Showing posts with label Atlanta homes values. Show all posts
Showing posts with label Atlanta homes values. Show all posts

Monday, December 26, 2016

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor - December 2016

Berkshire Hathaway HomeServices Georgia Properties
Real Estate Advisor – December 2016


We wish you a Merry Christmas, Happy Hanukkah and Happy Holiday. Enjoy time with your family and friends and be safe during the holiday season. This is a special time of year and we thank all our clients for their trust. 2016 has been a very good year for our clients and the outlook for 2017 is very positive.
 


Zillow reports that Christmas Day, New Year’s Day and the first few weeks of January are some of the busiest online shopping days for real estate. For our seller clients, we have special programs underway so you can take advantage of these opportunities! First, we are running extensive ads on Zillow searches to attract more buyers. No other brokerage provides this level of exposure on the largest real estate website with over 65% online market share.
 
Our company is strategically partnering with the Zillow Group to introduce a new Zillow Video Program that will dramatically increase views for our listings. Zillow ranks listings with Zillow Videos first in their search results which provides 2X the listing views versus other listings. Buyers also save Zillow Video listings as favorites at twice the rate of other listings.

The new program will include Zillow WalkThrough videos plus options for Professional Videos on luxury listings. We are organizing strategic vendor partners to help supercharge our Zillow Video inventory. The program includes training, certifications and more to ensure the highest levels of quality. We have a dedicated Zillow Team working with us to help the program move faster. Our goal is to have Zillow Videos on the majority of our residential listings by the end of February 2017. As we move into the early spring market, our seller clients will benefit from the increased exposure to more buyers.

As the recipient of the first ever Zillow Group Broker of Excellence Award, we will continue to partner with Zillow to introduce innovative programs that benefit our clients.
The Metro Atlanta real estate market remains active during the holiday season. Here is the summary for Metro Atlanta real estate through November 2016.
  • Closings for November 2016 were down 9% from last month and up 21.9% from last November. Year-to-date 2016 closings were up 10.6% compared to YTD 2015.
  • The average sales price for October was $279,000 which is up 3.7% from last month and up 5.2% from last year. The Average Sales Price is on track to beat the record levels posted back in 2006.
  • The listed inventory for November was down 5.4% from last month and down 3.3% from last year. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for November was 4 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 14 months and properties over $2 million averaging 33 months to close.
  • The latest Case-Shiller Index (11/29/16) was up .16% from the previous month. Metro Atlanta home values are up 61% from the recent bottom of March 2012 and up 7.6% from the average index last year. Increased home values are building positive equity and getting more sellers back into the market.
  • Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. The recent Fed hike has driven mortgage rates higher and many buyers are taking action before rates rise further. Our Close On Time Guarantee and Free Second Opinion programs have been very beneficial to our clients!

Click here for a more detailed set of charts including the National Real Estate Market, Metro Atlanta Real Estate Market and Trends impacting Atlanta Real Estate.
 
The chart below shows a summary of Metro Atlanta Home Values according to the Case-Shiller Index for Atlanta. This is an interesting perspective for general home values across Metro Atlanta. As you can see, home values have essentially recovered from the real estate recession. Local areas and price points will be different. Homes between $200,000 and $500,000 have been in high demand and may show higher gains while the luxury market may show smaller gains. Yes, real estate is truly local.
Our website provides Instant Home Values Estimates for any property in the country. You can also model changes to see the impact on the estimated value. Check out your latest estimate!
We can provide you the most accurate value estimate since we have access to proprietary information sources and local details. Contact us for more information.

Year Property BoughtAverage Gain/ LossYear Property BoughtAverage Gain/ Loss
200028.82%20088.43%
200121.99%200922.67%
200217.46%201025.73%
200313.76%201135.20%
20049.89%201246.59%
20054.62%201323.89%
2006-0.16%201413.35%
2007-.80%20157.61%

We would be honored to assist you or someone you know with their real estate needs. We are experts in the local market and have access to proprietary information sources that are not available to the public. Better information leads to better decisions.
Merry Christmas, Happy Hanukkah and Happy Holidays!

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 678-513-2014 or email us at Arthur.Prescott@BHHSGeorgia.com.

Thursday, November 24, 2016

Berkshire Hathaway HomeServices Georgia Properties Metro Atlanta Real Estate Update – November 2016

We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us to find out the specific details for your local area. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information helps our clients make better real estate decisions!
 

The Metro Atlanta real estate market remain active going into the holiday season. Here is the summary for Metro Atlanta real estate through October 2016. Click here for more detailed slides.

