I currently own a 7 bedroom, 3 bath 2 story home in Woodstock, Ga. I'm thinking about putting the house on

Asked by Lindsey Locke, Woodstock, GA Sun Feb 3, 2008

the market, but I'm not really sure if I would be able to get my asking price. I'm in a complicated family situation, and putting the house up for sale would ruffle some feathers, so I would have to be sure to sell it if I went through with listing.

So, does anyone know what the market is doing on Woodstock? Would it be smarter for me to wait a year or two? I wouldn't mind making off with even only $15k in my pocket after all is said and done, and I've owned the house for 4 years.

Thanks for any advice you can give!

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21
Deryk Harper, Agent, Alpharetta, GA
Mon Feb 4, 2008
Hi Lindsey,
If you decide to interview agents, to find out if you can sell you home for the price you need, I recommend interviewing several. Find out how many listing they have sold in the last year in your area, what percentage of their listed homes DID NOT sell, their average time on the market for sales and their list price vs sales price ratio. Ask them what they are doing differently to market and sell homes in this Buyers market. Then ask them if the honestly think your home will sell for you asking price.

As Joshua stated, if they don't think they can sell it for your price they probably would not offer to list it in this environment. No good agent wants an overpriced listing that just sits on the market, wastes the Seller's time/money and costs the agent money in time and marketing.

I would recommend Julie Shelton of Keller Williams Realty to interview. Her direct number is (404) 245-1824. Julie, and her husband Dan, are a top team in their Canton/Woodstock office and would definitely give you an honest opinion about the marketability of your home. Their website is http://jshelton.yourkwagent.com/ . Good Luck
Web Reference:  http://www.keyhomefinder.com
4 votes
Lorie Gould, Agent, Duluth, GA
Sun Feb 3, 2008
I am an Atlanta agent; however, I do not work the Woodstock market but I have some very close friends who do. Their properties are selling and within a reasonable amount of time. It is not unphased by the market. You simply need an aggressive and honest agent to communicate with you the best strategic price.

Supply is up all over the Atlanta suburbs but properties are still selling when they are positioned correctly and with the right agent. I would be more than happy to provide you with friends name who live and work the area. One is with Keller Williams and the other with ReMax. They both have many years of experience within the business and both are top producers.

Best of Luck!
1 vote
Serena N. Br…, , 46408
Sun Feb 3, 2008
Have an agent in your area do a CMA on the property? CMA is a comparative market analysis. The agent should provide this for you for free.
1 vote
Deryk Harper, Agent, Alpharetta, GA
Sun Feb 22, 2009
Hi Lindsey,
January sales data for metro Atlanta is in.

Agents' comments below are correct for the most part. The stats for your area are much better than the overall metro Atlanta area. Based on the last 12 months sales data, there is anywhere from 4.1 to 20 months of inventory for resale single family homes under $300,000 & much higher for homes over that price. The lower the price range the better the stats . Average days on the market for under 300k homes range from 60 to about 90. This is all good.

If we look at just January's data that's also good. For residential detached home sales in areas 112 & 113 (South Cherokee east & west of 575) there were 87 closed sales. 472 new listings also came on the market thus increasing the available inventory. Average days on market for those sales was 84 west of 575 & 124 east of 575. While homes are taking longer to sell they are still selling. It is worth noting that there were also 274 listings that expired WITHOUT selling & another 80 that were withdrawn from the market without selling. Subtract that from the new listings & we have an adjusted 118 new listings. Many of these "new" listings are expired or withdrawn listings that have "relisted". Average sales price was $196,512 west of 575 & $255,421 east of 575. Sales price to list price ratio was 95.6% east of 575 & 92.5% west.

This was just posted on our multiple listing service this past Friday. It will give you an overall picture of metro Atlanta & it is not very good.

We are starting 2009 the way we left off in 2008. There were 2,520 closings for all single family housing in January or a decline of 24.3% from January 08. We would have to go back to January 1998 to find a month with less closings than we had in January.

There were 2,220 closings for single family detached in January. This is a reduction of 22.1% from the same year ago period & the 29th monthly year-to-year decline out of the past 30 periods.

The average sale price for all single family closings in January was $181,799. You would need to go back to February 1999 for a lower average price. January’s average is also $90,000 below the all-time high from June 2007.

