Atlanta Condos For Sale

Understanding the Atlanta Real Estate Market

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Atlanta Real Estate MarketYou’ve heard it. Or maybe you’ve read it somewhere. “It’s a Buyer’s market,” or “It’s a Seller’s market.” Some of will even say the “market is on fire!” But what do those statements REALLY mean? Knowing that information will be a big help to you if you are buying or selling by Understanding the Atlanta Real Estate Market.

The Housing Market

This term references the overall real estate market, referring to houses (and condominiums) being bought and sold between buyers and sellers. While most of these sales are happening with the assistance of a real estate agent, their are those sales happening directly between owners. (We call that a For Sale By Owner or FSBO). As with any product, the market is dictated by the inventory of the product, a.k.a. Supply and Demand. If we have high demand for a product, and low inventory, the market appreciates. But if demand is low, and inventory is high, the market depreciates. 

Inventory in the Housing Market

Supply and demand in the housing market is related to the number of homes on the market, or the inventory. And we measure the market like this….If no other homes were to come on the market after today, at the current pace of sales, how long would it take for ALL the homes to be sold? If the inventory is high, the prices go down, as you compete to find a buyer for your home. 

So What is a Buyer’s Market and a Seller’s Market?

When you have high inventory, it is considered a buyer’s market, because the homes are on the market longer, and the supply is greater than the demand. The longer a home is on the market, the more a seller is willing to negotiate. (Or, in a worse case, they take their home off the market and wait) During this market, the buyer wins by getting a good deal on a house, or they enjoy a buyer’s market. 

But when we have less inventory, and a large number of buyers, the seller’s market kicks in..and it is the seller who is in the driver’s seat with their price. Mind you, you can ask whatever you want for a price on your home, but it will have to appraise if the buyer is getting a mortgage, or the buyer will need to have the financial means to make up any difference between the agreed sales price and the appraisal price, if there is a difference. (Oh, and yes, that does happen…and happens OFTEN!)

talking atlanta real estate
“Let’s grab a coffee and talk real estate!”

Take another example….if the new iPhone was not popular, and they were not selling, you would see the price come down. Apple would have all this inventory that is not moving, and they’d be adjusting prices to move it. On the flip side, if there are lines to buy the latest iPhone, rest assured, the price will be right up at the limit.

You have to remember that markets, especially real estate, have cycles. There will be a time of rapid appreciation, then stable markets, and then the potential for another decline. (UGH!) Thankfully, are price appreciation HAS slowed down, the market is stable, and homes are selling at a fast pace…hence the seller’s market we are currently in. 

You can find many real estate tips for both buyers and sellers in the blog posts on our site. If you have questions about your specific building (prices DO vary from building to building) or in your neighborhood, why not contact us to get a more detailed market analysis that tells you about YOUR real estate market! 

8 Narrow Kitchen Island Ideas

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Storage and space. Can we ever have enough?
Whether you live in a home or a condominium, it seems storage is always at a premium.
 
Here are some cool kitchen island ideas…if your kitchen as the room, and you don’t already have one! 
 
 
Narrow Kitchen Island Ideas

Do You Follow Your Real Estate Agent’s Advice?

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Now that might seem like a silly question to you, but just stop and think for a moment. When have you been to the doctor or dentist and they tell you to do something…and you do…for the first few days or weeks, and then you start to slack off. I can relate to this after a recent dentist appointment and a new dental hygiene “process” I was given. I’m still trying to adjust.

Why You Hire A Professional to Help you Sell Your Home 

Following your Agent AdviceThere is a lot involved in the sale of a home. But, there are things you need to do even before that listing agreement is signed, and the sign goes in the yard (or on social media in the case of a condo!)

When I meet with a potential seller, I’m there to help you sell your home. And I’m going to be pretty direct about what you need to do (on your side) to make it happen. And, you can’t take it personal. Yes, I know it’s your HOME…but you need to remember, it is now a house that we need to sell. You can pack up your memories and take them to the NEW home. But we have to sell this one first. 

Neutral Paint

“But I love my red accent wall.” “The colors match my furniture. It will make the place show much better.” Ah, no, and no. Neutral paint will make your place show much better. Painting can be a tricky thing with a Buyer. Think like a buyer for a moment. You have red walls and now you know the first thing you have to do is paint before you move in. Or hire someone. Oh, well, I need money for that, so I need to ask for more Seller paid closing costs, or get some more off the list price so I’ve got the money to paint. 

