Contrary to popular opinion, the winter is a popular season to buy and sell real estate in Georgia. And if you are in the market to buy or sell a home in the next few months, now is the time to prepare yourself.
If you are selling:
* Know that Atlanta provides a year round market of buyers for real estate. Yes, there is some seasonality to the sales volume statistics, but that is largely offset by new year’s resolutions to make housing purchases a priority. While there may be somewhat fewer buyers visiting your home, my experience is that those who are shopping in cold, unpleasant weather and early sunsets are more motivated to buy a home than the casual shoppers of springtime.
* Be aware that the extended darkness of winter works against you. Few homes sell well in heavily overcast weather conditions, and that is the definition of January in metro Atlanta. You can partially offset that disadvantage by replacing all interior light bulbs with the highest safe wattage bulb available. And make sure every light in the house is turned on before the prospective buyer walks into the house. I have never heard of a prospect who complained that a house was too bright and cheerful.
* Speaking of bright and cheerful, paint maker BEHR recommends for 2015 a series of “frosted pastels” to add “whispers of color” and “open up a space.” Benjamin Moore paints agrees, and has selected a cool pastel green as its 2015 Color of the Year. Don’t make the self-serving mistake of thinking that a buyer will want to select their own preferred colors, thus justifying you failing to redecorate now. Buyers would almost always prefer to avoid a project, and often have little imagination.
* Make sure enclosed spaces like attics and basements or crawl spaces are extremely well lit so as to dispel any suspicions of dark, dank, smelly areas of the home.
* Take advantage of the light you have by planning on open houses each weekend, and make sure your home is in showing condition during likely visitation times, like Saturdays and Sundays. Finally, bake fresh bread or simmer cloves in a pot of water on the stove during open houses to add a heavenly aroma to your home. Your sense of smell is closely related to your emotions, and people buy houses emotionally. Use all the buyers’ senses to help him or her fall in love with your home.
If you are the buyer:
* Buying during the cold months is a good idea for you on several fronts. First, you know that any seller who has his home on the market in January is motivated to sell. Second, you’ll get to see the heating, plumbing, insulation, roof and gutters all in action. And finally, agents, lenders, inspectors and attorneys all have more time to spend on you. By the middle of spring, that will have changed.
* Get pre-approved by a lender before you ever start looking at homes. This gives you a distinct advantage over prospective buyers who have not taken the time to provide a lender the financial information they need to make a decision. In addition, a larger than average earnest money deposit is music to the ears of any seller. While a deposit of 1 percent of purchase price is typical, a deposit of three times that amount shows the seller you are a serious buyer.
* Try to schedule all your visits during daylight hours. I understand that in January, it starts getting dark around 5:30 p.m., but looking at a house in the dark robs you of a fair viewing of the home’s assets. Also, remember that it rains a lot in January and February, so make sure to look closely at the basement and ceilings for signs of water penetration.
* My advice is to work with an experienced real estate professional. Yes, you can approach the home buying process on your own, but I don’t think it’s smart.Agents keep up-to-date on all the latest changes in financing, housing styles, valuations and a million other details that you don’t want (or need) to know about.
* Finally, look for the least expensive home in a more expensive neighborhood. Avoid the most expensive home in a less expensive neighborhood. And don’t lose a hundred thousand dollar deal over the cost of something as inexpensive as a refrigerator. Look to your real estate professional for advice and direction in terms of valuation and negotiation. I believe you’ll be glad you did.
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