UPDATE:

In this market, would you take the risk of purchasing another home before selling your current residence?

Great advice from Bill: "Ones that are overpriced."

Great advice from Tania: "a home in a "bad" school district, a home that is over priced, not show ready, once where the sellers make it difficult for the buyers agents to make apointments and bring te buyers in to even see the house! "

And a good observation from (ready for this?) Eric: "an insiders approach at buying at a discount." He's a bit harsh toward Realtors, but there are many ways to find "deals."

Answering your specific question about the hardest types of homes to sell, I instantly thought: "overpriced." Even not-so-desirable homes (awkward layout, difficult commute, weak school district) will sell at the right price. So a seller has to price a home properly, and a buyer has to know the real value of a property.

There are some general "constants" that make a home difficult to sell. A poor school district usually is one. Bad neighborhood is another. Difficult/long commute is another. Poor condition of the property is another. Now, there are exceptions to all those: Someone without kids and never planning to have any won't care as much about school districts. A difficult or long commute doesn't matter if the person is going to work from home. Poor property condition is OK if the buyer is looking for a rehab property. But each of those factors will narrow the market for potential buyers.

Then there are local tastes. Look at the dialog between Jeff and J R. In some areas, buyers generally want and expect a certain style or room placement. What's popular in one area may be a very difficult sell in another area. That means you need a pretty good feel for what's popular and what isn't.

Finally, we get to Eric's strategy. I don't know his, specifically, but I'm an investor (investor/investor, not a Realtor who just buys and holds) and there are many ways to find good deals. A good, creative Realtor knows many of them. But there are deals out there that never appear on the MLS. The strategy, in brief, is to find motivated sellers. You'll find motivated sellers who own new homes and old homes. Motivated sellers who own updated homes and homes that have had no updates since they were built in the 1950s. Motivated sellers who are listed on the MLS and (many) who aren't. And there are hundreds of ways to find motivated sellers. Some investors use direct mail...and/or "bandit signs"...and/or car signs...and/or check the local courthouse for divorces...and/or check the local courthouse for landlord/tenant (unlawful detainer) cases)...and/or check the local courthouse for probate cases...and/or use pay-per-click ads on Google or Yahoo...and/or establish relationships with mortgage brokers...and/or establish relationships with Realtors...and/or make friends with their local mail delivery person...and/or put up signs/cards in their local supermarket or convenience store...and/or drive through neighborhoods looking for homes that don't look well maintained...and/or identify possible neighborhoods and then just knock on doors and ask whether the occupant is aware of anyone interested in selling a home...and/or put listings on Craigslist...and on and on and on.

So: Know the true values for properties (whether you're buying or selling). Know what strengths or drawback there are in the neighborhood. Know what the local tastes and preferences are. And deal with motivated sellers (when buying).

Hope that helps.

Hi Esteban,

My suggestion to you is to develop a list of must-haves, wants, and must-not-haves. Consider both foreclosures and standard listings that meet or satisfy most of your criteria. Whether you buy a fixer-upper or not depends upon how much work or money you are willing to put into a home. Are you going to end up spending just as much in the long run?

Your REALTOR should be able to help narrow your choices down and determine proper offer price ranges. Ultimately, though, you have to live there. What is going to make you happy, but still satisfy your financial concerns?

Best wishes,
Christopher Rich - REALTOR
William Raveis Real Estate
Your Fairfield County CT Real Estate Agent

Esteban,

The ones that are OVER PRICED !!!!!!!!!!!!!!

Esteban,

I noticed the answers seemed to go every direction here.

There are really only 2 points here:

1. A professional FULL TIME Realtor will be able to help you identify marketable properties. For example, when I show a home, the forefront idea is resell, because you will be calling in 3-5 years if statistics prove out.
2. Don't get caught up in "foreclosure" craze or too worried about updated vs. not - Look more closely at your situation and what you would prefer. If you get two homes that you like equally, then you can make the comparison.