  • Closings for October 2016 were down 14.4% from last month and up 2% from last October. Year-to-date 2016 closings were up 9.2% compared to YTD 2015.
  • The average sales price for October was $270,000 - down 1% from last month and up 5.4% from last year. The ASP is on track to beat the record levels posted back in 2006.
  • The listed inventory for October was up 1.9% from last month and down 3.4% from last year. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for October was 4.1 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 17 months and properties over $2 million jumping to an average of 55 months to close.
  • The latest Case-Shiller Index (10/25/16) was up .23% from the previous month. Metro Atlanta home values are up 60% from the recent bottom of March 2012 and up 6% from the average index last year. Increased homes values are building positive equity and getting some sellers back into the market.
  • Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. Recent events have driven mortgage rates back down to historically low levels. This creates a great opportunity to buy before rates move back up! Ask about our new On Time Closing Guarantee program!
  • New Homes are moving fast – but many builders cannot build them fast enough for the demand. Visit www.newhomesdivisionga.com to view new home communities.
  • Commercial real estate is also making a comeback in Metro Atlanta. Our Commercial Real Estate Division specializes in these areas and would be happy to help you.

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 678-513-2014 or email us at Arthur.Prescott@BHHSGeorgia.com.

Sunday, October 16, 2016

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor For Metro Atlanta – October 2016! Let's Check The Highlights!

Highlights from the Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor For Metro Atlanta – October 2016.

The Metro Atlanta real estate market is still hot as we move into the fall. Here is the summary for Metro Atlanta real estate through September 2016. Click here for more detailed slides.
  • Closings for September 2016 were down 18.3% from last month and down .3% from last August. Year-to-date 2016 closings were up 8.7% compared to YTD 2015.
  • The average sales price for September was $274,000 - down 4% from last month and up 4.9% from last year. The ASP is on track to beat the record levels posted back in 2006.
  • The listed inventory for September was up .4% from last month and down 4.1% from last year. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for September was 3.9 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 18.1 months and properties over $2 million averaging 33.2 months to close.
  • The latest Case-Shiller Index (9/27/16) was up .39% from the previous month. Metro Atlanta home values are up 60% from the recent bottom of March 2012 and up 7.21% from the average index last year. Increased homes values are building positive equity and getting some sellers back into the market.
  • Visit HomeServices Lending at http://Georgia.HomeServicesLending.com for the latest mortgage rates. Recent events have driven mortgage rates back down to historically low levels. This creates a great opportunity to buy before rates move back up! Ask about our new On Time Closing Guarantee program!
  • New Homes are moving fast – but many builders cannot build them fast enough for the demand. Visit http://www.NewHomesServicesGA.com to view new home communities.
  • Commercial real estate is also making a comeback in Metro Atlanta. Our Commercial Real Estate Division specializes in these areas and would be happy to help you.

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 678-513-2014 or email us at Arthur.Prescott@BHHSGeorgia.com.

Sunday, July 19, 2015

Berkshire Hathaway HomeServices Georgia Properties Metro Atlanta Real Estate Advisor - July 2015! We Check The Stats!

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – July 2015


We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us to find out the specific details for your local area. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know.Better information helps our clients make better real estate decisions!


Summer is here. The real estate market is hot and sales activity is high. Click here for the full Greater Metro Atlanta Real Estate Report. Here is a summary:
  • Closings for June were up 4.9% compared to last month and up 12.3% compared to last year.
  • The average sales price jumped to $288,000 in June versus $281,000 in May. The average sales price for year-to-date 2015 is $263,000 which is up 49% from the bottom of 2011.
  • Listed inventory was up 5.3% from last month and flat compared to last year. Inventory is up 42% from the recent bottom of February 2013. But the limited availability of highly desirable properties in select markets is still driving multiple offers and very quick sales in those areas. Remember, real estate is local and markets can be very different.
  • Months of supply remained very low at 3.5 months for both May and June. Six months is considered normal. Luxury properties are taking longer to sell with homes above $1 million showing 10 months of supply and properties over $2 million showing 21 months of supply.
  • The latest Case-Shiller Index (6/30/15) reports that Metro Atlanta home values are up 47% from the recent bottom of March 2012. Increasing homes values are getting some sellers back into the market but also decreasing affordability for other buyers.
  • Mortgage rates remain very attractive but are expected to move higher soon. Click here for the latest rates.
  • New Homes are moving fast – but many builders cannot build them fast enough. Visitwww.NewHomesServicesGA.com to view new home communities.
  • Commercial real estate is also making a comeback in Metro Atlanta. Our Commercial Real Estate Division specializes in these types of projects and would be happy to help you.


