If you’re a current homeowner in Atlanta thinking of selling your home, you’re in luck as existing home sales have risen to 4.2% since 2009. The future of real estate has been proven to be profitable with these promising numbers, as residential homes have risen in terms of investment. This is an incredible opportunity for those buying a home as well! Your dream home awaits you in the Greater Atlanta Area with spectacular city views and spacious living for you and your family.
Home prices have risen up to 15.4% in the past year, which is great for the economy and those who are looking to sell. As of May 2013, the national median for existing home prices is at a staggering $208,000. Metro Atlanta has seen a significant rise in home prices and they are now at their highest in 7 years. The sudden rise is as a result of fewer people selling their home and more waiting for the best time to increase their return on investment.
Compared to previous years, real estate numbers have undeniably risen and realtors across Atlanta are confident that existing and future homebuyers will benefit from these figures. Part of the reason behind home prices rising is the limited supply of foreclosures. The lack of competition has given sellers the ability to raise the price of their homes. The rise in home prices also gives current homeowners who are looking to reduce their debt a good opportunity to sell. It also boosts the economy by increasing the construction of homes and kick starting employment rates.
For the house hunters looking for a deal, now is your chance to buy a foreclosure or home at an affordable price as they have decreased from 25% originally to 18% in May. From a realtor’s perspective, purchasing a foreclosure is a great investment opportunity at a fraction of the cost. It is a win-win situation as the bank avoids the costs of having to foreclose, the owner avoids foreclosure on their record and you get a bargain price for investing in this property.
Although the rise in home prices is considered a catch 22, the near future is the best chance to purchase or sell a home. If you’re a homebuyer looking for the perfect home, now is the time to contact your realtor to inquire about the opportunities surrounding you. For the home sellers, you have the ability to wait for the value of your house to rise or you can sell it now if you’re struggling to pay the bills. Take full advantage of the foreclosures that are offered around your community, as those tend to be the best return on your investment!