-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/6DfgB
Welcome back to another week's edition of Go Gaddis Real Estate Radio. We are so glad. That you decided to join us today. Hey, don't forget Metro Atlanta, that if you bought a home anytime in 2022, now is the time to file for your homestead exemption. Now, some of you were probably way ahead of the game and you filed the paperwork or you went online and filed the form for homestead exemption in Homestead exhibition.
Probably reduce your taxes to the tune of 10 percent-ish. I'm thinking, uh, in most areas of metro Atlanta. But for those of you. Not filed home exem homestead exemption and you closed on your home last year, I believe you have until March the 15th to do that. And it will reduce your taxes and once you file for homestead exemption, you don't have to file for it again.
It will reduce your taxes every single year for the rest of the time you own the home. And I love that in this particular. We've got the Metro Atlanta Residential real Estate update for the last seven days and are something you should know about Metro Atlanta. We're featuring a hospital and it's the first time we've done that.
The Shepherd Center in Atlanta and IS amendment is an amendment to survive closing a good idea, meaning if you do an amendment of something that should be done after closing. Is that really a good idea? So don't forget, if you want to connect, it is easy to connect with us. You can go to go GA us radio dot.
You can ask questions, we'll answer on air or off air. Make comments. You can push back, challenge anything we say. Share your ideas. Request your neighborhood. Be featured in our neighborhood Spotlight, which is one of my favorite segments of the show, and you can subscribe to our podcast. Again, my name is Cleve Gaddis.
And you were listening to Go Gaddis Real Estate Radio, where we 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 typical with life's biggest investments. We don't want you to learn anything at closing or after that.
You should have learned before and again, go to Go Gaddis radio or you can call 7 7 0 4 9 7 0 0 0 0 to communicate with us. My family has been in real. In Metro Atlantis for 37 years, I've been in real estate for now working on 23 full-time in real estate for 21 years. We live, eat, breathe, and sleep real estate, and it's just the way it is.
Let's jump into our seven day real estate update. In the last seven days, there were 1,320 new listings. Now, I don't know if you remember, but. For the last year or so, we had more homes go under contract pretty much every week, Atlanta, pretty much every single week than we had new listings. And guess what?
It happened again, and it happened for the first time since probably October. I have to go look and see first time in a long time. But 1,320 new listings came on the market, 1,790. Homes winner contract for the week. That means almost 500, 450 homes, 470 more homes were put under contract by buyers than were actually listed for that current week, there were 963 closings, which is kind of slow, but don't worry, you'll continue to see that grow and grow over time, and what I think is the most significant number of them all, there were 1,283.
1,283 homes that had a price decreased during the last seven days, 1,283 homes. What does that mean? That means there is opportunity for sellers who want to list homes. There's opportunity for buyers who wanna buy homes. I will tell you that I believe. That the opportunity for buyers will be better over the next four to six months than it will be in the second half of the year.
And the reason I believe that is because you cannot hold buyers back from buying houses, even if the interest rates are higher. And what's gonna happen is there is a large number of buyers. Sitting on the fence in metro Atlanta waiting to buy a home, waiting for interest rates. And what happens is when a certain percentage of those decide, you know what, it's time to buy.
I'm gonna get off the fence, I'm gonna get in the game. Even if rates are in the high fives or low sixes, it makes sense for me to buy a home because in many cases, in fact, in all cases that I've ever analyzed, you know, it made more sense for someone to buy a home than to rent a home. Now, I'm not saying if you're gonna live there just a short period of time, it makes more sense to buy, cuz that's a lot of exposure.
But if you're gonna live there for an extended period of time, it may make more sense for you to buy than for you to rent. So, Reality is there's a lot of good stuff going on in the market, and I'm telling you, um, I bought a big brokerage in 2006 and by late 2006 I could tell something was wrong, just based on what I was hearing in the market, how people were talking about the market, the level of stress.
It was in the market, and I am starting to see that go away. I'll tell you, as a seller, you need to be serious about selling your house. I went and looked at a home today, and the reality is beautiful home, great location should have been an easy sale. The problem is, is the agent did not get the seller to do what they needed to do to really make the home appealing to everybody.
And so your home must be appealing, it must be priced correctly. You must do all the things that you needed to do before we got into this crazy seller's market. In order to, uh, get it sold for buyers, I think there's a good six month window where if you're looking to buy a home, there are increased, um, likelihood of you being the only buyer at the table so you're not negotiating against 20 or 21 other people.
We met with some buyers over the weekend, and I, I'm gonna tell you that these buyers tried to buy a home in 2020 and 2021, or late 2020 and 2021, and, and they have P T S D, they. So much stress over being, um, just manhandled and, and not treated correctly or with respect by the market, and they are gun shy, but those people will not stay gun shy forever.
