I chuckled today as I passed a new townhome community with homes available for sale. There were streamers, banners, balloons, and a large sign that read, "Monster Sale!" with a cartoon-ish green monster. It's tough to sell homes right now. I think homesellers are trying everything in desperation. People are still buying homes though. We are down a little bit this year, but we have completed 17 transactions. Normally I'd be a little concerned about that considering we did 23 last year, but I'm pleased considering the buzz on the street, which is enough to make anybody in the market downtrodden. The fact of the matter is that there is so much inventory out there for potential buyers that there's a "Monster Sale!" every day.
What is a "Monster Sale!"? I might suggest that if you buy a home at today's market value in this down market, you're getting a "Monster!" deal. You don't have to get a home at 80% of list price for it to be a "Monster!" deal. Most homesellers with guidance from a professional Realtor will price their home to reflect the market. The market WILL turnaround in Atlanta, and home prices WILL go up. I don't think I'm going out on a limb there. We are incredibly blessed here in the metro area with a diverse economy, a desirable business climate with better than average job prospects, and the world's busiest airport. We are in the middle of a "blip" on the radar. I honestly believe we will look back at these home prices, these sub 6% interest rates, this uneasiness in the wake of a new election asking ourselves,"Why in the heck didn't I just buy that investment property?" Or, how about, "Why in the world didn't I move up and grab that depressed valued home in the neighborhood I've always wanted to move into?" As I've mentioned before, we don't know when we've reached the bottom until it starts to go back up. However, we do know it'll go back up. "Monster Deals!" are everywhere. You don't have to look to far or too deep. They are in every neighborhood and in every part of town.
Use common sense. Buy low and hold. Sell high and roll!
-Andy
Hi and welcome to Active Rain, a great site to network, share, learn and have fun. Good Luck....
Welcome to Active Rain! This is a great website for building your business, as well as learning from others. Pat yourself on the back, because you made a GREAT choice in joining the blogosphere!
Write often, and write whatever comes to mind. Blogs about personal topics and non-real estate items are often the best. It helps your readers to bond with you, and ends up bringing you a lot of business!
Good luck with your future blogging. If you'd like more info on points in Active Rain, I wrote a blog about it (click here). Feel free to ask me any questions if you need a hand!
I see that you are new to Active Rain and I just wanted to welcome you. I hope that you enjoy it as much as I do and that you find it a great resource.