Determining a Home’s Value and Making solid Offers
In a market with extremely low inventory, a home is worth what someone is willing to pay for it. In Atlanta in the last couple of years we have seen anywhere between 10% to 20% increase in value annually. With the rise in interest rates, it has been predicted that the market will return to a more normalized rate of around 5% per year. If you are thinking of Selling I’ll provide you with an analysis to help you determine value.
What do Buyers need to do in this market to be competitive with all cash? It’s dependent to some extent on the price point. Many homes across all price ranges have sold this year all cash. We will watch the market closely to determine a fair offer. You will lose bids, be ok with that. You aren’t the only one. Eventually you will win!
To be competitive consider:
Offer above asking price if you have the ability to make up the difference in cash. It does not benefit you to offer above asking if you cannot do this. Go in at full price and entice by shortening or removing the contingency periods- due diligence, financing and appraisal, as much as you can.
Due diligence, I cannot recommend giving up your due diligence. I am a firm believer that you have the right and the duty to inspect your new home. At the very least, if you choose not to have a due diligence, have it inspected so that you know what you are buying.
Financing, give your lender EVERYTHING that they need for underwriting so that they can tell you with relative certainty what your max purchase price is so that you can decide if you want to give up your financing contingency.
Appraisal, if you have extra cash to make up any difference between the appraised value and the contract price it’s a great position to be in. You can then consider giving up your appraisal contingency.
If you cannot do any of these things you can still buy a house. Look for properties that have been sitting on the market for a while and consider making an offer on one.
What’s Happening In Atlanta Neighborhoods, Cities or Zip Codes?
Click on the links below for micro reports. Each report compares 4 areas based on the following criteria: Single Family Detached homes, 2500+ ft2, 4 bedrooms, 3 baths, built in any timeframe, over the last 3 years, rolling 12 month cycle.
Reports/links are live and always updated with the latest data available. If you’d like a report based on other criteria please call, text or email me with your needs.
REPORT A
City of Decatur, Greater Decatur, Historic Druid Hills, North Druid Hills
Average Sales Price: https://fmls.stats.showingtime.com/infoserv/s-v1/Rgty-Yeg
Number of Homes for Sale: https://fmls.stats.showingtime.com/infoserv/s-v1/Rgt6-trZ
Number of Homes Sold: https://fmls.stats.showingtime.com/infoserv/s-v1/Rgt0-rP2
Number of Days Home was on the Market: https://fmls.stats.showingtime.com/infoserv/s-v1/RgCd-noI
Months Supply of Homes: https://fmls.stats.showingtime.com/infoserv/s-v1/RgdS-MxA
Percentage of Original List Price Received: https://fmls.stats.showingtime.com/infoserv/s-v1/RgdJ-dgs
Number of Times the Home was Shown Before it Went Under Contract: https://fmls.stats.showingtime.com/infoserv/s-v1/Rgde-Y6h
REPORT B
Lake Claire, Candler Park, Inman Park, Old Fourth Ward
Average Sales Price: https://fmls.stats.showingtime.com/infoserv/s-v1/RgC5-yZB
Number of Homes for Sale: https://fmls.stats.showingtime.com/infoserv/s-v1/RgCI-GcK
Number of Homes Sold: https://fmls.stats.showingtime.com/infoserv/s-v1/RgC4-sVj
Number of Days Home Was On the Market: https://fmls.stats.showingtime.com/infoserv/s-v1/RgCk-SSD
Months Supply of Homes: https://fmls.stats.showingtime.com/infoserv/s-v1/RgC0-aun
Percentage of Original List Price Received: https://fmls.stats.showingtime.com/infoserv/s-v1/RgCN-3Bh
Number of Times the Home was Shown Before it Went Under Contract: https://fmls.stats.showingtime.com/infoserv/s-v1/RgCg-Wr
REPORT C
Poncey Highland, Virginia Highland, Morningside, Midtown
Average Sales Price: https://fmls.stats.showingtime.com/infoserv/s-v1/Rgmi-6f2
