3 THINGS TO KNOW about the Atlanta Residential Real Estate Market

3 THINGS TO KNOW... 
About if it's a Bubble & if it will Burst.

1 - Interest rates
Some say this is all there is to it, BUT is it so? 

2 - Prices
Sure, but what drives them and what does it mean big picture short term and long term? 

3 - Jobs
The Driving force, how, why, what to know, what it means.
 
Recent Atlanta home market stats that apply, 
Supply & Demand (the foundation of any market): 

Supply at it's lowest:
Absorption is 33 days

Demand at it's highest:
DOM 7 days 
Ave list to sale price 100%
Ave sale price is up 25%

3 THINGS TO KNOW...
About Pools and Home Values in Atlanta:
1 - Return on investment exceeds the price for the pool (ESPECIALLY IN ATLANTA).
2- Adding a pool to your existing home doesn’t have to take forever.
3- The latest pool technologies enhance property value.

LATEST ATLANTA MARKET STATS
Comparing February 2020 to February 2021:
_______
Most national statistics claim that the same home with a pool will sell for 10% more, in Atlanta, sales indicate that added value for a pool is more like 20%
_______
$1m Plus market the Number of sales is up 32%
(from 90 in February 2020 to 132 in 2021)
&
Number of Listings in the $1m Plus market is down 26%
(from 1,244 in Feb 2020) to 896 in Feb 2021)
_______
Median Sale Price up 20%
$1m Plus market:
Median Sale Price up 10%
_______
Supply (months of inventory)
Supply is down 60%
$1m Plus market:
Supply is down 30%
_______
Number of Sales is the same
$1m Plus market the Number of sales is up 32%
(from 90 in February 2020 to 132 in 2021)
&
Number of Listings in the $1m Plus market is down 26%
(from 1,244 in Feb 2020) to 896 in Feb 2021)

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You can find us anytime online at jmpartners.io

3 THINGS TO KNOW... about offers in an extreme Sellers market
Eavesdrop on JMPartners
1: the highest priced offer isn't always
2: what buyers are saying that they're not meaning
3: what to do about it.
- higher earnest money
- shorter due diligence
- make it cash
- pay for the option (In GAR, 'right to request repairs' isn't what it sounds like)
LATEST ATLANTA MARKET STATS
Comparing February 2020 to February 2021:
_____________________
Most compelling...
$1m Plus market the Number of sales is up 32%
(from 90 in February 2020 to 132 in 2021)
&
Number of Listings in the $1m Plus market is down 26%
(from 1,244 in Feb 2020) to 896 in Feb 2021)
_____________________
Median Sale Price up 20%
$1m Plus market:
Median Sale Price up 10%
_____________________
Supply (months of inventory)
Supply is down 60%
$1m Plus market:
Supply is down 30%
_____________________
Number of Sales is the same
$1m Plus market the Number of sales is up 32%
(from 90 in February 2020 to 132 in 2021)
&
Number of Listings in the $1m Plus market is down 26%
(from 1,244 in Feb 2020) to 896 in Feb 2021)


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You can find us anytime online at jmpartners.io

3 THINGS TO KNOW... 3 Fears Driving Today's Hot Market
JMP Atlanta Home Market Eavesdrop

3 Fears Driving Today's Hot Market
1) Fear of inflation
2) Fear of rising interest rates
3) Fear of living last year again

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3 Things to Know About Supply

- What it really is
- What it's doing in Atlanta
- The pro's and cons... aren't always what you think

How Buyers can make a Sellers' market their market.
What Sellers need to know, what could hurt them in todays market.

Average list to sale price is 100%
Sales are up
Sales prices are up over 20%
Average days on market is 10 days
Supply is 1 month

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3 THINGS TO KNOW...
About Getting Your
Home Ready to Sell

Even in this hot market, there are homes that don’t sell and many that do that should be could be selling for more ...

