Monthly update on U.S. real estate trends

Existing Home Sales

Existing home sales slowed in January. According to Lawrence Yun, NAR chief economist, this is mainly due to the lack of urgency with the extension and expansion of the first-time buyer tax credit in November. January sales of 5.05 million remain 12 percent above the 4.53 million-unit level last year.

Median Home Price

Existing-home price was $164,700 in January, 3.4 percent below December and unchanged from January 2009. Distressed homes, which accounted for 38 percent of sales last month, continue to skew prices downward as they typically are discounted in comparison with traditional homes.

Inventory

The supply of homes continued to shrink, falling 0.5 percent to 3.27 million, representing a 7.8-month supply at the current sales pace. Compared to a year ago, there are now 10 percent fewer homes on the market. This is the lowest level of competing homes on the market since March 2006.

Double rainbow at Mayfair Renaissance condo in Midtown Atlanta

Now...I'm not Irish -- but I was lucky enough to snap this photo of the double rainbow near this Midtown Atlanta highrise. The pot of gold was definitely to be found in the great prices of the one and two bedroom condos for sale...and walking distance to Piedmont Park! Sent from my Verizon Wireless BlackBerry

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Great sunset view from Metropolis condo in Midtown

This is a million dollar view...from a $300,000 condo in Midtown! Metropolis condos have one bedroom and two bedroom condos for sale, right in the heart of Peachtree Street!

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Condos for sale at 1010 Midtown

There are plenty of great views still available from condos for sale at 1010 Midtown. Look at this fantastic shot I took from a condo balcony looking down Peachtree Street at downtown Atlanta. Cannot imagine a more impressive view -- and it's on the illustrous "Midtown Mile" as well! There will not be a building with better unobstructed views of Midtown and downtown Atlanta built for several years. If you are interested in being kept up to date as the developer revises future pricing on these Midtown condos, drop me a line. I will put you on a monthly update for condo prices in all of Midtown.

Click here to see condos for sale at 1010 Midtown

Fantastic deal on a ranch home in Sagamore Hills -- COMING SOON!!!

A must-see for the buyer looking for ranch homes in the Sagamore Hills area! Not on the market yet... but the estate is finalizing details. Open living space with 3 bedrooms and 2 baths. Impressive outdoor living space on a terraced patio in the backyard. This place has such potential and will be priced to move quickly.

Click here for more information on this stunning Sagamore Hills brick ranch home.

Amazing price on 2BR/2BA end unit condo in Decatur!

Know anyone working with CDC or Emory that would love about 1,100 square feet of quiet enjoyment... for $159,900? Wow!!! This lovely end unit condo is perfect for the Emory grad student, first time home buyer, CDC scientist -- or anyone else wanting to have a condo near downtown Decatur. Just will not last at this price!!!

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!