Article by: Tom Stocks
2013 was one of the most active years we’ve had in Real Estate in quite some time. This “hot” market actually started at the tail end of 2012 and hasn’t shown any signs of slowing down. The two main attributing factors for this resurgence in the market are the lack of Inventory (fewer homes on the market) and the continued record setting low Interest Rates. During the market “crash” of the previous years, we sorted through the huge supply of foreclosures and short sales while new home construction basically came to a halt.
Now that most of the short sales and foreclosures have been sold, along with virtually no additional homes being constructed during that period, we found ourselves with a void in inventory towards the end of 2012. We are basically back to “Supply and Demand.” Now is the best time to sell a home in quite some time. Any home priced well in this climate will sell quickly with many sellers getting close to full price and/or finding themselves in multiple offer scenarios.
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At the same time, it’s still a great time to BUY a home due to the favorable interest rates. It makes for an interesting time in Real Estate because the existing market is actually beneficial for everyone.
Consumer confidence is rising and new home construction is on a frantic pace as they simply try to build them fast enough for the demand. Look for 2014 to be another wonderful year for the Atlanta Housing Market….for both Buyers AND Sellers.
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ABOUT THE AUTHOR:
Tom Stocks is a Realtor at Harry Norman, REALTORS. He is a 46 year old GA native and has been in the Real Estate profession for 16+ years. Tom has been recognized with numerous achievements such as the Phoenix Award and Life Time Member in the Million Dollar Club. He was a former school teacher and has coached football, baseball, soccer and basketball for the past 8 years in the community as well. He believes his motivation, professionalism and vast experience in the business distinguish him from his competitors.
Tom can be reached via cell at (678)-283-9570 or email at tom.stocks@harrynorman.com.
