Concentricity. Ever heard that word? It means “to have a common center.” I just learned that in the world of fiber optics, the definition of concentricity is about being “well-centered.” At any given real estate brokerage office with more than a few agents on staff, even the most free-wheeling and independent agents are part of the culture – the good, the bad, and the ugly. At my “market center” in Decatur, Georgia – we live up to the title of market center. We sit in the center of our core submarkets and we dominate the numbers in FMLS Area 52 – the “Greater Decatur” submarket. We also have significant market share in the nearby areas both inside and outside the perimeter. How do we do it? Well, pretty much just like other successful, mature Keller Williams market centers do it. 1. provide the The Best Technology tools to our agents As technology continues to transform the ways in which buyers search for homes and real estate professionals … [Read more...]
The secrets to finding a buyer in the Intown Atlanta real estate market
Many different features attract buyers to a real estate purchase, but the seller only has control over two of them. Sellers can still get the highest possible list-to-sell ratio and sell their homes as quickly as possible if they are willing to put their trust in two time trusted principles of real estate: condition and price. Since 72% of all sales transactions are “equity” transactions – not distressed, not some odd luxury transaction and not an estate sale, the chances are favorable for sellers who “get it.” Here are the the top ten features that attract buyers according to the Keller Williams Realty International survey conducted for our 2011 Market Navigator booklet. 1. Location – favored by 69% of buyers 2. Neighborhood – favored by 55% of buyers 2. Floor plan – favored by 37% of buyers 3. Updates to the house – favored by 36% of buyers 4. Curb appeal – favored by 30% of buyers 5. Square footage – favored by 28% of buyers 6. Back yard – favored … [Read more...]
Intown Atlanta Median Sales Price down 24.4% in 4th Quarter
Median sales prices were lower in each quarter during 2008 compared to the same periods in 2007 and 2006. The overall median 2008 sales price was -12.9%, compared to that of 2007. The 4Q 2008 median price was 24.4% below that of the same period in 2007. We gathered this data from researching the following Intown Atlanta submarkets: Vinings, Inside the perimeter Sandy Springs, Inside the perimeter North Dekalb (Brookhaven, Chamblee, etc.), Greater Buckhead, Greater Decatur, Eastside Atlanta – Fulton, Eastside Atlanta – Dekalb, and Southside Atlanta (Grant Park, Ormewood Park, etc.). Intown Atlanta and Decatur Buyers – it’s OK to wonder if “the time is now.” It’s certainly OK to stay a renter, or to stay in a neighborhood that you do not want to be in next year, or to stay in a school district that is not your favorite, or to spend more time with your windshield than you do with your family, or with your best friends, or with your pets, or … [Read more...]
Pain Is Weakness Leaving The Body – Intown Atlanta Sales Drop by Quarter
Declining economic conditions during 2008, including an acceleration of decline during the fourth quarter, along with large numbers of property foreclosures glutting the market, contributed to a difficult year for property sellers. One of my first encounters with a US Army Drill Sergeant was the proclamation of this statement: “pain is weakness leaving the body.” I believe that same statement applies to our collective financial body right now, although we have a lot of “working out” to do over the next few years, don’t we? Chuck Norris can not help you, Atlanta Sellers. Low interest rates, declining prices and a high inventory of listings combined to make 2008 and 4Q 2008 particularly, an especially good time to buy property, but what is a Seller supposed to do in 2009? Right now appears to be an even better time to buy, so a Seller should do what they know they should do already: price the property to be competitive, not to be … [Read more...]
Ouch! Intown Atlanta Sellers and the Price Reduction Effect!
This chart is a big eye opener. Take into account the following facts: 1. The <$200K price range had a more severe impact (-24.9 percentage points) on the percentage of listing price realized after a price reduction, but all price ranges are affected heavily when a reduction is necessary 2. The lower price range impact was likely amplified by the number of foreclosed properties in that price range 3. Between $200K and $999,999, Sellers who don't price their property right the first time are losing anywhere from 5-8% on the sale ... that doesn't even account for the lost capital - time is money, and monthly debts must be paid, month after overpriced month In the past 2 weeks, we've concluded the following, in addition to this bold statement about the effect of price reductions: A. Sellers are paying some or all closing costs in about 71% of Intown transactions B. Most Listing Agents and Sellers, most of the time are off by about 7% List vs. SOLD on … [Read more...]
It’s All About You, Intown Atlanta Sellers – Price Reductions Abound
In the past week or so, we've reported that: A. Sellers are paying some or all closing costs in about 71% of Intown transactions B. Most Listing Agents and Sellers, most of the time are off by about 7% List vs. SOLD on Intown sales C. The Median Sales Price is down 10.1% through the first half for the Intown neighborhoods we surveyed Here's what we looked at... 1. Ansley Park and Morningside southward to Inman Park and Reynoldstown - that includes Midtown and VAHI 2. Eastside Atlanta Dekalb - the neighborhoods East of Moreland and Briarcliff, plus Johnson Estates and southward to Edgewood and Kirkwood - all North of I20 3. Southside Atlanta Fulton - Grant Park, Summerhill, Boulevard Heights, Ormewood Park, EAV 4. Greater Decatur - South of Mercer U, down to I20 at South Dekalb Mall So, those who get this get the quick sale. We've found that most of ya want a quick sale, don't ya? The Rootdown Group gives good advice to Sellers - call us. We would … [Read more...]