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Intown Atlanta – 3 men to turn to in times of real estate trouble

I turn to John Adams. He is the most trusted voice in Atlanta real estate. This article about appreciation really crystallizes the paradox of pricing and pricing right – for the market of the moment. This article is loaded with “post-foreclosure” property purchasing insight. His website, his classes and his radio show are the proof – if you are nervous or uncertain about Intown Atlanta and Decatur real estate values and holdings right now, keeping abreast of John’s thoughts is worth your time. You’ll feel better about things.

I turn to Steve Palm. Steve’s insights about FMLS data every month keep me and my clients informed with raw, real data. His latest letter about metropolitan Atlanta real estate is based on cogent, detailed analysis of the real numbers.

Any real estate agent that you meet who spews BS about “up and coming areas” and who gives you advice on flipping properties needs to memorize this statement after you kick their ass:

Atlanta’s “…downturn started 3rd quarter 2006 and it has yet to turn positive since then. Not only has the market not turned positive, but we have yet to hit a bottom. We are in a recession and it will not turn positive till our economy starts
…When our housing market turns around, closing prices will rebound quickly. I believe that prices have neared a bottom, so this is a great time to buy. There is over a 14 month supply of homes out there, so your buyer will have much to choose from.Our months-supply of homes is at an all-time high, but there were actually 4,500 less homes for all single family on the market at the end of July versus the same time last year. The reason, our demand has been just so much lower.
There were 7,112 expired listings in July for all single family. This was 1,100 more than July 2007 and 6,300 more than 2000. There were 5,993 expired listings for single family detached and 1,119 expired listings for condos & townhomes.Days-on-market was 88.9 in July for all single family and the lowest reported DOM since August 2007, but still 3.7 days higher than July 2007. When the going gets tough, the tough get going. Anyone involved in residential real estate that makes it through this downturn will be positioned extremely well when the turnaround happens…”

I turn to Seth Godin. He says that in order to be trusted in a low trust world, you must tell authentic stories. Read Seth’s blog – here he is telling us about “What Advertising Can’t Fix.” 

Over the next few weeks, just remember that advertising will not fix what is wrong, especially if that advertising comes from a certain political party, a certain political candidate or a certain salesperson of any stripe who asks you to trust them.

They are on Main Street and on Wall Street.

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