Deal or no Deal?

publication date: May 12, 2008

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author/source: Jeromy Trask

By Jeromy Trask

Jeromy Trask

It’s time to deal with reality… now more than ever it is crucial you understand what is going on around you. For sellers, the days of multiple offers and naming your price are long gone. In fact, during February and March single family homes in zip codes 30004, 0005, 0022, 0075 and 0076 saw closed units drop 36.3 percent, time on the market increase 14 percent and prices drop 1.9 percent vs. the same time period a year ago. While there are still outstanding closings to be reported for April, it does not appear as though they will be enough to help the trend.

It’s time to deal with lowball offers... the reality is those same areas have over 14 months supply of standing inventory, a buyers market by anyone’s description. So it’s easy to see why it seems every buyer out there is looking for a deal. The good news is they are not always as unrealistic as they first appear and often enough, they want your house more than they initially reveal. In fact, those same zip codes referenced above still have over 30 percent of all listings selling in less than 30 days and doing so at a rate of 97.6 percent of list price. 

It’s time to deal with your mortgage company... unfortunately, as indicated by last Tuesday’s record number of homes taken back on the courthouse steps, foreclosures are on the rise. The silver lining, if you can call it that, is many lenders are willing to work out arrangements with sellers rather than going though the foreclosure process. In turn, “Short Sales” have become a part of most banker’s and real estate agent’s regular vocabulary.

It’s time to deal with a true professional… without extensive market knowledge and a clear understanding of current conditions and trends, it is nearly impossible to navigate the sale of your home to a top selling price. Considering the selling process starts and ends with price; it is imperative you work with someone who has the expertise and knowledge to help ensure your home is priced correctly from the beginning.          

       
If you are looking for someone to help you deal, let me know and I will make sure you get connected with a full time professional capable of helping you navigate the best deal possible.

Jeromy Trask, V.P Managing Broker, Harry Norman, Realtors, 770-518-5550, Jeromy.trask@harrynorman.com