Atlanta Area Home Prices

Money Magazine Checklist for Best Place to Live

Monday, July 20th, 2009 at 2:46pm. 334 Views, 0 Comments.

Money Magazine recently published an article in its August 2009 issue entitled How to Find Your Best Place. Even in tough economic times homes in certain areas seem to hold their value much better than others and experts have concluded these areas tend to have 5 things in common. 

At a time when every factor counts in a real estate transaction, buyers and sellers alike…

Greystone at Vinings - Foreclosure Deal of the Year?

Thursday, July 16th, 2009 at 11:40am. 2756 Views, 0 Comments.

The current real estate market has yielded some amazing deals for my buyers at steep discounts to former prices. However, one of the most astonishing drops in value that I have seen is in a luxury condo building in Vinings called the Greystone at Vinings. This building is only a few years old, features a beautiful clubhouse, concierge, pool, wine cellar, and gym. The building is five stories tall with 59 large condos targeting a high-end buyer who needs plenty of space and a great location. It's competing development would be the luxury condos at One Vinings. The majority of the condos in the Greystone sold in 2007 at average pricing around $1.3 million......now you can get one of those same condos for between $200-$300k! Now, I am skeptical that…

Atlanta Market Trends Reversing

Wednesday, June 17th, 2009 at 1:34pm. 354 Views, 0 Comments.

A man named Andrew Lang once said: "He uses statistics as a drunken man uses lampposts -- for support rather than for illumination." Although it is true that statistics can be misread or manipulated, they are also extremely helpful in determining market trends in the Atlanta real estate market. I study these numbers constantly so that I can better assist and advise my clients. Our market is changing and below is a summary of recent price trends for single-family homes in Fulton, Cobb, Dekalb, and Cherokee counties. This chart shows statistics for homes sold from May of this year. It shows that nearly 1800 homes sold for an average price of nearly $234,951.

49 Percent Discount on Atlanta Homes

Monday, May 4th, 2009 at 2:47pm. 355 Views, 0 Comments.

So we’ve all heard it’s a buyer’s market right now. But what does that mean and why do we care? The short answer is it means houses are selling at significant discounts and the reason you and I should care is that it might be decades before we see these kinds of prices and interest rates again.

Don’t just take my word for it though. Take a look at the numbers and let them speak for themselves. According to US Government statistics, the state of Georgia saw an average annual appreciation of 8.7% for single family homes from 1980-2006. In other words, you could buy an average $100,000 home one year and sell it the next for $108,700 (statistically speaking).

Sounds like a pretty good deal to be a seller. Well the last three years have told a different…

Atlanta Home Price Forecast

Thursday, April 2nd, 2009 at 7:24am. 443 Views, 2 Comments.

Money Magazine recently came out with a study predicting what home prices in Atlanta will do over the next year or so....

Apparently they think that average home prices in the Atlanta area will drop another 2.4% over the next year, and that they will bottom out and begin to rise in the first quarter of next year.

What does this mean to you if you want to buy a home? I really would not let the "Average" home prices in Atlanta affect when I buy, but it does indicate that between now and the end of the year will be the "Sweet Spot"....the time when everyone looks back years from now and wishes they had....

If the price of a home that you want to purchase did drop by 2%, but interest rates rose from 4.75% to 6% (likely to happen) then you would have made a…