While the news surrounding the housing market, the credit market as well as the subprime industries worrying homeowners, Atlanta's brokers say "think of the glass as half full." This comes from the Mortgage Bankers Association of Georgia and the Georgia Association of Mortgage Brokers.
As reported in the Atlanta Journal-Constitution, the brokers want to show potential home buyers that there are many advantages to the current market. Interest rates are still very low. In Atlanta, rates are 5.87 per cent for the average 30 year fixed rate loan. These rates are likely to fall a bit more as well, especially since a rate cut is likely later this month.
In addition, home prices are flexible to the buyer as sellers try to sell property quickly. Discounts are wide spread here.
Atlanta has become a very trendy location to live within the United States due to its location as well as its overall tourism industry. The location has seen a considerable slow down in the way of construction there, which will allow the current market to absorb some of the readily available, for sale properties.
News out of the US Department of Commerce shows that housing starts fell to a 27 year low in the month of December. Brokers in Atlanta want home buyers to see this as an opportunity, rather than a negative aspect.
The Mortgage Bankers Association of Georgia and the Georgia Association of Mortgage Brokers are representatives of area bankers, real estate agents as well as builders and brokers.
