Beacham tops in $1 million-plus ATL sales in 2018

Through the first four months of 2018, Beacham & Company, REALTORS® was where it has been for the last 11 years when it comes to luxury real estate – tops in Atlanta. The firm outsold all other Atlanta offices in homes priced $1 million or more according to Trendgraphix, an independent provider of MLS market share data to the residential real estate brokerage industry (see accompanying chart).

In addition to its top seller status, Beacham’s market share grew faster (+33%) than any other office in the top 10 in sales. For the entire MLS, the number of $1 million-plus homes sold in 2018 was up 13.5% compared to the first four months of 2017. The $1 million and up market did better than Atlanta’s overall housing market, which was up just 1% for the same period.

Home prices in the luxury market were a different story. The average sales price for $1 million-plus homes was down 2% from 2017 to $1,464,192.  The downward trend in prices continued a pattern that began several years ago. Unlike the market for homes priced less than $1 million which has very low inventory, the number of homes on the market priced $1 million or more is near record high levels and significant amounts of “shadow inventory,” or unlisted, expired or withdrawn listings exist.

Age demographics continued to weigh on the luxury market in 2018 as the increase in Atlanta’s population failed to boost the buyer pool for luxury homes that Atlanta Baby Boomers want to sell. The luxury market is an “off-the-top market,” where new listings either sell quickly or linger due to a property’s condition relative to new and renovated homes with contemporary finishes. Also, Gen X and Millennial buyers value different property features in general than Baby Boomers.

Read more about the luxury market in the upcoming issue of The Beacham Insider later this month.

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Beacham & Company, REALTORS® is Atlanta’s top-selling luxury real estate office. The firm was founded by Glennis Beacham, one of Atlanta’s most celebrated real estate agents and the only agent in Georgia to sell nearly $2 billion in real estate. The firm has 100 agents who average $7 million in sales per agent, more than any other Atlanta real estate firm. In 2017, the firm achieved record sales for the 11th consecutive year and remained the top-selling office in the city for single family listings sold for more than $1 million. The firm also donated nearly $1,000 per agent to local charities over the course of the year.

 

May 19-20: Enter to win Christina Baker painting

This weekend Beacham & Company, REALTORS® will offer open house goers a chance to win a Christina Baker painting ($800 value) by tagging the Beacham crest at any Beacham open house. Called “Quest for the Crest,” or for you Millennials, “#CrestQuest,” it’s your opportunity to add a piece of artwork to your collection from one of the hottest current artists in Atlanta’s art gallery world.

The rules are simple:

  1. TAKE a picture of the framed Beacham crest displayed at Beacham open houses;
  2. POST the picture on your (public) Instagram story;
  3. TAG the following Instagram accounts:
    1. @beachamandcompany
    2. @anneirwinfineart
    3. @christinabaker1

The more open houses you visit and tag, the more chances you have to win! We have more than 20 open houses scheduled this weekend throughout Buckhead and greater Atlanta. Click here for a map of all  our open houses.

Not on Instagram? We would still love you to visit our open houses but you must follow the Instagram steps to be registered to win.

The winner agrees to appear in person at the Beacham office to accept painting and be photographed for publicity purposes. Must be 21 or older to participate.  Beacham agents, employees, and their family members not eligible to win. For additional questions about contest rules, please email [email protected]

About the artist: Christina Baker’s works are displayed all over the United States including Anne Irwin Fine Art gallery on Miami Circle in Buckhead. Baker is a native of Amelia Island, Fla., who recently relocated to Murfeesboro, Tenn. She is a self taught artist who finds inspiration in nature. She uses acrylics as her medium of choice and picks up additional elements of mixed media when the desire arises. These competing elements bring the original life you can see in her work which Christina calls “extremely intuitive.” Christina prefers to work mostly in the abstract and impressionist genres, and she enjoys the challenge of creating harmony between styles that most would consider non-complimentary.

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Beacham & Company, REALTORS® is Atlanta’s top-selling luxury real estate office. The firm was founded by Glennis Beacham, one of Atlanta’s most celebrated real estate agents and the only agent in Georgia to sell nearly $2 billion in real estate. The firm has 100 agents who average $7 million in sales per agent, more than any other Atlanta real estate firm. In 2017, the firm achieved record sales for the 11th consecutive year and remained the top-selling office in the city for single family listings sold for more than $1 million. The firm was also donated nearly $1,000 per agent to local charities over the course of the year.

