Luxury homes now within reach

I had the opportunity to attend a broker luncheon today at 1100 Garmon Drive in Buckhead, where my friend Adam has a gorgeous 7 bedroom Mediterranean offered at roughly half the price it entered the market... not too very long ago. With jumbo mortgage rates hovering in the 5% territory, there are plenty of opportunities for the move-up buyer to land the home of their dreams!

Click here to see details of this luxury home for sale on Garmon Drive in Buckhead.

Atlanta home values

I have set up a great tool to help you monitor prices and values in Atlanta -- by zip code or neighborhood. This site will update you monthly with a snapshot of which type of homes are selling, at what price... and how long a particular house has been on the market. You can even view a graph depicting asking price vs. selling price, which can be eye-opening for many homeowners who might be working with a realtor less than educated in how to correctly price their home to sell.

Just go to www.AtlantaRealEstateMarket.info and you can enter your address to receive a detailed market snapshot of your neighborhood... or any other neighborhood where you may be interested in buying a home!

Slowly but surely!

Many economists are already referencing some early indications of price stabilization. (Even though we're off 8.5% over last year's median price.) Sales of existing homes reported up 9.2% for September! This means that at some price, EVERYTHING WILL SELL! We would rather see this continued absorption of home supply than to worry about short-term losses in home values. It's what I've been saying all along -- even if you are "losing" money by selling right now, chances are you are "making" money on whatever you are buying! We do need a steady supply of qualified buyers to continue to bring these neighborhood inventories down and return us to a period of normal, steady price growth. This will serve to further calm all those unbridled consumer fears -- and that will revive the broader economy! See how it all works together?!?! Hang in there, Atlanta. Slowly but surely, we will recover.