Real estate blog entries tagged with value by Ron Barnes, "Most agents claim they're #1 - I THINK YOU'RE #1! (Associate Broker at Berkshire Hathaway Home Services Georgia Properties)

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value: Driving Out of the Darkness - 05/07/16 11:29 PM

It’s been a rough ride for a long time in the real estate market, but as we peek in the rear view mirror, we can see that almost all parts of the country have completed the recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2016 will be remembered as the year we drove out of the real estate darkness.
The only hiccup in the system is lack of inventory. It’s everywhere. While buyer demand keeps rising, there is not enough supply to keep up.
Doug Duncan, Chief Economist at Fannie … (2 comments)

value: “I Saw It on Zillow” - 07/13/15 09:15 PM

I remember when people used to come in the office and ask the question, “Can you help us buy a house”. Wow. That even sounds like a long time ago as I write it! Of course, personal computers had been around for forty years, but the internet was just starting to gain a lot of footing, and real estate search engines for consumers did not really exist yet. The listing organizations were just starting to perfect platforms that replaced “the book”, when real estate agents were pretty much the gateway to buying a home unless you bought it unlisted directly from … (3 comments)

value: "SPLOST" Tax - 03/10/14 11:40 PM

In our county, we have had an extra one percent sales tax for several year. It's called a Special Purpose Local Option Sales Tax, or "SPLOST" for short. It cannot be used in the general fund, and has to be specifically earmarked for certain projects.
We have used it to complete a community recreation center, courthouse renovations, and many other projects over the years. I live in a gated community, where we maintain our own roadways, so aside from the occasional need for police, fire, or EMS assistance, we get practically nothing in return for property taxes. About over 40% of … (0 comments)

value: Crazy Market in Pickens - 02/21/14 09:20 PM

This is a crazy market we have in Pickens County. Last week we put a home under contract at full price plus closing costs. Also taking place last week was a bank auction where my partner bought a nice three acre lot, very close to where I live, for $1250! Lots in the area typically go for $30-50,000! Caught me snoozing or I would have bought it myself.
I don't think there is any doubt that residential real estate is getting better by the minute here, although we are still lagging metro Atlanta as usual. Land and lots are finally starting … (0 comments)

value: Fall Selling Season Is Here! - 09/10/13 09:55 PM

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value: There's Only One Market Value! - 03/25/13 10:36 PM

As a listing agent, it's starting to annoy me that some people insist on yammering at me, after I've done tons of market research, that a property isn't worth the asking price. I don't make this stuff up folks!
Market value is not the total price of purchasing and renovating a property to your specifications of "move-in ready". Hopefully, when the home goes on the market, it's ready to be sold and lived in, but whether it needs repairs or not, if someone wants to buy it, that's their decision.
Furthermore, don't accuse me of false advertising when I list a 25 year old … (2 comments)

value: "Back to the Future" - 05/16/12 10:24 PM

It's 2001. The Braves are in first place and the Phillies in last. There are 393 listings in the county. There are 117 members in the Board of Realtors. It's snowing because I have white flecks in my beard. George W. Bush is in ... Crawford, Texas?
Whoa, I've been asleep for a very long time!
… (1 comments)

value: Playing Locksmith - 03/17/12 12:01 AM

Sometimes I feel like buyers think our job is to unlock the house for them. They get in their mind what they want to do, ignoring the market, and pay no attention to someone who has been working this market for over ten years.
I am currently working with a couple who is totally wasting my time, and I'm about ready to fire them. They have the attention span of a magpie, and their favorite pastiime is wasting gas and time. In the meantime, my business is getting red hot while they keep dawdling around. We found the perfect home fresh … (2 comments)

value: Don't Be Cheap Now - Get an Appraisal! - 12/01/11 11:45 PM

One of the most important jobs for your real estate agent is to determine the value of your home by developing a Comparable Market Analysis, which will be used in pricing the home for the right amount.
If your property isn’t attracting serious shoppers, your agent may recommend that you invest in an appraiser to get a second pricing opinion, as the appraiser will come in with an independent, unbiased opinion to help ensure your price is correct for the market.
“An appraisal is important in today’s market especially, because it’s an objective and unbiased source of information,” … (3 comments)

value: Don't Take Selling Your Home Personally - 10/17/11 01:24 AM

Home sellers face a new reality as they look to move up, down, in or out of their American dream in today’s market. Consumers, particularly those who purchased their homes within the last five years, often find their options limited by a lack of equity. Those who can sell are sometimes numbed by deflated home prices and find it difficult to justify yesterday’s valuations with today’s reality.
Many home sellers have dug in on price hoping to lose no additional ground. Others seem to have taken this market personally, letting emotions override analysis when setting price. Buyer sentiment has shifted … (3 comments)

