We’re seeing some serious changes in the market. There has never been this much money invested in real estate (in Atlanta) and the market is hotter than ever. We’re in the longest streak of appreciation, as well as the lowest inventory in history. But, it is still a great time to buy or sell!
Why? Rates are hiking up, along with prices, but also we’re going to see a major increase in tax bills and likely insurance. Contracts that are now closing set the new comps in neighborhoods, so taking advantage of buyer demand while it is still red hot pays off big. Sellers have an opportunity to capitalize now and move their equity into a larger home or multiple investment properties, which will create massive wealth long term if done correctly. Buyer demand may start slowing down if rates get very high, but inventory is going to remain tight for years (even more so in Atlanta). Click here for sellers and reach out to me for a free consultation!
On the flipside, buying now will lock in your monthly rate and hedge you against inflation, which is currently at 8% (highest since 1982). Most people and couples under 35 chose to rent, so their rent rises during the time they could be building equity in their starter home, making it much harder to save and take the next step to buying. They’re further burdened financially as rates rise as well as inflation. Their approval amount will be lower and home prices will be even higher, making it harder to even get in the game unless they make significantly more money. It’s more important now than ever to buy assets! We are going to face inventory shortages for at least the next 10-15 years, so it is a safe bet that prices and rent will continue to rise (along with many other factors). Click here for buyers and use my mortgage calculator!
It can feel like an uphill battle making a move in this market, but I’m here to help guide you through the process and make it easy!