Watch the news lately? If you are buying or selling a home the news can be disheartening.
If you are a seller the news creates a picture that your home will never sell. If you are a buyer the news creates a picture that prices will continue to drop futher creating a picture that buyers will soon be able to purchase a mansion for the price of a bungalow.The truth is the Atlanta real estate market is experiencing a strong buyers market. Atlanta does have an abundance of inventory on the market which has led to a slight depreciation in most areas. And yes, homes are on the market longer than they were a year ago, but overall our market is still holding strong. This is very evident when comparing the Atlanta market to most other markets nationwide. There are just a handful of markets that are doing better than the Atlanta market. Data from the FMLS listing service shows us that we will have closed as many homes in 2007 as we did in 2002 and 2004. This tells you that we have the same number of buyers. The same number of buyers tells us that our market is not only surviving but thriving.
This means that sellers can sell their homes. Even with an abundance of supply you can get your home sold in a short amount of time. It simply takes the proper positioning which includes price and staging among other things plus you will need an aggressive and creative real estate agent. The only thing that has changed for sellers in this market is the competition is more fierce. And because there is no room for error, I would make sure you are represented by a strong agent. Otherwise, you could sit on the market and lose money.
For buyers, this could not be a better time to buy! Interest rates are at all time lows. Sellers are negotiating more than ever including builders. The market is not going to get much better for buyers… it is pretty darn good! There are a lot of properties on the market, but when you take a closer look you will soon realize that there are not so many great properties…the “creme of the crop” properties. If you want a great deal on a great property then get ready to make the offers because the great properties are selling and in a shorter amount of time. If you want a steal of a deal on the not so great properties you will need to wait… wait for them to sit on the market and become stale. Do not be afraid to purchase property. Real estate is a long term investment, not a short term get rich quick scheme. The Atlanta market has always appreciated at a modest rate. This explains why we remain a more stable market.Is the media wrong with their reporting? No, it is just that their reporting is nationwide which includes the hardest hit areas like Florida, Detroit, and California. These areas skew the overall numbers. These numbers do not represent our local market.The bottom line…Get with a great agent and your home will sell. Get with a great agent and you will get a great deal on your new home. A great agent is not just an agent that provides great service. A great agent is an agent that tells you what you need to hear and not what they think you want to hear!
