SMART Data Analysis - Get Educated 

Being both a broker and certified appraiser offers distinct advantages to my clients. I have access to a significant amount of data and can utilize and explain it in a very clear manner. Given that I'm in the appraisal business I can also look at the data from an appraiser's point of view; eliminating the chronic gap between agents and appraisers. Knowledge and data are power and in this market but you MUST have it unfiltered, unbiased and easily understood. 

Here's a very brief example of what I can do for any property, anywhere by simply using what I have on my desk top. Suppose you're a buyer looking for a home in the Walton HS district in East Cobb. Your target price is $500,000 and your question to me is a simple one:

What can you tell me about the market?

Well rather than the usual dopey agent response of "It's a great time to buy" in a few minutes I'll brief you with some of the following material. This is just part of what we'll look at....

Median sale price activity in Walton HS 12/06-06/09

Top graph is all activity between 300K-800K

Bottom graph is submarket of 400K-600K (bracket the 500K target)

You can see the trends since 12/06. Note overall between 300K-800K we see a drop of about 8.7% BUT the 400K-600K market shows a 1.77% increase.

Here we see trend line for the number of sales in both overall market and submarket. We all know that the market has slowed, but here we can see how much. The general market is off 51% since 12/06.

Days on market is a good indicator of the housing market. Here we see a general market increase of a whopping 138% in days on market since 12/06. Relating this info to the listing agent so that they can give it to the seller "prepares the battlefield" for you; I always prep the opposing agent and seller with data to enhance our position. 

This is the meat and potatoes of the 1004MC (market conditions) form of every residential appraisal. The data and methods that I use to evaluate homes is the same that an appraiser will use to appraise it; I know what they will look at and how it will shake out before they do. If and when differences of opinion arise, I can effectively argue and provide CREDIBLE data to them. 

So, rather than some talking point Realtor babble, the answer (at this time) to your question about the market is:

  • Overall market is off but your segment is even to a smidge up
  • Despite the market dump in most areas, Walton HS is doing OK
  • You shouldn't plan on any crazy appreciation 
  • Homes are selling for about 90-92% of list price
  • About half provide some concession and that runs just over 1%

This is just a snapshot of what I do. Everything is designed to educate you, let you see what we see and to give you confidence in your purchase. A full work up is more detailed than this and of course includes a review of active homes. There are great opportunities out here and my goal is to ensure that you are confident in any purchase.

Drop me an email on any home/area of interest and I'll work something up. If you're thinking of selling, let me know that too - this market is all about price.

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