Tips to Help You Prepare Your Home to Sell This Fall

Earning top dollar from your fall home sale means following these important tips.

If you’re preparing to put your home on the market this fall, there are a couple of important steps you need to take in order to earn top dollar for it. First, don’t make your home look like it’s still spring outside. In other words, use the fall foliage—it works just fine for a fall sale.

Fall foliage works just fine for a fall sale.

Inside, make sure the home’s paint and flooring look nice and crisp. To hear my full message about how to prepare your home for a fall sale, watch my latest video.

This 3-Point Checklist Will Tell Us If We Are in a Bubble

Are we in a housing bubble? There are three indicators we must look to when considering this question.

Today I would like to focus on a question I am asked all the time, which is:
“Are we in a housing bubble?”

The important thing is that you, the seller, are able to accept an offer
that fulfills your wants and needs.

There are actually at least three requirements that must be met for a housing bubble to occur:

1. There must be low inventory. As you have likely noticed, this is a factor in our Atlanta market

2. Prices must be rising. Once again, this is something that has been the case for our
local market lately.

3. There must be crazy loans. Fortunately, this is not true for our area. At least, not yet.

Overall, the bottom line is that you should not worry about a housing bubble for now. But it is a
great time to list. You could get a fantastic deal for your home if you sell right now.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

What Should You Do When Your Property Receives Multiple Offers?

Today I would like to review a three-step guide on how sellers can navigate a multiple offer situation.

In a hot market like what we are seeing today, multiple offer situations are very common. It takes
just days for a property to see three, four, or five or more offers. That being said, how can you handle
these circumstances as a seller? There are three steps I recommend.

1. Identify the situation. When your home has just been listed and your agent is already receiving calls
after call inquiring about the property’s availability, it is a good sign that multiple offers are in store.

2. Set a time limit. Such a high level of competition over your listing may seem overwhelming, so the
best way to proceed is by setting a time limit. This will give you the chance to review and compare
offers.

3. Choose the best offer, not just the highest. While the highest-priced offer and the best offer are
usually one in the same, this is not always the case. The important thing is that you, the seller, are able
to accept an offer that fulfills your wants and needs. And because multiple offer situations can result in
bidding wars, it is important to make sure a potential buyer will be willing to make up the value
difference in cash in case the property does not appraise accordingly.

The important thing is that you, the seller, are able to accept an offer
that fulfills your wants and needs.

If you have any other questions or would like more information, feel free to give me a call or send me
an email. I look forward to hearing from you soon.

ATL real estate continues to build momentum after a watershed year in 2013

The most notable change in our real estate market began sometime in October/November of 2012 when, all of a sudden, we started seeing a leveling in our market. Statistics were finally showing promising trends, indicating long-awaited stability and steady activity.

Just a few months later, in the early part of 2013 our market did stabilize for the most part and we started seeing month-over-month stats climb. Year-over-year statistics skyrocketed. In fact, the market shifted before the end of the first quarter and we enjoyed such unprecedented sales volumes and spikes that many of us in the industry had the best year of our careers.

Low Interest Rates Sparked Market Activity and Low Inventory
During the depressed market that took over our housing industry in 2008 and the years that followed, the Fed diligently worked to keep interest rates low so the economy would continue to surge. Also, market activity increased and inventory levels went down significantly.

Strong Consumer Demand Helps Spike Median Home Prices
Today, we are dealing with an extremely scarce number of homes available for sale, both nationally and locally. For this reason we remain in a positive market driven by strong consumer demand. More prevalent in some areas where there are good traffic patterns and strong buyer interest, prices are going up dramatically. Conversely, other areas where there may be less demand there is some lagging behind which is causing prices to either stay steady or not go up much.

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To learn how your specific area is doing in terms of price increases and market recovery – contact us today! We will take an in-depth look at your local neighborhood and study the activity, evaluate the marketplace and see how we can help you achieve your real estate goals!

Call or email us today.

770 396 6100 - main office
678 488 8927 - Melida’s cell
Melida@PottsRealtyInc.com

Happy New Year!

Happy 2014! Last year was a great time for the real estate market and you may be wondering what's in store for next year. Well, here's what's happening now. Interest rates are still at 4.5%, but they are predicted to increase!

