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Farm your niche market and cover all the happenings in your neighborhood
I'm seeing a lot of foreclosures being priced very aggressively. It's creating multiple offer situations. I am working with a buyer right now who has been beat out of a foreclosure deal by someone else four times over the past few months.
He tells me that if it's a "buyer's market" why should he have to pay any where near asking price. It has been very frustrating. I began wondering if it was just bad luck on my part that just about every "great deal" that I find for my buyers is getting competing offers.
So I did a small analysis. I searched for single family detached foreclosures that have sold in the past 30 days that are in the northern half of Atlanta above $100,000. What I found was that the 325 sales had a average sales/list price ratio of 92%. Also, 106 of those 325 sales sold for the list price or above. So about 1 out of 3 foreclosures are getting full price.
Sometimes looking at the raw data gives people a better feel for what's going on. So here is the data for those foreclosure sales just so you can see for your own eyes what's actually going on.
List Price
Sale Price
Activity Date
Sales price - list price
$1,089,900
$900,000
5/19/2009
($189,900)
$805,000
$690,000
5/19/2009
($115,000)
$799,900
$730,000
5/13/2009
($69,900)
$769,900
$659,000
5/11/2009
($110,900)
$550,000
$510,000
6/3/2009
($40,000)
$475,900
$477,900
5/19/2009
$2,000
$346,000
$325,000
5/26/2009
($21,000)
$288,900
$275,900
5/8/2009
($13,000)
$248,900
$242,000
5/26/2009
($6,900)
$204,900
$190,000
5/29/2009
($14,900)
$149,900
$146,650
6/2/2009
($3,250)
$139,900
$94,900
5/18/2009
($45,000)
$139,900
$146,000
5/19/2009
$6,100
$599,900
$595,000
6/3/2009
($4,900)
$475,000
$480,000
5/18/2009
$5,000
$429,000
$425,000
5/11/2009
($4,000)
$400,000
$391,000
5/6/2009
($9,000)
$305,000
$350,000
5/14/2009
$45,000
$279,900
$276,200
5/7/2009
($3,700)
$249,900
$225,000
5/14/2009
($24,900)
$219,900
$215,000
5/21/2009
($4,900)
$209,900
$216,900
5/18/2009
$7,000
$186,300
$180,000
5/8/2009
($6,300)
$181,900
$173,800
5/29/2009
($8,100)
$179,900
$174,900
5/27/2009
($5,000)
$175,900
$175,000
5/21/2009
($900)
$129,900
$130,000
5/6/2009
$100
$110,000
$110,000
5/8/2009
$0
$1,299,000
$1,099,000
5/18/2009
($200,000)
$939,000
$851,000
5/12/2009
($88,000)
$891,900
$768,000
5/28/2009
($123,900)
$249,900
$230,900
5/27/2009
($19,000)
$899,900
$750,000
5/27/2009
($149,900)
$309,900
$284,500
5/20/2009
($25,400)
$209,900
$212,000
6/3/2009
$2,100
$199,900
$226,000
5/6/2009
$26,100
$188,155
$186,000
5/29/2009
($2,155)
$142,500
$143,900
5/21/2009
$1,400
$139,999
$142,250
5/18/2009
$2,251
$129,500
$123,500
5/18/2009
($6,000)
$280,900
$260,000
5/27/2009
($20,900)
$259,900
$245,000
6/1/2009
($14,900)
$239,000
$210,000
5/18/2009
($29,000)
$121,900
$105,000
5/7/2009
($16,900)
$689,900
$639,999
5/21/2009
($49,901)
$640,000
$515,000
5/8/2009
($125,000)
$552,900
$533,000
5/7/2009
($19,900)
$445,500
$426,125
5/20/2009
($19,375)
$215,000
$207,000
5/15/2009
($8,000)
$130,000
$130,000
5/27/2009
$0
$275,000
$260,000
5/21/2009
($15,000)
$212,000
$200,000
5/12/2009
($12,000)
$199,900
$175,000
5/20/2009
($24,900)
$184,900
$187,000
6/4/2009
$2,100
$543,900
$512,005
5/20/2009
($31,895)
