Home sales are beginning to increase as more buyers are taking advantage of the $8,000 homebuyer's tax credit which expires at the end of November. Interest rates are still at an all time low and it is absolutely the best time ever to buy a home. This is not just a market for first-time homebuyers, if you currently own a home and have thought about moving up to a larger home, NOW would be the best time to make a move. Although you may lose money when you sell, you'll make up the difference and more when you buy. According to GAMLS stats, we still have about 9.6 months worth of inventory available in Newton county.
We have seen a large number of foreclosures in the Newton county area, which insures you to find a great home at a terrific price. The National Association of Realtors says more than 50% of home sales in August were tied to First Time Home Buyers, many of whom purchased foreclosures!
Currently there are 1,123 homes on the market with an average list price of $178,735. With 141 homes selling in July this equates to a 9.4 months supply. July saw 141 homes sell with an average sales price of $110,502 compared to 127 homes selling last year for $137,407 or a 19.6% decrease in price over last year. Year to date 876 homes sold in 2009, compared to 818 in 2008 or an increase of 10.7%. With interest rates continuing to stay under 6% and more homes on the market to choose from, now is a good time to buy, especially with the Federal and state tax incentives. For the seller, because there are more homes on the market and sales year-to- date are down, they may be faced with a longer selling time and must be willing to negotiate on offers presented.
Foreclosures continue to dominate the local real estate scene. There were 54 new foreclosures in Newton County during July, which is the same amount this same time last year.
The question was recently asked, "When is it going to get better?" Get better for whom", the speaker asked. The truth is "It Will NEVER be better for buyers than it is right now"!
What are you waiting for? This is the best buyers market since the 1950s! Rates have never been better! We've about hit bottom in the Atlanta metro area and the market will soon be on its way back up and taking rates with it!
Don't miss out on this great time to buy your dream home today. CALL me NOW 678-576-9366!
ZIP Code: 30014 Approximate Location Boundaries: East Atlanta area including Conyers, Covington, Oxford, Porterdale, Newborn, Mansfield and Social Circle.
Location Characteristics: Beautiful Historic location, convenient to downtown Atlanta. The small town feeling with the Big town heart. Many popular films have been recorded in our area including, "Heat of the Night," "My Cousin Vinny," "Dukes of Hazzard," and many many more. Come check out our small town today!
About Karen Hedrick:
Hello! Thanks for visiting the Market Conditions Report. This report is designed to be your complete East Atlanta Real Estate resource. The information will guide you to the Newton County real estate market area. I hope this information that will help answer your questions concerning available East Atlanta Real Estate and community issues. Please visit my website at www.KarenHedrick.com for more useful tools to assist you in the process. I invite you to call me for personal, one-on-one help with what some say is the biggest decision you will make in your life. If you have any questions, please don't hesitate to call or email me.
• Buying a Home? I'll take the time to listen to your needs and desires, and find your dream home. Your total satisfaction is my number one priority. • Selling a Home? I will get your home sold for top dollar and in a timely manner. My online and offline marketing programs will give you the edge you need to sell your home. I don't want to just list your home, I want to sell it! Fast! • Relocating to the East Atlanta Area, including Conyers, Covington, Oxford, Porterdale, Newborn, Mansfield and Social Circle? If you are moving to my area, I can assist you in collecting the information you need, and make your transition as smooth as possible. Feel free to contact me for home finding assistance and area information. I have built a reputation for client satisfaction, and I am devoted to making your move as easy as possible. You will have the added benefit of working with an agent who understands your needs when buying, selling, or relocating to the East Atlanta area. Finding the right home is only the beginning. I will assist you every step of the way to ensure smooth sailing. Thank you for visiting my site. Please bookmark it, and visit it often. I look forward to hearing from you. Sincerely, Karen
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