We are also still at a 15 year low in inventory. That means now is one of the best times to sell. The holidays are over and there are buyers looking for a home. The problem is there are very few options for them. They need your home!

Give me a call today! Thanks for watching!

What to Expect from 2014

Can you believe 2014 is almost here? Before we start looking ahead, let's go over what happened in 2013.

First, we saw historically low interest rates despite the increase in May from 3.5% to 4.5%

Second, inventory is still at a 15 year low. Buyers do not have much to choose from.

Third, in the overall market, we've seen a slight decrease in sales, but for our team, we've seen an 80% increase! Thank you so much for your support. Without you, none of this would be possible.

If you have any questions, please give me a call today. Have a safe and wonderful holiday!

Small Things That Can Make (Or Break) Your Selling Success

Small Things That Can Make (Or Break) Your Selling Success

When people decide to sell their home, you might think that it is a matter of connecting with a Realtor®, placing the listing on the MLS and then waiting and watching for an offer to come in. That does pretty much sum it up in a nutshell but there are some important things to consider in the interim that, if the homeowner is not mindful of, could jeopardize the sale. Here is a look at four seemingly little things that could have a big impact on whether or not your home sells well.

Motivation
Until and unless you are motivated to sell your home, there is a strong likelihood of things not going well. If less than fully motivated, some people may not do all they can to present the home in its best light or be accommodating to buyers’ requests to see the home. Furthermore, homeowners that do not feel pressed to sell their home do not take the time to prepare their home, declutter or update the space as would be necessary to attract a good pool of buyers.

Flexibility
Any homeowner that is currently trying to sell their home will say that it is not an easy feat to continue with daily life while constantly preparing the home for showings, leaving when necessary, allowing their agent to host open houses or keeping up the home while it’s on the market. These are all things that require a fair amount of flexibility and without that flexibility there is a fair amount of risk. The risks include a much slower process to get the home sold or worse yet, the home not selling at all! You can be flexible on things other than price, such as closing date, other terms or seller concessions.

Discretion
This is a very important aspect of selling a home that too many people neglect to realize. Whether casually discussing the motivation of your sale to coworkers or mentioning details of a contract underway to someone in the family – disclosing details can and do pose a threat. It is critical to keep confidential terms of the contract and other things that may have an impact on others’ perception.

Stay Neutral
When you set up your home, try to imagine what buyers will be thinking as they walk through. Is there so much personal stuff that they are unable to see past it and envision their own lives in the home? Do brightly colored walls or outdated wallpapered walls hinder a buyer’s ability to see their own tastes fitting in? Be sure to heed your real estate agent’s advice when they share insight as to what buyers would likely respond to.

For more tips on how you can successfully sell your home for more money, in the least amount of time with as little hassle possible, contact us today! We look forward to helping to sell your home!

How to Get the Most Money on Your Home Sale

Welcome back!  If you’re getting your home ready to sell, it’s important to know how to appeal to buyers. What is it that they want to see when they view your home? Here are three important elements of preparing your home.

1.    Paint. You’d be amazed at what a simple coat of paint or touch up does for a home. Remember to stay neutral.

2.    Wallpaper and floor coverings. If you have wallpaper you need to either remove it or paint over it (depending on the condition). If your carpet is worn down, it’s time to replace it. Don’t worry we know some vendors who can help you for a very inexpensive cost.

3.    Landscape. You don’t have to plant all new bushes, just have a well-kept lawn. Trim the bushes, mow the lawn, etc.

These are three easy tips that have a huge impact on the appeal of your home. If you have any questions, please give me a call at 770.396.6100

Thanks for watching!

3 Reasons to Sell Now

Welcome back to my video blog. I have had a lot of people ask whether now is a good time to sell or if they should wait until next year. If you can get your home on the market now, it’s the perfect time for three reasons.

1.    Interest rates are still historically low. While they have increased a bit in the past couple of months, they are still a phenomenal rate.

2.    A lot of people are taking their home off the market during the fall months. That means less competition for you!

3.    In the last quarter of 2012, 7,531 homes were sold. Buyers are motivated to buy during the fall months.

Give me a call so we can get your home ready to list! Thanks for watching!

