From our quarterly magazine, Spotlight on Country Club of the South - to request your copy, please email Maura@GebhardtGroup.com.
Dear Country Club of the South Neighbors and Friends,
Now that the holidays are over and we are at the start of a new year, it is time to review 2008 and chart our path for 2009!
I ended the last edition of Spotlight on Country Club of the South by anticipating a bottom to the downward trend in local real estate. However, the increasing negative consumer confidence, a declining stock market, a greater weakening of our economy and an unstable international environment, seems to be preventing any significant upswings for the housing market. It is now being predicted that the real market will not see any real improvement until mid-year, 2009.
The 3rd Quarter statistics for the Atlanta area shows that the residential sales for the metro area are down by 26.9% according to a mid- December article in the Atlanta Business Chronicle. Country Club of the South is down for the same period by 38%. In addition, the average sales price for the metro Atlanta area is 13.7% below the same period last year.
What does that mean to the residents in Country Club of the South? It means we are in a total buyers market! The few buyers who are out there are afraid to buy... afraid they are paying too much in this declining market. Many sellers, who understand the declines in their stock portfolios, cannot accept the decline of their property value!
Sellers who are truly motivated to sell need to price their home ahead of the declining market and make sure their home is in the best possible condition, both physically and cosmetically. Buyers, on the other hand, need to realize that now is the time to buy and to get financing in order.
The Real Estate Market is now experiencing a Price War and a Beauty Contest at the same time!
Need help in contesting your property value for Fulton County tax purposes or need to know the current value of your home?
Pam Gebhardt, ABR, CRS, GRI, CLHMS, e-Pro, SRES
The Gebhardt Group
RE/MAX Greater Atlanta
10220 Medlock Bridge Road
Johns Creek, GA 30097