WHAT’S GOING TO INFLUENCE OUR NORTH GEORGIA REAL ESTATE MARKET? From Your Friends at Northwest Atlanta Properties Housing Industry “Experts” analyze the market data to forecast what’s to come. We’ve rounded up a few of the most important predictions for you to consider, but before we get to it, let’s talk about the last 7 months. Median home prices peaked in June and declined steadily through January 31st. The year ended with the median price for a home in Northwest Atlanta. This set … [Read more...]
Real Estate Stats & Thoughts
Real Estate Stats & Thoughts from Your Friends in Real Estate I’m Just back from a Four-day Georgia Association of Realtors Leadership Conference (I’m the president of my Board in Cherokee County next year) and here’s what I heard in the economic update session. Mark Vitner was an economist, and he specializes in the Southeast. He says our area is already off 4% to 7% from the peak (June of 2022) and that we should expect another decline though the end of 2023 to mid 2024 of … [Read more...]
Real Estate Stats and Thoughts From Your Friends at Northwest Atlanta Properties
Our primary areas of service are below. The rise in interest rates has hit Northwest Atlanta Hard in terms of numbers of sales with our total number of sales down 39.6% ! Prices are holding up well (although the year over year increase has declined from a 24%+ growth to about 7%.) The days of multiple offers and bidding wars are largely behind us as homes are selling for 97.9% of their asking price compared to 101.8% a year ago. On the flip side, many equity-rich homeowners who bought or … [Read more...]
If you are thinking of selling your investment property anytime in the next 1 to 5 years…
You should consider selling now. Our market has seen price increases for 11 straight years and many economic experts are saying we’re headed for a market correction. The unprecedented rise in interest rates has significantly reduced demand for homes. Recent headlines show Zillow lost over $50 million in the 3rd Quarter which looks relatively good compared to the Open Door loss of $928 million. The CEO of Redfin (which has an iBuying arm) says “When the shiitake mushrooms hit the … [Read more...]
The Wood Wide Web
The Wood Wide Web Donna and I just celebrated our 30th Wedding Anniversary in Canmore And Vancouver Island in Canada. As we took a boat cruise on Lake Minnewanka we saw a grove of trees and were told the whole grove covering acres and what looked like 1000 trees was actually just one tree. We stood several times among gorgeous trees, listening to their leaves rustle in the wind, and imagined quietly that they were communicating in some way. Perhaps in whispers, or hushed … [Read more...]
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