Home Buying in Morrow>Question Details

Alisa Smith…, Real Estate Pro in Atlanta, GA

Is now a good time to purchase a home?

Asked by Alisa Smith Heath, Atlanta, GA Fri Sep 30, 2011

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5
Solomon Greene’s answer
Alisa,

It's all relative IMHO. The Metro Atlanta Market certainly offers plenty of opportunity now for long-term wealth, peace-of-mind or other objectives important to a buyer. The buyer, however, must also assess whether this is a "good time" by determining if...

• There is a real desire to own (commitment to continued savings, the search, acquisition, proper care, etc.)
• Enough savings are available to make the purchase without depleting funds
• The right property that factors in family plans (i.e. new baby, elder care) is available in the right price range
• Income streams are healthy enough to consider a purchase at this time
• There is a likelihood of an employment relocation anytime within the next seven years
• An agreement can be reached among all involved regarding the right time to dispose of the property

As an agent, you probably already know the importance of these and other considerations, but many home buyers do not. That is why all of my first home owner clients are routinely advised of the various home buying classes that are available in Metro Atlanta so that they can be informed buyers.

Solomon Greene
REALTOR® / HUD-certified Affordable Housing Counselor - Keller Williams Realty Atlanta Partners
(678) 775-2677
0 votes Thank Flag Link Sat Oct 1, 2011
It can be. I'd guess you will see answers all across the board on this question. As with most anything, the "best" answer to this question depends on the specifics of your situation. In addition to being a real estate agent, I am also a financial planner, so I consult on a daily basis with clients about the financial aspects of buying (and selling) real estate (personal residence and investment property). From a financial perspective, it can make a great deal of sense to buy a home in this market. Interest rates are low, prices are still depressed and there can be some significant tax advantages with home ownership.
0 votes Thank Flag Link Fri Sep 30, 2011
For the majority of buyers, now is a great time. Most markets are near the bottom or have begun to rebound, all while rates are extremely low. With trouble brewing in the US government's financial situation, rates will probably not stay low very long. But, it all depends on the buyers situation.
0 votes Thank Flag Link Fri Sep 30, 2011
Now is a great time to buy a home. Rates are lower than we've ever seen. I highly recommend getting in contact with local broker and find out which areas are the most stable and will give you the best investment. Don't wait until bottom because you won't realize it was bottom until we are moving back up. We are seeing certain areas stabilize while others are still hurting. Buying in the stabilized areas, will give you the best return on your investment!
0 votes Thank Flag Link Fri Sep 30, 2011
Alisa the answer to that question could range anywhere from no to yes. There are so many factors that would figure in to the answer, that ultimately only the buyer can decide the best choice for them.

I say yes, definitely because prices now are between 1/3-1/2 of the home's previous market value or last sale price and interest rates are super low.
0 votes Thank Flag Link Fri Sep 30, 2011
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