-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/ScwCR
Welcome back to another week's edition of Go Gadi Real Estate Radio, right here on AM nine 20. The answer in Atlanta during this first segment of the show, the Metro Atlanta Residential Real Estate update for the last seven days, what is happening in the residential real estate market in metro Atlanta?
We wanna make sure you have your finger on the pulse of everything that's happening in our, something you should know about Metro Atlanta. We're featuring the varsity. Many of you are familiar with it, but do you know its history? Do you know? That it was not located where it is originally and it was also not called the varsity.
And then should you even bother making a low ball offer on a home, on a listing in today's market? My name is CLE Gaddis. I am You are listening to Go Gaddis Real Estate Radio right here on AM nine 20. The answer. Our goal is to help listeners go from real estate novice to experts. So home selling and buying can be done with total confidence and without all the worry that is so typical with life's biggest investments.
We don't want you to learn anything at closing or after closing that you should have learned before, and whether you are planning to buy or sell or invest or even rent a place anywhere in Metro Atlanta, my suggestion is that. Call us first. Modern Traditions Realty Group, 7 7 0 4 9 7 0 0 0 0. Also, don't forget, it is easy to get in touch with me.
Just go to go gadi radio.com, G O G A D D I S radio.com. You can ask questions, you can make comments, you can push back if you want to. You can ask questions. By the way, we'll answer on the air or off the air, however you wanna. You can share your ideas with us. You can also request your neighborhood Be featured in our neighborhood Spotlight, coming up in the fourth segment of this show, and you can subscribe to our podcast.
Why would you wanna be a podcast subscriber? Well, if you want the latest and greatest of everything that's happening real estate wise in metro Atlanta, I don't believe there is a better source than right here. Let's jump into our metro Atlanta residential real estate update for the last seven days.
There were 1,605 new listings. There were 1,454 homes that went under contract. That's a difference of about 150, which means we had 50 more homes listed than actually one under contract. That's a good thing for buyers. Not always a good thing for sellers, but a good thing for buyers. We had 1023 closings for the week starting to pick up.
You'll see those numbers get up to 2200, 2500, 2600 per week as we move into the stronger selling seasons. And finally, there were 1,169 homes in Metro Atlanta that were currently listed in the listing service that had an adjustment, a downward adjustment. , their sales price, their list price. So let's think about this.
Lots of new listings coming on the market, 1600 last week. Plenty of homes going under contract, 1500 in the last seven days. That's a robust market. Still moving in the right direction is certainly for late February. January and February Tend to be the two slower months of the year, not. Bad months, but maybe there'll be five or 6% of the sales for the year instead of what would be on average 8.8% and in the stronger months would be somewhere around 10%, June, July, may, June, July.
But what we also know is there's 1,169 home sellers who have their home listed, who decided they might be a little more motivated in the prior week. If you are looking to buy a home in metro. And you are not working with an agent who is helping you search by those homes that have those price decreases, by those homes that have that adjustment where the seller raises their hand and says, Hey, hey you.
I might be more interested in negotiating with you in good faith this week. Than I was last week. So whether you're a seller, plenty of opportunities for you in the market, whether you are a buyer, also plenty of opportunities for you in the market. If you've just joined us, you're listening to Go Gaddis Real Estate Radio right here on AM nine 20.
The Answer. I'm Cleve Gaddis, in addition to being the host of this show and been on the radio in Metro Atlanta for about eight years, and I absolutely love it. I am also a full-time real estate agent and broker with a team full of. Helping, helping buyers, sellers, investors, and landlords make the best decisions whenever possible.
When buying, selling, or investing anywhere in metro Atlanta, you might already have a preference of who you'd like to work with in your real estate transaction, and if that's the case, I totally respect that, but if you were open to interviewing someone else, another firm to see whether or not we might be able to offer you more, or something different, or something that might fit you.
Then your average agent in the market, just call 7 7 0 4 9 7 0 0 0 0 or go to go gadi radio.com in our, something you should know about Metro Atlanta segment. And each week we pick one specific Metro, Atlanta Landmark or event or community or whatever it might be to help you as a listener know more about the great city in which you live.
We. Or we don't believe. We know that most people who live in metro Atlanta are not from Metro Atlanta, and so many don't have the benefits of learning All of the things that I've been able to learn over my 54 years, and I didn't live in Atlanta for the full 54 years, but let's call it 45 years. I've lived here in metro Atlanta and I've gotten to experience so many great things, and I just love Atlanta as I travel around the.
I am an ambassador for Atlanta. I wish we could work on our traffic a little bit more, but other than that, I absolutely love Atlanta. The Varsity is a restaurant chain in Atlanta, Georgia, the main branch of the chain. It was the largest drive-in fast food restaurant in the world. Taking up two city blocks and can accommodate.
