Midtown Atlanta Market Report | July 2015

Midtown Atlanta Market Report | July 2015 $200-300,000

Midtown Atlanta condominiums really do come in all shapes, sizes…and prices. Let’s take a look at the sales for July, 2015 for condominium sales with a price range of $200,000 to $300,000.

Active Listings

Midtown Market $200-300K August 24, 2015

67 condominiums are on the market in Area 23 (Of which the majority of Midtown Atlanta is in based on the FMLS) If you are looking for a 2 bedroom, and think you can’t find one under $300,000, a look at the listings shows numerous 2 bedroom options, mind you not all of them are in the central part of Midtown. But we did see listings in buildings like Park Central, Mayfair Tower and Peachtree Walk.

Pending (Under Contract) Listings

Midtown Market Report August 24, 2015

Just 16 homes are showing Under Contract. Keep in mind, we specifically pull those listings that went Under Contract during the month of July. There are actually 61 homes Under Contract in Area 23.

SOLD!

Midtown Atlanta SOLD August 24, 2015

Here we get a bigger picture of the market….and take a look at that last column on the right….Days On Market! Yes, there IS a ZERO, and the average in July, 2015 was just 21 days on the market! WOW! In comparison, in July 2014, there were 33 homes sold at an average of $247,572. While the Average Sales price is down for July of this year, I’m not concerned. It just means there were Buyers out there that picked up the low hanging fruit!

So, why did YOUR home not sell?

There can be a number of reasons, but in Midtown Atlanta condominiums, it usually has to do with your floor plan (we do have some not-so-well-thought out floor plans) or perhaps the view (both the floor and what you see out the window/balcony) and there is certainly price. If your home is on the market at Price “X” and it’s not selling, and you are not making a price adjustment, you will be ON the market. That market is telling you we are not willing to pay you what you are asking, or perhaps even make an offer at the price you have.

If you would like to see other July, 2015, Market Reports, just bookmark this post, and we will add links as we complete them.

Midtown Atlanta Market Report | July 2015 | Under $200,000

High Museum Midtown Atlanta August 24, 2015

Thom Abbott

I'm a real estate broker living and selling the Midtown Atlanta lifestyle. From high rise condominiums to historic homes, I enjoy everything Midtown Atlanta has to offer. I'll help you find the right home in Midtown Atlanta or any of the other exciting Intown Atlanta communities that border the Midtown Area!

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5 Ways To Catch the Atlanta Seller’s Attention

5  Ways Catch Atlanta SellersYou’ve been looking for that “perfect” Atlanta condo, right. And whether you have been looking for a week or a month, you know that the HOT Atlanta real estate market does not offer you many choices! With the limited inventory, you might even find yourself in a multiple-bid situation….meaning there are more Buyers than just YOU interested in that condo. So, you need to make an offer that will convince the seller that YOU are the one they should sell to.

5 Ways To Catch the Atlanta Seller’s Attention

You don’t have to be in that multiple offer situation either. The seller still has the right to review, and refuse any offer they receive on their home. BUT, if  we write an effective offer that focuses on 5 important parts of the offer, you have a much better chance of being the offer the seller accepts.

Pre Approval Letter From Your Lender

There IS a difference between a pre-qualification letter and a pre-approval letter. With the pre-approval letter, you have provided your lender with all the necessary documents they need to review to give final approval on your loan. (with the exception of the contract we are working on!) By having this in place, it will help you with the Quick Closing and shorter Due Diligence periods noted below. Additionally the Georgia Purchase and Sale Agreement has a Financing Contingency in it. You may be able to offer a much shorter time frame for this process by having your pre approval completed.

Offer the List Price (Or Close to It!)

The first thing the seller will look at when your offer is presented is the price you are offering. If their listing agent has done their homework, the home will NOT be overpriced! And offer a full price offer is not a bad thing. You are paying what the home is worth. If it is somewhat overpriced, and we are in a multiple offer situation, you may need to offer OVER the list price. A Seller is going to look much closer at an offer that is at or near the listing price. We will also have to be prepared for the appraisal process in case there is a difference between our offer and the appraisal. But to low of an offer and we could be out of the game before we even get started!

Request A Quick Closing

The sellers are either being relocated or have already found their next dream home or condo. We want to keep that in mind when presenting our Offer.  Chances are, it is one of  those two things that have prompted the sellers to list their Atlanta condo in the first place.  Sellers may  want to close quickly, to facilitate the closing on THEIR new home, or to complete a relocation package, so a general rule of thumb is to offer a Closing date that is within the next 30 days, provided  your lender has said that is possible.  By offering a quick Closing this can also show the Seller you are a motivated buyer.

