Home Selling in Atlanta>Question Details

Lee Taylor, Real Estate Pro in 30030

Should potential sellers who have been reluctant to list due to the "slower" market, try to take advantage of the current supply/demand shift?

Asked by Lee Taylor, 30030 Wed Nov 7, 2012

This may sound contrarian, yet think this through...the downward pressure from distressed properties on selling prices for ALL properties has been somewhat offset by lower inventory, so this could be a better time to sell than in recent seasons. Furthermore, the reduced inventory of distressed properties has increased buyer competition for those properties making it even more important for sellers to consider them in properly pricing non-distressed properties, right? So, this Winter - should they or shouldn't they?

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Lee, I just re-posted a blog I did last year about the myth of waiting the Spring as the "best time" to sell. I think those of us who sell real estate full time intown have seen a paradigm shift that's starting to trickle into the suburbs: properties that are priced well, look great and marketed well are selling quickly, and many have multiple offers. Because there are still many who will wait for spring to sell, sellers should take advantage of the competitive advantage of selling NOW: As Veronika says, who knows how long these crazy interest rates will last?

http://www.trulia.com/blog/kirsten/2012/11/yes_homes_do_sell…
0 votes Thank Flag Link Sun Nov 11, 2012
If inventory is low and demand high it makes sense for a seller to list now. Rates are also low for buyers.

If seller wait for spring there will be more competition then, as many sellers are of the mindset that spring is the best time to sell.
1 vote Thank Flag Link Sun Nov 11, 2012
Great point, Lee!

There is nothing to wait for, but list now. All agents complain that they have no homes to show, scrambling info about pocket listings...

Also, who knows how if these rates are going to last till Spring. These rates have been pushing huge pool of buyers to market.

The only question for the seller to solve is...to find their next home ))
1 vote Thank Flag Link Wed Nov 7, 2012
What are sellers waiting for! This is a very good time to sell.

If you need to sell your home please give me a call today.
I can secure a qualified buyer for you!


Isabel Elsesser, Realtor - Full Time
First United Realty
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1 vote Thank Flag Link Wed Nov 7, 2012
Heck yeah! Inventory of well-priced homes, in all price ranges is very low. The law of supply and demand has shifted to the seller, so prices are moving up, if only modestly

Call your favorite Realtor, and get that home listed.

Best,

Dave Herren
404-425-4945
Best Atlanta Properties
1 vote Thank Flag Link Wed Nov 7, 2012
Absolutely! I have listed several properties in the past few weeks and we have had offers on all in less than a few days. And what "slower" market are you referring to??
1 vote Thank Flag Link Wed Nov 7, 2012
Thanks to everyone who contributed to this Q&A - good thinking!
0 votes Thank Flag Link Mon Nov 12, 2012
I agree, Veronika. The The first question that I ask a seller who says that they really, truly want to sell their property is "where are you moving to next?"

If a seller can't connect with some level of enthusiasm, or some level of relief, to the exciting idea of "where next" and "how soon will this chapter be over" then there might be a motivation problem.
0 votes Thank Flag Link Wed Nov 7, 2012
What are seller's waiting for?

Perhaps Trulia's greatest Georgia Voice has the answer - Hank Miller wrote a solid opinion piece about "waiting on the Spring market." Check the web reference, and here's a highlight:

"Listing inventory has been dropping for a while, significantly in the Atlanta market over the last year. Bank owned (REO) inventory has also dropped, but many say homes are being "held off the market."

Additionally, many cities including Atlanta are experiencing bulk REO purchases. Hedge funds, private investors, REITs and even individuals are buying homes in bulk, both off the MLS, on the courthouse steps and from liquidators directly.

The results include multiple offer situations, over list price sales and homes selling very quickly once listed. Another result is that some data can be skewed as a result.

Bulk purchases in East Point showing 99% sale to list ratios and 5 days on market have nothing to do with a “traditional” home for sale in Roswell.

This reinforces the importance of segregating the data and comparing apples to apples It also reinforces the need for an experienced and data centric agent that can collect and explain the data."
0 votes Thank Flag Link Wed Nov 7, 2012
Dave Herren is on point - I will say that some submarkets remain buyer's markets...

Examples: older condo, loft and townhouse properties across the metro area...distressed, newer construction (although a lot of these failed attempts have been snapped up)...Intown lofts above $250K...older houses in great neighborhoods with messed up floorplans
0 votes Thank Flag Link Wed Nov 7, 2012
I placed "slower" in parentheses because volume is down and many perceive that things are slower.

Velocity is not the problem - inventory volume is the problem.

I concur Lori - priced properly, now is the time for sellers.
0 votes Thank Flag Link Wed Nov 7, 2012
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