In the heart of the equestrian community and within easy commutes of Atlanta and Buckhead, Alpharetta, Georgia offers a quality of life that translates into bargains for buyers, say local Realtors.

"Alpharetta is know for the fine quality of life it offers, fine schools, shopping, and upscale homes," say Realtors Jim and Ellen Crawford. "As of today, there are almost 45,000 active listings in all classes of our primary MLS service (FMLS). These are all-time highs in listing inventory that haven't been seen since the early 1990's. There are also in excess of over 3000 foreclosures a month coming on the market which are also record highs. With interest rates at 40-year lows, it is a great time to buy! Homes, pricing, and times on market will vary from price, location, and condition of the home."

The Crawfords advise, "So it's definitely a buyer's market in Alpharetta area of North Fulton county, sales are soft in the upper price ranges, and inventory and the days on market to sell has increased dramatically on homes priced over 500K. However, home values are still holding especially in new home construction. There is a shortage of product in new homes, and softening of pricing on resale. Also, sellers have started to reflect price changes on their properties, and the relocation market is off. Sales of existing inventory, and sales vary by price range and location. However, the lower rates are keeping some momentum in the market in moderate price ranges, and on brick homes, keeping listing prices firm. In this market, we are finding some flexibility in the seller's terms more so in the higher priced homes, and in moderate ranges the sellers are paying some buyer closing costs, repairs etc. Under 250K, it is business as usual."

Agrees Realtor Cathy Wilson, "Metro Atlanta is definitely a buyer's market and rates are still very low. Given this combination, 2003 is an excellent time to grab your new home! There is not a lot available in new home construction, but the existing home market has a lot to offer with sellers offering to pay some closing costs. The higher end market has been very slow."

But the desirability of the neighborhood has local Realtors convinced that buyers won't regret choosing Alpharetta.

"Alpharetta hosts many of the premier golf communities and upscale neighborhoods. Alpharetta is also known as the 'heart of the equestrian community' and offers one of the top school systems in Georgia," says Realtor Bob E. Gill, "The times are unique in Alpharetta, offering favorable market conditions for both buyers and sellers! Interest rates, at an all-time low, and potentially sliding even lower in the near-term, make this an opportune time for first-time homebuyers to own a home for nearly the same amount as they are currently paying for rent. For seasoned homebuyers looking to move-up, a low interest rate means that you can now get even more house for your money without significantly stretching your monthly payments! During the fall season, after the kids go back to school, many homeowners remove their homes from the market, reducing competition to those who choose to hang in and sell! During this unique neutral market -- both sides profit."

Click here to view current Market Conditions in your location.

Published: November 14, 2003

Use of this article without permission is a violation of federal copyright laws.