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Archive for the 'Selling Your Home' Category

9 Reasons why it’s time to move, in any economy

Categories: Atlanta Real Estate News, Buying Your Home, Selling Your Home

 It’s easy to understand why people think nobody is buying or selling a home right now…that’s all they hear from the mass media. However, the truth is, homes are selling. Just because we are experiencing a shift right now, both with the economy and in turn, the real estate market, this does not negate the fact that Americans are still living, breathing, constantly evolving human beings. Because circumstances are always changing within our lives,  there will always be a need for people to move, in any economy. Just to jog your brain, here are the top 9 reasons why it’s time to move…

• Home is too small / too big 
• Job transfer / Relocation / Shorten commute 
• Personal Relationship: getting married / divorced
• Lifestyle change: City life / Country life / Social Clubs / Neighborhood amenities
• Education: School districts
• See family more often / less often
• Finances: Cash in equity / Short sale
• Health concerns: physical restrictions / assisted care
• Empty nest/ Retirement / Downsize / Travel

Contact us for a free consultation to see if the time is right for you to make a move!

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Don’t miss out with a buyer…curb appeal is critical

Categories: Selling Your Home

Even though it just snowed here in Atlanta yesterday, Spring is just around the corner and I can not wait! The forecast for this weekend is 71 and sunny…sounds perfect. With the great weather coming, that means more people will be out and about which in turn means more people will be out looking at homes. Great news for sellers! And more so than ever, curb appeal will play an important role. With inventory high, potential buyers are weeding through on line pictures of the homes they put on their on list to see in person with their Realtor. All buyers want to know the home they are buying has been well kept. This is why first impressions with curb appeal are so critical.If your home is currently for sale, and perhaps needs some TLC to help its curb appeal, pay close attention to the following…

Give your house a little pop quiz, just as a buyer would:

What is your first impression of the exterior of your house? and the lawn? What are the best exterior features? And which are the worst?

Next, make a list of the problem areas you discovered. First handle all the safety, clean up and repair items. Check this list to compare against the exterior of your home.

• Kill mold and mildew on the house, sidewalks, roof, or driveway 
• Clean windows and gutters
• Pressure wash siding, deck, porch, sidewalk
• Mow the lawn, edge the sides, and remove the weeds
• Free the lawn of leaves
• Store lawn equipment out of site

Once the maintenance items are complete, then move onto some projects that will help to make the grounds more attractive and command value for your home. Depending on your time, budget, and amount of elbow grease you have, consider these projects:

• Outdoor lighting 
• Fresh paint
• Replace hardware on the front door
• Add to the landscaping: new shrubs, trees, plants, flowers - or perhaps just the opposite is needed, too by removing dead trees or excessive shrubs, etc.

Judging a book by its cover is just like a buyer judging a home by its curb appeal.

Good luck and happy selling!

 

 

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How to get your Atlanta home sold…Sadie Hawkins style

Categories: Selling Your Home

Probably everyone has a memory, fond or not so fond, of a Sadie Hawkins Dance they attended some time in their youth while attending school. (For me, it was a country square dance but that’s a story for another day.)  In our society, it is customary that the man asks the woman, however, according to Sadie Hawkins,  the female asks the male…in a word, it means role-reversal. Just as it is customary in real estate that the buyer asks or “makes the offer” to the seller, but where is it written that this is the only way to practice real estate?

If you are tired of being the shrinking violet in the corner, do something about it.

How about a little Sadie Hawkins Real Estate Dance? As the seller, why not draw up a Purchase and Sales Agreement to the last 5 potential buyers that saw your home? You know by the mere fact that they took the time to see your home that they liked it. The problem is, they didn’t like it enough to make an offer. So you be the initiator.  Maybe from their feedback you know that they really didn’t care for the wall paper in the kitchen - put that in the special stipulations that you’ll remove the paper and paint it their color of choice. Or that the avocado carpet is really worn - offer to replace it. Perhaps you have been considering reducing your price - put the ’sales’ price in as an incentive for them to buy.  Only you know your level of motivation and what you are willing to do get your home sold. Put that information on paper. It may be exactly what helps that buyer chose your home over the one down the street.

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Homes for Sale in Atlanta Dunwoody

Categories: Absorption Rate, Atlanta Real Estate News, Buying, Buying Your Home, Market Conditions, Recent Home Sales, Selling Your Home

Market Conditions 

Currently, as of November 7th, 2008, there are 161 homes for sale in Dunwoody, GA.  They are priced between $1,275,000 and $225,000. Clearly there are many choices for buyers. Considering that 27 homes were sold last month, October 2008, in Dunwoody, it will take between 6 to 9 months for the current inventory to be depleted. However, with new listings coming to the market, representing even more competition among homes for sale, it is likely that it will take 12 to 15 months for today’s  current inventory to be absorbed.

