Forbes lists ATL among the worst real estate markets

[jln69]

The market doesn't seem that it is doing all that bad to me down there.
We just lost a home yesterday because there was a bidding war and they other party paid over asking price. Given the state of the economy and RE could go either way right now even in good markets like we've been having here in NC, we were not about to overpay the way things are right now.

Oh well. We will find another home. The spring market is just beginning. We were so excited because we sold our home in NC and were headed down with everyone in tow to find a home. The funny thing was that we all agreed on this home. Of all of the homes that we saw, everyone said this was the one. Guess it turned out not to be the one afterall.

[NYLATINQT]

I totally disagree with that article. Atlanta is still pretty stable unlike places like CA, FL and NV where home values are dropping in the double digits. I do believe that there is too much new construction and somebody needs to regulate that and stop handing out so many building permits. But in general, i think Atlanta is making out fairly well while this country rides out the mortgage storm.

[ready2move]

Originally Posted by Love Cobb

I agree homes appreciate pretty slow here compared to other areas of the country.

And that's a good thing. That was Florida's problem..the houses appreciated way too fast and way too much. Example: we bought our home in 1992 in an extremely desirable school district for 140,000.00 The house was really nothing special. We sold December 2007 for 463,000.00. If we had sold in the height of the market could have sold for 500,000.00. I WOULD never pay 463 for that cookie cutter house. It totally was not worth it. The house is now valued roughly at 358-385. and the people that bought our house financed 100%. Hope they are not planning on selling any time soon