What is Different about This Market than in Years Past?
By Sherry Ajluni
I've been giving this question some thought lately. We've been through buyer's markets before, so what is different this time? A buyer's market means there is more than 6 months of inventory on hand. I am seeing inventory on hand creep up closer to the 12 month range in certain areas and price ranges again. It had reduced to 8-10 in some price ranges and areas of North Atlanta. This is peak selling season so we would expect some increase in inventory but there are obviously still not enough buyers out there to absorb that inventory fast enough.
So what is selling and what makes a buyer pick one property over another? Well, what we are seeing is that buyers not only want the great deal, they also want an updated property. Even properties listed at great prices for their communities tend to sit longer than they should if they don't have the latest updates. The kiss of death for some? White kitchen, white laminate or even white solid surface counters, old worn carpets, homes in need of painting (interior or exterior). Are they all cosmetic? Yes! If a house looks updated but has old HVAC units, will it still sell? Yes! Now, they have to work of course, but if they are old, we can get past that and get the house sold. That white kitchen, wallpaper, and other updating needed will hurt pricing more than outdated HVAC. I'm sure that's not what the HVAC companies want to hear, or the roofing companies, but hey, we live it every day, and we know what buyers are looking for!
Young buyers have their hands full with work or young families and don't want to take the time to do the updating. Older clients may have already been through that on their last house and just don't want to do it again. And neither has to if they just wait for the right house! I am seeing houses go under contract that are priced significantly higher than the ones that need updating- more than the updating might even cost to do. That doesn't surprise me for the buyers that are moving to the area that need to be able to just move in, but it does surprise me somewhat for those buyers that call themselves the deal shoppers! They look at foreclosures that look like the houses only Eddie Monster would love and think they are getting a deal (this takes me back to a saying my Dad had for my Mom after a full day of shopping - "you'd buy s**t if it was on sale!")They need to calculate what it will cost to update them! I've honestly thought about just listing our regular listings as foreclosures and watching people fight over them. Ridiculous. I'll give you an example... we sold a well maintained, move in perfect home in a nice community at $565,000. A foreclosure hit the market a couple months later at $509,000. The house was bid up to $551,000. What??? Were they looking at the same house I was? Yes, same floor plan as ours, great house, but needed work- paint, carpet, exterior work. So, did they get a deal? I would say NO! It's just like shopping in general, not everything that is on sale is a good deal. Or as Kenny Rogers said, "You have to know when to hold ‘em and you have to know when to fold ‘em". That would be a good reminder to those foreclosure bidders.
So, my advice to homeowners and those thinking of selling in the near future, get your homes updated, move in ready- granite, carpets new or nearly new, neutral paint, get rid of brass, good general maintenance, clean- and then list them as foreclosures! Just kidding. Do get them move in ready and updated, then call us to list them and they will sell! We have a good track record so far with over 30 homes sold so far this year. It's still a challenging market out there and you need a team that will fight for you. We haven't lost an appraisal yet either- don't know anyone else that can say that. Appraisals are coming in low; appraisers have to be very conservative. We haven't had to lower ANY of our purchase prices due to an appraisal coming in too low, and that is happening everywhere.
As always, please don't hesitate to ask if you have any questions at all about your area, community or individual home- from what to update to what's it worth? We're here to help! Write us at Info@SherryandMariaTeam.com. Helping you maintain the most value in the biggest asset you have...
The Avenue Forsyth keeps their events calendar active Every other Thursday from 6-9pm with Jazz in the Park. The first Jazz in the Park will begin today, May 27, 2010 with the Dean Balkwell Trio performing.
If you're looking for an excuse to visit the Avenue Forsyth (or just sit back and relax with the family), come out to visit Jazz in the Park.
Event sponsored by Relax the Back. For more information click here to visit the Avenue Forsyth website.
Welcome Home
The Sherry & Maria Team
Keller Williams Realty
Sherry 678.283.1710
Maria 678.548.5513
www.sherryandmariateam.com
We're never too busy for your referrals!
Each Keller Williams office is independently owned and operated. Equal housing opportunity.
There's a new pizza in town and it's called Pizza Primo! The Knapp family has brought their secret recipes from their restaurants in Michigan and will soon be opening Pizza Primo! in South Forsyth. I've known about this opening for months now and I can't tell you how excited I am! We have some decent pizza in the area but nothing like they make in Chicago. If you have never had Chicago style stuffed pizza you are in for a real treat. It's not just the style of pizza that will make Pizza Primo! stand out but the high quality ingredients, like a blend of 4 all natural cheeses, high quality meats and fresh veggies.
Pizza Primo! will also be serving a traditional hand-tossed pizza, subs and gourmet salads. The same rule applies for all of their signature dishes- only the highest quality ingredients are allowed! The owner, Reed Knapp, talks about his "Bold Sauce". My mouth is watering already. He says his subs are piled so high you'll need a larger mouth to eat them! He talks about customers stopping him in his Michigan restaurants and telling him that "This is the BEST pizza I've ever had!" Their only complaint, "It's more than we can eat!"
