Posted on

What to know when buying a home October to December

Yes, we know the spring/summer seasons are the most popular time of year for home buyers. And this year, here in Atlanta, it was a crazy, busy, competitive season. Of course, if you were a buyer in this market, you well know what I’m talking about.

If all the craziness had you sitting on the sidelines, or losing out on a few homes, now may just be the perfect time for you to step back into the market. According to data released by Trulia, October through December is the best time of year for buyers as home inventory goes up and prices improve.

Also, in general, there are fewer buyers in the market and sellers are often eager to get their home sold and closed before the end of the year.

The combination of all of these factors make this time of year a great season to be shopping for a home and negotiating a competitive price. Speaking of negotiation – if you know me, you know I love negotiating a great deal 😉 – here are a few of the points of the deal that I like to use as leverage to get you a great deal on your home purchase during the fourth quarter.

Tax benefits

By closing before the end of the year, you will get all the tax benefits to closing in 2018.

Need to close before the end of the year

Often corporate relocations happen in the fourth quarter, so if the seller needs to have their home sold and closed on before the end of the year we can offer a nice, neat closing process to meet their end of year deadline.

Where do we want to spend the holidays?

If the sellers want to spend one last Christmas in their home or be moved out in time to spend it in their new home, this can be a great negotiation piece to make their holiday desires happen.

So, how about it? Are you ready to take advantage of the pendulum swinging closer to the buyer’s favor this season? If so, I’m happy to help you find your perfect place here in Atlanta, all wrapped up in a holiday bow.

~Jess

Posted on

Insider strategies for a successful sale

Yes, it is a seller’s market, but having a successful, uncomplicated sale is not effortless. It takes planning and work and the more consideration we put into the sale of your home, the more money you will make and the happier you and your buyers will be. So, I’m inviting you behind the curtain, backstage for some pointers on what you can do to insure the successful, uncomplicated sale of your Atlanta Luxury Home.

  1. Know your buyer. Today’s buyers, more than ever, prefer move-in ready homes. If you have been putting off basic updates, like carpets, paint, or floors, get those done before putting your home on the market. Your home will sell faster and for more money if it’s been updated with a neutral color palette.
  2. Timing is everything. Timing also has to do with knowing your buyer. Is your home ideally suited for a family? If so, you may want to time your listing so that buyers with kids can close and move during the spring/summer when school’s out. However, if you are selling an intown penthouse in a high-rise building, you may want to time your sale near the end of the year when lots of corporate transfers happen. Discuss the best timing with your agent.
  3. Marketing out of the box. Even in a seller’s market, you’ve got to market your home like a pro. Make sure your agent presents you with a thorough marketing plan that includes professional photography and videography as well as staging. The marketing plan should also include strategies such as social media and an open house for agents. If you want to fetch top dollar for your home, it’s got to look like a top dollar home. Buyers can spot value and they will willingly pay if they feel they are getting their money’s worth.
  4. Have a plan. Murphey’s Law is alive and well in real estate so I like to discuss expectations with my clients and have lots of contingency plans and strategies. For example, we’ll choose a starting price for the home, but if market factors change and comparables and competing properties pop up, we need to have a plan for how we will adjust for success.
  5. Assess the strength of the buyer. And, finally, if you want an uncomplicated transaction, assess the strength of the buyer before entering into a sales contract with them. I like to look for factors such as a short due diligence period. Now in Georgia, eager buyers can even offer option money, which is basically a good will gesture to sellers. At the end of the day, we like to see a clean offer from a buyer in a strong financial position that’s not asking for lots of contingencies.

If you look forward to a streamlined, successful sale of your home, these pointers will help you get there. And, equally as important as the above tips is choosing the right team members to work with that you can trust. As a third generation Atlantan and practicing real estate attorney I would be happy to guide you through the sale of your home and together we can make it as successful and uncomplicated as possible. Please reach out if I can be of any help to you.

~Jess

Posted on

Welcome to the Spring Home Buying Season: Luxury Home Market Update

Happy Spring, y’all! I just love the hope and promise of this time of year as we see the trees budding and spring bulbs blooming. Of course, in the housing market thoughts turn toward the peak home buying and selling season. Are you preparing for a move this year? If so, you may be interested to see how the Atlanta Luxury Home Market shaping up so far this year to help you make wise choices when it comes to your next move. Here’s what I’m seeing:

Housing market is strong in Atlanta.