Those people who wanna move that desire to move very rarely goes away. And they will do what they need to do in order to move forward with their housing plans, regardless of what that looks like. If you've just joined us, you're listening to Go Gaddis Real Estate Radio right here on AM nine 20. I'm Cleve Gaddis.
In addition to being the host of this radio show every single week on the radio in Metro Atlanta for I believe a little over eight years, which is very exciting. Uh, I am a full-time real estate broker with a team full of agents helping buyer sellers, investors, and landlords all throughout Metro Atlanta.
Make the best decisions when buying, selling, or investing in real estate anywhere. You can find us at Modern Traditions Realty Group at Remax Center, and we would love to take care of, you could also call 7 7 0 4 9 7 0 0 0 0 in our, something you should know about Metro Atlanta. We're featuring the Shepherd Center in Atlanta.
It's our nationally. Patient rehabilitation center. I call it the Shepherd Spine Center. I don't know if that's what it was called when I grew up, but that's what I always called it. I remember I would, I would love to say running the Peachtree Road race, but I didn't run it. I was walking the Peachtree Road race, and I remember going by the shepherd.
Uh, center and having the people in their wheelchairs who are being rehabil rehabilitated out there cheering. And I thought that was just the coolest thing. I think we are fortunate to have the Shepherd Center located here in metro Atlanta. It's a private not-for-profit hospital, which specializes in medical treatment, research, and rehabilitation for people with spinal cord injury, brain injury, multiple, multiple sclerosis, spine and chronic pain, and.
Neuromuscular conditions. It was founded in 1975. The Shepherd Center is ranked by US nude in US News and World Report among the top 10 rehabilitation hospitals in the nation. The patient rehabilitation programs are designed to offer an intense focus on recovery and lifelong wellness. I believe. You know, if you have a spine problem, uh, I believe that the Shepherd Center is the best place you can go in the Southeast.
It is 152 bed hospital, uh, on 2.7 acres at Peachtree in Collier Road. It is right there near Piedmont Hospital as well. Uh, in, in 2000, uh, excuse me, in 2018, they bought 2.7 additional acres. Uh, the Shepherd Center has grown from a six bed rehab center into a world where now at 152 bed hospital that treats more than listen to this 743 inpatients, 277 day program patients, and more than seventy one hundred and sixty one outpatients.
Each year for more than 46,000 visits. The Shepherd Center is now eyeing the fall of 2024 for a completion of its 160 room residential tower that will nearly double its existing housing capacity. One of just two hospitals in the US that focuses on treatment and rehabilitation for people with spinal cord, brain injuries, multiple sclerosis, spine, chronic pain, all the stuff we talked about before.
What a wonderful jewel The Shepherd Center is to Metro Atlanta. We've got a listener question, Margot and Johns Creek says, or writes in, are you anxious to get, excuse me. She writes in. We are scheduled to close this month, but the seller hasn't finished the repairs. Their agent is suggesting we do an amendment for the seller to make the repairs after closing.
Is that a good idea? Um, I shouldn't shout on the radio, but I wanna say no. No, that is not a good idea. Parties need to take care of their obligations prior to closing. Now, uh, I would imagine that if you were eager to get into your home and the seller hadn't completed repairs, that you might be influenced to allow them to put together an amendment and do things after closing.
And by the way, you might get forced into doing that, but I don't think that is really a good idea. Uh, I think that you. Be better off saying it provided that you, your, your mortgage rate lock is not gonna expire, but hey, we'll extend the closing for a few days and let you get the repairs done. We're really not comfortable, um, moving forward if you haven't done the repairs and.
If you did have to do an amendment to do repairs after closing, you need to state what needs to be done, when it needs to be done by, and what happens if it is not completed. Now, I'm not an attorney, so you should have an attorney or someone who knows write this for you, but it would be seller agrees to reseal the back deck, work to be completed on or before February the 21st.
If the work is not completed, seller agrees to pay two buyer. $2,700, you know, within 24 hours, you'd still have to take some effort to go collect that, but you gotta be specific about what's gonna be done, when's it gonna be done by, and what happens if it is not done by. But I would ask myself, why has the work not been done in the first place?
Meaning if the seller had three weeks to get the work done and you give the seller another week, is that gonna really make any difference? In some cases, sellers are not doing what they need to do in order to get the work done. So Margot and Johns Creek, my answer is no. If you wanna sell your home anytime in the next six months, my suggestion is we can sell the house for $28,000 more than your neighbor.
If you wanna find out more, go to go ga us radio.com, click on sell for $28,000 more. Put in a little information. And I will analyze your specific situation and tell you how much more than your neighbors sold their home. For that, I think I can sell your home for. We're gonna take a quick break. When we come back, we've got one of our team agents who is gonna discuss his first few years in real estate to help maybe you learn whether or not this is a career change you should consider.
Stick with us. We'll be back.