What Will the 2022 Atlanta Real Estate Market Look Like?
Posted by Hank Miller on
Although it’s become all too common to hear “…once in a lifetime” or “…once is a hundred years”; the 2020 market and most aspects of the 2021 real 
estate market could be described in those ways. No one anticipated the impact of Covid and the subsequent impact of billions in government subsidies. But now the brakes are being applied and economists wonder, what will the 2022 Atlanta real estate market look like? Something has to give...or maybe not. At this point in the '22 market (Mid Feb), nothing has changed. In fact, the tempo has increased ahead of rising mortgage rates, which are already a point higher than last year at this time. Just a month ago, we posted that home buyers will be frustrated, that's largely confirmed at this point.
Despite the…
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buyers are tossing off all constraints to "win" the beauty contest of buying a home. Appraisals below contract price will continue to be a challenge in 2022. Consider, appraisals this year will be using data from the already insane market of 2021 and many will still fall below contract. Remember, the buyer’s loan is based upon the lower of the contract price or appraisal. The appraisal contingency protects the lender – and indirectly the buyer – to ensure the home can be sold for at least the loan value. Buyers that waive or modify the appraisal contingency need to have cash on hand to make up any…
worth” will never end, because there is no standard answer. Sure the reflex text book answer is “what a buyer is willing to pay” but that’s hardly the complete picture. A home has a number of “values” and most are not tied to the buyers in the market. There is a best answer of course, it also happens to be the simplest one. Spoiler alert...it’s not what it sells for. This short clip provides a common sense overview, below that we get more into the weeds.
traditionally slow, the big influences on the market were inflation levels unseen in 40 yrs, supply chain shortages, labor issues and of course the rise and run of the omicron covid variant. That is best described as an endemic; like the flu it's evident that the covid situation isn't going anywhere. So despite all of that, we did have a 4th qtr housing market report for Atlanta and it read much the same as the rest of 2021; record low inventory and frustrated buyers. What lies ahead for 2022? Well we know rising rates; as this is written in mid Jan, rates are already up from a few weeks ago and they will…
across Georgia, flood control is a significant responsibility of theirs. Georgia Power is the largest non-governmental provider of recreational facilities in Georgia. Power generation is their key role and one that they do exceptionally well. In North Georgia, the Tennessee Valley Authority has influence over the lakes close to the Tennessee border, using them for power generation and flood control. All have a role when it comes to buying a lake home in Georgia.
record high inflation, planning at least three rate bumps for 2022. The prognosticators are out there already making bold claims; you can find the overt optimists and you can find the dark pessimists. So what's in store for home buyers and sellers that have to make a move this spring? Well given this environment, we’re not going to look much past the first quarter or so. Buyers will again be challenged and sellers will reap the reward…until they become buyers. As usual,…
Many variables influence the price of a home, size is one of the most influential. How many times is “price per square foot” referenced? Using price per square foot to value a home is unreliable, it is wildly inaccurate for multiple reasons. But it's accepted and big homes rule; you don’t typically see small homes at the top of the value range. Families are the…
and the foundation was failing in several areas, spectacularly so. Based on a thorough look around the entire basement and the site, two major issues stuck out: tree roots and very poor water management. Several trees are very close to the home and good sized roots were against the home in several areas, these are a constant source of pressure as the tree grows. Poor control of surface water is always a recipe for disaster; it's the cause of a multitude of issues. In this case, the two combined and the result is epic deflection of the walls in this foundation.
the most quoted "sources" when home values are discussed but it is so flawed that on any level, it cannot stand even the softest of challenges. In fact, price per square foot is so unreliable that it makes automatedvaluation models (think Zestimates) look reliable.