Currently, is Atlanta still considered a buyer’s market, or has that sentiment changed? A question that we are commonly asked as experts in the Atlanta real estate market is “How much money do you have?”
The answer is not as simple as “yes” or “no.” It is more complicated.
The following is the current situation of the buyer’s market in Atlanta, Georgia, as of today:
Most importantly, it is largely reliant on the kind of property and the location of the property.
Since the beginning of the year, single-family homes in attractive areas at reasonable prices have been flying off the shelves. Depending on the market, some places are in great demand, while others might seem to be ghost towns to those who are not familiar with the area.
Many of the same features are sought after by buyers, including beautiful neighborhoods, easy access to transit and shopping, outstanding schools, and a handy location close to their place of work, among other things. All of these features combine to make the assets that they give a desirable commodity to the market. Sellers that have a property that is in great demand have a competitive advantage in the market place.
Condos and townhouses, especially those that are located a bit off the beaten path or that have some distinguishing characteristics, might find themselves in the opposite position of the above scenario. Price declines were seen in certain sections of Atlanta, but they look to be on their way back up as the rental market in other parts of the city increases.
There is a huge demand for real estate as an investment. Massive inflows of foreign wealth into the United States, mostly for the purpose of investing in real estate, have had a substantial influence on the Roswell market in a number of different ways.
In general, people who are in a position to pay cash for real estate have been able to take advantage of the incredible bargains that have been made available in recent months.
Many sellers are trying to sell at speculative prices in order to test if anybody would purchase, but the great majority of investors are turning away from transactions that do not make financial sense for their investment portfolios, according to the National Association of Realtors.
Even with the current low interest rates, purchasers face a substantial financial barrier. Banks are becoming particularly strict, requesting enormous amounts of money as a down payment and even amending their conditions at the last minute to accommodate borrowers. According to the National Association of Realtors, qualifying buyers may also have their loans terminated just before closing escrow in other instances, but this is less common today than it was two or three years ago.
General market activity continues to be exceedingly fragmented, with significant activity concentrated at the extreme top and extreme bottom of markets, with the most severe challenges arising in the midst of these distributions.
Is that what you’re saying? Yes, it is correct. We, on the other hand, are here to help you.
Despite the fact that the US economy is still going through a significant amount of restructuring, the markets are moving swiftly in a number of directions at the same time.
The rationale for our investment in Atlanta is because we have faith in the community and the people that reside there..
If you are wanting to sell a home in the Atlanta area, we can help you. Contact us now.
We acquire homes like yours from people who need to sell fast and are working with a limited financial budget.