Rants on Real Estate 
My wife always says: "Want the truth? Ask Terry. Want to feel good? Ask Me." This is the blog section that you get the truth that isn't on HGTV or CNN. I encourage you to post your comments and responses for some good, healthy, robust dialogue. It will be fun!
There are currently 3 blog entries related to this category.
North Cobb Inventory Disappearing?
Tuesday, October 6th, 2009 at 9:41pm. 182 Views, 0 Comments.
Today was the eye opener that I've been waiting for...
All the doom and gloom of record foreclosures and burgeoning inventory aside, it seems there are not enough "nice" homes to satisfy demand in the $150k-$200k price range. One new home community (yes, they still exist) in North Cobb had UNDER CONTRACT signs on 90% of its properties! John Adams reported in his weekly column in the Atlanta Journal Constitution that the best time to buy may be coming to an end. This weeks interest rates are some of the lowest on record. 30 year fixed rate loans are well under 5% and have held there for several days.
I spent some time today with a great family expecting their third child and looking for a little more room. I went through all 98 listings that met their…
Atlanta Real Estate Inventory Down 10% from 2008
Wednesday, July 22nd, 2009 at 5:48am. 212 Views, 0 Comments.
Many sources have predicted that the Atlanta housing market would hit bottom and begin a slow but steady recovery in late 2009. It sure seems like that is the case today as a new report shows months of inventory for single family detached housing in June reduced to 12 months verses 13.6 months in June 2008. This is a positive sign that while the economy is still weak, the housing market is beginning a slow turn to the positive.
The average sale price for detached housing in June was $217,790 in Metro Atlanta, a 13.4% decrease from 2008, but $42,000 above the recession low in February. It was also the 4th consecutive month of price increases. Again, the basic economic principal of supply and demand continues to prove that the market is gaining some…
Why New Home Sales Statistics Don't Matter!
Wednesday, June 24th, 2009 at 8:55pm. 129 Views, 2 Comments.
The new home sales index came out this week and was again, very week. The media sees this statistic and makes the basic assumption that the housing market is going to take longer to recover. While the media reports the statistic, I've yet to hear any local or national outlet report on the reasons. In my opinion, this bellweather is not a good indicator of what is happening in the housing sector. I've outlined a few thoughts below.
BUILDERS WERE WIPED OUT
In Atlanta, many of the small local home builders have lost their businesses due to the economic crisis. I personally knew some incredble home builders that were also good business people. They took risks like most, and did not see the tsunami of the housing downturn coming. By the time they did, it…