Friday, April 15th, 2011 at 9:48pm. 308 Views, 0 Comments.
The East Cobb, Alpharetta, and Roswell real estate market is suffering from a shortage of mint condition home inventory resulting in multiple offers scenarios on well priced, pristine homes. Meanwhile, homes on the market for six months or more continue to decrease in value while buyers wait for the next “creampuff” home to be listed for sale. Many agents and buyers are frustrated at the lack of “good” inventory.
So why are prices going up? And why do I say there’s an inventory problem? The simple answer lies in the inventory shortage of mint condition, move-in ready homes in East Cobb & North Fulton. A mint condition house to most buyers today is defined as having neutral paint, tasteful upgrades and decor, updated appliances, newer…
Saturday, March 12th, 2011 at 10:41pm. 322 Views, 0 Comments.
Don't want to read? Watch this same report on YouTube! You'll have more fun. Click HERE to watch.
I just pulled early sales data for Lassiter, Pope, and Walton school district and I was astounded by what I found. I knew the market was in recovery mode in East Cobb, but had no idea the gas pedal is was the way to the floor.
We’ll look at 2 stats today from 2010 and 2011, homes that went under contract in January and February, and homes that actually sold. Let’s go:
In 2011, 57 homes went under contract in lassiter, Pope, and Walton in January, 72 in February. In 2010, 65 homes went under contract in January, and 72 in February. If you recall, the 2011 Atlanta snows wiped out a complete business week in Atlanta, and I’m positive this…
Sunday, March 6th, 2011 at 9:15am. 391 Views, 0 Comments.
DOWNLOAD THE REPORT AND WATCH THE VIDEO HERE:
Watching the kids in our neighborhood sled ride and enjoy the snow
from the Blizzard of 2011, I wondered how real estate in their high
school performed in 2010 versus 2009. The information here is really
unique interesting and I don’t believe you’ll find it anywhere else on
As always, pause the video to really absorb the information. By the
way, the sales data here is based solely on single family detached
homes. No condos or townhomes were harmed in the making of this video.
Let’s start with Cobb County. As you can see, I’ve listed from left to
right the avg sales price and units sold in 2010, and then the same
information in 2009. The color coded columns represent increases and
Wednesday, June 9th, 2010 at 8:24pm. 533 Views, 0 Comments.
Go to this link to watch the YouTube Video:
Transcribed from YouTube Video on Cobb County Real Estate
In April 2010 there were 640 home sales in Cobb County. You may be asking what has taken me so long since we’re currently in June. However, if I wait just a little bit longer the statistics are usually more accurate. So I’m certain 640 sales is fairly. Out of those 640 Cobb home sales, 175 were foreclosures. Contrast that data to April 2009 where there were 464 sales at average price of $213,944. April 2010 posted a sales volume gain gain of about 15% and the average home sale $228,097. A 7% increase in sales price occurred between this year & last year in April.
Now let’s take a look at the 175…
Wednesday, December 2nd, 2009 at 5:35am. 946 Views, 0 Comments.
Treasury Outlines New Guidelines to Streamline Short Sales
Short sales have long been problematic for buyers and sellers alike due to the lack of urgency by banks to work out contracts in a timely manner. We've all heard the horror stories about buyers waiting three to six months or more before hearing from the bank on whether their offer was accepted or not.
According to the National Mortgage Bankers Association, more than 9.1% of Georgia mortgage borrowers are 60 or more days late on their mortgage payment.
In 2010, short sales are predicted to be a larger portion of the marketplace in the Metro Atlanta region. Some experts estimate that 40% of home sales in 2010 will be "shorts."
Short sales are seen as beneficial for 3 primary…
Tuesday, November 24th, 2009 at 8:41am. 594 Views, 0 Comments.
Pre-Holiday Cheer for Atlanta Housing Market
There is reason for some pre-holiday cheer in the Atlanta Housing Market! Numbers just released for October show the strongest year to year percentage increase in closings since May of 2006. According to Marietta, GA based Smart Numbers, there were 4,532 closings in October for all single family. After reported "lag closings" the increase should be at least 15% from October 2008.
While the average price single family detached homes ($201,038) was up from September 2009, prices declined 6.9% from October 2008. If the average price home holds at $200,000 in November, and I believe it will due to the surge of activity related to the then expiring tax credit, then it will be the first year over year price…
Tuesday, October 6th, 2009 at 9:41pm. 724 Views, 0 Comments.
Today was the eye opener that I've been waiting for...
All the doom and gloom of record foreclosures and burgeoning inventory aside, it seems there are not enough "nice" homes to satisfy demand in the $150k-$200k price range. One new home community (yes, they still exist) in North Cobb had UNDER CONTRACT signs on 90% of its properties! John Adams reported in his weekly column in the Atlanta Journal Constitution that the best time to buy may be coming to an end. This weeks interest rates are some of the lowest on record. 30 year fixed rate loans are well under 5% and have held there for several days.
I spent some time today with a great family expecting their third child and looking for a little more room. I went through all 98 listings that met their…
Wednesday, September 16th, 2009 at 9:44pm. 450 Views, 0 Comments.
This weekend I showed a wonderful couple from Jacksonville, Florida townhomes and condos in the most exclusive areas in Buckhead. We found out some profound news that the rest of the world has yet to discover...HOMES ARE SELLING! Several new construction projects have deeply discounted pricing and savvy buyers seem to be out in gobbling up the bargains.
Take the Brownstones at Habersham for example. 14 townhome SOLD IN JUST 30 DAYS averaging over $500,000. We were shocked to find a 4 level, 3,000 square foot townhome complete with a roof patio & stunning views of Buckhead's business district gone. The home was originally listed in the $800's.
That's not all, one 2000 square foot condo in the exclusive Phoenix building is in the low $400's. From this…
Saturday, August 8th, 2009 at 9:09pm. 826 Views, 0 Comments.
According to the Marietta Daily Journal, there were 1,079 foreclosed homes for sale on the Cobb County Courthouse steps this past Tuesday. This represents an increase over the August 2008 auction of 861 foreclosures. Many of these homes will be listed and sold to the public over the next several weeks.
Foreclosures continue to drive the market place to a slower recovery. What does this mean for the Cobb County housing market? Let's consider this, in all of July there were 561 single family detached homes that sold, 84 attached condos/townhomes, and just a handful of land/lots.
If 75% of the homes sold on the courthouse steps will be marketed publicly for sale, it will be slightly higher than an entire's month worth of sales in Cobb. Add short…
Wednesday, July 22nd, 2009 at 5:48am. 611 Views, 0 Comments.
Many sources have predicted that the Atlanta housing market would hit bottom and begin a slow but steady recovery in late 2009. It sure seems like that is the case today as a new report shows months of inventory for single family detached housing in June reduced to 12 months verses 13.6 months in June 2008. This is a positive sign that while the economy is still weak, the housing market is beginning a slow turn to the positive.
The average sale price for detached housing in June was $217,790 in Metro Atlanta, a 13.4% decrease from 2008, but $42,000 above the recession low in February. It was also the 4th consecutive month of price increases. Again, the basic economic principal of supply and demand continues to prove that the market is gaining some…