Two Things to Know About the Equity in Your Atlanta Home

Buying a Northeast Metro-Atlanta home? Get a full home search 

Selling a Northeast Metro-Atlanta home?  Home Price Evaluation

We have a nice little surprise for homeowners in Atlanta, and it's the fact that your home might be worth more than you think. Do you know how much equity you have in your property?

There are two different types of equity that I'd like to speak about today. One of them is negative equity, and that's when you're underwater on the home. The second kind is significant equity, which is when you have more than 20% equity in your home.

In a recent poll, 23% of people in the U.S. felt as if they had negative equity, but in reality, only 9% of homeowners are underwater.

In another poll, 37% of people think they have significant equity in their homes, while 69% of homeowners actually have significant equity in their homes. This is a huge difference, and the moral of this story is that your home is probably worth more than you think.

You may have enough equity in your current home to use it to buy another home. You can figure out what your home is worth if you contact us. We can find an accurate market value for your property. This is important even if you're not thinking of moving for some time. It's always good to know things like this!

As always, please don't hesitate to contact us if you need help buying or selling in Atlanta!

What Causes Contracts to Get Terminated?

Buying a Northeast Metro-Atlanta home? Get a full home search 

Selling a Northeast Metro-Atlanta home?  Home Price Evaluation

Today we are here to answer a common question that we’ve been getting from our clients, “Why are so many real estate contracts being terminated?”

Well, one reason is that values have increased so much in the last few years, which is creating an unfortunate situation for both buyers and sellers. Buyers feel like they are paying top dollar for the house they are purchasing. At the same time, sellers, who bought high, feel like they are giving the house away.

Another reason we keep seeing this happen is because our inventory is so low right now, many buyers are finding themselves in a multiple offer scenario. When they try to vie for position to win the house, they end up spending all they have got. When we get to the inspection period, sometimes we just have a hard time connecting on what repairs need to be done, and which ones don’t.

How can we help you out today? Well, having an agent who understands this process and knows how to negotiate is ideal. You should also have a reputable home inspector. We want to make sure that there is some negotiating room when you get to the inspection period, because if the buyer or seller gets there and can’t come together for a fair deal, the contract is going to fall apart.

If you have any questions for us, or would like to get in contact with a reputable home inspector to get you through the transaction, give us a call or send us an email. We can’t wait to help you out!