Atlanta Real Estate Firm Declares the Bottom is Past in Metro Atlanta

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) June 1, 2010 -- Real estate continues to be a topic of much debate in the media, as economic experts and others search for promising signs of a recovering economy. One Atlanta real estate firm has regularly monitored the trends and issued a regular series of market updates using the company blog, an informational video channel and real estate whitepapers.

Prudential Georgia Realty has analyzed statistical data from respected sources plus local insight from their network of over 1200 agents in the metro Atlanta area. Some of the data sources used include the Case-Shiller Index, SmartNumbers, Trendgraphix, RealValuator, RealtyTrac, HSA Associates and the Mortgage Bankers Association. The conclusion is that we have finally past the real estate bottom for home values in metro Atlanta. Prudential’s report on this information is available in a six-page whitepaper, available by clicking on the link at the company’s home page, www.PrudentialGA.com. Of course, real estate is local and micro-local markets can be different. Your local Prudential Georgia Realty agent has access to very detailed local data and can advise you on the specifics of your property.

“We have a unique window of opportunity to buy real estate in Metro Atlanta. Most properties are priced below their replacement costs and mortgage rates are approaching 50-year lows. But some buyers were still worried that home values would continue to drop significantly and it may not be the best time to buy. And in some parts of the country, that is still true. That is why we wanted to get this message out quickly. There are many confusing reports that show different types of metrics,” explained Prudential Georgia Realty President and CEO Dan Forsman. “It’s important to note we are talking about home values versus average sales prices or median prices. Home values reflect the value of all our properties, whether or not they are on the market. Average sales prices only show the mean prices of homes that are actually selling. Median prices simply reflect the price in the middle of the group being measured. Consumers really want to know about the value of their home compared to their local competition.”

We believe that home values are driven by four factors — market supply, market demand, mortgage rates and replacement costs. While these values have stabilized, the market is still down 23.98% from the peak according to the Case-Shiller Index. Short sales and foreclosures still represent more than half the transactions in metro Atlanta. With a large supply of bank-owned properties still not yet listed for sale, these properties are expected to impact our market for another two to three years.

For more details, download the whitepaper today (no registration required). Home buyers and sellers can also read the Prudential Georgia Realty blog at http://atlrealestatescoop.com/ for the real scoop on the Atlanta real estate market, become a fan of the Prudential Facebook page at http://www.facebook.com/PrudentialGeorgiaRealty, follow this Atlanta real estate leader on Twitter at www.twitter.com/ATLscoop or visit the YouTube channel at http://www.youtube.com/PrudentialGeorgia. Prudential Georgia Realty also provides a regular series of e-marketing content including e-cards, newsletters, press releases and other electronic announcements.

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