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Buying beats renting, dollar for dollar in Intown Atlanta

October 28, 2011 By Leave a Comment
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Trulia.com's "rent versus buy index" is the best resource on the internet for answering a very generic question - should you rent, or should you buy in metropolitan Atlanta? For the past few months, Atlanta property, dollar for dollar, is better to buy than to rent - on average - across many counties. The BUY NOW versus RENT NOW numbers get even more dramatic for buying now when certain submarkets are studied. Here's two examples: 1. just about any close in condominium, loft or townhome 2. just about any house in a great Intown school district My friend Scott Mauldin sent me a 16 page document yesterday entitled "Housing: A Time To Buy" written by some of his folks at JP Morgan Asset Management - the overwhelming evidence supports buying in the best Intown Atlanta submarkets - is it time for you to make the move up? You can find the article within two clicks, here. … [Read more...]

Filed Under: Eastside, Fun Facts, General Information, Market Analysis, Northside, Southside, Westside

The secrets to finding a buyer in the Intown Atlanta real estate market

July 24, 2011 By Leave a Comment
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Many different features attract buyers to a real estate purchase, but the seller only has control over two of them. Sellers can still get the highest possible list-to-sell ratio and sell their homes as quickly as possible if they are willing to put their trust in two time trusted principles of real estate: condition and price. Since 72% of all sales transactions are “equity” transactions – not distressed, not some odd luxury transaction and not an estate sale, the chances are favorable for sellers who “get it.” Here are the the top ten features that attract buyers according to the Keller Williams Realty International survey conducted for our 2011 Market Navigator booklet. 1. Location – favored by 69% of buyers 2. Neighborhood – favored by 55% of buyers 2. Floor plan – favored by 37% of buyers 3. Updates to the house – favored by 36% of buyers 4. Curb appeal – favored by 30% of buyers 5. Square footage – favored by 28% of buyers 6. Back yard – favored … [Read more...]

Filed Under: Adair Park, Capitol View, Sylvan Hills, Bankhead, Brookhaven, Buckhead, Cabbagetown, Candler Park, Castleberry Hill, Chamblee, Collier Heights, Downtown Atlanta, Druid Hills and Emory Area, East Atlanta Village, East Lake, East Point, Eastside, Edgewood, Fort McPherson Area, Fun Facts, Grant Park, Greater Decatur, Home Park, Inman Park, Kirkwood, Lake Claire, Lakewood, Loring Heights, Market Analysis, Mechanicsville, Midtown, Northside, Oak Grove, Oakhurst, Oakland City, Old Fourth Ward, Ormewood Park, Peoplestown, Poncey Highland, Really Great Real Estate Marketing, Reynoldstown, Riverside and Bolton Area, Sandy Springs ITP, Sandy Springs OTP, South Dekalb, Southside, Southwest Atlanta, Summerhill, Underwood Hills, Vine City, Vinings, Virginia Highland, West End, Westside

Predicting Atlanta’s housing forecast

June 29, 2011 By Leave a Comment
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I have written about Housing Predictor and their uncanny accuracy since my first days of blog writing back in 2008. For the three years that I have followed the writing at Housing Predictor, they have been almost 100% accurate, and they have tracked closely with a statement that I heard from my business coach back in October 2007. He stated: “The median price for a metro Atlanta single family house will fall by 35-45% in the next 3-5 years.” I mentioned that to many other folks at the time, and most disagreed…it sounded unbelievable to most people just three years ago…looking back, through the use of this chart, I remember the lowest lows, and I remember the 2010 stimulated highs… Housing Predictor’s 2011 Georgia forecast is on track with his prediction and the writers believe that due to weak consumer confidence and unemployment, Atlanta’s median price will be down another 8.2% at the end of 2011. Do you have confidence that this is the best market … [Read more...]

Filed Under: Eastside, General Information, Market Analysis, Northside, Southside, Westside

The distinction and value of a lakefront lot

June 26, 2011 By Leave a Comment
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This is another story where the value of knowing Hank Miller comes in handy. I represent some folks who wanted to buy a house on a lakefront. More like a pond front, but we’ll call it a lakefront. Not Lake Altoona or Lanier – a small suburban lake. Well, the buyers didn’t think that the seller and the listing agent were realistic with their pricing. The property had about 100’ of lakefront. So, I talked to this listing agent and she encouraged me to consider the value of lake frontage - she lives on lake frontage - she's sold many lake fronts  - she told me that they always have to be “comped” against other lake lots and she told me that appraisers routinely will go outside of distinct zip code and school district level geographic parameters in order to make an accurate comparable for a lakefront property. She encouraged me to look at lake lots all over and to go back further than 6 months of sales - she states that appraisers will routinely adjust for the sales … [Read more...]

Filed Under: Buckhead, Eastside, Inman Park, Market Analysis, Northside, Southside, Westside

Mortgage rates are extra low and will not stay there forever

March 7, 2011 By Leave a Comment
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Mortgage rates hover in the 4.5 to 5.25% APR range nowadays for a 30 year fixed rate mortgage. At the Daily Reckoning website, their recent article entitled “Why you should buy a house” is loaded with practical, circumspect thinking about “why a house and why now?” The writer, Eric Fry states: “Undoubtedly, the housing market will continue to produce ample pain and suffering in the months ahead…along with ample anxiety in the years ahead. But it is possible, if not likely, that the pain and suffering will yield a highly satisfactory reward.” So, back in October, when I obtained a 4.0% APR Veteran’s Administration loan on a 30 year fixed rate mortgage, I knew that rates were extra low. From a healthy, historical perspective, they are still extra low, but by the end of this year, rates are forecast to be about 5.5-5.75% APR on a 30 day fixed rate amortization, and around 6.0% in 2012. Check out this “infographic” from the Mortgage Banker’s Association’s … [Read more...]

Filed Under: Eastside, Market Analysis, Northside, Southside, Westside

Housing is a buy, and buyers have the edge

February 15, 2011 By 1 Comment
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I just read a quote from Lawrence Yun, the chief economist for the National Association of  Realtors. “Distressed property sales accounted for 34% of all existing home sales in the fourth quarter. But NAR chief economist Lawrence Yun said the sales data is encouraging and points to signs of a recovery in the market.” Worth repeating here and asking you – do you believe that? The well written article goes on to give a rosier outlook for housing, and I know that I am seeing the same thing Intown. On any given street, that 66% number is pretty steady. Now, if I showed you the stats for Adair Street in Decatur vs. Adair Street in Lakewood, then you would realize that all real estate is hyperlocal. 66% is worth repeating – mass media reports 34% distress, The Intown Insider reports that 66% of all real estate transactions are stable, normal and counter-balanced win/wins… “Hyper-local”, or “hyperlocal?” Who cares? Today’s real estate market is being … [Read more...]

Filed Under: Eastside, General Information, Market Analysis, Northside, Southside, Westside Tagged With: , , , , ,
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