Price it right and they will come in droves! A Buckhead Home Sale Story – January 2012
While it is true that 2011 was still very much of a buyer’s market, as Tim Francis Realty starts 2012 we are seeing trends that show parts of metro Atlanta housing are already in recovery. Prices are stabilizing, demand is high when a good property comes on the market, and homes are going under contract quickly.
Tim Francis Realty was happy to offer this lovely Buckhead / Brookhaven home for sale in early December 2011. Within the first week on the market, we had very strong showing demand (like something you would see in 2006) and a solid offer on the home. Now, just six weeks later, we’ve had a successful closing on this Buckhead Home.
Interestingly, the house was NOT a short sale or foreclosure. It was a regular sale of a 10 year old home. This lovely home was meticulous, offered at a reasonable price point and ready for a new owner. The change in market from last January to today is significant. Overall inventory for the Buckhead / Brookhaven / Sandy Springs area is down to levels of 2001. Demand for homes is high, as there are a number of buyers looking for the right home to come on the market for them.
Even while under contract the home had multiple showings with the knowledge it was under contract. During closing week, the home had more phone calls for additional showings. Real estate is completely local. Tim Francis Realty believes Buckhead & Sandy Springs in early 2012 is already stabilizing and ready to rebound.
What real estate trends are you seeing in Buckhead and Sandy Springs?
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Information and content on this blog is original to Michelle Francis
Michelle Francis
Tim Francis Realty, Serving Buckhead, Atlanta & Sandy Springs GA
(404) 219-9760
Want to know more about Residential Buying, Selling, Executive Home Leasing & Property Management in Buckhead, Atlanta and Sandy Springs, GA?
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Michelle * I thought about you as I watched RHWoA on tv last night...the homes in the area that they film are beautiful!
Price is most important factor. You can sell most anything if priced to market.
Wallace,
God bless that you watch that. I think I got in the way of the filming crew last year - they were not happy:-)
Edward & Celia,
Yes, it's tough to do, we didnt' give it away, but priced it to reflect today's current market.
All the best, Michelle
Michelle: I "suggested" this post for two great reasons. First, the lesson regarding the "correct" pricing of a home equaling a sale ... and secondly, the optimism and positive theme is conveyed. Both VERY worthy of a Feature ...
Great job on the sale ... and hope there are many more for you and your firm in the future ...
Gene
Michelle, you are so right - real estate IS LOCAL. Is your Buckhead/Sandy Springs market experiencing a shortage of listings? We have less than a 3 month supply here in our county and I keep reading about so many other improving market areas. It sounds as if a home for sale in Buckhead is priced well, it WILL sell very quickly and now may be a great time for people considering selling their Buckhead homes should call you for a market analysis.
Michelle, What a wonderful testament to getting a home priced right.. Hope the new owners enjoy it.
Michelle, CONGRATULATIONS! You're SO right--the market commands the price--not the seller! I've had this discussion over and over again with sellers. No more over-priced listings here--we're all just wasting our times as the seller looses money by way of carry costs. It's sad to watch and I absolutely love the sellers who 'get' that we do have the knowledge that they need to price it right and get it SOLD!
Hey Michelle:
Congratulations on the feature! This is a great summary of what works ... and why! Thanks for sharing the story.
we are seeing signs of stabilization here too. Now if we can get some jobs in Georgia we should start to recover.
Michelle that's what I like to see and here: A well priced home that is well received. Neither the sellers or buyers were playing around with this. Both meant business and you certainly did your part.
Michelle -- That was one HOT property! I'll bet the sellers were ecstatic with a quick sale no doubt due to your correct pricing and presentation, and I am sure the buyers are equally thrilled. Congratulations.
Congrats on the feature and the swift closing! It is so great to hear that local markets are starting to recover. Thanks for sharing and have a great weekend.
It is always about the price. If it's price right, it will sell.
Something that's easy to demonstrate but for some reason most sellers just don't understand it.
We see the same thing in NH...price it right, make it show like a 10 and it's gone!
Michelle, I like to hear that! Hopefully, that will trickle up the valley and we'll see a better 2012. I did see prices start to stablize about mid-year last year, but the sales are still pretty slow. Better day ahead! Congratulations on your quick turn around!! By the way, I don't remember if I mentioned, but I went to college at Luther Rice University in Lithonia, GA. Just minutes away from you all!
Michelle - that is so great. Congrats on the sale and yes, it does seem that the right pricing is the most important factor. So glad to hea that we seem to be on the pivot point of recovery.
Michelle, pricing it right always seems to get good results. Congratulations!
Michelle, you are right about the Atlanta market, overall the inventory is down considerably and the market does seem to have stablized. Congrats on the feature.
Judi,
New owners are thrilled too! Interestingly, at closing they shared they had been looking since JULY. We saw that time and time again with the buyer's agents - looking and lurking for new listings to pop up.
Debe,
It was a delight to help a client who would listen:-)
Carie,
Thanks! It's our job to make it happen. Thrilled when I can do that.
Tammy,
Yes, jobs would help, but I'll take what we have right now and hope to continue to build on it.
Charita,
I like it when a plan comes together. Price it right and they will buy.
Barbara,
Just talked with the seller's yesterday. Indeed they are thrilled, as it was time to sell for them.
Laurie,
I really believe we are starting to see a stabilizing to recovering market. it's exciting and makes me very optomistic for 2012 Buckhead Real Estate.
Luis,
It truly is ALL about the price for the value today!
Gabe,
You're right. I believe they want to cling to an older "past high price" in their hearts and minds. Only when they let go and get realistic willl they sell in today's market.
Rene,
Glad you are seeing this in NH as well. I know there are pockets all around the U S with this taking place. It's about time.
Mike,
Yes, it's one of the shortest days on market we've had in a while. The Buckhead market is moving! Hope it does come your way:-)
Debbie,
Pricing is key in all businesses. Glad we are seeing improvement!
Michael,
It's important to determine your goal and if selling the property is your goal - price is CRITICAL.
Kathy,
Yes, aren't we thrilled to see this improvement in Atlanta. It doesn't seem to be accross the board, but pocket by pocket. Now, if we can see some price improvement in 2012!
Michelle - It sounds like your market is definitely firming up. I agree, real estate's local and that's why you need to talk to a local expert.
Hi Michelle,
A HUGE Southern congratulations to you! It's pockets of improvement now, but I don't want to see the whole of metro Atlanta change positively. Much continued success to you and Tim and your team!
Michelle, that's great news about your market. And it's still January. The market has been strong out here also.
Michelle, I can never hear enough great stories like this!
We've seen some of this going on in my area as well. We have a lot of nice homes that are well priced with multiple offers on them. It's definitely a different year. Happy 2012! -Kasey
No matter the market, if you price a home correctly and have it show ready they will sell in days rather than months.
HI MICHELLE! What a nice looking home - price is the bottom line - always!
Michelle ~ What a great real estate success story this home sale was! News like this is always encouraging, and as you pointed out a home in good condition and priced right WILL sell. We are seeing fast sales here in the Portland area too for homes that are move-in ready and well-priced.