March Highlights
* 14% increase in available inventory from February affecting every price level except over $3 million.
* Distress sales (foreclosures or short sales) continue to make up more than 50% of all pending sales.
* Average days on market (time required to sell) fell 15% from February.
* Volume of closed sales increased 40% from February.
It’s that time of year again. Time for me to step out on a limb and make a few predictions about what events, trends and topics will impact the Buckhead real estate scene in 2011.
Buckhead homes, and those in high-end areas such as Sandy Springs, Brookhaven and Vinings, are experiencing the ills of the housing market just as wealthy communities across the nation are.
What many home sellers don’t realize is how detrimental repeated price cuts are to selling quickly – and for top dollar. The best opportunity for you to sell your home for the maximum price is during the first few weeks it is on the market. For ultra-luxury homes, this may be the first few months. This is when the listing is new and generates the most interest from agents and buyers who may have seen everything else on the market at a comparable price. If your home is priced properly, it will attract maximum interest. If your home is overpriced, you may get showings but no offers and certainly no repeat visitors. The longer your home sits on the market, the more difficult it will be to obtain your desired price.
I love gadgetry. And when it enables me to provide better service or value to my clients, I really love it. Enter MobileZen, the brainchild of former Atlanta attorney, Lawrence Kasmen. MobileZen allows us to create robust, yet very fast loading, web site of your home. And here’s the best part; no more empty flyer boxes! Instead of old-fashioned paper flyers, potential buyers can quickly access your mobile web site using their smart phone. They can view photos, video, details about your home and even download useful documents such as the Sellers Disclosure Statement and more.
There’s no doubting the fact that the Buckhead real estate market is competitive. But if you are trying to sell your home, don’t despair. Take a deep breath and follow a few simple steps that will make it much easier for you to get an offer on your home.
There may be nothing so sacrosanct in Buckhead real estate as the open house. But, upon closer inspection, do open houses fall within the boundaries of productive marketing or seller appeasement?
Since we were young, we’ve all been told, “You never get a second chance to make a great first impression”. That was good advice then and it’s still particularly appropriate when it comes to presenting your home to potential buyers. Here are several simple things that can help make a great first impression:
Buckhead home sellers often ask me what they can do to help their home stand out in an oftentimes crowded market. Aside from proper pricing, home staging has the biggest impact on potential buyers. Not to be confused with decorating, staging is designed to remove the sellers’ personal connection to the house and target the buyer who will purchase your house.
Could you imagine a luxury car dealership like Mercedes-Benz or BMW pricing, then placing a trade-in on the lot without first checking it out to see what might be wrong with it? Well, it happens every day in the Buckhead real estate market.
Several years ago, Forbes published an article identifying five reasons why an unsold home is likely overpriced. Their insight is as relevant today as it was when the article was written.
Like any good shepherd, my job is to make sure you are not led astray when selling your Buckhead home. This is especially true when you are establishing a listing price.
The conventional wisdom is that the agent will prepare a Competitive Market Analysis, or CMA. Buckhead real estate offices have all varieties of software that yield impressive looking presentations but the end result may be more harmful than beneficial.
Conrad Lyles broker, Greg Lyles, represented the sellers of this recently built home in Springlake. The home had been listed with another firm for several months before Greg took over the marketing. “Our first step was to have the home appraised and inspected”, he stated. “That enabled us to immediately know where our target price should be and what repairs to make.” Once the repairs had been made and a new price established, showings increased dramatically.
Harry Norman Realtors Associate Broker Greg Lyles represented the sellers of the lot on Mount Paran Road where this speculative home was built. The property was sold to North Atlanta Properties in one day for the full list price. Additionally, the property was sold without another agent, saving the seller over $20,000 in commissions. To [...]
Harry Norman Realtors Associate Broker, Greg Lyles, represented the seller in the sale of the lot where this custom home on Lake Forrest Drive near Chastain Park was built. The lot was sold in one day and without another agent, saving the seller over $20,000 in commissions. To discuss the sale of your home, call Greg Lyles at [...]