Prices are up. Time on market is down.
There are opportunities both on the buy and sell side of the market. Time for a checkup on your real estate strategy?
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).
Elf (Not now, Arctic Puffin.)
Four Christmases (Mistletoe!)
Bad Santa (Do you want some sandwiches?)
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.
I tried to keep this as brief as possible, but there is a lot of information to cover for a comprehensive look in a six minute video. If I moved too fast or if you have questions, I’d love to hear from you.
Inventory continues to be constrained and the market is still very competitive for properly priced homes.
Just a quick update for YTD market stats in Atlanta. Thinking of buying or selling? Opportunities abound.
Inventory is still low and properly priced properties in great condition move fast, but there are deals to be had.
Thinking of selling? The upward sales price trend has flattened somewhat heading into the late summer. Its impossible to precisely time any market, be it real estate, stocks, or virtual currency (get at me, Bitcoin millionaires). If the time is right for you and your life situation, the market is still at its highest level in years.
Time to buy? The right home is out there. Low inventory just means I have to work a little harder to lock it down for you. That’s what I’m here for.
Its important to be honest with yourself, and with potential buyers, about how many functional bedrooms your home offers. That 10 ft x 10 ft attic expansion with no closet, or the dark basement room with no windows and the nearest shower access 2 floors away that you are marketing as an extra bedroom may be turning off more buyers than its drawing in. Presenting the features of your home in the best light possible is an elementary and bedrock principle of marketing your property. However, this must be done in an accurate and honest manner.
Imagine a qualified buyer who has a legitimate need for three functional bedrooms comes to view your home. This person has spent his or her valuable time to show up and evaluate your property for purchase. If your home is not what was represented to this buyer in the listing information, you have wasted their time, their agent’s time, and quite possibly your valuable early days on the market by trying to sell your home to the wrong buyer. This example of a potential buyer was never going to make an offer on your house because it did not meet their needs. You have now created two unhappy and dissatisfied parties who could spread negative information through word of mouth about your home while it is listed for sale. The better choice would be to market your home to buyers who are open to a two bedroom house with space for a home office, creative space, or bonus room.
A common must-have from clients looking to buy in the city is the ability to create a functional home office. Many of the older houses in Atlanta have unique small spaces that were created or have accidentally emerged from decades of remodels, rehabs, and expansions. That small room in the converted attic space that people weren’t quite sure what to do with in the past (and often ends up being added to the listing as an additional bedroom) has suddenly become much more useful and marketable as technology has evolved and the only space many of us need to work is somewhere to sit with our laptops and a smart phone. There is no shame in playing to this strength and getting a premium price for your home by offering this functionality to the correct buyer.
Trying to sell that space as a bedroom may be a mistake that could cost you more money and time on the market than it gains you. Is a bedroom more valuable than an office? Yes. But if you don’t have a third bedroom, you don’t have a third bedroom. The market will punish you for trying to sell something that just isn’t real.
I see this while showing homes with unbelievable frequency. Walking through an open house in a renovated older home listed as a three bedroom where potential buyers are milling about and commenting that “oh, this is really a two bedroom. I couldn’t use this space as a bedroom” as they walk right out the door makes me cringe for both the property owner and the other agent. You will command the highest and best price from your property from the market by working with me to target the right buyer and presenting your home for what it truly offers.