New Trend with Atlanta Sellers

Atlanta sellers are teasing me.

Hello. I found you on the internet.

My house at 123 Anystreet is for sale. The listing number is #1234567.

I am offering a 4% commission to the agent who brings a buyer before the end of the month.

Curiosity compels me to investigate. Every time.

What I discover - every time - is the seller hired a flat-fee broker who listed the property in the multiple listing service. And, the seller priced the property without regard to current market conditions, or the most recent sales data.

Today’s carrot dangler seller over-priced the property by $25,000.

My response is always the same. “Homes that are target priced, and in showcase condition are selling. Why do you think your house has not yet sold?”

Sellers take note: Target priced houses in showcase condition are selling.

Photo Credit:HansKristian

MLS Moments

Tonight’s review of mls activity - homes for sale in North Atlanta, pending contracts, closed sales - is reported in the table below. Do you like the new display?

The numbers are compiled by me (not the multiple listing service) using the same geographical area we started tracking in 2005 - marking the beginning of the downward trend in the real estate market.

This week I included data from the same period in 2006 and 2007. You can see the significant drop in the number of houses sold since May 18, 2006. And yet, the average sold price has dropped only a slight margin since 2007, and is higher than 2006.

I included information for subsets of the larger market area:

• Marietta / East Cobb zip codes 30062, 30066, 30068, 30075, and 30339
• Roswell / North Fulton zip codes 30075 and 30076
• Alpharetta / North Fulton zip codes 30004, 30005, 30022, and 30097.

The average price for current listings has a wide spread between East Cobb and Alpharetta. My colleague in Johns Creek offers insight on the variation.

Sellers take note: homes are selling at 2006 prices.

MLS Market Report - May 19, 2008

	2008	2007	2006	East Cobb	Roswell	Alpharetta
Current Listings For Sale	8146			1699	821	2122
Average List Price	591,701			499,161	602,640	738,014
Under Contract - Pending Close	1030			227	106	249
Avg List Price	392,321			399,064	364,455	504,212
Time on Market	82 Days			71	82	81
Closed Sales - Year to Date	2053	3629	3979	501	233	506
Average List Price	386,576	383,268	360,205	369,221	383,782	483,157
Average Sold Price	367,979	372,014	350,672	350.603	367,750	462,189
Time on Market	92 Days	73 Days	64 Days	82 Days	81 Days	95 Days

Related Posts: MLS Moments

10 Tips for Selling Your House in a Tough Atlanta Market

Selling your house in the Atlanta real estate market today can be tough. And yet, houses are selling every day to buyers in every price range.

In our Why Isn’t My House Selling? series, we are exploring ways to get your house sold. A few days ago we looked at photos. Today we are examining condition.

Think about it.

When you are getting ready to sell your car, what are the first items on your to-do list?

• Wash and wax.
• Empty ash trays.
• Throw away fast food bags.
• Spiff up the dashboard.
• Clean puppy nose prints from windows.
• Spray Febreeze.

A quick run through the gas station car wash won’t get the job done. Review the 10 tips for selling your house outlined below, pull out the chamois cloth and Turtle Wax for a full detail job.

1. De-Clutter:
This one is simple, yet time consuming. Clean out and throw away; inside and outside. How we “live in a house” is not the same as “how we sell a house.” Personal items - too many family photos, religious icons, magazines - are distractions to the buyer.

2. Repair
Buyers expect everything to be in working order - dripping faucets, broken windows, stained ceilings - lead the buyer to ask, What else is broken that we can’t see? Buyers also overestimate the cost of repairs.

3. Lots of Light:
A dark home with all of the doors and windows covered is not appealing. Open window shades to the top of the sash. Let the light pour in. Fresh air beats room deodorizers.

4. Clean Windows:
Buyers want to see the view from every room - don’t make them look through puppy nose prints.

5. Kitchen and Bathrooms:
These are the most important rooms in the house. They must be spotless and first class.
You need to “deep clean” all counters, floors, cabinets, and fixtures. Consider new hardware, lighting or counter tops - perhaps redoing the shower and tub enclosures. Make sure all grout is free from grease and dirt.

6. Odors:
Absolute deal killers are cigarette or pet odors. The drapes, carpets and furniture must be professionally cleaned. Do not smoke in the house. Some cooking odors can be overpowering. A little lemon oil mixed with water in a spray bottle will add just a bit of freshness.

7. Paint:
A fresh coat of paint on the outside or inside is an excellent way of preparing your home. Be sure to use neutral colors and avoid accent painting. In most cases, use a professional painter. The visual difference is obvious, and the work is completed in a shorter time period.

8. Yard Work:
Everything in the yard needs to be trimmed, watered, and manicured. Remove dead plants, sports equipment, boats, trailers, and toys. Add seasonal color with planters. Curb appeal is a critical “first impression.”

9. Furniture:
Less is best. If it’s old, worn or dated, put it in storage (not the garage). Remember, you are setting a stage and the actor needs to be the house - not your decor, accessories, or furniture.

10. Flooring:
Hardwood floors can be a huge plus - unless they are scratched, stained and worn. Threadbare carpet, or carpet in strong colors, can be a deal killer. Make the investment to professionally refinish hardwood floors and replace the carpet.

Remember, you are competing for buyers looking at many comparable homes in the area.

They arrive at your doorstep with a strong sense of what is on the market, and want to perceive value for their dollar. Detailing your house to be “show-room ready” is one of the best ways to get it sold.

Related Post: Why Isn’t My House Selling?

Photo Credit: Anderson Silva

Alpharetta Home Sells in 21 Days

Buyers are buying and sellers are selling. The average number of days a house is on the market in North Atlanta is 92. And yet, this Alpharetta home sold in 21 days!

What do you think the sellers did to make that happen?

Was there some special secret the agent used?

HINT: This is not a foreclosure.

Suggest the top 5 marketing tools in the Comments.

The first five to comment get fun treats sent their way.

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