If we are going to discuss our market and their health, more real estate professionals are going to have to understand the economics that drives them. Numbers of sales does not necessarily mean that things are back to normal. A recent sale here in the Atlanta real estate market shows that homes are selling quickly, but they are selling for 250K less than they were a few years ago. So it isn't good news if you are selling and taking a 150K hit in real equity. In short less money is being created for less parties, and that means there is less to go around and spread the real wealth. My idea of wealth creation is not paying off TARP money via a foreclosure or distressed sale.
James Crawford ABR, Broker Associate
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