Selling Your Home During the Fall

Welcome back to my video blog! A lot of buyers and sellers have asked me is it too late in the year to sell?

Well, I have four points to consider when getting ready to sell your home.

1.    Weather: We’ve had a lot of rain lately and it has caused some delays in our market.  The activity that normally happens in May and June has been pushed back to the earlier fall months.

2.    Schools: Yes, school is back in session, so many of the families who were looking to move before then have already purchased their home.

3.    Supply and demand: We have a shortage of inventory, which puts your new home in high demand!

4.    Financing: There is plenty of financing options for buyers to purchase your home.


These are just a few things to consider if you are thinking about selling your home now. Of course each situation is different, so if you would like more help or have any questions, please call me at 770.396.6100! Thank you for watching!

Where are interest rates headed?

Hello again! Welcome back to my video blog!

This week’s theme is increasing interest rates. The recent jump has had a lot of people worried.

Rates have increased by about a point, 3.5%-4.5%. This is a jump, but those of us who bought homes in the ‘80s, we saw interest rates as high as 14%-15%. So 4.5% is still a fantastic rate.

Now, where are interest rates headed? Will they come back down? We really don’t know the definite answer.

If you have any questions about your home or your neighborhood, please call me.  I would be more than happy to help!

Seven Things You Can Do to Help Your Appraiser Come Up With a Strong Number

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These days, a lot depends on how an appraiser thinks your home (or the one you are purchasing) is valued. Whether you are having an appraisal done to appease the lender for a new purchase or if you are getting your existing home refinanced – it is very important the numbers line up. If the sale price/refinance amount does not line up with what an appraiser thinks the home is valued at – you can expect to face some pretty hefty challenges.

So to help make the appraisal process as positive and frankly, as much in your favor as possible, here are some tips to get the ball rolling in the right direction:

Request a Local Appraiser
Lenders commission independent companies to go out and evaluate homes, then provide them with reports. Many of these companies are regionally based or in some cases national firms. By requesting your lender to hire a local person, you can count on that appraiser to provide a more accurate number.

Don’t Hesitate to Make Their Job Easier
Provide as much information as possible, including area comparable properties, well-documented evidence of all improvements made to the home and other helpful items such as blueprints or recent surveys, etc. Not only will this make their job easier, but also it will help to support your case on why the home should be valued higher than if they did not take those things into consideration.

Renovate and Remodel Carefully
Whenever considering a remodel project on your home, consider the potential return on investment for each project. By far, kitchens and bathrooms yield the strongest return on dollars spent for improvements.

Keep Up-To-Date With Citywide Improvements
If you know of any new developments, projects and citywide improvement schemes, share them with your appraiser. Current knowledge of these things will only help to enhance your appraiser’s valuation of your property, keeping in mind that these things typically bring up the value of a home.

Pay Attention to Your Surroundings
Just like a homebuyer or anyone else that walks through a home, there is a lot to be said for perceived value. An easy way to steer your appraiser’s attention to the more attractive features of your home is to be careful not to let them be distracted with unsightly aspects. Keep your spaces clear, clutter-free and updated. Most appraisers do not spend too much time in a home and first impressions can do a lot to influence an appraiser’s opinion of a property.

Don’t Hover But Be Available
In case the appraiser has any questions, it is a good idea to be around to be able to answer them. But it is just as important not to hover and crowd around the appraiser, rather give them space to do their job without feeling cornered. They will appreciate this and also likely be more lenient when not stressed during an evaluation.

Know the Difference Between Above and Below Grade Square Footage
Just as certain improvements to a property yield a higher ROI, it is important to keep an eye on value as it translates through above grade changes verses lower level enhancements. In other words, keep in mind that a finished basement will get you a certain percentage back on the money you put into it, but the end value will not be impacted as much as had you expanded the main levels of the home.
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Keep in mind, as our housing market continues to improve – we will tend to see more and more appraisals that may not reflect upon the current trends. This is primarily as a result of them using past sold data that may easily be a fair amount off from today’s prices.

For help with finding good comparable properties, rather than relying on outdated data from the Internet, contact us today. And as always, we welcome the opportunity to serve your every real estate need.