MEGA Open House Event!



Berkshire Hathaway HomeServices Georgia Properties is pleased to announce our next MEGA Open House event on Sunday, July 19th from 2-5pm. There will be hundreds of beautiful properties on display. With low inventory and mortgage rates expected to rise, the market is very active this summer. Visit one of our open houses and register for a chance to win a brand new iPad Air2. Contact us to learn more.


SOLD PROPERTIES Now Available!



New MLS rules now allow us to show SOLD PROPERTIES on our websites without requiring registration. Now you can easily view SOLD PROPERTIES on your desktop, laptop, tablet or smartphone. This also applies to our Mobile App. Our search tools offer the best data and most comprehensive options. Here are some examples of searches you can perform:
  • See Instant Home Value Estimates
  • Search By Google Map
  • Search By Neighborhood (using Advanced Search Options)
  • Search By School District (using Advanced Search Options)
  • Search By Drive Time and Walk Score (Mobile App)

We would be honored to assist you or someone you know with their real estate needs. We are experts in the local market and have access to proprietary information sources that are not available to the public. Better information leads to better decisions!

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 678-513-2014 or email us at Arthur.Prescott@BHHSGeorgia.com.

Friday, May 03, 2013

Metro Atlanta Case-Shiller Index Reported April 2013! See The Latest Housing Trends, Sales, And Market Data For Atlanta!

Today, we are posting the lastest real estate news for the Metro Atlanta Market, which allows us to get a bigger picture view of how the housing market is performing in the metro area, and in areas where many Lake Lanier home owners have their primary residences.  This posting is provided to us courtesy of Prudential Georgia Realty and their atlrealestatescoop blog!

The latest Case-Shiller Index was published on Tuesday, April 30th 2013. As always, the index reports on data 60 days in arrears. Therefore, the index reports Metro Atlanta home values for February 2013. So what does the latest index show and what does that mean for home values in Metro Atlanta? Things are improving in our market however two important considerations must be taken into account. First, the Case-Shiller index of home values is very different from average sale prices or median homes prices. The Case-Shiller Index reports on repeat properties sold, which are generally better indicators of home values. Second, this index reflects average home values for all of Metro Atlanta. Remember, real estate is local and every market is different. Your local Prudential Georgia Realty agent can help you understand the specific metrics in your local market.

Now for the news…. Average home prices for the 20-City Index increased by .3% compared to last month and increased 9.3% over the past year. The January index for Atlanta shows a .03% (non-seasonally adjusted) increase in home values from January 2013 and a 16.5% increase over the last year. While these numbers are positive, we must bear in mind that home prices are still down 28.91% from the peak of July 2007. The current Case-Shiller index reflects values similar to home values in the summer of 1999. The January index for Atlanta is 97.01. Phoenix, San Francisco, Las Vegas and Atlanta were the four cities with the highest year-over-year price increases. New York, Boston and Chicago showed the smallest year-over-year improvements.

The Metro Atlanta real estate market continues to show signs of improvement for sellers. Listing inventory is down 36.4% from 2012 and down 56.4% from 2011. That represents around 3.7 months supply of inventory based upon the latest closed sales trend. Six months supply is considered normal. We have seen an extended period of low inventory since last year. Buyer activity remains strong led by baby boomers, first time buyers and investors. At the same time, the pace of pre-foreclosures (notices of default) and foreclosures has slowed. RealValuator reports that short sales and foreclosures were over 60% of the transactions sold in 2010 but are now down to 37% in 2013. Market sales (resales, new homes) are outpacing bank-owned sales. Your local PGR agent can show you the specific conditions in your market so you can make the best real estate decisions.

We have now seen a series of positive results from the Case-Shiller Index but the last few months show the trend slowing or leveling off. Over the next few months, we expect to see more positive results as we get into the height of the spring market. We are moving back to a more normal seasonal pattern where the spring and summer months are the heaviest selling months. View the graph of the monthly Case-Shiller results from 2010, 2011, 2012 and 2013:



If you look back further at home values (see chart below), you can see that we had a bubble in homes values. As with many cyclical markets, we have over-corrected with values that are below the normal trend line. Over time, we expect this pattern to normalize and values will return to this predictable track. That makes now a great time to buy or invest in real estate for Metro Atlanta – BUT don’t wait too long!





This chart shows the “months supply” based upon price ranges. As you can see, the supply is very low in the lower price ranges. Some of this is due to heavy investor activity under $200,000. As you get to the luxury market, there is more supply available based on the rate of closed sales. Contact your local PGR agent to see the latest trends in your specific area.





