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Listing Advice For My BFF


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I have a “BFF” in Valdosta, GA and he and his family want to move to Atlanta for a number of reasons.

They are a Seller with decent equity – they are questioning whether they should wait until next year to make their move, maybe starting in February 2010 – he’s coming up to start a business, and they both have family synergies in Atlanta, so there is a lot of upside to leaving Valdosta, including a better wealth building opportunity in Atlanta and a better work/life balance.

Here’s what I recommended to them today – maybe you are in a similar situation, Mr. or Mrs. Intown Atlanta Seller.

I hope that this helps someone…

Just price it under everything else and move.

Real estate values are not going to rise at any time “soon.”

Three years or more before we see consistent, annual 2-3% rises in some markets. Some markets…make that some submarkets.

Many submarkets will continue to decline or remain flat for more than a decade, dragging all American real estate downward, and keeping some down for more years than others.

It’s like a gravitational pull caused by the lower priced housing that would have sold for $100K just five years ago now sells for $50K or even less. That price range hurts your price range indirectly.

Foreclosure activity is over 37% of Atlanta’s RE market. Over 50% of the market under $200K is foreclosures.

Sell your house as soon as y’all are good and ready, but why not be here for schools in the Fall as a goal? Just be glad that you guys have plenty of money, and that your Valdosta real estate is still going to net a profit even if you dump it for less than the sale down the street.

It’s about the value of your lifestyle not your real estate in Valdosta. And conditions for a real estate purchase that improves your lifestyle have never been more favorable.

Luvya,

LT

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