE MOMENT and CREATE GENERATIONAL WEALTH (take care of yourself and the family members that come after you by creating a portfolio of wealth).
Call me at 404-310-8364 or email me at mike@michaelneville.com
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