Exposing the Get Rich Quick Scheme of Short-Term Rentals 

Companies like Airbnb and VRBO have paved the path for centralizing short-term rentals. While they have been a hit since their inception, Covid propped them up like a golden child. Over the past 2 years or so, the short-term rental market has exploded. Many areas experienced a price increase that more than DOUBLED due to a huge demand for short-term rental homes—Areas such as 30-A, Blue Ridge, and Gatlinburg.  While certain areas will maintain a sustained level of demand, the numbers are starting to trend down. Part of the issue is the sheer over supply of short-term rentals. It became the popular investment during covid that everyone and their mother thought they could get rich running an…

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The Age Old Question-Do I Buy Now or Wait Until Pricing Drops?

DON'T CLICK OFF TOO SOON, I AM NOT GOING TO BLABBER ABOUT "MARRYING THE HOUSE AND DATING THE RATE". I WOULDN'T DARE BE THAT CLICHE. LET'S BE HONEST, THAT SAYING LEAVES A LOT TO BE DESIRED....

As tempting as it is to anticipate a pending crash in hopes to get a screaming deal. The reality of that happening is quite low, at least where we are positioned in Atlanta. A correction will happen, matter of fact it already has. Most markets around the U.S. are down anywhere from 6-10% off peak pricing. This is primarily because of interest rates leading to lower buyer demand. So, the question remains, can the market drop more? OF COURSE, IT CAN. However, If inflation keeps coming in lower and…

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Inflation comes in LOW compared to expectations. this is why It's awesome for real estate.

The Inflation report is out for the month of October. The expectations were 7.9% YOY, 0.6% MoM CPI, & CPI Core 0.5%. 

Traders work on the floor of the New York Stock Exchange

We beat expectations with 7.7% YOY, 0.4% MOM CPI, and 0.3% Core CPI. This is GREAT news and collectively, so, markets rallied Thursday & Friday. In addition, the 10-year treasury fell 30 basis points to around 3.8% *This directly affects mortgage rates*. I got reports from lenders that rates had come back down to the low sixes after this news. 

This is great news for real estate, if we can sustain this rally. Markets are going to be hesitate until we see this trend continue. Most likely, after this month's CPI report comes out December…

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October Market Data Is In....BIG MISS

The October data is in. While everyone thought this month was going to be a bloodbath, the numbers show a different story. A decline, yes, but a fast-crash, not right now. Let's dive into it. We're going to look at it from two different angles. Month over Month and 10-years back.

*This data is representative of residential "detached" properties in the 11 metro Atlanta counties*

Month over Month

  • Number of Active listings dropped slightly, from 11,513 to 11,063
  • Median Closed Price held stable, $417,490
  • Days to Sell (Median) held stable at 15 days
  • Months of Inventory increased from 3.5 to 4 months 

Overlook, 10-Year Charts:

 


Not only did we not crash and burn in October, we seem…

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