Four Common Myths About Selling Your Atlanta Home

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There are many places to go to find real estate information, but how much of it can you really trust? Today, I want to explain four common misconceptions people have about selling:

1. Inventory is too high. This simply isn't true. In fact, right now, we have 4.7 percent fewer homes on the market than we did a year ago at this time. Fewer homes on the market means there's less competition for you!

2. You need an extremely high credit score to qualify. Many homeowners are hesitating to sell because they think their credit score is too low. In truth, the credit score thresholds are back to where they were before the recession.

3. Lending requirements are too strict. Over the last year, lending requirements have loosened up significantly, making it easier to qualify that it was years ago.

4. You're trapped in your mortgage. Many people think they can't afford to sell because they won't have enough money to pay off their mortgage and purchase a new home. The fact is, 32% of people grossly underestimate what their true equity is. Your home is probably worth more than you think!

 

If you have any questions about these misconceptions, or if you think you might be eligible to make your move after all, please don't hesitate to reach out to us. We would love to help you in any way possible! 

Why Is Now a Great Time to Sell Your Home?

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Today, I want to discuss a few of the many great reasons for selling your Atlanta home this time of year. Here are a few things to keep in mind: 

• Your yard looks no worse than anyone else's. Everyone's trees are bare and everyone's yard is brown. Yours isn't the only home that doesn't have as great of curb appeal as it does in the summertime.
  
  
• Buyers are more motivated. Sure, there a lot fewer buyers -- but the ones who are out and looking now are highly motivated. They are actually going to buy!
  
  
• There is less competition. There are fewer homes for sale during the fall and winter months, meaning there is less competition for you!
  
  

Don't wait until the spring because that's when ALL the buyers come out!

Really, if you're ready to sell, there is no reason to wait. If you have questions about your particular circumstances, or if you need real estate assistance of any kind, please don't hesitate to reach out to us.

We would love to help you!

How Can You Find an Agent Who Won't Let You Down?

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Now that the fall is here and you're thinking about selling your home, you're probably debating whether you should hire an agent to help you. With so many agents out in the field, how can you choose one who will really go the distance for you? After 30 years of selling real estate, I think the best thing you can do is ask each agent you interview these three questions:

Can they sell?
 
Nobody wants the pushy type of salesperson representing them. You want somebody who is fluid, persuasive, and comfortable in their own skin.

Do they have a track record?
 
No agent is walking around with a sign that says how many homes they have sold. Many agents look like they can do their jobs, but you really need to look at their track records to find out which agent is truly the best. Nowadays, the Internet can help you do this easily!

Do they have references?
 
Find people they have actually worked with. Find out whether they did a good job and were easy to work with. People who have had past experiences with the agent you plan to hire are great resources.
 
If you have any questions about what you can do to find a great agent, don't hesitate to reach out to us. We would love to hear from you!

Who's Buying Homes in Atlanta?

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When you sell your home, it's important to know who might be buying. If you have an audience that you know will be interested in your home, it's much easier to market your property to them.

I've done some research and come up with some statistics on who's buying homes in North Atlanta.

• 34% of our buyers are Millennials (age 34 and younger). This is creating a move-up market because they are buying starter homes, and then the sellers are moving up into larger homes.

• 27% of our buyers are 35-49 years old.

• 31% of our market are the Baby Boomers, who are 50-68 years old.

• Only 10% of our market consists of buyers that are 69 or older.

What does this mean for you? It means that you have a good chance to move up into a better home because of the push from Millennial buyers.With interest rates as low as they are right now, this is a phenomenal time to move up into a nicer, better home.

If you need help buying or selling in North Atlanta, please don't hesitate to contact me!

Is the Atlanta Market Slowing Down?

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One question we've been getting lately is whether or not our market is slowing down. We are here today to answer just that.

I recently attended a seminar where they told us that yes, the market is slowing down on a national level. What does this mean? Well, there are more homes for sale than there have been, homes are taking a little longer to sell than they usually do, and home prices are being affected as well.  

The thing is, the nationwide stats don’t mean a whole lot to us in Atlanta. What we want to know is the stats for the Atlanta market, and from what we’ve seen, we aren’t seeing that slow down quite yet.

Right now, we have 4,000 more listings than we did at the same time last year. We have also sold 8% more homes this year than last. As for prices, they aren’t flattening or slowing down, but remain at a steady, healthy appreciation level.

Selling real estate has always been and will continue to be a price and beauty contest. If your home has been on the market for 30 days or more or you’ve had more than 12 showings, know that you need to look at your price carefully to see if you are still in-line with the market.

If you have any specific questions for us, feel free to give us a call or send us an email. We can’t wait to hear from you!

What Does the Negotiation Process Look Like with Multiple Offers?

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Thanks for joining us again everyone. Today's topic is negotiation in a multiple offer situation, from a seller's perspective.

