Decisions Decisions

Deciding to buy or sell can be a spontaneous act or one well planned in advance, and in either scenario there is no shortage of choices to be made.

The 2020 real estate market has been unlike any other when it comes to the impact of the pandemic on the seasonal trends. As spring unfolded, which traditionally escalates the activity, buyers faced the question of whether or not to venture out to look and would-be sellers were reluctant to go on the market given all the health concerns and uncertainties.

The unusual slowdown began Week 14, hit the low point Week 21, and then shifted into high gear Week 35. The downward trend that normally develops in late summer has not yet materialized even as we approach the holidays.

In the midst of the pandemic the path forward was as clear as driving through a torrential rain limiting visibility of the cars ahead and even the center stripe.

In hindsight, late May (instead of usual early spring) would have been a good time to list a home for sale, and still is, as inventory remains extraordinarily low compared to the past 10 years.

On the flip side, buyers had similar concerns; e.g., is it safe to venture out to see vacant as well as occupied homes, what about near term and long term employment disruptions? Buyers that waited for more certain times now find most of the good stuff gone and less desirable or possibly overpriced homes remain.

Working with a Realtor with local market knowledge has always been a good idea, for both buyers and sellers.

Given the limited inventory a Realtor specializing in a very specific area may bring additional value to buyers as the need to discover off market property escalates. And, the break with the usual market cycle may lead homeowners who desire to make a move to hire a Realtor with a particular knowledge of their area and price range to gain the needed confidence and comfort needed to proceed.

Brady Miller has a very specific audience and client-centric business model.

The audience is the single family detached residential resales, generally priced $600,000+, in four Elementary Schools of East Side, Mount Bethel, Sope Creek and Timber Ridge that feed Dickerson and Dodgen Middle Schools and in turn Walton High School.

  • For buyers, the goal is help secure the deal or ideal home on the first attempt in the least amount of time.
  • For sellers, the objective is to prepare them and position the property such they have the best opportunity to net more in less time.

The Miller Group Realty (MGR) business model is one that places a premium on client interest ahead of transaction volume and pursuing a metro-wide practice involving condos, townhomes, multi-family, land, lots, commercial property and leasing/rentals as a generalist. There are no distractions associated with time intensive new construction listings or conflicts arising from the buying, renovating, and selling of investment property for self interest.

Having an exclusive focus on a specific audience, working were he and his family lives, and engaging fewer (2 or 3) clients at a time translates into a better overall experience.

Thanks to Ashley McBroom Photography for this awesome family treasure!

Contact Brady without obligation to discuss your particular situation, and visit http://www.WaltonStats.com to view weekly, monthly, and quarterly MGR curated stats that include higher value price ranges down to the elementary school level.

Walton High School Higher Value Market

A couple of interesting points to make after collecting and viewing the most recent Walton monthly data for single family detached resales.

The normal shape of the line chart representing the number of Walton Active Listings in all price ranges changed in 2020. The typical cyclical trend is represented by a steep increase early in the year, peaking early to mid summer, and then slowly declining through the remainder of the year. This year’s activity still had the mid-year bell shaped curve one would expect however it never reached the early summer highs of previous years. The later half of 2020 thus far has shown the same general rate of decline although reaching a low not seen over the past four years. The same narrative applies to the higher value ($600k+) Walton market.

New construction Active Listings (that includes under construction and to be built) numbers were fairly consistent from Oct ’16 through Oct ’19. Since then the number of Active Listings have been declining.

Comparing the number of Active Listings (inventory) for the month of October, going back to 2015, it appears that seller’s of higher value ($600k+) homes had a more difficult time attracting buyers. Specifically, about 65% of all Active Listings in Oct ’20 were over $600k compared to the fairly consistent 45% experienced in the previous five Octobers.

Where to look if planning to make a Walton purchase in East Side, Mount Bethel, Sope Creek or Timber Ridge:

  • under $600k in Mount Bethel and East Side
  • $600s in East Side and Sope Creek
  • $700s in Mount Bethel and Sope Creek
  • $800s – $1m in East Side and Sope Creek
  • $1m – $1.5m in East Side and Sope Creek
  • over $1.5m in Sope Creek

Buyers not finding their ideal Walton home should approach Brady to discuss their situation. Perhaps his exclusive hyperlocal focus can best prepare the buyer to make a successful offer on a new listing as well as to identify potential off market properties.

A Very Active Walton Housing Market

The featured image charts the cumulative number of Walton High School resale binding contracts in East Side, Mt Bethel, Sope Creek and Timber Ridge priced over $600k through Week 43 (ending Oct 23rd for this year) for years 2015 -2020.

Which line represents 2020?

Hint…2020 is like The Little Engine That Could, the black line, steadily out performing previous years. Few would have forecasted this back in March and April when the pandemic was increasingly spreading, businesses were closing and unemployment filings began to skyrocket.

Buyers have little to choose from the remaining Active Listings. And, homeowners with an Active Listing have to be asking themselves, “Why is my house not selling?”.

The following quantifies the feelings. Given the above criteria, the average Active Listing FMLS Total Days On Market is 129. However, and in comparison, MGR research reveals that homeowners first went public with their sales effort almost 250 days on average (after removing the top and bottom 10% of the Active Listings when ranked by TDOM).

See these and other weekly tracking illustrations by clicking here. And contact Brady to discuss the particulars of your ideal Walton or East Cobb home search, or to discuss the prospects of selling in the current market environment.

Walton High School Inventory Low (!?)

Is “Walton High School Inventory Low” a statement or question?

I heard it again today, the “it” being that metro Atlanta inventory is low. While that relative fact is important to some, it does not really reflect the MGR market; i.e., the Walton single family detached resales over $600k in East Side, Mount Bethel, Sope Creek and Timber Ridge. The following charts and table illustrate the point. Continue reading “Walton High School Inventory Low (!?)”

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?”

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?”

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?”

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”

Is This Your Home Selling Experience?

Is this your home selling experience, or what you imagine it to be?

Chaos. Uncertainty. Out of control. Beat down, or up. Bruised and abused. Neighbors watching intently. Turning on a dime to accommodate last minute showings. Falling over oneself to keep the house constantly showroom ready. Continue reading “Is This Your Home Selling Experience?”