Greater Atlanta Real Estate Blog

Open Door, Zillow and Others Cancel Contracts

OpenDoor, Zillow, Etc. Is Terminating ALL Contracts in GA

I keep getting asked the question "Should I use these companies to sell my home?"  There are so many layers with this question it's really difficult to unpackage this with a yes or no answer.  And now, in light of COVID-19, there is a new layer that is adding a new element that may answer that question for us.  You see, all the so called iBuyes (institutional buyers) are leaving town as fast as they showed up.  

iBuyers had a business model around fair price and  convenience to the customer. The fair price part was left for the consumer to discern.  The convenience piece was attractive. No showings. Control your timing.  The cost for this convenience though was sometimes hefty. But i digress.

Now the market is suddenly slowed to a near halt and these buyers are too nervous to 'play ball' during this time and they are terminating their contracts left and right.  Some have reported the iBuyer company Zillow is offering $5,000 to the seller to get out of the contract.  More and more reports are coming in about all investor/iBuyer offers.

iBuyers stop buying homes in Atlanta, GA

So, where does this leave you as a seller?  Well first, if it's very important to you for the convenience, then choose a more local company like  

To get the most for your home it's almost always in the seller's interest to hire a top real estate agent like top performer Stan Jones with Jones Home Group.  Statistically speaking, a...

COVID 19 and Real Estate

Covid Update 19

COVID-19 and The Real Estate Market

Hope you are well and making it through the turmoil caused by the corona virus!  The downtime has been very nice.  At the same time it sometimes brings anxious feelings.

There is much misinformation and lots of good information to learn on a daily basis.  Real estate may or may not be a thought for you right now.  We wanted to keep you updated anyway incase you wanted to know. First, noone has a crystal ball as to what this will do to the real estate industry. Some say it will only stir it on more after this settles down. Some say it will make prices drop drastically. And some fall anywhere in between.

To be certain it WILL have some affect on us and the industry.  If nothing more it was interrupt the next few weeks with the normal flow of showings.   Our offices remain open at the current time and we are continuing to work hard to service all of our clients. Yet our Open status looks different. We are prepared to complete virtual showings, virtual meetings and virtual appointments.  

Everyone is doing their part to 'slow the curve'.  From everything we hear and are learning about this situation the more clarity we are getting to stay home and keep your distance from people for an extended period of time. Then, and only then, will we see businesses/restuarants/etc. re-opening and get back to a more normal flow of life.

The longer it takes, obviously the worse for our market and for everyone.  

The ...

Should I Stay Or Should I Sell My House?

Should I Stay or Should I Sell?  

Reminds me of the old song "Should I Stay Or Should I Go Now. If I go it will be trouble but if I stay it will be double."

It's first quarter 2020 and the real estate market has been good for going on 8 years now.   Wow, that's a long time and some project the market to shift again soon.  But...hold that really the best indicator whether to sell or buy a house?  

Yes, buying low and selling high is very important.  What about for most of us who already own a home?  Let's run some numbers and see what makes the most sense.

Running the numbers -

If someone decides to wait to buy a house - 

Home prices today $300,000  Interest Rates today 4%

They wait one year and buy next year - 4% appreciation  Home price $312,000

And let's say the Interest Rates stay the same at  4%  Total extra payments $21,000 over 30 years due to the 4% appreciation of the home.


Here is another example I think I’m going to wait to buy? 

Let's assume Home price today is $300,000 Interest Rates today 4%

We decide to Buy next year - and the home price does not change. It's still $300,000 next year.

But the Interest Rate goes up to 5%

This will result in Total extra payments of $64,210 over the next 30 years

Here is another example - Home prices go up 4% and interest rates go up from 4% to 5%

Home prices today $300,000

Interest Rates today 4% Approx $1541 / month...

Providence Club Monroe, GA

Nestled in Monroe, GA Walton County is a sweet gem.  Southern charm golf and community.  Swim and Tennis. Convenient to shopping, dining and major travel.  Come visit us for your taste of the beautiful south.  Providence Club community is a true treasure