Atlanta housing market presents more than meets the eye
Take a look at the homes for sale in Atlanta for an opportunity to receive a great value on a property. Recent real estate data suggests the current local housing market presents plenty of chances to acquire an affordable house.
Time Magazine reports that Atlanta is one of several housing markets that has delivered positive signs in the past few months. The May 2012 Standard & Poor's Case-Shiller Home Price Indices, a measurement of home prices in major metros across the United States, revealed that home prices dropped 17.7 percent on a year-over-year average in March 2012. Meanwhile, the city displayed a 0.4 percent drop in home prices between February 2012 and March 2012.
However, the Case-Shiller data includes homebuyers who use subprime loan financing to purchase a property. This type of allowance is often provided to people who are ineligible for prime rate loans, and feature a higher interest rate than traditional options.
Buying a house in Atlanta might be easier than ever, as many lenders are offering 15- and 30-year fixed rate mortgages under 4 percent.
"For those homeowners that are prepared, this is an opportune time to pursue homeownership," Michell Mapp, executive director of the North Carolina nonprofit organization Lowcountry Housing Trust, told Mortgage Daily. "Lower rates combined with lower home values creates an environment for many young families and first- time homebuyers to purchase a home instead of renting."
Review the historically low interest rates on home loans when considering houses for sale in Atlanta.