The results for the Atlanta real estate market were mixed for the month of May. The number of homes CLOSED were up; and the speculation, of course, is this is a result of the First Time Home Buyer Tax Credit coming to an end. And with the end of the tax credit we see PENDING sales are down. According to Steve Palm with Smart Numbers "under contracts for all single family declined almost 22% in May 2010 vs. May 2009." (June 20, 2010).

The Atlanta real estate market continues to struggle. However there is, as you will see, a substantial dip in the number of foreclosure sales both in detached and attached single family homes (21% and 27% respectively). I still hear the buzz that banks are holding back, working on loan modifications etc. We are seeing a definite increase in the OH SO FAMOUS - Short Sale. Not a road to travel down for the weary home buyer that is for sure.

Collectively in the real estate market, I think we are seeing more real estate agents scratching their heads wondering when will this ever end. Unemployment for Atlanta still remains high, new construction is still down providing less new home options to buyers. In fact, I had a buyer in town this past week looking for a home in the Suwanee area. Their preference was up to $260,000 "new construction."  I had two neighborhoods to show him - that's it. Ryland Homes has, surprisingly, started a new development in Suwanee; but, I will be interested to see how many spec homes actually get started. Three Bridges is a gated mix community of manor homes and town homes. Because the builder has independent investors, they also continue to build - They build one; sell it; build another - one home at a time. Probably safest method until we begin to at least see a glimmer of light at the end of the tunnel.

But the sun will continue to come up and it is important to stay focused and positive. This business is not for the faint of heart that is for sure. And if you are a buyer or seller who has stepped out in the real estate arena: be informed, be patient and most of all be realistic in your expectations. 

The good news is......interest rates are still great!!!

See! There is something to smile about!!!

Let's take a look at Atlanta's real estate market for 2010

 
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Statistical data in this report is provided by FMLS (First Multiple Listing Service).
Information is believed to be accurate at time of collecting but is not guaranteed.

These are are precarious times in our great country. 
In my life time I don't know if I have seen such a
division as I witness today.

But I have faith in this - the greatest country in the
world AND the people who live here.

I believe we will move through these challenging
times and be stronger for it.

A great quote from Joseph Addison:

"Let freedom never perish in your hands."

I may be a bit delayed in sharing with you the the events that took place a couple weeks ago as Suwanee celebrated the opening of one more fabulous City park - White Street Park; but the excitement still lingers.

Unlike any other of its kind in the area, this is a community garden. Many of us came together back in April where we drilled holes in the pre-cut wood - which would become our garden boxes, assembled the planting boxes, dug holes in the dirt, set the planting boxes in the holes, spread rock, filled the boxes with quality planting soil. And when the labor of love was complete, the excitement rose to a whole new level as we began planting our flowers and vegetables.

In total construction of the community garden's 76 initial plots required:

• more than 500 volunteer hours
• 3.5 days
• 2,940 linear feet of lumber
• 912 bolts
• 36 tons of slate chips
• 3 tandem loads of soil

You see White Street Park is an organic community garden and Georgia's largest organic community garden. There are approximately 76 garden plots and the premise is based on square foot gardening. You may be asking yourself what is square foot gardening and I must admit I had not a clue until I became involved. It is quite simple actually. Essentially you divide your planting area up into 12 inch plots and within each square you plant either flowers or vegetables. It has been quite a rewarding experience I must admit. And probably some of the most fun comes from visiting the garden throughout the week to see what is growing but also to see what new creative garden decor someone has added to their plot.

As the Grand Opening was upon us many of the plots were in full bloom and the plants were majestic! The day's event included walking through the newly created butterfly garden, face painting for young and old alike, kids making lady bugs from crafts, cook out and so much more.

Finishing touches continue at White Street Park. We anxiously await the arrival of our resident chicks. Our hen house will be cared for by the gardners on a weekly rotation. Eggs laid during "your watch" will be yours to take home and enjoy with your family. I understand there was a contest in naming the chicks during the Grand Opening but I haven't heard the results.

As much fun as this has been and I feel certain it will continue to be, as gardners at the White Street Park, we will have the honor of sharing our produce with the local food bank as part of our giving back to the City of Suwanee and the residents of Suwanee.

Slideshow: White St. Pk Grand Opening: Comm Gardens - Slideshow





Come to my house:
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