Posts made by author 'Jess Barron'

The Real Estate Listing Inventory "Problem" In Coweta County

As of Monday, October 26^th, there are only 458 single family detached homes listed for sale homes in Coweta County in the Georgia Multiple Listing Service (GAMLS). This is the lowest number that I have seen in 14 years of being a Realtor. When I first started in 2006, it was normal to see 2,500 listings for sale on the GAMLS in Coweta County. The local real estate market has an inventory problem and homeowners are reaping the benefits.         

In a market of low supply and high demand, prices will go up. We are seeing this before our very eyes here in Coweta County. I recently listed a remodeled home in Sharpsburg for $215,000. My sellers received 21 offers in three days, as well as four back up offers. All of the offers were over list price as buyers and their agents were alerted that the sellers received multiple offers. The demand for housing, particularly in t...

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Contingency Contracts & Kick-Out Clauses in Real Estate

Contingencies are a normal part of real estate contracts. Realtors typically see contingencies based on the buyer's loan being approved, as well as the property appraising. However, real estate agents are seeing more and more purchase and sale agreements contingent upon the buyer's current home selling. This can be a very stressful task, to time the sale of a buyer's current home with the sale of their new home.

In large part this increase, in contingency contracts, is due to Coweta County having such a strong real estate market. People are hesitant to list their home for sale before looking for a new home, because properties are selling so quickly. It would not be a good idea to sell your home without having anywhere to go. Many buyers are identifying a home to purchase first then listing their home second.

A contingency contract hurts your negotiation power. Contingency buyers a...

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Real Estate - What Is Due Diligence

When purchasing real estate, it is important to know what a due diligence period is. This is the opportunity for the buyer to do their homework and discover information about the property they are purchasing. The due diligence period is negotiable between the buyer and seller and is part of the purchase and sale agreement. In residential real estate, this time period is typically the first 7 to 14 days of the contract but can be longer or shorter. This is the best time for a buyer to conduct a home inspection. Some people think of due diligence like an option. The buyer can option out of the contract without any penalty and have their earnest money returned in full. Regarding home inspections, the buyer can use the ability to option out of the contract as leverage for concerns found during the home inspection. The purchas...

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Covid-19, or the coronavirus, has affected everyone and everything at this point. The virus has significantly affected how we conduct real estate here, in Coweta County. Real estate brokers, lenders, and closing attorneys have been deemed "essential services" by Homeland security as of 3/28/20. We are still listing, showing, selling and closing but the practices have certainly changed.

Realtors are conducting more virtual showings. This involves us using our phones, tablets, etc. for videos, facetime, etc. while we are walking through a house for a potential buyer who may not feel safe getting out to look at property in per...

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The spring time is the best time to sell your home. More homes are sold from, the spring time to the fall, than any other time of the year (per GAMLS). Real estate correlates with both the weather and school year. Buyers prefer to look at homes when the weather is nice. Families prefer to move their families once the school year is over. Children are already out of school then and do not have to change schools mid-year. The last day of school for Coweta County, in 2020, is May 22nd. When considering the average market time to sell, a 30-60 day closing process, its best to list in the spring to accomplish a late spring or summer move.

The first day of spring, officially, begins on March 19^th. As a Realtor, we have seen activity pick up the last couple of weeks, in preparation for the spring selling season. Home owners have begun to prepare their homes for...

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