The Norton Agency has just published its first edition of Norton Real Estate Reality for 2010. Frank Norton Jr, the President of the North Agency, compiles his monthly outlook on the Norton Georgia real estate market.
Here are some quotes from the latest edition:
"Buyers perceive the market to be worse than reality. They want to feel if they do buy....THEY'VE GOT TO GET A DEAL."
"Buyers are being very selective in most markets, but the National Affordability Index indicates it's the most home you can buy in the last 10 years."
"Today the core of the housing market is made up of highly motivated sellers...There is an over riding reason to risk a sale in this market...Relocation, Family growth/contraction, financial, health... In other words motivated sellers dominate the market. In most micro markets motivated sales are occuring at 2003/2004 prices."
"Inventory is dropping like a rock, new homes 66% from peak, and the foreclosure rate has dropped. By year end 2010 we project stable and rising home values."
"6 month or older valuations are no longer relevant. It's what selling today...Last week, last month that are the only real comparables."
Barb and I pride ourselves in our local knowledge. Let us help you with your real estate needs in the North Atlanta Metro Area.
If you would like a complete copy of this report just send us an email.
Randy and Barb
The Wells Team
The Norton Agency
1 comment:
Buyers are choosing well where to invest their money. It's a difficult task in this crisis time.
For sure the foreclosures in Georgia have relation with this behavior
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