Cobb County Housing Market Report From a Buyer’s Perspective

As we wind down the year, I am amazed to see how the Cobb County housing market has transformed over the last 12 months.  A year ago, it was a Buyer’s Market in most areas of Atlanta.  Fast forward one year and most of Cobb County is now experiencing a Seller’s Market.  This means that the Cobb County Market has gone from having too many homes for sale to now a shortage of homes for sale.   So what does this mean to home buyers?

1) More Competition -  Don’t dilly-dally

In some price categories, more buyers are in the market looking for homes than there are homes to buy.  This means that you should be prepared to potentially compete with another buyer to buy a home.  I have had many clients this year lose the house they really wanted to buy because they did not act fast enough.  If it’s a nice house at a good price – it won’t be on the market long.  If you “sleep on it” you may not “sleep in it”.

2) Be prepared to pay more

As competition for homes increase, buyers are oftentimes competing in a multiple offer scenario.  In most cases, homes that receive more than one offer at a time will sell for at or above list price.  In fact, in Atlanta 1 out of every 5 homes that sold in the 3^rd quarter sold for at or above the list price.

Even if there are not multiple offers on a home, the average sales price to list price ratio has been increasing.  This means that homeowners are not as willing to come off  as much on the list price as they used to be in the last few years.

3) Harder to find a “steal”

Home prices have dropped substantially since 2007.  In some cases, 30%  to 50% lower than they were at the height in 2007/2008.  However, the days where you can find a home drastically below market are becoming fewer and farther between.  In fact, we are starting to see prices go up ever so slightly in some areas of Cobb County.

Reasons to Buy a Home

So with all this going on in the market why do I still confidently say that it’s a great time to buy a Cobb County home.  Here are some very good reasons:

1. 1) The window is closing on great deals.  If you have been waiting for the real estate market to reach bottom, in my opinion, we may be there.
2. 2) Prices are still low but we may start to see them go up.  So you don’t have as much risk in losing equity after you buy.
3. 3) Interest rates are low at between 3.2% and 3.5%.

Check out The Connie Carlson Team Inventory of Homes For Sale

You may have been talking with a neighbor or simply heard a snippet on the radio or television, but suddenly you are aware that right now is a “seller’s market.” Thoughts of an instant million dollar sale of your home or timing the selling of your home may be coursing through your brain and if so, you should consult with a knowledgable real estate agent to get the inside scoop. The Cobb County area is experiencing low home volume and high demand which could place your home for sale in prime position {see Coffee with Connie video – Supply of Homes Shrinking in Atlanta for more details).

As a home owner, you may not understand the technicalities behind multiple offers and so working with a local real estate agent can provide you with the much needed guidance you’ll require to navigate your home sale. There are some simple steps that can aid you in getting multiple offers and the basics are outlined below.

Sell Your Home For More Money

• Stage Your Home for Sale – In a “seller’s market,” potential buyers know they need to act fast to put in an offer on the house (or houses) they like. Make sure yours is on that list by tending to every detail.  At the Connie Carlson Team we feel strongly about not putting your home on the MLS until the staging is completed and professional photographs have been taken and edited.  In most cases, we recommend that you have a COMPLIMENTARY staging consultation with our stager, Pat Shankle of Georgia Home Staging.
• Spread the Word – From hosting a Broker’s Preview to the open house and other advertising, make sure that your home for sale is being properly promoted. Attention must be drawn to your home in order for it to be seen and offers to be submitted. Give your home the promotion it needs by choosing an agent who knows How Buyers Found the Home They Purchased and utilizes the most up-to-date technology to reach the largest audience of buyers.
• Ask for a Lockbox – To have multiple offers, multiple people need to view your home (in staged condition) at all times. Realize that getting your home sold quickly will likely mean a bit of inconvenience for you in the short term. The sooner you accept an offer, however, the less time you’ll need to spend adjusting your lifestyle.

If you need more advice or simply want a real estate agent you can trust with your home, please don’t hesitate to call.  I’d love to get you multiple offers!

BUYERS – If you fall in love with a Cobb County home that is receiving multiple offers make sure you have an experienced agent working for you that knows how to negotiate the deal so you end up on top.  Watch How to Win A Multiple Offer video for tips and tricks that we use on the Connie Carlson Team.

The Primary Mortgage Market Survey® (PMMS) revealed on November 1st by Freddie Mac shows continued lowered interest rates, dipping below last week’s rates. This is good news if you are a Cobb County home owner hoping to sell your home.

Combining those low rates with news of Freddie Mac’s announcement that delegation agreements have been signed with mortgage insurance companies allowing Freddie Mac servicers to approve short sales more easily, may create even more sales than expected in the coming winter months and keep homes at risk of foreclosure available to Cobb County home buyers, too.

