Is the Atlanta Real Estate Market cooling?

The short answer is: Yes – and it’s a GREAT thing!

Let’s break down why, and review what it means for a market to be HOT, COLD or NEUTRAL.

HOT MARKET  aka “Seller’s Market”

This is the best financial market for a home owner to SELL, because there are more buyers than there are homes available to purchase.

What does this mean? Buyers are often willing to pay MORE than list price and homes sell quickly. In an EXTREMELY HOT market, sellers may be able to insist buyers waive inspections/appraisals (Note: not a good idea for the buyer). Although unless written into the Purchase & Sales Agreement, federal law states sellers must give a buyer 10 days to inspect for lead paint.

Signs of a HOT/Seller’s Market

  • Low inventory as compared to previous months/years
  • Fewer than 6 months of inventory on the market
  • Comparable sales prices are lower than active listing prices
  • More buyers are purchasing, resulting in higher number of closed sales
  • Median sales prices are increasing
  • Real estate advertising is low
  • For Sale signs are only up for a few days before a pending or sold sign is attached

COLD MARKET aka “Buyer’s Market”

This is the best financial market for a buyer to BUY, because there are more homes than there are buyers with the ability to purchase.

What does this mean? Buyers have more homes to choose from, increasing the odds that they will find the “perfect” home. Serious sellers are often willing to negotiate, so buyers can probably purchase a home for below list price, and sellers might be willing to include “buyer incentives” like paying for some or all closing costs. This is a more relaxed and easy experience for buyers.

Signs of a COLD/Buyer’s Market

  • High inventory as compared to previous months/years
  • More than 6 months of inventory on the market
  • Comparable sales prices are higher than active listing prices
  • Fewer buyers are purchasing, resulting in lower number of closed sales
  • Median sales prices are declining
  • Real estate advertising is high
  • For Sale signs are staying up longer

NEUTRAL MARKET

This is when the market is considered balanced. Interest rates are affordable and the number of buyers and sellers are evenly matched. There aren’t as many extreme changes in home value. Neutral markets have become less common in recent years, but were common prior to the real estate crashes.

Signs of a Neutral Market

  • Steady inventory as compared to previous steady months/years
  • 3-6 months of inventory on the market
  • Comparable sale prices are close to active listing prices
  • Sales numbers have stabilized
  • Median sales prices are level
  • Real estate advertising is consistent
  • For Sale signs are replaced with pending or sold signs within 30-45 days

Atlanta has recently been a HOT market. Competition for the very low inventory on the market was fierce, with bidding wars artificially driving home prices up. Sellers have been listing their homes at inflated prices, in hopes of desperate buyers being willing to overpay so as not to lose out on purchasing the home. Meaning home/contract prices were often exceeding the actual value of the home, resulting in discrepancies between appraised value and contract price. While a hot market is typically considered a good thing, they can also be the most brutal and frustrating time to buy and/or sell a home.

The cooling we are seeing is really the market evening itself back out. Which means price cuts. Most price cuts are being found in the most expensive price points and in markets where pricing has outrun home values *ahem, Atlanta*.

This DOESN’T mean home values have depreciated or will soon depreciate. In fact, home values will continue to appreciate over the next 12 months (at double their historic rate). It DOES mean seller’s should be more conservative when pricing their home, especially in higher price points.

To Summarize

Homes are not depreciating. If you want to sell your home quickly and with less headache,  pricing it correctly from the beginning (and using a good REALTOR) is the best strategy.

**If you live in the Greater Atlanta area and are interested in learning the current value of your home, contact me! I am happy to provide you with a price analysis.**

Sources: The Balance, Keeping Matters CurrentZillow

Homebuyer’s Workshop Spring 2018

ATLANTA FRIENDS: You don’t want to miss this!! 

WEDNESDAY, JUNE 27TH AT 5:30PM

You’re invited to a special homebuyer’s workshop event, where you’ll learn about mortgage rates, the real estate market and the process of buying a home.

E-mail allisonjackson@atlantafinehomes.com or click the image below to RSVP to this amazing event!


BEST Dog-friendly Patios in Atlanta

Pictured: The sweetest puppy in the world, Bourbon!
  1. Perk-N-Pooch
  2. Kaleidoscope Bistro & Pub
  3. Floataway Cafe
  4. JCT Kitchen & Bar
  5. Einstein’s
  6. Joe’s on Juniper
  7. Moe’s and Joe’s Tavern
  8. Leon’s Full Service
  9. The Local
  10. Hampton & Hudson
  11. Ladybird Grove & Mess Hall **personal favorite** cheap beer, wine in a can, cool campsite vibe – what’s not to love?!
  12. ParkGrounds
  13. Muchacho
  14. Midway Pub
  15. 97 Estoria
  16. Le Bilboquet
  17. NEW BONUS – Fetch Park & Ice House

Updated from Original Post from Atlanta.Eater

Registration is Open for the Atlanta BeltLine Westside 5K/8K!

Presented by Delta Air Lines, the Atlanta BeltLine Partnership’s Run.Walk.Go! Race Series is the perfect way to get your “fit” on while exploring different Atlanta BeltLine trail segments. Check out the latest project developments, snag a race t-shirt you’ll be proud to wear, and burn a few calories. Yes, it’s a race, but it’s all about the fun – runners, walkers, strollers, and four-footed friends are all welcome!

