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Atlanta Realty Reality | Atlanta Real Estate Is Different From Real Estate TV Shows

By
Real Estate Agent with Long & Foster 0225078705
The hardest words to sell an enthusiastic Atlanta home seller is, "I really dislike being the bearer of bad news, but you are not going to sell your home in it's current condition!" It could be a real downer to the homeowner that has worked feverishly on a variety of projects thinking they are going to double their money flipping a home in this market. Mortgages are determined by the historic value of recent sales, with a percentage of price coming from aesthetics.  Most appraisers in this market will not render a $375K appraisal in a $259K neighborhood.  They certainly cannot add 100K for carpet, and paint. It will not happen.  You have simply overpriced your home with added extras that will not return the cash spent when you sell it.   You may have even blinded yourself to the truth thinking it was money and time well spent by believing that...after all they do it on TV all the time.   It wasn't!

Since we've been in the real estate business for many years it is really interesting to talk to a lot of Atlanta homeowners.   We get to see perspectives.  This is a market that has been driven buy luck and rates and ceap money for manyy years.  Most agents in teh business have never seen a real estate estate market let alone a downturn. Many home owners and would be investors have deluded themselves from bad advice and  from watching too much TV.  They feel they can buy low and sell high by making a few cosmetic and cheap improvements to the property.  Some believe erroneously that a pool will return its value, it won't!  Especially with he drought we are having in Atlanta.  It reminds me of the stunt men on TV that would warn children watching the show not to try this at home, that they were trained professionals!   The consequences could be dire if you tried this by yourself!

It isn't so far fetched when you are visiting a potential listing in the Atlanta.  The wrong choices of personalized colors, carpeting, floor coverings, paint trim, tile selection, and appliances could be a disaster in the making for sales, or not making a sale.  Aqua blue walls, and the retro look on a budget may send a different picture to the potential buyers.  In the Atlanta real estate market where we are blighted with a total excess of inventory you are guaranteed to get less buyers looking at your home.  Thew closest a potential buyer may get to actually visiting your home may be from the interior home photos they view on the Internet.  Since over 85% of all home purchases start on the Internet with todays buyers, than the converse is true also.  There may be a reason you are getting no traffic in your home.  Potential buyers may be turned off by the colors of your dining room walls, deco wall paper or personalized projects you thought would sell your home at a hefty project!  I do not want to be the person to tell you, but your best friend that advised you on home decorating tips... they need to get a day job.

Jim Crawford

 

 

 

 

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Posted by

James Crawford Broker Associate

Long & Foster Fredericksburg Virginia

678-595-5286 Direct

 

Fredericksburg VA Real Estate Agents, Spotsylvania County Homes for Sale, Spotsylvania County VA Homes, Stafford County VA Homes, and City of Fredericksburg VA – Luxury Homes, Lots, Land, and New Home Construction. Buying or Selling Call Me!  

 

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Jesse Clifton
Jesse Clifton & Associates - Fairbanks, AK
Hi, Jim: Many sellers are learning this lesson the hard way... and many more are going to learn it in the coming months.  In this market, homes need to be in top condition to attract buyers. If it's not, there are hundreds around the corner for them to pick from.
Jan 04, 2008 03:56 PM
Sarah Nopp
South Sound, WA

Ohhh- that happens in your market too huh??

Want to hear about the purple carpet and purple walls I saw yesterday?

Jan 04, 2008 04:12 PM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate
Jim - I see this a lot myself. It seems that people think if they invest 20k they will get 20k or more back. Some of of the improvements they make only bring a 50% return. Some help salability but not the bottom line.
Jan 04, 2008 10:55 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Folks need to hear the truth.  What adds value is square feet.  Anything else will simply help to sell.  I honestly believe that too many listing agents tell sellers to paint when most buyers don't care and will repaint when they move in anyway.  Dirty stained carpet?  That's something else. 

I'm more interested in when the furnace filter was serviced. 

I've shown so many homes over the years, I have comments from hundreds and hundreds of home buyers.  They do not care about paint.  Wallpaper they do because that represents real work to remove. 

I love it when I see a listing that says "remodeled kitchen" and you see that all they did was replace the old obsolete appliances. 

Too many home owners just use their homes, they don't maintain them very well.  Most pay less attention to "state of the art" for their home than they do their TV. 

There are far too many neglected homes out there.  It's really sad. 

A home that has been lovingly maintained and is clean, bright and cheerful will sell for top dollar. 

Jan 04, 2008 11:04 PM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA
Fairbanks, Alaska Realtors Jesse & Kathy Clifton  That is literally the case in Atlanta.  Sellers are very naive, and misinformed.
Jan 05, 2008 12:40 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA
Sarah Nopp, REALTOR(R), CRS. RE/MAX Four Seasons, Olympia WA  LOL!  I listed a purple home once!  Did anyone say obsessive compulsive?  Maybe all real estate in this sense is ocal!  LOL!
Jan 05, 2008 12:42 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Bill Gassett Metrowest Massachusetts Real Estate  Some times 5 grand in = no sale!  I had a good friend of mine years ago that a decorating friend from hell had advised her the latest thing was to glue peper bags tot he wall and paint over them!  It cost a fortune, and looked like awful.   I would not begin to tell you how it could be removed!

Jan 05, 2008 12:45 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA
Homefinders, Real Estate in MD & VA, Lenn Harley, Broker, New & Resale Homes  I fully agree!  "Too many home owners just use their homes, they don't maintain them very well....A home that has been lovingly maintained and is clean, bright and cheerful will sell for top dollar."
Jan 05, 2008 12:51 AM
Lizette Fitzpatrick
Lizette Realty - Richmond KY - Lexington, KY
Lizette Realty, Lexington KY MLS - Kentucky Homes
I think I have seen some crazy color combinations too! I'm always mindful of choices, upgrades and repairs I make even in my own home. You never know when you might be compelled to sell. This way it is always in saleable condition.
Jan 05, 2008 01:24 AM
Gary Smith
Agent Marketing Today - Commerce Township, MI

Jim, a very timely article. I wish I could take photo's of some of the homes I've shown. Gaudy color schemes, piles of knick-knacks on shelves in halways and piled on stairs, dungeon in the basement (at least the agent warned us about that one), and neglected homes. One lakefront home (owned by a builder) had an awning partially collapsed blocking half the view of the lake.

 

Jan 05, 2008 03:05 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Lizette Fitzpatrick,Central Kentucky Realtor(R)   I agree.  I tell a lot of homeowners that I have no objection to the colors currently in the home.  However, I will tell them which colors I believe are not good marketing colors.

Jan 05, 2008 06:48 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA
Gary Smith, Realtor®   LOL!  I agree some of what I've seen is vividly etched into my mind.  I cannot even erase them.  Neither can buyer that say "Next!"  More often than not, even if a home has been neutralized, they will not return when they have so much else to choose from!
Jan 05, 2008 06:50 AM