In previous articles, I’ve mentioned that hiring an effective agent is key to a successful real estate transaction – and goes for whether you are buying or selling. But I’d like to help clear up what is factual about the current real estate market in our area.
First, it is not a buyer’s, but rather a seller’s market. Even though the inventory levels are slightly increasing, sellers still have an advantage. I know that’s something buyers don’t like to hear, but it is a fact. That being said, many buyers are still behaving as though the market is in their favor and want bargain-basement prices on top quality properties.
So exactly what is going on?
Well, at this time I find three types of properties available.
- Houses that are in terrific shape, both inside and out. Fresh paint, new carpeting, updated kitchens, new shiny appliances and of course – granite, marble or synthetic stone-like countertops.
- Residences that may need some slight to moderate fixes. Maybe some renewed landscaping, or one of the desired items above. While these properties are usually just fine, they may not satisfy buyers who don’t wish to spend the time and money on bringing the home to meet their sought-after environment.
- Moderately to extremely distressed properties. These are usually suitable for investors who want to pay someone to considerable renovation and repair, or for those who maybe decide to do it themselves. These typically need everything repaired or replaced – roofing, appliances, plumbing, HVAC, windows, decks, fences, etc., and will take time and money before they are suitable for move-in or re-sell.
When working with sellers, I do my best to help them prepare their properties to allow them to receive the maximum sale price that the market will bear. Indeed, the condition of the property, both inside and outside, is one of the key determining factors that will place the residence in one of the three classifications above. Even with today’s inventories still, on the low end, most of the time buyers are ignoring the market conditions and wanting the quality of a new home, when they view resales at rock-bottom prices. It requires considerable expertise and education by the representing agent for both buyers and sellers to understand the reality of value concerning the sale price. That is one way in which I help provide direct solutions to challenges thereby creating value for my clients.
Whether you are a Millennial, Gen Xer, or Baby Boomer trying to figure it all out, call us at (404) 630-2985. You can put your trust in the professionals at Deon Cannon Realty – we’re always willing to help you and to serve your real estate needs. Call us today, and we’ll begin working with you right now to develop a sensible and robust plan to sell your home or find the one that’s perfect for you.