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Interesting Market ! Atlanta

By
Real Estate Agent with Keller Williams Realty First Atlanta

My sense of things in the Atlanta market is that we will remain in a 'bargain market' for all of 2009. But what better time to buy!  Sellers are competing for Buyers in today's market which means homes must be priced agressively for market conditions .  There are plenty of Buyers out there 'circling the wagons' and waiting patiently for the right price adjustment.  Slow 'sales activity' indicates a continued high level of Buyer price resistance in the current market. When a home is priced correctly, we often have multiple offers on the table. 

The Economic Stimulus package set forth with a tax credit to home buyers in 2009 will likely stimulate our seasonal activity for a brief period of time.  I believe that when the freeze on foreclosures is lifted we will have a large number of property floreclosures glutting the market, contributing to an already difficult year for property sellers but an outstanding one for buyers!  I would sell in the spring market when historically the highest value is recieved and then buy while the interest rates continue to drop. 

Sales prices in 2008, driven down by Buyer price resitance and forclosure sales is at levels unseen since 2003 in certain micromarkets.  Resale prices have dropped 12.4% in 2008. New homes are giving away plenty of incentives but Builders are reluctant to drastically drop prices so the rate of price decline is much less than Resales.  What you don't recieve in a drastic price reduction is seen in the buyer incentives such as finished out basements, or even a pool. 

Time will tell but again I believe optimistically that there are many deals to be made and Atlanta is still one of the best places to live in the U.S.A.  Cost of living and quality of life is fabulous ~ even the traffic problems have improved dramatically!  It's a great place to call home!

Check out www.WOW.AtlantaHomes.com for more Atlanta links and home news!

Janet

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My Best Always,
Janet Weidmann (Team Leader of the WOW Team) ......Certified Luxury Home Specialist ~ Certified Relocation Specialist ~ Certified Short Sales Specialist ~ Life Member Million Dollar Club ~ Top Ranking Agent 2004-2010 ~ Top 1% The WOW Team   Weidmann Real Estate or Weidmann Remodeling  ... Your referrals are the best compliment one could ask for! .... Oh, by the way... #1 Office in Sales Volume throughout the Atlanta Market 2009!
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Tracy Coles
Atlanta Communities - Roswell, GA
North Metro Atlanta Associate Broker

Janet,

Well written and right on target!  Having recently moved to Canton from SW Florida, I have seen how low prices can drop.  While prices here have definately dropped, people are still moving to Atlanta.  Bargian shoppers are out and about and deals are being made.  I am still working on building a referral network and would be interested in speaking wiith you.  I offer interior design, decorating and home staging services in Cobb, Cherokee and Fulton Counties.  Please check out my Active Rain site to find out more. 

Have a great day!

Tracy Coles

Mar 05, 2009 07:46 AM