Real Esate Blog

CURRENT STATE OF THE REAL ESTATE MARKET IN GA, DEC 08
December 17th, 2008 12:10 AM
Well, here we are almost to Christmas. Where does the home market in GA stand right now? Sadly, not much, if any better than the last time I reviewed the situation. Home prices continue to fall, at least at a slower rate. Foreclosures continue to increase, at least at a slower rate. Sales are slow and right now is historically the slowest time of the year for home sales (Nov, Dec, Jan). With unemployment increasing, I do not see an y bright future, in fact it probably will increase the number of foreclosure over the next year. Until we can get a handle on these foreclosures we cannot see any increase in prices. And that looks to be at least a year or more in the future. Stay put and hold on, we will get through this and home prices will stabilize and finally start back up. Patience is all we have right now. On the other hand, this is a really great time for home buyers and rental investors. Prices are low, interest rates are at a 4 year low and may go even lower. There are many "previous" homeowners who are now forced to rent so the rental market is fine. Just a matter of which side of the fence you are on.

Posted by Phil Turner on December 17th, 2008 12:10 AMPost a Comment (0)

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