Justin Cary, Both Buyer and Seller in 37215

I just want to know from realtors or market watchers what Green Hills sales are looking like in the past few

Asked by Justin Cary, 37215 Wed May 7, 2008

weeks? What percentages are sellers discounting to move their properties?

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Hello Justin! Its Me, Mr. Condurelis, that doofus you've taken issue with the past 24 hours....I like your spunk! I am a horrible writer, and an even worse at describing value...so I'm gonna take another risk here... Justin, lets try this metaphor:
Let's say you fall desperately in love with this totally awesome girl.... and following the proper development of your relationship, ya'll decide to get married. Off you go to Genesis Diamonds to select THE ring. Money is no object. Your love and passion for this dreamgirl is endless. There are two diamonds in the case. Both are 2 carat diamonds. One is priced at $20,000.00. The other is $12,000.00. Which do you choose? Your salesman opens up a new bag of tricks offering that "cut", "clarity", and "color" make each stone worth its individual price. You say.....but why??? He says that a particular cut calls for far more skill, time, effort, and professionalism to pull off. She says.....WOW!...and you call foul..... He says that a canary yellow stone is a very rare stone and that makes it far more valuable....She says WOW! and you say....so what??.....He says that clarity proves that the stone is pure and has no imperfections...she says WOW! and you say....B.S.!! Who's right? Who's wrong? What do you do here? Justin, how much do you really love this chick, anyway??

Same way with a home......
Helping my clients make purchase decisions is just that way....what IS it truly worth to them? Some buyers' love junkers...(it means they get to spend their time, money, and emotions, fixing up a place and making it theirs)....Other buyers fly in from CA and demand virtual perfection, the finest of everything! Hmmm....lets say these two homes sit side by side.......one is priced at $1.5mil and the other $300k..... (and Green Hills is famous for this)....Who determines true value? What is true value? Bottom line is that only THAT seller and THAT buyer, on THAT particular day in question set value, by drawing up a contract they both agree to. Justin, as a realtor, I don't sell anything....all I do is manage conflict....or the potential for it.....
I help buyers and sellers decide what it is that provide joy in their life and then its up to me to help them get there...and yes, I get paid very well for doing that. I wish the bucket of diamonds (homes) in Green Hills was more standardized in size, quality, and fit and finish. Its not. Thats why I have a job....and its not often easy. Justin, Beware the "standardization" of value in a neighborhood of this quality...and when you move from here....and go to a similar neighborhood (example; Buckhead in Atlanta, Ga.) those will also be tough to "value". There just ain't no such thing. Dont allow anyone to tell you that, they will be off
Now, if you go to a neighborhood where all the homes are built by the same builder and offer basically the same amenities....that is a different story......lets tip our hat to the Stepford Wives! Its far easier! Am I making sense ?
How's your resident doofus doing?
1 vote Thank Flag Link Thu May 8, 2008
I'm glad I could be of help, Justin. Here's more of the facts you want.

From 3/1/2008 through current...
Residential single family
315 Homes are currently in competition to sell
65 Homes have seen a successful closing.
Sellers have received 95.1% of their asking price.
37 Homes are currently pending sale (which means all contigencies have be removed and there's a ~90% chance they will see successful close)
22 Homes have failed to sell and have expired
88 Homes have failed or had sellers change their mind and have withdrawn

Condominiums
210 Homes are currently in competition to sell
69 Homes have seen a successful closing.
Sellers have received 97.5% of their asking price.
33 Homes are currently pending sale (which means all contigencies have be removed and there's a ~90% chance they will see successful close)
43 Homes have failed to sell and have expired
66 Homes have failed or had sellers change their mind and have withdrawn
1 vote Thank Flag Link Thu May 8, 2008
Brian and Paul, that is the stuff I am looking for. Preferrably, it would be nice to have the past three months but I am more interested in the March, April, May sales stats compared to the winter months anyway. Paul, there are condos all over the place in green hills such as the entire left side of the road going into the mall area. Go past the mall and you get Burton Hills, those crummy new expensive ones called the Alexander , Jefferson Square, and Georgetown. I do think GH has great long term (5-10 yrs)potential with all the new stores, limited land availability, and proximity to downtown. The only problem is if prices get so unaffordable, your market for buyers continues to shrivel. Not to mention, credit conditions tightening doesn't allow even more people in the market.

