March 2008

One of my pet peeves is the way the mass media throws out headlines without giving readers a way to evaluate the information. For instance... I read the headline in an Associated Press story released today, which stated "Home Sales Rise Unexpectedly in February, As Prices Keep Tumbling." This story was based on a National Association of Realtors' report on February home sales figures. The average reader will assume that February was exceptionally strong. But the thing that the casual reader may not realize is that it's a lagging indicator. This information is actually based on how many sales closed in February. These statistics relay information from 30-60 days prior (the average time it takes a house to move from contract to close in this area). If…

More buyers are actively searching for homes lately. During the past four weeks, there has been an increase in home showings in and around Alpharetta and Johns Creek. It has become active enough to identify as an actual trend, locally, but it's impossible to know how long this will last. Although the activity has increased, it hasn't yet translated into sales. Interest rates dropped under 6% for 30-year fixed mortgage loans which will encourage renewed activity. Spring is in the air and those individuals searching for a home are becoming more interested in seeing properties. I would not be surprised to see sales pick up as we go into the strongest season for home sales.