The Atlanta Housing Market Is Costing Sellers And Attracting Picky Buyers

Real Estate Marketing 101You want your home to sell but, are you investing or have you invested in your home to make it desirable to Metro Atlanta Real Estate Buyers?

The Atlanta Real Estate Market is coming to an interesting turn.  Buyers are flocking to the market looking for the most affordable deals in their price ranges that offer the most features, and sellers are flocking to contractors to determine the most cost effective measures that will help sell their homes due to the home crisis that began back in 2008 being quoted what they believe are unrealistic amounts just to sell their homes.

What do we have in Metro Atlanta – many new home communities, and older homes all up for sale in the same price range.  Metro Atlanta is in trouble in this department, and what sellers with older homes are discovering is that regardless of how excellent their school district is the chances of selling their home are decreasing at high rates because when a brand new home that doesn’t have damage and a need for renovation of any form, and that also comes with a Developer warranty plan that covers what may have not been done properly as opposed to a warranty that is either provided to them at closing from the sellers agent or, that they have to pay for themselves that costs extra money while not covering as much it is no question to a buyer what direction they should go in.

So what does a motivated seller in Atlanta do in this case?  Invest in fixing the house up.  Sellers, trust me when I say this is the only way you are going to be able to sell the home that you want to sell for the price that you want to sell it at.

Recently, I’ve become aware of a situation – it’s more than that but, for privacy reasons I will not get into the full details.  This home that I am speaking of is loaded with errors.  The kitchen needs to be completely rehabbed, a pipe clearly burst in the kitchen, and it is very obvious to potential buyers walking through the home, cherry stain was applied to the cabinets but, it was done half heartedly, there are numerous holes, and tons of patch work spots on the walls where spackle was applied but, the patchwork was never sanded, and painted over, the gas logs for the fireplace can not be utilized because, the pipe is corroded, and leaking which is a fire hazard, only 4 windows throughout the entire house can be opened, there are broken, mismatching, and outdated / inefficient appliances all throughout the home, there is siding missing, window screens coming out, a deck that needs to be completely stripped and repainted, and clear signs of what appears to be termite damage, and then there is the water heater, and general air flow issues that no one will ever notice unless they try to fill the jet tub during a showing as it can only be filled half way before the water heater runs out of hot water, and the thermostats throughout the house are set up in a very strange way that creates a different temperature in every room.

This seller hasn’t lived in the house in years (if ever) and my honest opinion is that he has no idea just how bad this all looks to potential buyers but, upon learning about it all what happened but, he threatened his agent with a “I might just turn it back into a rental.”

Does anyone else see the problems with this?  I do, and it’s not because I am an agent, and have a commission to lose out on.  Ignoring the problems doesn’t provide a solution.  This seller is trying to avoid fixing problems to save himself money but, what he may end up doing is creating more problems for himself as a result.

He has a huge fire hazard to deal with, with that pipe.  Ignoring that problem and turning it into a rental in no way is a good idea.  That pipe is leaking, and therefore if the pipe were to be turned on at any point prior to being replaced and coded as safe the entire house could blow up, and if there is a tenant or, family in it there could be a lawsuit on his hands.

The state of the appliances are another subject.  Most are fine however, to leave a broken refrigerator in a home, and mislead potential buyers and tenants that it comes with the home could become an issue for him as well as the agent as it isn’t being disclosed that the refrigerator is not in working condition.  Buyers want the works.  Buyers want updated kitchens, and appliances in their home, they want cabinets that don’t require staining in either the DIY form or, by a contractor.  Simply stated they want a move in ready home, and when brand new is all around you, and rent is affordable elsewhere in a less congested area of town during rush hour traffic that is in a comparable school district – he has a choice to make because schools are not everything.  They are up there on the importance list to many but, they are not everything.

I understand that there are many situations where a seller can not afford to make these repairs before hand but, when you have the ability to do so, and are asking $320K+ for a home that needs a lot of work, and zillow is listing the value of the property at $285k you may want to listen to zillow because buyers, and buyers agents will take that into consideration if the home is desirable enough for someone however, cosmetically if all people are seeing is how much work the home is going to need before it is move in ready then, the only choice is to fix what is possible to fix at an affordable price.

The reality in Atlanta Real Estate is that we are very much in a buyers market because, buyers are allowed to pick and choose still or, just wait it out.  Buyers are picking and choosing, and if they do not like anything that they see then they are holding on and waiting for something more desirable to come along.  So why not take that into consideration whether you are an Atlanta FSBO, Atlanta Sellers Agent or, Atlanta Home Seller and make the cosmetic repairs that will make your home more appealing to potential buyers.

Give them a reason to pick yours.  If your home needs a lot of work, and yet you have no idea where to start or, what to choose with a specific budget please feel free to contact me, and we can determine the most affordable way for you to get done what you need to in order to be taken seriously by buyers.  I also have access to a long list of reliable contractors that I’ve been working with in Metro Atlanta for years.

 

 

 

 

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