New Administration trying to stifle the Buckhead housing market.
The NAR recently sent me an email stating their opposition to the administration’s mortgage deduction phase-out plan. Here is the key excerpt: As currently drafted, the plan changes the Mortgage Interest Deduction by reducing the amount of mortgage deductibility on families earning over $250,000. This proposed change in the Mortgage Interest Deduction will result in further erosion of home prices and home values. If this proposal is enacted it will lead to a new round of price depreciation, will cause greater distress on the balance sheets of banks as the collateral value of mortgage...
Read MoreMonths of home inventory for Buckhead
As I explained in a previous post, knowledge of the home inventory for a given price range and/or area can be an effective tool in negotiating. Here are some Buckhead homes inventory numbers as of today: $500,000 – $1,000,000 – 16 months of inventory 338 currently active, 254 sold in last 12 months $1,000,000 – $3,000,000 – 1 year and 9 months of inventory 295 currently active, 167 sold in last 12 months $3,000,000 and above – 7 years of inventory 77 currently active, 11 sold in last 12...
Read MoreThe benefits of a home manager
While many buyers are sitting on the fence, a new group of people are sitting in vacant listings to help homeowners sell their home. These days, many Realtors in Buckhead are using “home managers” to help keep unoccupied, unsold homes show-ready and deter would-be vandals. All things being equal, a furnished home will sell more quickly than a vacant home. The arrangement can be a win-win situation, because house sitters will often stage you home for free and pay for utility costs. Typically, these home managers must meet several requirements to be considered. They must pass...
Read MoreGetting your home ready to sell.
Let’s face it, Buckhead is currently a buyer’s market. It’s takes an extra effort to get homes sold at a fair price. Here is a great video on what you can do to prepare your home for maximum value in the real estate...
Read MoreMarketing your home on the internet.
I’m constantly amazed at how bad agents can be in their online marketing efforts. Whenever I see a single photo in the MLS, when 12 photos are available for free, or horrendous shots, I wonder if the seller has any idea how awful their agent is in marketing their home. In a 2007 NAR survey, 84% of respondents stated they used the internet for their home search. Before choosing a listing agent, at a minimum you should look the agent up on the internet and see how well she represents her other clients. The Buckhead luxury home market demands a top marketing effort. I’m sure the...
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