Beacham sales hit all-time high in April

We sprung on spring! Beacham & Company, REALTORS® got off to a jackrabbit start this spring as evidenced by a 46.9.% increase in closings and dollar volume sold in April compared to the same month a year ago. In addition, the firm set records for most closings and dollar volume sold in any month in the company’s history.

Beacham appeared to defy the odds because preliminary closing numbers for the entire Atlanta MLS showed the market down 16.8% in April vs. April 2017. The final numbers for the market should improve since some brokerages are slow to report sales, but continued contraction of housing inventory should keep the percentage in the red. Closings of homes for $1 million or more were down even more than for all price ranges at 18.9%. Beacham once again sold more homes in the $1 million-plus price range in Buckhead than any other firm including those with thousands of agents.

Reasons for Beacham’s ability to buck overall market trends were numerous. The firm released a new website in March which led to an unprecedented surge in digital activity. Additionally, Beacham released its’ latest issue of The Beacham Series magazine in early April which generated more positive reviews and new business than any previous edition. Other recent new initiatives such as the firm’s Beacham 360 approach to marketing listings as well as collaborative internal support for agents to best position listings and to win multiple offer situations made a huge difference as well.

Beacham’s April sales were particularly strong in Buckhead and inside the I-285 Perimeter. Overall, MLS areas where sales were up in April included the Atlanta Westside, Midtown, East Cobb, and Historic Vinings. The market remained hard to encapsulate however, as some homes received multiple offers and others lingered on the market.

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Beacham & Company, REALTORS® is Atlanta’s top-selling luxury real estate office. The firm was founded by Glennis Beacham, one of Atlanta’s most celebrated real estate agents and the only agent in Georgia to sell nearly $2 billion in real estate. The firm has 100 agents who average $7 million in sales per agent, more than any other Atlanta real estate firm. In 2017, the firm achieved record sales for the 11th consecutive year and remained the top-selling office in the city for single family listings sold for more than $1 million. The firm was also donated nearly $1,000 per agent to local charities over the course of the year.

Shepherd Center named Beacham Q2 charity recipient

Beacham Gives Back, the quarterly charitable giving initiative of Beacham & Company, REALTORS®, has selected Shepherd Center of Atlanta as its’ second quarter 2018 recipient charity.

Shepherd Center is a private, not-for-profit hospital specializing in medical treatment, research and rehabilitation for people with spinal cord injury, brain injury, multiple sclerosis, spine and chronic pain, and other neuromuscular conditions. Located in Buckhead, Shepherd was founded in 1975 and is ranked by U.S. News & World Report among the top 10 rehabilitation hospitals in the nation.

In its more than four decades, Shepherd Center has grown from a six-bed rehabilitation unit to a world-renowned, 152-bed hospital that treats more than 900 inpatients, 575 day program patients and more than 7,100 outpatients each year. Patients travel from across the nation – and even the globe – to Shepherd Center for its innovative brand of neurorehabilitation.

Beacham Gives Back is a charitable giving initiative of Beacham & Company that was started in March 2017 by one of Beacham’s agents. The program is believed to be the first of its kind – at least among Atlanta real estate companies. Recipient charities are not chosen by management but by the agents and staff of Beacham by popular vote each calendar quarter. In less than a year, Beacham Gives Back has donated nearly $100,000 to local charities including Our House, Crohn’s and Colitis Foundation, and the Emory Winship Cancer Institute. Prior to Beacham Gives Back, the firm has made donations over the years to Ronald McDonald House, the Forward Arts Foundation, the Atlanta Symphony Orchestra, and Children’s Healthcare of Atlanta.

Shepherd Center was nominated by Beacham agent Kyle Baumann who will serve as fundraising captain.

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Beacham & Company, REALTORS® is Atlanta’s top-selling luxury real estate office. The firm was founded by Glennis Beacham, one of Atlanta’s most celebrated real estate agents and the only agent in Georgia to sell nearly $2 billion in real estate. The firm has 100 agents who average $7 million in sales per agent, more than any other Atlanta real estate firm. In 2017, the firm achieved record sales for the 11th consecutive year and remained the top-selling office in the city for single family listings sold for more than $1 million. The firm was also donated nearly $1,000 per agent to local charities over the course of the year.