The average sale price for single family detached was $185,294 in January. This is 23.5% below January 2007’s average, 35% below the all-time high, and 19.4% below 08’s average.

There were actually a couple of positive trends to report. There were 6,511 expired listings for all single family in January. This is a large decline from January 08’s total of 7,619 expired listings & the 5th consecutive monthly year-to-year decline.

Withdrawn listings also declined year-to-year for all single family. There were 2,404 withdrawn listings for all single family in January 09 versus 2,906 for January 08. This was also the 6th consecutive monthly year-to-year decline for withdrawn listings for all single family.

The year-to-year drops for expired & withdrawn listings are the direct correlation to reduced inventories. For the first time since statistics have been recorded, the inventory level of all single family was lower at the end of January vs the end of December. This was also the 9th consecutive decline for all active single family inventory at the end of a monthly period. This is the longest streak since records have been kept, but with the spring season approaching it will most likely be stopped at the end of February.

Days-on-market was 96.4 for all single family closings in January 09. This was the 4th consecutive monthly year-to-year decline & was also 7.4 less DOM than the same year ago period.

I am going to repeat what I stated in December’s year-end letter, as I feel strongly that liquidity in the markets is very important for 2009. “I believe resales will have year-to-year monthly increases starting at the end of the 2nd quarter with new construction following two quarters later or the end of the year. How much we improve will depend on how effective our government will be to improve liquidity and the ability to lend for our real estate industry. If our financial markets fail in the ability to fund and fund all-types (conforming, non-conforming, jumbo, etc) of mortgages, it will be a very slow upward turnaround.”
Thank you,
Steve Palm
Smart Numbers © 2009 Smart Numbers


This points to an upcoming shortage of homes in the under $250,000 price range & a significant increase in homes for sale over $300,000. Eventually prices in the lower price range will stabilize & start to rise as more & more buyers are forced by the economy to downsize & purchase in the low range. There will be less buyers in the higher price range forcing inventory & foreclosures higher & prices lower.

Bottom line, in my opinion, if you think you will have to sell in the next 3 to 5 years get your home in the best condition & get it on the market with a great agent ASAP to get the best price.
Deryk
Web Reference:  http://www.keyhomefinder.com
0 votes
Barbara Carr…, , 30114
Sun Feb 22, 2009
There are many questions I have before I could answer your questions. Condition, Location and Motivation are the key factors in selling a home.
You have stated that you have a complicated situation and perhaps someone from outside the family speaking to all of you, showing home values and marketing programs, would make the situation a lot easier. A professional Realtor who is an outsider will give an objective opinion.
My associate and I would be more than happy to meet with either all of you or just you and give our opinion about the Real Estate Market and the value of your home.

Barbara Carrio
Prudential Georgia Realty
bcarrio@prudentialgeorgia.com
678-576-1110
0 votes
davidwbrower, , Woodstock, GA
Sun Feb 22, 2009
A lot of this would depend upon what you actually purchased the home for as well. So many people offer advice without all the facts. There is no way of answering your questions completely without first doing a CMA, previewing your home, and determining the best strategy to get your home sold and if for how much matches your financial goals then it doesn't matter. If you are a serious seller, I'd be happy to meet with you and offer my professional opinion once all the facts are gathered. I live in Woodstock and love it! It's a great place to live and any home will sell at the right price. There are buyers out there, they just want to feel like they've gotten a good deal. If you look in FMLS today, you will still see that homes, on average, are still selling for 94-97% of list price. We are just pricing homes better to sell, now, more than ever. Give me a call if you haven't already hired an agent and I would at least be willing to meet with you and discuss your options.

