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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

  

 

 

 

 

 

 

Stimulus Package Example

by Leslie Edwards

Stimulus Package, How it Works

 It is a slow day in the small Saskatchewan town of Pumphandle , and streets are deserted. Times are tough, everybody is in debt, and everybody is living on credit

A tourist visiting the area drives through town, stops at the motel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night. As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher.

 The butcher takes the $100 and runs down the street to retire his debt to the pig farmer. 

 The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Co-op. 

 The guy at the Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit. 

The hooker rushes to the hotel and pays off her room bill with the hotel owner. The hotel proprietor then places the $100 back on the counter so the traveler will not suspect anything. 

 At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves. 

No one produced anything.  No one earned anything.  However, the whole town is now out of debt and looks to the future with a lot more optimism. 

 And that, ladies and gentlemen, is how a Stimulus package works 

 

 

 

3rd Quarter 2008 Henry County Real Estate

by Leslie Edwards

In Henry County, there are currently 3386 single family homes FOR SALE.  The average list price is $241,519                                  From July1st through September 30th, 2008                                801 homes sold with an average sales price of $172,920              1165 homes expired unsold                                                         41% sold and 59% expired unsold

For homes listed as foreclosures                                                   82% sold and only 18% expired unsold.  A huge difference.        The average sales price of the foreclosures in the third quarter was $152,191, 12% less than all sold homes.                                       The average list price of foreclosure homes for sale during the same period was $178,331 or $63,188 less than the average list price of all homes.

The increasing number of foreclosures selling under market, drives  prices down.  Anxious sellers accept low offers and the prices continue to fall. Sellers who owe more than they can sell for, often find themselves unable to make their payments, and they end up letting their homes foreclose which continues to depress values... and the cycle continues.....

Nobody knows for sure where the bottom is or when the market will turn.  Thirty years esperience as a Realtor, through several market shifts, has taught me that the market always comes back.  I don't know when, but I believe it will.

The downside of an upturn in the real estate market is that lots of people will be kicking themselves for not buying real estate while the market was down.

If you want to discuss buying or selling, call me for a FREE consultation with no obligation.  In any real estate market, the agent you choose is important.  In a challenging real estate market the choice is critical.

Call me                                                                                      leslie edwards                                                                              sells real estate                                                                               770.460.9448                                                                          RE/MAX Around Atlanta

see homes at www.leslieedwards.com  email leslie@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 

Henry County Real Estate Activity 1 Year, 6 Months, 3 Months

by Leslie Edwards

The residential real estate in Henry County for the past TWELVE MONTHS.

 Status                          #                 Average Price        Ave Mkt Days     %

 For Sale Now            3856             $256,485                    144                              13.31 Supply

 Sold                             3476            $200,465                    106            44%          289.67 per month

 Expired Unsold          4431            $242,726                    185            56%

The market for the past SIX MONTHS

 Sold                             1460             $193,560                     109           36%          243.33 per month

Expired                          2581            $243,106                     186            64%

The market for the past THREE MONTHS

 Sold                               597               $193,741                     114           30%           199 sales per mo

 Expired                        1419               $236,536                      187          70%

Translation:  Based on the number of homes that sold over the past year in Henry County, we currently have a 13.31 month supply of single family homes for sale now.

The average number of homes sold per month has gone from a one year high of  289.67 per month to a 90 day low average of 199 sales per month

The percentage of homes sold dropped from 44% a year ago, to 36% over the past six months to just 30% in the past three months.

The average sales price has dropped 3% in the past 2 months 

When you look at these numbers, compare the average price of homes for sale, sold or expired.  The average price of the homes that do not sell are clearly higher than the average price of the homes that do sell and often the average price of the homes currently for sale is higher than the homes that sold and the homes that expired. 

These are the facts.  The good news is that In any market, the best properties sell.  You have to have the very best property or the very best price.

If you want an aggressive, straighforward, no nonsense real estate agent, call me for a FREE consultation.  No obligation.   My 30 years of negotiating experience negotiating can save you money.

leslie edwards, the name you know in real estate, 770.460.9448 direct .  Email leslie@leslieedwards.com     or visit  www.leslieedwards.com where you can sell all of the properties listed for sale and get important real estate information.

A proud RE/MAX agent since 1979.

your comments are always welcome.  le

                                                                       

 

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 1-7 of 7

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!