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.
ERA Sunrise Realty
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.
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.
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, RealtorÂ®
Keller Williams Realty Consultants
If you want to give me some specific areas of interest, I'm happy to get back to you with data.
President CRB CRS
Fourteen West, REALTORS & Askew Realty Co.