You've probably heard the definition before, but when you have multiple offers on your home, it means you have more than one buyer who is willing to submit an offer to purchase your home. When you get more than one offer, you need to look at different criteria to determine if it's the best move for you. What should you look at?

Well, the price is important, but not the only thing you should pay attention to. In addition to having a reasonable price, you should also make sure your buyer is pre-qualified to buy the home. Another thing to consider is the type of financing they are considering. A cash offer is a lot stronger than a loan offer, because a loan can always be denied. It's a calculated risk, accepting this kind of offer. 

Finally, look at the proposed closing date. If it aligns with when you want to be out of the home, it's a good offer. When all of these factors play together, the best offer will present itself, and you'll be able to choose it.

If you have any questions for us at all, feel free to give us a call or send a quick email. We would love to help out!

How Does Supply and Demand Affect Real Estate?

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Hey there again, thanks for joining me today. Our topic this time is supply and demand.

When we talk about supply and demand, we are talking about the number of homes available for sale relative to the number of buyers out there in the market. As buyers purchase homes, demand for them decreases. Conversely, if we don't have a fresh supply of buyers, the market slows down and homes sit there, stagnant. When homes come off the market, unless we have a fresh supply, things get a little lopsided.

Finally, what actually controls both supply and demand is interest rates. Interest rates demand that either you buy or don't buy. If they are low enough, buyers are going to buy no matter what. I'm not quite sure exactly where we are in the cycle at the moment, but the market is still strong right now.

If you are thinking of buying or selling, or know somebody who is, give us a call or send us an email. We look forward to speaking with you!

What Can You Do to Increase Your Atlanta Home's Sale Price?

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Last week we discussed what determines and who determines your home's price, and today we'll be speaking about how you can determine your sale price and increase it. I have four separate ways in which you can do this.

1. Make sure your home is in great condition. Make sure all of your landscaping is taken care of and fix any minor issues before they become problems for prospective buyers. When buyers look at a home they don't like to see broken screens, leaky faucets, or squeaky doors. Be proactive and repair these things so that you can rake in extra cash at closing.
2. Well-lit homes sell well. It's a fact. Open your windows and turn on all your lights. Buyers need to see the home that they're buying. 
3. Don't forget about potential odors. If you have pets, or if you have been cooking with more aromatic ingredients like curry or cabbage, be sure to neutralize the smells in your home. One trick is to bake cookies before a showing to fill the home with a pleasant smell. However, this can sometimes backfire, so aim to make your house scentless. Opening up all the windows in a home can help to do this.
4. Vacant versus staged homes can make a big difference. Some people like vacant homes and others like them staged a bit so that they can see what the property looks like when it's full of belongings. Statistics do show that vacant homes sell twice as well as staged homes, but it's really up to you to decide whether you want to move out all of your belongings. 

Hopefully, these pieces of advice can help you to put some extra cash in your pocket when you sell. It doesn't take a whole lot of effort to get more for your home, but if you need any assistance whatsoever, please don't hesitate to contact me.

I'm always ready to help you with your North Atlanta real estate needs!

What Determines the Price of an Atlanta Home?

Atlanta Real Estate Agent Melida Potts explains how supply and demand is the only factor that truly controls the price of your home when you're selling it on the market.

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Good day everyone, and welcome back. Today I am excited to talk about one of the most important topics in real estate: PRICE. Specifically, we want to answer the question: "Who determines the price of your home?"

To determine what actually affects the price of your home, let's take a look through the different people involved with the transaction, and see if they determine the price of your home or not.

• The seller doesn't, because if the buyer doesn't buy at their price, the home won't sell. 
• The buyer doesn't either, because the seller will just hold out for a better offer if you try to lowball them.
• The appraiser doesn't, because they are just looking at numbers, and not the amenities and extra features in your home that add value.
• The agent doesn't, because they want to get the listing and sell it at the price they think they can sell it for.

So, what actually determines the price of your home? Supply and Demand. This simple economic formula is what truly determines your home's price. Depending on how many homes are for sale and how many buyers are out there, that's what will determine the price of your home.

If you have any questions for us, feel free to give us a call or send us an email. We would be happy to help you determine what you can sell your home for in this market. 

How to Sell Your Atlanta Home After You've Bought a New One

Atlanta Real Estate Agent Melida Potts outlines the process of preparing your home to sell after you've already bought a new one.

There are many great Atlanta area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (678) 488-8927 for a FREE home buying or selling consultation to answer any of your real estate questions.

 

Today we are going to talk about selling your home after you have already bought a new one. This is a problem many people run into, and there's often a lot of pressure on you to sell your home quickly. The exciting part is over. Now the work begins. Here are 3 things you can do to accomplish your home sale painlessly and profitably:

1. Prepare your home for the market
This means making the house as pretty and attractive as possible to potential buyers. You'll want to de-clutter, de-personalize, and make things look as nice as you can without spending a lot of money.

