What are the local experts thoughts on the Gainesville/Hall County housing market?

Asked by Viral Chhadua, Duluth, GA Wed Jun 19, 2013

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Kim Schmitt, Agent, Cumming, GA
Wed Jun 19, 2013
Crazy! If we had said a year ago that the market would be where it is today, people would have said we were certifiable. But the extreme shortage of Listing Inventory, engineered in part by the banks holding foreclosed homes off the market, slowing down on foreclosures, and bulk selling many of those homes they have foreclosed, and a surfeit of buyers, particularly in the first time buyer price ranges, has created a feeding frenzy on and listing which is well priced and in reasonable condition. Prices are way up on a year ago and still rising. Right now, if priced right and in decent shape a house will sell and often with multiple offers. Boom then Bust then Boom again is a hell of a way to run a real estate market, but that is the reality. Right now we are BOOMING, but my belief is that this could well be a "false" market and VERY susceptible to any future hiccup in the economy. Markets go down as well as up!
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