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New Year, New Opportunities: Atlanta Luxury Real Estate Edition

Happy New Year to you! This is going to be a GREAT year! The beginning of a new year is such a fantastic time to grab hold of your plans, dreams, and goals and put them into action, right?! It’s also a time to think about your plans for your home. Are you considering relocating, upgrading, downsizing or buying an investment property? If so, I’ve got some valuable inside information to help you have greater success in your home transactions this year.

As for the Atlanta real estate market, we are expecting much strength in home listings and purchases this year as the Atlanta job market and overall economy are both very healthy and strong. According to the National Association of Realtors® (NAR) real estate sales in the Southern states will outpace that of the rest of the nation. Housing inventory is expected to rise for the first time since September 2015, opening up more opportunities for buyers and leading to an increase in home sales over and above 2017’s record breaking year.

As for the luxury market, where I specialize, we see the market looking good as well. Yes, I know the media talks lots about how the new Tax Reform will affect housing and according to our brokerage and NAR alike, the net-net affect of tax reform will be minimal on our strong, healthy housing market. One of our top selling Atlanta Realtors® is quoted as saying “no client has ever based their decision to buy or sell a home on changes in the tax code.” I agree. (If you’d like to read a deeper dive on Tax Reform, visit Beacham’s great article.) So, let’s consider your goals for this year regarding real estate.

Sellers

If you are planning on listing a home for sale this year, let me be the first to advise you that now is the perfect time to get rolling on your plans. Not only does it take time to get your home ready for sale; but also, these 12 weeks before the peak home selling season begins in the spring are the prime time to capture buyer interest as many buyers begin their search online in January. We see significant spikes in web traffic on searches for homes during the month of January.

As a seller you can grab a competitive advantage, which is especially important in the luxury end of the market as the volume of buyers are fewer. So, what can you do right now to begin your preparations?

  1. Begin to Stage and De-clutter – Please give me a call and I’m happy to visit your home, discuss your options and help you begin to think about staging and decluttering your home to make it look its best.
  2. List any needed repairs, maintenance, or improvements – Many of today’s luxury buyers want updates and upgrades done before they move in. But which ones? We can create a plan together to address home improvement items so we can earn top dollar on your sale. I have lots of trusted resources I can recommend to help us each step of the way.
  3. Your Timeline and Next Steps? Once you decide to list your home, you need to think about your timeline, when you’d like to close, what commitments you currently have (i.e., vacations, obligations) that you will need to work around. Also, think through all the scenarios and timing regarding your next move. Will you buy right away or move into a rental? Where will your belongings be stored? We can walk through these details together as we put together a plan for you.

 

Buyers

For those looking to buy, now is a great time to begin your search. In many price-points, inventory has been a challenge for Atlanta home buyers. If you’ve been one of them, consider this time of year your VIP Preview to the peak home buying season. Now is the time you can get in and see homes with fewer buyers in the market. So, what can you do now to prepare to purchase?

  1. Set your budget – Whether you are paying cash or using mortgage financing, now is the time to get your finances in order, see how much you have for a down payment, and call your mortgage advisor to get pre-qualified.
  2. Make your wish list – What are you looking for in a home? What are your non-negotiables? What are your nice-to-haves? What are the neighborhoods and school districts that you’d like to be in? Discuss these with your spouse, partner, or family members and come up with a realistic list.
  3. Determine your timeline – Start thinking about your timeline. Do you have any restrictions or requirements on when you can and/or want to move based on work, school, or planned trips? For example, many families prefer moving in the summer, so kids can start the new school year in their new school. We’ll do our best to find a home and a seller that can work within your timeline.

Whether you plan to list your home or buy this year, now is your prime time to get started! All this month, I will be providing valuable tools for sellers and buyers to jump start your housing plans for this year. Reach out as I’m happy to guide you toward your goals in 2018.

All the best to you this year!

~Jess

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Insider Secret: List in January!

Are you planning to list your home in the new year? If so, I’ve got some insider secrets to share with you to help you beat out the competition, get more money for your home and sell it within your desired timeline. It all goes back to the old adage, “the early bird gets the worm.” And in this case, the early birds are shopping for worms – homes – beginning in January. According to the latest research published by the National Association of Realtors (NAR) 88 percent of home buyers begin looking for their next home using the Internet – not really a surprise, right?! However, what is surprising is that buyers start researching homes 12 weeks before they commit to a home, making January the prime time they begin shopping in order to close and move during the peak spring and summer market. The trend bears out with our own website! Beacham & Company sees the greatest jump up in website traffic in January! 

Interesting, you say? Year after year we see this trend play out and in the luxury market, taking advantage of the trend is even more important. Luxury homes, on average, spend more days on the market than average priced homes and the buyer pool is generally smaller. So, if you are planning to list your home in 2018, I strongly suggest we get to work making that happen come January.

What are Next Steps?

  1. Make an appointment with a Realtor® – Your first step, once you decide you’d like to explore listing your home in 2018 is to call a Realtor® to discuss your options and talk about your plans. Of course, I’d love the opportunity to put my experience to work for you. As a 3rd generation Atlantan, Real Estate Attorney and Realtor®, I have a unique skill set to better help you find your ideal home and give you that extra edge at the negotiating table.
  2. Prepare to stage your home – Once we’re ready to move forward, we’ll tour your home with an eye for staging it for sale. Whether we decide to hire a professional staging consultant or do it ourselves, we will identify any fixes, improvements or most often, decluttering and shifting around that will accentuate the beauty and functionality of your home.
  3. Prepare to have your home photographed – Compelling photography was identified in NAR’s study (mentioned above) as more important to buyers when browsing your listing than detailed information about your property – including price! We’ve heard about the importance of high quality photography time-and-time again which is why we have phenomenal photographers on staff and take the time to help you prepare to have your home photographed. 

So, if you plan on listing your home in 2018, my insider advice is to consider listing in January to beat the competition and give yourself the best chance to sell within your timeline and for top dollar. We have seen it happen year-after-year that sellers listing in January get a headstart on all those who wait until spring to list. Please, reach out, I’d be happy to answer any questions and discuss your options for listing in the new year.

~Jess