No doubt about it, it’s still a tale of 2 markets: 1/2 of the total sales are under $200k and the other 1/2 are over $200k. The under $200k market sales are increasing & inventory #s are decreasing – and with mortgage rates about .5 to 1% higher than 6 monts ago, Buyers who haven’t bought might have slept through the absolute best deals…they’re still out there, but there aren’t as many of them & TONS of other buyers are on the prowl.

What you want to take from this, however, is that there is yet another positive trend (or slight decline) in the # of foreclosure transactions in the market…2nd Qtr foreclosures represented 31.8% of all sales but in 1st Qtr they were 36.9% of all sales. The market is absorbing these homes…this is a sign of a rebound & we’re going to look back on this as the “bottom of the market” in years ahead. Right now is the opportunity for a Buyer to build equity for the next 5-10 years…and gain wealth through real estate in a way that can hardly be duplicated through any other type of investment. And for 1st time Buyers…you get paid to do it. So why not? Why not now?

And look at the increase in available foreclosures in the over $1 million market!  From virtually NONE (.06%) to 11% of the sales in that price point >  click here for a complete list of Atlanta Foreclusures over $1,000,000.  Still not much selling in that price point, but if you’re looking for a deal, you can find one…

I believe we’re actually a couple of months behind in the normal trends as well…we’re seeing our “Spring” Market now. It took a little while for things to heat up, but sales have really picked up this summer & you’ll see the effects of it in the info below…

I’ll be back w/ more tomorrow…or maybe Wednesday…but this is a little something to chew on & it paints a little of the picture to come.

If we can help you or anyone you know, don’t hesitate to ask. We’re never too busy and we love putting smiles on faces when we help someone buy or sell a home!

have a great week!
The Kelly Sells Atlanta Team
www.KellySellsAtlanta.com

This entry was posted on Monday, August 3rd, 2009 at 5:29 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.