So far this year, we’ve seen about 144 homes sell for $1 million and up (You can take a look at them HERE), with another 25 under contract (view them HERE), as of the publishing of this article.. Inventory has still been a little tight; however, it seems that the luxury market is leveling out a bit. The pendulum may be swinging toward buyers’ favor slightly.

Speaking of buyers, they’re looking for value.

Buyers are holding out for value, if the home is priced right, it’s selling; but they’re not going for homes over-priced. If you are listing your home, be sure that it’s priced right. For some guidance, take a look at my recent post on Pricing Right for some valuable tips. It also pays to have a plan for negotiations and what you’re willing to bring to the table or concede during your sale. As a practicing real estate attorney and Realtor® I’m happy to offer any advice or assistance. 😉

Still time to beat the rush.

Want to time the market? Beat the rush of competition? The good news is, it’s not too late! The peak season is upon us but we’re early yet, competition for homes is still at early-year levels. But if you’re ready to make a move, whether that means listing or buying, let’s get moving! Beginning the process now allows you to have more options and better, more serious buyers. I’m happy to work with you to accomplish your real estate goals for this year.

I often have clients and friends ask me if now is a good time to sell their home and upgrade to their next one with the tax law changes, rising mortgage rates, tight housing market. The answer is unequivocally, yes, it’s a great time! The facts are that the economy and job market here in Atlanta are great, the tax laws didn’t change much as far as your home purchase or sale goes; and mortgage rates are still historically low. The average mortgage rate over the last 45 years is near 8.5% for a 30-year fixed rate loan and current rates are hovering near 4.45% (according to Freddie Mac).

Here in Atlanta we’re looking forward to a healthy Q2 of 2018; so if you’d like to see how you can capitalize on this market, feel free to reach out, I’m happy to explore your options and see how we can help you achieve your real estate goals in 2018!

~Jess

Posted on

Sweet Spot: Atlanta housing market

Just like a sweet Georgia peach at its peak ripeness in the summertime, our current real estate market here in Atlanta is looking pretty sweet; whether you’re considering buying or selling. Now is an optimal time to make a move, especially if you want to close, move and have your family ready for the start of school in the fall. There are so many exciting developments happening here in Atlanta in job growth, our economy, and the revitalization of many of our neighborhoods. It’s no secret that the Atlanta market is heating up, so if you are planning to buy or sell a home this year, let’s get to work. Consider this your notice that the stars have aligned for you! Here’s why:

  1. The best listings are coming on the market now

    In my experience, most of the homes that are going to be put on the market are in the process of being listed now. So, if you are considering buying, it’s a great time to start your search. If you’re considering selling, you need to get your home on the market as soon as possible. Most buyers prefer to close in the summer – or at least before school starts in the fall so they can get their family settled. Don’t delay, it’s time now to call me to get to work for you!

  2. Mortgage rates are great!

    Rates right now have been hovering near their lowest point for the year – of course they can change at any moment. And, many of the mortgage experts are predicting rates will drift higher, especially as the Fed Policy continues to change throughout the year and they continue to raise their key interest rate.

  3. Home appreciation is favorable

    Home prices in Atlanta are rewarding homeowners as annual appreciation stands at an average of 5.5 percent for the last 12 months, as of the end of March, according to the latest S&P CoreLogic Case-Shiller Home Price Index. Also, we’ve struggled with available inventory in our area and it looks like inventory numbers are coming up a little too.

Life is busy, believe me, I understand. You’re trying to juggle life, family, career and consider a move. I’m here to guide you through the real estate process and make it as stress-free as possible. Give me a call and we can discuss your options and how I can take that burden from you and get to work on your behalf. I look forward to hearing from you and serving you soon!

Cheers,

Jess Cooke Scarborough

P.S. As a new service to help you become a savvier buyer and/or seller of luxury real estate here in Atlanta, I’ve launched my weekly blog. I hope you find this article helpful! If you have any questions, comments or ideas of subjects you’d like to see me cover here, just drop me a line. I look forward to hearing from you!