Listen to this. 800 diners all at one time. 800 diners all at one time. Originally, it wasn't called a varsity. Originally it was named the Yellow Jacket. It was established in 1928 at the corner of Lucky Street and Hemphill Avenue in Midtown Atlanta. It's founder Frank Gordy of Thomaston, Georgia, who was a graduate of Reinhardt University, briefly attended the Georgia Institute of Technology, Georgia Tech, and dropped out in 1925.
The business grew. Gordy was forced to move the restaurant to its current location, 61 North Avenue. To accommodate the crowds. The present structure now covers two city blocks. It was here that the name was changed to the varsity reflecting Frank Gordy's desire to expand other, other college campuses.
Been to the one in Athens many, many times. During the drive-in era, the varsity began as tur curbside service, uh, which ended in 2020. The current location in Atlanta is now adjacent to the downtown connectors interchange and North Avenue. It is the largest drive-in in the world. The Varsity Atlanta location serves as many as 25,000 people per day on a Georgia Tech game day.
This number swells way above a normal day, and the amount of food served daily is mind boggling. Each day, they sell three miles of hotdogs, 300 gallons of homemade chili, a ton of onion. , a ton of onion rings, and I might have eaten some of that ton myself. 2,500 pounds of potatoes and 5,000 fruit turnovers, and believe it or not, more Coca-Cola than any other restaurant in the world.
If you wanna learn more about the varsity, go to the go to Google and type in the varsity, and if you've never been there, it is something that you absolutely, positively must. This segment of the show is brought to you by John Birchfield and Capital City Home Loans. John makes it his mission to guide each home buyer step by step through the entire loan process so they are educated and confident in the mortgage options available.
He really wants you to just be able to make the best decisions along the way. He can be reached by calling 6 7 8 2 2 6 7 8 8 7. Again, 6 7 8 2 2 6 7 8 8 7. John Birchfield Capital City Home Loans. He is my preferred mortgage. If you're looking to sell your home anytime in the next six months, we believe we can sell your home for $28,000 more than your neighbor sold his or her home for.
If you don't believe me, I say try me. Go to go ga us radio.com, G O G A D D I S radio.com. Click on sale for $28,000 more. Put in just a little bit of information. It won't take you 30 seconds to put it in there. And if you're gonna sell your Metro Atlanta home, please make sure you talk to us before you move forward with anybody because we.
We can sell your home for $28,000 more than your neighbors sold their home for, and we want you to give us a try. If you bought your home last year, you definitely need to make sure that you file your homestead exemption. If you don't remember how to do that, then just go to go ga us radio.com. I'm going there right now and when you get to go gaddi radio.com, you will be able to click on a link at the top of the page that says Homestead Exemption.
When you take, when you click on that link, it will take you to another page that will show you exactly how to apply for Homestead exemption and all of the counties in metro Atlanta go to go ga us radio.com. Click on Homestead exemption. It'll take you straight to the page that has all of the information you could possibly.
Are you currently trying to buy a home and you're concerned that if you make a low offer, it may be rejected or maybe you will frustrate a seller and they won't want to respond to you? Stephanie in Atlanta. Send in a listener question said, it seems that homes are staying on the market longer than they were last year.
Is it worth making an offer on a home, even if you're going in below the list price? The answer is yes. And Stephanie, the answer is always yes. Now, I know a couple of years ago, and you're probably asking this question because a couple of years ago, it might very well have been a waste of time, but I don't really ever consider it to be a waste of time.
If you have a. and there is a possibility that this home would work for you, but it needs to be at a little bit lower price in order for it to make sense for you. I think you owe it to yourself to submit an offer and see what the seller says. What's the worst thing they can say? Nothing. The worst thing they can say is nothing.
Now, if you're going to go in low, let's just say you're looking at a house that's 500,000, and let's say you wanna make an offer at 440,000. I would try to give the seller some other things that they can look at to really to make sure that your offer gets the notice or the consideration that it should from the seller, for example, might offer to close whenever it's convenient for the seller, I might offer to put up 20 or $25,000 worth of un earnest money instead of four or five.
Or $6,000 in earnest money, I might make sure that my pre-approval letter is very specific and it states my income as an income and employment have been verified. It states my credit has been pulled and that it has the money I need for down payment has also been verified. So I would submit an offer on anything at any price if it was something that I thought might work out for me and I suggest, Stephanie, you do the same thing.
Any questions on that? 7 7 0 4 9 7 0 0 0 0. We're gonna take a quick break when we come back. What is a D S C R loan and how could they help you become a real estate investor easier than you thought. Stick with us. We've got that subject and more we'll be back.