Atlanta Home Values-What the Recovery Means to YOU as an Atlanta Home Buyer!

Atlanta Home Values-What the Recovery Means to YOU as an Atlanta Home Buyer!

Atlanta home sales are rising...slowing, but surely. Soon, builders will be buying lots and building again and prices will no longer be in free fall. After so much pain, signs of a recovering housing market are starting to surface, so what does this mean to you??

For folks in the high-end market, this still means long waiting periods. In the mid-range homes in Atlanta, we are still seeing homes move at a fairly decent rate of 6-10 months. Of course, the lower-priced Atlanta foreclosures and Atlanta short sales is where we see most of the action occurring. A big chunk of the 1.9 million post-boom foreclosures have been among the least expensive of the 35% of homes.

The tax credit did a world of good for stabilizing home values and we say an increase of 9% from a year ago in the $100-250,000 homes due to it. However, we'll truly start to see the end of the housing bust once unemployment stabilizes.

Despite the hurdles, the Atlanta home market is not as bad as it may seem. But, of course, you won't hear news headlines of that nature. Greater demand combined with less supply is providing a big spark to the Atlanta home market. Buyers in many Atlanta areas are going up against the dreaded "multiple offers". This can easily be overcome for buyers with terms that the banks understand like large earnest money deposits, quick closes and low contingencies.

Since the beginning of 2010, over 20,849 homes have SOLD according to FMLS data. This is an average of 3,500 homes per month (that have been changed properly in the system). Not too shabby considering all of the doom and gloom talk. The bottom line is that Atlanta foreclosures have always been around, they always will be around, but the bottom has hit and there is still a limited window of opportunity left to capitalize on one of history's BEST buying opportunities.

If you're looking to find your next STEAL OF A DEAL, call me today and let me show you how to make waves in this unprecedented time.