David Brower
Crye-Leike Realtors, Assistant Manager/Realtor
678-982-9600
Web Reference:  http://www.davidwbrower.com
0 votes
Sandra Hordos, , Woodstock, GA
Fri Nov 21, 2008
Let me start with the market in Woodstock is doing quite fine. Yes, there are alot of homes listed and we are seeing alot of homes going under contract as well. I can show you trend facts on the area and that will give you a better understanding on what the market is like. It will show you how many are listed and what was sold, how many days on the market etc.
In today's market, you definately need an agent, someone who is qualified in the internet marketing and has the tools to get the exposure you need. I would love to talk to you in more detail and do a walk through of your home at your convenience and help you with ideas to get it ready for first impressions. You know first impressions mean alot. You want someone that is going to price your home right. Over-pricing can cause many delays and we don't want to give it away either. I will show you facts to help you price your home right from the beginning. Enjoy your Thanksgiving Holiday and I am looking forward to hearing back from you. My cell phone is 404-374-1315. Let's get it sold ! Check out my website http://www.Touringhomeswithus.com
0 votes
Cheryl Martin, Agent, Woodstock, GA
Wed Sep 10, 2008
This is a complex question with several factors that will influence the answer. We are fortunate in Cherokee county that our market has not been as affected as much as other areas. Much of what you are asking can be determined by a Market Absorbption Report. That is, in the past 6 months how many homes in the area have closed or been placed under contract. How many listings per month are selling, and what is on the market right now would give you a good idea of the time frame that it would take to sell your home. There are many factors that determine price, as you well know. Location, condition, amenities, etc. It would be a smart business decision on your part to have a professional, visit with you in your home to determine the best course of action. You are welcome to email me at cmartin@prudentialgeorgia.com or call 770-616-7007. Please vist my web site at NoPlaceLikeHomeTeam.com
0 votes
Linda New, , Acworth, GA
Sun May 4, 2008
Well, sounds like several questions in one............but to make you feel better.....Woodstock is one of the fastest growing counties in the country. There are several recomendations on my part. Ask youself is my property ready to put on the market? Get a professional comparision anaysis of homes that are similar to your property. Staging is key in this market along with pricing. My office is in Woodstock. If you have any further questions feel free to contact me, I would like to discuss with you your possibilities.....

Linda New, Broker
Crye-Leike Realtors
http://www.lindanew.crye-leike.com
0 votes
Sandra Hordos, , Woodstock, GA
Sun Apr 13, 2008
Woodstock is a desirable area. Your house has to stand out from the rest. You need to find that WOW factor as the buyer's come in. Definately get a CMA done, and that's a free service to you from agents. Call me and I will do a walk through with you and I can help you stage your home and get it ready for the market. Definately, not the best time to be on the market but Only you know if you need to sell. Let me know if there is anything I can do to help. My office is in Woodstock. You need someone that knows the area. Call me and too set up an appointment and I will go over my marketing plan with you,
0 votes
Kathy Seger &…, Agent, Roswell, GA
Sun Apr 13, 2008
Lindsey, Yes well priced homes are selling in Woodstock. Currently there are 50 homes under contract in zip code 30189. Remember selling a home is complicated without family situations. Also asking price and selling price are two different things. Asking price should be based on comparable sales and competition from other homes. Selling price is what a ready, willing, and able buyer will pay. To make a wise decision about selling, you need to talk to a REALTOR, someone that know the Woodstock market, someone that will agressively market the home, and someone that will tell you the truth.

Best of luck!
0 votes
Barbara Carr…, , 30114
Fri Apr 11, 2008
Hi,
Just checking back with you to see if you need any additional information that perhaps you haven't received.
I am a full time/full service agent living in Woodstock and I am available to answer all you questions.
Just give me a call,
Barbara Carrio 678-576-1110
0 votes
Julie Starli…, Agent,
Sat Apr 5, 2008
Woodstock is a very desirable location with excellent schools. I am sure that you know about the recent award the school system won. The market will continue to do well in Woodstock. I have lived in the area for 9 years and know how to market Woodstock from my personal experience of enjoying the Woodstock amenities and having kids in the Woodstock schools.. Selling now is a good time with the right agent. Profit can be made with the proper advertising and staging of the home; I am happy to provide this service of staging to my clients. Only a few seconds to grab the buyers attention and make them want to buy your house! Please call me directly at 404-543-4904 to talk further about my proven marketing strategy which relies heavily on the internet-where buyers start their search!!!
Julie Starling "2007 Prudential Georgia Realty Realtor of the Year-Cherokee Office"
0 votes
Martin Wise, Agent, Anthem, AZ
Wed Apr 2, 2008
Go to Google.com and do a "Woodstock Real Estate" Search..... what you're looking for in a Realtor listed on Page 1 of google (not in the "sponsored" section either). With 85% of BUYERS beginning their home search on the web, YOU want an agent who is there for them to contact..... PS, I'm not one of them, as I'm way too far from Woodstock and am not an expert in Woodstock homes.....find someone who IS!
Good luck with your home sale!
Web Reference:  http://www.MartinWise.com
0 votes
Hi, , Virginia
Wed Apr 2, 2008
keep the house
not a good time to sell a house
you think you will make 15k?
and you bought it in 2004 (u said 4 years ago)
you will be lucky if you only lose 15K