If you look at the average annual Case-Shiller index for each year, here is how homes purchased in recent years would compare to the current index:

Homes Bought in 2000 – Loss of 6.03%
Homes Bought in 2001 – Loss of 11.01%
Homes Bought in 2002 – Loss of 14.31%
Homes Bought in 2003 – Loss of 17.01%
Homes Bought in 2004 – Loss of 19.84%
Homes Bought in 2005 – Loss of 23.68%
Homes Bought in 2006 – Loss of 27.16%
Homes Bought in 2007 – Loss of 27.63%
Homes Bought in 2008 – Loss of 20.90%
Homes Bought in 2009 – Loss of 10.51%
Homes Bought in 2010 – Loss of 8.28%
Homes Bought in 2011 – Loss of 1.37%
Homes Bought in 2012 – Gain of 6.92%

Yes, we are slowly climbing our way out of this unprecedented housing crisis – but we are not quite there yet. So where will home values go from here? The key factors that will impact our home values include the following:

Demand from Buyers: Demand continues to be strong as buyers take advantage while prices remain below replacement costs and mortgage financing is historically low. We expect to see an 8-10% increase in units for 2013. Large investors are creating strong demand for rentable single family homes under $200,000. We will be watching that for a potential bubble. But we also see significant pent-up demand from normal household formation and a very active baby boomer market driving general demand. We expect to see the return to a more normal market of 80,000 to 85,000 homes sold per year.

Mortgage Rates/ Credit Availability: Average mortgage rates in the past 50 years were 8%. We expect to see historically low mortgage rates continue while the Fed is still purchasing $85 billion of bonds and mortgage-backed securities each month. But this stimulus to keep rates artificially low will not last forever as the Fed is already signaling they may start to slow down this program. Freddie Mac and the Mortgage Bankers Association predict mortgage rates to rise to over 4% in 2013. In 3-5 years, we expect to see rates in the 6-8% range again.

Supply/ Inventory Levels: Most of our markets are showing inventory levels down well over 30% from the prior year levels. New homes will continue to grow but not fast enough to have a significant impact on inventory levels. As values begin to rise, we expect “sideline sellers” to get back into the market. Overall, the “for sale” inventory will remain low compared to normal levels.

Competition from Short Sales/ Foreclosures: In 2010, RealValuator reports that short sales and foreclosures were over 60% of the transactions sold but have dropped to 37% in 2013. We are now seeing resales and new homes outpace the sales of bank-owned properties.

It is clear that the housing market for the Greater Metro Atlanta area is improving. Right now, we still have low prices and incredible mortgage rates. You and your agent should be carefully watching the leading indicators. There are some great opportunities to buy or invest. But the low inventory may cause prices to start rising at an abnormally high rate. In 5 or 10 years, many will look back and regret not buying their dream home when they had the chance! Check back for our next posts with the latest facts and insight that can make you money!



Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at 678-513-2014 or email us at APrescott@PrudentialGeorgia.com.
Enhanced by Zemanta

Wednesday, March 27, 2013

Metro Atlanta Case-Shiller Index Reported March 2013

The following report has been re-posted courtesy of Prudential Georgia Realty's AtlScoop Blog.


The latest Case-Shiller Index was published on Tuesday, March 26th 2013. As always, the index reports on data 60 days in arrears. Therefore, the index reports Metro Atlanta home values for January 2013. So what does the latest index show and what does that mean for home values in Metro Atlanta? Things are improving in our market however two important considerations must be taken into account. First, the Case-Shiller index of home values is very different from average sale prices or median homes prices. The Case-Shiller Index reports on repeat properties sold, which are generally better indicators of home values. Second, this index reflects average home values for all of Metro Atlanta. Remember, real estate is local and every market is different. There are some local communities that have held their values reasonably well and others that may continue to decline. In fact, some homes entering the market are getting multiple offers and closed prices above list price. Your local Prudential Georgia Realty agent can help you understand the specific metrics in your local market. However, the Case-Shiller Index is a good general indication on what is happening in our market.


Now for the news…. Nationally average home prices increased by .01% when compared to last month and increased 8.1% over the past year. The January index for Atlanta shows a 1% (non-seasonally adjusted) increase in home values from December 2012 and a 13.41% increase over the last year. While these numbers are positive, we must bear in mind that home prices are still down 29% from the peak of July 2007. The current Case-Shiller index reflects values similar to home values in the summer of 1999. The January index for Atlanta is 96.90. All 20 cities in the Case-Shiller Index showed positive year-over-year gains for Janaury. Detroit was the only city to show a deceleration and New York finally came into positive territory after 28 months of negative annual returns.


