Strategies for Home Buyers: Making Strong Offers, Exploring Neighborhoods, and Plumbing Tips
-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/x5SrC
Welcome back to Go Gaddis Real Estate Radio. Did you get enough Barbie in the last segment? For those of you who missed it, Barb, the Barbie movie caused a worldwide paint shortage in the pink fluorescent paint that is used on the set. In this segment of the show, in our neighborhood Spotlight, we're featuring Aset.
In Peachtree Corners, which is in my old stomping ground. That is where I grew up in metro Atlanta. I went to Norcross High School. I drove right past the Aset subdivision, which was not there at the time, but I drove right past the Aset subdivision every single day. And we've got some tips for making your best offer on a home and how to get more value from your plumber's visit.
Have you ever had a plumber come out to fix something? And you don't know what was wrong, you don't know how it was fixed, and you don't know how to prevent, prevent whatever happened from happening again. Well, we can help you solve at least some of those problems. And don't forget, we want to connect with you.
We love connecting with our listeners. It's easy. Go to go get us radio.com. That's G O G A D D I S radio.com. You can ask questions, you can make comments, you can push back, you can share your ideas with. Us or share 'em with me so I can share 'em with everybody else. You can request your neighborhood be featured in our neighborhood spotlight just like a homeowner in Abset did, and you can subscribe to our podcast.
Without further ado, let's jump into our neighborhood spotlight on Abset. This is in Peachtree Corners, Georgia. It's a swim tennis neighborhood consisting of 218 homes. It's not far. From 2 85 and 85, it's located minutes from shopping and restaurants and entertainment. It's close to Peachtree Corners Town Center, which is five minutes.
His historic downtown Norcross, it's 10 minutes. It's five minutes to Pinkneyville Park, which is a huge 93 acre park. It's got, it's got a corporate pavilion, dog park, baseball, softball complex. Roller hockey rinks, skate area, pond, and multi-purpose trails. It's less than 10 minutes to West Gwinnett Aquatic Center, which is amazing.
It includes a competition pool, two giant water slides, a lazy river bubble beach spray bar. It's in a great, great location. As I said, that's my old stomping grounds. Uh, love for you to come take a look at it. If you are going north on Peachtree Industrial Boulevard, you will turn left onto South Old Peachtree Road and the neighborhood is on the right.
You use Aset Drive to, uh, enter. If you are, um, interested in what's been happening in the neighborhood, you know, each week, each week we pick one of these neighborhoods to call out. Specific changes. Critical changes to help you understand as a homeowner in the neighborhood, whether or not you have a particular advantage when it comes to selling a home.
We're gonna look back at the last three years. In 20 20 15, homes sold 218 homes. We would think there would be 15, 17, 18 homes sold about 7% on average of homes, and all subdivisions in Metro Atlanta sell every single year. Those 15 homes took an average of 35 days to sell. Not too far off of where we are today for the entire Atlanta market.
Average sales price $376,000 as a far cry above the 193,129. As we came out of the recession in 2012, went from a low of three 10 to a high of 4 46. In 2021, there were 12 homes that sold. Took an average of 23 days from listing the contract. Average sales price. I jumped $70,000 from 3 76 to 4 55 in one year, $70,000, jump in one year.
Low sales price, three 80 high sales price, 4 51 home sold for 1.2% more than their list price in 2021. In 2022, only eight home sold, which makes sense 'cause it was a lot less inventory on the market in 2022. Average sales price jumped another. Almost $40,000 went from 3 76 to 4 55 to 4 92 500. Those ranged from a low of 375,000 to a high of 575,000 homes in the neighborhood in 2022, sold for 4.3% more than they were listed for, again, I said 218, 220 homes in the neighborhood.
Uh, there currently is one home for sale. Listen to this list price. 7 79. We know the average sales price last year was 4 92 500. This one's 7 79. There are a few bigger properties in there, and I'm guessing this might be one of them. With the eight sales that took place in the last 12 months, it means we've got 1.5 months worth of inventory.
We don't have any inventory in the neighborhood that is down around that average sales price of the last year, but we probably got a nice one in there to look at. If we look at that value of 1 93, 129 average sales price in that neighborhood under 200,000 in 2012, 2022, 10 years later, home values have increased to almost 500,000.
So home values have increased 300,000 in the neighborhood in that timeframe, which means homeowner equity in the neighborhood has increased 65. $0.2 million. The elementary school is Berkeley Lake. The middle school is Duluth and the high school is Duluth. If you're the type of parent who doesn't want a monkey around with their kids' education or the school's effect on home values, you should get a School Chimp report.
It's easy. Go to go Gaddis radio.com. Go G A D D I S radio.com. Click on school chimp. Put in a little information. Choose the school you want to compare, and either another school you want to compare it to or just tell the system to compare it to all. Metro Atlanta. Atlanta high schools. Put in a little bit of information so it knows how to send the report to you.