2. Price it right
If you're stretching a little to make sure you don't leave money on the table, that's OK. However, if you haven't gotten any offers after 30 days, it's time to adjust the price a bit.

3. Unexpected repairs
These are mostly things that will come up during the inspection. Here are the rules of thumb for doing repairs:

• Repair it if you'd do it for yourself. 
• Repair it if it's something the next buyer will request for you to repair.
• Repair if it's something that does damage to the house.

With these thoughts in mind, if you've already bought a home and are looking to sell, it shouldn't be a painful thing. If there's anything we can do to help you out, give us a call or send us an email and we would be glad to help. 

Should You Buy First, or Sell First?

Atlanta Real Estate Agent Melida Potts reviews the pros and cons for both buying before selling, and vice versa.

There are many great Atlanta area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (678) 488-8927 for a FREE home buying or selling consultation to answer any of your real estate questions.

Recently, a lot of buyers have entered our market. It seems that they are all asking the same question, "Should I buy before I sell, or should I sell before I buy?" Well, let's go through the options, spelling out the advantages and disadvantages of each, and you can decide for yourself which to do. Let's get to it!

If you choose to buy before you sell, you have the advantage of getting to choose your home very deliberately. There's no pressure for you to buy, because you still own your current home. The disadvantage of this route, of course, is that you may end up owning 2 homes at once for a period of time. However, if you aren't married to your price, and prepare your home correctly, you shouldn't have any problem selling.

Now, if you choose to sell before you buy, the huge advantage here is never having to worry about paying for 2 homes at once, because you can make an offer on a home that is contingent on the sale of your current one. The disadvantage here is that the pool of homes you are choosing from may not be as large. You may also feel a little pressure to buy, especially if you have to be out of your home by a certain date. However, you should still see plenty of options to choose from in our market, especially this spring.

So, which one should you do? It depends on your own tastes. If you would like my thoughts as to what you personally should do, please give me a call or send me a quick email. After helping people buy and sell homes for 30 years, I have done everything and I have a lot to share with you.

When is the Best Time to Sell Your Atlanta Home?

There are many great Atlanta area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (678) 488-8927 for a FREE home buying or selling consultation to answer any of your real estate questions.

Thanks again for taking a look at my blog. Today's topic is all about home selling, more specifically, when the best time to sell a home is.
 
We have two major seasons here in Atlanta, spring/summer and fall/winter. The spring/summer market always has a lot more activity, but also a lot of competition for your home in a market that can become crowded. On the other hand, the fall/winter season does have fewer buyers, but also far less competition. Your home is more likely to stand out in this market.

So with neither season having a distinct advantage, when is the best time for you to sell? Well, we have 3 questions for you to answer before you make the decision.

1. When do you need to sell your home? 
2. Do you know what your next step will be after you sell?
3. When will the house be ready to sell?

Once you have answers to those 3 questions, you know it's time to sell. Don't wait too long, however. Interest rates on mortgages are expected to rise this year, and could affect what kind of buyers are out there in the market for your home.

If you have any questions, feel free to give us a call. We'd be glad to help you out however we can.

What's the Easiest Way to Get Approved for a Loan?

There are many great Atlanta area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (678) 488-8927 for a FREE home buying or selling consultation to answer any of your real estate questions.

In the past year, we have seen historically low interest rates and a ton of brand-new, low-down payment financing options for mortgages. While the rates are still low and affordable, the biggest hurdle some people have to overcome is actually getting qualified for a loan.

We want to make sure you get approved from the start, so we have compiled a list of 3 fundamental requirements that you will need to qualify for a loan. If you take care of these 3 things, there is a great chance that you are on your way to buying a new home. Here they are:

1. You must have a steady income, and no job changes in the last 2 years. 
2. Your credit score must be high. Generally, a score over 650 is good, but a lot of programs require scores in the 700's.
3. You need to be able to afford a down payment, which can be anywhere from 3% to 20% of the home price.

If you have any questions for us, be sure to give us a call or send us an email. We look forward to hearing from you!
 

What Wll the Market Look Like in 2015?

There are many great Atlanta area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (678) 488-8927 for a FREE home buying or selling consultation to answer any of your real estate questions.

Hello again, and thanks for joining me. Now that 2014 is over with, what do we expect for real estate in 2015? Here are four predictions I have about what we will be seeing in the real estate market over the year: 

1. Interest rates will remain low
I don't think the feds can, or will, increase interest rates by much this year, if at all. 

2. Inventory levels will stay the same
Builders are reluctant to build too much right now, and people who don't need to sell, won't. Levels may rise a tad, but only until the market is stabilized. 

3. Sales will vary by neighborhood
This one is a given, as homes in good school districts are going to have higher prices on them. 

4. Prices flatlining
Because we are seeing an increase in inventory, prices will likely be flatter than they were in 2014. 

Thanks for checking our blog today. If you'd like a report on what the market looks like in your specific neighborhood, make sure to give me a call, or send me an email. Thank you again, and happy 2015 to you!