anyways

good luck
0 votes
Barbara Carr…, , 30114
Wed Apr 2, 2008
You are very smart to seek help from a full service realtor. Selling your home can be very stressfull but a professional can make it a lot easier for you.
If you are in doubt as to the price, you should either get a detailed market analysis (a free service provided by most realtors) or get an appraisal. Get your home prepared for marketing...declutter, spruce up the paint, if needed, with spring arriving add color to your yard and add pine straw or mulch, remove winter clothing from closets to add space. You can either get your home staged professionally or ask a realtor to help you. This has become a very important step in helping sell your home.
Marketing and pricing are the key. A full time, full service professional can help you on your way. As most home buyers begin their search on the internet, you want a professional who lists your homeon the most websites. You also want someone who will keep you informed about activity.
You have chosen a great time to market your home because with interest rates so low there are more qualified buyers out there looking for homes. Not only that but with the end of the school year approaching families will be looking for homes before the new school year begins. Relocation companies also have a lot of activities this time of year.

I would be more than happy to answer all of your questions and show you my detailed Marketing Plan. Living in Woodstock myself I am close enough to service your needs.
Please email me at: bcarrio@prudentialgeorgia.com
I look forward to talking with you,
Barbara
0 votes
Andrea Steele, , Marietta, GA
Sat Mar 22, 2008
I agree with the other agents to have a CMA done. I would consider as well with making your competitve against other homes on the market, especially if you live in a subdivision and there are several for sale. What I mean by this is make sure that the walls are painted a neutral color, the flooring is in good condition,curb appeal is nice (flowers and landscaping important), get rid of clutter, and buyers now are concerned with granite counter tops, and stainless steel appliances.

Another tip is pricing your home correctly. You want to price your home so that it is on the market fewer days and you can get what you want out of it. I would be more than happy to do a CMA report to you and send it to you by email. If you are interested in my help please email me at:

andreasteele@jennypruitt.com

I hope this helps you with your decision.
0 votes
Gayle Rogers, Agent, Roswell, GA
Tue Mar 11, 2008
As with any home it depends on your location, condition of home, etc. The market has definitely picked up since the beginning of the year and homes are selling. The problem most home owners are having is the amount of competition that we are experiencing. Be sure that your home is in show quality condition and have an agent that markets effectively.
0 votes
Deb Luedtke, Agent, Woodstock, GA
Fri Feb 8, 2008
I am a REALTOR located in Woodstock. I do know of several listings that have not sold and some others that took a year to sell. Yet, there are some that have sold relatively quickly. What's the difference? It really depends on how you price your property compared to others in the area. Other factors are how clean it looks, how well maintained, etc. In other words, does it appeal to most potential buyers? Once you speak with a real estate agent or two, you will get an idea of what price is reasonable and you can go from there. Please feel free to give me a call or send me an email with the property address and I'd be happy to provide more specific information.
Web Reference:  http://atlantadeb.com
0 votes
Brad Nix, Agent, Woodstock, GA
Sun Feb 3, 2008
I am a local Woodstock real estate broker. I will be glad to help you evaluate the market and determine the best options for your situation. We do complete CMA's including FMLS analysis along with all the web-based property evaluators. Please learn more about me and my company at http://maxsell.net or call me at 678-741-2060 x303 or email me at bnix[at]maxsell.net. I am always accessible and have a team of agents to support you through the process.

I look forward to hearing from you.
Web Reference:  http://maxsell.net/blog
0 votes
Joshua Jarvis, Agent, Duluth, GA
Sun Feb 3, 2008
I am familiar with the woodstock market and know personally, one of the top agents over there. They will not "list" your home if they cannot sell it! Please contact me so I can refer you to them and also discuss the current market. A 7 bedroom 3bathroom home could be anything from a mansion to a simply a small home with a basement that is finished. It's important to know more about the home in particular so we can advise you properly.
Web Reference:  http://www.jrjarvis.com
0 votes
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