State of Real Estate

The comments in this post come from study of statistics, conversations with buyers and sellers from throughout the greater Atlanta area and following trends in specific market niches.

A Unique  Balance Exists In The Market.
We talk about a Buyers' Market vs. a Sellers' Market. A Buyers' market is created by more property on the market than willing and able buyers. A Sellers' Market is created by more willing and able buyers in the market than properties on the market for sale. Most purely technical analysts may look at the shrinking inventory of houses for sale, in most price ranges, and determine this to be a sellers' market. There are a couple of factors outside the normal indices to consider. In times of uncertainty in the economy, many people are reluctant to make a decision. Also, those who could buy a more expensive home are opting to purchase a home with minimal criterion for the time being. Secondly,  tighter controls on qualifications for borrowing money takes a large number of willing buyers out of the market.

The Silver Lining In This Cloud Is Market Parity.
When a market is in balance between sellers and truly willing and available buyers, values reflected in real estate transactions reflect high fidelity. It is a great feeling to operate in an industry where there seems to be no advantage for either party over the other in the transaction. The best in human nature is exhibited when everyone involved in the transaction is seeking the real market value of a property.

The First Niche To Experience A Realistic Need For New Construction Is The Luxury Homes Market.
Many owners in this market niche were able to hold  their property until price stabilization returned. Within the market areas that have a high quality infrastructure (Great schools, roads, shopping, recreational facilities and thriving communities), these higher priced homes have regained much of the value lost a few years ago.

The Markets In Unattractive Communities are Experiencing Stagnant Low Property Values.
The factors influencing community attractiveness have little to do with traditional measurements of demographics. The main drivers are how well the community has worked together to raise standards for home owners to take care of their property, supporting community organizations that add value to the lifestyle of everyone in the community and a community focus on safety and security. 

Professionals Operating In The Real Estate Industry Seem To Have Learned Valuable Lessons.
As we see an increase in the number of people entering the industry this year, it seems the lessons learned during the difficult market the past several years are being passed along to the new professionals. This is encouraging to those of us who experienced the results of the market impact. I have a vision for real estate professionals becoming even more client-centric than we are using current models of real estate marketing. My next post will address the ingredients of this new way of doing business.

I just got notification that we have 25 new viewers of this Blog on another feed site. I want to let our viewers know that we are posting on this blog in tandem with our Facebook page:Across Atlanta Real Estate

http://www.facebook.com/phil.harley.business

Please check it out for a variation of what we cover.

Report Came Out Today

I just reviewed a report from a Brokerage in Atlanta. Their niche is the finest of luxury homes. The report indicates their sales are 17% higher this year than the same time last year. Their plea was for more inventory. They have more buyers than homes for sale. As a Registered Appraiser in addition to an Associate Broker, at no charge, I would be more than happy to talk with you about selling your home at full market value. Again, the result of our conversation and value opinion may be that I find the best professionals to help you, if it is not a project for which my team is best.

New Construction On The North Side Of Town

Signs of New Construction Point to Inventory Needs
Although there is allot of talk about buyer's or seller's markets, sometimes it's not one or the other. Akin to stagflation in the economy, markets like the one we are experiencing this year in Atlanta is good for buyers and sellers. The sellers who may have been sitting on the sidelines are encouraged to see some price stability and by placing their homes on the market now adding to inventory that is meeting some pent up demand. 

Our Collective Experience is Bringing Balance
So the prices we are seeing reflect a realistic expectation on the part of buyers and sellers. No one is under the illusion that they can gouge the people on the other side of the transaction. Increasing inventory, stable offering versus accepted pricing, reasonable days on the market and other key indicators provide the signs we have been awaiting to resume fair trade with satisfied buyers and sellers.

Fresh Start

Back In Real Estate

My Recent Hiatus

After years in the Real Estate Industry as Broker and Adviser, I spent a year as Superintendent of a private school. While working in this temporary capacity, we kept our connections with active professionals in real estate and were able to help some sell property by utilizing my network of the best professionals for each project.

Current Status

We are now affiliated with Heritage Real Estate Brokers. Our vision remains: to provide the connection or personal care to serve real estate sellers and buyers with the best professional for each situation. With a personal network of residential and commercial real estate professionals and the tools to evaluate recent performance, a conversation or face to face discussion is the starting point of that connection process. We can make that connection for you without any additional charge to the commission paid for the buyer or seller representation. In many cases the buyer representation is paid by the seller.

Our Future

Heritage Real Estate Brokers is aligning with the Century 21 Real Estate brand. Once established, we will have all of the national and international marketing and networking tools available through the outstanding Century 21 robust system. In addition, we will use this blog and our Facebook page Across Atlanta Real Estate, Phil Harley to provide cutting-edge real estate information and seamless connections to serve your needs in conjunction with the Century 21 systems, and added value for the Atlanta, North and Coastal Georgia markets.