We had a very good week in Alpharetta real estate this week and it was interesting to listen to the reasons why the buyer choose to buy our resale listings. First of all all of our Alpharetta home listings are value priced. It seems the buyers on one home had exhausted the agent looking at foreclosures, and after they looked at dozens, they decided to buy a resale that we just dropped the price an additonal 20K. The reason? First of all the resale Alpharetta home was not trashed. We still had our plumbing and airconditioners in place, and the property wasn't a pig sty. This Alpharetta home we listed was owned by the original owner and it was in great shape. Pride of ownership was evident throughout the lovingly cared for home! There was new flooring, the deck was just replaced, new paint, a full daylight basement, the HVAC was just replaced with two high efficiency units, the home had 4 sided irrigation, the home was on a professionally landscaped lot, and was loceted in the best school district in the state. Oh, one more thing, the home had an incredible location, and would save a fortune on gas. It seems the new construction in closer is just too highly priced, and when you find affordible new construction, it is too far out and would add at least 45 minutes - 1 hour to the commute. Price right, clean and updated really work well when you add in...location, location, location!
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Jim - Buyers are looking for value and that does not necessarily mean the cheapest house. Your resale seem to have had a lot to offer including good commuting location. Congratulation!
Jim, I think that value and location are going to be even more tightly linked as more and more people freak out over the price of gas!
I've seen people looking at some of the resales for the same reasons. Glad yours sold!
Jim - I agree with you... there are too many homes out there that are completely trashed.
I saw a sign on a street corner last week for a "Moving Sale" everything must go... appliances, light fixtures, central air-conditioning... I figured out pretty quickly what was going on.
I know in this market I could buy an exisitng home for less money that I can build new.
Jennifer Fivelsdal,ABR,GRI,SRES (Keller Williams Realty) House or home...many will now make choices out of budget, quality of life, commute etc. I think buyers are returning to their senses.
Patricia Kennedy (Evers & Company) I totally agree with you! You stand to do a great business when this economy gets back on tract because you work intown DC.
Rob Muller - ABR, ASP, RCC, CNHS, LREA Cherokee County Real Estate (ReMax Town & Country) I'll share it with the group after it actually closes. It is good to see the mindset of the buyer, and what their hot buttons are.
Debbie Summers, Licensed Real Estate Professional (RE/MAX Central Realty Lake Mary, FL) In the early 90's when there were a lot of homes in foreclosure in the Atlanta market from the real estate collapse here in 88' it was not unusual for folks to sabotage the home. Cement in the HVAC, sewer, holes in walls water damage etc... not much of a bargain esp in "AS IS" condition.
John Walters (Specialized Real Estate) I totally agree. It would also be in much better shape, better value, and location.
Jim,
Most buyers around here don't want to wait and if they can get a deal on a regular sale instead of forclosures or short then they would rather go with the cleaner and hopefully easier deal...no waiting for a lenders approval.
Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates) I agree. As markets heat up...who wants to wait for 6 weeks only to be told "Sorry!" All the really great deals will be gone, and you are looking through the reject pile. It isn't a god feeling.