I have a 3/2 bungalow in the Old Fourth Ward that I may put on the market. Recommendations for an agent who really knows how to market in the OFW?

Asked by Potential Seller, Old Fourth Ward, Atlanta, GA Tue Sep 15, 2009

I've owned the house for almost 5 years and should have a decent amount of equity in it, although I suppose that's relative in this market. It's in good, not great, shape and I've done a few upgrades, although not the ones most needed in the bathrooms. I'm looking to take advantage of the discounted housing prices to move into a more established intown neighbhorhood with better schools. There have been so many short sales and foreclosures in my neighborhood that I'm really wary of putting my house on the market now for fear that the vultures will circle and just bring a bunch of lowball offers (below what I paid for the house), and thus waste my first opportunity in marketing the house. Any recommendations for an agent who really knows their stuff about this neighborhood would be appreciated. Especially someone who can help me come to a solid, competitive price, which I already recognize might be much less than I want.

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Ramiro Garcia, , Grants Park, Atlanta, GA
Wed Feb 10, 2010
Potential Seller,

You mention schools as concern. Well, if you are able to hold on a bit longer... there is a new school coming to the Old Fourth Ward. See Q+A from:

I too have sold homes in the O4W - as you know... being on Alaska Ave and closer to Inman Park is very different than other areas. It's all about Location, Location, Location.

-Ramiro Garcia
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Stacey Wyatt, Agent, Atlanta, GA
Tue Sep 15, 2009
Potential Seller,

I have to give it to you, you sound like one of the few Sellers that "get it" in this market. Keep in mind it is a "Beauty Contest and a Pricing War". If you are willing to be aggressive with the price, then the only concern you should have is the condition. Depending on what "Good Condition" means and how outdated your bathrooms are will determine how aggressive you need to price it... Keep in mind, price always overcomes condition...

Here are the statistics you should be concerned about:
1. There were 79 Sales in this Area in 2nd Quarter of 2009. [Not Bad]
2. 19 Months of Condos/Townhome Supply in this Area [Not Great]
3. Average Days on Market (DOM) = 87 Days [Not Bad]
4. Median Sales Price = $181,000
5. For every 100 Homes Listed in your Area, the Market Rejects 69 of them. [Not Great]

If the price of your Unit is around the Median ($181,000) these are very accurate numbers. The higher in price, the greater Days on Market, Failed Listings, etc. Once I know what price point we are talking about, I can fine tune these numbers.

I am currently working with some Home Owners on the Marketing Plan and Pricing Strategy for their Loft/Townhome on the corner of Edgewood Avenue and Jackson. If you would like to meet for lunch at Shauns or Ru Sans, just say the word!
0 votes
laurie cass, Agent, Atlanta, GA
Tue Sep 15, 2009
I have listed and sold homes in the Old Fourth Ward even way before you bought yours! I have sold new homes(Daniel), foreclosed homes(McGruder), renovated older homes(McGruder), estate homes(Alaska) and just plain old homes(Highland) all within the OFW. Quite a different neighborhood these days. You are correct that the short sales and foreclosures will affect your pricing and appraisal but I think your goal of moving into a different neighborhood with better schools is something that you could accomplish in this market. You may call me or email as I will be happy to assist you and also honest with what I think the fair market value is this week....next week that might change...

Laurie Cass
0 votes
Scott Askew, Agent, Atlanta, GA
Tue Sep 15, 2009
Our office is located 3-5 minutes from Old Fourth Ward. We are in Morningside/Virginia Highland. All but two or three of our agents are more than qualified to assist you. Contact me and we can talk further.

Scott Aaskew
President CRB CRS
Fourteen West, REALTORS
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