Atlanta Real Estate Market Red Hot This Week.

By
Real Estate Agent with The English Team

Contracts to buy and sell real estate have been flying through my email account this week.  Buyers have lighted up my inbox with sales contracts.  Some sales contracts are offers on houses for buyers I represent.  I have also received sales contracts from buyers making offers on English Team listings.

The past 7 days have been a frenzy of activity. Unfortunately, this activity has not been evenly spread as some listings are getting a bunch of showings and others are getting none.  It is not hard to predict that most offers on English Team listings came in on properties where the activity was high. 

While out showing houses this week I had several occasions where more than another agent was simultaneously showing a house while I was walking my clients through.  It has been a while since this happened to me and it took me by surprise.

Nikko HydrangeasAnother by-product of the market activity has been a breakdown in the reliability of data on FMLS and especially on the secondary housing Internet sites like Zillow and Trulia. Buyers looking online at houses are seeing a snapshot of the housing market that is at least 24 and probably 72 hours old.  In effect, the data is unreliable.  Houses showing “for sale” on Zillow and Trulia have been under contract for days but the changes do not come through the online listing for several days (or weeks!).

Even my normally trustworthy and reliable Multiple Listing Service is not keeping up with the market.  Brokers are not changing the status of properties when they go under contract.  I am out showing properties that have already been “Sold” AKA “pending sale” and the property is still showing “Active” on the MLS.  This is just wrong.

My remedy has been to go “old school” and call the listing agent to check availability of homes I am showing.  AND I am not wasting a lot of time showing homes where the INFO may be unreliable.  If you are a seller listing with a discount brokerage, you should especially take note.  Unless you are able to QUICKLY respond to requests for showing instructions, I am moving my buyers along to the next house on the list.  We do not have time to wait around for you to decide to call us back, text or email.  Sorry you were in an important meeting and could not respond.  But hey, you are saving money on the commission so missing a sale is not big deal.

Oak Leaf HydrangeaAnd a special shout out to those Brokers listing Bank Foreclosures, you stink!!!!  I mean it.  You make no effort whatsoever to update your information on the MLS.  And you are slow to respond to calls and emails.  More on that in a later post.

SELLERS, if you are not getting showings right now in the Atlanta market, something needs to be tweaked.  Call your listing agent and talk.

BUYERS, have your loan prequalification letter in hand and be ready to move ASAP when you spot a house that works for you.  There will not be a lot of time to mull the decision over.

If you have an Atlanta Georgia home to sell, call me at 770-939-3174 and I will guide you through the process. Want to buy an Atlanta Georgia home, call me at 770-939-3174 and let’s talk.

Hydrangeas

Posted by

Sally English

Atlanta real estate agent

 Realty Associates of Atlanta LLC; 3350 Northlake Parkway Atlanta, Georgia 30345 |404-229-2995

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All content copyright © 2009-2013 by Sarah Bryant English DBA Sally English and The English Team, Atlanta Georgia. This sale offering is made subject to errors, ommissions, change of price, prior sale and withdrawal without notice.  Potential purchasers should make a physical inspection to verify all features independently.  EQUAL HOUSING OPPORTUNITY.  Sally English is not an attorney or CPA and ALL legal or tax advice should be rendered by a professional. Sally English is an Atlanta real estate agent specializing in homes and neighborhoods convenient to Emory University and The CDC. Thanks for visiting my BLOG! 

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Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

A good advice. . buyers must be fully prepared to engage!

May 18, 2012 05:52 AM #1
Rainmaker
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Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

Ah Sally....you hit every nail on the head...and then some....

I LOVE it when I'm showing property and another agent is coming or going! (Hint Hint Buyers....let's make a decision!)

Foreclosure listings...don't even get me started! Like when you have to call the agent from a call box to get into a building or community? When does a foreclosure agent EVER answer their phone on a weekend!!!! ( I'd love to land some foreclosure listings and show a bank how it is REALLY done!

Now, that all said....let's also call out those agents who DO put all the correct information in a listing and those AGENTS THAT SEEM TO HAVE FAILED 2ND GRADE READING CLASS! Yes, my listing says 24 hour showing notice. YES, we want to sell it. But we still live there and we need/want to make sure the home is ready for showings. Don't be throwing me your bitchy attitude when I tell you it can't be shown in THIRTY MINUTES! Who runs a business like that anyway!

Ok, I just got off my soap box!

May 18, 2012 07:51 AM #2
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Rainmaker
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Sally English

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