Push-Button Home Valuations

Push-button home valuation sites and ads are becoming commonplace, and consumers are becoming wise to the tactics  and agenda of those offering the “answer” as a means of capturing contact information for lead generation purposes. (NOTE: Clicking through this post will not generate a landing page or request for any registration.)

Consumers are also learning that the accuracy of these valuations range from close to laughable. The reason the in-the-sky valuations can’t compete with on-the-ground professionals is the lack of accurate information about the subject property and those being considered as comparable. Every recent, nearby sale is NOT a comparable.

Relying on broad averages (whether metro Atlanta, Cobb county or ZIP code for Avg Sales Price, Days On Market, Absorption Rate, etc) is inadequate when it comes to making move/stay decisions because they disguise reality, which is why we track activity at the elementary school level within smaller incremental price ranges. Viewing the activity at this detail sheds light on challenge of correctly projecting the sales price for a given subject property.

This bar chart demonstrates how one can be misguided. While it targets a subset of the popular Walton High School district and applicable price range, it displays a yearly average that removes the monthly (and perhaps seasonal or market shift) variations and provides what appears to be a very consistent metric from which to project an outcome.

Stats 9-30-17 Annual Absorption Rate Walton - $600k - $699k

The following adds an additional layer of detail (monthly stats) that depicts the challenge beset the Realtor in setting the right expectations for a prospective client.

Stats 9-30-17 Absorption Rate Walton - $600k - $699k

We welcome calls from prospective sellers of higher value (generally $600,000+) Walton High School homes in the East Side, Mount Bethel, Sope Creek and Timber Ridge Elementary Schools who want credible information upon which to make decisions.

Why this narrow slice of the market? Because this is the area in which we live, and our clients benefit most when we can exercise our Best Home Marketing approach to selling and also be hyperlocal. Concentrating on higher value homes removes the necessity for a transaction-bent business model. It also enables us to plan and execute strategies that are in the best interest of the seller and giving them a superior opportunity to net more at closing with less time on the market.

A visit to Miller Group Realty will reveal our dedication to the market in which live and some of the downhome stats that we monitor.

 

Walton 2Q17 Hyperlocal Market Update

Our 2Q17 Hyperlocal Market Update highlights activity for Walton homes in the East Side, Mount Bethel, Sope Creek and Timber Ridge Elementary Schools because this is where we live and clients benefit most when we can apply our Best Home Marketing approach to selling higher value property and be hyperlocal. Continue reading “Walton 2Q17 Hyperlocal Market Update”

Benefits of Pricing Correctly

There are many benefits to pricing correctly, two of which are less time on market and a higher sales price when compared to the original list price. Check out these charts for a great visual representation. Continue reading “Benefits of Pricing Correctly”

1Q Walton High School Stats – Avg Price

FMLS Stats 2015 2016 2017 Qty Avg Price Listings Walton

Although 2016 showed solid monthly gains over 2015 in terms of average sales price, 2017 average sales prices are somewhat mixed in comparison to 2016.

The gap between the monthly list price and sales price has narrowed in 2017 as the average list price has decreased as the average sales price has increased.