Where are the real estate post holiday sales?
Where are the real estate post holiday sales?
Check out these actual headlines from my email inbox this week:
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EXTRA 35% OFF & FREE SHIPPING + EXTRA 20-30% OFF End-of-Year Blowout! – Sierra Trading Post
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Wow—take 40% off (including sale styles). – Banana Republic
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Hurry! Take an extra 30% off, today only: storage, books, furniture, artisanal accents & more – One Kings Lane
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Holiday Offer: Enjoy 20% Off Your Purchase – Elie Tahari
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Free Shipping Every Day + Up to 60% Off During Our Winter Sale – L.L. Bean
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Hurry! Great Specials end tonight + get extra 15% off – Macys
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40% Off the Perfect Dress for New Year’s Eve – Loehmanns
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Celebrate Your Holiday with Style…Plus, $25 Off! – Chicos
It looks as if retail stores are almost giving away their inventory. Post holiday shoppers can expect big discounts as stores and shops look to move inventory that did not sale prior to Christmas.
No sales, steals and deals in the home buying market
Atlanta home buyers are not going to see a lot of sales, steals and deals in 2014. In fact, they should brace themselves for a bit of inflation in house prices as the effects of low inventory are felt in the market places.
Foreclosures, distress sales and short sales have largely worked through the system in neighborhoods surrounding CDC and Emory University in Northeast Atlanta. Yes, we will continue to see a couple of properties come on the market that are short sales or foreclosures. But don’t expect the pricing to be the former barn burning, door busting, giveaway prices we saw in 2011 and 2012. 2013 was a leveling out year for real estate values in the Northeast Atlanta market. 2014 looks to be a market where real estate values start to rise.
I am starting to hear from sellers who have been renting properties until the market started to improve. I have also spoken to a lot of sellers who are thinking about selling their existing home and buying something bigger. These sellers are starting to “smell” the potential sellers market we will experience in 2014.
Buyers – don’t waste your time making lowball offers on houses placed on the market in 2014. Sellers have lots of opportunities to sell their homes and your offer will probably not even warrant a counter offer.
Adding fuel to the fire will be rising mortgage interest rates. Buyers who hesitate will be forced to pay a larger monthly payment for the same house just because they sat on the sidelines and watched mortgage rates steadily rise.
Are you ready to buy or sell an Atlanta GA home, call me direct and 404-229-2995 and we can get the process started.
[Sally English is an Atlanta Georgia real estate Broker specializing in neighborhoods and homes convenient to Emory University and CDC.]