Fall is here and the weather is getting cooler. So why does Atlanta feel so hot? If you’ve thought about purchasing a home in the area then you know why. The Atlanta real estate market has never been hotter! The city is certainly living up to its “Hotlanta” nickname in 2020.
As a local Realtor that knows the Atlanta market I can safely say Sellers couldn’t ask for a better market!!
Have you thought about selling your home? Now might be the best time. In this blog I’m going to dive into the 5 Reasons you should call us about selling your home in the Atlanta area.
1. The Pandemic Changed Everything
There were a few moments at the beginning of the pandemic when the stock market dived and the news was getting scarier by the minute reporting that a housing crash might be coming our way. In fact many deals fell out of escrow around this time. However, this was not 2008. We were all stuck at home and anybody living in a small apartment was questioning why they did not have a house. Inventory was already very low but pretty soon houses started flying off the market. A home that you control and own became the hottest commodity of the pandemic. In fact some of those homes that fell out of escrow ended up going for much more once they came back on the market!
2. It's A Seller’s Market
Each time I meet with a new buyer looking for a home in Atlanta I have to be frank with them. This is an unprecedented time in Atlanta real estate and Buyers typically do not have the leverage they had in Fall 2019 when things had cooled a bit. What does this mean for a Seller? You hold a lot of power! When I’m touring Buyers around the city I am always surprised when I run “comps” (comparable homes that have sold) by how prices continue to be on such a steady incline. Are you curious about comps in your neighborhood? I can run them for you and help you analyze exactly what they’re telling you.
3. New Buyers Are Flooding Atlanta From Out Of State
There is an exodus happening in America. Buyers with lots of money and capital who were in their cramped New York apartment or had to report to an office in Silicon Valley are now “work from home” employees and can live anywhere in our country. As any resident of Atlanta knows, Georgia has been our “secret” that we hoped never got out to the coasts. Unfortunately, the secret has been out for a while that Atlanta is an incredible place to live and raise a family. This has resulted in lots of offers from out of state buyers and making your home even more valuable.
4. Many Houses Are Going Over Asking
Nearly 50% of the homes I’ve sold for my Sellers in 2020 have had multiple offers and sold for over asking price. I have to instruct all my buyers that offering “below asking” is simply not a winning strategy in the current climate. What a buyer could get away with in years past is not possible. Selling a home has many costs associated with it, moving, Realtor fees, some closing costs, repairs, so it is a nice surprise that when Sellers get that extra amount over list price to cover some of those mounting expenses. It also means more funds for purchasing your new home!
5. It Does Not Appear To Be Stopping
Each month that goes by housing continues to go up and up. It does NOT appear to be slowing down in the near future. Any family that was renting a corporate apartment and was locked inside with kids for 3 months are “new buyers” that didn’t exist a year ago. Mortgage rates are at an all time low so with a proper down payment I’m seeing some families paying even less monthly to own a home that has a backyard and great schools. How long will this go on? Nobody knows for sure but if you were even considering selling your home you owe it to yourself to let us run some numbers for you and discuss your options.
Are you thinking of selling your home? The best first step is to reach out to 12LUXE Real Estate & Interior Design and request a consultation where we can run analysis and comps to determine market value for your home. We’re happy to have a no pressure call with you! I’d walk you through step by step exactly how much money you could make on your home and how the entire process would work.