National Statistics from David Lereah, Chief Economist for the National Association of REALTORS states that 31% of the U.S. is still expanding in value while 69% is contracting in value.

Fortunately for the Atlanta area we are staying stable. Part of the reason for this is that we have added 60,000 new jobs to the market.

According to John Adams, real estate guru for the Atlanta Journal & Constitution, he agrees that the Atlanta area market is still in good shape, but if you bought a home in the last couple of years and you have to sell, your equity may not be as high as it would have been if you sold 3 to 4 years ago.

Here are the latest statistics for Fayette County from August 31 to September 30, 2006:
• Total Listings – 1,216
• Average Days on Market – 114
• 17% went “Under Contract”
• 13% were “Sold”

While this information is a little scary, we are not in a panic situation. But now more than ever, it will be an invaluable benefit to use a full service REALTOR in order to get the professional advice needed on how to “Position Your Home” in the market place. Fayette County real estate is experiencing stabilization. No matter what you think the value of your property may be the Appraisers may think differently.

As REALTORS we are facing this issue daily because Georgia is the #1 state for mortgage fraud we are seeing homes not appraising for the sales price.

Enlisting the services of a professional REALTOR will help guide you through the process of not only “positioning” your home but they also have the best tools to market your property accordingly and most importantly will be able to make a smooth transaction from contract to closing.

Statistics prove that homes are sold for more value and have shorter days on the market when using a professional.

Sue Monson is the Fayette County Board of Realtors President for 2006.

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