Posts made by author 'Jess Barron'

Realtors and home buyers alike are waiting for a significant improvement in the supply of real estate listings. As of April 27^th, 2021 there were only 220 single family detached homes for sale in Coweta County per the Georgia Multiple Listing Systems (GAMLS). At one point, earlier this year, this number dipped below 200 listings. While 220 is an improvement, that number is still historically low.

We are seeing the same issue across the state of Georgia. In fact, the number of new listings in the first quarter (Q1) of 2021 decreased 10% from Q1 of 2020 according to the Georgia Association of Realtors (GAR). The average days on market for a listing dropped 34% year over year. The number of pending sales, closed sales and the average sales price all increased dramatically year over year. The average sales price in the state of Georgia is $323,831. We are in a very strong seller's market.

If you have friends in the real estate business or if you are ever on so...

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What happens if a property that you are buying or selling is destroyed? With the recent tornado that destroyed parts of Newnan, some of you may be wondering this. Hopefully, this is not your current situation.

Most Realtors here use the Georgia Association of Realtor (GAR) Forms for contracts. The purchase and sale agreement specifically has language dedicated to this situation. Section 3C of this form states:

Risk of Damage to Property. Seller warrants that at the time of closing the Property and all items remaining with the Property, if any, will be in substantially the same condition (including conditions disclosed in the Seller's Property Disclosure Statement or Seller's Disclosure of Latent Defects and Fixtures Checklist) as of the Offer Date, except for changes made to the condition of Property pursuant to the written agreement of Buyer and Seller. At time of possession, Seller shall deliver Property clean and free of trash, debris, and personal property of Sel...

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"It's a feeding frenzy. I listed the house at 9:30am and had seven showings by 12:30pm. I am writing an offer over the list price right now." This was the answer by a Realtor in our office when I asked how his new listing in downtown Newnan was going. We are seeing similar situations all the time in the current real estate market. The demand for housing is very high and the supply of listings are very low. This is creating a feeding frenzy for buyers looking for homes.      

As of February 22^nd, 2021, there were only 212 single-family detached homes listed for sale in Coweta County, on the Georgia Multiple Listing Service (GAMLS). The numbers of homes listed for sale continues to decrease. Real estate listings are a premium in the current market settings. I can remember as recently as a few years ago when there were regularly 600-800 single family detached homes for sal...

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2021 – Real Estate in Coweta County

As we move into the new year, the future of real estate in Coweta County looks bright. There is a great amount of activity in all sectors of real estate including industrial, commercial and industrial. The area in and around "the Moreland exit", or exit 35 off Interstate 85, is seeing spectacular industrial development with huge companies like Amazon and Goodyear operating in massive, 1,000,000 + square foot buildings there. If you drive down Gordon Road from there, you will notice residential developments and subdivisions up and down that road.           

The Downtown Newnan real estate market is as hot as it ever been. The desire to be there, whether with a business or a home, is strong as ever. The prices reflect this robust demand. It is not uncommon to pay $150 a...

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Closing Time

In real estate, the closing is the grand finale of a transaction. Most closings run smoothly. Unfortunately, some closings do not. The following paragraphs contain information that will enable you to have a smooth closing whether buying or selling a property.

If the real estate purchase involves a loan, the lender must send the borrower the closing disclosure at least three days before closing. This is required by law. The closing disclosure is a from that discloses loan terms, fees, closing costs, the buyer's projected monthly payments, etc. It is essential that a buyer receives this form three days before closing to close on time. If the lender asks the borrower for documents to complete their loan approval, time is of the essence for the borrower to send these documents to prevent a delay in closing.

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