It's no secret that today's real estate market is in transition. Looking back over the past decade I've spent as a full-time REALTOR, I recall a time--not so long ago--when demand in our market was so healthy that new homes were SOLD before they ever "came out of the ground".
The market was so hot that buyers often purchased homes based solely on seeing nothing more than a vacant lot and the builder's model home because there was no "standing inventory" from which to choose.
Existing homes, "resales", also benefitted from this brisk market, since new inventory was virtually non-existent and many homebuyers could not wait 60-90-120 days for a new house to be built. Thus, they eagerly selected a resale, even if it was maybe not in pristine condition, on the most desirable lot, etc.
Needless to say, demand has cooled a bit from those frantic days of just a couple of years ago. Overall, I believe this is a positive development that has created a more level playing field for both buyers and sellers in the Gainesville and Hall County Georgia market.
For homebuyers, there is, in most price ranges and areas in or around Gainesville, Lake Lanier, Flowery Branch, Oakwood, Lula, Clermont, Braselton, Buford, etc., a good supply of homes (both resales and new construction) from which to choose. BEWARE, however: I have not seen any evidence that homesellers are "giving away" their homes in any type of panic over a slight market correction. This simply means that, in any market, the BEST houses--those that are in desirable locations, in top-notch condition, and fairly priced--will sell FAST.
For homesellers, this means that houses which are not in tip-top condition, in good locations, and priced fairly, will linger on the market perhaps months longer than a couple of years back. The current market correction makes it imperative that you're one of the BEST properties--in condition, location, and price--from which a buyer can choose.
As we move from winter into spring and summer, indications are positive for an active real estate market in Gainesville, Lake Lanier, Flowery Branch, Oakwood, Lula, Clermont, Braselton, Buford, etc. We're in an area that has been blessed with low unemployment, great weather and abundant beauty and opportunity. It's no wonder that our area is growing!
I'm happy to discuss your real estate questions, so please post a comment, email me (jskogman@bellsouth.net) directly, or call me at 770-533-7241.
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