I sometimes hear these statements from sellers when I speak to them about listing their home: "You know, we don't HAVE to move" or "We're not really in a hurry, so we can take our time." or "I'm willing to test the market and see what happens".
Realtor.com, my own website's tracking, and many other sources' statistics prove that sellers actually have a very short "window of opportunity" during which their home will receive 90% of its interest from prospective buyers (and their realtors).
After that time (usually the first 4-8 weeks), viewings and interest drop off significantly, which is the reason another favorite tactic of some sellers--"let's list it at a price too high for the market and then lower it later"--is a fatal mistake as well. By the time they lower the price, most prospective buyers have already moved on and are no longer viewing/considering the property.
Most importantly, once a home has been on the market more than a few months, even if the owners are "not in a hurry" to sell, it starts to be perceived as "shopworn". Realtors will avoid showing it, assuming that there is somethng "wrong" with the home that prevented it from selling; buyers will start to make "low-ball" offers, assuming the sellers are getting desperate.
Not a good place to be....
So sellers should do some soul-searching before they list--if they're not truly motivated and willing to have their home look amazing, be priced right and marketed aggressively--then maybe it's just not the right time to sell.
We constantly hear the expression, "It's a buyer's market." Does that mean sellers are always at a disadvantage?
Not necessarily. Sellers that are moving up to a higher-priced home have a great opportunity to save money. For instance, if they take 10 percent less for the sale of their $200,000 home, they've "lost" $20,000, but they will get that same savings or more on the new, higher-priced home they are purchasing.
So when they purchase their new $300,000 home for 10% less, they will then "gain" $30,000, and actually be ahead $10,000-something that would not be possible in an "up" market.
Another reason for selling in a down market is to quit "throwing good money after bad". If you are living in a dwelling type or area that does not have the appreciation potential of another home that you could be in, it's similar to holding onto a bad stock and waiting for it to go back up, when you could sell at a loss but then buy a new, better stock and start seeing your value increase right away.
Similarly, once you sell, you can move into a home that has higher future appreciation potential. Moving from a two-bedroom, one- bath home to a three-bedroom, two-bath, from a less desirable school district to a more desirable one, or sometimes from a condo or townhouse to a single family home are all ways you could affect your future home appreciation. And you can take advantage of interest rates that are well under 5 percent!
Another reason to sell in a down market-sometimes you can't put a price tag on starting the lifestyle you have been dreaming about! Perhaps the thought of raking leaves and exterior maintenance is weighing you down. Why not sell now and start living in the condo or townhome of your dreams? Maybe you've always wanted a gorgeous garden. There's a beautiful cottage somewhere just waiting for your green thumb. Bottom line -- the real estate market is what you make of it.
When I moved to Atlanta five years ago, I fell in love with the "in-town" areas of Virginia Highlands, Inman park, Midtown... I longed for one of the cute 1920's bungalows I saw everywhere in those neighborhoods.
Unfortunately, my mortgage person soon gave me a reality check and I realized that I would probably have to consider a more affordable area if I wanted my bungalow...and also if I wanted to avoid the "joy"of Atlanta city taxes!
As I continued my search just north of the city, I stumbled upon Historic Marietta, a small area just West of 75. It had historic homes surrounding a charming town square with restaurants, coffe shops, antique stores, even a well-known theater. I saw people walking to the Square from their homes, sitting in outdoor cafes, or just relaxing in Glover Park (the centerpiece of the Square). I found out that regular events included concerts, antique and arts shows, even a summer farmer's market.
As one of the oldest neighborhoods in Marietta, it was filled with the historic homes I loved, from turn of the century Victorians to early 20th century bungalows. Even today, I never tire of driving down Church or Cherokee Streets, which have some of the areas' most beautiful homes. When I learned what the property taxes would be (compared to city of Atlanta), I knew I was home. I found my own 1920's bungalow, complete with the big Southern front porch, 10' ceilings, and even a koi pond in the front yard.
Yes, my home needs some updating, but I found out that one of the best parts of living in historic Marietta is that all the neighbors get to know one another, and we share our old home renovation ups and downs. We look out for one another, and we hold regular "block parties" to take time out from our busy lives and re-connect. I tell my family that it's like living in "Mayberry"--if I forget to lock my back door, I don't have to worry; I have had a baby deer and her mom in my backyard; and I can commune with nature while hiking at Kennesaw Mountain Park, just minutes away. And I'm only 20 minutes from Midtown!
