Well, you’re not alone. In a recent survey 50% of potential buyers felt foreclosures were at least a moderate problem in their area and did depress overall home values.
But there is good news – Buying a Home is still appealing!
A recent National Association of Realtors survey found that 8 out of 10 of those surveyed felt that buying a home was still a good financial decision.
The 8th Annual Housing Opportunity survey found that despite job security concerns being the highest in the last 8 years, buying a home was still on people’s minds. 68% of those surveyed feel that now is the time to buy even though a majority was also worried about the drop in home values.
According to RealtyTrac, foreclosures are still trending up in many areas of the country and experts feel this will not level out until late 2011. The majority of those surveyed felt that banks have made it too hard to get a loan.
Are new buyers waiting to enter the market?
The Annual Housing Opportunity survey found that 39% of renters feel that owning a home in the future was a high priority and that 24% felt owning a home was a moderate priority. This holds good news for the market as continued small upticks in sales volume and new building volume continue to be reported.
Another silver lining for the economy, while unemployment is still high, experts report that many businesses who had to do layoffs in the past are now seeing increased revenue and some are even having to hire new staff to meet demand.
I am currently working with residential and multifamily investors from Japan and Canada, and in talks with an Austrailian firm that wants to buy a portfolio of up to 150 properties in Atlanta. They all see the long term benefit and opportunity of investing in the Atlanta market at this time. In 4-5 years and beyond I think they will be very pleased with wise real estate investments made now compared to thier other investments, and especially compared to leaving funds in the bank.
If you or anyone you know would like to discuss taking advantage of the outstanding, single family, multifamily, and commercial Atlanta property investment deals in this once in a lifetime real estate market, give me a call at 678-585-9691.
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