Today’s changing market makes for challenges for agents and sellers. It also requires Peachtree Corners buyers and sellers to adjust their thinking.
The market in our community is currently in balance but as we edge toward it becoming a seller’s market, there are tips that sellers need to incorporate. These will help make your real estate transaction successful.
One thing that has not changed is the need to stage your home. It is
necessary to sell your home quickly and for top dollar. Condition will
still influence price and time on the market. However, good condition and
priced right should result in an offer in the first 45 days.
Find a Realtor that can help you interpret the market. No one can predict
the market but a seasoned agent can use the knowledge gained over the
years to help you decide how to position yourself in a changing market.
It could be you price your home based on comps (comparisons) of the recent market and hope for multiple offers to drive the prices up. In some cases you price higher than what market value is based on demand. No matter where
you price, the market will speak and in some cases speak loudly.
For the buyer there is the shock of no longer being able to bring an offer
with a deep discount off the list price. One of the biggest adjustments is
that now they are competing with other offers and it is not unusual to
see full price or better offers. Buyers now has to adjust their expectations in order to adapt to the new market.
Once under contract the next challenge will be the appraisal. The appraiser will not always factor in the new real estate market we are dealing with. The appraiser will have the challenge of lower priced homes that have sold in the past few months.
The appreciation we all want to see will be a slow process as the bar is so
low and the appraiser will be the last to react to the change from seller’s market to buyer’s market. They only have the rear view mirror to use as a tool in establishing value. The agent has the pulse of the market and can respond to it quickly.
New on the market this week:
6120 Rachael Ridge , Priced at $525,000, Peachtree Corners
4118 Allenhurst Drive Priced at $340,000, Peachtree Corners
5350 Edgerton Drive Priced at $525,000, Peachtree Corners
for additional homes for sale in Peachtree Corners visit PeachtreeCorners.com.
Open House Sunday 2 - 4 p.m. March 17
5350 Edgerton Drive , Peachtree Corners
4306 Jones Bridge Circle, Peachtree Corners
83 West Peachtree Street, Historic Norcross
4315 Fitzpatrick Way, Peachtree Corners