Why Do I Have To Decide So Quick When Buying an Intown Atlanta Home?

Reblogger Carla Muss-Jacobs, Principal Broker/Owner
Real Estate Broker/Owner with BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time Licensed State of Oregon

This post is a real eye-opener . . . or should be!

This is the SAME type of market I'm finding in Metro Portland . . . low inventory and some properties are priced low in order to get the "highest and best."

Buyers who don't take my word on the current market . . . and still want to chant the mantra . . . "It's a Buyers' Market" . . . are going to sadly find that the property they like might get plucked up quickly.  We're not even in the full Spring yet and already I'm noticing buyers out and about.

Because my colleage Thom Abbott practices real estate in the Atlanta, GA area, in the Midtown Atlanta area, I was suprised to read of similiar conditions in his market as I'm finding here.

Remember:  "If you sleep on it tonight, you won't sleep in it tomorrow!!"

Original content by Thom Abbott 272617

First Time Home BuyerI was out with a first time home buyer this past week. They were uncertain if they even wanted to purchase a home, but they took the first necessary step and were pre approved with one of my lenders. An important first step, so, as a Buyer, you are comfortable with the price of the homes we are going to look at.

So off we went. This particular Buyer had already identified for homes they wanted to see. From the time our initial conversations started until we hit the street, one of those 4 homes went Under Contract. So, there were 3 left. We saw home number 1….so-so I’ll call it. Number 2, we will call it WOW! Number 3 –another so-so.

Home number 2 was a stunning multi-story town home that was hard to believe it was a foreclosure. A washer/dryer and a new refrigerator was all it was going to need. Not even painting! (Ok the fridge was a science experiment in mold growth….)

We talked about the home, and the price. I told this Buyer that this home was under priced, would end up in a bidding war and would sell well over the list price. My Buyer replied, “I don’t like to be rushed.” I advised her I was not rushing her, but more guiding her that if she was at all interested in this home, that we needed to get our offer in sooner than later.  I also mentioned a saying we sometimes reference in real estate, “If you sleep on it tonight, you won’t sleep in it tomorrow.”

To make a long story short…..25 offers submitted on the same home, and we also missed the highest and best offer deadline by about 10 hours. So, Why Do I Have To Decide So Quick When Buying an Intown Atlanta Home?

Midtown Atlanta Inventory ReportCurrently, in the Metro Atlanta area, there is approximately 46,000 homes listed For Sale. Compare that to a few years back when a local real estate company had lighted billboards proclaiming some 100,000 PLUS homes on the market. The times have changed.

Take a look at this search map of Midtown Atlanta condominiums and townhomes currently for sale.  This is a pretty large area! In this area, there are just 349 condominiums/townhomes and 75 single-family homes listed For Sale. 

 Just 424 purchasing options in Midtown Atlanta!

So, Why Do I Have to decide So Quick When Buying an Intown Atlanta Home?  Because you do not have a whole lot of choices, and you are not the only one with a shopping cart.

If you are considering making a home or condominum purchase of Intown Atlanta Real Estate, then have your ducks in a row, and be ready to make that decision, or you just may not sleep in it tomorrow.

Associate Broker

Thomas Ramon Realty @ Palmer House Properties

2911 Piedmont Road, NE, Atlanta, GA 30305

Direct: 770.713.1505  Office: 404.876.4901  Fax: 404.478.8495

 

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Midtown Atlanta Condo Real Estate

Midtown Atlanta Condos For Sale

 SEARCH ATLANTA HOMES FOR SALE BY ZIP CODE!

 

Brookhaven/Ashford Park 30319 Buckhead 30305
Buckhead 30327 Buckhead 30342
Chamblee 30341 Decatur 30307
Doraville 30340 Downtown Atlanta 30303
Druid Hills 30329 Dunwoody 30338
East Atlanta/Ormewood Park 30316 East Lake/Kirkwood 30317
Grant Park 30312 Midtown Atlanta 30308
Midtown Atlanta 30309 Midtown West/Collier Hills 30318
Morningside 30306 Morningside 30324

Are you looking for a specific Intown Atlanta neighborhood to focus on?

Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!  

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Rainmaker
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Patrick White
Home Driven Realty, Inc - Baldwin, NY
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Good Afternoon Carla

Thanks for the post and re-blog. There is a similar dynamic in the markets I serve in Queens and Long Island. Buyers have to understand that a great buy is a great buy and buyers will flock. Sometimes the cold hand of reality has to strike for them to get the message. Great re-blog Carla. Have a great week.

Feb 20, 2012 10:43 AM #1
Rainmaker
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Thom Abbott
MyMidtownMojo.com Thomas Ramon Realty - Atlanta, GA
Midtown Atlanta Condos For Sale

Thanks Carla! Now I just need more Buyers that I can get to understand this message!

Feb 20, 2012 08:22 PM #2
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Carla Muss-Jacobs, Principal Broker/Owner

Buyer Focused ~ Buyer Results
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