02/03/2024
Hi All… being in real estate, people are always chatting with me about real estate. But lately those conversations are less generic and conversational, and more focused and definitely more wanting direction on how to make money in real estate. So, I thought I would give some insight to the 3 biggest questions I get about East Cobb Real Estate lately.
1. MARKET: “How’s the market?” - right now? There’s still more demand for “good” houses than inventory. In other words- updated homes in good neighborhoods are getting multiple offers and great sales prices. BUT- some sellers are getting greedy based on previous sales. A house has not been updated and/or has deferred maintenance and is listed as if it’s comparable to those updated homes… well, those houses are sitting on the market. In these cases we are seeing price reductions and longer days on market. The reality is, small, inexpensive, improvements make a HUGE difference in sales price. I literally specialize in this. I joke that I am “champagne on a beer budget”, “design on a dime”… but it’s true. Small changes can bring big rewards.
2. SELLERS: “Ugh… I have a 3% interest rate, I’d like to move, but I’m just not willing to pay 6% interest on my next house.” The honest reality is those 3% interest rates will probably not come back in our lifetime. If you are married to the interest rate, then you should stay in that house. However, there’s a serious opportunity right now for savvy buyers. Once the interest rates come down, I believe there is going to be a flood of buyers hitting the market and still low inventory. This is going to result in multiple offers, bidding wars and people grossly over paying for houses again. I’m counseling my buyers that if they are even thinking about buying in the next 12 months, they should be looking now. Even with the higher interest rates, you will have less competition for the house, and pay less for the house, and you can refinance when those interest rates come down. I have a small, chosen group of lenders that I recommend that can counsel you through this process. BETTER YET- KEEP that house with the low interest rate, rent it for a profit and let that house help subsidize your new Dream house. I can walk you through how this is possible! Get your Dream house, and invest in yourself as well!
3. INVESTORS: “I’d like to invest in real estate but I just really don’t know how and it’s super overwhelming and scary.” Is it possible to be an investor in this area? Yes, but there’s a lot of caveats. East Cobb is a great area for investing in real estate because historically it has not suffered the extreme downturns as the rest of the country has. However, starting prices in this area are not cheap. The good news is, it’s a great area for owning a rental, flipping and short term buy and hold. People are always, always, always trying to get into these school districts and the rental home market is incredibly strong. If you can stomach the higher starting price, the return is worth it. I have personally learned how to invest in East Cobb real estate as a single investor and have bought and sold over $7MM of real estate in East Cobb in the past 5 years. I swear, If I can do it, you can too. It’s not easy, but if you are truly interested in learning, I’m truly willing to share.
If you’ve read this far- you should call me. 🙂 you obviously have a mind for real estate. If you have any questions about the market today, selling your home, buying a home, or investing, feel free to reach out. There is definitely money to be made in real estate in East Cobb. Call me to chat about your goals. 678-699-5825.
Pic of sunset by my house because I tell my husband all the time that I will never buy another house without being able to see the sunset every night. ❤️ !
