Find Us:

You are here: Home / Archives for Really Bad Real Estate Marketing

True shadow inventory in Intown Atlanta

July 25, 2011 By 3 Comments
shadow_inventory.jpg

I speak with agents and other players in the real estate business everyday and one subject that seems to creep up lately is “shadow inventory.” Shadow inventory includes properties that are abandoned by their former owner, typically due to foreclosure, plus a few other oddities. Here’s a better definition, from Investopedia: “real estate properties that are either in foreclosure and have not yet been sold or homes that owners are delaying putting on the market until prices improve. Shadow inventory can create uncertainty about the best time to sell (for owners) and when a local market can expect full recovery. Also, shadow inventory typically causes reported data on housing inventory to understate the actual number of inventory in the market…” Here’ s local example – a house listed for short sale in Ormewood Park for a few months in 2009. The sellers failed to sell, and were notified that the bank seized their property in foreclosure in December 2009. Nearly 20 … [Read more...]

Filed Under: Market Analysis, Ormewood Park, Really Bad Real Estate Marketing, Southside

Distressed Property Starts From Within…

November 6, 2009 By Leave a Comment

One of my clients wanted to see a resale condo listing on Greenwood in Virginia Highland last week. Brand new on the market and priced for less than $125K - it's a 2/1 in a gated community called Highland Place, with just $190 per month HOA fees. It's been a stable community ever since it went condo back in 2000, as far as I know. I remember when my friend Rick Hale sold these for the builder at the time of conversion, and a 2/1 like this was probably $150-170K just 9 years ago. So, here's a few life lessons that can be taught from this video: 1. If you are a listing agent, or a seller, you are responsible for buyer perception - buyer perception starts with daily freshness and good hygiene 2. kitchens and baths sell houses 3. this kitchen is a testament to a slow death diet 4. a slow death diet is a reflection of your entire lifestyle 5. if you own a Colonel Sanders bobblehead doll, and lose your property to foreclosure, then leave it - he is a Saint Joseph like … [Read more...]

Filed Under: Eastside, Market Analysis, Really Bad Real Estate Marketing, Virginia Highland Tagged With: , , , , , ,

So, What if My Buyer’s Agent is an Idiot?

May 21, 2009 By 3 Comments
realtor.jpg

So, are some of you out there wondering if the Realtor that you recently hired knows what they are doing? Have you fired your Realtor? Did you do everything that you needed to do to fire that agent? I just encountered this situation – someone called me and stated that they want to work with me because their Realtor did not “know Intown Atlanta.” This is the third time that this has happened this year, so I’m starting to feel like a specialist! Here’s what I just wrote in an email to a potential new client: In order to help you move things along and to help you be as forthright as is needed with the termination of your previous Buyer Brokerage Agreement, I want to copy and paste an important part of the agreement that you sign when you "hire a real estate agent in Georgia." Unless you agree to some other form of paying an agent, it is customary that the "Buyer's agent" is paid from seller funds at closing and that the seller and/or "listing broker" advertise the … [Read more...]

Filed Under: Market Analysis, Really Bad Real Estate Marketing, Really Great Real Estate Marketing, Westside

Top Ten Reasons Why I Did Not Blog Since Veteran’s Day

December 10, 2008 By Leave a Comment

10. My Mother In Law was here for 10 days around Thanksgiving 9. My Mother In Law's "seeing eye dog," Davey was also here 8. Saint Audrey the Nanny got the flu, thereby making my primary job "Mr. Mom" 8. Then, I got the flu 2 weeks ago 7. Then, my wife got the flu 6. Now my 10 month old daughter has the flu 5. I have been made rather speechless by the overwhelming shitstorm of negativity and appalling pain, blues and agony in Washington D.C., Mumbai, Detroit, Chicago, etc. etc. etc. 4. I wanted to soak my weary body in the positive "ch-ch-ch-changes" that are upon us 3. I threw a kickass 40th birthday party for my lovely wife Laura back on November 15th - I was the DJ, so I needed to get my mind right, obtain the necessary grooviness and execute flawless Old Wavery 2. I have been doing a lot of thinking about the next 20 years, and I'm not caught up in the "day to day" 1. I've decided that Seth Godin is right - the personal blog is dead ... That being said, like Seth … [Read more...]

Filed Under: Eastside, Fun Facts, Market Analysis, Northside, Really Bad Real Estate Marketing, Really Great Real Estate Marketing, Southside, Westside

Ouch! Intown Atlanta Sellers and the Price Reduction Effect!

September 6, 2008 By Leave a Comment
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...]

Filed Under: Cabbagetown, Candler Park, Druid Hills and Emory Area, East Atlanta Village, East Lake, Eastside, Edgewood, Grant Park, Greater Decatur, Inman Park, Kirkwood, Lake Claire, Market Analysis, Midtown, Oak Grove, Oakhurst, Old Fourth Ward, Poncey Highland, Really Bad Real Estate Marketing, Really Great Real Estate Marketing, Reynoldstown, Southside, Virginia Highland

Smashed Feet?

September 5, 2008 By Leave a Comment
smashed-feet

My friend Kirk Nace is one of the foremost thinkers in the real estate business - he is an esteemed faculty member at Keller Williams University and he is a renowned business coach for real estate agents. "Kirk Nace became involved in land surveying and development in 1979 and then became an active investor in 1981. In 1991 Kirk became an active realtor. Since THEN, Kirk has BEEN A PART OF, AND ULTIMATELY trained the top ½ of 1% of real estate salespeople and investors in the US and Canada    Kirk HAS OWNED OR WORKED  with multiple ERA, COLDWELL BANKER, CENTURY 21 AND REMAX companies; his own private real estate company; mortgage brokerage business; private real estate investment companies; title businesses; property management companies, and his own private business consulting firm."   Kirk is tough, and his fledgling blogsite "SMASHED FEET"  is a testament to his no-holds-barred style of communicating the reality of the real estate market, today. In … [Read more...]

Filed Under: Market Analysis, Really Bad Real Estate Marketing, Really Great Real Estate Marketing
« Older Posts