Blue Ridge GA Real Estate Outlook - North Georgia Home Value in 2012
The value of homes in 2012 will be a hot issue throughout the nation, even more so here in North Georgia. As every New Year begins, people often wonder what home values will do for the 12 ensuing months. Given the recent trends in North Georgia real estate, there’s should be a reason to think 2012 could bring some value.
Since the economy was affected heavily a few years back, the housing market has certainly been hit nationally, as well as locally. Local values were dropped by a heavy percentage and while some have been in a better position, for the most part the area has seen decreasing value in the real estate market.
Luckily, there is a boon of good trends that point to what could be a strong year for the North Georgia real estate market. Apartment rental averages continue to climb all over the state of Georgia, from the top to bottom and that’s no different here locally. Apartment rental averages in North Georgia went up about six percent; compare that to Atlanta which went up six percent and Savannah apartments which went up nine percent. If these rates continue to grow, it would certainly swing potential buyers back on the market, climbing the property ladder.
Record low mortgage rates throughout the country and locally are another sign that buyers could have vested interest in 2012. Compared to the mortgage rates of 2010 and 2009, this year’s costs will be a quarter lower than those times. Experts expect more buyers to be out looking for houses, the key will be closing.
Nationally, real estate experts are expecting a slow climb throughout the 2012 year. Each month is expected to have a positive impact on the real estate market, up until the fourth quarter, which is usually a slow period for home sales because of holidays and vacations.
Certainly each area in North Georgia will have a separate fortune in 2012. Indicators and factors such as price averages, amount of listings and individual sales will continue to be the driving force if the market is to get some rejuvenation this year.
This Blue Ridge GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY Georgia Properties located in the quaint mountain town of Blue Ridge, GA. Please feel free to call (866-413-1781) or drop me an email gaylebarton@inbox.com if I can assist you with buying or selling your Blue Ridge GA mountain home or property.
