Where does the time go? I can hardly believe that it is already the end of the first full week of January 2014. We have hit the ground running. However, new challenges await us this year. First and foremost, we have buyers looking for new homes and they are having a difficult time finding what they want. There is a shortage of inventory in several price points in our area of North Atlanta. So….if you have been thinking about selling in the spring now might be the best time to call us.
There were two big developments in the 2013 housing market……Increased Home Prices and Increased Interest Rates.
In 2014, we are going to see much of the same…prices will increase, although probably not at the same rate as they did in 2014, and interest rates will continue to go up.
However, unlike in 2013, we think interest rates are going to play a bigger role this year in the overall market. As rates increase they will have a more dramatic impact on the overall affordability of a house for buyers and potential value of a property for sellers. The higher the interest rate the less a buyer can afford to borrow….and the less you may get for your house.
Again, if you are considering buying or selling this year, there may be some significant advantages to making the decision sooner than later. To talk about local market trends, your real estate goals, and how we may be able to assist you, please call me at 678-907-9155.