REAL ESTATE GAB - Keeping up on today's real estate market isn't easy. However, monthly MySUWANEEHome, provides updated information in multiple medias to help keep you informed. Real Estate Gab is a monthly real estate newsletter with market statistics for the Metro Atlanta area; plus articles to help you be an informed buyer or seller. Hope you will enjoy this month's issue of Real Estate Gab. Please feel to email me with comments and/or ideas of what you would like to see in feature issues.
METRO ATLANTA - REAL ESTATE GAB - NOVEMBER 2011
0 comments • Janice Slaven, Suwanee Georgia Real Estate • November 02 2011 01:23PMWhere Are Home Values Headed For Metro Atlanta?
It can be very confusing these days to filter through all the news about the housing market. The sensationalist national headlines may sell advertising but are often wrong or misleading for Metro Atlanta or your local market. To further complicate matters, the typical metrics used to track real estate trends do not tell the accurate story in the current market.
- Did you know that over 50% of all transactions in 2011 have been under $125,000? That has historically been around 10-15% of the market.
- Did you know that approximately 60% of all transactions are foreclosures or short sales? That is also normally 10-15% of the market.
- Did you know that many bank-owned properties are selling above their list prices?
These changing trends make the traditional metrics for real estate unreliable. Ratios like average sale prices, median sale prices or list-to-sale ratios can be very misleading. One metric we like to track is the “previous sold price” to “current sold price” ratio. We believe that is a more accurate approach to considering home values. This is the method used by the Case-Shiller Index. Each month, we write a detailed article which explains the latest Case-Shiller results for metro Atlanta.
Click here to see the most recent article
The Case-Shiller index is a good indicator for Metro Atlanta home values. But real estate is local and every market is different. I have access to proprietary information resources and can help you determine the most accurate value for your property.
3 comments • Janice Slaven, Suwanee Georgia Real Estate • October 26 2011 03:44PMMETRO ATLANTA - Housing Market Really Improving?
A recent article out by Rismedia indicates there are a few indicators showing there is some improvement in our housing market - although regionally.
- 15% increase in September housing starts
- Increase in mortgage applications
I think it would be safe to say, with regards to our local Metro Atlanta market, housing prices are beginning to stabilize thus taking us out of the "declining market" status. Additionally, in some metro counties, we are beginning to see a gradual increase in new housing starts from some of the nationally recognized builders like Ryland Homes and Beazer Homes. The markets that continue to struggle, according to the article by Rismedia, is Oregon, Washington and California.
Want to read more?
Housing Starts Rise in September
MBA Shows Mortgage Applications Increase
Source: Rismedia - Multiple Signs Point to Rebound
0 comments • Janice Slaven, Suwanee Georgia Real Estate • October 25 2011 11:07AMMETRO ATLANTA - OCT 2011 - FORECLOSURES - GWINNETT RANKS AT TOP
Realty Trac released new reports week-ending October 15. Their current report shows Georgia fourth in the nation for foreclosures. Their numbers include default notices, auctions and bank repossessions. Notably, due to missteps by lenders, foreclosure filings have been artificially down during 2011. However, lenders have worked to correct their processing of potential mortgage defaults; and as a result, it is likely we will see an uptick in foreclosures nationwide in coming months.
Currently one in every 121 homes shows a foreclosure filing in Georgia; with one in 89 homes in Metro Atlanta showing a foreclosure filing. Foreclosure notices for October is up 16% compared to September. As a non-judicial state, homes are sold on the court house steps in Georgia the first Tuesday of each month.
Foreclosure rankings for the Metro Atlanta area county by county
(highest to lowest)
1) Gwinnett - 1,889
2) Fulton - 1,632
3) DeKalb - 1,377
4) Cobb - 977
5) Clayton - 750
6) Henry - 527
7) Cherokee - 363
8) Douglas - 315
9) Forsyth - 256
10) Hall - 252
11) Rockdale - 217
12) Bartow - 155
13) Fayette - 135
0 comments • Janice Slaven, Suwanee Georgia Real Estate • October 19 2011 11:30AMMetro Atlanta - Suwanee GA - Real Estate Gab September 2011
REAL ESTATE GAB - Keeping up with today's Metro Atlanta real estate market, as well as the surrounding areas, like Suwanee, isn't easy. However, my monthly issue of Real Estate Gab provides updated statistical market information about Metro Atlanta and the counties of: Gwinnett, Forsyth, Fulton and Hall; plus articles to help you be an informed buyer or seller.
Hope you will enjoy this month's issue of Real Estate Gab. Please feel to email me with comments and/or ideas of what you would like to see in feature issues: Contact Janice
Looking for more real estate market information? Click on the map or link below
REAL ESTATE NEWSLETTER & MORTGAGE CENTER
0 comments • Janice Slaven, Suwanee Georgia Real Estate • September 17 2011 09:12AMMetro Atlanta GA - How Do You Determine Home Values?
