Atlanta Georgia Real Estate Market Still Causing Heartburn for Sellers
Atlanta Georgia real estate market still causing problems. Sellers of Atlanta Georgia homes are still experiencing heartburn as they wait for an offer to come in on their home for sale. The sporadic market rewards a lucky few home sellers and leaves the remainder frustrated and puzzled as to why their home is not selling.
The AJC keeps reporting sales are up and home prices are on the increase. Just a simple case of statistics being misapplied in my honest opinion.
What I am seeing on the ground:
1. Home values are down. Not so much inside the perimeter but much more of a factor outside the perimeter.
2. The “good news” regarding increased home sales this spring had more to do with the expiration of the Federal tax credit on April 30 and less to do with the Atlanta home market really picking up.
3. The increase in price of the median value of home sales was not representative of an increase in value of all homes. This was more a factor of who was able to take advantage of the Federal Tax credit. Lower end buyers still suffering from credit and financial problems were not buying this spring.
4. Trying to sell a million dollar home? You are really walking on thin ice statistically….just not that many sales in Atlanta this spring. And oh yeah, lots of inventory to choose from.
5. Need to sell a home right now? Be prepared to adjust the price downward to reflect present market conditions. Buyers need some motivation to get off the fence in this market.
CALL SALLY ENGLISH AND THE ENGLISH TEAM for specific market advice about your home and neighborhood. 770-939-3174. We can pull real time comps and let you know what the true market value of your home is in today’s volatile real estate market.