Amidst fears of a financial market freefall, the real estate market is emerging as a bright spot. Indicators are pointing to an end to the bust; in fact, real estate may be poised for a bounce.

While consumers are scrambling to diversify their saving and investment accounts and retreating from paper assets (e.g. stocks) into hard assets (e.g. gold), the savviest among them are looking deeper than morning’s headlines and realizing that real estate is a solid investment option in the current market.

Home prices have corrected and fallen back into alignment with historic trends. The inventory of homes for sale is finally shrinking from the June 2008 peak. Also, based on year-over-year comparisons, housing affordability is now higher than it’s been for the past five years. All signs point to the real estate market turning the corner. So for investors seeking a safe haven in this financial storm, housing emerges as a surprisingly good choice—an undervalued hard asset with upside potential.

After months of downward trends, one particular area that is experiencing a resurgence in pending sales is Dekalb County. Pending sales are up 21 percent from July 2007 to July 2008. In August, pending sales have surged 43 percent over the same time as last year.

Pending home sales measure the number of homes under contract but not yet sold. While all other benchmark figures for the metro Atlanta county area, such as inventory and prices, were down from last year, the pending sales numbers demonstrate that buyers are getting back into the game.

This is great news for the local real estate market. Read both of these articles in their entirety by clicking here: Surprising Safe Haven for Savings and Dekalb County Sales Taking Off.

On October 5th we hosted our 2nd Annual Pumpkin Festival! We had 100 pumpkins to give away, fresh (and yummy) Kettle Corn popping, candy, apple cider and Halloween tattoos for the kids.

Everyone had a great time. They said it was like going to a pumpkin patch, but better, it was FREE! We enjoyed catching up with a lot of people and meeting new ones. Thanks to everyone who stopped by. We captured some great photos! Click here to view the entire slide show of photos captured by Chrysan McCoin.

Be on the lookout for information about the next event, our annual Wine Tasting in December. We look forward to seeing you! – The Suits Team

Atlanta Botanical Garden
Scarecrows in the Garden: Oct 1-31 over 100 scarecrows are featured.
Activities in the children’s garden on Sat and Sun 10-4.
Fest-Of-Ale: Every Thursday 5-10
Goblins in the Garden: Sunday Oct 26 1-4. Costume parade, cup
cakes, pony rides & more.
Click here for more info!

Berry Patch Farms:
Pumpkin patch, hayrides and more!
Click here for more info!

Stone Mountain Park:
Dates: October 3 – 26 (Fridays – Sundays)
This fall festival has become a family favorite. Come experience
the all-new Sci Guys science show, find your way through Jack
Squash’s A-MAZE-ing Adventure, compete in the Pumpkin Pie Eating
Contests, enjoy fall arts & crafts, trick or treating and much more.
Click here for more info!

Atlanta Greek Festival:
The Atlanta Greek Festival brings all the aromas, sounds, tastes and
traditions of Greece to your doorstep.
LOCATION –
Greek Orthodox Cathedral
2500 Clairmont Road, N.E.
Atlanta, Georgia 30329
Exit #91 off I-85
Click here for more info!

Bottoms of real estate markets never annouce themselves with fanfare. Economists generally only determine the exact bottom long after the market has sharply rebounded. My prediction is that when the dust finally settles, the experts will look back on the time period between now and the presidential electionas the best time to have purchased a home.

Why is this the case? There are several interrelated reasons. The first is that the housing market in the metropolitan Atlanta area is far healthier than most housing markets in the United States. We’ve seen some price reductions in housing but nothing comparable to other parts of the country. With our region’s population increasing by 150,000 people per year, prices can only go so low because demand is constant. It is a nice cusion to have.

Second, for the moment, the Federal Reserve (FED) is more concerned about encouraing growth than controlling inflation. Don’t expect this to last. If inflation remains high, look for the FED to start raising rates right after the election. This, along with the turmoil in the secondary mortgate market, is likely to drive up mortgate interest rates. This will make the effective cost of housing much higher than it is now even if prices continue to fall somewhat or remain flat.

Continue reading this article by click here.

Source: Atlanta Life Magazine, Seth Weissman / September 2008