Senior Vice President of Servicing and REO at Freddie Mac, Tracy Mooney, is excited about the news as it will allow distressed Cobb County sellers to avoid foreclosure by making short sales a reasonable alternative. “We applaud the nation’s mortgage insurers for committing to work with us and our servicers to help more borrowers obtain short sales and other foreclosure alternatives,” she said. “By paving the way for more borrowers to avoid foreclosure, today’s announcement will support the housing recovery and help reduce taxpayer losses.”

Eligible buyers can currently lock in rates averaging 3.39% (.7 points) on a 30 year fixed rate mortgage or a 2.70% (.7 points) on a 15 year fixed rate loan as reported in the PMMS. The 5-year Treasury-indexed hybrid adjustable rates averaged 2.74% (.6 points) and the 1-year Treasury-indexed adjustable rates logged in at 2.58% (.4 points), showing consistent downward trends across the board.  Interested?  Talk to one of my Preferred Lenders for more details.

If you are a Cobb County home owner looking for a way to avoid foreclosure and are interested in a short sale, now is the time to sell your home. Contact me to discuss the new options made available with these announcements. I’d like to help in any way I can.  To find out more about the Freddie Mac announcement on short sales, click here.

On The Move & More, LLC – (www.OnTheMove4U.com)

Unpacking and Organizing your home, the day after the moving truck leaves— that’s our specialty. Since we’re the last service provider at the end of your move, we provide the peace you need to get completely settled into your new house, making it the home you’ve always dreamed of. We will send a team of professional organizers that quickly get those boxes unpacked and all of your personal items organized in your new home. We can help you arrange furniture, hang pictures, shop for those last minute items, and leave your home looking like you’ve always lived there. You’ll LOVE what we do for you. Call us today @ 770-634-1595

Squeegee Squad

Today I had the good fortune of hiring the “Squeegee Squad” to clean my windows – inside and out. It was a great experience! Rob Bounds, the owner, came out to the house when I was at work and left me an estimate to clean all my windows and the pesty chandelier that I can’t reach. They arrived on time with a crew of three, clean and professional men.

They were very careful of my furniture, drapes, etc. Now the sun is shining brightly again in my house.

Squeegee Squad
Phone 770-769-7338
SqueegeeSquad.com
Owner: Rob Bounds Cell #404-226-6461
Robbounds@squeegeesquad.com
101 Memorial Ct.
Dallas, GA 30132

So you have a vacant home that you need to sell and you are considering a home manager.   One of the best in Atlanta is Showhomes of Atlanta.  During the last 24 years Showhomes of Atlanta have assisted over 10,000 homeowners convert vacant properties into beautiful Showhomes.  As a result, these homes have usually sold for quicker and higher prices. Showhomes of Atlanta carefully selects individuals who have qualified to become Home Managers by owning beautiful quality furnishings and accessories.  Showhomes professional interior decorators help place their items in the home to create a model-home like atmosphere.  The Home Managers help with utilities and lawn/pool cost, while keeping the home “ready to show” Seven Days a Week!  When the home sells, Showhomes transfers the Home Manager prior to closing, leaving the home clean and fresh for the new home owner. While your home is on the market for sale, Showhomes of Atlanta will do the following – At No Charge To You!!

• Beautifully furnish and professionally decorate and stage the property like a model utilizing our professional interior decorators
• Help reduce holding cost
• Pay partial lawn maintenance cost: ie. mowing, edging, blowing, trimming
• Pay monthly pool cleaning cost during the marketing cycle
• Help protect the home from vandalism
• Help present the property daily from 9 am  to 9 plm in an appealing manner.

Showhomes of Atlanta www.ShowhomesofAtlanta.com 770-391-0852

In 1994, my husband and I decided that we were tired of the cold Chicago winters and that we would move to Atlanta.  That was one of the best decisions we have made in the last 18 years of our marriage.  We have been happy, Cobb County homeowners since 1994.  While I am currently very familiar with Cobb County, that was not the case back in 1994.

After deciding to move here we had no idea of where to move.  The Atlanta MSA covers ALOT of ground and we had friends giving plenty of advice on which part of Atlanta was best for us.

We chose Cobb County because we were ready to start a family and we liked the public school system in Cobb County.  We also both grew up in the midwest so we liked the open-feel of Cobb County.  We still have horse farms, pastures, and round hay bales dotting the landscape.  While we may have some agriculture, Cobb County is rich with business opportunity, shopping, dining and culture.

One service that I LOVE to provide to my clients is a FREE drive around Cobb tour.  Complete the form below and I will either send you my Cobb County Relocation package (maps, school guides, employment guides, attractions, etc) OR (better yet) we can meet the next time you are in town.

In addition, I will give you access to the Multiple Listing Service that I use to search for every home that is on the market.  Most public web searches do not have up-to-date or accurate information.  Go to the source – For FREE.

Welcome to Atlanta – I am looking forward to meeting you soon!

PS.  Make sure you indicate on the Contact Us form that you would like the Buyer Relocation Package.