 

Beacham remains only Atlanta firm to map weekend open houses on website

Beacham & Company, REALTORS® was the first and remains the only Atlanta website to exclusively map open houses – something even Zillow doesn’t do.

Any consumer who visits the Beacham website or the Beacham app can instantly see open houses plotted on a Google Maps-rendered window that makes navigating from one open house to another easier and saves valuable time when the window of open house hours can be small or overlap. By contrast, Zillow only plots homes for sale on a map; consumers must click through each listing to find out if the listing is being held open or not and if so, when.

The Beacham open house page is one of the most popular pages on the Beacham website, which, along with other Beacham marketing outlets, captured more than 1.3 million views over the last 30 days ending April 22. The Beacham app can be download here.

Open houses remain a very important part of the real estate sales process. Buyers who visit open houses become more knowledgeable about home prices. A seller who opens their home for an open house gives buyers the opportunity to see a house without having to arrange for a formal showing. From an agent perspective, nothing can take the place of a buyer visiting a home in person to determine property condition, room dimensions, lot topography, neighborhood feel and more. In fact, nearly three out of four real estate agents believe open houses are an indispensable part of the business according to the National Association of REALTORS.

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Beacham & Company, REALTORS® is Atlanta’s top-selling luxury real estate office. The firm was founded by Glennis Beacham, one of Atlanta’s most celebrated real estate agents and the only agent in Georgia to sell nearly $2 billion in real estate. The firm has 100 agents who average $7 million in sales per agent, more than any other Atlanta real estate firm. In 2017, the firm achieved record sales for the 11th consecutive year and remained the top-selling office in the city for single family listings sold for more than $1 million. The firm was also donated nearly $1,000 per agent to local charities over the course of the year.

 

 

Whiskey Gentry performing at Beacham Series party

Beacham & Company, REALTORS® is thrilled to announce that Atlanta-based country and bluegrass band The Whiskey Gentry will perform at an invitation-only party in early May to celebrate the release of the latest issue of The Beacham Series magazine. The theme of the party is “Derby Days” in a nod to the upcoming Kentucky Derby.

The party, which is being sponsored by Campbell & Brannon closing attorney firm, will be at the cover home at 555 Argonne Drive, known as Spotswood Hall, in Buckhead. Spotswood Hall is celebrated as one of Atlanta’s most architecturally significant residences. The neo-Classical Revival style home was built in 1913 under the direction of architect A. Ten Eyck Brown, then redesigned by Phillip Shutze in 1933. Most recently, Norman Askins designed an expansion. It is currently on the market for $3,995,000.

Blayne Beacham Macauley, artist and Creative Director at Beacham & Company, is a friend of the Whiskey Gentry and has appeared in one of their music videos. She identified the band as best suited for the event which celebrates the cover home’s Southern roots and the festivity of the Derby along with the purpose of the party which is to celebrate the hard work that goes into publishing the magazine.

The Whiskey Gentry is a quintet formed by husband and wife duo Lauren Staley and Jason Morrow. The band’s 2011 debut album, Please Make Welcome (2011), became a critically-acclaimed hit and while touring in support of the record, Michael Smith was added on mandolin and Rurik Nunan on fiddle/vocals, along with Chesley Lowe on banjo and Sammy Griffin on bass. The band released their third full-length studio album entitled Dead Ringer earlier this month. The new album, recorded at Echo Mountain Studio in Asheville, NC, is said by Paste Magazine to “build on many of the sounds of their previous albums – incorporating deep country, Americana, honky-tonk, bluegrass and a stiff shot of gritty rock ’n’ roll, yet it also finds the band testing themselves and pushing beyond their own boundaries.” According to the band’s website, Dead Ringer deals with growing up, and how that’s affected the band’s relationships, and the places they’ve gone and people they’ve met in the process. As Staley puts it, “There’s also a lot of questioning where you are in your life: are you going to follow your dream, or are you going to do what society thinks you should do?”

