Sellers Market??? What should I pay for this house? Buyers Education

By
Real Estate Agent with GaRealtyGroup | 2ShortSaleGuys GA - 315107

We are fortunate at GaRealtyGroup | 2ShortSaleGuys in that we represent a lot of buyers.  We average approximately 40 listings at a time, we have a dedicated buyer’s agent and with the amount of signs we have out our phones are always ringing.  On of the biggest problems that our buyer’s agent, Terri Tarver, has is that when shes finds “that house”, the buyers always want to under bid to make sure they are getting a “great deal”.  Now, here’s the truth and facts of pricing.


 

In North Georgia, our market is a SELLERS MARKET.  That means that there are more buyers than there are homes listed on the market for sale.  So typically, if you have a home that is in great condition, it will not be on the market very long.  With that said, that is certainly time to listen and take advantage of your Realtor’s® knowledge and experience.  When Terri comes across a home that a buyer wishes to make an offer on, she will provide the buyer with comparables.  This is a list of homes that are like the subject home that have SOLD in the last 6 months.  These are typically pulled by subdivision, if there are no comparables in the subdivision, then she will pull the comparables from the elementary school district to ensure they homes are in close proximity to the subject property.  

 

By pulling comparables, this gives the buyer a true value of the home, you will be able to tell if the home is priced high, low or just right.  The next thing I like to let our buyer’s know are the stats of the county.  In Barrow County, Georgia, the listing to sales price percentage is 98.6%.  What that means is that the seller on average gets 98.6 percent of their list price.  So we like to let our buyers know, if the home is priced correctly and we get to 98.6 percent than we are doing average, if we get it better than that than we did great, but sometimes, we have to go higher in order to get the home if thats “the one”.  It all depends on how well the listing agent priced the property.  By giving them those percentages, it gives them a little more confidence in bidding on the property.  

 

NOTE TO BUYERS:  We are professionals, we do this all day every day.  We don’t work another job during the day and then play Realtor ® at night.  This is how we provide for our families and pay our bills.  In saying that, we know that sometimes we tell you things that you don’t want to hear, like “you offer is too low, you are asking for too much”.  We say this to you because we want to to be honest, up front and provide you no false expectations.  When you are interviewing agents, remember to protect yourself by finding someone how has your best interest at heart, not just trying to sale you a home to make a few extra bucks to supplement their income.  We say you wouldn’t go to a dentist that works as a florist during the day, you want the dentist that is committed and does dentistry full time.  Same thing should apply with a Realtor ®, this is your single biggest investment you will make in your life in most cases.  Make sure you are protecting yourself with your home purchases.

 

Are you in the market to buy a home in North, Georgia?  Check out our website by clicking HERE.  We would love to discuss with you, your buying needs.  We not only have some amazing deals with our listings, we can find you the home that fits your needs and work hard to get you that price you want to pay.

 

If you are thinking that now is the time to sell, you couldn’t be more right!!!  We have over 150 buyers a month that log into our website looking for homes.  We would love to provide you with a FREE home consultation to let you know how we can help you sale your home.  

 

Click HERE for more information about selling your home.

 

Sometimes, you need to sell but know that you owe more than your home is worth.  You may be behind on your mortgage payments and not know what to do.  If thats the case, we specialize in helping helping homeowners who are upside down on their mortgage as well as behind on their mortgage.  To get more information regarding that, CLICK HERE

 

Posted by

 

Nakia Brooks, REALTOR ®

 

Nakia@GaRealtyGroup.com

GA Realty Group | 2ShortSaleGuys
Keller Williams Realty – Lanier Partners

 

To view many great homes in North Georgia available today, CLICK HERE to start your search NOW!!!

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Topic:
Home Buying
Location:
Georgia Barrow County Braselton
Tags:
homes for sale
sellers market
buyer education
ga
braselton
nakia brooks
bill bythewood
2shortsaleguys
garealtygroup

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