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Before you buy a house in the shifty metropolitan Atlanta real estate market…

Before you buy a house in the shifty metropolitan Atlanta real estate market, consider some of the insights that a few of us recently shared on Trulia Voices. First, let me state – this is the golden age of real estate. Has been for about three years straight. There has not been a better period in recent history that has displayed more pronounced value and affordability, on a macroeconomic scale, than the period that we are in right now. And before you make a decision to buy a house in the shifty metro ATL real estate market consider the following insights from David Crook at the Wall Street Journal. His article on Friday is the best that I’ve seen recently for summarizing where we are right now as a nation, regarding residential real estate. David’s article is entitled: “What You Need to Know Before Buying a House…Yes, the market is looking up. But don't let the euphoria obscure the flashing yellow lights” So before you buy a house in the shifty Atlanta market, think … [Read more...]

Intown Atlanta buyers – rates are going up

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The $187 Billion rescue of Freddie Mac and Fannie Mae. Saved the North American real estate market. Kept rates from going up. Intown Atlanta buyers got bargains through 2012. And Freddie reported a $5B gain last quarter… Now the time has come to dismantle these quasi-governmental gargantuans. And rates are going to go up. And, Intown Atlanta buyers will feel the pinch. So reports the AP last week. Just sabre rattling before the chopping block, I think. I expect the chopping to happen on Obama’s lame duck watch circa the winter of 2015. And once sufficiently rebooted in a few years, there will be a direct effect on the purchasing power of Intown Atlanta buyers. When rates go up, Intown Atlanta buyers will lose some of their current stretchability. And, when rates go up on Intown Atlanta buyers, some Intown Atlanta sellers will inevitably have a “shoulda woulda coulda” moment – they will recall the heady days of Spring 2013 – the fastest market ever in … [Read more...]

South of Wright – Wall Street Journal house of the day!

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I promise – coming tomorrow, a look at the exterior of The Copeland House, in more detail. To start the week however, I want the Intown Insider to promote some recent media placements for the new listing. Atlanta Curbed featured it last week – love them! And yesterday, the Wall Street Journal featured the house as “house of the day!” Pretty cool – that’s a first for me and a first for my local brokerage. Thanks to Jason Wieloch for making that connection through KW Luxury. Onward and upward – three showings in 8 days on market. … [Read more...]

Housing is a buy, and buyers have the edge

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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...]

Does it make sense to buy an Intown Atlanta or Decatur property now?

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Are you a first time buyer? Are you moving up? Do you lack confidence in your current investment holdings? Do you long for a second property outside of Intown Atlanta or Decatur? Maybe a property with a lake, a mountain or a beach setting? Do you have some cash holdings reserved for a 5-20% downpayment on a mortgage? Do you have a 620 credit score or better, and do you have the income qualifications to successfully apply for HUD-backed, FHA, VA and other governmental, quasi-governmental and locally funded grant and loan programs? In the next twenty years, get used to most of that going away…but until then, get it while the getting is good… The mainstream media, in the wake of a raging three plus years of residential real estate malaise and torpor, in the slog of government intervention or lack of it, in the face of continuing strategic defaults and ongoing “quantitative easing,” is beginning a recent positive spin cycle on how buyers should seize … [Read more...]

The second leg down, is looking up, for the move up into Intown Atlanta’s residential neighborhoods

This post first appeared on my Intown Atlanta Real Estate Examiner page... John Mauldin is the most interesting and circumspect  financial writer that I read. I've written about his opinions and his free weekly newsletters before. This week's Outside The Box is on point, and right on the money for today's buyers and sellers. Yes, all real estate is local. But, when I wrote about the Lakewood to Buckhead Butterfly Effect before, I meant it... John offers "financial intelligence for the informed investor" for free. Here's a few pieces of "A Closer Look at the Second Leg Down in Housing..." "In my analysis, price stands out as being the prime mover of the next leg down. "Home prices remain too high." "One of the things that Markets are best at is price discovery - the determination of a price for a specific item through basic supply and demand factors. Without the heavy hand of the government intervening, the residential real estate market is about to experience what … [Read more...]