Tag Archives: Sales and Marketing

By: Alec String
If you can’t find a good deal in today’s market you aren’t looking. There is still an abundance of inventory at prices that will work based on long-term investment principals. In many cases the market rent will more than cover the operating expenses and even generate positive cash flow. This is the key principle for a successful long-term Real Estate investment. You should also analyze the potential for a rise in value over the next 7-10 years. Start building long-term wealth today through a portfolio of well located and underpriced Real Estate.

As you may have seen in the Saturday, August 15, 2009, AJC,  small positive signs were reflected in the 2Q 2009 edition of The Development Advisor.

The NRT Development Advisors’ 2Q 2009 edition of The Development Advisor, the company’s quarterly review of the metropolitan Atlanta residential market, has just been released. The second quarter of the year is historically one of the industry’s strongest, and this year was no exception.

Although there were positive signs in many areas in comparison to the first quarter, the mixed results reflect the uncertainty of the times. Macroeconomic pressures such as high unemployment in the state of Georgia and metro Atlanta, weak consumer confidence, difficulty in obtaining a mortgage and appraisal issues continue to weigh heavily on housing.

In addition to seasonality, several factors have contributed to the absorption improvement in metro Atlanta’s housing market since 1Q 2009. The $8,000 first time home buyer tax credit, historically low interest rates and the second highest affordability index recorded have combined to encourage home buyers to move from the sidelines and take advantage of home ownership.

Highlights about the 15-county metro area from 2Q 2009 report include:
·    Total closings were down 9% compared to 2Q 2008. However, there was a 32% increase over 1Q 2009.
·    Compared to 2Q 2008, resale was down only 4% while new construction declined over 31%.
·    Both resale and new construction enjoyed a significant increase in closings when compared to the 1Q09 results.
·    Sales price declines were the most pronounced in resale transactions versus new construction, primarily due to short sales and foreclosures.
·    New construction had an 8% price decline over 2Q 2008 while resale declined 22 – 24%.
·    On a positive note, inventory levels continue to decline significantly for both resale and new construction and building permits remain at historic lows.

Much of our information is compiled from the company’s proprietary Universal Database, a system that pulls data for the entire metropolitan Atlanta market from both FMLS and GAMLS, deleting any duplication.  Click here to download the full 2Q 2009 report.