$104,000
$104,000
5/6/2009
$0
$1,499,000
$1,274,150
5/18/2009
($224,850)
$979,900
$859,000
5/7/2009
($120,900)
$789,000
$700,500
5/29/2009
($88,500)
$709,900
$650,000
5/22/2009
($59,900)
$699,000
$659,000
5/14/2009
($40,000)
$649,900
$629,900
5/29/2009
($20,000)
$459,900
$459,900
5/21/2009
$0
$449,900
$449,900
5/18/2009
$0
$439,900
$390,000
5/12/2009
($49,900)
$389,900
$362,450
5/19/2009
($27,450)
$364,900
$355,000
5/19/2009
($9,900)
$319,000
$329,000
5/21/2009
$10,000
$274,900
$270,000
5/7/2009
($4,900)
$249,900
$218,000
5/20/2009
($31,900)
$213,500
$211,000
5/6/2009
($2,500)
$205,000
$205,000
5/14/2009
$0
$189,900
$152,250
5/20/2009
($37,650)
$189,900
$183,200
5/6/2009
($6,700)
$189,900
$180,000
5/18/2009
($9,900)
$184,900
$184,900
5/6/2009
$0
$179,900
$179,000
5/27/2009
($900)
$179,900
$179,900
6/3/2009
$0
$175,000
$173,000
6/3/2009
($2,000)
$169,900
$165,000
5/6/2009
($4,900)
$162,000
$148,000
5/6/2009
($14,000)
$159,900
$165,000
5/11/2009
$5,100
$159,650
$164,300
5/8/2009
$4,650
$154,900
$169,900
5/22/2009
$15,000
$153,000
$153,000
5/20/2009
$0
$150,000
$151,000
5/28/2009
$1,000
$145,900
$150,500
5/22/2009
$4,600
$139,900
$132,500
5/13/2009
($7,400)
$139,900
$145,000
5/18/2009
$5,100
$132,900
$132,900
5/14/2009
$0
$131,900
$130,900
6/3/2009
($1,000)
$127,591
$127,591
5/27/2009
$0
$122,000
$121,400
5/18/2009
($600)
$117,300
$105,000
5/11/2009
($12,300)
$115,000
$106,000
5/8/2009
($9,000)
$114,900
$116,600
5/7/2009
$1,700
$113,900
$117,500
5/26/2009
$3,600
$106,900
$106,900
5/20/2009
$0
$422,900
$407,500
5/15/2009
($15,400)
$399,900
$400,000
6/3/2009
$100
$389,000
$370,000
6/4/2009
($19,000)
$385,000
$370,000
5/8/2009
($15,000)
$324,900
$320,000
6/1/2009
($4,900)
$289,000
$192,700
5/29/2009
($96,300)
$287,500
$239,000
5/15/2009
($48,500)
$274,500
$229,750
5/18/2009
($44,750)
$245,000
$215,340
5/11/2009
($29,660)
$239,900
$230,000
5/11/2009
($9,900)
$213,900
$217,000
5/20/2009
$3,100
$199,900
$197,000
6/1/2009
($2,900)
$189,900
$192,000
5/29/2009
$2,100
$187,900
$187,900
5/6/2009
$0
$184,900
$173,000
5/29/2009
($11,900)
$184,500
$184,500
5/6/2009
$0
$179,900
$155,000
5/12/2009
($24,900)
$179,900
$145,000
6/4/2009
($34,900)
$177,000
$177,000
5/26/2009
$0
$161,500
$154,000
5/19/2009
($7,500)
$159,900
$165,795
5/6/2009
$5,895
$159,900
$151,000
5/29/2009
($8,900)
$156,800
$156,800
5/14/2009
$0
$155,000
$147,500
5/13/2009
($7,500)
$154,900
$160,500
5/8/2009
$5,600
$152,900
$153,000
5/12/2009
$100
$149,900
$149,900
5/6/2009
$0
$139,999
$130,000
6/3/2009
($9,999)
$129,900
$129,900
5/26/2009
$0
$123,500
$125,000
5/29/2009
$1,500
$123,200
$126,200
5/14/2009
$3,000
$119,900
$117,500
5/13/2009
($2,400)
$119,900
$124,500
5/13/2009
$4,600
$119,000
$118,000
5/7/2009
($1,000)
$114,900
$127,000
5/18/2009
$12,100
$114,500
$103,000
5/7/2009
($11,500)
$109,900
$109,900
5/20/2009
$0
$109,900
$105,000
5/13/2009
($4,900)
$102,900
$95,500
5/19/2009
($7,400)
$102,500
$105,000
5/19/2009
$2,500
$101,600
$92,400
5/19/2009
($9,200)
$300,000
$321,000
5/7/2009
$21,000
$261,300
$259,350
5/22/2009
($1,950)
$214,900
$206,000
6/3/2009
($8,900)
$204,900
$190,000
5/13/2009
($14,900)
$203,000
$197,500
6/3/2009
($5,500)
$193,900
$177,000
5/6/2009
($16,900)
$189,900
$200,000
5/15/2009
$10,100
$184,900
$175,000
5/15/2009
($9,900)
$174,900
$178,125
5/28/2009
$3,225