The Knapp family consists of Reed, Jennifer, Jordan (14), Tyler (12) and Heidi (11). They have been in the pizza business for 25 years. According to Reed, "It's in my blood". Their first Pizza Primo! will open in late April, is open 7 days a week, and is located at the corner of Windermere Parkway and Front Nine Drive. Reed is busy scouting out areas for additional restaurants. The Knapp's are happy to be residents of South Forsyth and really appreciate the "Southern Hospitality" they have received. Sounds like the kids are loving the area schools too! They look forward to serving their neighbors. Please stop in to say "Hi" and try a pizza, sub or salad you won't soon forget! Use the coupon below. Enjoy!
Vist their website at www.pizza-primo.com
Location: Windermere Pkwy at 4415 Front Nine Dr., Suite 100 Cumming, GA 30041
Welcome Home
The Sherry & Maria Team
Sherry 678.283.1710
Maria 678.548.5513
www.sherryandmariateam.com
We're never too busy for your referrals!
Here are a few ways you can help with donations to Haiti:
1) Hope for Haiti Program: www.hopeforhaiti.com
2) Text HAITI to 90999 on your cell phone to donate $10 to the Red Cross. Your donation is billed directly to your cell phone.
3) Partners in Health Program: http://pih.org/what/PIHmodel.html
At this current time, over 4 million dollars has been raised from option #2 Texting HAITI to 90999.
The Sherry & Maria Team
Keller Williams Realty
Sherry 678.283.1710
Maria 678.548.5513
www.sherryandmaria.com
www.sherryandmariateam.com
Top Ten Team, North Fulton & Forsyth Counties
We're never too busy for your referrals!
Here's information analyzing the 3rd Quarter for Alpharetta Real Estate and the surrounding North Atlanta Real Estate market. Our team sets aside time to analyze the market in order to be able to educate our clients on how to realistically list their home to sell or - as a buyer - what they should expect to pay for a home given the current market conditions.
3rd Quarter Area Stats for Alpharetta, Johns Creek, Milton, Roswell, Cumming
Median Sales Price by Area
Area 13 $325,000 (7.6% decrease from 2nd Q 2009)
Area 14 $321,500 (2% increase from 2nd Q 2009)
Area 221 $301,750 (2.7% decrease from 2nd Q 2009)
Area 222 $237,250 (2.85% decrease from 2nd Q 2009)
Foreclosure % of Sales
Area 13 9% (3.8 decrease from 2nd Q 2009)
Area 14 9.6% (1.9 decrease from 2nd Q 2009)
Area 221 19.10% (0.9 decrease from 2nd Q 2009)
Area 222 17.60% (6.1 decrease from 2nd Q 2009)
# Homes Sold
Area 13 299 (9 increase in sold homes from 2nd Q 2009)
Area 14 375 (45 increase in sold homes from 2nd Q 2009)
Area 221 299 (14 increase in sold homes from 2nd Q 2009)
Area 222 176 (7 increase in sold homes from 2nd Q 2009)
Overall median sales prices decreased in some areas; however, increased slightly in others. Areas that saw a decrease most likely experienced this due to a direct reflection of short sale transactions. Presently, short sales are not documented as foreclosures so even though foreclosure sales are decreasing, we still have a number of short sales continuing to hit the market which may continue to have a negative impact on median sales prices.
Total homes sold increased during our third quarter which may have been a reflection of the first time home buyer tax credit deadline. Since the tax credit deadline has been extended, we expect our total homes sales to continue to increase for 2010.
**AREA 13: FULTON NORTH - West of Ga. 400 and North of Chattahoochee River to County lines (Alpharetta Real Estate, Roswell Real Estate and Milton Real Estate).
**AREA 14: FULTON NORTH - East of Ga. 400 and North of Chattahoochee River to County lines (Alpharetta Real Estate, Johns Creek Real Estate, Roswell Real Estate, Duluth (Fulton County) Real Estate, Suwanee (Fulton County) Real Estate).
**AREA 221: FORSYTH COUNTY - East of Ga. 400 (Alpharetta (Forsyth County) Real Estate, Cumming Real Estate, Suwanee (Forsyth County) Real Estate, Gainesville (Forsyth County) Real Estate).
**AREA 222: FORSYTH COUNTY - West of Ga. 400, South of Hwy. 20, including City limits of Cumming (Alpharetta (Forsyth County) Real Estate, Cumming Real Estate.
For additional information about the Alpharetta Real Estate market, Cumming Real Estate market, Johns Creek Real Estate market, Milton Real Estate market, Roswell Real Estate or Suwanee Real Estate market - contact the Sherry & Maria Team today!
The Sherry & Maria Team
Keller Williams Realty
Sherry: 678.283.1710
Maria: 678.548.5513
www.sherryandmaria.com
www.sherryandmariateam.com
Fresh Ideas...Fast Results!