And for my friends (I know who you are!) who have a fear of living not only OTP but in Cobb County, I'm here to tell you that there's something about that the more urban feel of living near the Square that attracts a more diverse, slightly less conservative crowd--yes, I have even spotted Obama signs on my street! :-)
So while I'll always love all the neighborhoods in intown Altanta (and love selling homes in those areas), I have a special affection for the neighborhood just outside the Perimeter with the "intown" feel--historic Marietta.
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http://www.OurHomeAtlanta.com - for a full service realtor that thinks "outside the box" - don't wait....
One of Kirsten's passions is using her unique marketing skills to help homeowners sell their home--she's often been personally referred to clients who have tried other agents without success.
As a certified Realtor-Stager, Kirsten is able to help clients "tweak" their homes to make them appeal to more buyers. (For vacant homes, Kirsten counts on friend and successful stager, Kathy Nielsen of Georgia Interior Solutions).
The house below had been on sale for TWO YEARS (meanwhile, the sellers are paying two mortgages, since they'd relocated to Dallas). It was challenging--look at that steep slope! However, with a few minor updates and some great staging, it SOLD in two weeks! (see their testimonial).
As a Relocation Specialist, Kirsten loves introducing newcomers to the diverse neighborhoods that make up metro Atlanta, and her favorites are the intown neighborhoods that have restaurants and shopping within walking distance.
As a Accredited Buyer's Representative, she's able to provide all the information a buyer would need to make an informed home purchase. She also enjoys working with first time home buyers and helping them with one of the most important milestones in their lives...she's got the patience and knowledge they need!
Here's a recent steal that Kirsten found buyers from Chicago that had their heart set on a home in Virginia Highland, but who lacked the budget (average home price: above $650,000). They paid $435,000 for a beautiful 3/2 bungalow with a legal 1 bedroom/1 bath apartment below....
We had just about given up hope on selling our home and were looking at rental options. Our house was unoccupied and on the market for almost two years, with numerous price reductions and continuous maintenance costs. We met Kirsten Conover in late December of 2007 through a referral from a close friend. My wife and I had been loyal to the same agent for two years, but felt like it was time to make a change. We were tired of paying two mortgages. Needless to say, we were very impressed with Kirsten's ideas of re-marketing our home, make a small investment to update fixtures, and preparation prior to our home being listed. We had multiple offers within the first two weeks of the listing, and had it under contract. Within 45 days of the listing, we sold and closed on the home.
Kirsten provided us with invaluable advice and suggestions throughout the process, in addition to letting us know what we ‘needed' to do to sell the house in today's buyer driven market versus what we ‘wanted' to hear. Kirsten is by far, the most professional, dedicated, and knowledgeable agent we have ever worked with. The only regret we have is that we did not meet Kirsten two years earlier.
Mark & Erin Packwood (formerly Sandy Springs, now Houston, TX)
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Kirsten - you made me realize what a great asset a good real estate agent is. After a terrible experience with a Duffy Realty agent who "attempted" to sell my home, you came, suggested upgrades as well as staged the home ... it sold in less than a month, in a down market, for 98% of the asking price! Though I sometimes wanted to throw darts at your picture through the upgrade process, you proved to me you knew exactly what you were doing.
I could have chosen other agents but I choose you because you have a great attitude and confidence. I feel very comfortable around you and can trust what you're doing is always in my best interest. Though I ended up renting until I find the PERFECT place to call home, I will definitely be using you for my home purchase later this year. Thank you, thank you, thank you .... I truly appreciate everything you did for me!
:-)
Diana Cummings (formally of East Cobb, now in Decatur)
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I was recently relocated by my company to California and had to sell my condominium quickly. As this is a particularly tough condo market right now, Kirten's challenge was pretty big. Since purchasing the condo the values in my complex have depreciated and the days on market average 142 days.
Kirsten worked extremely hard to sell my place--she was very responsive and communicative with me every step of the way and made the process much less stressful. My condo sold in 6 weeks and set a new high price for my complex. My only regret is that I moved to Sacramento and she can't help me find a house here!
Tiffany Miller (Sandy Springs/Dunwoody)
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Kirsten - Didn't get a chance to thank you at closing the other day for all the effort you put forth in selling our home! Evelyn and I both really appreciate you-you are the best!
