SUWANEE TALK!: February 2010

The process of purchasing a home is an exciting time, but one that may bring additional responsibilities into your life. Many homes may need renovations or inspections, especially in areas that are susceptible to natural disasters. Having the assistance of an experienced and reliable Georgia real estate agent will make this process smooth and stress free. Some older homes may still contain obsolete building materials. Citizens of this great state are striving to move to a green lifestyle, advocating environmentally sustainable methods to be used throughout the state. Building or remodeling your homes with Eco-friendly materials can lower utility and water bills, higher real estate value, purer air quality, reduced waste sent to landfills and conservation of natural resources. Asbestos & Healthy Tips Asbestos is a fibrous mineral that was used in construction applications for the greater part of the 20th century. Often appearing as insulation, piping, roofing and flooring, homes and buildings could still contain asbestos materials if they were built prior to 1980. This form of insulation is swiftly becoming obsolete because of environmental awareness and new protocols. Prior to moving into your new home or apartment, if you locate any suspected asbestos in the home, most experts suggest leaving it un-disturbed until a home inspector can examine your property, take evaluations and determine the safest course of action. Sometimes the best action is no action at all. Disturbing asbestos in good condition may cause its fibers to be released into the air. The removal of asbestos must be undertaken by a professional abatement contractor who is trained in handling dangerous materials. Exposure to this material can lead to the development of mesothelioma, a lung ailment associated with asbestos exposure. For this reason, many people refer to it as a silent killer. Green Building Each and every human being would like clean air to breathe and crisp water to drink. It takes a lot of effort and political advocacy to achieve this on a macro level. The implementation of Eco-construction, green energy solutions will play an important role in the transformation to a healthier and sustainable world. There are many green, Eco-friendly materials that replace the need for asbestos and can reduce energy costs annually. These include the use of cotton fiber, lcynene foam and cellulose. Cotton fiber is quickly becoming a favorite for home builders and renovators. Made from recycled batted material, it is also treated to be fireproof. Research has demonstrated that the use of Eco-friendly insulation alternatives can reduce annual energy costs by 25 percent. Implementing green methods of building can have positive environmental, health and economic benefits. These include: Conservation of natural resources, enhancement of air quality, energy sustainability, increase property value, improve quality of life, improvement of pulmonary/cardiac health and reduction of waste.

This article has been provided and published with the express permission of Joe Lederman, Mesothelioma Center.

Located about 30 miles north of down town Atlanta, Suwanee GA has become nationally recognized as one of the best places to live in the United States.  The City of Suwanee has worked diligently over the past several years to create a very family-oriented community - and, they have succeeded. However, the City of Suwanee, like everywhere else, has not been untouched by the down turn in the housing market. The real eye opener came as I prepared this report and looked at the total homes sold in 2009 vs. 2007....a drop in units sold of 71%!!

And as "fun" as it is to look back at where we once came, it is important to spend more time looking forward. So as we open the door and welcome in 2010, we will no longer be a stranger to the foreclosure market. And, as real estate agents, most of us will be better prepared to take on the foreclosures now scheduled to hit our market in the next few months.

And the optimist in me tells me that the worst is behind us. No! I don't think property values will bounce back in the next year or so; but, we will eventually see the foreclosures absorbed and the housing market return to a "new" norm. But until then I believe Suwanee, like so many other places, will put their best foot forward and we will ride the peaks and valleys that lie ahead of us together.

Come to my house:
MySuwaneeHome.com

We close the door on 2009 and from my perspective if you are still in the real estate business you deserve a HUGE pat on the back. It was tough out there, but houses were selling. It became a huge dose of reality that if you wanted to survive you had to learn a new way of working AND be diligent. Equally I think this business has proven, at least for me that you never know it all – no matter how long you’ve been a Realtor®.

If you were a Seller during 2009, the year was probably an eye opener for you as well. Foreclosures dominated our market throughout the year and prices did plummet. And if you were a Seller fortunate enough to have good equity in your house like we do, then the depressed market values probably did not have the same emotional impact on you as the Seller who HAD to move and had very little equity in their house. To say MANY Sellers sold their houses in 2009 for LESS than what they purchased them for would be an understatement. And if you listed your house AT MARKET, you probably were in the statistics for EXPIRED listings.

Now if you were a Buyer, what was not to like? You were the beneficiary of great interest rates, so many homes to choose from that you could walk away if Seller #1 didn’t accept your original offer - knowing you could move on to Seller #2…and, sometimes even Seller #3…….  AND...benefit from the Georgia $1800 tax credit. Home pricing would have made any buyer giddy! And let’s not forget if you were a First Time Home Buyer you may have also been the recipient of the Fed’s $8000 tax credit.  Another reality was many Buyers looked more for "the deal" than the Buyer who was emotionally attached to the home they chose to place an offer on. Quite different from years gone by.

Let's take a look at how December closed out our year for the Atlanta real estate market:

What’s ahead of us for 2010?

• Rumor has it that another round of foreclosures will be out this spring
• Short sales will become an even more “normal” way of doing business.
• And if you have enjoyed low interest rates you will still continue to enjoy the lower interest rates but not the rates that have been with us for the past couple years (or more).
• Predictions are that we will see interest rates tick up a couple percentage points. 
• We will see changes in FHA loans this spring
• The end to the tax credits So let’s see how we closed out the year for 2009

Come to my house:
MySuwaneeHome.com

Market Reports for 2009