In Real Estate the word "inventory" describes amount of time it would take to sell EVERY available home on the market at that time.

As we were looking at the latest stats from GaMLS, we noticed that some of Metro Atlanta's biggest counties have unprecedentedly low inventory rates. Forsyth is at 3.62 months of inventory, Fulton at 3.58, Dekalb 3.03, Cobb 2.73, and Gwinnett at 2.85. Just as a point of reference, 6 months is considered a healthy and balanced market.

The buyers are out there looking and ready to buy, but right now there aren't many homes available for them. This is causing a bit of a sellers market in our area. Homes are selling quick and if priced correctly for list price and sometimes even more!

When you sell your home, your real estate agent will present you with a federal and/or state-mandated disclosure form called a Real Estate Disclosure Statement, Property Condition Disclosure, or Condition Report. You're required to disclose the presence of lead paint, radon, asbestos and other toxic products if you know your home has them.

While the forms may ask you to disclose whether or not you know there is lead paint or radon present, you aren't required to do tests to determine the presence of toxic chemicals. But your buyer's lender can always require proof of tests and/or remediation for any problem that has been disclosed, such as fire and water damage.

It's important to answer every question as truthfully as you can. You must answer the questions yourself - your real estate professional can not fill out the disclosure for you, but he or she can help you understand what's being asked of you. If you're in doubt about what to disclose, such as a repair, it's best to err on the side of too much information than not enough.

While disclosure forms allow you to check the "I don't know" box, you should only do so if you truly don't know the condition of that item. If you answer that you don't know the condition of an appliance you use daily, such as a sink or bathtub, you might raise suspicions in the buyer.

The best way to feel confident about the condition of your home is to have it inspected by a licensed professional home inspector. Your real estate professional can recommend someone or provide you with a list. For a few hundred dollars and a few hours of your time, you'll either find that your home is market-ready, or the inspector will bring a problem to your attention that you can fix.

When you disclose a problem to the buyer that has previously been fixed, be sure to provide a copy of work orders, receipts and invoices. If the problem hasn't been fixed, expect the buyer to either ask you to fix it, or to offer a little less for the home.

Remember, if you do not do the repairs most likely the buyer will discount the offer, if he makes one at all. Homes in the best condition sell the best.

The seller's disclosure is designed to do one thing -- hold you and your real estate agent harmless if you've disclosed the truth about your property. You don't want to give the buyer any room for complaint or litigation after the closing.

To get an idea of the types of questions you'll be asked in a disclosure contact me at Virginia@AtlantaHomeConnections.com.

Don't be afraid of the seller's disclosure. It's not meant to be a deal-killer, but a deal-maker. Many agents provide a copy of the disclosure to interested buyers, so they can get an idea of the home's condition before they make an offer or have an inspection. 

Real estate transactions involve a trade -- houses for money. We know the house is there, but what about financing? There are several factors that impact the money issue:

 Has the buyer been pre-qualified or pre-approved by a lender? Meeting with a lender before looking at homes does not usually guarantee that financing is absolutely, unquestionably available -- a loan application can be declined because of appraisal problems, title issues, survey findings, and other reasons.

However, buyers who are "pre-qualified" or "pre-approved" (these terms do not have a standard meaning around the country) at least have some idea of their ability to finance a home and know that they are likely to qualify for certain loan programs.

 The result is that pre-qualified buyers represent less risk to owners than a purchaser who has never met with a lender. If the seller accepts an offer from a buyer with unknown financial strength, it's possible that the transaction could fail because the buyer can't get a loan. Meanwhile, the owner may have lost the opportunity to sell to a qualified buyer.

 The lower the interest rate, the larger the pool of potential buyers. More buyers equal more potential demand, good news for sellers.

Alternatively, high rates or even rising rates may drive buyers from the marketplace -- and that's not good for anyone.

 It used to be that down payments were a major financing hurdle -- but not anymore. For those with good credit, loans with 5 percent down or less are now widely available. In fact, 100 percent financing, mortgages with nothing down, are now being made by conventional lenders. Reduced down payment. 

Contact us NOW at Atlanta Home Connections, we  can help and there is no cost to you! 

From February 2015 to February 2016, the median sales price of single family homes in Gwinnett increased from $185,750 to $200,000 which represents an increase of 7.7% while the average sales price from the same period increased from $212,365 to $232,091 representing a 9.3% price increase.  

Comparing February 2015 to February 2016, the number of homes listed for sale increased by 1.2% while the number of homes sold decreased by 5.8%.  This would generally indicate a stronger Buyer's Market for 2016 over 2015. However, the lack of currently available inventory will continue to drive home prices higher in 2016.  The decline in the average number of days on the market for for sold properties (from 69 to 67) also reinforces a strong Seller's Market for 2016.  With the limited supply of homes on the market,  along with a strong buyer demand, we can expect to see a continued rise in home prices in Gwinnett for 2016.  

Source For Home Sales Data: GAMLS  

Signs of spring are already here in Atlanta, even though it is still about 2 weeks away.  As far as the real estate market is concerned, the flowers are blooming, and the buyers are looming!  

The housing market is already showing signs of  "Springing Forward".  The lack of homes available for sale this winter has caused home prices to rise much faster than normal.  The lack of home inventory has many buyers just waiting on the sideline for the right home with the right features to hit the market.  

For those sellers that are willing to put your home on the market today, you will most likely benefit from a very quick home sale as the average days on market for Gwinnett homes is very low.

For buyers, NOW is the time is now to purchase a home,  you do not have time to waste.  If you are looking to avoid the summer sales rush and the usual summer uptick in home prices, you should of had your offer in yesterday.  Waiting on the sidelines will most likely result in both higher home prices and higher interest rates for the foreseeable future.

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Simply conduct a real estate search on our website.  Once you are on the results page, click the "Save This Search" Button (see below) and then register with your contact information and email address.

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If anyone wants to purchase one of these homes, we would love to represent you throughout the home sales process at no cost to you! Here is a link to the list of the 5 priciest homes in Gwinnett!

5 Most Expensive Homes in Gwinnett