Atlanta Real Estate | Atlanta Housing News for Real Estate

When you sell a home in Atlanta the idea is to sell it, not list it forever!  Don't be tricked!  Since your home is the most important investment you will ever have in life, the time to ask questions is before your list your home in Atlanta!   Don't make a costly mistake!  It takes more than just a real estate license, a sign in the ground and a Atlanta MLS entry to sell a home!  It takes experience, commitment and a marketing plan o sell your home.

In the Atlanta real estate market real estate sales are off by almost 40%!  Expireds and withdrawn listings are 2.5 times higher than actual sales!  It is taking longer to sell a home in Atlanta, and the Days on Market are going up dramatically!  Doesn't make sense to have an agent that when and if you get an offer that has the knowledge to negotiate in a market like this?  Since it is your home, it your choice alone to pick an agent that can get the best results for you.  Are you interested in promises or results when selling your home?  Do you want a treat or a trick?  If you make the wrong choice things can get scary quickly!

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As students in High school or college we learned or the dire consequences of the 1920's of leverage buying of stocks on the assumption that the stocks could only go higher.  Eventually it didn't go higher, and the value of stocks turned on a dime and retreated.  It lead to a great depression of stock values that lasted for years.  It is interesting that we can all look at that scenario today and ask how could it have ever happened? The stupid stock market!  How could persons be so foolish to take such risk putting up a little money, and expecting such a big return.  So what is different then about real estate flipping and investing?  The problem is in perception...real estate is a different asset class that is viewed differently than stocks because it has land, it is tangible, and provides shelter.  But the fundamentals of investment are not different.  Whether or not we want to admit it, we have just lived through one of the greatest run ups in home buildings, and resales ever seen in the United States...and we are all hanging around to see when it will come back.  Lets think of the national mindset we are in...

How could a buyer buy a home or real estate with little or nothing down, sell the home in a few months, make a profit and move on to the next deal?  Is it really conceivable that this profit scenario would never end?  This thinking works well on the upside, but no one is talking about what happens when a market flattens or worse yet, declines in value!  What then?  How does that impact real estate?  It is one thing to ignore the events, but quite another to ignore the impact it will have.  The impact is felt first in declining sales units, rising home inventory levels, longer days on market, a lowered List price / sales price ratio and eventually lowered sales prices.  There is no way to peg a time-frame of events because there are so many variables.  Local employment, absorption rates of competitive listings, and diminished sales.  The impact moves beyond the individual into the neighborhood, and does not stop at the entrance of a subdivision.  The effect goes far beyond...into falling local revenues, reassessments of property values etc...

The problem with looking at the big picture is that everyone tries to do it by looking at closed sales, or lagging statistics.  Last months sales is not a way to determine where is this all going.  It is sort of like driving a car using only the rear view mirror.  It is not a totally good indicator of what is ahead.  I think that the way this should be approached is with a mMore proactive approach.  Realistic pricing is one way to do this, qualified buyers with 20% cash (Yes their own money in the deal), no drive by appraisals, oversight of the process, strong prosecution of fraud, and borrowers must have the ability to repay the loan they were given without any modification or refinance.  Perhaps if we were acting like adults, things would never have gotten so crazy!. 

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The Atlanta real estate market report for September was just released.  The report shows Atlanta home sales from September 2006 as compared to September 2007 for single family homes in Atlanta. This covers both detached and condos.

Our Atlanta MLS the First Multiple Listing Service FMLS reported there were 4,017 single family residential homes closed in September...is 39.6% decline from September 2006. Atlanta Condos & town-homes closed 611 units - a decline of 39.7%.  In September there were 7,808 expired listings and 3,028 withdrawn listings for all single family in September.  This is not a good situation to have Atlanta withdrawns and expired listings eclipse sales by a 2.5 ratio.  The Atlanta homes that are not sell for a variety of reasons.  Our Atlanta homes inventory has doubled.  We have over 116000 residential listings and homes for sale in Atlanta.  That is double a normal market. There are fewer Atlanta qualified home buyers with qualifying credit and down payments. and Atlanta has a plethora of new agents that havenever sold anything that have incorrectly priced homes too high, and they have no marketing skills.  In short, we've become a very dysfuctional real estate market.  When you consider that the Atlanta real estate market is also increasing dramtically with increasing Atlanta foreclosures each month, Foreclosures in Atlanta are exceeding sales 2 to 1.