$160,000
$156,500
5/19/2009
($3,500)
$149,999
$153,000
5/6/2009
$3,001
$144,000
$136,800
5/29/2009
($7,200)
$140,087
$138,000
5/11/2009
($2,087)
$140,000
$140,000
5/11/2009
$0
$134,900
$140,900
5/12/2009
$6,000
$121,900
$137,000
5/13/2009
$15,100
$120,900
$124,500
5/14/2009
$3,600
$118,000
$121,000
5/18/2009
$3,000
$109,900
$95,000
5/14/2009
($14,900)
$109,300
$104,900
5/14/2009
($4,400)
$105,000
$105,000
5/7/2009
$0
$104,900
$98,925
5/11/2009
($5,975)
$209,900
$218,511
5/21/2009
$8,611
$159,900
$160,000
6/3/2009
$100
$149,200
$140,000
5/26/2009
($9,200)
$141,312
$115,500
5/7/2009
($25,812)
$134,900
$110,000
5/19/2009
($24,900)
$132,900
$115,700
5/29/2009
($17,200)
$130,500
$130,500
5/13/2009
$0
$123,900
$119,000
5/14/2009
($4,900)
$119,900
$119,000
5/11/2009
($900)
$119,900
$109,000
5/26/2009
($10,900)
$109,900
$112,000
5/8/2009
$2,100
$104,900
$119,900
5/29/2009
$15,000
$469,900
$467,285
6/3/2009
($2,615)
$449,900
$435,000
6/2/2009
($14,900)
$325,000
$275,000
5/26/2009
($50,000)
$299,900
$298,000
5/6/2009
($1,900)
$275,000
$270,000
5/20/2009
($5,000)
$239,900
$238,900
5/13/2009
($1,000)
$235,000
$226,250
5/14/2009
($8,750)
$224,900
$195,000
5/22/2009
($29,900)
$154,500
$150,000
5/11/2009
($4,500)
$139,900
$93,500
5/12/2009
($46,400)
$135,000
$130,000
5/14/2009
($5,000)
$119,900
$116,600
5/18/2009
($3,300)
$114,900
$112,000
5/14/2009
($2,900)
$109,900
$116,000
5/26/2009
$6,100
$109,600
$102,500
5/29/2009
($7,100)
$109,250
$105,000
5/29/2009
($4,250)
$106,900
$80,000
5/29/2009
($26,900)
$102,900
$102,000
5/15/2009
($900)
$535,900
$425,000
5/29/2009
($110,900)
$529,900
$497,500
5/18/2009
($32,400)
$521,500
$475,290
5/20/2009
($46,210)
$465,000
$420,000
5/7/2009
($45,000)
$449,000
$420,000
5/27/2009
($29,000)
$429,900
$419,000
5/7/2009
($10,900)
$427,900
$400,000
5/26/2009
($27,900)
$309,985
$309,985
5/27/2009
$0
$259,900
$260,000
5/11/2009
$100
$241,900
$241,900
6/2/2009
$0
$235,000
$240,000
5/12/2009
$5,000
$224,900
$224,000
5/28/2009
($900)
$217,400
$236,000
5/18/2009
$18,600
$193,900
$196,000
5/6/2009
$2,100
$179,900
$160,000
5/6/2009
($19,900)
$176,300
$183,000
5/20/2009
$6,700
$170,900
$170,900
5/13/2009
$0
$169,900
$152,500
5/20/2009
($17,400)
$140,500
$113,000
5/8/2009
($27,500)
$549,900
$460,000
5/12/2009
($89,900)
$210,000
$227,000
5/20/2009
$17,000
$209,900
$203,500
5/19/2009
($6,400)
$199,900
$182,000
5/6/2009
($17,900)
$198,000
$195,000
5/28/2009
($3,000)
$175,900
$175,000
5/8/2009
($900)
$151,900
$176,000
5/21/2009
$24,100
$145,000
$135,000
5/13/2009
($10,000)
$142,500
$131,000
6/2/2009
($11,500)
$139,900
$139,900
5/18/2009
$0
$122,900
$122,000
5/19/2009
($900)
$122,500
$122,500
5/8/2009
$0
$599,000
$525,000
5/20/2009
($74,000)
$599,000
$540,000
5/12/2009
($59,000)
$180,000
$183,000
6/3/2009
$3,000
$166,500
$155,000
5/14/2009
($11,500)
$114,900
$100,000
5/8/2009
($14,900)
$509,900
$661,000
5/20/2009
$151,100
$338,900
$330,000
5/19/2009
($8,900)
$323,900
$323,900
5/19/2009
$0
$308,900
$257,250
5/8/2009
($51,650)
$185,000
$171,500
6/3/2009
($13,500)
$175,000
$175,000
5/8/2009
$0
$144,900
$142,500
5/22/2009
($2,400)
$142,900
$140,100
5/18/2009
($2,800)
$127,900
$120,500
5/18/2009
($7,400)
$122,000
$122,000
5/11/2009
$0
$499,900
$405,000
5/12/2009
($94,900)
$445,000
$417,000
5/18/2009
($28,000)
$498,000
$465,000
5/15/2009
