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How Long Will It Take To Sell My House?

by Leslie Edwards

To figure out how long it should take to sell a home, I use a formula that will calculate the absorption rate of each neighborhood. Knowing the correct absorption rate for the neighborhood will help the seller determine a realistic asking price for their home. 

The absorption rate formula is based on past sales, days on market, and the amount of houses currently for sale in the neighborhood/area. This information tells us how many months supply of inventory is presently on the market, and therefore provides us with information that indicates just how many months it may take to sell a particular home.  

A 6 month supply of inventory is telling us that it may take a full six months or more to sell the house. In addition, a 6 month supply is considered a balanced market, but anything over 6 months indicates there are too many houses and too few buyers, indicating it may take up to a year or more to sell the house.  

A seller whose house falls into the category of 6 months or more should be willing to position their house, in terms of price, condition, and incentives, in a way that will give them a distinct advantage over their competition.

 Sellers have different needs, motivations and desires which typically determines how aggressive they should be on their asking price.     In today's challenging real estate market, because sellers are in a price war and a beauty contest at the same time, it takes aggressive pricing and staging to show the home at it's best.                                                                                                                                                               If you would like to discuss the absorption rates for homes like yours, call or email me.  I want to be your real estate resource. 

 

leslie edwards                                                                                 Environmentally Aware, Socially Conscious, Politically Active, Real Estate Agent                                                                                         770.460.9448                                                                                        CDPE Certified Distressed Property Expert                                                CRS   Certified Residential Specialist                                                       Epro  Certified Internet Professional                                                           ABR   Accredited Buyer Representative                                                    GRI    Graduate of the Realtor Institute Dave Ramsey Endorsed Local Provider

Selling South Metro Atlanta including:Clayton, Fayette, Henry, Coweta, Merewether, South Fulton & Spalding Counties

All the towns and cities south of the Atlanta International Airport, including: Brooks, College Park, Fairburn, Fayetteville, Jonesboro, Locust Grove, McDonough, Newnan, Sharpsburg, Stockbridge, Palmetto, Peachtree City, Tyrone and more                                                                                           Moving Families Since 1978                                                                       Let My Experience Work For You                                                               fax:  770.460.0739 See all of the properties for sale in the Multiple Listing Service at www.SouthMetroAtlantaMLS.com                                                                                          .com                                              leslieedwards@leslie RE/MAX Around Atlanta.com/blogleslieedwardswww.

 Almost everyone knows someone who is behind on their mortgage payments and wants to avoid foreclosure to save their credit, relieve the uncertainty, and most of all, help their family.

Have them call me for Short Sale and Pre-Foreclosure Solutions and let's get started on the path to recovery.

http://www.leslieedwards.com/Blog/What-is-a-Short-Sale-and-Why-You-Might-Want-One

  

 

 

 

 

 

 

3rd Quarter 2008 Fayette County Real Estate Market

by Leslie Edwards

There are currently 1350 single family homes for sale in Fayette County. The average list price of the homes for sale is $400,770.                     From July1st through September 30th: 308 homes sold with an average sales price of $299,044 down from the 1st quarter average sales price of $309,228.  392 homes expired unsold which means that 56% expired and 44% sold.

76% of the foreclosures sold with an average sales price of $235,598 while only 16% expired.  Foreclosures tend to be priced way under market, which helps drive the prices down, which forces anxious sellers to sell for less, which continues to drive the prices down. And it goes on and on....

But it is not all bad news. Smart buyers know that this is the perect time to buy.  Prices are down, interest rates are low and there are plenty of homes to choose from.  Buy low, sell high.

During my 30 years in real estate, I have seen a few really bad markets.  When Jimmy Carter was President, although the interest rates were 14% to 18%, people still bought homes.  I sold 40 houses in the worst year with no help, no fax, no cell phone and no GPS.

It is never as bad as the media would have us believe.  Real estate, like the stock market, moves in cycles, up and down.  Buy low, sell high.

If you want to or need to sell and are willing to sell at a discount, call me.  Experience pays in any maket.  In a challenging market, the agent you choose is critical.  I offer a FREE, no obligation, consultation to give you the information you need to make you real estate decisions.  Call me. I want to be your resource.

leslie edwards                                                                                   sells real estate                                                                                 770.460.9448                                                                                 RE/MAX Around Atlanta                                                                    Serving South Metro Atlanta

 

Fayette County First Quarter Market Statistics

by Leslie Edwards

Comparing Fayette Home Sales 1st Quarter 2007 With 1st Quarter 2008

2007  306 Homes Sold and 312 Expired which is about 50-50

2008  261 Homes Sold and 301 Expired or 54% Expired 46% Sold

The number of Sold homes dropped by 15% from 2007 to 2008

2007  Average 1st Quarter Sold price was $325,835

2008  Average 1st Quarter Sold price dropped to $309,228

The difference between the average Sold price and average price of listings that Expired Unsold

2007  $382,393 Expired  $325,835 Sold  $56,558 Difference

2008  $396,614  Expired $309,228 Sold  $87,386 Difference

There are currently 1476 homes listed for sale on Georgia Multiple Listing Service in Fayette County.  The average price of homes for sale is $405,857.

