State of the Union Summer 2015: Prices are up, up and away – To the moon I say!

Everything is rising, especially homes and condos within the Perimeter.   Prices, in many cases, for many buildings, are now at pre-ression levels, and some buildings are hitting all time highs.    Continued record low interest rates, a lack of new housing supply for sale, an improving labor market, and rapidly advancing Atlanta Metro rental pricing has pushed more and more to home ownership.      The field is so crowded not that most properties are going under contract at or above list.
Of my current/past ten Real Estate Brokerage transactions all have either gone under contract at (or above) list, or have subsequently received back up offers above the list price.  While this has been a tremendous plus for my Sellers that my firm represents, it has made it difficult to find, see and bid on select properties that my clients are interested in.     Units at places like 1010 Midtown, Viewpoint, and Eclipse are often gone within a day if not hours of being listed.

At the Macro level, real estate activity and transactions continue to grow at a brisk pace.     Coming out of April, it was announced in late May that contract prices nationwide were up over 9% Year over Year.   In the article below The National Realtor Association notes that residential housing activity is at a near 10 year high, dating back to April 2006.   The article and video within the link go on to speak in further detail.

http://www.realtor.org/news-releases/2015/06/pending-home-sales-maintain-momentum-in-may

As many know I have had a number of small, but high profitable Owner financed transactions this year.  Couple that with hopefully purchasing one or two more small commercial properties and it is looking like a good year for not just the ATL Condo Deals Brokerage (and our clients receiving full price offers and record rents) but for my Real Estate investing in general.   Rents on both my clients properties as well as my own are up anywhere from 10-20% over last year.

As always, if you are seeking the best options in the Atlanta Real Estate market, do not hesitate to reach out and discuss your plans.