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.

Buying an Atlanta Home? Search all Homes for Sale

Selling an Atlanta Home? Check out our FREE Home Value Report

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.