We’ve all heard the bad news that has been plastered everywhere about the current housing market situation. From huge increases in foreclosure rates, to significant numbers of lenders closing doors, and builders reducing their inventory, it seems like the world is coming to an end. Don’t believe it’s all bad just yet!
As with every cloud there is a silver lining. For first time home buyers with good credit and even just a little bit of money to put down this is a dream situation! Many of Atlanta’s new home builders are trying to drop as much as 50% of their current inventory. This means that the builders are offering amazing incentives. This is a 180 degree change from just a year ago. Many buyers and agents got used to full sticker price no negotiating situations for new construction. Now, you can expect to see builder paid closing costs, decorating allowances, finished basements, and still negotiate on the price. This is the time for first time home buyers to truly take advantage of a fantastic market situation for them.
First time buyers aren’t the only winners in this situation, however. Long term real estate investors can also take advantage of this situation. If you plan to buy and hold real estate as a long term investment this is about to be a fantastic market for you as well. As the foreclosure rates increase and put pressure on other sellers who truly need out of their homes we will see phenomenal opportunities that have been rare over the last few years.
As all of the news continues to scare sellers this is the perfect time for Buyers who plan to hold their homes for a number of years to take advantage of the change in the market. Now that everything is shifting, it is the buyers who hold the reins. Let’s start looking, negotiating, and finding some fantastic deals!!
Posted by Amanda Nichols ~ Realtor ~ Keller Williams Realty Peachtree Battle
770-490-1563 ~ AmandaNichols@kw.com ~ www.bestagentever.com
