We supported 16 investors in 2021 who did their own research, took our advice, and bought new construction investment homes in Cartersville GA. Townhomes that sold for under $220,000 in early 2021 new are now getting $286,000; Single Family Houses that were $280,000 are now at $360,000. These investors gained an estimated $1,400,000 in equity in one year!
We still like Cartersville as an investment because it has a terrific location off of I75, several major employers, things to do, and still has room for appreciation as it is the lowest priced (median) in the areas we service. I’m also exploring for our investor clients Ball Ground, Acworth, and Dallas, GA. Both are slightly higher priced than Cartersville but should appreciate nicely too. While the rise in prices and interest rates make these investments less profitable, we still believe there’s time to buy and see appreciation. See below for some information about Cartersville. Call us with any questions.
Are we in a real estate bubble? Short Answer is No! Real estate has always been about supply and demand. Our supplies of listings for sale are at historic lows and demand (due to low interest rates and higher incomes) is high causing major economists to predict that prices will rise 6.1% during 2022 and somewhat less than that through 2026
Interesting stat of the month
70% of all home sold in January in Atlanta had multiple offers. That creates a very lopsided market for buyers. Recently we represented a buyer who got an offer accepted competing against 47 other offers. They offered $85,000 over asking price (with an escalation clause), no appraisal contingency, an inspection for informational purposes only with no repair requests, and used the sellers preferred lender and closing attorney.
Real Estate Stats and Thoughts
Our primary areas of service are below, and it continues to be an unusually strong sellers’ market. Average appreciation is now at 18.7% year over year, but the rate of appreciation is continuing to slow from the highs of 26% year over year. Cartersville led the way with 28.2% appreciation year over year in February.
Active listings are at historic lows of February inventory at 1275 Active Listings – we had 6307 listings 10 years ago.
National Appreciation Chart
Highlighted City: Cartersville
Some of you may have noticed in our statistical chart that we have added Cartersville to the List of Serviced Areas. Just North of Atlanta and in the foothills of the Appalachians with direct access to I75 it is beautiful and convenient to the airport, downtown and more. There are several new home developments out there. As the seat of Bartow County they have 9+ Major Employers and 207 industries (minimizing recession risks) and a terrific track record of appreciation. Buyers who took our recommendation and paid $215,000ish for new townhomes last winter are now seeing rents rise to $1550+ a month and prices for identical new units at $286,000ish.
Property Management Question of the Month
How can I highlight the features of my rental unit?
Your property is unique and has features that make it stand out from the rest of the rental opportunities nearby. Knowing how to bring those features to attract new tenants, however, is the challenge. Luckily, there are a few simple ways to highlight these features with minimal photography skills and budget.
Keep these tips in mind as you prepare for the spring and summer rental season.
Take Pictures of the Right Features
a.k.a. the features your potential tenants will care most about. These features can be both design-focused and functional; a mix of the two may appeal to the widest audience. Focus on features like crown molding, new appliances, large outdoor or patio space, and newly renovated areas of the home.
Do home tours – we like Matterport
What better way to highlight your property than with a virtual tour? You can do this by taking a phone video and uploading to YouTube, or taking a live video with your Facebook or Instagram business page. Either way, this is also a great opportunity to engage with potential renters by posting questions. You might say:
“We just finished this bathroom, and added the brand new clawfoot tub. Do you like that vintage style? Tell me in the comments!”
“Tenants love using the back yard for grilling and hanging out with friends—the grill over there comes with the property. How often would you use this area?”
If creating all videos on a social platform, be sure to download them and upload to your YouTube channel. You can begin creating different sections for each rental property, so anyone interested in your listings can get walking tours whenever they want.
Only Use high-quality images
Photographing the right features is important, and the next step is taking high-quality photos. Luckily, you don’t need an expensive camera or photography experience to do that. The new iPhone 13, for example, has made it even easier for you to get expert-quality photos all on your own.
Be a data-geek
It’s hard to argue with facts, which is why using data to highlight the most sellable features is a great tactic for attracting new tenants. Here are a few data points to include in your listings and ads:
Walkscore: Use this to attract tenants who care about accessibility to nearby retailers, grocery stores, restaurants and bars. The key is to know when to highlight it and when to leave it out. “Buyers who really care about Walkscore are people who want a place with tons of resources nearby, so if you have a score under 70 don’t add it to your listing but anything over 71 is advertising gold.”
Crime stats: If a tenant is moving to your area from another town or city, they’re likely unfamiliar with the local crime rates. If yours are notable or lower than average, be sure to include them. This will especially appeal to families and people looking to live alone.
Age of property: If you’re renting a new building or house, make that clear in your listing and ads. “It’s worth repeating that tenants want to avoid the hassle of tiresome repairs. Oftentimes, this means they will look for new properties with newer plumbing, electrical and HVAC systems that are less likely to break down and require repair,”
Use testimonials from the current or previous tenants
No one knows what features are most appealing more than the people who have lived in your rental property. If you have a good relationship with tenants, ask them to write a
small paragraph discussing the features they liked most about the property. Everyone will like different things, so this allows you to provide a wide, all-encompassing perspective for every potential renter.
Feature these on social media, your website, or better yet—right on the listing page. Include first name, last initial and age range (20-25, 25-30). Age range is helpful because everyone appreciates different features at different times in their lives; this allows potential tenants to qualify the information in terms of whether it’s important to them.
Featuring your properties most sellable features isn’t hard to do. With the right strategy and ideas, you can capture the essence of your rental property, attracting more people and building a brand for yourself.