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What the Intown Insider has learned since April 2004

If there is one thing that I’ve learned in my first 45 months of operating The Rootdown Group, it is this: Atlanta’s real estate consumer, and to narrow that down, the qualified, Intown Atlanta and Decatur residential real estate Buyer, has a massive database of choices. New stuff everyday, in every submarket, at every price point, in every style, with good pricing.

And, the good ones go quick.

However, right now, less than 20% of the inventory of houses in the FMLS actually gets absorbed every month. The other 80% languish and eventually sell past their sell by date, leaving Seller’s stressed and bewildered, wounded and hopefully smarter. A big list of these properties get price reductions, and eventually sell. At closing, the crestfallen Seller collects a lot less than they expected, or brings money to the table. Damn, that hurts.

Some of the rest just sit there, and get victimized by the elements, and the occasional urban vandal/thief/crack ho. Drive through Peoplestown, Lakewood, Mechanicsville, Hunter Hills or Pittsburgh. All of these Intown neighborhoods and others have vibrant signs of rebirth, but they are also littered with the remains of amateur renovators and builders, their brass light fixtures and doorknobs, drainage and landscaping oversights, and white appliances. Empty.

Meanwhile the lovely, stately Intown tree lined street neighborhoods, plus the urban cores of Midtown and Downtown have fairly vibrant health. We see lots of money pouring into our city. I am filled with thrill to be present for the skyscraping renewal that Donald Trump’s hot daughter is providing our fair city. That girl is a bellwether mark my words.

The stately Ivanka

Furthermore, the Buckhead Village is going to be “da bomb” around about 2012. When I moved here twenty years ago, and Aunt Charley’s was “da bomb” there was no place that I would rather be than in Buckhead. Ten years later, I hardly ever went to Fado, never made it to Mako’s or Uranus. I’m sure that some of you did have some fun at Mako’s and Uranus, and if you did, then all that I can say is that I encourage you to continue to rock on…

Twenty years later, I am really glad that lame bars will be replaced with luxury adult amenities. Luxury is hot. Baby Boomers are loaded. Watch for that Buckhead transformation developers with lots of money are banking on Atlanta’s population to grow by almost 3 times over the next 30 years. Heavy, heavy fuel. Meanwhile there are lots of unsold luxury properties around town  – definitely a sub-market to watch for falling prices and better deals in 2008, 2009.

So, what does all of this mean? Well to me, rooted in all of this activity, I’m thrilled to be a real estate agent. I’m thrilled that The Rootdown Group is ranked in the top 20 out of about 300 agents in the #1 Keller Williams Realty market center in Atlanta after just practicing for 45 months. Our clients rock.

What should it mean for you as you seek advantages in the Intown Atlanta market?

Well, I believe that the victors in today’s Atlanta Intown market will seek difference. They will discriminate on all issues of value, whether they be the Seller or the Buyer. Victorious Sellers will heed the current market warnings to price their property fairly, or else. Today, right at this moment, even fairly priced Sellers are not getting the showings that they would have seen in the markets just 2 -10 years ago. The supply and demand counterbalance is not what is was.

And hope is not a strategy!

Hope not dope, says the Reverend Jesse Jackson from my hometown of Greenville, S.C.

It still isn’t a strategy. If you simply hope. If you simply list, then you will just struggle. Some of you will do so while harboring rancid arrogance. Pride cometh before a fall, amen.

67% of all Atlanta residential listings do not sell during their listing period.

Our Buyer’s market is prime. The movement over the past 12-24 months from a transitional market (in between a seller’s market and a buyer’s market) to a true Buyer’s market has been a fascinating ride for the Intown Insider.

What are your thoughts? Ya gonna call The Rootdown Group when ya need us? Please do. Dana, Greg, Hilary and I will help you reach your real estate goals. If we can’t help ya, then we know someone who can, I’m very sure.

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