See what you just did to YOUR bottom line sales price by not wanting to paint? 

I’m going to give you professional advice to help you maximize your profit. Listen to my suggestions, and let’s work together to show your house/condo in the best possible light for the best possible price. 

5 Tips for First Time Home Buyers

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No matter how much time you spend on researching and educating yourself about your home purchase, it’s hard to cover every detail. Here are a few tips for avoiding rookie mistakes with your first home purchase.

5 Tips for First Time Home Buyers

  1. First Time Home Buyer tipsSave as early as you can: Even if you think you’re years away from buying your first home, try to start saving for your down payment. It makes a huge difference in your monthly payments, and helps avoid paying Private Mortgage Insurance.
  2. Be thorough with mortgage shopping: There are countless resources out there that can help you get the best terms for your mortgage. It may seem like a lot of work to shave less than a point off your mortgage rate, but it’ll save you thousands in the long run. If you are looking for a good lender, check out MyMidtownMojo’s Team Lenders HERE!
  3. Consult a skeptic: You’re likely to fall in love with a home, and that can make it difficult to take problems seriously. Bring along a skeptical friend or family member who can give you an honest opinion. A word of caution here….don’t bring the ENTIRE family or you will never find your new home!
  4. Be patient with getting settled: You’ll be anxious to make your new home your own, but take some time to see how your budget truly shakes out. In other words, hold off on big furniture purchases and remodeling projects. I always tell my buyers to “get the feel” for the house or condo, then look at things you might want to change to make the home function better for your life style!
  5. Make sure you’re happy with the neighborhood: The house may be perfect, but don’t discount the surroundings. You don’t want to end up in the suburbs if you’re going to miss walking to your favorite coffee shop, and you don’t want to settle for the city if you’re looking forward to some peace and quiet. If you are planning on a family soon, schools will be important, and will factor into where you want to live. If you are single, or no children…that elevator ride to the street might be the living concept for you! 

We LOVE working with first time home buyers. We have some other great resources and tips at our Intown Atlanta Real Estate Buyers Guide.  But we are happy to sit down and talk about any part of the home buying process, and in fact, that a big part of our initial consultation with new buyers! We are here to help! 

Call us now at 770.713.1505 or complete our Buyer Questionnaire to help us understand what you are looking for in your new home! 

Let these Tips for First Time Home Buyers help you get started!

Just give us a call and we can schedule a time to meet! 

10 Ways to Make Your House More Salable

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Tips to Sell Your HomeSelling a single family home and a condominium do have differences. And when it comes to preparing your home to put it on the market, a home owner will have a few other areas to pay attention to that a condo owner will not have.  Let’s look at 10 Ways to Make Your House More Salable. 

  1. Get Rid of Clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing to make your closets look larger (if they are smaller) Clean out the garage!  You know how much stuff you can hide in here! 
  2. Wash your Windows! Inside and out! And if you have a two-story home, this maybe better left to a professional company if you have to get on a ladder! Also, clean the screens at the same time. 
  3. Keep everything extra clean.  If you haven’t, a deep, deep clean of your home before you put it on the market is a great idea. Just look at walls around a light switch, or a spot on a cabinet where you may grab instead of using the handle….all of these things you may overlook, but a potential Buyer standing in your kitchen for 10-15 minutes may quickly notice. Clean the stove (oven too!!) and the refrigerator…and KEEP them clean. Buyer’s WILL open and look at these things! Mop and wax floors. A clean house makes a better first impression and convinces buyers that the home has been well cared for. 
  4. Get Rid of Smells! Clean drapes and carpeting. If drape cleaning may be expensive,  consider removing them. Open windows when cooking to eliminate odors, smoke or pet smells. You can use fresheners, but be careful as to how much. Some buyers can be sensitive to those smells too. 
  5. Higher wattage bulbs. If a room has a tendency to be a bit dark, use higher wattage bulbs to help the room seem brighter. This is especially true of basements and other dark rooms. Of course, replace any and all burnt out bulbs!
  6. Make repairs or Pre-Inspect. Consider having a home inspection done on your home, just like you would if you were buying it. You can identify minor (or even major) things you may not have been aware of. And fix them. This will again make the home look well cared for, and avoid any of those inspection “land mines” you may have heard about. Or, if you discover something you are not in a position to repair or replace, at least you are prepared when the Buyer asks for a price concession because of the item. 
  7. tips for home sellersCurb Appeal. Yes, it matters…big time! I’m not saying install a whole new yard, but keep it tidy. If you have a lawn that leans more towards weeds than actual grass, keeping it mowed, and mowed short will make it look much better! Trim shrubs and edge walkways and the curb. Potential buyers will be standing at your front door for a few moments while the agent is getting the keys from the lockbox…consider some potted plants or flowers to brighten up the entrance way. If you have a busy schedule, or if you move and leave your home vacant, hire a lawn maintenance company for the duration until your home is sold. An unkept yard has kept many a buyer from ever even getting out of the car and looking on the inside. 
  8. Clean your Driveway. Pressure wash your driveway and sidewalks. You will be amazed at the difference…and so will a potential buyer. If you have holes or cracks, try to repair and patch them. 
  9. Clean your gutters. That’s all I have to say about that!
  10. Paint your front door. You want the entire home to look good, and a full paint job may be needed before you list your home. But certainly pay attention to the front door. Again, that buyer may be standing there for a few minutes, and we want what they see to shine. 

