Be present in the moment and enjoy the time with your friends, family, and whoever else makes the list of who you love this holiday season. For my crew, this is also the time of the year that we enter the month long marathon of watching our favorite holiday films. For the adults in my house this means:
Die Hard (Its not Christmas until Hans Gruber falls from Nakatomi Tower).
Love Actually (Oooooo… Would we call her chubby? RIP, Alan Rickman)
My kiddos aren’t quite old enough to pay attention through a whole movie just yet so they’ll make due with some periodic exposure to Rudolph and Frosty.
With market activity slowing heading into December and current sellers getting anxious about whether their house will sell before the clock runs out on 2017, its arguably the best time of the year to get a great deal on a home. Avoid the mad rush and bidding wars that chronic low inventory is going to bring in the spring. Call me today.
Also- We have a new website/search platform going live in a few weeks. Check it out at scott.viewhomesforsaleatlanta.com . Register, play around with it, and let me know what you think.
The Atlanta Metro Real Estate market is currently at low inventory levels. Fairly priced and affordable properties in good condition and in sought-after areas are often under contract within 24-48 hours.
We all want the deal of the century, right?
Nobody faults you for that. If you are dead-set on submitting a low-ball offer on a sought-after property in this environment, you must also be willing to walk away from the property if and when your bid is not successful. If you fell in love with the home and just assumed that you’d start low and come up if the seller didn’t bite on your first offer, you may be blindsided when they decline to counter and take an offer from another client while you are stuck considering your next move.
Hypothetically, let’s say you were trying to buy a well-appointed two bedroom condo in Midtown that just listed today for $350,000. No savvy negotiator pays full ask, right? Conventional wisdom and tradition tells us that list price is the starting negotiation point. So, you decide to open with an offer of $335,000 and see if they bite. Closing costs are expensive as well, so lets ask the seller to cover $6,500 of that and just see what they say. You’ve essentially made an offer that nets the seller $328,500. In a slower market, or maybe if the property has been sitting for a month or so, I wouldn’t necessarily advise against this strategy. In this example, that just isn’t the case.
Many times, this is what actually happens:
Another buyer looking at the same limited inventory in your price band and location goes in to view the property a couple of hours after you. They are also interested and have been looking at properties for weeks. They, unbeknownst to you, have the benefit of experience on their side. They have already lost out on two homes they loved because they were crowded out by stronger offers. They have impeccable taste, just like you, and also decide the property is suitable and decide to make an offer. Their agent calls the listing agent, who communicates that the seller is currently considering another offer on the property. Not wanting to lose out and waste more time searching, they submit an offer at $348,000 and ask for no concessions for closing costs.
Many sellers choose not to start a round of multiple offer/highest and best bidding in this situation. The reality is, the seller has two offers in hand and are quickly burning through their valuable first days on the market. Your offer is currently $19,500 lower than the other buyer’s. The seller does not want to risk alienating or scaring away the stronger offer with additional negotiation on the off-chance that you’ll increase your offer $20,000 just to compete. They accept the other buyer’s offer, and bid you adieu.
Fine, right? You win some, you lose some. We’ll try again on the next property…
Here is where I am going to get a little “meta”: Are you now chasing the market up?
Lets say this condo is in a high-rise development. You love the amenities (Hnnng…that pool is sexy, right?) and location and you really want to get a unit in this building. The neighbor down the hall from the one you lost out on owns a unit with the same floor plan. They noticed the unit listed for $350,000 and decide its time to sell. Just like you want the deal of the century, owners want the highest price for their property the market will support. They decide to list their home at $360,000… Assuming that this property is comparable to the original one, what do you think you would decide to offer? You’ve now placed yourself in a situation where you may be “chasing the market up”. You get the idea? Starting to feel a little like Bill Murray in Groundhog Day?
If you are home shopping in a highly competitive environment and think you have found “the one”, my advice is to make the strongest offer you are comfortable with and willing to commit to as soon as possible.
