April 25 (Noon) Suwanee's Big Backyard Bash Suwanee Town  Center Daily thru May Art on a Limb Suwanee Creek Greenway & Sims Lake Park May 1-June 5-Aug 7-Sept 4 (7 pm) Outdoor Concert Series MAJIC 107.5 & 97.5 Town Center Park May 16  (Noon) Petapalooza STAR 94FM Town Center Park May 22 (7 pm) Gwinnett Daily Post Memorial Day Weekend Concert Town Center Park July 25   (8 pm) B at the Movies Town Center Park July 31 and August 1  (8 pm) Suwanee Performing Arts  "Beauty & the Beast" Town Center Park August 15  (8 pm) Concert in the Park Town Center Park August 29 & 30 Paddle in the Park Sims Lake Park September 12  (8 am) Suwanee Day 5K and 10K Classic Town Center Park September 19  (10 am - 10 pm) Suwanee Day Town Center Park October 31  (11 am) Trek or Treat Suwanee Creek Park December 5  (5 pm) Old Town Holiday Festival & Caboose Lighting Main Street SUWANEE FARMERS MARKET Every Saturday May 2 through October 17 (except Sept 19) 8 am - Noon Town Center Park

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     FIRST QUARTER 2009

FIRST QUARTER 2008

 ANALYSIS:

1)  Sold Units:  '09 vs. '08  
2)  Average List Price:  '09 vs. '08  
3)  Average Sold Price:  '09 vs.  '08  
4)  List to Sale Price:  '09 vs. '09  +2%

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The crystal ball has been shining a bit brighter these days; but fair to say it isn't quite glowing yet. According to Steve Palm, Smart Numbers, indicators are beginning to point in a positive direction supporting the predications of positive results in the second half of this year.

The first time home buyer has helped fuel improved sales due to historically low interest rates and the First Time Home Buyer Tax Credit. According to Lawrence Yun, NAR Chief Economist said, "The share of lower priced home sales has trended up, indicating a return of many first-time buyers, which we also see in a parallel member survey." Sales in the upper price ranges remain stalled because of higher interest rates on jumbo loans." (Realtor.org April 23, 2009). A survey by NAR shows first time home buyers accounted for 53 percent of transactions nationwide.

As we all look forward to a more robust selling season here in Atlanta, let's take a look at how the market faired in March 2009 compared to March 2008.  

For additional reading:

H.R. 3221- First Time Home Buyer's Tax Credit

State of the Market

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   ART ON A LIMB....

It's that time of year for the travellers of the Suwanee Creek Greenway - and this year...the park-goers at the new Sim's Park.  Begining May 1, the trails at both parks will be dappled with the creative works of Melody Orr.  This is the second time for Melody to to participate in Art on a Limb. Her artwork was also displayed in 2006 Art on a Limb.
And, this is the fifth year for "Art on a Limb."  This year's pieces (100 in all)  will be magnets  with collages of historic Suwanee photos.  The artist has combined multi-media techiques in her artwork to enhance the time period for which each magnet repreents.
Art on a Limb is a way to have fun and bring an element of excitement as you walk
along the paths of either of the parks. Two pieces pf Melody's art will be placed on the  trail every day throughout the month of May. He or she who finds.....gets to keep!  So as you walk, run or peddle your way along these pathways starting in May, keep your eyes open! A treasure is lurking....Can you find it?

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FACES of THE GEORGIA HOMEBUYER  in 2008

 Yes, homes did sell in Georgia during 2008, one of our worst year's in real estate. Curious about the profile of the average home buyer?

• Median age was 39
• First time home buyer median age was 31
• Median house hold income for 2007 for Georgia home buyers was $73,600
• Interesting: 61% of home buyers had no children under 18 living at home
• 9% born outside United States
• 41% first time home buyers
• Median income for first time home buyers was $52,800
• 61% of first time home buyers said their primary reason for buying was a desire to own a home
• 47% of home buyers use social networking sites

CHARACTERISTICS OF PURCHASED HOMES

• 32% of homes purchased were new construction
• Detached homes accounted for 81% of home purchases
• Median price range:  $195,000
• Commute time was on the list of consideration for 80% of buyers
• Buyers expect to live in their home approximately 10 years

HOME SEARCH PROCESS

• 31% of home buyers first researched properties on line
• 15% of first-time home buyers first contacted a real estate agent
• 19% of repeat buyers first contacted a real estate agent
• 89% of all  home buyers used the internet for home searches
• Time involved in the home search was a median of 9 weeks
• 85% of all home buyers used a real estate agent
• 36% of home buyers learned about the home they purchased from a real estate agent
• 83% of buyers found their real estate agent provided very useful information
• 10% purchased foreclosure properties

 HOME BUYING PROCESS

• 76% used a real estate agent to purchase their home
• 46% of buyers were referred to their agent by friend and/or family
• 97% ranked honesty and integrity as "very important" when selecting a real estate agent
• 72% would use their agent again

FINANCING

• 98% financed their home
• 66% of first-time buyers used savings as their source for the down payment
• 48%  of repeat buyers used proceeds from the sale of a home; while 44% used part of savings to assist in the down payment
• 49% believed a home purchase was a better investment than stocks

Source:  NAR

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