Real estate conditions here in the Greater Atlanta area are increasingly favoring the Seller side of the transaction. As of the end of April we had 2% fewer detached single family home listings than we had at the same time last year. This is contributing to a number of issues all attributable to low inventory. Certainly price point and location play a huge role in real estate; however, virtually all areas of Greater Atlanta are experiencing similar issues.
In many cases Sellers are receiving multiple offers on their properties. And it is not uncommon for the offers to exceed the list price. This requires additional due diligence by the sellers' agents to insure that the best offer is selected, and decreases the need for sellers to negotiate with buyers.
Buyers must be prepared to pay more than a home might be listed for, or to pay more than they would in a more normal market. Additionally, if selling and buying a home, sellers are reluctant to consider contingency offers that require the sale of a home in order to close. This may create the need for interim housing as one’s home may sell before they are able to close on another home.
With rapidly rising prices appraisers are struggling to keep pace with sales prices. This is resulting in an increase in appraisal rebuttals due to rapidly increasing prices and lack of data to support higher prices.
Real Estate Brokers & Agents
Agent’s must equip sellers for how quickly their home might sell, and must equip buyers for the competitive nature of the market place. Making sure they are aware that getting a great deal may mean having your offer accepted as opposed to getting a great value on the home.
Van Purser and his wife Jeanne are a licensed Real Estate Brokers in Georgia. Since1984 they successfully purchased and renovated over 400 homes. Their expertise is in representing Buyers or Sellers as an advocate; which means always ensuring their best interest. Additionally, they represented hundreds of clients over the years as an Associate Broker with Metro Brokers, RE/Max and now with his own firm. He and his wife, Jeanne, have been married since 1977. Van or Jeanne can be reached at 770-623-3313, or by email at firstname.lastname@example.org or email@example.com.