I just read an article written by Dian Hymer entitled “Is selling a home in today’s market worthwhile?” Dian is author of “House Hunting, the take along workbook for Home Buyers” and “Starting out, the Complete Home Buyers Guide.” Here’s a link to find Dian’s books on Amazon – she is a great real estate writer!
Dian said “Residential real estate is an intensely localized business.”
Knowing that, I’m even more confident this week about the health of the “intensely localized market” that The Rootdown Group serves. I’ll have some stats out later this month, but pending sales appear to be on the rise in Intown Atlanta and Decatur, we all know that primary mortgage interest rates are terrific, and The Rootdown Group is busy. Since January 1st, we have spoken directly with about 30 prospective people whom we know will buy or sell real estate this year, nearly half of them in the next 90 days. Greg Ruis, Dana Davis and I will help as many people as we can in 2008, and from initial apearances this should be a remarkable year for improving the long term health of the Intown Atlanta and Decatur real estate submarkets.
It may take longer for Adair Park and Mechanicsville to stabilize and start appreciating, but neighborhoods like Ansley Park, Chastain Park and Garden Hills, Virginia Highland and Oakhurst are in generally good shape, with prices rising slightly and lots of pretty houses for sale in good school districts.
2008 should even be a good year for “VH1 Celebrity Rehab” reality television participants, even Mr. Jeff Conaway. Yes, Jeff Conaway the actor who starred as Kenickie in Grease, and was in Taxi and Babylon 5. That dude is a wreck.
In 2008, that guy is in rehab and so is the residential real estate market. However, Britney Spears and the Miami condo market are in a class by themselves.
The blog link below is something that I found online this morning. Don’t just look at Miami being number one the list for the Worst 25 Housing Markets with the highest forecasted deflation.
Look at Atlanta – Atlanta is number 10. So what does that mean? Well, watch your neighborhood inventory, and watch interest rates. Anticipate demand spikes this year. Sellers can take advantage of built in demand that is brewing in Atlanta with smart pricing and a long term attitude.
Just know, metropolitan Atlanta Sellers in general may have a tough time – this scale, from Housing Predictor.com places Atlanta’s forecasted deflation at over 12%.
Remember, “win /win, or no deal.”