Home Selling Tip: Hardwood Floors Make an Impression

image-2Hardwood flooring enhances the look of any room and creates a classic ambiance. Real estate agents agree that those homes hold their value better, sell faster and attract higher prices. Hardwood floors are always a draw. They impart warmth, depth and richness that can’t be matched by carpeting, tile or vinyl flooring.

The American Hardwood Information Center cites a national survey of real estate agents in which 99% of respondents agreed that restoring hardwood flooring in the home is one of the best long-term investments one can make. And 90% said these homes sell for more money.

An EPA study found that pesticides used in gardens and homes can gather on floors and other surfaces in the home. Wood floors greatly reduce the accumulation of such toxins by not trapping or harboring dust mites or molds like carpet.

Though wood floors will probably need to be refinished at some point, when properly taken care of they are much easier to maintain than other floor surfaces. Hardwood floors could make the difference between a sale or watching a potential buyer walk out the door.

The Power Of Pre-Qualification

 The spring market will see many desirable homes get multiple offers and contracted quickly. Sellers will be evaluating their options to choose which bidder is selected to buy the property. They often want to limit their risks. There are several components of the Purchase and Sale Agreement that introduce more risk. A good example is the Financing Contingency. The Financing Contingency allows the buyer to specify a certain number of days to go through the process of loan approval. This is typically 21 days. The smart buyer will go ahead and get Pre-Approved for a mortgage before making the offer. This is different from pre-qualification which may still have significant risk that a mortgage will not be approved by the lender. Pre-Approval is a more detailed process and subs tantially reduces the risk to the seller. If you are considering buying a property this spring, we would be happy to introduce you to our HomeServices Lending Loan Officer. They can help you get Pre-Approved and show you all the loan products available.

Berkshire Hathaway HomeServices Congratulates #1 Team in Georgia

Screen Shot 2015-02-05 at 5.06.22 PMCobb County’s own Petersen Partners of Berkshire Hathaway HomeServices was recently named the #1 Team and #1 Overall for Berkshire Hathaway HomeServices Georgia Properties for 2014.

In addition, Petersen Partners earned the 2014 Chairman’s Circle Diamond Award representing the top one half of 1% of all agents worldwide for Berkshire Hathaway HomeServices (BHHS). This is the highest level of achievement for BHHS agents. It takes exceptional abilities to reach the level of success to be a member of this elite group of real estate agents.

Petersen Partners achieved top honors with over $50 million dollars in residential and commercial sales. Dan Forsman, President and CEO of Berkshire Hathaway HomeServices Georgia Properties, said, “We are truly honored to have you as part of our family. We are proud of your achievements and look forward to continued success in 2015.”

2014 was a busy year for the nine member team. Co-owners Jill and Dan Petersen were also featured in 2014’s Who’s Who in Atlanta Real Estate and were named as one of Trulia.com’s Real Trends Best Real Estate Agents. In October, the team also premiered a brand new, state of the art office in Smyrna’s vibrant West Village community.

If you or someone you know are looking for the best real estate agent, check out the #1 team at www.petersenpartners.com. You can contact the team at 770-379-8041 or stop by their office at 4500 West Village Place, Suite 1013 in Smyrna and ask for Jill or Dan!

 

Metro Atlanta Real Estate Update for January 2015

  • Closings for Metro Atlanta in December were up 3.8% compared to last month and down 9.3% compared to the previous year. This reflects a more normal seasonal pattern.
  • The Metro Atlanta market was 196 units ahead of 2013 closings which is essentially flat. If you exclude the heavy volumes of investors and REOs in 2013, the market above $200,000 was actually up 12.8%.
  • The average sales price was $260,000 in December versus $248,000 in November. The average sale price for YTD 2014 was $250,000 which was up 42% from the bottom of 2011.
  • Listed inventory was down 5.3% from last month and up 14.2% compared to last year. Inventory is up 32% from the recent bottom of February 2013. But the limited availability of highly desirable properties in select markets is still driving multiple offers and very quick sales. Remember, real estate is local and specific markets can be very different.
  • Months of supply is 5.1 months versus 5.6 last month. Six months is considered normal.
  • New Homes are making a comeback. The problem is that many builders cannot build them fast enough! Visit www.NewHomesServicesGA.com to view new home communities.
  • Commercial real estate is also making a comeback in Metro Atlanta. Smart RE Data reports that land sales, industrial sales and office leases are improving. Our Commercial Real Estate Division specializes in these areas and would be happy to help you. Contact us for details.

We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us at info@petersenpartners.com to find out the specific details for your local area. For more information, visit our website at www.petersenpartners.com. Better information helps our clients make better real estate decisions!