Hello, and Happy Friday!I hope that you are all doing well! The real estate market is now officially stronger than pre-Corona days!!! The only reason I am not officially calling my micro-Real Estate market the official winner versus Corona is because the Covid cases have seen an increase and there is a very small chance of another shelter in place order. Plus it would be a little presumptuous of me to be the first one to say so… Stay tuned next month!
Sellers are feeling less afraid of letting strangers in their homes and are more confident that selling at the peak (thus far) is the way to go. We are therefore seeing an increase in listings hitting the market! This is mostly in part due to listing agents taking the necessary precautions to mandate that masks, shoe covers and gloves be worn (which I provide for my listings), and that potential buyers wash their hands as soon as they come in then put new gloves on. Agents are also keeping all lights on and doors open to help avoid surface contact.
Even though more and more listings are hitting the market every day, inventory levels are even lower than they were one, two or three months ago!! We are under 2000 active listings in Cobb county … Unbelievable!
Buyer confidence is back to 100%+ (all time low interest rates certainly help) and with more and more people working from home, home offices are now a MUST. I have some clients that need a minimum of 5 bedrooms so that each spouse can have their own home office. Bigger wooded lots for increased privacy is also a very nice sizzle feature; but the latest trend which surprised me the most is that buyers are now targeting closed floor plans!!
With the entire family being at home 24/7, people are eating in a lot more so cooking and eating at the breakfast table is back to being the new norm. Cooking noises, eating and talking are distractions to other family members focusing on studying, working or zoom calls and these are hard to mitigate on a completely open floor plan. Another reason closed floor plans are becoming more popular is that people want more privacy and personal space from other family members!!! I’m going to have to plead the 5th as to whether or not I agree with that one…
Luxury housing has by far seen the biggest boost in sales. People want big houses in great school districts! I have clients with children who will be attending school virtually next year. They will be transitioning from private school to public schools that score a 9 or 10 out of 10 since those schools in some instances will be rolling out a better e-curriculum than most private schools! This creates significant family savings which can now be allocated towards a bigger mortgage and/or house improvements.
Along those lines, there is over a 6 month waiting list for in-ground pools (most public pools are closed and people are concerned about the ones that are opened)! I have helped several clients get in touch with contractors who will assemble an above ground pool for them and build a deck around it so that they can enjoy it this summer. The cost is about 50-75% less!
June was my second best month EVER since I got into real estate! I listed a house last week and had 38 showings in 48 hours with 6 offers! We went under contract significantly above asking. If you are considering selling anytime soon; CALL ME!!!
Working with buyers certainly requires more patience but I am excellent at winning multiple offer scenarios with my proven Lemoine Negotiating Strategies! I don’t want to divulge all my secrets, but speed is certainly a key criteria…
With the heat and humidity I have had to cut back my beard – otherwise it is just too much with the addition of a mask on. Someone needs to invent masks that you keep in the freezer for the summer time; I would buy half a dozen of those and keep a cooler in my car!
I hope that you all have an amazing weekend!!!