Eric,
You are funny and apparently an angry person. Georgia is a very contractual state and not utilizing a REALTOR is a huge mistake, I have tons of nightmare stories from investors like you that I will not bore you with as you know everything according to your post. I do well thank you.

we have found that 2 story homes with the MASTER down are difficult.
~~~~~~~~~~~
Amazing how areas are so different. Where I am a story with a master down would be desireable.
I find contemporaries are presently the most unpopular.

Hello,

This makes me kinda sick...

I am a real estate investor who happens to live in California but is buying homes in Atlanta, Kansas City, Charlotte, and Indianapolis. Please tell me that it is obvious to you that these real estate "professionals" who are begging for your attention are hungry. No, that doesn't say it quite right. Starving... famished... no, emaciated. That's the word. Do yourself a favor and don't use any of them to buy your house.

I should shut up before I get too much hate-mail. You can respond with your e-mail if you would like an insiders approach at buying at a discount. I am not a realtor, I promise. Nor do I expect to profit from our conversations. I just happen to like dispensing information, and ...it makes me feel good to take food off realtors' tables.

EAW

Esteban. North Fulton has been holding up well compared to most of the nation. However there are properties that are good deals. Especially in new homes. FYI many new home developers have already discounted the asking prices. They may not be flexible there, but negotiantions may be had in quality of materials or free stuff.

I have negotiated deals on quite a few bank owned properties. Only a couple were stress free. There are deals to be found, but getting to the closing table is a different matter. Some of my clients have bid well above the asking price (well qualified buyers) and not gotten the property. Some because the bank accepted a lower cash offer. And a few the buyer got tired of waiting for the bank to reply, so they bought another property. Expect the bank to say there are multiple offers and you have a time limit to modify your offer.

Also just looking at statistics for 4 bedrooms in North Fulton can be deceptive. Since there is such a huge price range in house prices in our area. Homes can be found in North Fulton for < $200,000 to 6 million. This could skew the statistics.

I did some checking on the FMLS and if you eliminate the homes over $550,000, then the difference in Sold price is not that much, only a few thousand less. However the average days on the market was about 30 days longer.

I know of a home in Historic Roswell that is quite grand and a great deal. email me if you want details or some statistics from the FMLS: randy.ballard@metrobrokers.com

I feel that short sales or foreclosure are difficult to move: Several factors apply to this. 1. lenders are trying to recover more of their losts and are not as fexible as a seller. 2. Most of foreclosures have too much damage and buyers submitt low offers.

Currently Short Sales and Foreclosures are near impossible. If that's not your desired answer, we have found that 2 story homes with the MASTER down are difficult.

Good info, thank you. At this time, I'm generally not looking at anything seriously that hasn't been sitting for at least 90 days.

All of the other agents have answered your question as far as relaly needing to take advantage of hiring a professional to work for you, not the seller of the house you are trying to buy. I live and work in the Roswell area. Both Roswell and Alpharetta are known for their excellent lifestyle offerings as well as exceptional public school systems. Your question asked about the hardest type of homes to sell: well, a home in a "bad" school district, a home that is over priced, not show ready, once where the sellers make it difficult for the buyers agents to make apointments and bring te buyers in to even see the house! A house that has not been maintained and that is picked up and cared for. These days with the huge amount of inventory and the increased days on market, the house has to be positioned perfectly to generate activity, and then SHINE once the potential buyers are actually inside that home. It sounds like your question was about selling a home, but that you are also looking to buy a home. For resale value, always consider the school district, subdivision, immediate/neighhboring homes/subdivision, etc.
I am very knowlegeable regarding the Roswell area since I do the majority of my work here and I am involved in the community here with my kids in the schools and I live in Roswell. It's a great place to live and raise a family. We have some great restaurants, shopping and downtown/social activities. If you have children the Roswell Recreation center has fabulous sports activites and camps for summer!