Don't worry, we're not gonna spam you and a report, a customized report just for you will be emailed to you. It'll give you a ranking or a rating for the school that's proprietary. It's a great rating system. It'll give you all of the demographic information you're looking for, how old the homes are on average percentage of rental properties versus homeowner owned properties.
A lot of stuff you can't get. Anywhere else. It'll also give you the average educational attainment of a parent in the high school district, average household income, things like that. And then it'll give you all the real estate data you could possibly be looking for. It's easy. It is. Go gettis radio.com, click on school chimp.
Put in a little information. You'll be on and off site in 30 seconds. The report will be emailed to you. Give it two or three minutes. 'cause the report is customized for you, but it'll be emailed to you in two to three minutes. If you are searching for a home to purchase and you're not finding what you're looking for, it could be that you need to change where you're searching.
We recommend wherever you're searching, now you stop if you're not finding what you're looking for. And go to sure mls.com. SS u R E. mls.com. SS U R E M L s.com pulls listings from both listing services. You'll be in better shape if you go use that site. For those of you who have thought about real estate investing and maybe been hesitant to get into it, or you've just been curious, or maybe you're already a real estate investor, we've got two free webinars for you.
In the month of August, the webinar is called The Six Keys to Success in Real Estate Investing. It's a free webinar. I am hosting it. We'll do one on Saturday, August the 26th, beginning at 10 o'clock right after this show, and we'll do the second one on Wednesday, August the 30th, starting at 7:00 PM Each will be one hour.
The content. For each will be the same. You're welcome to attend one or both if you want to. My guess is the discussion will be slightly different because we'll have different people attending each one of those sessions. I don't expect there to be a huge group. Uh, eight 10 of my friends out there talking about real estate investing and I want to tell you that I'm going to be an open book.
I'm gonna answer your questions. Honestly, I don't have as much experience investing in residential real estate as a lot of people I know, but I've been investing since 1992. You know, the market is still competitive in many areas because, uh, the supply of homes for sale is still low and maybe that bidding war frenzy has gone away.
But there's still plenty of multiple offers, uh, that are taking place in today's market. We got, we received a question from Brandon in Lawrenceville. I. He says, I'm still interested in buying my first home. Can you give me a few things to consider to help put our best foot forward when making an offer on a home?
And if you work with Modern Traditions Realty Group, we will give you a document called Winning Strategies for Multiple Offer Situations. I'm not saying Brandon. That you can do everything that's on the list, but I am telling you, if you do everything that's on the list, you will win. It is amazing the success rate we have, um, you know, the success rate that we have, uh, in, in helping people win in multiple offer.
I. Situations. But I think number one, if you're trying to win in multiple offer situations and the house is listed by a realtor, you need to be working with a real estate agent. You need to make sure you got a very strong pre-approval or proof of funds or however you intend to pay for the home. You need to make a, a fair offer, but you need to make an offer that might even be more than fair, meaning make an offer that's high enough that if you lost the house.
You wouldn't beat yourself up over it. I think that's an important thing to do. And listen to your agent. We've got 20 steps to winning in multiple offer situations, increasing earnest money, cleaning up contingencies, things like that. If you want more information, go to go Gaddis radio.com. Go G A D ds radio.com.
We've all been there. In fact, I was there not too long ago in my house, the toilet. It's either overflowing or maybe you hear the drip, drip, drip drip in the wall or the shower drain is not well, may maybe draining. It's helpful to know what to do to prevent future issues, and in many cases, when we have a plumber come out, we don't ask any questions.
We got a. We received a listener question says, A plumber just left and we forgot to ask any questions. And so here's the things you need to remember. The next time you have a plumber come out. These are the questions. What is your assessment of the problem? What is it? What do you think caused it? What are the available solutions?
Meaning, do I have choices as to how it gets fixed? How long will the repair take? This is the most important one I think, which is how can I prevent similar issues in the future? And then is there anything else I should be aware of throughout my plumbing system? You could ask 'em to sort of do a plumbing inspection all over the house.
I know you might not be looking for additional items, but they might highlight potential concerns or offer maintenance suggestions or maybe address any questions you may have overlooked. I. Last time I had a plumber come out, they were actually installing something in the primary bathroom, which I sometimes still call the master bathroom.
And no, that's not political, politically correct, but sometimes I call it that and had 'em take a look at a couple of other things and um, I was able to figure out that I can put one of those instant hot water systems in my house. And can do it at a very reasonable price. So that's something I'm gonna wind up doing the next time the plumber comes out.
If you're looking to sell your home anytime in the next six months, we believe we can sell it for $28,000 more than your neighbor sold his or her her home for Go to go gaddis radio.com, click on sell for $28,000 more. That's it for this week's show. We appreciate you joining us. We'll be back, same time, same channel next week.
Talk to you then Atlanta. Have a great week.