Also sometimes stated as “Foreclosures are coming… so I’ll get a deal if I wait.” My answer is “No – buy now!” Why? Because demand is still so strong for investment homes and the months-of-remaining inventory still firmly shows we are in a Sellers’ Market. Our investors like to buy in three counties. All three: Cobb, Cherokee, and Bartow have a lack of inventory. The have 1.7, 2.2, and 2.0 months of remaining inventory (MRI) for homes priced under $400,000. This means that even with the … [Read more...]
A Good Real Estate Agent Adds Value!
Or Realtors Charge Less than big tech and sell homes for more money Over the last few years the traditional real estate industry has been under attack from dozens of Tech companies sure they can “add value” by cutting out the real estate agent or at least by cutting out a portion of the commission. Zillow failed and stopped buying homes. The behemoth lost approximately $25,000 on each home sold. OpenDoor was just fined $62,000,000 for false and misleading advertising by the FTC; basically … [Read more...]
What to look for in the coming market!
We’re seeing a market shift right this summer. The rise in interest rates and the continuing rise in home prices has made it significantly less affordable to buy a home. The economist who predicted the housing crash in 2008 thinks we are now “halfway through the fall.” The number of sales is predicted to fall and the rate of home price appreciation is slowing. If you’re a buyer don’t hold your breath for prices to drop as the laws of supply and demand will cause prices to rise. This … [Read more...]
Welcome to the New Normal and What’s Next?
A recent survey of over 100 market experts and economists still predict home prices to rise for the next 4 years. Even the most pessimistic are saying prices will rise over the next 4.5 years by almost 10% A recession is not necessarily bad news for home prices at 4 of the last 6 recessions saw price increases. And the fifth saw a nominal decrease. Many are comparing this coming recession to the ones in 1980 and 1981 in which we see the number of sales decrease dramatically but … [Read more...]
THE Northwest Atlanta Real Estate Market is Changing
With the dramatic rise in mortgage interest rates this year from 3% to above 5% and the continued price increases for homes being purchased it now costs almost 50% more to own an “average” home this year than last. Add this to 121 consecutive months year over year increases. Many investor owners are asking what next? The potential shift in the market was a hot topic on conversation at the National Association of Realtors (NAR) Mid-Year Legislative meeting that I had the honor of attending … [Read more...]
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