Buckhead Houses and Condos
Just noticed that Bloomberg has reported that sales of existing U.S. homes have jumped more than forecasted in July to a 5.24 million annual rate. What does that mean? Well that is the highest amount since August of 2007 and the biggest gain since the NAR began keeping this statistic in 1999. On the downside, the median price fell 15 percent as a result of foreclosure sales. So let’s focus on the bright side.
Atlanta, and especially Buckhead, is growing and will continue to do so. Housing value, employment and cost of living are much better here than most places. We must be near a bottom for housing prices and most people are beginning to think that there can’t be much of a downside left in the current housing market. We have incredibly low borrowing costs as a result of the near record low interest rates. The government is giving away money with the $8,000 first time buyer credit (ha, and yes that is nothing new but $8,000 can make a lot of mortgage payments on a first home). However, you must hurry as you have to close by the end of November before the program expires. Finally, houses are priced to move so you can’t help but get a deal. So come on everyone, Buckhead is a great place to live so why not by a house or condo now!
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