Is This Investor Heaven?
Thursday, April 29, 2010
It’s real close.
Today’s real estate market is about as close as many investors will get to ‘heaven’ until that moment when we stand in front of the Pearly Gates and Saint Peter reviews our earthly activities.
Prices are at the lowest levels since 2005, interest rates are low, and the number of potential renters in the marketplace is at an all-time high!
Let me put into perspective what you may be missing -
through March 31, 2010, our office at 1411 North Highland Avenue closed 400% MORE sales than we did during the same three month period in 2009 and UP 158% when compared to 2008 sales. BUT - our dollar volume of sales closed during the first three months in 2010 was DOWN 1% when compared to dollar volume during the same period of time in 2009.
ARE YOU PAYING ATTENTION? We closed on four times the number of sales in the first quarter of 2010…but our dollar volume was still down 1%. That has got to get your attention!
Investors are coming out of the woodwork and are buying homes that were selling for far more a few years ago and then fixing them up and re-selling some and keeping a number of them in their investment portfolio. (Don’t forget - you can put investment real estate into your IRA! See our blog posted on March 1, 2010.)
Questions? We have the answers!
- Scott Askew
Posted in: Intown Atlanta Real Estate News