value: Final Inspection Critical - 10/10/11 02:12 AM

In the sales contract, the sellers of your new home agreed to leave the custom blinds, refrigerator, built-in entertainment system and those fine cabinets and workbench in the garage. But when you show up on moving day, all of those amenities are long gone. Moreover, the lock on the back door is broken; there is a huge gouge in the drywall near the front bathroom. Although these circumstances are extreme, they could happen, which is why it is important to have a final inspection of the home you are purchasing before the closing. A pre-closing inspection gives you, one last opportunity … (1 comments)

value: Why Can't You Sell Your Home? - 08/19/11 01:53 AM

value: Recap of 2010 Real Estate - 12/16/10 02:54 AM

People always ask me how real estate is "doing". That depends first on whether you're buying or selling, and second on what part of the country you examine. For 2010, it was "doing something". Depending on who you ask, that ranges from great to awful. Personally, I have no complaints.
Overall, prices are starting to stabilize because sellers are coming to terms with what values they have to accept in this market if they want to sell. Buyers are starting to realize they don't have to buy a foreclosure to get a great deal. The continuing problem of excess inventories of … (1 comments)

value: Who Is Buying Real Estate? - 08/30/10 08:01 AM

Sometimes it's hard for sellers to believe there are people actually buying homes. The National Association of Realtors performs a consumer survey every year. Here is some information from 2009 transactions that might help you tailor a marketing approach for your property.
There was the largest percentage of first time homebuyers (47%) since 1981. The typical home purchased by newbies was $150,000, which was down from $165,000 in 2008. Repeat buyers averaged 48 years old, earn $88,100 and purchased a home costing $224,500. Sellers averaged 46 years of age.
Buyers searched a median of 12 weeks and viewed 12 homes. Of … (0 comments)

value: Didn’t Your Mother Teach You Anything? - 06/30/10 01:16 AM

Two phrases come to mind when describing the state of the real estate market lately.
The first I attribute to Dan Forsman, President of Prudential Georgia Realty, which goes like this: "As the pieces of the pie get smaller, the table manners get worse". I cannot recall so many people, both real estate professionals and their clients, having such a bad attitude toward other people. Just because it's a "buyer's market" does not give anyone the right to forget what their mother taught them about common courtesy.
Agents are going around knocking on doors without appointments, setting off security alarms, calling … (4 comments)

value: Lies, Damn Lies, and Statistics - 12/11/09 11:40 PM

I was going through some papers last week (okay, I was cleaning up my junk pile) when I came across an article written by John Adams in the AJC. It was called "Inside Advice" and titled "2008 prognosticators show existing home sales going up". Mr. Adams is a well respected real estate practitioner and consultant. However, I think it is fair to say his prognostications on January 6, 2008 were a tad off, since we suffered the worst real estate meltdown in history that year. The logic surrounding the "facts" was, well, logical. It was just wrong in the end. As … (3 comments)

value: “OK … Now What’s Your Excuse?” - 11/08/09 10:11 PM

Our job as professional Realtors® these days is to listen to all the excuses people use to put off buying a new home. "The market will keep going down. The interest rates are staying low. The windows are a little dirty. There is no reason to hurry in a buyer's market. I'm looking for a $350,000 home for about $140,000." I'm sure my fellow agents can come up with a few more. It would be hilarious if it were not so tragic, watching people wring their hands in "analysis paralysis" while the deal of their lives slips away before their eyes.
… (5 comments)

value: Pickens Real Estate Market … Today - 05/13/09 01:04 AM

Recent national headlines boasted a gain in the sale of existing homes. I'll take any good news they report. This is important because it means we are taking steps to reduce our inventory. However, in Pickens the story is slightly different.
We'll begin by examining pending contracts for the last month. There were 24 sales, of which 11 were foreclosures or short sales. We need to deal with foreclosures (consider a short sale if you are having mortgage problems), and getting them off the market is critical. However, when we have almost half of our sales from distress situations, it tends … (0 comments)

value: "Bailout" or Windfall? - 09/25/08 02:31 AM

There was an article in the Washington Post yesterday about how "Main Street" could actually profit from the "bailout". The proponent of the theory and author of the piece is Bill Gross, who is the founder of the investment management firm PIMCO.
While the media insists on calling this bill a Wall Street bailout, insinuating that taxpayers will get nothing in return for $700 billion, the facts are that the people being bailed out likely have never seen Wall Street. Gross uses the figure of 65 cents on the dollar to value mortgages that will be turned over, so they do … (2 comments)

value: Are You Serious About Selling? - 09/19/08 08:51 AM

By Ron Barnes
Associate Broker - Prudential Georgia Realty
President - Pickens County Board of Realtors®
The real estate market is in the dumpster, but you want to sell your home.
There are three ways I'm aware of to sell real estate. You can market the property with a full service real estate broker. You can choose one of the "discount brokers" that offer limited assistance for a smaller fee. They mostly provide a sign, a limited internet presence, and some marketing material, but the seller is responsible for all showing and negotiation, which is where full service agents provide a … (1 comments)

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