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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

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Insider Strategies for Buyers

As a home buyer, have you ever felt at a disadvantage, whether it be because it’s a sellers’ market or you’re just plain intimidated by large, complex financial transactions like buying a home? Most of us have at one time or another.

I’m willing to bet you’d love some insider secrets for your next purchase. Well, my friend, that’s what I’ve got for you today! I’m a Realtor® now, but in my previous career I was a real estate attorney, so when I combine both of those skill sets I’ve got lots of great tips to help give you the confidence to feel like a budding real estate tycoon for your next home purchase.

Define your ‘win?’

The first thing you need to do is define what makes a win for you. Yes, getting your optimum purchase price is what most people think of first, however, there are other aspects of the deal that will make it a win, in addition to the financial piece. In a seller’s market it may seem tough for sellers to go for a win but we can negotiate some winning terms such as sellers contributing to closing costs and getting your preferred date for closing and transfer of possession. Or a win may be purchasing that piece of furniture you noticed fits exquisitely in one certain space in the home. Keep an open mind and be sure to discuss with your Realtor®.

In a multiple offer scenario

Find out how you can offer to sweeten the deal. Do the sellers need a quick sale? Do they need a specific closing date further in the future because of their constraints? Can you offer a cash purchase or shorter due diligence? Consider including an escalation clause in your contract, which allows your offer to be automatically escalated if counter-offers arise. Your agent should be willing to find out from the seller’s agent how a deal could be sweetened to get their attention. Be willing to act on those options.

Know what you’re buying

Since you are ultimately responsible for the home you are purchasing, make sure all the necessary due diligence is being completed. For example, make sure to have a home inspection, a survey and a radon test. I also recommend my clients request a home warranty and a termite bond. These items are not always standard practice, so protect yourself and your investment to insure they’re done properly and you have seen the results of any of the inspections and tests.

Above all, choose to work with a Realtor® that will represent you and your interests well. They need to listen to you and be willing to go the extra mile to make your purchase a success. If you need that kind of agent, I’m happy to help you! Please reach out by phone or text at 404.218.6714 or visit my website at www.jesscs.com.

Happy House Hunting!

~Jess

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What you need to know when pricing your luxury home

One of the most important decisions, as well as one of the most difficult when selling your luxury home is deciding how to price it. If we price it too low, you may lose out on profit potential; but if we price it too high it will languish on the market, decreasing the likelihood of fetching a good price the longer it sits. Of course, pricing is something we work on together. Choosing the right price can be difficult when selling any home but pricing a luxury home comes with a whole additional layer of complexity. Here’s how I like to approach the pricing of a luxury property:

Find the right comparables

Pricing in the luxury market can be challenging because there are often few (apples-to-apples) comparable sales for a variety of reasons. Factors that I look at when researching comparables include but are not limited to:

Customization
Location
Time of year
Other homes on the market

Look honestly at your home

In looking at comparable sales and properties, I also consider the strengths and weaknesses of your specific home compared to others that have recently sold as well as those currently on the market. We will also consider any upgrades or updates that may need to be made to bring your home in line with buyer expectations and other homes in the target price range.

Your goals

We also want to consider your goals for the sale. Do you need to sell the home quickly; or do you have time to wait for the right buyer at the right price? In the luxury market, the pool of buyers gets smaller the higher the price tag goes. Additionally, the stats – and my own experience – show that the first 2-3 weeks is the most important period.

Testing the price

I like to consider the first 2 to 3 weeks a great test of the pricing. Some of the questions I like to discuss with sellers are: Are we getting the interest we thought we would? Have other homes in the area or price range sold or come onto the market? Can we do better when it comes to pricing? How does this sale at this price compare to recent sales? If the answers suggest we need to make a change with pricing, now is the time to do it. Let’s pull the trigger and get the word out!

Remember, pricing correctly will make it much more likely that we get some good interest and even an offer in those first few weeks on the market. This will give you as the seller more leverage than if the home sits on the market for an extended period. One of the worst fates for your wonderful luxury home is to sit on the market long enough that real estate brokers and buyers begin to suspect something is wrong with the house. So, let’s get the price done right from the start!

If you would like help listing and selling your luxury home in Atlanta, please let me know. Put my experience as a Realtor®, Real Estate Attorney, and 3rd generation Atlantan to work for you. I pride myself in providing you with uncomplicated results for your luxury real estate sale and purchase.

~Jess