Statistics are now showing that both the real estate and stock markets appear to have hit bottom.  This is indicated by two months of upticks in indicators after many months of down-ticks in both arenas.  This is great news for Atlanta real estate buyers and sellers.  Interest rates are at all time lows making purchase power very strong.  

For Seller, inventories have dropped, so competition has lessened.  Your buyers are now able to purchase more home at a lower cost.  The market season now in spring is headed into the best time to be out there for buyers.  In short, there has never been a better time to have a PRIME agent list your home.  Contact a specialist today to get out there at just the right time.  Now that tax season is over and we are entering the ’school’s out’ summer selling season, more buyers will be out looking to make that move.  Selling your home while inventories are low makes sure that your home has the best opportunity to be seen and purchased. 

For buyers, interest rates are low and prices are competitive.  The Atlanta real estate market was never over valued like so much of the country and represents an excellent opportunity for home ownership and wealth building.  Atlanta is unique in have a fantastic cost of living factor, incredible economic base and continual economic growth and leadership.  With its central hub nature and low cost of living, Atlanta is a very attractive city for new industry.  Buying in Atlanta today could be like buying in New York in the 80s.  The opportunity for growth is uncharted.

Buying or selling today in Atlanta is a win win.  Contact your top real estate professionals at PRIME REAL ESTATE in Midtown Atlanta.  (404) 685-3774, www.atlprime.com.  

Today, April 27th, 2008 is the last day to see the nearly 700 homes up for auction in Atlanta.  The auction will be on May 4, 5 & 6th at The Georgia World Congress Center.   You can pick up information on the properties at the PRIME REAL ESTATE office located in Ponce Spring Lofts at 620 Glen Iris Drive, Suite 102, Atlanta, GA 30308.  Or contact a PRIME REAL ESTATE sales specialist to get the information.

These homes muse sell and many start bids at only $1000.  The Prime team also has many resale homes ready for move in.  Contact any of the Prime specialists for the perfect property in Atlanta and beyond.  Also, keep a look out for our developer projects in Darien, Coastal Georgia, Buckhead and Sandy Springs.  There are a lot of great deals out there and now is the time to buy.  All market indicators tell us the housing market has hit the bottom and the time to buy is today.  Interest rates have never been better, nor have prices.  Get your PRIME REAL ESTATE today!

Call any PRIME agent for information on Auction properties in Atlanta.  These are foreclosures from Countrywide, Bank of New York, Bear Stearns and more.  Call or stop by.  620 Glen Iris Drive, Suite 102, Atlanta, GA 30308, (404) 685-3774, www.atlprime.com.

In an article dated March 6, 2008 | Daily Real Estate News:

NAR: HOME SALES TO HOLD STEADY

There are some great signs of an improving housing market.  according to the article:

“Lawrence Yun, NAR chief economist, says many buyers have been waiting for higher mortgage loan limits.

‘The higher loan limits for both FHA and conventional loans will increase consumer choice and provide greater access to lower interest rates in high-cost regions’, he says. ‘Therefore, a notable rise in home sales can be anticipated in the second half of the year.”

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in January, held at a stable level of 85.9, unchanged from December, but was 19.6 below the January 2007 reading of 106.8.

‘This additional sign of a stabilizing market is encouraging, and our members are telling us there’s been a pick up in shopping activity,’ Yun says. ‘ Our hope is that the increased traffic of buyers looking at homes will translate soon into more contract offers’…..(end of article)”

This is very good news for us here in the Midtown, Buckhead and general Atlanta market as we have seen a fairly stable market in comparison with the rest of the country.  For buyers, there has never been a better time to buy, and for sellers, tensions ease and it is a good time to have your home on the market again.

I recently read a great article in TIME MAGAZINE dated February 25, 2008. The title is “Ignore the Headlines” - ‘Except this one. Sure, housing’s in a hole. But there’s a potent case for buying now, whether it’s real estate or stocks’

The article discusses how buying now at todays incredible interest rates is equal to or better than if prices drop further over the next twelve months and rates creep up even just a small half percent. Interest rates are at an all time low and buyer’s should take advantage of it as their long term cost of ownership will be much lower and their payment will be the same. The article outlines two scenarios:

Buying Today at a price or $218,900 with a 5.5% interest rate will make your payment $994.31.

Buying in twelve months at a 10% price decrease (typical of the national average - Atlanta has not seen the same loss in value. In fact Average home prices in Atlanta rose 0.8% over the last year (according to NAR) This would make your purchase price $197,010 at 6% interest rate and a payment of $994.94.

BUY TODAY FOR $994.31 OR BUY IN TWELVE MONTHS FOR $994.94. In the long range you will come out much better by buying today and not wasting thousands of dollars on rent or other expenses that you will never recoup. Don’t forget the tax advantages or the built in savings of equity in your new home. If you plan to hold for more than three years NOW IS THE TIME TO BUY!

Call the specialists at PRIME REAL ESTATE to get your free, no obligation consultation! (404) 685-3774.