The Metro Atlanta real estate market continues to show signs of improvement for sellers. Listing inventory is down 38.7% from March of 2012 and down 57% from March of 2011. That represents around 3.4 months supply of inventory based upon the latest pending sales trend. Six months supply is considered normal. We have seen an extended period of low inventory since last year. Buyer activity remains strong led by baby boomers, first time buyers and investors. At the same time, the pace of pre-foreclosures (notices of default) and foreclosures has slowed. RealValuator reports that short sales and foreclosures were over 60% of the transactions sold in 2010 but are now down to 37% in 2013. Market sales (resales, new homes) are outpacing bank-owned sales. Your local PGR agent can show you the specific conditions in your market so you can make the best real estate decisions.


We have now seen a series of positive results from the Case-Shiller Index but the last few months show the trend slowing or leveling off. Over the next few months, we expect to see more positive results as we move toward the spring market. We are moving back to a more normal seasonal pattern where the spring and summer months are the heaviest selling months. View the graph of the monthly Case-Shiller results from 2010, 2011, 2012 and 2013:





If you look back further at home values (see chart below), you can see that we had a bubble in homes values. As with many cyclical markets, we have over-corrected with values that are below the normal trend line. Over time, we expect this pattern to normalize and values will return to this predictable track. That makes now a great time to buy or invest in real estate for Metro Atlanta – BUT don’t wait too long!





This chart shows the “months supply” based upon price ranges. As you can see, the supply is very low in the lower price ranges. Some of this is due to heavy investor activity under $200,000. As you get to the luxury market, there is more supply available based on the rate of sales. Contact your local PGR agent to see the latest trends in your specific area.





If you look at the average annual Case-Shiller index for each year, here is how homes purchased in recent years would compare to the current index:


Homes Bought in 2000 – Loss of 7.05%

Homes Bought in 2001 – Loss of 11.98%

Homes Bought in 2002 – Loss of 15.25%

Homes Bought in 2003 – Loss of 17.92%

Homes Bought in 2004 – Loss of 20.71%

Homes Bought in 2005 – Loss of 24.52%

Homes Bought in 2006 – Loss of 27.96%

Homes Bought in 2007 – Loss of 28.42%

Homes Bought in 2008 – Loss of 21.77%

Homes Bought in 2009 – Loss of 11.49%

Homes Bought in 2010 – Loss of 9.28%

Homes Bought in 2011 – Loss of 2.45%

Homes Bought in 2012 – Gain of 6.82%


Yes, we are slowly climbing our way out of this unprecedented housing crisis – but we are not quite there yet. So where will home values go from here? The key factors that will impact our home values include the following:


Demand from Buyers: SmartNumbers reports that we finished 2012 with over 75,000 homes sold – a 7% increase from 2011. We expect to see an 8-10% increase in units for 2013. We are moving back toward a more normal expectation of 80,000 to 85,000 homes sold per year.


Mortgage Rates/ Credit Availability: Average mortgage rates in the past 50 years were 8%. We expect to see historically low mortgage rates continue while the Fed is still purchasing $85 billion of bonds and mortgage-backed securities each month. But this stimulus to keep rates artificially low will not last forever as the Fed is already signaling they may start to slow down this program. Freddie Mac and the Mortgage Bankers Association predict mortgage rates to rise to over 4% in 2013. In 3-5 years, we expect to see rates in the 6-8% range again.


Supply/ Inventory Levels: Most of our markets are showing inventory levels down well over 30% from the prior year levels. We see investors very active under $200,000 which will continue to shrink that inventory. New homes will continue to grow but not fast enough to have a significant impact on inventory levels. As values begin to rise, we expect “sideline sellers” to get back into the market. Overall, the “for sale” inventory will remain low compared to normal levels.


Competition from Short Sales/ Foreclosures: In 201o, RealValuator reports that short sales and foreclosures were over 60% of the transactions sold but have dropped to 37% in 2013. We are now seeing resales and new homes outpace the sales of bank-owned properties.


It is clear that the housing market for the Greater Metro Atlanta area is improving. Right now, we still have low prices and incredible mortgage rates. You and your agent should be carefully watching the leading indicators. There are some great opportunities to buy or invest. But the low inventory may cause prices to start rising at an abnormally high rate. In 5 or 10 years, many will look back and regret not buying their dream home when they had the chance! Check back for our next posts with the latest facts and insight that can make you money!







Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at 678-513-2014 or email us at APrescott@PrudentialGeorgia.com.