Is it a Good Time to Buy an Atlanta House?

Posted by on Monday, December 15th, 2008 at 8:20pm.

With all the grim news on the real estate front, many would-be buyers are shying away from purchasing a home right now.

The question many are beckoning is: Is now a good time to purchase an Atlanta home?

Perhaps the best way to answer that question is to say that any time housing prices are low is a good time to buy!

If your credit is strong and you have a nice little nest egg set aside for a down payment, then this just may be the opportunity you’ve been searching for.

This is because:

  1. There is a great inventory of Atlanta homes for sale. That means you can take your time and find the home that’s just right for you. Even up until two or three years ago, it was a race to the finish for many homebuyers, as homes were being snatched up the moment they hit the market.

Luckily for you, the buyer, this is no longer the case. A larger inventory of homes, combined with the fact that most of those homes are sitting on the market for an extended period of time, means that you have the time to weigh your options and shop around.

  1. Home prices have plummeted, and sellers are looking to make a deal. This may be very well be the time to get an Atlanta home you may not have been able to afford just a few years ago.

You also have much more “wiggleā€¯ room in terms of the price of the home, inclusions and incentives from the seller. Although home price are unlikely to keep tumbling (most sellers at this point are simply resigning themselves to the fact that their home will sit for a longer period of time), the deals are out there to be had.

You may also want to look into buying a foreclosure or a short sale, as these types of situations are abundant in today’s market. Before buying one of these homes, however, get a knowledgeable real estate agent in your corner that can help guide you through the process.

  1. Interest rates are fantastic. Interest rates are currently at extremely low levels – not historically low, but nonetheless worth looking at – which may give you the advantage of purchasing a larger Atlanta home than you would have been able to afford otherwise.

For more information on metro Atlanta homes for sale contact Tina Fountain Realtors at 404.842.1555

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