Information gathered from Chartmaster Service, LLC.
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If you are buying or selling a home in the North Atlanta area, we're here to help you every step of the way. Your real estate needs always come first. Fresh Ideas,Fast Results. www.SherryandMaria.com
If you are buying or selling a home in the North Atlanta area, we're here to help you every step of the way. We service the areas of Alpharetta, Cumming, Duluth, Johns Creek, Milton, Roswell and Suwanee Georgia. Experience, attention to detail and concern for our clients set us apart from other real estate professionals. We go above and beyond to make sure our clients get personalized attention right when they need it, not days later. We make sure they are making the right purchasing decision for them, even if it means not making a sale for us. We always think "resale!" You also won't find many agents that are more technologically savvy, which is essential in today's market. Where do over 90% of all people go to search for a home? The internet! Check out our website and you will see that we make the search process easy for buyers. Our listings are also on hundreds of other nationally recognized sites including google base, yahoo real estate, trulia, zillow, realestate.com, realtor.com and hundreds of other agent websites that we co-op with for maximum exposure. Our average days on market is 50 through December 2009, as compared to market stats of 100 days or more! We take creativity to new levels and negotiate hard to benefit our clients. Sherry is a degreed marketing professional with a background in advertising and brand management. Maria is a degreed middle school teacher with experience in education, training and sales. We are married and live work and play in the Alpharetta/Cumming area and have a vested interest in our community. We are dedicated to making your move effortless... check out our testimonials below. Our Value Proposition: Fresh Ideas, Fast Results! For information on the North Atlanta community including Alpharetta, Cumming, Duluth, Johns Creek, Milton, Roswell and Suwanee, go to http://www.sherryandmaria.com/Community_Information/page_1897882.html. About Sherry: About Maria: Thinking about Relocating to the North Atlanta area? Contact us for a Relocation Package. For more information on how we can help you buy or sell a home in the North Atlanta area, go to http://www.sherryandmaria.com/
Sherry has over 10 years of marketing experience working for Fortune 500 brands like Whirlpool, KitchenAid and Disney. She uses her creativity to market homes that sell quickly! She prides herself on communication skills, pledging to always keep her clients informed throughout the buying or selling process. She focuses primarily on listings. This focus allows our team more time to generate buyers for our listings and allows Sherry the time she needs to successfully market each home. Sherry is also an expert negotiator with professional contract negotiation training in Washington, DC.
Maria has a background in training, education and sales. Her skills in listening assist our buyers in finding the perfect home to meet their needs quickly! She saves her clients time by previewing homes, gathering information on the area, schools or anything else they desire. She has proven herself to be a great negotiator. If you want the perfect home in the shortest period of time, put Maria to the test!
The Sherry and Maria Team are members of NAR (National Association of Realtors) as well as the Atlanta Board of Realtors. We are also Million Dollar Club Award Winners. What does that recognition mean to you, our buyer or seller? It shows that we are experienced in real estate helping our clients purchase and sell homes. Let us show you how we can utilize our experience to help you!
Our team is strategically set up to focus on both buyers and sellers.
We specialize in the North Atlanta area including Alpharetta, Cumming, Duluth, Johns Creek, Milton, Roswell and Suwanee.
Search Alpharetta Homes for Sale
Search Johns Creek Homes for Sale
Our goal is to provide you 10+ service to make your home buying and selling process as simple and stress free as possible. Listen to what our clients have to say about their experiences with us...
"I feel like you were by our side every step of the way. We have had other realtor's that just dropped us once the sale was made but you are there through the entire process. You are a full service realtor and we feel lucky to have worked with you. Thanks for everything!"
Scott and Wanda, Alpharetta, GA
"Whether you are an investor or a buyer looking to relocate, they patiently guide you through the process of finding the right house, the right deal in the right timing that fits your situation. They did so much more than sell us a house...they taught us what to look for, where to search, what questions to ask and how to find the answers. They also surround themselves with a network of excellent, hard-working, honorable professionals giving her clients access to top-notch help and customer service at every step. We feel fortunate to never again have to search for a real estate agent."
Dan and Jenny, Roswell, GA
"You are an absolute professional. You have a no-nonsense style which minimizes all of the drudgery while focusing on the important issues in buying a home."
Bill and Vicky, Roswell, GA
"You were very consistent in following through with all details related to the selling of our previous home and the purchase of our home, and you were always quick to respond to any questions that we had."
Charles and Cheryl, Cumming, GA
"From the moment you showed up, I felt at ease about everything. Your professionalism and "it's not a problem" attitude was reassuring. You offered helful advice and tips and made very good recommendations for minor repair work. The photos you took of our home were professional and attractive. The way you positioned our home and the exposure you provided aided in a very quick sell! We really liked that you did all of the negotiations (and very well I might add) with the buyers."
Mike and Karla, Alpharetta, GA
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