The End of 2010 Shed Some Bright Light on the Market

The market still in flux, especially due to the effects of the end of the stimulus packages, the increase in distressed sales, and the resistance of buyers to act even though prices and interest rates have never been lower! These 2 slides get to the heart of the matter when I am consulting with both buyers and sellers...

We call this the Gameboard Slide - the goal is to get to the Green ($) Square, since that is where you, as a seller, want to be in the shortest amount of time, for the most amount of money that the market will allow. With 91% of properties in 4Q10 needing a price reduction, you can see what happens if you miss the mark (the right price) right off the bat. As home owners, we all feel that our house is the best on the block - you neighbor may be on the market for X, so you feel you should be on the market for $X +$1, right? The truth is, if your neighbor is on the market for $X, they more than likely haven't gotten it right because they haven't reached the Green square since they are STILL ON THE MARKET, so why do you want to be on the market for $X+$1? Take emotion and ego out of the equation and you are left with logic...

This is the American Idol slide - the red lines represent all those homes (folks) that feel they can sing, even if it's only in the shower; they think they are the best on the block. The blue equals the ones that are going to the finals because they can REALLY sing; they won the price war and the beauty contest, and made it to the Green Square. The Green Line represents a stable market - you can see how far we are from having a neutral market in terms of inventory. There are only a few buyers (blue) out there for a ton of houses (red), so it is important for sellers to price themselves right the first time to avoid that price reduction that has hit 91% of the houses listed. How do you as a seller get to the Green $quare - contact me for a free consultation!

Why Are My Property Values Dropping?

Here is a snapshot of the new Real Valuator, which provides invaluable information regrading all the real estate transactions affecting your own personal real estate market. It is based on homes from $50,000 - 2,500,000 with a 1-mile radius of the subject property.

The properties are color coded to reflect Active Listings (Blue), Pre-Foreclosure (Yellow - at least 90 days late), Foreclosures (Red - Have received a Foreclosure letter) Sales (Green - include For Sale by Owner), Bank Owned (Purple), and Gov't Owned (Orange). There is also a report that accompanies the map which details each colored pin, with the recorded history of the property.

Want to see what's happening around your home - contact me for a free no obligation consultation.

The 2Q10 Metro Atlanta Real Estate Stats are Here!

This is what we call the Bubble Chart. It is the finish line for all properties - either they have failed (withdrawn or expired) or sold, either with or without a price reduction. Sellers want the most money in the shortest amount of time on the market time; buyers are looking for a deal. What we want is a win-win for all parties - here is what that win-win looks like!

How we get there is up to you. Feel free to contact me on how to use these facts & stats to meet your real estate goals or if you would like to be added to my eNewsletter.

Until next time - take care!

Recent Changes in the Law That May affect your Real Estate Decisions

What is being done to protect tenants from the threat of their landlords foreclosing? Check out the latest information above.