North Atlanta 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 North Atlanta real estate market range from slightly up to continually declining. Review of micro markets shows the expected mix but with several stable when viewed over the last six to twelve months. A few lucky areas are actually in positive territory over the last six months; not many buy a few. Declining values still plague many areas, the presence of distressed inventory one of the main reasons.
For you Atlanta 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 Atlanta, 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 Atlanta 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 Atlanta 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 Atlanta real estate or appraisal questions hank@hounddogrealestate.com - www.hounddogrealestate.com.
ZIP Codes: 30327, 30305, 30319, 30328, 30338 Approximate Location Boundaries: North Atlanta, North of I-20 - Buckhead, Sandy Springs, Midtown, Peachtree Hills, etc
Location Characteristics: This is the North Atlanta area, North of I-20. Many of the most desirable areas of metro Atlanta are located here. Given the nature of the area, it is misleading to make a general comment of the area as a whole - each subarea needs to be evaluated as the market is different in each. The best thing for you to do is visit my site www.hrmiller.com and drop me a line for a personal area evaluation.
About HANK MILLER - Broker & Cert Appraiser:
Hank is a licensed broker and certified real estate appraiser in the state of GA. He has over 23 years of full time real estate experience and consistently ranks at the top of all Atlanta area agents in terms of overall production. He is known as much for his attention to detail as he is for his candor.
His background includes: •Georgia associate broker •Georgia certified appraiser,Fannie/Freddie/HUD approved •Accredited Buyer’s Representative (ABR) •Past Member Appraisal Institute (SRA) •Relocation certified (CRC) •New construction and development expertise •Fraud and foreclosure expertise •Expert witness in select cases •Consistent multi million dollar performer •Published author of several industry articles •Officer - US Army Corps of Engineers
He advises both buyers and sellers – call or email today to see how he can help you! Visit him on the web – www.hounddogrealestate.com
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