Choose A Shorter Due Diligence Period

A Georgia Purchase and Sale Agreement  includes a Due Diligence period, which allows the buyer to back out of the contract for any reason … or simply no reason at all.  This is the time when you do a detailed investigation of the property including  HOA documents and budgets,  and your property inspection.  Sellers like to see a shorter Due Diligence period, and if you are in a multiple-bid, this could be your winning card!

Earnest Money MyMidtownMojo.com August 14, 2015Offering A Higher Earnest Money Deposit

When you make an Offer on a property, you will also give the seller a good faith or earnest money deposit.  A higher earnest money deposit also shows that you are serious about buying the home, as you have more initial money upfront!

These are just 5 Ways To Catch the Atlanta Seller’s Attention and just a few of many factors that a seller considers when they receive an offer.  But by looking at these five key factors, we are focusing on those which Sellers tend to put the most significance on when making a decision.

I’m here to help you write the best offer possible!  If you need help in this HOT Atlanta market, give me a call!

 

 

Thom Abbott

I'm a real estate broker living and selling the Midtown Atlanta lifestyle. From high rise condominiums to historic homes, I enjoy everything Midtown Atlanta has to offer. I'll help you find the right home in Midtown Atlanta or any of the other exciting Intown Atlanta communities that border the Midtown Area!

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10 Home Staging Tips for your Atlanta Condo

Atlanta Condo Home Staging Tips July 26, 2015You’ve done everything you can to get your property ready for sale or rental. You’ve renovated, rehabbed, upgraded and created what you think is the perfect home for prospective buyers or renters.

But before you list it and stick that “open house” sign on the front lawn, there’s one final thing you need to do to make sure all your hard work pays off: staging.

10 Home Staging Tips for Your Atlanta Condo

Staging is the art of presenting your property in the most attractive and positive light possible. Done right, staging turns a property into a home and allows people to envision themselves living there.

While factors like location and number of bedrooms can get people in the door, it’s the way that the property captures their imagination that will ultimately influence whether or not they decide to sign on the dotted line.

Read the rest of this great article here.….and then come back for more information about Atlanta real estate!

 

Thom Abbott

I'm a real estate broker living and selling the Midtown Atlanta lifestyle. From high rise condominiums to historic homes, I enjoy everything Midtown Atlanta has to offer. I'll help you find the right home in Midtown Atlanta or any of the other exciting Intown Atlanta communities that border the Midtown Area!

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Atlanta Condos For Sale | 805 Peachtree

Atlanta Condo For Sale 805 Peachtree June 30, 2016What is that saying, “Variety is the spice of life?” That is also true when it come to looking for Atlanta Condos For Sale. First there are numerous areas in the City of Atlanta where you can find condo living. Then there are all types of buildings. Each has its own character and it may, or may not, fit your lifestyle or your design tastes. 805 Peachtree is certainly a unique living opportunity in Midtown Atlanta.

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Thom Abbott

I'm a real estate broker living and selling the Midtown Atlanta lifestyle. From high rise condominiums to historic homes, I enjoy everything Midtown Atlanta has to offer. I'll help you find the right home in Midtown Atlanta or any of the other exciting Intown Atlanta communities that border the Midtown Area!

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4 Steps To Make Your Condo Show Ready

Tips for Selling Your Condo June 2, 2015Congratulations! We are officially “On The Market” with your home or condominium!

We did all the pre-listing items we discussed from painting, to de-cluttering closets and cabinets. We’ve had our listing photography done and your listing has been entered into the listing service. Let the showings begin, right?

Ahhhh…Not so fast!

If you’re like me, cleaning house is not always at the top of my list of things to do. If you have a housekeeper….awesome! But, when you have your home or condominium listed For Sale, it needs to shine all the time. As much as we try to plan for your showings, they can, and WILL come with short notice. Remember, our goal here is to sell your home!

If you have been one of those people that might not make the bed before you leave for work, or like to leave that cereal bowl in the kitchen sink…we are going to have to change some habits! Potential Buyers don’t want to see or know what you had for breakfast!

4 Steps To Make Your Condo Show Ready

showing your condo!

 

Thom Abbott

I'm a real estate broker living and selling the Midtown Atlanta lifestyle. From high rise condominiums to historic homes, I enjoy everything Midtown Atlanta has to offer. I'll help you find the right home in Midtown Atlanta or any of the other exciting Intown Atlanta communities that border the Midtown Area!

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