Atlanta Condos For Sale

When Should I Sell My Atlanta Condo?

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In real estate, I often wish I had a crystal ball. It would make it so much easier for myself and everyone of my clients. I could just look into it, glance up and say, “List your condo on March 2, 2015 at 1:45pm and a Buyer will find in 10 minutes later and it will be sold in 21 days.”

But, that is not the reality of real estate, is it? I have to rely on hard work, good marketing and my knowledge of what is happening in the market. Those things, combined with you being ready to place your condo on the market at a price that makes market sense, will bring that Buyer to our door.

When Should I Sell My Atlanta Condo?

But, the Buyer has to FIND something to buy! And inventory is at an all-time low! In Midtown Atlanta for example, all the construction cranes you currently see are for rental apartments, NOT for new condominiums! Yes, there is a chance they might convert in the future to For Sale homes, but if construction is underway, they most likely do not have the type of financing that will allow for a conversion right away. (NOTE: One new building, Seventh Midtown at Peachtree and 7th Streets is new construction condominiums…..prices start at $739,000 for a 2-bedroom home)

So, here are two graphs that clearly indicate the problem….

Buying Midtown Condos

So, the Buyer’s are out there….and they are looking. But what do they have to look AT?

 

Condos For Sale Midtown Atlanta

While these are national stats from the National Association of REALTORS, they still reign true in Atlanta condos! Many buildings that I work with, have as little as 1 or two homes For Sale, and there are some that have nothing listed for sale! Nothing!

If you are “on the fence” as to whether this is the time to sell, let’s talk. Sure, there are other factors we have to consider if you are going to sell your home! When did you buy? What did you pay? What are homes selling for now in your building? The answers to some of these questions might truly say it is NOT the time for you to sell.

But having a conversation and talking about all these factors is the only real way to know what is right for you.

My phone is right here next to me.

Atlanta Condos For Sale | Consequences of Overpricing

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Overpricing Atlanta Condos For SaleEveryone wants top dollar when they sell their home or condo. Every little bit the price is lowered comes right out of your pocket….I get that as your real estate agent. But when we sit down during our listing consultation and talk price, there is something to be said when we overprice your home. There ARE consequences for our actions!

Atlanta Condos For Sale | Consequences of Overpricing

When a buyer contacts me about buying an Atlanta Condo For Sale, most likely they have already spent weeks, if not months looking on-line and doing comparison shopping. Many times, they even come to me with a list of condos they have identified they want to see. So, if your condo is priced at $365,000, and is should of been priced at $350,000, you probably lost that buyer. NOT good!

But here are some other results of being overpriced:

  • Overpriced properties become “stale” during those crucial first weeks on the market. Reducing the price later may not ignite the market interest in your home.
  • Overpriced properties won’t be shown to the prospective Buyer. Take the example above. If the Buyer’s agent has a buyer pre-approved for $350,000, they most likely  hopefully won’t be trying to squeeze their Buyer into a home they are not qualified to purchase.
  • Overpriced properties just help sell everything else. Yep, pretty much.
  • Overpriced = longer time on the market.
  • The longer a property is on the market, the lower the offer may be. “You’ve been on the market a long time Mr./Ms. Seller…you must be desperate now to sell. Here’s our low offer.”
  • Last, but not least…..the appraisal! Ultimately, the house or condo has to appraise if the buyer is getting a mortgage.

If your home or condo is priced right, is should sell quickly. This is not a bad thing!!! Many sellers think that a quick offer and sale on their home means they should have asked for MORE! NO! It sold quickly because we priced it RIGHT! 

If you are looking to sell your Intown Atlanta home or condominium, I’m here to help!

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Midtown Atlanta Condos For Sale | How Can I Improve My Condo’s Value?

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What is my Midtown Atlanta Condo worthWhen I meet with prospective Sellers, part of our discussion is always about what they can do to make their condo “stand out” from the rest. Even in a market when inventory may be limited, if your condo does not show well…well it won’t sell well!

But let’s rewind to when you first bought it. (This IS important, in case you happen to be reading this as a recent Buyer, or your plans to sell may be off in the distance.)

Midtown Atlanta Condos For Sale | How Can I Improve My Condo’s Value?

Most Midtown Atlanta condos look like they did when they were built. Seriously. Most buyers have never changed or upgraded anything in the condo they bought. Especially if they purchased it as new construction. But now that the condos have some years on them, some easy things you can do to make your condo stand out include:

  • New and different granite counter tops — something that will make your condo “pop” from the others. A majority of the kitchens are not that large and so the cost of the granite may not be that expensive. This applies to the bathrooms as well
  • New and different kitchen backsplash. Every condo seems to have a black tile back splash. See how great things look with a different color! That said, be careful not to go wild and crazy or that could work against you.

