Higher Value Walton Resale Contracts Surpass 2019

This past week, Week 32, produced another strong showing yielding 137 YTD binding contracts in the Walton High School resale single family detached $600k+ market.

Although 2020 took the early lead over last year, the economic shutdown prompted buyers and sellers to pause and 2020 fell behind last year YTD totals beginning Week #17, and continued to trail until last week. While this “recovery” is great news for the higher value Walton market the boasting needs to be tempered a bit as 2018 offers another benchmark to monitor.

 202020192018201720162015
YTD Wk 321371321431029790

Weekly binding agreement charts for 2015 – 2019 are available on the Covid-19 Stats page of the Miller Group Realty website.

While the good news is that the number of binding contracts is up, the bad news is that this activity is one factor contributing to the low (but not historically low) number of Active Listings. The following chart compares the month of August over the past 11 years. One answer to the shortage is to have more homeowners decide now is the time to make a move.

Contact Brady to discuss moving plans in the Walton High School and greater East Cobb area. His exclusive focus on the higher value Walton homes may well qualify him to best advise new clients.

Is The Walton High School Housing Market Immune?

Is the Walton High School housing market immune to COVID-19? Given the charts below, it would seem that it contracted the virus in March, developed the antibodies and is now on its way to recovering.

Miller Group Realty (MGR) has been tracking since March the weekly higher value ($600,000+) binding contract activity in four elementary schools (East Side, Mt Bethel, Sope Creek, Timber Ridge) that feed Walton. Continue reading “Is The Walton High School Housing Market Immune?”

“Too Many To List”

“Too Many To List” is often used to describe a home for sale with lots of updates, improvements, amenities, etc. Why not include them?

Is the seller in a rush to get the house on the market?

Is it a strategy to get prospective buyers in the house to see all the wonderful amenities?

Is it a tactic to get prospective buyers in the house when in reality it offers very little?

Is the listing agent:

  • too busy to prepare comprehensive marketing,
  • receiving minimal compensation and can’t justify the time,
  • too new to the business,
  • putting a higher priority on photos than words,
  • planning to revise the information at a later date, or perhaps,
  • just not feeling up to the effort at the moment?

Limited marketing is completely contrary to the MGR Best Home Marketing approach to selling. After all, the client is paying a pretty penny for services, it has a direct bearing on the seller’s ability to net more at closing in less time, and it is a reflection on the agent’s reputation.

Today, FMLS offers over 1,700 characters to describe a property and that is in addition to being able to attach multiple documents to the listing for agents to access. It would seem that if a listing agent wanted to describe all the amenities there is likely a way to get it done within the MLS system.

MGR takes marketing to a higher level by creating single property websites which allows almost limitless marketing to be created and is directly accessible to agents as well as prospective buyers.

Don’t hesitate to contact Brady to discuss your situation and/or have questions about the Miller Group Realty Best Home Marketing approach to selling.

 

Cobb County Property Assessment

Cobb county property assessment notices are in the mail. Are they wanting more than their fair share?

Remember that any written appeal must be made no later than 45 days after the date of the notice. These important dates are listed on the notice.

The Cobb County Tax Assessor offers a quick overview via this video.

Contact Brady if you would like to discuss the county’s “appraisal” value of your Walton High School home.

Announcing – WaltonStats.com

WaltonStats.com is the easy to remember and the most direct way to obtain monthly and quarterly Walton High School housing market stats for single family detached resale listings priced over $600,000 in the four elementary schools of East Side, Mount Bethel, Sope Creek and Timber Ridge. This level of detail is possible because it represents the exclusive focus of Miller Group Realty (MGR). Continue reading “Announcing – WaltonStats.com”

What’s Real in Real Estate?

What’s reality?

A higher value sale in the Miller Group Realty (MGR) target market was recently recorded. The MLS indicates it went under contract in only 11 days at 100% of the asking price. That’s pretty remarkable given the near shut-down of the housing market beginning mid-March due to the Covid-19 virus.

Detailed research, however, reveals a different story; i.e., the property had actually been on/off the market four times over the past 11 months, required 247 days to go under contract, and finally sold for 80% of the original list price. Continue reading “What’s Real in Real Estate?”

Is Covid-19 Negatively Impacting the Walton High School Housing Market?

Is Covid-19 negatively impacting the Walton High School housing market? While using a larger market, such as the greater metro Atlanta area, would likely provide better insight the following is pertinent to those with higher value homes in Walton.

The following charts contrast the number of resale listings priced $600,000+ that went under contract the first 12 week of the year.

Using the Dow Jones Industry Average as a backdrop and frame of reference it appeared that the 2020 steady decline in the number of binding agreements was in sync with the financial market. Both peaked about Week 8, and then began to decline. Is there a connection?

2020 DJIA2020 Binding 3-21-20

It seemed so, until past year’s data was collected. Several recent years mimic to a degree the current trend while other years exhibited the seasonal crescendo one has come to expect from the early spring to early summer period.

2019 Binding 3-21-202018 Binding 3-21-202017 Binding 3-21-202016 Binding 3-21-202015 Binding 3-21-20

The Walton housing market provides a small data sample and therefore trends are difficult to detect. With that said, the number of binding contracts through the first 12 weeks of 2020 is well ahead of recent years. Will that pace continue?

I personally believe a slowdown has begun in the Walton area as well as across the country. There is just too much uncertainty surrounding the virus at the present to make any specific projections with a high level of confidence. Are we entering another “2008”? Time will tell. What I do believe to be certain is that anyone with a house currently on the market had better adjust their outlook (lower) if they want to reach the closing table in the next four to eight weeks.

Who You Gonna Call?

Who You Gonna Call? is that highly recognizable refrain in the Ghostbusters theme song when there’s something strange in your neighborhood.

While the circumstances are hopefully different, the very same question arises when one is considering the sale of their home. Continue reading “Who You Gonna Call?”

Bloom or Bug?

Bloom or bug? What gets you thinking about making a move?

Blooms are about to appear with spring just around the corner. We don’t need a calendar to know it. Our eyes and nose tell us. Warmer weather. More sunshine. Greener grass. Homeowners transform into amateur gardeners. And perennials, shrubs and trees show us with new growth out of the ground or on old wood, and, yes, shortly thereafter blooms. Visual images and sense of smell are powerful motivators.

The bug in this case is not the insect but the emotion and mindset that prompts one to begin a search online, visit an Open House, drive neighborhoods, converse with friends, pause social media feeds displaying new construction, peruse a luxury home magazine, tune-in a DIY program, or swear off that home repair budget buster?

The arrival of spring and early summer drives activity in the metro Atlanta area. This graph of 2019 is similarly repeated year after year. The seasonal trend is pretty consistent.

2019 Walton Resale New Listings By Month

Miller Group Realty has an exclusive focus on this market. Contract Brady to discuss your plans.

Walton High School Real Estate Market

Although serving the East Cobb and fringe areas generally, the area of concentration and specialization for Miller Group Realty (MGR) is the higher value single family detached Walton High School resale market in the four elementary schools of East Side, Mount Bethel, Sope Creek and Timber Ridge.

It is this dedication to such a finite portion of the housing market that drives the generation of the Quarterly Market Update and the Monthly Stats by elementary school and price range, all of which can be viewed online.

Continue reading “Walton High School Real Estate Market”