If Mr. Condurelis has been selling real estate for 30 years in Green Hills and all he can give you is execuses for why he doesn't know the hard data, I really feel sorry for anyone who is represented by him. He probably thinks it was a great time a year ago to buy condos downtown or something like that. And don't give me that "its all situational to the buyer". Mr. Condurelis, I don't know you and I am sure you are a nice guy but you are not helping potential buyers and sellers on this website giving general useless advice. You give it out freely because its not worth very much if you ask me.
1 vote Thank Flag Link Thu May 8, 2008
Justin, Here are the facts I hope you are looking for. These statistics are based on closed sales from April 1, 2008 through May 1, 2008. Based on 11 closed residential single family homes, sellers are receiving 97% of the list price with an average days on market of 100. Prices ranged from (asking/closed) $294,900/$292,500 to $502,500/$502,500 to $1,595,000/$1,718,750. The last one looks like a preconstruction sale with upgrades.

In condo sales, same parameters, there were 16 closings. Sellers received 94.9% of their asking price with an average 85 days on market. Prices ranged from $179,900/$173,000 to $274,000/$274,000 to $599,900/$585,000.

So to answer your question directly, based on MLS statistics, between the dates of 4/1/2008 and 5/1/2008, single residence sellers are discounting their price an average of 3%, while condo seller are seeing successful closings at 5.1% of their desired price.

I hope this helps!
1 vote Thank Flag Link Wed May 7, 2008
Hate to break up a good discussion, but I think, in the general sense, the prices in GH are holding...First, there are very limited condos and "affordable housing" in 37215...I searched the sales recently, when I withdrew a $1.5M listing that there were 30+ months of inventory in this range...However, the interesting fact to me was that the AVG sale price in this area is still in the $900's Condo's, what condos?
1 vote Thank Flag Link Wed May 7, 2008
Ok, I understand that all real estate is situational but I am looking for someone that can tell me generally if asking prices of homes and condos are holding up well in Green Hills or are sellers starting to discount to move their properties. I don't want realtors telling me that its all about the location and so forth. Someone tell me something I don't already know and Mr. Condurelis apparently likes to give absolutely useless advice. Realtors like that should wear a ski mask to work because they are stealing money from pockets everyday.
1 vote Thank Flag Link Wed May 7, 2008
Did you ever buy something in 37215?
0 votes Thank Flag Link Wed Sep 15, 2010
Justin,
Here are the comparables for your property.

http://taxdata.realtracs.net/realestate/eval/Comparables.asp…

Sharon Wayman
Crye-Leike, Realtors
office: 615-383-2050
0 votes Thank Flag Link Wed Aug 18, 2010
Justin, wow aren't we a bit touchy!!?? Get over yourself. My point, which you obviously missed is that there is nothing that can be generalized about a market like Green Hills. After practicing real estate in Green Hills for over 30 years and selling thousands of homes I offer this information freely. Ask any appraiser that does appraisals in Green Hills and they groan....its too tough to get good available comparable sales because so many people are upgrading older homes, building poorly finished homes, or selling homes at a considerable discount to their kids.....I hope this expands on my answer to you. What ever your job is Jusin, I'm sure I'd not do it as well as you probably do. Good luck.
0 votes Thank Flag Link Wed May 7, 2008
All depends on the home, the location (beside I-440) or in Abbottsford? How about the overall condition of the property? What if it is in good shape but needs to be totally decorated? Are there pet stains all over the place? Did someone smoke in the home? Did dad sell his home to his kids at a steep discount and people think it is an arms length transaction?? Generalizations are a hugh mistake in a vastly differing market like Green Hills. Some homes were "well built" over 60 years ago, and others built just two years ago are falling down...........Visit lots of open houses, go online and check out all the pictures of properties now on the market, and above all, call an experieced realtor that has worked in Green Hills and knows where all the bodies are buried............Its your money, and you make money in real estate when you BUY a home...not when you sell it.
0 votes Thank Flag Link Wed May 7, 2008
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