Friday, November 2, 2012

Update on Georgia's Real Estate Market

In the Atlanta Business Chronicle's Home Quarterly, buyers and sellers received some very encouraging news.

Some highlights are featured below. If you'd like to receive the full report (pictured above) simply leave a comment below or click here to request it by email.

First Multiple Listing Service data for a nine-county area composed of Cherokee, Cobb, Clayton, Douglas, DeKalb, Fulton, Forsyth, Gwinnett and Paulding counties indicates that buyers are returning to the market, according to Charlotte Scars, president of Coldwell Banker Residential Brokerage in Atlanta.

The listing service reports that total inventory of properties for sale in September 2012 numbered 16,550, down 34.3 percent from last year, "and indicative of a lack of supply that has created pent-up demand for properly priced homes in the right locations."

Meanwhile, buyers are still waiting for prices to fall, but this is a big mistake.
“Sellers are receiving multiple offers on homes that are priced according to the competitive market, and if a buyer waits on the sidelines, the likelihood is that they will be disappointed to learn that the house they were interested in has been sold to another buyer.”
There are fewer foreclosures on the market than last year at this time, and they are selling at higher prices than last year, many of them over asking price."  

On the seller side of the market, "Things are better because equity owners that have
their homes on the market now have, for the most part, come to terms with the reality of prices.”

Tired of dealing with the multiple bids involved in buying foreclosed and/or short-sale properties, many of these buyers looking for a good deal have set their sights on well-priced resale homes instead, "which has been a very big win for sellers of these homes."

If  you're in the market to buy, would like to re-energize, or re-start your search for a property (including investment properties), please let me know. And if you'd like to re-evaluate selling your home, contact me for a free Maximum Price Analysis. I can be reached at (404) 857-2508.
As always, I appreciate your referrals :-). Talk to you soon and have a blessed day!
Natasha Liburd Bazile is a Realtor with Coldwell Banker Atlanta and the Lead Home Stager with Heart of Decor in Georgia (virtual services available). She prides herself in being a guide to her clients and finds fulfillment in helping them achieve their goals.

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