New reports from RealtyTrac say that investment is booming in Atlanta real estate, which is great for helping soak up excess inventory and normalizing the markets, but can spell difficulty for homebuyers seeking deals in the Peach State. This means it’s more important than ever to start figuring out your home buying finances earlier rather than later when you are starting your home search.
Investors are usually buying homes entirely with cash, which is preferred by sellers because it’s quicker for them, especially if buyers don’t have rates locked in and need the extra time required by a financing contingency. This time is costly for the seller, because it lengthens the time period they have to hold onto the home, and it possibly delays their own foray into the market. In June, paying all cash was done in 42 percent of the transactions, and investors represented 27 percent of the overall buyers during that month – that’s a lot of competition! Be sure to be ready if you want to have a new home in time for fall and the holidays!
Don’t let your perfect housing opportunity pass you by – stop into any of our three Atlanta offices today to learn about the various loan products we have available to tailor to your needs. From conventional to Fair Housing and Veterans Administration financing, we have plans for everyone and are ready to help you into the home of your dreams now.