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Buckhead is poised to make a real estate turnaround. But it still requires months of hard work and smart decisions. If the market is to rebound, real estate investors need to be practical and insightful. They need to asses their personal capital, address issues with their credit, and ensure that their income is secure. To do this, working with a trustworthy realtor, or being well versed in the local market helps. In today's temperamental market, the best policy is preparedness and transparency. If done correctly, cities across the United States will begin to pull out of the global credit crisis. Should this happen, the rental market will turn on its heels. n Buckhead, the average sales price has tumbled 21 percent to $409,000, according to the report. Only 11 new condos sold in the first quarter, compared to 50 in the first quarter of 2008, and resale closings were down by 25 percent, from 205 sales to 153, when compared to the same period last year. Despite an overabundance of condo inventory, the speed at which units sell has a big effect on the supply estimate, said Jim Grissett, an adjunct professor at Emory University and investment adviser who specializes in real estate. If condos were selling faster, even with the same number of units on the market, he said, the estimate would be different. “The trick becomes identifying the best denominator for that calculation,� Grissett said. “Using the most recent month’s sales rate in a slow market like today’s can make things look worse than they are.� A similar supply situation exists in the Midtown, Atlantic Station and Virginia-Highland areas, according to the Coldwell Banker report. There is approximately four years worth of new or conversion inventory in those areas. Recent new condo auctions in the area helped stimulate absorption, with nearly half of the 74 closings in the first-quarter going to the bargain seekers. Nearly 200 condos were sold in the first three months of the year, but resale of condos still declined 33 percent and the average sales price dipped 8 percent, to $195,502, compared to the first quarter of 2008. More condos, new and existing, were sold in Intown (266) than in Downtown (79) or Buckhead (164) in the first quarter, the report said. So there you have it, the news might not be good for condo sales. But it is promising for renters. The more you know about a neighborhood like Buckhead, the better off you will be. And if you are planning to look for an apartments, be sure to use a rental service company. It's the only way to move.About the Author:

Michael Russell writes about a variety of subjects. This article discusses Buckhead apartments. For more information, visit Promove.

Article Source: ArticlesBase.com - Buckhead Apartments | Moving when the Economy is on Hold