-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/HTnUj
Welcome back to go gaddis real estate radio right here on AM nine 20, the answer. We appreciate you sticking with us this fine Saturday morning in this segment. Are we specifically Atlanta in an inventory crisis? Many people say the answer is yes, but there are a few people out there who say the answer is no, which one is correct?
Also, is a pre-listing home inspection a good idea? And how do you choose a home inspector? My name is Cleve Gaddis. You're listening to Go Gaddis Real Estate. We are really one main goal and purpose is to help listeners go from real estate novices to experts. So home selling and buying can be done with total confidence and without the worry typical with life's biggest investments.
And we want to connect with you. So let's talk. Go to go gaddes radio.com, g o. G A D D I S radio.com. You can ask questions that we answer on air, off air. You can make comments, push back, challenge anything you want to share ideas with us. We've had a lot of really creative things shared over the years.
You can request your neighborhood be featured in our neighborhood spotlight and you can subscribe to our podcast. We'd love you to be a podcast subscriber. Michael Crew of Homeowner Management Services was our expert advisor on the prior segment, and he scared me straight on special assessments by hoa.
Since he is an HOA management company, my guess is they have some experience with this, and so I want to remind everyone who was not listening to the segment, if you're buying a home in Metro Atlanta or anywhere else, and you are the. During the due diligence period, you should probably put in as a requirement.
Special stipulations. Let me back up. When you negotiate the deal, you should put in the special stipulations of the requirements for the seller to provide you with a copy of the HOA minutes. For meetings for the last 12 months and with the most current and up-to-date HOA financials. And if you as a, and then you require maybe that to be delivered to you within the due diligence period, which can be seven days, 10 days, 12 days, something like that.
In some cases, buyers are not having the due, the opportunity to have a due diligence period or to inspect the property. So you still need to have some kind of mechanism in there where they're giving you this information. Because that's the way you would uncover any special assessments that are being considered, which you should know about as a buyer, but the seller is not required to disclose or that have been assessed, meaning have been passed by the board or by the HOA as a whole.
And whether or not they're due, as we discussed on the last segment, they can be approved, for example, July 1st, not due until October the 31st. If you close, for example, the first day of. The HOA management company would not be required to tell you about that because it was not yet payable, so it's a very, very tricky situation and could be a slippery slope.
My suggestion for you is you wanna work with a brokerage or a team that uses what's called the sheer home. Buying system. It's a 71 step process to make sure you don't learn anything at closing or after. You should have learned before. And one of the things that is done as part of that process is to order the HOA minutes and the HOA financials.
If you are looking for somebody to help you buy a house, go to go ga us radio.com. We'll reach out to you, or you could just call 7 7 0 4 9 7 0 0 0 0. Does it concern you as a seller or maybe even as a buyer, that there are currently what you perceive to be less homes for sale in the market? Does it worry you?
Does it, it make you less sure about what you should and should not do? We got a question from Donald in Loganville. We received a question from Donald Loganville says, I've heard you say we are not in a housing bubble, but are we in an inventory crisis? Well, most people say yes, we're in an inventory crisis, but it's not that we're in an inventory crisis compared to 2020 and 2021.
Right now, we have about two months worth of inventory in Metro Atlanta, which means if you take the total number of sales that have taken place over the last 12 months and divided by 12, and then you divide that number into. The number of active listings, we probably have two months, two months, and one week worth of inventory.
When we were at a real crisis, it was two weeks worth of inventory. We had one point, we had, I mean, two or 3000 total homes for sale in metro Atlanta. And that number's probably five or six or 7,000 today, which is still nothing compared to what it used to be, uh, during the Great recession and, and even.
So, but many experts say we're still at a house, we're an inventory crisis. And so if we look at months of inventory, in other words, how many months will it take to sell the existing inventory? Four to five months is considered a balanced market. And when they say we're in an inventory crisis, they mean we don't have four to five months worth of inventory.
Now, the way we measure the market less than four months is a seller's market. More than five months is a buyer's market. I do not believe we are in a housing bubble cuz we do not have enough inventory and, um, I don't believe we're in an inventory crisis in metro Atlanta. Would I like to see more inventory?
Yes. Yes. Uh, if you are a buyer looking for properties, might you believe that we're in an inventory crisis? Yes, it's possible, but I don't think that the level of inventory we have is so low that it is influencing the market in negative ways. And you know what? As I said that, I thought to myself, well, wait a minute, if a buyer cannot find a home, dang it, that's negative.
So if you're listening to the show and you are a buyer and you don't feel like there's enough inventory, Then you probably, definitely, that's a great way to say that. You probably, definitely, you definitely are frustrated and might consider us in a time of inventory crisis, or is inventory so bad or is there so much of it that it will cause a problem, uh, in the near future?