What does this mean to Sellers?                                          

To help secure that you will be one of the homes that receives an offer, make sure your house is in top showing condition.  In order to receive an offer, your house must be the best home that a buyer will see. Beyond keeping your home super clean, prepare your home so that is a memorable experience for your potential buyers…and I mean memorable as in terms that it will stand out to a buyer in a good way…

• One simple and cost effective way is to the bring the outdoors in…take advantage of the beautiful fall colors - place some small tree branch trimmings in a  vase - adding this color will create a warm and inviting center piece for the table…and don’t forget to hang a wreath on the front door - this says ’welcome’ to your guests!

What does this mean to Buyers?

Likely that you’ll see more than one home on a showing tour and chances are that you may have a harder time than you expected in remembering what each home was like.  Here’s one way to help: when out seeing homes, keep a clip board with the MLS print outs, and after you’ve walked through, take a quick moment to write some notes to help jog your memory for the end of the day recap. 

• And even though it is a wonderful to time to buy a home during a Buyers Market, have realistic expectations. Yes, you may be able to have your cake and it, too, but be careful about asking for the ice cream on the side. You don’t want the other party to dig their feet into the sand. Remember, for a negotiation to be successful, both parties must feel as though they’ve won.

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How to Sell your House in a Buyers’ Real Estate Market

Categories: Atlanta Real Estate News, Market Conditions, Selling Your Home, Why Buyers Buy

Here’s what it takes to sell your house…

Adjust your mindset:

• Realize that you are no longer in a Sellers Market and you must adapt in order to get your home sold.

It wasn’t too long ago that having the best home on the block meant that you would get the best price on the block, too.  Not so in today’s Atlanta real estate market.  Having the best condition and location are still very important, however, no longer do they equate to getting the best sales price.

Understand the Buyers’ Psyche:

• Buyers want the same for less, or, they want more for the same.

Plain and simple, Buyers have many homes to chose from in today’s market and yours must stand out amongst the competition.  How do you stand out? By giving the same for less, or by giving more for the same. Take a critical and honest look at your home’s condition and location, then price accordingly.

In a Sellers’ Market, Buyers tend to be emotional about a house.

Conversely, in a Buyers’ Market, Buyers seem to be logical about a house.

What makes a person decide to buy a home?  The number one reason is that they are afraid they’ll lose it. It will be gone. Sound crazy to you? Take a look at my argument and you’ll see that it works for both a Sellers Market and a Buyers Market…

In a Sellers’ Market, not much inventory exists and it is common to have multiple offers on the same property. When a Buyer finds a property that meets their needs and desires, they will do what it takes not to lose it. Emotion drives the Buyer and even if it means a bidding war, and, perhaps over paying, they’ll do it so as not to lose the house.

In a Buyers’ Market, a lot of inventory exists. A Buyer will typically see 3 or 4 times more the the amount of homes they do as in a Sellers Market. A Buyers’ Market Buyer, otherwise known as a Seymour as in see-more, is driven by logic - he wants to see everything, know everything, research everything. He will know the market like the back of his hand. He is waiting for the right house. He is reluctant to buy until he finds the one  and the only way to ’capture’ a Buyers’ Market Buyer is to give him what he is looking for… the same for less, or, more for the same …making him feel that your home is such a great deal that he’ll likely lose your house to another buyer. That it will be gone. That scares him. Logic says this a great home at a great price.  Emotion kicks in and will tell him he must make an offer so as to not lose your home.

Even in a Buyers’ Market, fear of loss is the still the number one reason why people buy. Make your home that compelling case where both emotion and logic win.

 

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Atlanta Real Estate Market Absorption 12 - 16 months

Categories: Absorption Rate, Atlanta Real Estate News, Buying, Market Conditions, Selling Your Home

 

The Atlanta Real Estate Market has historically been a SELLERS’ Market. It could be said it’s been a strong SELLERS Market for about the last 10 years, that is up until the shift. It’s been a shock to many Atlantan home owners who are selling in a BUYERS’ Market. How did this happen? The answer, in two words or less…market absorption.

Market absorption measures the number of properties currently on the market and the average market demand…how long will it take to deplete the inventory of those properties. The absorption rate is a simple equation that holds volumes of information for both Sellers and Buyers.

To learn the Absorption Rate… 

1. Determine the rate at which properties are selling: Properties Sold in Previous Year / 12 months = Monthly Absorption Rate

2. Take a snapshot of current inventory based on that rate: Properties Currently For   Sale / Monthly Absorption Rate = Months a Typical Property Will Take to Sell

How is the Real Estate Market defined?

• SELLERS Market ‹ 5 months of inventory

• Transitional Market ≤ 7 months of inventory

• BUYERS Market › 7 months of inventory

Currently, metro Atlanta has between 12 and 16 months of inventory. We have more supply than demand and that makes us officially in a Buyers Market.