The great news is that homes are still selling, and the interest rates are great!  It is a phenominal time to buy a home in Atlanta.. 

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For all those that have not heard we have a tremendous drought taking place in Georgia.  This one is the real thing.  We are down to a 90 day supply, before they tap into the reserves!  As of right now there are no other contingencies once we hit the critical level.  When the water is gone, that is it!  No back up plans!  I am surprised that everyone has waited so long before taking any real action to lessen the effects.  There were no studies curbing growth, multi-family dwelling construction, single family home neighborhoods seemed to be all approved without any real impact studies.  Rationing seems to be a plan they can use if they have to but no one seems to want to implement it unless it is a last resort!  That is what happens when you have lame politicians that are not real leaders, they are just takers.  I'm sure there will be a few politicians getting their make-up to pose in front of the cameras to claim, "I told you so!"  but the truth is they didn't!  They were all too busy with their noses in the trough!  Permits, unbridled growth, too many high density projects, and no new dams!  So it is not just about restricting water lawns and washing cars that will change the picture.  There is no leadership here!  It is missing on the local, state, regional level, and planning levels!  It is totally missing!  In fact it should be criminal!  No one was doing their job!

In New York years ago they were faced with a major drought, but they averted major consequences by taking some drastic actions.  Car washes all had to recycle water or close, no water at restaurants unless specifically requested, ban on all outdoor burning.  suggestions were posted and ads were on TV with tips for water conservation.  I think in Atlanta they really want to wait until we are down to a 45 day supply before they politicians and elected officials take any real action.  By that time they will be reacting only because the TV stations, and national news will be demanding it.  A sad state of affairs for Georgia and Georgians to have leaders that cannot lead.

If there is no water, there will be no future development.  Companies and jobs will cancel plans to move to Georgia because it is obvious that we do not have the resources for growing businesses.  In fact we will not have the resources to let existing businesses keep the doors open.  I think the voters of Georgia need to rethink who they are placing in elected office.  We are the laughing stock of the nation. Education and road congestion have already kept many major companies from calling Atlanta and Georgia their new home, now it is the lack of water! 

Georgian suprise me that there is no outcry...perhaps too many will wait until the last few weeks before they voice their indignation.  Personally I think that is to late!. 

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I've been in Atlanta real estate long enough to know that a corner lots are a negative.  Oh, they will sell, but not as quickly as other homes on a normal lot!  Why?  Because there is no privacy in the front of the corner lot, nor is there any in the rear yard.  Landscaping is not an option on a corner lot it is a necessity! It really needs to be landscaped for privacy or fenced so that nosey neighbors walking by are not just staring at you as you get out of your hot tub.  Cryptomeria, and soaring cypress trees will allow total privacy over the years if you can just hold out and wait long enough!

The news and media today are painting a not so rosy picture of market health for many home sellers.  Sales in many regions are off, and in some markets the next set of statistics will just confirm what we already know.  Sales are off and sluggish, days on market have increased, the list price to sales price ratio is widening, but then again some homes are still selling. Why is that?  We all know one thing...sellers are only concerned with one thing!  Their home!  Why isn't it selling?   At theis point, it is a must ask ourselves why will some homes sell while other homes sit on the market for what seems like an eternity!  What is the difference between the home that has just closed and the home that is sitting on the market?  We must be able to convey our knowledge to them clearly and concisely!  It is easier for all if we are reading on the same page.

I recently went back online and searched some news articles from earlier times.  I was surprised at how much I was able to find.  I was even able to access some newspaper archives and was quite surprised at what I found. Yes even in the 1920's and 1930's there are newspaper articles that some homes that are painted and appear well maintained are actually selling a lot faster than those that were just abandoned.  Imagine that!  What worked in the 1930's can still work today!  It is no consolation for home-sellers if as professionals we cannot guide them through this maze we are in.  Optimism is great, but your results are what matters!  I can be as positive and as upbeat as I want, but I need to be realistic with my clients in the current market. I must know my own market! The sellers are viewing us as having all the answers, and yet no one may be showing their home.  Agents call your owners to make an appointment, but cancel the showing or just never show.  The sellers get tired of cleaning, polishing, and making their home a "showplace" for an event that never takes place.  Frustration may give way to irate calls, and irrational demands.  Home sellers wonder if their home will ever sell.  As heir agents, we are here in the middle.  It is an uncomfortable position, but part of an everyday sale in real estate.

