string(7) "atlanta" Atlanta | Mandich Property Group string(7) "atlanta"

atlanta

Is The Atlanta Housing Market Slowing

Today’s Pulse On Atlanta’s Housing Market

For a few years now housing prices have been steadily climbing higher, especially in the Metro Atlanta area. If your house was immaculate or at least in decent condition, it would sell. Chances are you would have multiple offers on your property. But things look like they are changing.

First things first, if you have a property anywhere in the Metro Atlanta area, we would like the opportunity to make you an offer for it just the way it is. No hassles and a fast easy sale. You can contact us at (770) 756-8680 or visit this page and complete a short form and we will contact you shortly.

Okay – now on to why you are here – to learn what’s happening in today’s real estate market.

Bidding Wars Are Down

It looks like the days of putting a property on the market and the price getting run up by multiple offers are becoming a thing of the past for sellers. Don’t believe us? Check out this from Redfin’s Blog about bidding wars by Dana Olsen:

Just 10.4 percent of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war in August, down from more than 42 percent a year earlier. That overtakes last month’s 11.4 percent bidding-war rate as the lowest on record since at least 2011.

The national bidding war rate reached a high of 59 percent in March 2018, then started to drop as homebuyers reached their limit with sky-high housing prices and rising mortgage rates in the middle of last year. As the housing market has cooled slightly, so has competition to purchase homes.

Continue Reading – 10% of Redfin Offers Faced Bidding Wars in August, a New 8-Year Low

We suggest you visit that page and look at the graph that shows the National trend and you will see it hit a peek of around 60% in 2017 nationally and is now down around 10%.

Recession Fears

If you watch any news at all you know that we are in the midst of a trade war with China. While we believe this hurts the Chinese more than us, yet it still reeks havoc on the Stock Market. Add to that every other country in the world has a slowing economic market. All of this makes buyers think twice about purchasing a property, especially if they think there is a down turn about to happen. Everybody remembers the housing bubble of ’08, it’s fresh in their minds. Also there was an inverted yield curve in the month of August, which is usually a good indicator of a recession looming.

Lisa Chamoff wrote about this in a recent post on Forbes:

Homebuyer confidence is dropping, and more than half of current house hunters plan to put their home search on hold until the economy recovers, according to survey data released this week by Realtor.com.

The survey this month by Toluna Research found that more than 36 percent of 755 active home buyers expect the U.S. to go through a recession next year. This is up by about 6 percent when shoppers were asked the same question this past March.

Continue Reading – More Than A Third Of Home Buyers Think A Recession Is Coming

Atlanta’s Housing Market

So where does Atlanta’s housing market fall in all of this. Inside the perimeter we are seeing some change. We have seen properties listed longer as well as sellers having to slash their asking price.

Michael E. Kanell had this to say about it in the AJC earlier this year:

Yet the number of homes sold during the month was 8.9 percent below that of March 2018 as fewer buyers and sellers found common ground. Home sales volume has been declining for several months in metro Atlanta, including a 7.4 percent drop in February.

Read The Full Article Here

Over the years we have always seen inside the perimeter to be effected first, then spread to the surrounding counties.

So Are We Headed For Another Housing Crisis?

In all actuality, we don’t think so. There were two major factors that really had an effect on the crash of ’07-’08.

  • First, there were a lot of homes available. Builders were going crazy putting up new subdivisions everywhere throughout the Metro Atlanta area. The supply far outweighed the demand.
  • Second, Banks and Mortgage companies were making very risky loans and basically lending money to people that couldn’t afford to make the payments. Since the crash though lending standards have tightened up, to a degree.

In Conclusion

So what’s the take away from this? We do think there will be a correction coming, no market keeps going up for ever. At some time there has to be some sort of correction and prices will probably drop a bit. If the China trade war continues or there is some other global economic catastrophe, it may be a little more severe. However, we aren’t trying to paint an all “Doom and Gloom” scenario!

Bottom line, if you have a house that you are thinking of selling, now is the time to do it. This is especially true if you have a house that is a “handy-man special” that needs some repairs or needs major work and you can’t afford to make the repairs and need to sell as is.

Even if you house is ready to list with an agent – it’s still a good time to sell. Better now than later and have to wait until after any correction because you never know how long that will take.

Here’s a short video that goes over a few of the points we covered and will expand more on these thoughts:

We Buy Homes In Any Condition Fast For Cash In Atlanta

How To Sell Your House For Cash Fast In Atlanta!

(770) 756-8680

Do you want to sell your Atlanta house fast for cash and not have to pay commissions or any other hidden fees? Mandich Property Group will buy your house with a fair, all cash offer – no commissions, no closing costs and no hidden fees. No need for you to waste time looking for an agent and making costly repairs or waiting an unknown amount of time to get an acceptable offer and with no strangers trampling through your house – when all you want to do is relax. You don’t have to settle for any of those inconveniences or lengthy real estate agent contracts.

Mandich Property Group will buy your house in as is condition and in any price range. We purchase properties all over the Atlanta area. The best part is no fees, no commissions, no obligation and no cleaning whatsoever. Regardless of why you need to sell, we will buy your home fast.

We know selling a house is stressful under the best of times and if you are experiencing any financial problems on top of that – well it just makes it that much worse. We have bought houses from people that have had a death in the family and inherited a property, facing foreclosure, relocating, owe back taxes, facing divorce, damages and so many other reasons… we have worked with them all and will work with you also.

We will pay you a fair cash offer for your property in it’s current condition, no matter what that condition might be. We are an investment company that pays cash so you/we will not have to wait for any paperwork or approvals to be made, we can pay you cash in your time frame. Therefore we can make this transaction fast and hassle free! We will not pressure you at anytime, if you don’t like our offer you are under no obligation to take it. However, we find most people that weigh the options find they like our offer, due to the process being fast and hassle free.

We are not like some “we buy houses” companies that make an offer without even seeing the property. We take many things into consideration in the price of the offer we make. We base the price off the current market value, the condition of the property and a lot of other pertinent information such as the community and schools. Then we will make you a fair all cash offer.

We can move as quickly as you want and close on the sale in just a few days if that fits your schedule. We strive to make the process of selling a house as painless ass possible, we will answer any questions or concerns you might have.

We have made the selling process extremely easy for you;

  1. Contact us – just call us at (770) 756-8680 or click this link to fill out a short form, we just need some basic information to get started.
  2. We will do some research on the property and the area and contact you with any questions.
  3. We will schedule a time at your convenience to come look at the property (don’t worry, no need to repair anything or even clean – it will not be an inspection).
  4. We will make you a fair cash offer.
  5. Accept the offer and pick a closing date. Come to closing with our local, reputable real estate attorney and then the best of all – you walk away with cash.

We make it as easy as that! If you like the offer we make, you walk with cash on the closing date of your choice – if you don’t like the offer we make when meet you at the house, we walk away.

Again – any size, any condition and any reason, we will buy your house in as is condition. We have helped others in Atlanta and we can help you too.

So contact us today to start the process, we look forward to working with you soon.

Scroll to Top