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Atlanta Homes and Resale Value… Power lines are a definite NO

Categories: Atlanta Neighborhoods, Atlanta Real Estate News, Buying Your Home, Resale Value, Selling Your Home

As Atlanta Real Estate Agents, we represent Buyers. We help them find their home of choice. And manage all the details of buying their new home in Atlanta. One item that we always consult our clients on is resale value. According to the national averages, single family home sells every 5 to 7 years; thus, resale is an important consideration My husband and I were discussing this topic the other day and decided to make a list of the top 3 items that hurt the resale value of homes in Atlanta. They are as follows: Read the rest of this entry »

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Top 3 Reasons to get a Home Inspection

Categories: Atlanta Real Estate News, Buying Your Home, Selling Your Home

Buying a home is a big investment, precisely why it is of utmost importance to have it inspected by a professional home inspector.  (So what better way to multi task during a home inspection as a Realtor is perhaps to blog about it).  I immediately tapped into the home inspector, and according to Eric Pierce with Home Probe, an Atlanta based home inspection company, the top three reasons to have the home inspected are as follows: to learn of any safety issues, to discover any defective items, and to gain information on how to maintain the home once you own it.

Even the most the most well maintained homes seem to always have items that make it to the inspector’s list. Some items large, and some items small. Most concerning items are ones that are related to the foundation or structure.

One item that is hitting every home owner selling their property in Dekalb County is low flow plumbing. A new law states that any house built before 1993 and sold will have to have low-flow toilets that consume 1.6 gallons of water or less per flush in order to have public water to be turned on in the new owner’s name.

Low-flow toilets became mandatory in new construction around 1993, so homes that were built after 1993 are not affected by this new ordinance. The county still has as many as 165,000 houses built before 1993, but it is unclear how many have been upgraded with toilets that use less water. The low-flow requirement is one thing that Dekalb County is using to cope with the drought in Georgia. http://www.dekalbwatershed.com/index.html

Just like you may not exactly look forward to seeing your physician for your annual exam, it is necessary in order to stay healthy. Same with your house and its exam. You may not exactly like to hear that the electrical outlets are not up to code or that the motor in the attic fan is broken. Or that you are now going to be required to buy low flow toilets. In the end, a few repairs and or replacements of said items will help to get your home to settlement.

A good healthy home gives peace of mind.

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Dunwoody Real Estate Market no longer held hostage to School Redistricting…

Categories: Atlanta Neighborhoods, Atlanta Real Estate News, Dunwoody, Relocating, Schools, Selling Your Home

The decision has been made! All current elementary school attendance lines will remain the same as they are today. There will be no redistricting. The Board has another solution for the overcrowded Dunwoody elementaries.

Writing from the perspective of both a Dunwoody parent and a Dunwoody Real Estate Agent, I think this is great news. As a realtor, over the last year here in Dunwoody, if it wasn’t the first question that buyers would ask, it was the second question - “What elementary school does this house feed to? ” As soon as I would answer this question, the buyers would then immediately follow up with this question “Are these the old lines or the new redistricting lines?”.

Buying a home is a big purchase. It’s not like going out to the mall and buying a pair of shoes. Don’t get me wrong, I like to buy shoes, what woman doesn’t? But a little more thought and consideration goes into buying such a huge investment. Finding the right home is tough enough based upon each individual’s requirements, such as type of home, number of bedrooms and baths, kitchen, family room, and the list goes on…however, the above mentioned items are tangible and fixed items. They are as they appear. It is what it is. When an individual is faced with a variable, or uncertainty, such as the school lines being redistricting, it is tough to process. So many times over the last year, I have heard buyers say “We are going to wait and see what the Dekalb County School Board announces in regard to the redistricting before we decide where we are going to buy”.

It was almost like the ‘wait and see’ of the redistricting lines was paralyzing the Dunwoody Real Estate Market. Read the rest of this entry »

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2008 Mar 2nd

Do Lipstick Makeovers Sell Homes?

Categories: Atlanta Real Estate News, Buying Your Home, Selling Your Home

First of all, what is a lipstick makeover?

My definition is cosmetic make up, not cosmetic surgery.  Same as with houses. A lipstick makeover is cosmetic, only touching the surfaces.

A lipstick makeover does not mean ripping out surfaces, walls, floors, ceilings, plumbing, electrical, etc.

UPDATED vs RENOVATED. A lipstick makeover is superficial.

So here’s the question…does a lipstick makeover sell a home?

The answer is…it depends.

Today’s HOME BUYER is savvy. They can’t be fooled. So don’t try to say, for example that ‘the kitchen is brand new, complete with custom cabinetry’ if the actuality is that only the cabinet doors have been refaced.

With that in mind, lipstick makeovers do add a certain amount of value when selling a home. Having a home show well is a huge part to selling a home.  HOME BUYERS like to feel good in a home and this may be achieved with some simple improvements like painting or tearing off wallpaper.

Here is my two cents of advice. Lipstick makeovers will sell a home if properly advertised as such. Market your home to reflect its true level of updating. When a HOME SELLER says their home is renovated, and it isn’t, the HOME BUYER feels disappointed and mislead. Nobody likes that feeling, especially HOME BUYERS because it makes them think, what else are the HOME SELLERS not telling me.

Good luck, happy selling and happy buying!

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