Number of Homes for Sale: https://fmls.stats.showingtime.com/infoserv/s-v1/RgmW-pBu
Number of Homes Sold: https://fmls.stats.showingtime.com/infoserv/s-v1/RgmI-bTm
Number of Days Home Was On the Market: https://fmls.stats.showingtime.com/infoserv/s-v1/Rgmn-CpM
Months Supply of Homes: https://fmls.stats.showingtime.com/infoserv/s-v1/Rgmg-Opf
Percentage of Original List Price Received: https://fmls.stats.showingtime.com/infoserv/s-v1/Rghd-9gp
Number of Times the Home was Shown Before it Went Under Contract: https://fmls.stats.showingtime.com/infoserv/s-v1/RghQ-tZO
REPORT D
Kirkwood, Edgewood, Grant Park, Cabbagetown
Average Sales Price: https://fmls.stats.showingtime.com/infoserv/s-v1/Rgh5-9tc
Number of Homes for Sale: https://fmls.stats.showingtime.com/infoserv/s-v1/Rghk-Ebl
Number of Homes Sold: https://fmls.stats.showingtime.com/infoserv/s-v1/Rgh0-AXJ
Number of Days Home Was On the Market: https://fmls.stats.showingtime.com/infoserv/s-v1/RghN-hxa
Months Supply of Homes: https://fmls.stats.showingtime.com/infoserv/s-v1/Rghg-zwz
Percentage of Original List Price Received: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg2C-Isl
Number of Times the Home was Shown Before it Went Under Contract: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg22-IcZ
REPORT E
Ansley Park, Sherwood Forest, Buckhead, Brookhaven
Average Sales Price: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg2q-uV0
Number of Homes for Sale: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg2X-Udp
Number of Homes Sold: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg2z-6lj
Number of Days Home Was On the Market: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg2D-s0F
Months Supply of Homes: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg2L-z76
Percentage of Original List Price Received: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg2I-Zvu
Number of Times the Home was Shown Before it Went Under Contract: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg2i-rbl
REPORT F
Sandy Springs Separated into Zip Codes- 30327, 30328, 30342 & 30350
Average Sales Price: https://fmls.stats.showingtime.com/infoserv/s-v1/RgQO-TAy
Number of Homes for Sale: https://fmls.stats.showingtime.com/infoserv/s-v1/RgQ3-ngh
Number of Homes Sold: https://fmls.stats.showingtime.com/infoserv/s-v1/RgQL-hEU
Number of Days Home Was On the Market: https://fmls.stats.showingtime.com/infoserv/s-v1/RgQM-8UJ
Months Supply of Homes: https://fmls.stats.showingtime.com/infoserv/s-v1/RgQ5-ZZQ
Percentage of Original List Price Received: https://fmls.stats.showingtime.com/infoserv/s-v1/RgQW-P9E
Number of Times the Home was Shown Before it Went Under Contract: https://fmls.stats.showingtime.com/infoserv/s-v1/RgQx-0OB
REPORT G
Dunwoody, Peachtree Corners, Norcross, Duluth
Average Sales Price: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg7B-v0g
Number of Homes for Sale: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg7f-4Gb
Number of Homes Sold: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg7Y-QSv
Number of Days Home Was On the Market: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg7F-6ZK
Months Supply of Homes: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg7w-1rG
Percentage of Original List Price Received: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg7O-ZzV
Number of Times the Home was Shown Before it Went Under Contract: https://fmls.stats.showingtime.com/infoserv/s-v1/Rg7A-TEJ
REPORT H
Roswell, Marietta, Alpharetta, Johns Creek
Average Sales Price: https://fmls.stats.showingtime.com/infoserv/s-v1/aKrC-uu7
Number of Homes for Sale: https://fmls.stats.showingtime.com/infoserv/s-v1/aKrh-UM9
Number of Homes Sold: https://fmls.stats.showingtime.com/infoserv/s-v1/aKrj-pW8
Number of Days Home Was On the Market: https://fmls.stats.showingtime.com/infoserv/s-v1/aKrE-2zL
Months Supply of Homes: https://fmls.stats.showingtime.com/infoserv/s-v1/aKr8-ig2
Percentage of Original List Price Received: https://fmls.stats.showingtime.com/infoserv/s-v1/aKrq-AXT
Number of Times the Home was Shown Before it Went Under Contract: https://fmls.stats.showingtime.com/infoserv/s-v1/aKrs-bSl
