In metro Atlanta housing market, sellers win - New York News

In metro Atlanta housing market, sellers win

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ATLANTA -

The economy is better than it once was, and metro Atlanta's housing market is also on the rebound.  Local realtors say the upturn in the economy has created another problem, and it's a problem for buyers.

Ken Alfiero and his wife already have plans for a three-bedroom, two-bath home in Decatur, and they haven't even closed on it yet.

"I was going on the internet at least twice a day and was looking at everything that was coming on the market" said Alfiero.

He quickly discovered that metro Atlanta is now a seller's market. Michael O'Brien of Re-Max tells FOX 5 consumer confidence is up, rates are low, and that means there's an inventory shortage.

A few years ago, there were fewer buyers out there, but lots of inventory to be had because of record numbers of foreclosures.  Now, O'Brien says the market has rebounded dramatically.

According to local realtors, home prices are up an average of 10 percent.  It's a seller's market, but buyers still have the advantage of relatively low interest rates.

O'Brien says to make sure you get the home you want, you should be prepared.  He suggests starting the pre-qualification process before you look.  That means finding the right budget and sticking to it.

Once you find the home you want, don't wait.  Or, like the Alfieros, you could see it slip through your hands.  They say that happened to them a couple of times.

If you're a seller, you are in the driver's seat.  O'Brien advises, though, that you get and keep your home in good condition, and price it right.  In this market, he says, you should have no problem selling it.

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