Atlanta Condos For Sale

How Do You Handle Showing Requests?

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This post should fall under a “Frequently Asked Questions” column, but it’s a question that a SELLER should be asking their agent during the listing presentation.

How Do You Handle Showing Requests?

Showing Your Home For SaleWhen you hire a real estate “professional” you base your decision on any number of varying criteria. But after you have selected your agent, do you ever wonder just HOW they do their job? You’ve hired this real estate professional to market, and sell your home. But… what happens behind the scenes? And a question you should be asking your agent is, “How Do You Handle Showing Requests?”

See, once your home is on the market, it has to be SHOWN by a Buyer’s agent. And that Buyer’s agent makes a showing request a number of ways:

  • via an automated showing service
  • texting the Listing Agent
  • Calling the Listing Agent

But HOW does your Listing Agent respond to these requests? Let me give you a real life example that happened last night and again this morning. I was out showing property yesterday, and was not able to sit down and schedule today’s showings until 7-8:30pm last night (Last night was a Friday night for a point of reference) The quickest way for me to do this is via text messages to the agent. I have short cuts programmed into my phone and can send a message in about a minute. Now, if the agent requests phone calls, or that I use a showing scheduling service, of course I follow those instructions. Repeat. I follow those instructions. So last night, I sent out 12 of these texts to schedule showings for my buyer for Saturday morning, starting at 10am. 

I’m contacting the Listing Agent because I have a qualified buyer, ready to buy and wants to see your home.  A no-brainer that I’d get a text message, or phone call back right?

How Does Your Agent Handle Showing Requests

I actually ended up showing THREE homes where the listing agent never bothered to call or text me back! Seriously!!! And just because a listing says the home (or condo) is vacant, I still call. Maybe somebody has not moved out, or has moved back in! (GASP…it has happened!!!) Maybe there is an offer in..or even an accepted offer but the listing status just has not been changed yet. I just want to confirm things before I show. 

Imagine my concern if my Buyer LIKES one of these listings?? How will the REST of the home buying process be? Will the agent be more responsive then? Will they even respond to our offer? Yikes! 

Sure, it was a Friday night. But I’m trying to schedule a showing to show YOUR home!!! How does your agent respond to a request like this? Do you miss a showing because they never called back? Hmmm. There’s some food for thought!

When you are talking to a real estate professional, on your check list, you might just want to ask….

How Do You Handle Showing Requests?

 

 

 

I Cleared My Rental Wait List

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Renting your Midtown Atlanta CondoIf you have lived in a Midtown Atlanta condo for any length of time, you know it takes….time…to clear the rental waiting list. In fact, about 5 years in most buildings. (Almost every client we have sold a condo to, in various buildings, has cleared the wait list at 4+ years!)

I’ve Cleared My Rental Wait List — Now What?

Great you have permission to lease your Midtown Atlanta condo!

Once you have cleared the waiting list in your condo building, you have a specific amount of time in which to obtain a tenant for your condo. (This too will vary from building to building.) Now you need to find a tenant….that is if you in fact decide to rent your condo. You may decided it’s not the time for you to lease, and then your name will fall off the list and you will have to start back at the bottom. Depending on your personal situation, this can be the perfect time to start your real estate portfolio. You can look at purchasing another condo, or home, and lease this one. So you will need to be looking for that new home, and probably rather quickly based on the time you have to find your tenant. 

How Do I Find My Tenant?

Many homeowners will choose to “go it alone” and try to lease their condo on their own. Not my advice for sure. There are services such as Craigslist and other websites, but do you really want to meet a total stranger, off the Internet in your condo? Ahhhh, I thought not. 

Working with a real estate agent can make this process easier. Not only do we assist you with the marketing of your condo, we give you advice on the best things to do to make your condo more rentalable..and hopefully rent quicker. And an agent may be able to do property management for you, or just help you secure a tenant. Not all agents can, or do, property management. There are pros and cons to using a property management and we can discuss those with you in person. 

Screening Your New Tenant

Finding a Tenant for Your Midtown Atlanta CondoSo who is this person that has expressed an interest in living in YOUR condo? (We understand that you still think of this as your home, but it’s really a real estate investment that we now need to manage. And part of THAT process is finding a good tenant for your home. Most likely, another agent will bring a prospective tenant. Once they complete an application, we will have a credit check as well as a criminal background check completed by a national screening company that we work with. They check past rental references as well. If there are any unusual items on any of the reports, we can ask for further clarification and explanation. Ultimately, it is up to you to make a final decision on the prospective tenant. Of course, you must follow fair housing guidelines.

Fair Housing Act
Title VIII of the Civil Rights Act of 1968 (Fair Housing Act), as amended, prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), and disability. 

As part of your leasing process, you can limit the number of occupants (this too may be dictated by condominium rules and regulations), pets, smoking and other things. Like a waterbed. Does anybody even HAVE one anymore?

