What will residential real estate look like for the remainder of 2020 into 2021?
That's crystal ball stuff but let's talk about the possibilities. Right now, whether for the election or seasonal changes that we can see each year at this time. The metro Atlanta area, and specifically Cherokee, has a strong market even with activity slower than earlier this year. Even with Covid, it's been a very good year to sell and buy. The great unknown is how many people entered into forbearance plans who will not be in a financial position to catch up those missed payments and may go into a foreclosure situation. That's the big question. There is no available data at this time that I am aware of that can give us solid numbers in that regard. After the 2008 crash the financial system was beefed up to prevent the massive losses and effect on the market that we experienced at that time. So, the feeling is that if we do have a flush of new foreclosures, it won't be as much as during that post 2008 crash, nor have the same effect on housing values that took place after 2008. The hope is that we begin to see more people getting into the market to sell so that the inventory situation we have here now, which is painfully short, is relieved, which makes the market better for all. If you are considering selling and/or buying, give me a call. Let's discuss your particular situation and make a plan that works best for YOUR situation.