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Beacham & Company, REALTORS® is Atlanta’s top-selling luxury real estate office. The firm was founded by Glennis Beacham, one of Atlanta’s most celebrated real estate agents and the only agent in Georgia to sell nearly $2 billion in real estate. The firm has 100 agents who average $7 million in sales per agent, more than any other Atlanta real estate firm. In 2017, the firm achieved record sales for the 11th consecutive year and remained the top-selling office in the city for single family listings sold for more than $1 million. The firm was also donated nearly $1,000 per agent to local charities over the course of the year.

 

Beacham listings viewed >1.3 million times in 30 days

Beacham & Company, REALTORS® listings for sale were viewed more than 1.3 million times on social media and other marketing outlets over the last 30 days – a record for the firm. In addition, the firm experienced more than 100,000 interactions with consumers who expressed interest in Beacham’s listings which was also a record.

The historic milestones were achieved using a mix of Facebook, Instagram, Pinterest, Twitter, and LinkedIN along with proprietary apps, data mining, cross promotional marketing partnerships, search engine optimization (SEO), affinity databases, and print publications. The firm’s viewership increase was more than 100 percent from the previous 30-day period on one of the firm’s top sources of traffic, Facebook. Historically, increases of such magnitude are a favorable predicter of future sales which isn’t surprising in this case since the housing market is heading into the busiest months of the entire year in May and June.

The analytics for listing viewership were catalogued from a vast number of sources with the lion’s share from Facebook and Beacham marketing partnerships. The data showed that the most popular page on the Beacham website was the firm’s weekly price reduction page which saw a 250% increase in views from a year ago. It is now the single most viewed page on the Beacham website, a sign that the real estate market has become especially value conscious over the last 12 months.

Beacham & Company is enjoying another record sales year; the firm’s closings are up 22.4% in the first quarter of 2018 from the firm’s previous first quarter record. The firm set all-time records for closings in each of the first three months of the year. Conversely, the entire Atlanta market saw no increase in closings in the first quarter compared to the first quarter of 2017 which was primarily blamed on persistently low inventory.

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Beacham & Company, REALTORS® is Atlanta’s top-selling luxury real estate office. The firm was founded by Glennis Beacham, one of Atlanta’s most celebrated real estate agents and the only agent in Georgia to sell nearly $2 billion in real estate. The firm has 100 agents who average $7 million in sales per agent, more than any other Atlanta real estate firm. In 2017, the firm achieved record sales for the 11th consecutive year and remained the top-selling office in the city for single family listings sold for more than $1 million. The firm was also donated nearly $1,000 per agent to local charities over the course of the year.

Zestimate ineffectiveness drives homeowners crazy

The Zestimate. Zillow’s infamous estimator of real estate values doesn’t seem to bother home buyers, but it sure does send many homeowners through the roof with its incongruous home valuations. Even Zillow admits its Zestimate is wrong more than 50% of the time and frequently by as much as 10% of a home’s value. On a home worth $500,000, who doesn’t think $50,000 is a lot of money?

Perhaps the Zillow representative who recently visited Beacham & Company, REALTORS said it best, “the Zestimate will never be right.” Ouch.

What are home owners to do when they list their home for sale and the Zestimate is (significantly) lower than the list price? Beacham has methods that have proven successful in manipulating the Zestimate’s value. Not every attempt is successful, but successes are far more frequent than failures. Example: After Beacham recently took over a listing in Buckhead from another real estate firm, the Zestimate exponentially increased and the home, after sitting idlily for months, went under contract within days.

What is the Zestimate’s deal? Why is it so inaccurate? The Zestimate relies mostly on tax records which can be erratically inaccurate or outdated or both. When bad information is used on a comparison basis to estimate another home’s value, the problem is compounded. Worse, Zillow only has access to about half of the nation’s MLS data.

Sometimes the Zestimate doesn’t appear for a home which pleases many of our clients. Zillow says the only time that happens is when Zillow doesn’t have enough data to render an estimate. However, the Zestimate has been known to appear and not appear depending on the i.p. address used by the consumer. Is anybody feeling jerked around yet?

