Where’s The Bottom? Market Update August 11, 2009

CNN Money shares with us that the US has seen it’s first overall price increase in over 3 years based on a 20 major city analysis! Atlanta’s average home prices report to have increased .03% from April ‘09 to May ‘09 after a 15% overall drop in prices since this time last year. While a fraction of a percent is not all that much to jump up and down about, it signifies a few things:

1) Stop waiting for the bottom to buy. You will never see bottom until you look back at HISTORICAL data, which means, you missed the boat – Wealth is built in these kind of markets – WE ARE HERE (at least for a moment).

2) Inventory levels are decreasing which is driving prices up – more buyers out there because of the Real Estate gods giving us tax credits and the slew of deals we’ve seen. Buyers, it has been a buyer’s market, but keep in mind, you are not the only one out there looking for the ‘deal’ of a life time. When you find something, use your gut and make a move. Now, experts say, and I agree, that this could be a temporary stabilization since many banks are calling off their foreclosures and hanging out in short sale land. There are still a slew of distressed homes that are not showing up in sales statistics as foreclosures continue to stay in ‘pending’ status.

One last word of advice for those in the market (or ON the market). There is no need to take the ’sky is falling’ mentality. There is no such thing as a BAD market – because it depends on which side of the transaction you are embracing. Seller’s, think of yourself as soon to be buyers. Buyers…well, hopefully you won’t be selling for a while. Until next time, Make today count!

August 7, 2009

It seems the market is really picking up, in my opinion, as I hear the “celebration bell” ring in my office on a hourly basis from excited colleagues closing a deal or writing a contract. But what does this ‘picking up’ really mean for Atlanta?

As I compare Q1 2009 to last year’s Q1, it means buyers are getting deals with an obvious decrease in median sales price for average for single family homes of 20.12%. This includes all FMLS areas inside the perimeter north of I-20, Vinings, Dunwoody, Sandy Springs and Tucker. Dunwoody comes out the winner with a 0% decrease in median sales price where Midtown/In-town/Ansley and Vinings are jockeying for an overall decrease up to 35% in median sales price.

It’s Good to Be the King (or a home buyer) May 12, 2009

Cash Back for Buying

It is getting more and more exciting for our housing industry! The incentives that are pouring in for buyers in Georgia (and even more so for 1st time home buyers) are INSANE on top of the fantastic interest rates! A total of $9800 in tax incentives ($8K for first time home buyers & $1800 for home buyers in Georgia) is possible for buyers that choose to get off the fence during this feast.

Governor Purdue signed House Bill 261 in Georgia YESTERDAY and it allows primary-resident (non-investment) buyers that purchase a home between June 1st & Nov 30th to claim an additional $1800 tax credit (or maximum of 1.2% purchase price – which ever is lower). This credit can be claimed over a period of 3 years to mitigate the shock to GA’s state budget. This is IN ADDITION to the 1st time home buyer tax credit of $8K which extends to any first time home buyer purchasing a primary residence prior to December 1st 2009 (or a buyer that has not owned a primary residence in 3 years). Isn’t that AWESOME!

Please read the details in the article linked below. Remember, WEALTH is BUILT in BUST not a BOOM (Gary Keller, Founder KW) and I’d like to help you build your wealth. Call me today at 404-808-1528 to get started with these great incentives and build WEALTH. This incentive is only available for 6 months, so let me help you or someone you know take advantage of this great time to buy!

Please see the article below for further details. http://www.northwestgeorgia.com/statenews/local_story_131133253.html?keyword=topstory

*Information in this email is believed to be accurate but not guaranteed and may be changed by lawmakers

Oooooo Pretty. July 15, 2008

Watch out! I just bought my new Nikon D80 with a wide angle lense for my listings (among many other things).  Photography has always been a balancing hobby of mine and I finally am making amends that I can have both my digital SLR and film SLR – although I have to say I love(d) developing and printing my own film.

‘Life Happens in Hapeville’ : Jacoby’s New Brownfield Redevelopment June 12, 2008

Improved environments, bushels of new jobs, developing communities & an “aerotropolis”? That’s something I can get excited about. Following the infill success of developing Atlanta’s Atlantic Steel mill in the Midtown area to ‘Atlantic Station – Life Happens Here’, The Jacoby Group just closed on 122 acres with plans to redevelop Hapeville’s Ford Assembly plant, which closed it’s operations back in 2006 after 59 years.

Let’s think about this. Metro Atlanta is growing at a rate that competes with my grass after a heavy spring rain. Anticipating over 100,000 new-comers to the area yearly, one of the fastest growth rates of any major city (www.antlantaregional.com) , we have to make a place for everyone. We’ve already started growing ‘UP’ with all the new hi-rise developments along the Midtown Mile and in Buckhead. In recent years, we’ve grown north, west and east too to suburban areas. But NOW, with increasing population and fuel costs, we are seeing necessary changes to our other ITP (inside the perimeter) – the south side!

As a proud SoPo (South of Ponce) resident, it is still true that you can get most anywhere in the metro area in about 20 minutes (minding traffic). The airport is just a hop-skip from our neighborhoods. This “aerotropolis” plans to redevelop environmentally challenged land and the demo and clean up could take up to a year, but following will be a micro-city in Hapeville. Applause applause to cleaning up a brownfield! You bet I’ll be checking it out. Offering offices, retail, restaurant, hotel and airport parking space, this breaking development is just one of the many reasons to invest ‘in-town’ as Atlanta’s main thoroughfare continues to expand.

To check out a list of Hapeville homes available and invest nearby, check out www.hapevillehomes.com

Radon – Doesn’t have to be a deal breaker…But How? June 10, 2008

What IS Radon? – Simply put…

It’s the 2nd leading cause of lung cancer in the United States – A “Class A” Carcinogen determined by the EPA and the Surgeon General. It is also the leading of lung cancer in non-smokers.

Have I gotten your attention yet? You can’t smell it, see it, feel it, taste it, or shake hands with it. It’s a problem here in Georgia yet SO MANY of us buying and selling homes, just ignore it. It a hazard to our families and friends and you may as well stick them in a bar with 100 smokers for 10 years. Same thing.

Neighborhood Newsies : 4th & Swift May 23, 2008

Yum Yum Yum in my TUM! For all you foodies that love the city approving restaurants, coffee shops and little walk-to bistros in the heart of our in-town neighborhoods, I’m in your boat!  Please welcome 4th & Swift, a seasonal sophisticated comfort food joint, to the corner of North Ave & Glen Iris.  Chef Jay Swift

To condo or not to condo? That is the question. May 20, 2008

Buyers are smart:

Q: I want to own something because it makes much more economic/tax sense, but I’m single and really like living in Midtown because I can walk to work and the park and restaurants and such. I know buying a single family detached house is the best bet from an economic perspective, but it just doesn’t suit my lifestyle right now. I have heard buying a condo in a high-rise building is a very bad decision because it will be very hard to sell and get your money out of it down the road. Do you agree with that? Would I at least be able to get out the money I put into it if I bought a condo and lived there 2 to 3 years.

Eco Broker : Changing the way you buy and sell real estate May 19, 2008

It’s time consumers make a conscious change. We hear it on the news every morning. Change, in my opinion, is a byproduct of adversity and uncomfortableness. Well, we, as consumers, are there. Eco-Friendly, Green Housing, Leadership in Energy and Environmental Design (LEED)®, Earth Craft Homes™…all great buzz words that are becoming part of the cornerstone of building developments. Before, many felt sustainability meant expensive upgrades or a commodity of luxury those that could afford it had in their homes. Well, let me attempt to disarm that myth.