ATLANTA — Harassing calls, mailboxes stuffed with flyers, and pressure to act fast and get a cash offer are becoming common in Atlanta's hot housing market.
Homeowners in Atlanta's southwest neighborhoods say they're bombarded by people trying to undercut the value of their homes and get them out. People who live in these neighborhoods say they're sick of it.
"When I look around, I see Atlanta. I hear the music, I see the people, I see the kids playing, I see the beautiful skyline," Shawn Medley said. "It's togetherness. We all look out for one another; we take care of one another."
She's at peace in her English Avenue community. But she said that peace is being shattered.
"Bombarded with phone calls - asking, am I ready to sell my home? And, no way! This is my love and heart," she said.
Medley said developers are targeting historically Black communities, offering people far less than their homes are worth.
"These people, they ride the neighborhood, they research, and I'm sure they see some grandmothers sitting on the porch and to them, it's bullseye; target," she said.
Real estate agent Bobbie Spiller said she's seen it happen.
"It really breaks my heart," Spiller said, "because I wouldn't want to see anyone doing that to my mother or my grandmother."
Spiller focuses on the up-and-coming areas in the city. She said she's worried people who live in the neighborhoods don't know what their homes are really worth.
"I'm selling dirt for $500,000-$600,000 in Reynoldstown," she explained.
An Atlanta ordinance called R-5 zoning incentivized developers to buy out legacy homeowners and construct luxury townhomes and condos, according to Spiller.
"A lot of people aren't aware that they're paying $500,000 to knock their house down and build two in its place," she said.
She said not only does it change the face of the community, it changes who lives there.
"You know the value of the home, and you come offer a family $100,000, $200,000, $300,000 less? Because you know that they don't know? That's predatory," she said.
Brock James is a project manager for developer William and Mark Designs and works with Spiller to get people in these neighborhood fair deals.
"We have worked with people who have had really low-ball offers for their properties," James said. "They don't know about the real estate world and they don't know the value of what they're sitting on. We make sure everyone is treated fairly."
James says they insist on bringing in a third-party appraisal for all home sales to make sure everyone feels confident in the deal.
Spiller is advocating for the Atlanta City Council to mandate appraisals for all home sales. Both Spiller and James believe that should be standard practice.
Home prices in the city have risen sharply over the last five years, and Atlanta is predicted to be one of the hottest real estate markets in 2024.
Spiller thinks homeowners should profit.
"There's a way to make money and be ethical at the same time. You do not have to cheat people," she said.
She wants more transparency in the development process as the face of Atlanta continues to change.
"How much is your home? You mean, my home I put my blood, sweat, and tears into?" said Medley.
She said she's not easily convinced to let go of her home.
"I'm not going anywhere, so cut it out," she warned.
A bill sitting on the Gov. Brian Kemp's desk right now could change how developers approach people in the neighborhood. HB 1292 is on his desk right now.
The legislation, if it becomes law, would force companies to indicate if the offer is below the assessed value of the home and put that in bold on any offer made to homeowners.
Tips to consider before selling your Atlanta home
SoldNest, a website that helps connect home buyers and sellers with an agent, offers tips on what to consider before selling one's home.
Home sellers should consider:
- An appraisal
- House inspection
- Consider a comparative market analysis (CMA) to know what homes in the area are going for
- Be wary of dual agents - and consider if that situation is best for you
- Vet the buyer - don't sell blindly, no matter how good the number may seem