If you don’t agree with the Zestimate of your home, a homeowner can contest the value. Beacham assists sellers with contesting Zestimates and in manipulation of data to help the Zestimate to a more accurate conclusion. For more information about correcting your Zestimate, contact a Beacham agent or email [email protected]

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Beacham & Company, REALTORS® is Atlanta’s top-selling luxury real estate office. The firm was founded by Glennis Beacham, one of Atlanta’s most celebrated real estate agents and the only agent in Georgia to sell nearly $2 billion in real estate. The firm has 100 agents who average $7 million in sales per agent, more than any other Atlanta real estate firm. In 2017, the firm achieved record sales for the 11th consecutive year and remained the top-selling office in the city for single family listings sold for more than $1 million. The firm was also donated nearly $1,000 per agent to local charities over the course of the year.

FSBOs hit record low for third straight year

 From Inman News

FSBO sales hovered between 12 percent and 14 percent from 2001 to 2008. In addition, the share of recent homesellers who sold with an agent remained at a record high of 89 percent in the last year.

NAR Managing Director of Survey Research Jessica Lautz says FSBO sales have flattened due to current market conditions where sellers need a competitive edge that only an agent can provide.

“What we do see is that sellers are working with agents to help market their homes to potential buyers, sell it in a specific time frame and price the home competitively,” she said. “Pricing the home competitively is really important for sellers today, especially because everything is rapidly changing with prices.”

“So knowing how to price that home so they can sell quickly is important, and that’s difficult for FSBOs to do,” she added.

According to NAR, the median FSBO sales price rose slightly from $185,000 to $190,000 last year, compared to the median price of a home sold using an agent, which stands at $250,000.

FSBO homes sold more quickly on the market than agent-assisted homes. Fifty-eight percent of FSBO homes sold in less than two weeks — often because these homes are sold to someone the seller knows. The median age for FSBO sellers is 55 years. Seventy-four percent of FSBO sales were by married couples that have a median household income of $103,100.

Atlanta condo prices on unprecedented run over last nine months

The average sales price of condos and townhomes in Atlanta outpaced the increase in the average sales price for single family detached homes over the last nine months – something that almost never happens. Typically, single family detached home sales prices rise faster than those for multi-family primarily due to land value appreciation.

What’s going on?

Condos and townhomes were always a lower priced alternative to detached homes particularly in Atlanta’s most desirable areas like Buckhead. However, the dramatic recovery of single family home prices in recent years made condos and townhomes prices even more attractive. A recent multitude of new townhome projects further enhanced the value in older units.

Millennials and Baby Boomers both value low or no maintenance multi-family living so they can pursue active lifestyles instead of spending time on home repairs and yard upkeep. Since Millennials and Baby Boomers make up more than two-thirds of the home buying market, demand is peaking – to a point. The high-end condo market (more than $750,000) is “not brisk” and some high-priced buildings are seeing sales stall due to long lines for rental permits. Some buildings have wait lists for rental permits that stretch for years which effectively eliminates investors from the marketplace. In some cities like Los Angeles, condo associations are deliberately putting the brakes on investor purchases.

Like the single family detached market, multi-family prices also rose in recent months due to a lack of supply – and maybe even more so. A scarcity of new condo projects – which pass on lower per unit land costs to the consumer than town homes – led multi-family sales growth to trail that of detached. The few multi-family projects planned or are underway mostly cater to the luxury market, not first-time home buyers or most downsizing empty-nesters all of whom want to be in the middle of the city (Buckhead Village, the Westside, and Midtown are the top selling condo markets).

The challenge for developers in bringing affordable mid- and high-rise condos to market are stingy lenders and skyrocketing construction costs. Lenders over the last decade were only lending money for multi-family if the project was apartments – particularly in Buckhead. There was a promising sign late last year when a new Buckhead Village apartment tower converted to condos as construction began and with prices starting in the $500ks.

The need for more affordable condo alternatives and/or apartment conversions would help the single-family market long-term by providing a basis for a move-up market two to five year in the future. At the very least, the rising tide of the condo market is speeding up that timeline for many homeowners.

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Beacham & Company, REALTORS® is Atlanta’s top-selling luxury real estate office. The firm was founded by Glennis Beacham, one of Atlanta’s most celebrated real estate agents and the only agent in Georgia to sell nearly $2 billion in real estate. The firm has 100 agents who average $7 million in sales per agent, more than any other Atlanta real estate firm. In 2017, the firm achieved record sales for the 11th consecutive year and remained the top-selling office in the city for single family listings sold for more than $1 million. The firm was also donated nearly $1,000 per agent to local charities over the course of the year.