How to cope with a torrid housing market
The inventory of available homes in metro Atlanta is as low as it has ever been. That’s because investors who bought up a lot of houses to rent are keeping them off the market, potential sellers who are still underwater are waiting for prices to rise even further and prospective sellers who are afraid they won’t be able to find a home to move into are not putting their houses on the market.
Tips for Prospective Buyers
— If you like a house, make an offer quickly. There’s a good chance it will be off the market if you wait.
— Don’t lowball the asking price. It’s no longer a buyer’s market, and other buyers are ready to offer more.
— Make your offer clean, without a lot of contingencies. Sellers who have other options will take the one that makes it easier for them.
Tips for Prospective Sellers
— Remove clutter and stage your home well. Price your house in line with the market.
— Some buyers are making offers to hold homes while they keep looking, so be prepared if your initial deal falls through. Consider getting backup offers.
— Expect to counter-offer quickly. If buyers have to make a quick decision, so will you.
Source: Staff research
About the Author
Arielle Kass covers Gwinnett County for The Atlanta Journal-Constitution. She started at the paper in 2010, and has covered business and local government beats around metro Atlanta. Arielle is a graduate of Emory University.
