Market Conditions for Duluth, Georgia Reported by HANK MILLER - Broker & Cert Appraiser, SRA, ABR Updated January 15, 2012.

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 3 1 2 3 4 5 Falling Rising

Duluth real estate data and home price trends are updated weekly on www.hounddogrealestate.com - just hit the Market Conditions link on the main menu. As stated by the President of the NY Federal Reserve, "If prospective homeowners no longer fear that prices could decline further, they will be more willing to enter the market to take advantage of reduced prices and low financing costs, and existing homeowners will feel more confident about spending." In short; appreciation isn't required; stability is.

Current data shows that values in the Duluth real estate market have largely stabilized. Review of micro markets shows some with slightly increasing trends when viewed over the last six to twelve months. There are likely several reasons for this; the main ones being area desirability, good schools, economic stability and shrinking inventory. The low mortgage rates have obviously helped as well. Whether or not Duluth has turned the corner remains to be seen but the signs of stability are certainly welcome.

For you Duluth home sellers, success is predicated upon accurate PRICE, extensive EXPOSURE where the buyers are, and APPEAL to emotionally lock in a buyer. Each of these has to be aligned or the home will sit. You will see the most activity in the first 45 days - the buyers are scouring new inventory and if your home doesn't contract in that time it's likely to take a while. The market is always right and it doesn't care about what you think the home is worth, what you paid or what you put into it. Neither will that appraiser, if you're fortunate enough to get an offer.

For home buyers in Duluth, stop obsessing about foreclosures and bank owned homes; most are not the bargain you think they are. Define success and act when it's found; thoroughly qualify your agent, find a home you want to live in, absorb all data and pull the trigger if things line up. You're not likely to buy a home at 60% of value - the REO game has completely changed and banks are aggressively chasing the highest prices possible. Foreclosures are a very risky buy for a ton of reasons - most are best left alone.

There is no set answer for the "how's the Duluth real estate market" question; there are far too many variables. There are answers when we start looking at specific areas, zips or communities; we kick out answers daily at www.hounddogrealestate.com

I get surprised at the number of people that tell me they've "read me for months or years"; I enjoy writing. That said, this site is designed for the quick analysis so here's my single most important piece of advice for Duluth home buyers and sellers: EDUCATE YOURSELF. Your agent will impact you financially both buying and selling. This should be a complete business decision - listings that languish, buyer opportunities missed, poor data analysis, contract negotiations screwed up, inability to take charge…cost you time and money. Aunt Molly, Eddie from the tennis team or Sally the hairdresser probably should be left alone. I cannot describe how fluid the real estate field is right now and it will remain so for the foreseeable future; experience matters.

Educate yourself, recognize the value of experienced agents and remember that nothing is easy right now. Drop me a line if you have any Duluth real estate or appraisal questions hank@hounddogrealestate.com - www.hounddogrealestate.com.


ZIP Codes: 30097, 30096, 30155, 30136, 30169

Approximate Location Boundaries: NE Metro Atlanta area

Location Characteristics: Duluth is a popular residential area NE of metro Atlanta. It is home to several golf communities and there is a large selection of price points to select from. The area is convenient to major highways and everything is easily reached. Duluth enjoys a favorable local market reputation.

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