But in the short term, let’s say you want to list your condo for sale in the next 30-60 days. Here’s some things to do:

  • Paint. If your walls are scuffed, or you have not painted since you moved in…do it. The fresh paint (and smell) will give your condo a new feel
  • Make sure everything works. You might consider getting a pre-listing inspection done by a home inspector. Why not find out all the little things that might come up during the Buyer’s inspection, and take care of them NOW!
  • The video below mentions landscaping, which certainly applies to a single family home, but not so much a condo! But you can “landscape” be decluttering your condo. If you’ve got lots of winter (or summer) clothes, books, or other stuff, consider a short term storage unit to place these things in. Space (especially closets) can be a premium in a condo, and you want to show them you got it.

I’m happy to meet with you after we list your home to make sure we have highlighted these things. I also recommend having a home staging company come in and help arrange your furnishings to make the most of what that potential buyer will see when they walk through the door!

If you are considering selling your Midtown Atlanta condo, let me know! I’d be happy to meet with you and talk about the market in general as well as what is happening in your particular building.

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Atlanta Condos For Sale | How Do I Select a Broker?

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Midtown Atlanta real estate brokerYou are about to embark on one of the biggest financial decisions you will make. Buying or selling your Atlanta Condo! Whether you are a first-time buyer or first-time seller, or you have done this numerous times….having a team on your side is the most important part. And so is the Team Captain…your real estate broker.

Atlanta Condos For Sale | How Do I Select a Broker?

I often times see Midtown Atlanta Condos listed by agents that are not really familiar with the Midtown area. How do I know this? There are many key “triggers” I look for in the listing. But I can often tell.

When you select a real estate broker, the wife of your husband’s boss, or the husband of your kid’s grade school teacher may not be the best person for you to work with. During the process of buying and selling a home, you will be talking about your finances (what you can afford, how much you have saved, etc) and sometimes you might not really want to share that kind of information with one of the people listed.

Also important is the broker’s knowledge of the area. I live and sell Midtown Atlanta. Is your listing agent on the street of Midtown everyday? If they live in Marietta or Alpharetta, are they IN Midtown Atlanta every day? When they stand on your balcony and look at that vacant lot across the street, do they know there is a 36-story building proposed there that will dramatically change your view?

Have they seen the other condos in the building that are For Sale, or sold recently to know how your home compares to them?

And there are questions about how the broker will market your home, and the marketing fees involved.

If you are looking to sell your Midtown Atlanta condo, let me show you my 11 years of Midtown Atlanta experience.

 

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Atlanta Condos For Sale | When Should I Sell?

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How Do I market My Condo For SaleA question I’m asked almost daily….”Is it a good time to sell?” When Should I Sell?”

Sometimes this can be a more personal question, and other times, a more financial question.

Atlanta Condos For Sale | When Should I Sell?

Personal– time to downsize, a change of scenery or other life changing event might meant it’s time to sell.

Financial — maybe you bought at the height of the market and your value was down and you could NOT sell, but now the prices are such that you can. A job change could mean more money or less money to make your mortgage payment.

There are numerous reasons to sell. But don’t try to make that decision on your own. Let me help.

 

Working with Thom Abbott and MyMidtownMojo.com

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Real estate is the industry, or business that I work in. My job really is in marketing. Especially for Sellers. But when it comes to working with Sellers or Buyers, I consider my clients my friends. And when you help your friends, you want to make sure they do the right thing, or get the right thing.

In helping my clients find the right home or condo, my joy comes from seeing THEIR joy when we find the “this is it” house, and we make it through the home buying process and they now have a great place to call home.

Such was the case of working with Randy and Sarah. Not only was it a fun process, but I know we will be friends for years to come. Thanks for letting me help you find your perfect first home!

Thom Abbott and MyMidtownMojo.com

 

My husband and I just bought our first home with the help of Thom. As you can imagine, our ideas and priorities changed quite a bit as we continued through the search process. He was so patient with us as we figured out what we loved. One of Thom’s greatest strengths is his ability to really listen to his clients and make adjustments to his suggestions based on your priorities. He easily builds rapport, and cares about getting to know his clients on a personal level. It is clear that he always has his clients’ best interests in mind, and is willing to go to bat to protect them if needed. To Thom, this isn’t just a job, he is genuinely interested in helping you find the home of your dreams, and that passion is apparent in every interaction.

Sarah

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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