($33,000)
$259,900
$210,000
5/22/2009
($49,900)
$249,900
$252,400
5/28/2009
$2,500
$229,900
$227,000
5/8/2009
($2,900)
$209,900
$165,000
5/12/2009
($44,900)
$205,900
$230,000
5/13/2009
$24,100
$169,900
$164,900
5/27/2009
($5,000)
$169,900
$155,000
5/28/2009
($14,900)
$169,900
$155,000
6/4/2009
($14,900)
$169,100
$169,000
5/13/2009
($100)
$162,900
$157,000
5/29/2009
($5,900)
$159,900
$127,500
5/11/2009
($32,400)
$157,900
$154,000
5/6/2009
($3,900)
$134,900
$132,900
5/12/2009
($2,000)
$129,900
$122,000
6/4/2009
($7,900)
$119,900
$115,000
5/15/2009
($4,900)
$117,100
$118,000
5/20/2009
$900
$104,900
$97,000
5/26/2009
($7,900)
$1,500,000
$1,102,000
5/12/2009
($398,000)
$1,179,900
$1,179,900
5/29/2009
$0
$436,900
$420,000
5/29/2009
($16,900)
$399,750
$372,900
5/8/2009
($26,850)
$337,900
$337,000
5/21/2009
($900)
$290,000
$275,000
5/18/2009
($15,000)
$276,900
$265,000
6/4/2009
($11,900)
$200,000
$200,000
6/3/2009
$0
$195,000
$195,000
5/22/2009
$0
$190,000
$190,000
5/19/2009
$0
$175,000
$182,000
5/15/2009
$7,000
$153,900
$152,900
5/15/2009
($1,000)
$144,900
$132,500
5/7/2009
($12,400)
$139,555
$142,050
5/26/2009
$2,495
$128,800
$130,000
5/21/2009
$1,200
$110,000
$92,000
5/14/2009
($18,000)
$104,100
$114,405
6/3/2009
$10,305
$620,900
$600,000
6/3/2009
($20,900)
$190,510
$179,000
5/6/2009
($11,510)
$268,900
$269,900
5/27/2009
$1,000
$1,295,000
$1,060,000
5/14/2009
($235,000)
$999,900
$975,000
5/18/2009
($24,900)
$280,000
$295,000
5/29/2009
$15,000
$799,000
$665,000
5/27/2009
($134,000)
$777,777
$740,000
6/2/2009
($37,777)
$675,000
$275,000
5/19/2009
($400,000)
$640,000
$275,000
5/19/2009
($365,000)
$605,900
$590,000
5/12/2009
($15,900)
$536,635
$575,000
5/26/2009
$38,365
$509,900
$534,677
5/21/2009
$24,777
$499,000
$137,800
5/19/2009
($361,200)
$424,900
$425,000
6/3/2009
$100
$399,900
$390,000
6/3/2009
($9,900)
$364,900
$340,000
5/28/2009
($24,900)
$267,500
$265,000
5/19/2009
($2,500)
$204,000
$190,000
5/21/2009
($14,000)
$185,000
$185,000
5/6/2009
$0
$178,500
$175,000
5/13/2009
($3,500)
$134,900
$142,750
5/15/2009
$7,850
$129,000
$122,000
5/6/2009
($7,000)
$119,900
$113,000
5/21/2009
($6,900)
$600,000
$470,000
5/13/2009
($130,000)
$550,000
$200,000
6/3/2009
($350,000)
$410,000
$355,000
5/20/2009
($55,000)
$229,000
$205,000
5/7/2009
($24,000)
$223,900
$223,900
5/13/2009
$0
$199,900
$188,300
5/28/2009
($11,600)
$199,000
$199,000
6/2/2009
$0
$194,900
$186,000
5/7/2009
($8,900)
$189,900
$182,000
5/20/2009
($7,900)
$185,000
$174,900
5/6/2009
($10,100)
$184,900
$170,000
6/2/2009
($14,900)
$599,900
$532,483
5/13/2009
($67,417)
$350,000
$350,000
5/13/2009
$0
$180,000
$176,200
5/6/2009
($3,800)
$165,000
$158,000
5/26/2009
($7,000)
$154,900
$145,000
5/21/2009
($9,900)
$150,000
$150,000
5/8/2009
$0
$149,900
$147,000
6/4/2009
($2,900)
$148,900
$140,275
5/14/2009
($8,625)
$425,000
$372,750
5/28/2009
($52,250)
$364,900
$320,500
5/14/2009
($44,400)
$332,900
$332,900
5/20/2009
$0
$216,900
$207,000
5/15/2009
($9,900)
$141,900
$139,900
5/12/2009
($2,000)
$135,500
$105,000
5/13/2009
($30,500)
$129,000
$115,000
5/29/2009
($14,000)
$128,900
$120,000
5/13/2009
($8,900)
$119,900
$105,700
6/4/2009
($14,200)
ave
ave
sales/list
# at or above list
$279,142
$258,145
92.48%
106
Tim Maitski has been a full time real estate agent in the Atlanta area since 1999.
