It's Heating Up
Posted by Ben Hirsh on Thursday, February 24th, 2011 at 2:45pm.Atlanta has been a balmy 68 degrees every day this week. This is perfect weather for February, but the temperature outside is not the only thing heating up.
Competition for "deals" all over town has intensified in just the last few weeks. Yes, there are still many over-priced properties sitting on the market with no interest, but buyers are flocking to homes and condos for sale in the Atlanta area that are either priced aggressively, show beautifully, or on rare occassions...both!
Here are a few examples:
- I showed an Intown Atlanta Loft to one of my buyers nearly a week ago...as any careful buyer would do he asked many good questions. I even obtained the HOA budget and reviewed it with him. All along I stressed that speed was important that we act quickly as this deal would not last long (this is very hard to do and still sound honest and genuine, but I do my best when I feel that it is important). Yesterday afternoon he was ready to pull the trigger, we wrote the offer and submitted it by late afternoon. The seller responded this morning that we were hours too late...they had already struck a deal.
- Last week I found one of my clients a killer deal on a home in North Buckhead. It had been sitting on the market for 4 months, but some recent price drops had made the home a very attractive deal. We made an offer just the next day, within hours a 2nd offer had come in and we were thrown into a multiple offer situation. (we are still fighting this one out and just might get it!)
- Yesterday I was showing another client a condo for sale in Buckhead. It was the 2nd time we had looked at it in 10 days and I told him that if he liked it we should really make a move on it quickly since it was priced 20% below the average comparable sales in the Building. "Well why hasn't anyone else made an offer yet?" He asked. I admitted that I had no good reason, but he should count it a blessing and make his move. We were putting together his offer just an hour ago when we found out that "Several" offers have come in today on the property! That is what has inspired this small rant.
The message is clear, every buyer in the market today is looking for that special "DEAL". When it comes along, don't ask yourself why no one else is trying to buy it, because there are most likely five other buyers asking the same question! As I tell my clients so often, timing is often more important that what the amount of your offer is.
When the market heats up and competition gets fierce, you had better have an experienced Atlanta Realtor on your side of the deal. I have been a top producing broker for seven years now and I would love to put my experience to work for you.
Blog Tags
Print
ShareBe the first to comment on this blog entry!