NO MATTER WHAT,
3 Unbreakable Rules of Getting Your Home Ready to Sell

1) IT'S GOTTA BE SPACEY... I.E.
A)Clear the Big Stuff 
i) Get it out
ii) Paint it white

2) IT'S GOTTA BE A CANVAS
A) Clear the little stuff
i) Knick-knacks out
ii) Family photos out

3) RULE OF 3
not more than 3 of anything on surfaces
except when ...

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3 things to know about escalation clauses.

- JMPartners Atlanta Market Eavesdrop

1- what they are

2- how they can backfire

3- how to use them/ how to know when to use them

In a market with a 20% increase in price over this time last year, 1 month of inventory, an average and median of 10 days on the market, and 100% average list to sale price, Escalation Clauses are prevalent... 

Know the pro's the cons and how to use them to work for (not against) You.

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JMP Atlanta Market Eavesdrop
Atlanta & Tech 3 things to know
... with Gregg Metcalf

1) What's the residential market doing in Atlanta?
2) What about technology companies moving to Atlanta?
3) How is technology moving to Atlanta affecting our market, our values, and the overall future of Atlanta

With final thoughts:
Favorite Hollywood Couple?

with Gregg Metcalf, office tenant rep broker with JLL
President-Elect of the Atlanta Commercial Board of Realtors
Best Overall Deal of the Year Award 2019 – Mercedes Benz USA
Board of Trustees for The Leukemia & Lymphoma Society Georgia Chapter

1) what is our market doing:
last year vs this year, monthly stats
# sales 4,421 | up 1%
median sales price $309,000 | up 18%
average sales price $379,000 up 18%
Supply 1.2 months, down 50% (down from 2.5 months this time last year)
New listings 6,79 | down 19.4% to this time last year
active listings | 8,122 | down 45.5% from this time last year*
*fewer listings now than any month the entire year last year, including COVID

 2) What about technology in Atlanta
While quarantining and COVID were in their prime and everyone was pulling out of office deals or pausing, the technology companies were quietly leasing up office space around Atlanta.
Facebook leased 100,000sf in Atlantic Station
Microsoft leased over 500,000sf in Atlanta statin
Google leased  over 400,000sf in midtown


WHY ATLANTA?
- To fulfill their new diversity initiatives
Atlanta has more diversity and more HBCU (Historically Black Colleges and Universities) than other cities) ...
- Highly educated workforce and workforce source and low cost of living and doing Business
- Hartsfield-Jackson Atlanta International Airport,  the busiest airport in the US by passenger traffic. About 104 million passengers travel through the busiest US airport, about 20 million more than for the second busiest airport in the US.
Microsoft purchased 60 acres in Quarry Park,
specifics not released
it will be mixed-use with
research center
affordable housing
a component of it part of/ funded by the Bill & Linda Gates Foundation
Air BnB just announced their move to Atlanta

3) how is that affecting the Atlanta market and values
more diversity
more employment
across multiple industries and income levels

Favorite Hollywood Couple?...  well...

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3 things to know about locking your mortgage rate with Kevin Dwyer

1) Locking your mortgage rate; what is it really?
2) What you might not know about timing?
- 90-day lock, you can float it down
(but 90-day locks are more $)
- You can lock your rate Before you find a home
3) Lower rates aren't always better.
- What do you mean, lower might not be better?

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3 Predictors for Future Home Prices

Up? Down? Why? How do we know?

As always, Supply & Demand affect the market,

We already know demand is up (days on market is a week)

Supply is down (to 1.3 months, neutral is 6 months)

Prices are up (25% in Atlanta year over year, 100% average list to Sale Price in Atlanta)

How is it all affecting the future of prices in Atlanta, what to know, how to know...

1- Building Costs

Are going up and why

2 - Inflation

Is predicted in 2022 and why, how does this affect price

3 - Interest Rates

What is really happening? How do we know what's happening with interest rates? Clear cut ways to predict them and what it means for home prices.

Please subscribe and share with your friends who might be moving or who just want to keep up with the latest in the Atlanta residential market!
You can find us anytime online at jmpartners.io