NancysNewHomes.com Logo

Door Image

Dorsey Alston Logo

Archive for September, 2012

Atlanta’s Real Estate: are we there yet?

Friday, September 21st, 2012
Nancy Aoneck, Realtor helps me buy a housee

Nancy Aroneck & Company Opens the door to Atlanta Real Estate

Realtors and statisticians all say that when the real estate market has 6 months of “inventory”, we are in a balanced market. If the inventory is above six months, as it has been for the past several years, it is a buyers’ market; below six months, it’s a sellers’ market.

Some people say that Arizona was the epicenter for the real estate crash. In 2011, 60% of Arizona’s real estate transactions were REO’s (REO = Real Estate Owned; ie: properties owned by a bank or investor). In 2012, that number is down to 10%, with a 1.5 month inventory. SIX WEEKS’ inventory??!!! In the past, Atlanta and the east coast followed Arizona, California and the west coast in recent real estate trends; how far are we behind them now?

Although the East coast is not yet at the 6 week-inventory mark, Atlanta is no longer in a buyer’s market. It’s a seller’s market when a seller is priced right and that property is in the right condition . I know this is difficult to understand if you are a buyer and listening to too many talking heads on tv, but with rates below 4%, you are still sitting pretty! What are you waiting for?