Octavies & Evelyn Beavers (Historic Marietta)
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Kirsten has restored my faith in real estate agents! After unhappy experiences with two other agents who attempted to sell my home, Kirsten was able to sell it for me at full asking price. She was tireless in her pursuit of Buyers, and even performed "kitty litter" duties when I was out of town one weekend.
I could have used other "top" agents, but I choose Kirsten because she was all about getting to know me and what made my home unique in the market place. In talking with those other agents, I felt they were relying too much on their reputation and were more interested in adding my home to the pages of their "home list" then actively selling my home. If you want to sell your home Kirsten is a great choice ....exceptional with her creative ideas, relentless in her energy, great in communicating and accessablity...... outstanding personal service. I could not be happier and I think you will be to. Kathy Camp (Inman Park, Atlanta) *************************
As a first-time homebuyer, the entire process of homebuying seems daunting. there is much to consider when making a long-term investment, and it easy to overlook something that might later prove to be important. As an experience d realtor, Kirsten helped me through the process. She made sense of the daunting volumes of paperwork, was patient in leading me through (very) many places, and kept presenting me with multiple options to consider.
Kirsten made the process go smoothly, and i am very happy with my new home. when i win the lotto and have millions to spend on a home, Kirsten will be the agent i contact to help me buy in, say, Buckhead!
thanks - Paul Kane, (Decatur)
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Kirsten--Thank you, it has been a pleasure working with you. It is clear to me that you care about your clients and are on top of your business which is very important in our industry.
Brent Newell, Mortgage Banker, Quicken Loans
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Kirsten--thank you for all your help and hard work with acquiring my new home. You were always very helpful and patient while guiding me through my first home buying experience. You are very knowledgeable about the real estate market, completely thorough in your work, and a consummate professional. I appreciate how you were always willing to "go the extra mile" for me. Your help is greatly appreciated and I would have no hesitation in referring you to family and friends. Thanks!
Thomas Butler (Woodstock)
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I used Kirsten both to sell my home in East Cobb and buy my new one in Alpharetta, and she was wonderful! She assisted me with staging my home, made sure that the pictures online showed all the upgrades I had done to my home, and even did a virtual tour. When I had issues that came up when I was out of town, she handled them for me. My home had almost a showing a day and sold in 13 days!
The home I purchased with Kirsten was new construction and even though it was a high end builder, there were some problems during the construction phase...I probably would have told them to forget the whole thing if I hadn't had Kirsten there to handle things!
Sheri Kordsmeier (Alpharetta)
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kirsten, thanks for practically picking us up from the airport and starting our search. we had such a short period of time in which to look for a home and with your help and expertise we pulled it off. thanks again for all your help. we are really enjoying our new home!
Ben and Beverly Amick (Marietta)
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Kirsten,
Thank you so much for all of the time and efforts you made to make my condo buying process a success. I truly wouldn't have been able to do it without all of your help and research. Thanks for going "above and beyond" to make my home buying dreams a reality!
Laura Pope (Buckhead)
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Kirsten:
We both want to thank you so much for all of your wonderful assistance in finding our new home. Since we were unfamiliar with the area, you provided us with a wonderful overview of all of the Atlanta areas and helped us hone in on the several areas that you thought might meet our needs. Although we didn't have a great deal of time on our house-hunting trip, you had done significant research on the area and had developed a great list of houses that both met our requirements and were within our price ranges. We are so pleased with our new home. We couldn't have done it without you! Bob and Jean Pascucci, (Acworth) (formerly Tampa, FL) ******************************* Kirsten-
Just wanted to thank you again for all your help in finding a place in Atlanta. I couldn't be more thrilled with where I'm ending up and I have you to thank for it. I so appreciate your thoroughness, attention to detail, perseverance and of course, patience.
I look forward to being settled in the near future and having you over as my first guest!
All the best,
Danielle Henry, Midtown (formerly NYC)
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Kirsten is one of the most thorough realtors we have ever met. Before we made an offer on a beautiful lakeside home in Gwinnett, she investigated some erosion issues that we'd heard might be the responsibility of the new homeowner. She talked with the mayor, the city clerk, the city attorney and neighbors to determine the risks and help us arrive at a fair offer. She'll go the extra mile and really does have the client's best interest in mind. If you need a focused, detail-oriented, energetic professional to find you a home or a buyer, you couldn't do better than Ms. Conover. David and Louise Sleet, Berkeley Lake
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