The first “race” of 2018 is the Westside 5K/8K (8K option new for this year) on Saturday, July 14. This year’s race starts and ends at Lee + White in historic West End, makes extensive use of the Westside Trail which opened to the public in September 2017 and features an awesome after-party at Monday Night Garage!

The Westside 5K/8K is a “fun run” meant for participants of all fitness levels. But if you’re looking to take home the hardware, they will have race medals ready for the following winners:

  • Overall M/F
  • Overall Master’s M/F
  • Overall Grand Master’s M/F
  • Overall Sr. Master’s M/F
  • Top 3 in each of the regular 5-year age groups (10 & under through 75+)

Overall awards based on gun time. Age group awards based on chip time.

The start/finish line area will be filled with energy, music, and refreshments. All participants will receive a complimentary adult beverage from Monday Night Garage. They will be chip timing the start and finish, and sending participants out in quick waves to ensure no one gets bumped around in the crowd. The 5k course has been USATF-certified.

Be sure to register by June 14 to take advantage of the early bird discount!

Spring Festivals Around Atlanta

Metro Atlanta has so many things to do every weekend, and this list is only a fraction of the events that occur in and around our incredible city. I love Atlanta and hope you do, too! The real estate market is hot right now. If you are considering buying or selling a home, now is the time of year to act! Real estate is truly my passion; call me today to find out how my marketing and local and global connections can help you buy or sell a home.

APRIL FESTIVALS

ATLANTA FILM FESTIVAL MORE INFO
The Atlanta Film Festival is one of the region’s largest and longest-running preeminent celebrations of cinema in the Southeastern United States. More than 25,000 festival attendees enjoy independent, animated, documentary, and short films each year.


ATLANTA DOGWOOD FESTIVAL MORE INFO
The Dogwood Festival has evolved into one of the largest events in the Southeast. You’ll find the country’s best painters, sculptors, photographers, jewelry makers and glass blowers, as well as live performance art exhibitions, interactive music workshops and a food festival.


GEORGIA RENAISSANCE FESTIVAL MORE INFO
Join hundreds of colorfully-clad characters for a medieval European Country Faire. Feast on hearty food and drink, shop for hand-crafted treasures and become mesmerized by artisans at work. Ten stages of music and comedy, performing animals and games ensure fun for the entire family!


INMAN PARK FESTIVAL MORE INFO
Widely regarded as Atlanta’s most spirited and eclectic event, the Inman Park Festival boasts a weekend of family fun. Atlanta’s biggest street market, the city’s quirkiest parade, a juried art show, live entertainment and dance festival are just a few of the things you’ll find.


SWEETWATER 420 FEST MORE INFO
Celebrate Earth Day with the Atlanta-based brewery’s annual festival in Centennial Olympic Park! Enjoy live music, an artist market, comedy tent and 5K race, all while safely enjoying the best of Sweetwater’s beverages.


MAY FESTIVALS

ATLANTA CARIBBEAN CARNIVAL MORE INFO
The annual Caribbean Carnival continues to offer even more music and marvels. Kick off this Memorial Day weekend with Mas and Music – a celebration of Caribbean culture, cuisine and costumes. Festival highlights include the annual parade of bands through downtown, an artist market and tons of dance demos.


SHAKY KNEES MUSIC FESTIVAL MORE INFO
Shaky Knees Music Festival features more than 30 bands, comprised of national, regional and local favorites, over two days at Centennial Olympic Park in Downtown. In addition to a stellar musical lineup, the festival includes food trucks, artisans and more.


SHAKY BEATS MUSIC FESTIVAL MORE INFO
Shaky Beats Music Festival hosts over 30 international touring DJs’ dropping their latest EDM tracks for three days at Centennial Olympic Park in Downtown. In addition to a brilliant lineup, the festival includes food trucks, photo booths, and more.


CHASTAIN PARK ARTS FESTIVAL MORE INFO
Located at beautiful Chastain Park, the Buckhead Spring Arts & Crafts Festival features more than 175 artists and artisans, live music, activities for children and much more.


ATLANTA JAZZ FESTIVAL MORE INFO
Celebrating more than 40 years of soulful expression, the Atlanta Jazz Festival is the perfect way to start your Memorial Day weekend. Explore Piedmont Park and visit vendors displaying some of the city’s finest arts and crafts, food and drink and merchandise.


DECATUR ARTS FESTIVAL MORE INFO
The Decatur Arts Festival celebrates culture, community and creativity with a weekend exploding with artistic expressions. The weekend starts with the ArtWalk, where local shops host free receptions for new art shows. You’ll also find music, performance art, dancing and special events just for kids and teens.


SWEET AUBURN SPRINGFEST MORE INFO
Sweet Auburn Springfest is a celebration of more than 25 years of great festivals on Auburn Avenue. Live entertainment, Southern hospitality and tons of activities are just a few sweet things you’ll find.


You can find additional details about these and other Atlanta festivals on the official Atlanta Convention & Visitors Bureau (ACVB) website.

https://www.atlanta.net/events/festivals/spring/