What does this all mean?  The real estate market is own from last year.  While sold prices are still dropping, the list prices continue to increase along with the average number of days on the market.

Even in the worst real estate market, the best homes sell.  The best condition, location, features and of course, the best price.

In the first quarter of 2008 I sold 10 times the national average for real estate agent production.  I have sold real estate for 30 years, through other challenging market conditions and I know when the market comes back it is usually with a vengance.  It may not happen for awhile so if you have to sell, call or email me and let's discuss your personal situation.  If anyone can help you, I can. 

leslie edwards

30 years experience is not expensive

It's priceless

leslie@leslieedwards.com

www.leslieedwards.com

Don't Wait ! Buy Now !

by Leslie Edwards

Many buyers are not buying because they are still waiting for the best deal or they are hesitating to buy until the interest rates hit "bottom".  No one really knows where the bottom is but most believe that we are at or very close to the bottom now.  The danger in waiting for the rate to hit bottom is that once it does it can move up again at any time.  Don't wait too long and miss an opportunity to buy at a great rate.  Many buyers who wait kick themselves when they miss the bottom and end up paying a higher interest rate than was available just days before. 

The "best deal" shouldn't mean that you choose your next home based on which seller will negotiate the lowest.  The "best deal" is when you get the home of your dreams at a good price and for a payment you an afford.  With the lowest interest rates in years, buyers can get more house for the monthly payment they want.

Even in the worst real estate markets, the best homes sell.  If you don't have to have the best house, then you can wait for the best deal.

If you are tired of waiting and are ready to find a great deal on your perfect next home, call me.  I can help you find the house and negotiate the best deal for you.

leslie edwards       see all the listings at www.leslieedwards.com    770.460.9448  RE/MAX 

Plastic is Slowly Killing Us All

by Leslie Edwards

 

For years I have told everyone who would listen about the dangers of plastic.  Friends think it's odd that I do not own any plastic food storage containers, no plastic glasses, cups, forks or water bottles, avoiding plastic whenever possible. I buy glass bottles instead of plastic,  I save and reuse glass jars and  my water bottle is stainless steel.  Plastic is everywhere, we can't get away from it.  But we can avoid exposure to plastic when possible.

I am not a finatic but I am aware and determined to spread the word.  Some research, usually funded by the plastic manufacturers, shows there is no danger from exposure to plastic.  Other independent studies shows serious dangers from ingesting plastic.  Different studies, conflicting results. 

 Be aware, read some articles, get the facts.  If there is any chance it is true, we have to stop giving our children plastic water bottles, sippy cups, toys, pacifiers, food containers, etc. 

The dangers of plastic gets very little press considering what a huge issue it is.  When I talk about it I can tell most people prefer to ignore the research. 

  My assistant bought some cooking oil in a plastic bottle to use for a party.  A week later, I opened the bottle and I could smell plastic and the oil tasted like plastic.  People have gotten used to the taste of plastic in drinks and food and continue to ingest the dangers chemicals used in manufacturing plastic.

Below are three links to articles about dangers of plastic.  There are hundreds of articles on the subject.  I urge you to read at least enough to know that when you microwave food, use glass.

http://www.webmd.com/baby/news/20030331/danger-in-plastic-baby-bottles

http://www.mindfully.org/Plastic/Plasticizers/Out-Of-Diet-PG5nov03.htm

http://rense.com/general64/plastic.htm

leslie edwards    the real estate agent   770.460.9448    see listings at   www.leslieedwards.com

Serving South Metro Atlanta Georgia

Nobody in The World Sells More real Estate Than RE/MAX

Raise Your Credit Score

by Leslie Edwards

1. Pay your bills on time

2. If you have missed payments, get current and stay current.  The longer you pay on time the better your credit score

3. Even if you pay off a collection it will remain on your credit report for seven years. 

4. If you cannot make your payments, contact your creditors or see a credit counselor

5. Keep balances low on revolving credit

6. Maintain fewer open accounts

7. Don't close unused credit lines.  Closing accounts will not help your score

8. Don't open new lines of credit

The best credit score is between 760 to 850

General loan guidelines will consider scores in the low 600's and sometimes even in the high 500's with compensating factors.

If you need help finding a loan, call me.  I work with some great mortgage people and would be happy to give you names.  It is always good to shop rates, but don't be fooled.  Often the lowest rate does not have the lowest costs and the difference in costs can make the lowest interest rate, the most expensive program for you. Get and compare all the costs, not just the interest rate.

Call me for a FREE, no obligation consultation regarding your real estate needs and dreams.

leslie edwards  sell real estate  770.460.9448 direct  RE/MAX  See 100,000+ listings for sale at www.leslieedwards.com

 

Displaying blog entries 1-6 of 6

If you hear of anyone who wants to buy or sell in any of these areas, please mention me and then call me so I can contact them. I appreciate your referrals!