Here’s a fun fact, real estate agents in GA have no fiduciary responsibility to their client or customer. Some may ask, “what does that mean”? Well, the exact definition varies depending on the type of business, but in short a fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients' interests ahead of their own, with a duty to preserve good faith and trust. Being a fiduciary thus requires being bound both legally and ethically to act in the other's best interests. Typical examples of fiduciaries are trustees, executors, and guardians.

Are Real Estate Agents in GA Fiduciaries?

In some states, but in Georgia real estate agents are not fiduciaries. They are of course expected to exercise reasonable…

2519 Views, 0 Comments

As we enter the final weeks of 2022, the national real estate market is catching its breath. Some markets remain in flux, others have started to level off already. Atlanta is one of the steady ones, and housing inventory in Atlanta will not jump in 2023. This is due to several reasons and while 2023 will likely continue the post pandemic “malaise”, the Greater Atlanta housing market remains one of the most stable in the nation. Greater Atlanta did not “zoom” up in value and activity. It went bonkers to be sure, but not to a completely unrealistic point. The region has been growing consistently over the last decade and while the bump was experienced, there is solid footing which will keep this market stable.

Atlanta Housing Inventory

Everything must…

1982 Views, 0 Comments

homebuyer regretWell add this to the list of “No chit Sherlock” observations coming out of the last two years. Seems that just over 70% of recent homebuyers have buyer’s remorse. In Feb '21 we noted that 44% of homebuyers had buyer's remorse, these new stats are bonkers. This number is a bit of a surprise and the reasons have to do with price but also with just about every other aspect of the buyer's transactions. Put politely, these buyers are now in a position that no one wants to be in…and they have only themselves to blame. Sure, the market over ’21 and the first part of ’22 was bonkers, competition was fierce. But how many of these mournful buyers made the cardinal sin of not qualifying their agent? Most of them.

Unqualified Real Estate Agents

So many…

2067 Views, 0 Comments

The pandemic induced hysteria around the Atlanta housing market is rapidly giving way to balance and with it, the return of a special type of nonsense. Some home sellers take things personal and can be reluctant to acknowledge the changing market; none of that applies to their home. Data clearly shows their home is aspirationally priced, buyers confirm it, and it sits idle. When challenged the agent and/or buyer drop the classic line..."the seller doesn't need to sell". 

Doesn't need to sell is one of the stupidest things anyone in real estate will say or hear. It's illogical and contrary; why is the home is listed? That answer is always along the lines of "that's what they want, that's what they have in it, or that's what they need". Oh OK.

The…

1270 Views, 0 Comments

Attention media! Please stop; the greater Atlanta housing market was just fine in the 3rd Qtr of 2022. Stop the insentient blathering about impending real estate Armageddon, the data is not there. The Atlanta housing market in Q3 2022 did not melt down. In fact, the data is nothing like the media would love for everyone to believe. Best to pay attention to legitimate major issues, starting with the recession and inflation.

Atlanta Housing Market in Q3 2022

Let’s have a look at factual data. Here are four charts that display the residential activity in the six major Atlanta area counties considered "Greater Atlanta", the lower left corner of each chart shows the criteria. We examine list price, contract price and sold price. Each chart compares the…

2124 Views, 0 Comments

As we get back to a normal real estate market, contingencies that buyers waived during the covid crazy months will return. Due diligence periods are back and with them, the main contingencies of appraisal, finance, and inspection. It’s reasonable to say that everyone needs to get reacquainted with home inspection hysteria and the rule of making mountains out of moles hills. The inspection is a critical component of the purchase process and certainly one of the most contentious and misunderstood.

The Imperfect Home Inspection

No home is perfect, ever. Homes are not built in labs, they are built on site, by hand and comprised of dozens of different materials. They are impacted by weather conditions, use, age and maintenance levels. Inspectors find…

1687 Views, 0 Comments

Well what's old is new; let's get ready for the return of verbal (mostly) combat regarding seller's disclosures. Can the seller change the disclosure after contract? Standard real estate answer..."it depends".  Issues with the seller's disclosure tend to be the most common thing buyers and sellers lock horns over. Contracts fall apart as buyers claim things were omitted, information wasn't accurate, something that was to remain was taken...the list is ever growing. Remember all of those buyers that waived the contingencies during the lunacy of '21 - early '22? Now some are having issues and looking to assign blame. A bit late for that, remember that while sellers in Georgia are obligated to disclose latent defects, they are not obligated by law to…

3523 Views, 0 Comments

Properly priced homes still command attention despite the ongoing Atlanta area housing market adjustment. The data into the 3rd Qtr of 2022 will show the pull back and move toward a balanced market, but as with everything real estate related, the devil is in the details. At the macro level, buyer activity slowed, days on market increased, months of inventory increased and the general balance of power is moving from sellers to a neutral position. On a granular level however, how homes are presented for sale makes all the difference.

Price & Appeal are Key

No market likes uncertainty, particularly real estate. As rates rose, the initial response of buyers was to sit on their hands, as the shock subsided they returned. However, they return to a market…

1961 Views, 0 Comments

All of the media outlets have already concluded the housing market is doomed. What if instead of the relentless, bombastic blathering emanating from the media, time was given for patterns to develop? What if the Atlanta real estate market isn’t going to crash? What if this is a period of adjustment and a return to normal? How effective is anticipating stock performance by watching the ticker and reacting every few minutes? What if we back out, let the situation develop and look for past patterns to anticipate future trends? Yeah, what ifs are risky and there are many variables. However when time is taken to consider the data, real estate falls into pretty consistent patterns.

To anticipate where the Atlanta area real estate market might go, it’s good…

2065 Views, 0 Comments

The Atlanta area consistently ranks as one of the very top markets for home flippers. The term "flipping" has a ridiculously broad definition, it ranges from changing the locks and selling it to completely a full remodel and selling it. The TV shows can't fully develop all of the headaches; in 22 minutes they need to wrap things up with smiling faces. The internet parasites selling "secrets" on how to make millions are delighted selling nonsense and collecting a few hundred bucks from each "never to be millionaire". Flipping homes is exceptionally messy, difficult at every level and stressful beyond description. It will keep you up at night, make you gray before your time and likely cost you money and time.

What Does a Flip Home Look Like?

There is…

1580 Views, 0 Comments