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True shadow inventory in Intown Atlanta

July 25, 2011 By 3 Comments
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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

The secrets to finding a buyer in the Intown Atlanta real estate market

July 24, 2011 By Leave a Comment
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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...]

Filed Under: Adair Park, Capitol View, Sylvan Hills, Bankhead, Brookhaven, Buckhead, Cabbagetown, Candler Park, Castleberry Hill, Chamblee, Collier Heights, Downtown Atlanta, Druid Hills and Emory Area, East Atlanta Village, East Lake, East Point, Eastside, Edgewood, Fort McPherson Area, Fun Facts, Grant Park, Greater Decatur, Home Park, Inman Park, Kirkwood, Lake Claire, Lakewood, Loring Heights, Market Analysis, Mechanicsville, Midtown, Northside, Oak Grove, Oakhurst, Oakland City, Old Fourth Ward, Ormewood Park, Peoplestown, Poncey Highland, Really Great Real Estate Marketing, Reynoldstown, Riverside and Bolton Area, Sandy Springs ITP, Sandy Springs OTP, South Dekalb, Southside, Southwest Atlanta, Summerhill, Underwood Hills, Vine City, Vinings, Virginia Highland, West End, Westside

Percentage Amount of Seller Paid Closing Costs Remains Steady for Intown Closings

August 28, 2008 By Leave a Comment
Seller Paid Closing Costs

Sellers in Intown Atlanta and Decatur paid some, or all, of their Buyer’s closing costs in 71% of the transactions through June, 2008, which is nearly the same as in the last two years... Greg the Pricemaster studied the following submarkets with our micro-numbers guru, Chartmaster Chuck to come up with our conclusions: 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 Based on my experience, these numbers seem even higher  - like 90% of the time or more. That being said, I've also experienced two transactions this Summer where appraisal almost caused the deal to fall apart and the … [Read more...]

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

Median Sales Price Differences in Intown Atlanta

August 27, 2008 By 1 Comment
Median Sales Price as a %age of Original List Price

Here's another eye opener...we've seen this trend for a long, long time - at least since The Rootdown Group got started in April 2004...but...in Intown Atlanta, which we define thusly: 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 ...We see, that for the first half of 2008: 1. The median of the sales price as a percentage of the original list price dropped to its lowest level in three years during 1Q 2008 and, although higher than in 1Q, remained historically low through 2Q 2008   2. The 2Q 2008 percentage is nearly the same as in the greater metro Atlanta area   So, at 92.6% of … [Read more...]

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

Median Sales Prices for Intown Atlanta down 10.1%

August 26, 2008 By Leave a Comment
Sales prices 2007 versus 2008 for Greater Intown and Decatur

Alright, alright, alright...I may be a sluggish "blogger" but if I am one thing, I'm a busy real estate agent and a 42 year old brand new father... My Business partner at Rootdown, Greg Ruis is truly the Pricemaster. He ran these numbers and got 21 charts from our "Senior Partner" Chartmaster Chuck . Today, I'll focus on just one thing - PRICES. We asked Chuck to run the following submarkets - pretty much the primary geographic focus for our team: 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 What we found is not terribly surprising, since we live in the market everyday:  * In … [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, Ormewood Park, Peoplestown, Poncey Highland, Reynoldstown, South Dekalb, Southside, Summerhill, Virginia Highland Tagged With: ,

Welcome to the Intown Insider…

January 1, 2008 By Leave a Comment

intowninsider.com is a real estate media vehicle sponsored by Intown Atlanta and Decatur real estate specialists, The Rootdown Group. The site will feature up to date market analysis, a free real estate search tool with a terrific user interface, a neighborhood compendium, cultural epiphanies and some cool videos. We went live on January 1, 2008. We have a few things to add to make this site rock, but thank you for visiting. Please come back. Get your real estate on! … [Read more...]

Filed Under: Adair Park, Capitol View, Sylvan Hills, ATL Culture and Events, Bankhead, Brookhaven, Buckhead, Cabbagetown, Candler Park, Castleberry Hill, Chamblee, Collier Heights, Divorce Issues, Downtown Atlanta, Druid Hills and Emory Area, East Atlanta Village, East Lake, East Point, Eastside, Edgewood, Fort McPherson Area, General Information, Grant Park, Greater Decatur, Home Park, Inman Park, Kirkwood, Lake Claire, Lakewood, Loring Heights, Market Analysis, Mechanicsville, Midtown, Northside, Oak Grove, Oakhurst, Oakland City, Old Fourth Ward, Ormewood Park, Peoplestown, Poncey Highland, Really Bad Real Estate Marketing, Really Great Real Estate Marketing, Reynoldstown, Riverside and Bolton Area, Sandy Springs ITP, Sandy Springs OTP, South Dekalb, Southside, Southwest Atlanta, Summerhill, Underwood Hills, Vine City, Vinings, Virginia Highland, West End, Westside