Please call or email me directly. I would love to help you find the perfect spot! If you have a home to sell as well, I would love to interview for the job. I have a lot of energy and even more passion for real estate! I love the business and love to help people with their dreams.
Please call or email me today. I'm here to help.

it's the perfect spot!

tania gardère macleod
Harry Norman, REALTORS
North Metro Office
W 770.518.5550 x132
C 404.964.2267
F 770-518-6955
E-fax 404-497-5368
E tania.macleod@harrynorman.com http://www.itstheperfectspot.com

How much is a potential seller concerned that buyers seem to be drying up? Mortgage rates are headed in the wrong direction PLUS the banks have tightened lending restrictions again as recently as last week.

What advice are you giving your sellers/listings, particularly those who need to sell or face foreclosure? Is there a pinch being felt?

Is the information here on Trulia not accurate? It shows week-to-week that sales (home closings) have rapidly deteriorated in Roswell and Alpharetta (probably other areas too, but I'm not focused outside those areas).

Take a look at these numbers:

No. Bedrooms Mar-May '08 Dec '07-Feb '08 Mar-May '07 Mar-May '03
1 bedroom -- -- -- 3
2 bedrooms 30 38 62 83
3 bedrooms 141 153 265 247
4 bedrooms 158 185 335 382
all 379 432 758 871

In a nutshell, total sales in Alpharetta have dropped from 758 to 379 from a year ago, while prices have declined over ten percent on average, again year over year.

To be honest, I'm anxious about the recent hike in mortgage rates - up 50 basis points in just the past week! That's $150/month (6.0% vs. 6.5% - 30yr fixed) extra on a 450K mortgage...just in interest.

You definitely need to work with a professional realtor to maximize your potential purchase. As a native of Atlanta and recently relocating to Texas I am familiar with the market there. I would make the comparisons of several homes you are looking at; forclosure and a property that already has the essentials you are looking for. You and your agent can view the pros and cons of both.

I am in the process of purchasing a forclosure. I have purchased 2 new constructions in the past and haven't found half the deals of the forclosures or resales to date. The realtor incentives are good, but the forclosures are better. Its really a matter of what you are willing to do. If you don't mind a bargain and adding alittle carpet and a few cosmetics to purchase a 500k house for 400k (just throwing some numbers out there) hey go for it take the extra money you were willing to spend and fix up your forclosure. However if you don't want to put in the work then your best buy would probably be for a house already "move-in-friendly" Get an agent view those homes from the inside....it doesn't cost you a thing!

Esteban,

I'm a buyer's agent in the Roswell & Alpharetta area. There are all kinds of deals on the market in every catagory. It just depends on what suits your needs the best.

Many builders are offering fantastic incentives and are slashing prices and others are not. Foreclosures are not great deals just because they are listed as a foreclosure.

The best way to know that you are making a sound decision is to work with a buyers agent regardless if it's me or not. A good buyers agent will gather the data you need to make a good buying decision and will negotiate the best deal for you. The seller pays the commission so this is a free sevice to you. Why not take advantage of it?

James Dudley
ERA Sunrise Realty
james.dudley@era.com
678-781-7418

Hi Esteban,
It is a fact, home prices have fallen off in the past year, but we are seeing a stabelizing of the marketplace. Mortgage rates are on the rise (today between 6.5 and 6.75%). So, many buyers hare taking advantage of the current low prices and betting really great "deals". Several professionals in the mortgage and financial industries are of the feeling that we have reached the "bottom" of the Atlanta market. 2 buyers that I am working with submitted offers on homes that had multiple offers at the same time.

As for the updated / not updated concern, this is a question you really have to answer for yourself. It may be possible today to purchase a home already "updated" to your taste at a reasonable asking price. While, you may get a better "deal" on a home needing work, the time, money and effort may not prove to be worth while.

As Jim said, it is probably in your best interest to work with a knowledgable buyer's agent to help determine the best home for your family. Please feel free to contact me with any questions about the Roswell / Alpharetta area.

Jolie Abreu
Keller Williams Realty Consultants
(678) 894-4409

Make a buyer's agency agreement with a REALTOR member of the MLS. It will cost you nothing and you will have access to a pro who can answer your questions.

See the following for validation of my advice: http://www.hud.gov/buying/comq.cfm