Are we in a "down" Real Estate market? News reports say so. Facts may support that assessment. Compare Jan. - June, 2006 to 2007 in Greater Atlanta. The number of homes sold have declined over-all by about 30%.

      But facts can be confusing: The Median Home Price (MHP) in Greater Atlanta during the same period of time has increased by about 9%. How do you explain that rise in MHP in a declining market? During the same two six months period, there have been about 30% more $1 million plus homes sold in 2007. Less homes sold over-all but more over $1 million results in a net increase of the MHP. However, in homes below $1 million the MHP of homes sold has fallen about 9%.

     Five considerations:

1. Subprime and Adjustable Rate Mortgages have put many home owners in a bind. Value of their home has dropped; thus little or no equity to borrow. Adjustable rate mortgage adjusts up and monthly mortgage payment increases. Many home buyers fear foreclosure is near. What do to? Call your lender immediately. Most reputable lenders want to help owners avoid foreclosure. Do not wait. If you hesitate to call your lender, call The Gold Team. Sam is a professional. He will gladly discuss your situation and where possible even help consult with your lender.
   
2. Home values have declined; thus little or no equity. If you have to sell because of a transfer or move, you may want to consider leasing your home rather than selling it at a loss. But there are many considerations involved. Again, call The Gold Team. Sam may be able to help you. Do you know another Real Estate Agent who would advise you to Rent instead of Sell? Many will not because their commission is gone. However, you should know that there are many excellent, professional Realtors who live by a stringent code of ethics and who will endeavor always to work in your best interest.
   
3. What about buying foreclosed properties in this market: is that a good idea? Foreclosures are increasing dramatically. Read very carefully: there are still some good values in foreclosed properties; however, in the current market the risks are greater. Recently Sam talked to a Realtor friend who specializes in foreclosures. He had some valuable wisdom to pass along. Sam also has experience in this market. Call The Gold Team and discuss the possibilities in buying foreclosed properties.
   
4. First-time buyers are in hog-heaven. The current market is begging for first-time home buyers. Even with a small increase, mortgage rates are still at a historically low point. Price of homes in the reach of most first-time buyers have fallen. So "bargains" abound in this market for these buyers. To learn your best strategies, call The Gold Team. Sam will be glad to discuss them with you.
   
5. Your trade-up home may now be in reach. Some buyers are selling their homes at a price below what they thought it would be worth. But guess what? They then buy a more expensive home at a bargain price. Do the math: you sell your $200,000 home. It sells for 10% less. You "lose" $20,000. You buy a $350,000 home, also for 10% less. You "save" $35,000. There are other savings: for instance, let's say that on the sell of your home you agree to a 7% professional fee. So instead of paying a sale's fee of $14,000, the fee is $12,600; reducing your cost of sale by $1,400. Also, when your purchase your new home in this "buyer's" market, the seller should be paying fees for that transaction per your negotiation of the purchase. Obviously this example is hypothetical; however, every day in this housing market, similar transactions are routine.
    

     Here is a secret that top-of-the-line experienced professional Realtors know: there is no such thing as a "bad" market. Every market has strong, positive opportunities. Every market has challenges.

     The best friend you can have in any real estate transaction, in any market, is an experienced, client-focused, professional Realtor. Call The Gold Team with whatever questions you have. We want you to see if we meet the high standards of professional Realtors that have been described in the above.

You can reach Sam at (678)597-5829.