If you are looking for Atlanta real estate, a good place to start is HomeAtlanta.com
Tim has built this site to provide a lot of information for buyers and sellers.
Market stats for sales in 37 market areas going back 10 years
Property tax calculator for over 30 cities and counties
Helpful, informative videos explaining many questions about real estate
5 Comments
on About a Third of Atlanta Foreclosures Selling at or Above List Price
JUN
04
2009
We are seeing much of the same in our market area as well. Buyers are being beat out of the house they were still trying to 'low ball' because we are in a 'buyer's market'. Not so with REO properties.
Sometimes in a hot market, you just have to tell the buyer to write up the contract, fax it over to the agent -- and then show the property! (Provided you know what the purchaser is looking for, and have already previewed the house.)
Great report here! It's hard for a lot of buyers to understand this, with all they've heard of now is the time they should "steal" a house! Do you mind me asking how you imported those numbers in that list format into your blog post? You seem like a good guy, and I enjoyed watching your profile bio, in fact, you inspired me to make one myself. I would be happy to refer you and your mother-in-law clients for Forsyth County when that opportunity comes up. Happy Selling!
John, I kind of forgot what I did so I tried it again.
I have a "hot sheet" search set up in the FMLS. So when I get the results, I just copy everything to a spreadsheet, I use Open Office but I'm sure Excel works, and I paste it into a spread sheet. Then I just eliminate what I don't want. Then I just copy and paste it into the blog. Nothing fancy. just copy and paste.
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5 Comments on About a Third of Atlanta Foreclosures Selling at or Above List Price
We are seeing much of the same in our market area as well. Buyers are being beat out of the house they were still trying to 'low ball' because we are in a 'buyer's market'. Not so with REO properties.
Sometimes in a hot market, you just have to tell the buyer to write up the contract, fax it over to the agent -- and then show the property! (Provided you know what the purchaser is looking for, and have already previewed the house.)
Hey Tim,
Great report here! It's hard for a lot of buyers to understand this, with all they've heard of now is the time they should "steal" a house! Do you mind me asking how you imported those numbers in that list format into your blog post? You seem like a good guy, and I enjoyed watching your profile bio, in fact, you inspired me to make one myself. I would be happy to refer you and your mother-in-law clients for Forsyth County when that opportunity comes up. Happy Selling!
Looks like we both work Cobb County, but please keep me in mind for Cherokee County, and Kennesaw/Acworth if you don't go there as much!
John, I kind of forgot what I did so I tried it again.
I have a "hot sheet" search set up in the FMLS. So when I get the results, I just copy everything to a spreadsheet, I use Open Office but I'm sure Excel works, and I paste it into a spread sheet. Then I just eliminate what I don't want. Then I just copy and paste it into the blog. Nothing fancy. just copy and paste.