Hey!
Did you hear the GREAT news?
It seems that overnight, more than 65,000 homes went under contract and are under Binding Agreements today! A potential 65,791 closings are scheduled to occur within the next 3 to 7 months. Although this is wonderful and certainly unprecedented news for the Atlanta real estate market, this development will lead to a new set of challenges in the local housing industry. Real Estate professionals in California, New York and other states are stunned by the news from Atlanta. With a significant lack of supply of homes available, builders will not be able to build homes or develop new neighborhoods fast enough to satisfy buyer demand which in turn will significantly increase the price of housing. Potential seller's who have been holding out putting there homes up for sale, pointed out, that the tide has now turned and Seller's will finally be able to charge whatever they want for their homes and accept only the highest and best offer presented. Think of it!
If you believe that scenario, better check your calendar! I have a few 10 foot square lots at the top of a rock in the mountains, I'd love to unload on you!
Seriously, the above analogy makes current market conditions seem like a piece of cake! In all truthfulness, most agents I talk to these days are very busy. Me included! I feel as though the market is picking up. My phone is ringing constantly. Statistics prove that people are buying homes in the Atlanta metro area. Right now in the Atlanta metro area there is a total of 64,823 homes on the market and showing up as Active listings on April 1st -- no kidding. Likewise, as I write this, there is a total of 9,888 homes that are currently Pending Sale. From January 1st through April 1st, a total of 7,920 homes have SOLD and closed in the Atlanta metro area.
It is a great time to buy a house. Interest rates are still hovering at records lows. Home prices in all price ranges are at record lows to ensure a speedy sale. Buyers still hold all the cards in this market. If you would like the specific statistics for your neighborhood, zip code, school district or street, please feel free to call me. I will be happy to answer all your questions and assist you throughout the process.
In the meantime, Happy April Fools Day! Don't get fooled again!
Sara Hibbard is a licensed Realtor in the state of Georgia and focuses on the north Atlanta metro area. Sara is available to answer your many questions regarding the Atlanta metro real estate market in general or specifics regarding the buying / selling process. Or, call Sara if you see a home or homes that interest you sufficiently to schedule a visit and tour. Sara is easily reached at 770-399-8108 or sara@sarahibbard.com or sara.hibbard@metrobrokers.com.
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