It does not matter which market you are in, the economy is sluggish and the real estate market is unpredictable. But if you are in the market for a home, there are certain steps you can take to overcome the disadvantage. The most important thing is to ensure your capital, credit and employment are secure and in good standing. After that it is all about locating the right property for the right price, working with the best real estate professionals, and researching the community. If you pay attention to what you need and how your new community operates, you will have a good chance of finding the ideal home.
Real Estate is in an insecure position. If you want to invest, it is important to have the appropriate income, credit and job security. If you have these in place, there are many deals to be had. If a potential investor is not yet ready on this front, now is not a bad time to sit and do research. Watch the market, see how others invest, and then, when the time is right, make the best move you can.
The market isn't providing the best timing for Gellerstedt. He takes the helm during the nation's worst real estate downturn in at least a generation.
While the market is showing some signs of improvement, it has nosedived from its peak in early 2007.
Cousins has one of the four new office towers under development in Buckhead, a part of the city that absorbs about 350,000 to 500,000 square feet of office space annually.
Office vacancy in Buckhead could surpass 30 percent by this time next year, some commercial real estate developers and brokers predict.
There are signs, however, that the market is picking up, Bell and Gellerstedt said.
For one, the gap between what investors are willing to pay for properties and what owners are willing to sell them for continues to shrink. While that spread was 400 basis points a few months ago, it is closer to 100 points today, Bell said.
Also, banks have a clearer picture of their capital levels than they did earlier this year, and regulators are increasingly pushing them to deal some of their real estate owned assets.
So there you have it, Atlanta is in an interesting position. When the time is right, invest. If it isn't time yet, do research and watch how others react.
Michael Russell writes about a variety of subjects. This article discusses
Atlanta real estate. For more information, visit the Real Estate Book.