As part of our marketing strategy to sell your home, when we meet with you, we walk through your entire home and discuss changes and things you can do to make your home look better and sell quicker. 

Let’s sit down, look at the market, and put your plan together to sell your home!!

We’ve written some other articles with tips about Selling Your Home HERE.

Sending

 

 

How Will You Market My Home For Sale?

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Maybe the better question is how we will NOT market your home for sale!!!

As a real estate broker, I’m constantly looking at listings. Multiple times a day. So I see how YOUR home or condominium is being marketed. Because first, and foremost, is the marketing that we place in the Multiple Listing Service. Because from this ONE location….your listing goes almost everywhere….like this…

Websites to Market Your Home For Sale

 And very most likely…the FIRST place anyone is going to see your home IS on a real estate website from the list above. Calls to mind the saying, “First Impressions…..” So, just imagine you have listed your home or condominium For Sale. You’ve most likely hired your real estate professional based on a referral from a friend or family member, or you have have searched online and found them. Hopefully you saw their marketing as part of a listing presentation. And you were given some examples of how they would be marketing your home. Right?

What Does the Description in the MLS have to do with Marketing my home?

Well…kinda, sort of….everything! What we as agents enter into the Public remarks field is what will show up to not only other real estate agents but to anyone and everyone searching online. When they find your listing, be it here at MyMidtownMojo, or on any other brokerage site, or even Zillow or Trulia…what they see will be a result of what the real estate agent put in the Public Remarks field. 

So imagine this is YOUR home or condominium and this is what I (or anyone else) sees about your home:

How does real estate agent market a home

Yep. See those public remarks. Or lack thereof? That is how this particular home is being marketed…and it has BEEN on the MLS like this for almost THREE WEEKS!!! 

How Would You Like YOUR Home Marketing to Look?

Imagine the same part of the MLS description above looking like this?

How will the MLS Description look for my home

Notice here there is a complete description of the condo! The location, features, amenities what’s unique about it. A special mention about what the HOA fee includes. And further, there is “private” remarks that only agents can see in the MLS that may can have further details or showing instructions. (NOTE: we are limited on how much we can put in the Public Remarks, and may pass on other details in Private remarks to help “sell” an agent on showing your home. 

Which description do you think will better help sell this condo?

Marketing and The Internet

I tell my clients that your home may be shown multiple times during the listing period, but it will be SEEN thousands of times on hundreds, or thousands of websites. And on those websites, will appear those Public Remarks. 

In fact, we consider this part of marketing your home SO important, that we have the description ready, along with the photos so that all of these parts of your listing are completed at the same time….and when your listing goes “live” in the MLS, there are photos, and a description and all the necessary information that should be there. Not this, “oh we’ll get it in the MLS and upload the photos on Monday when we get them.” No way! 

Your marketing should be First Class…and it will start that way with a complete listing appearing in the MLS. 

After all, how would you want YOUR home marketing to look?

Marketing Your Home on the MLS

Thom Abbott

Associate Broker, REALTOR(R)
905 Juniper Street, NE Suite 110
Atlanta, Georgia 30309
770.713.1505 Direct
404.876.4901 Office

 
 
 
 
 
 
 
 
 
 

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