It is important to be the real estate professional in every way possible.  It is our duty to advise home sellers:

1. Absorption rates.
2. Current Active Listings, pending sales, and recent solds.
3. Compare current statistics to previous years.  Units sold matter, not median price! 
4. Current market conditions
5. Current Sales Statistics
6. Current Seller Concessions
7. Current Incentives
8. Show them the competition's listings
9. Advise them that price is critical to sale, and so is condition and upgrades
10. Develop a strategic pricing strategy
11. And yes they will have to pay for your services!  It costs to market in these times!. 

    

     

     

     

     

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Searching for Cumming Georgia foreclosures in Forsyth County Georgia? Are you a real estate investor looking to buy foreclosed homes and properties in Cumming Georgia?  Your search has ended! 

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Jim & Ellen Crawford of RE/MAX Greater Atlanta Phone: 770-664-9516    Email Our Listings   Our Company's Listings Toll Free 888-992-5546 Canton Georgia Foreclosed homes and properties for sale!  If you would like to find one Canton website that finally allows you to search for Canton Foreclosed homes and properties for sale this is it!  http://www.atlantabesthomes.com has continued to serve buyers and sellers in the Canton Georgia area located in Cherokee County Georgia.  We have allowed you the Canton home buyer and investors to find great deals by allowing a focused search to find Canton Georgia foreclosed homes, and Canton foreclosed condos and town homes.  Feel free to search for Canton bank owned homes, corporate owned properties, pre-foreclosures and other distressed properties.  If you need the services of a buyers  agent to assist you, please feel free to contact us.  We work as buyers agents with signed buyers agency to serve your needs best!

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As an experienced Atlanta real estate agent, I have a saying I use when I go on a listing appointment.  It is easy to spot a home that was purchased without a buyers agent or an experienced Atlanta buyers agents.  The value test of what you puchased will be found out when you go to resell it!  I wonder how many Atlanta home owners are wondering if they did the right thing buying a new home from the builder without having any buyers representative or an Atlanta buyers agents repesenting their interests.  Are they having second thoughts on did they get the home at the best possible price? Did they purchase the home on the best possible terms?  Was everything disclosed?  Did the agent receive any bonus above the commission for selling you the home?  This is actually a quite common scenario.  I know this happens a lot, and not just in new homes sales as one would assume.  In the Atlanta area we have many home buyers that call us from our Atlanta real estate website because they are viewing shared broker listings.  When asked if they want to have a buyers representative work for them on their behalf..they say "No!"  They want to deal directly with the listing agent because they feel they can negotiate the commission downward.  They cannot.  Nor can the listing agent...no matter how nice or civil ever really represent the buyer since they are under a written listing agreement to represent the sellers interest! 

It really doesn't cost you anything as a buyer to work with an experienced Atlanta buyers agent that can advise them on the entire process, negotiations, strategies, inspections, resolution of inspection items.  If you had a buyers agent, they may have advised you not to purchase a home, or advised you the home was over priced.

Did you buy a home and...

• Waive an inspection
• Waive Appraisal
• Get a Survey
• Obtain Buyer's Title Insurance that protects you?
• Did You Avoid Purchasing Problem Products:  Synthetic Stucco EIFS, Flood Zones, LP, GP Siding, Polybute Plumbing, Aluminum Wiring...
• Did you purchase without a buyer's CMA? 
• What are the neighborhood home values? 
• How does the home you purchase compare to recent sales?
• Did you buy the most expensive home in the neighborhood?
• Did you negotiate aggressively?
• What major concessions did the seller make?
• Did the new homes agent tell you that you did not need an inspection because the home was new?
• Did a new homes agent say they could work you a better deal if you came back without an agent?. 

  

   

   

   

   

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