Aaron Hofmann

Buy...rent....rent....buy???

There is certainly a lot of uncertainty out there, which also creates great buying opportunities.

My assumption is that you're currently in corporate housing until your home sells or your company buys it out. Use this time to investigate the buying opportunities. There are some great deals out there and Investing 101 would always tell you to buy low and sell high. Whenever the press becomes oppressively negative, that's when it's time to buy. Combine that with great interest rates making it a perfect time to buy.

Now there are lots of factors to consider when purchasing a home and it's important to take a step back and try to assess it rationally and logically. Buying a home can often be an emotional process, but in this kind of market you want to make sure you have an impartial assessment of the situation. You're really in a win-win situation right now in that if you can find the perfect home, then move on it. But if you're uncomfortable with what you're seeing or the current environment, then simply hold off.

In terms of price off list, that is a difficult question as it just isn't that simple. This has become a popular question on many discussion boards and the issue is that it is taking a complex transaction and setting a very simple arbitrary rule.

For example, take House A and House B, both in the same neighborhood and completely identical. House A is listed at $500,000 and House B is listed at $550,000. Now if you simply used an arbitrary rule of 10% off list, what have you accomplished. Obviously House A was more aggressively priced out of the gate. This is obviuosly a very simplistic example and you'll probably never find two identical homes for sale, it becomes much more complicated comparing size, upgrades, lot, quality, etc.

Now more than ever, it's imperative to work with an experienced Realtor who really knows the market that you're interested in. They will be able to identify the best homes meeting your needs/wishes and identify which homes are the best values.

Hope that helps. - Mon Oct 6 2008, 19:41

Absolutely. Chartmaster Chuck provides us with some amazing analysis of the market. It definitely allows us to have an in-depth understanding of what is happening in the market place that you just can't get elsewhere. Just another great benefit of Keller Williams. - Sun Oct 5 2008, 16:38

Steve,

We track the stats for 36 MLS segments within metro Atlanta, which includes the core metro counties including Fulton, Dekalb, Cobb, Gwinnett, Forsyth, Cherokee, Douglas and Paulding counties. These stats are full year 2007 and thru Q2 2008. We'll have updated Q3 stats shortly.

Single Family Homes 2007: 43,273
Single Family Homes 2008: 17,163
Condos/Townhomes 2007: 9,945
Condos/Townhomes 2008: 3,619 - Fri Oct 3 2008, 17:01

Racquel,

Schools are always a hot topic here in Atlanta. There are certain pockets known for having good schools and plenty of areas with schools that are not so great. Typically, you'll want to start out by finding the best school districts close to where you'll work. As an example, Alpharetta offers really good schools, but if you're going to be working Downtown, it's really not a lifestyle most people would want to deal with.

We spend a lot of time educating buyers on school options, both public and private. Go to http://www.h2realty.com/schools.html to see schools ranked at the elementary, middle and high school levels as well as combined rankings for the various feeder patterns. It's a great feature as you'll find many good elementary schools may not feed to a great middle school, but using the total feeder pattern rankings provide a great overview to use for the basis of your home search.

Hope that helps. - Fri Oct 3 2008, 17:14

Mitch,

There are plenty of deals out there right now, but the market right now is more attuned for the buy and lease vs the flip market. There's clearly an over-supply of homes or an under-supply of buyers, depending on whether you're a "glass is half-full" or "half-empty" kind of guy.

You just need to determine which areas you want to focus on and find agents that specialize in these areas. Too many agents will tell you they're foreclosure experts and can get you deals all over Atlanta. That doesn't really work.

Find the agents that focus on a tight geo area and they will not only be able to tell you what deals are available right now, but understand their market well enough to know when a home hits the market wheter it's a deal that won't last or one to pass on. - Fri Oct 3 2008, 16:44

Vika,

It really comes down to your motivation no matter what the market is like. I think a lot of replies have related to the current market and certainly if you are a move-up buyer, it's a great time. Even if you can't sell your condo for as much as you thought you could a couple years ago, you're going to see similar savings when you buy your new home.

With that aside, the other concern a lot of sellers have about re-listing at this time of the year is the cyclical nature of real estate and the fact that sales typically start to slow down through the end of the year, in particular between Thanksgiving and New Year's Eve. People have a lot on their plate this time of the year and it results in fewer active homebuyers. So you may think that means don't re-list right now. But wait a second. The one advantage is that while traffic is usually down, the buyers actually looking during that time are very serious buyers.

These are just a couple scenarios to consider, but what it really comes down to is your motivation. Do you just want a bigger place or are you moving out of town? - Fri Oct 3 2008, 16:34