Move In and Walk Through

Whether you work with a property management company or a real estate agent that offers tenant placement services (which is what I do) you will want to conduct a thorough walk thru at the time the tenant takes possession of the condo. During this walk thru, the condition of everything is noted and documented on the walk through form! We will also take pictures if we feel it will help for clarification at the end of the lease. 

Renting out your Midtown Atlanta condo might seem scary, but we can certainly help it be a much easier and smoother process!

Spring Has Sprung and So Has the Spring Buying Season!

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Spring Has Sprung Spring Buying Season

Spring has Sprung with the Spring Buying Season!

It would seem based on this week’s weather forecast we could have a couple nights dip into the upper 30’s, but otherwise, Spring has Sprung! Things are bloomin’ and the lovely pollen is out and about.

You know what else is out and about? Buyers! And Lots of them! We are working with several clients at the moment, some are quickly finding (and getting) what they want, and others…well, we are still on the hunt! We’ve missed out on a couple opportunities and these Buyer’s have quickly learned they have to “up their game” a bit. What exactly does that mean?

Have a Lender Pre-Approval!

Never fear, all of our Buyers have been pre-approved with a lender! But if you happen to be reading this as a Buyer looking to get into the Spring real estate market, get your mortgage pre-approval from your lender BEFORE you step out the door!! With limited inventory, you are going to be competing with other Buyers, and you want that approval letter in your toolbox! 

Now is Not a “Low Ball Market!”

I’m here to help my Buyers (and YOU) get the home or condo you are looking for. And when we are making an offer, I am working with my Buyers to educate them about the market. I’ve done the research, and if the home is NOT overpriced, it may be priced JUST RIGHT! What does that mean? It means making a FULL PRICE OFFER is the right buying decision! Don’t be playing the, “oh, let’s see if they will take ‘x’ for it” and you then lose out over another offer that was right on the money. 

Focus on the Big Things on Your Inspection

Unless you are buying a brand new home, your home inspection is probably going to show some things that need attention on the home you are Under Contract to purchase. But, let’s focus on the Big Things! Maybe the HVAC is way past it’s lifetime, and you could be faced with a major repair. That’s worthy of talking about the price of the home, or other options. But when a door does not close properly, that’s something you can deal with at anytime. I’ve had a Buyer lose a home over some little things like this…and now they regret it….they really wanted that home, and just knew the Seller was going to fix ALL those little things. When the Seller said NO, the Buyers said NO, and it was over. Well, they thought the Seller would call their bluff….and they didn’t…and took a back up offer. And we were out. Over little stuff. 

It’s the Spring Buying Season! Let’s get our game plan together and get you the home or condo you are looking for! 

 

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! 

If There is a Vacant Lot Out Your Window, Buyer Beware!

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I love working with Buyers for condos in Midtown, Buckhead and other areas of the city! I think my knowledge is very helpful when they are trying to make a decision on where to live, and more specifically, which condo to buy. 

As we are standing on a balcony, or looking out a window, I’m often asked, “What is going to happen with that vacant lot?” Ahhhh…..

If There is a Vacant Lot Out Your Window, Buyer Beware!

Hanover Midtown Apartment SiteAnytime there is either a vacant lot, or even a low rise building (say 6 stories or less) I caution a buyer that the view could most definitely change. In fact I always say, “You can NEVER guarantee the view.” (Now you know, you are never supposed to say never…but in this case……) 

Unless a brand new building is there, or a high rise is already in place, there is always the potential that the view can change. Take this photo to the right…..it is taken off of a balcony at Viewpoint Midtown. That lot is at the corner of 7th and Juniper and runs up to Peachtree Street. It actually does not look like that anymore, as a 36-story apartment building is now under construction on that site! See what I mean!

Another case in point is in West Midtown at White Provision Condominiums. This building is not that tall, so certainly has the potential to have something rise in front of it. I’ve known that the area in front of the building on the corner of 14th and Howell Mill Road is owned by GATech. Well, it seems they may be ready to do something with it!

Georgia Tech Howell Mill Road

Georgia Tech is now looking for a developer for the 11 1/2 acre site where everything from a hotel, to apartments, office and retail space could rise! They have indicated they would like to include housing that is aimed at being affordable for junior faculty, grad students and others that might want to live near campus. 

On the map above, the YELLOW star is the White Provision Condominium building. So, those facing Howell Mill with a nice skyline vista of Midtown proper…..well…..enjoy it while you can.

If There is a Vacant Lot Out Your Window, Buyer Beware!

 

Atlanta Passes Historic Transit Referendum

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Not since 1971 when MARTA was first created, has the City of Atlanta sent a message that transit is what we want! 

This is GREAT news for the City, and we can only hope it will one day trickle out to the burbs. It’s just a shame that the Metro Atlanta region is so limited with transit options when you compare us to other cities. 

First off, click on the photo below to read the latest newsletter from Citizens For Progressive Transit, a grass-roots transit organization in Atlanta. 

Atlanta Passes Historic Transit Referendum

And here is an interesting study we found regarding the economic benefits of investing in transit.

Click on the photo below to read the report

Atlanta Passes Historic Transit Referendum

 

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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