One of the things I love most is introducing out of town guests to the eclectic neighborhoods in our city. The usual tourist spots like the World of Coke and the CNN center are always an option, but I tend to plan our itineraries around three types of activities to give my friends and family the best Atlanta experience. I like to include a park, a museum or historical tour, and a brewery over the course of a couple days. These are my top four favorites in each category:
Atlanta is home to some awesome parks. From playgrounds and picnic tables to walking trails and free concerts, there are a lot of options to fit the personalities of your guests. These are a few of my favorites:
Piedmont Park: Piedmont Park has it all…lake, pool, playground, splash pad, green market, dog park, jogging track, green space, picnic tables, charcoal grills and public restrooms. I’m a little biased since I lived next to the park and enjoyed this space every day for several years, but this park is a great spot for guests. The park also offers free historical walking tours every Saturday at 11 a.m. And there are restaurants within walking distance, so if a picnic isn’t your style, you have food options close. One of the things that I love most is heading to the park in the late afternoon and staying for the free concerts on Sunday evenings at Park Tavern. The concerts typically run April through September and start at 7 p.m.
Sidney Marcus Park: Sidney Marcus Park is a perfect place to bring guests with kids. The park is tucked away in the Morningside neighborhood and has great green space and playgrounds. There are picnic tables and it offers a free family-friendly concert series several Friday evenings throughout that start at 6 p.m with music, food trucks and a favorite Atlanta treat, King of Pops.
Old Fourth Ward Park: Old Fourth Ward Park has really grown over the past few years. It’s a kid’s dream. The playground is fantastic and there’s an awesome splash pad and skate park. There are also some free events throughout the year like exercise opportunities and free movies on the lawn. This is a great spot for out of town guests because it’s right across the street from Ponce City Market which offers lots shopping and restaurants.
The Atlanta BeltLine: While this isn’t a park in and of itself, the BeltLine is an awesome trail that connects many of our in town neighborhoods and parks. The BeltLine provides a great activity for guests that like to walk or bike. You can walk from Piedmont Park to Old Fourth Ward Park and head into Inman Park or over to Krog Street Market. There is a lot of shopping and restaurant options along the way, which makes the stroll even better.
Museums and Tours
Our city offers quite a few museum and tour options. These are just a few that make my short list when I’m planning for a guest visit.
Oakland Cemetery: Oakland Cemetery is my number one spot for out of town guests because it’s different from the typical museum stop. This cemetery has incredible history and beautiful architecture. I highly recommend a guided tour where you will hear stories about the people that are buried in this rural garden cemetery. I’ve done this tour several times and it’s always a little different, so continues to be one I enjoy. They also have some cool events like malts and valts where you can hear about Atlanta’s history of brewing then enjoy some local beers after the tour. We typically round out this visit with a trip across the street to Six Feet Under for food and drinks.
High Museum of Art: If you have art-lovers visiting, the High Museum is the perfect place. There are some free admission opportunities, which makes it an even more awesome place to take people. Free admission is offered to everyone the second Sunday of each month as part of their ‘Family Fun at Woodruff Arts Center’ promotion and there’s family-friendly programming from 1 – 4 p.m. Bank of America/Merrill Lynch customers have an additional no-cost admission opportunity with free walk-up admission on the first full weekend of each month. There are a lot of family extras, but if you want to leave the kids at home, the third Friday of each month is ‘Friday Jazz’ with drinks, music and art.
Atlanta History Center: One of the great things about buying a ticket to the history center is that it’s much more than just the one museum. You also get access to some really cool historical houses like the Margaret Mitchell House, the Smith Family Farm and the Swan Coach House as well as 22 acres of gardens. Even better, if you are a Bank of America Bank of America/Merrill Lynch customer you can receive free admission during the first full weekend (Saturday and Sunday) of every month (offer expires December 31, 2017). You can also dine at the Swan Coach House Restaurant, which has some delicious Southern dishes and sandwiches.
As a beer aficionado, I love introducing my guests to the local breweries. Who doesn’t love a tour that revolves around drinking beer? These are my favorites:
SweetWater Brewing Company: Sweetwater is a staple in our town, so I enjoy taking people here. It’s a decent size, so good for crowds and they often have entertainment in their outdoor space. They are open Wednesday through Sunday. If you want to eat while you are there, Friday-Sunday are the best options because a food trucks are on site.
Three Taverns Brewery: Three Taverns has some of my favorite local brews. The space is on the smaller side, but the tour and beer are great. If you want to spend time with your guests in Decatur, this brewery will fit perfectly into your itinerary.
Orpheus Brewing: Orpheus beer is awesome and they are located right next to Piedmont Park and the BeltLine, so if you plan to take a stroll before or after, this would be the perfect stop along the way.
Monday Night Brewing: Monday Night is another favorite. The space is great and large enough to fit a big crowd. The outdoor space has good seating as well.