This morning I was looking back at my 2010 year-end report
and reading over my thoughts on 2010 and predictions for 2011. I feel pretty good about what I wrote a year
ago, but was dead wrong on the interest rate prediction that they would continue
rising. In fact they went really low and
are still really low today. You can get
a 30 year fixed mortgage today for 3.8%, and I’m pretty sure that is a record
low number. An article in the Atlanta
Business Chronicle today said that these record low rates are not attracting
many new buyers because those that could afford to buy or were in a place where
they could refinance have already done so.
In 2011 we continued to see the foreclosures and short
sales, and as a matter of fact, I just listed a short sale in the Brookhaven area on Tuesday. These are an excellent
opportunity to purchase a home at a reduced cost, especially when you consider
the extraordinary interest rates that people are locking into these days.
Below I have crunched the numbers and have a comparison of
2011 Buckhead Home Sales versus those in 2010.
Across the board the numbers were better in 2011, specifically the
average Buckhead home selling for 6% more than it did in 2010. In 2011, the most expensive home to sell closed for $6,500,000, and it was located on Habersham Road.
What will 2012 bring to the Buckhead real estate market? So far it's been great in January. Yesterday I had two full price cash offers rejected by a seller that had multiple offers on their house. Now that doesn't happen every day, but it used to... You can call me a broken record, but a well priced home in a good location that is presented well will sell quickly, and often close to if not over the list price. It is my goal in 2012 to ensure that my clients understand this concept and that my listings meet all of those criteria.
I hope you will call me if you or someone you know is interested in buying or selling a house in Atlanta, or anywhere for that matter. I have relationships with top REALTORS all over the country and would be happy to put you in touch with them if you are moving outside of Atlanta. If you want a more targeted market analysis for your neighborhood, please contact me and I would be happy to assist you.
Thanks and have a great 2012.
Carson Matthews
Atlanta Fine Homes Sotheby's International Realty
678-595-9286
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