Hi everyone. I hope the week has treated you all well. The fly bug has hit my house. My wife has been in the bed for 2 days. I just hope and pray it won’t spread.
I wanted to pass along a question that I’ve been getting from buyers lately.
Q: I have been hearing that there are several homes that have been selling for 50 cents on the dollar. If I find a house that I like, what should I offer?
A: Well, I can tell you that I personally have not seen a house sell for 50 cents on the dollar in the past four years. That doesn’t mean that it hasn’t happened, but I haven’t seen it. Homes are still holding their value in the North Georgia area. There are several reason for that. Our economy is still good, unemployment is still down and we live in a desirable area. We are a, “Move to” destination. Homes are on the market a little longer than in the recent past, but one reason for that is, there are a lot of homes on the market now, but that is leveling off. Just this past Monday I was traveling down I-85 in Atlanta and the big Metro Brokers sign that shows the number of homes on the market in Georgia is now at 94,000 as opposed to 110,000 in December. A few months ago when we were in a, “Seller’s Market”, it was around 60,000. With a large inventory of homes, buyers are looking at more homes before making their decision, and wisely so. Because a home is on the market for several months does not mean the owners are desperate to sell at any price offered them. The one thing the sellers have going for them is…they have a house; they may not have to move. These days are different though, and I have seen and made some ridicules offers before getting a deal together. Since November, I have only been involved in one really, really low ball deal. We are seeing lower and lower offers, but deals are still coming together that’s fair for everyone. It just means we agents are making more and more counter offers before getting a binding agreement. Sure there are some, “Tire Kickers” out there just trying to get that special deal and there’s nothing wrong with that. My advice to buyers is, decide how much you want the house you’re making an offer on and make a fair offer. You can ask for anything in real estate and sellers are willing to make some concessions such as paying part or all of the closing costs on behalf of the buyer, or leaving the pool table and refrigerator. Its okay to make a lower offer, but if this is the house you truly want, be careful not to insult the owners.
Thanks for your time! Please email me and let me know what you’d like for me to write about or questions to answer.
Have a great week! God Bless.
Kim Craft is a professional REALTOR in the Gainesville/Hall, White, Habersham, Lumpkin, Dawson, Jackson and Gwinnett county areas.
He can be reached at:
Cell: 770-654-6656
Email: kim.craft@coldwellbanker.com
Website: www.kimcraft.net
Kim's Listing of the week 2888 Florence Drive Gainesville, Ga 2 bedroom 1.5 bath condo in the city $97,000
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