Home Prices in Atlanta continue to slide in 2011. Now of course real estate is all location, and sme areas are holding up well. Overall however the double digit unemployment and drasticlly tighter mortgage environment are making it a tough go for real estate.
We will begin to share more numbers with you soon but for now take a look at this chat of Standard & Poors Case-Shiller Index. This is the be data available to get the general pulse of the market. For specific properties and neighborhoods you need to find a great agent. If you need a referral we’re glad to provide some names.
Case-Shiller Home Price Index
Foreclosures and short sales continue to make up the majority of the market and the rumors at some local office see a wave of increased supply (foreclosures) hitting our ‘inventory’ for the new year.
Hang on to your hats Atlanta. This market sucks and the light at the end of the tunnel is likely a locomotive.
Our advice is to find a relative and move in with them Your kids or parents gotta take you, right?
The silver lining of the market is for those few of you that have still got a good income and cash assets. Housing deals for sellers suck raw eggs but you have a chance to scoop up housing for huge discounts. Even sheltered IRA funds can be used for real estate investment.
Rentals are in huge demand once again and rents are rising in the best properties. The key here is to buy and hold. Some properties in decent areas are selling under 50k and rents average about $800 month. It is easier than ever to develop a positive cash flow in rental property.
Tick Tock.
Tags:Atlanta Real Estate,Home Prices
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