I say the answer is no. Are you concern? That a buyer'ss, if you're selling your home, that a buyer's home inspection might reveal a multitude of issues with the home. If you as a seller got a higher price because of a pre-listing inspection that you did, would that alleviate any of your concerns? My guess is it would probably make you jump for joy.
I am in the process, and this is a topic that is very near and dear to my heart right now. This is a question. From Polly and Duluth, we wanna list our home, but are concerned that a buyer's inspection will reveal issues that we aren't aware of as getting an inspection before listing a good idea. And how do you choose a home inspector?
I'm going to sell my home. For those of you listening to the show, you're thinking, yeah, you said last year you're gonna sell your home. And I told my third daughter that I was going to sell my home and her response was, uh, very, um, specifically, um, I'll believe it when I see it. Or I think what she said is, I don't believe you.
And, uh, I was, uh, it made sense to me. That she wouldn't believe me. I said I was gonna sell it last year. Now I'm saying I'm gonna sell it this year. This year I am gonna sell it and I'm going to do a pre-listing inspection. I'm gonna have an inspector come out and inspect the entire home and get a list of everything that's wrong with it.
I'm gonna hire the most detailed, uh, the most scrupulous home inspector that I can find. And, and normally I only use home inspectors who are members of the Georgia Association Home inspectors, because they're code certified, you can go to their site, G A H I. Dot com, G A H i, Georgia Association, home inspectors.com.
And, uh, you can find a list of members there. I'll have somebody come out and I'll inspect it. Then I'll go through that list and I'll decide the things that I need to take care of. And I'm, you know, I want a buyer who buys my house to have a good experience. I don't want a. But you know, uh, you know, sweep something under the rug or, or, or, or cover, cover their eyes with wool.
I don't, I want 'em to go in eyes wide open and I will go through and I will make those repairs. Then I'll have the home inspector come back out, inspect it again, and the ones that have been repaired, I'll have him remove those items from the home inspection report. I think it is a really, really good thing to do there.
Many, many homes out there listed today that are so desirable that there is still a possibility the buyer will not even have the opportunity to do a home inspection or to ask for repairs. And so if that's the case, you might be wondering why would CLE be willing to do this? My house is 20, uh, excuse me.
My house is 31 years old and um, there's a lot of things on a 31 year old house that I'm not aware of that probably need to be fixed. And I honestly believe that a home that is inspected pre-listing is more valuable than a home that has not been pre inspected with a lot of the repairs already made. So I want you to think about for this for just a minute, if you are.
Buyer and you go take a look at a house and they have a full report that shows when an inspection was done in photos and descriptions of what's wrong. Even if that report discloses some things that the buyer would not rather know the buyer, probably the buyer more than likely. Would be more comfortable and would feel more safe and secure moving forward with your home.
I did a little experiment one time and gave packets of information to people and people who were not detailed people, and this is really weird. I gave a little packet, a thin packet or a thick packet. And the ones I gave a thick packet to, they tended to believe me and trust me more than the ones I gave the little skinny packet to.
And I think if you help and provide somebody with enough details to really help them make the right decision for them, I think you give them a sense of comfort. I think you give them a sense of safety and they're much more likely to be willing to move forward. Yes, I would do a pre-listing inspection. I would do the repairs.
I would do a follow-up inspection before I list my home, because it's what I'm going to do, and I will do that in the next couple of weeks. This segment of show is brought to you by the law firm of Oley and Sohan. They're a full service law firm, a 26 offices throughout Metro Atlanta. They specialize in residential real estate closings, home purchases, refinance, closings, corporate relocation, real estate, contract review, and title insurance matters.
They can be reached by calling 7 7 0 4 9 7 0 0 0 0 7 7 0 4 9 7 oh, excuse me, I just gave you my number. 7 7 0 4 9 7 1 8 8 0
7 7 0 4 9 7 1 8 8 0. That's not the first time I've done that. On this show, my phone number seven seven oh four nine seven zero zero zero. If you're looking to sell your home anytime in the next six months, we believe that Modern Traditions Realty Group at Remax Center, that we can sell your house for $28,000 more than your neighbor.
If you are listening and you think, yeah, right, I say, try me. I say try me. Go to go gaddis radio.com, click on sell for $28,000, more and less than 30 seconds. You can put in some information and be gone, and I will look at your situation myself and see if I can come up with a plan to help you sell your house for $28,000 more than your neighbor.
We've got a couple of special weapons. The way we do valuations is, Comp is a customized maximum value plan, not necessarily a C M A and up to $15,000 in allowance to make improvements to your home. We're gonna take a quick break When we come back in our neighborhood, spotlight River Shire and Lawrenceville will be featured also, exterior parts of a home.
Would you recognize these common terms and how to get your home ready for the spring market? Stick with us. We'll be.