Market Conditions in Atlanta>Question Details

Don, Both Buyer and Seller in Atlanta, GA

ATLANTA PRICES

Asked by Don, Atlanta, GA Sun Mar 29, 2009

ARE PRICES STILL GOING DOWN OR ARE THEY LEVELING OFF?

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5
Don,

As Hank was saying it depends on Location, Location, Location!!

Overall I disagree with many of the other answers here. Prices are still going to tick down a few notches.

Reports that home sales are up are about a month old, but they are up! Even now I notice my business much more steady than it's been in a while.

All this being said I do see foreclosure prices getting lower and lots of inventory. This will effect the overall stabilization of prices and once our little spring fling is over by fall I think we will see another big slow down with even more inventory on the market. People are still losing jobs and the economy is not picking up just yet. It will take some time for all of this to settle out.

James Dudley
ERA Sunrise Realty
678-781-7418
1 vote Thank Flag Link Mon Mar 30, 2009
I depends in what area of Metro Atlanta you're looking. Quality homes accurately priced have to get in front of all the garbage on the market so that buyers can find them. The main issue right now is one of a diminished pool of buyers copupled with ridiculous inventory. While there are pockets of Atlanta and segments within those pockets holding and even showing slight increases, I don't know if we've hit bottom overall. I do think this will be a prolonged bottom, no clear point.

The outlying counties are going to be in a funk for a long time (Douglas, Cherokee, Hall, West Cobb, Paulding, East Gwinnet,,,), the closer in ones with good accessiblity, schools and conveniences are doing better (Roswell, East Cobb, South Alpharetta, Sandy Springs, Dunwoody) and the city has both ends of the spectrum as throwing money in many of the so called "revitalization" areas is a proven waste. The condo market is largely an epic trainwreck in Atlanta. While there are pockets, I hate to have to say this block is up while this block is off...that's not stable.

Bottom line is that it depends on area as well as price point.

Hank
1 vote Thank Flag Link Mon Mar 30, 2009
I tend to agree.

I think most sellers have reached their bottom and are refusing to lower the price any more.
Most are at the point where they would rather wait then reduce.

It feels like we are scraping the bottom right now.
If you see a good deal, go for it!
Don't be greedy and try and get blood from a turnip. It's greed that got us all in to this situation.
0 votes Thank Flag Link Sun Mar 29, 2009
Hi Don,

I agree with Scott. All of the trends seem to be showing a leveling off in resale pricing. Many lenders are working with homeowners to help keep them in their homes, so this is lessening the amount of new foreclosures coming on the market. Of course, all real estate is local and some neighborhoods are doing better / worse than others. I am able to give you specific statistics for any neighborhood in the metro Atlatnta area!

Jolie Abreu, Realtor®
Keller Williams Realty Consultants
(678) 894-4409
jolie@helpinghomes.net
http://www.helpinghomes.net
Web Reference: http://www.helpinghomes.net
0 votes Thank Flag Link Sun Mar 29, 2009
They appear to be leveling off in most areas. A few areas may go down a bit more because of foreclosures, and some markets have actually seen not only stabilization, but a slight rise in values.

If you want to give me some specific areas of interest, I'm happy to get back to you with data.

Scott Askew
President CRB CRS
Fourteen West, REALTORS & Askew Realty Co.
0 votes Thank Flag Link Sun Mar 29, 2009
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