METRO ATLANTA VALUES PEAKED IN JULY 2007
CURRENT VALUES DOWN 27.93%
It can be very confusing these days with lots of real estate news on television, in the local papers and posted online. So how do you determine what your home is really worth or a home you are considering purchasing?
The traditional metrics that track the real estate market include things like “average sale price” or the “median price” which is the price in the middle of the group. These are good reflections of what is being sold but often poor reflections of the values for homes. In 2011, SmartNumbers reports that almost 50% of properties sold are under $100,000. The normal distribution of homes in this price range is around 10-15%. This abnormal distribution skews the average prices and median prices much lower.
Another method of estimating values is the Case-Shiller Index which uses repeat sales. That is a more accurate measure of home values. The latest Case-Shiller Index reflects that home values are down 27.93% from their peak of July 2007.
Another index that we like is the FNC Residential Property Index. This index uses a combination of market data and appraisal data used in loan originations. The index also shows that July 2007 was the peak for Metro Atlanta. RPI shows that Metro Atlanta home values have dropped 33.88% from the peak. Both these indexes report on Metro Atlanta.
But we all know that real estate is local. Values and trends in local markets will vary. So in trying determine the value of your particular home you must have access to very detailed local (city, neighborhood) information and insight which can help you determine the most accurate values so you can make the best real estate decisions.
Despite the numbers, homes are selling. When you take the time to become informed, take time to plan...success can be yours in spite of the "numbers."
5 comments • Janice Slaven, Suwanee Georgia Real Estate • August 25 2011 01:07PMATLANTA REAL ESTATE MARKET - JUNE 2011 vs JUNE 2010
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ATLANTA
REAL ESTATE MARKET REPORT |
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Despite what you may be feeling, economists are beginning to paint a rosey picture for the housing market. Freddie Mac expects housing sales to out pace 2010 homes sales by 3 to 5%. I would say sales the first half of 2011 do appear to be steady, but when you start looking at the average sales price.....ah! Not so much to get excited about. Gwinnett County average sales price was down 21% from one year ago while neighboring Fulton County was up 7%. Home sales are predicted to continue on the up tick through 2012 although mortgage rates will continue to keep the pace a bit shaky rising to a projected 5.5% by the end of 2011 and 6% in 2012. Source: |
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NUMBER OF HOMES |
| The number of homes on the market in June 2011 is down 17% over last year; but homes pending is up 56% so one could surmise that inventory levels are leveling out while buyers are taking advantage of pricing and interest rates. |
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AVERAGE
PRICE PER SQUARE FOOT |
| The Atlanta housing market has been removed from the "depressed" market category by most lenders. However, there are still some areas of Atlanta that are still considered declining and this does have an impact in loan down payment requirements. It is important to know before you buy if you are looking in a depressed area or not. Once again you can see the average price per square foot for the month of June is down 5% over one year ago. However, what IS exciting, looking at this graph, is the Atlanta market has been trending upward since the first of the year. We are up 14% since January of this year. |
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AVERAGE
DAYS ON MARKET |
| WOW! You can't help but like these numbers. The average days on market for June 2011 is down 27% from one year ago. That is very happy news for any home owner trying to sell. Couple that with the fact that although we are not where we once were, the list to sale price has held fairly steady compared to one year ago at 89% sale to ORIGINAL list price. There was a slight tick downward towards the end of 2010 but overall you can see stabilization taking place. |
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MONTHS
of INVENTORY |
| The stabilizing of inventory levels will continue to help home values but not enough to give any of us the green light indicating a full blown housing recovery. With uncertainty in the economy, high gas prices and...for Atlanta continued high unemployment, it is difficult to see much improvement. Until many of the economic indicators start to improve, it is my opinion we won't have much to get excited about in our local housing market...EXCEPT the INTEREST RATES! |
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Graphs created with permission from Trendgraphix, Inc.
0 comments • Janice Slaven, Suwanee Georgia Real Estate • July 20 2011 10:58AMATLANTA REAL ESTATE MARKET REPORT - APRIL 2011 vs APRIL 2010
| Atlanta home property values now projected to be at 1999 levels! The Case-Shiller Index just out shows - at the national level - an approximate decrease in overall property values of 4%. So...where is the bottom? I don't think we are there quite yet. The first quarter of this year started out pretty fiesty! Homes were selling and real estate agents were busy - at least some of us. So what happened? Now we have the housing activity back to a tortoise pace. The upside is the interest rates. They still remain low; so the theory remains: If you do decide to sell your house in the current housing market environment, you will loose equity gained when the housing market was good. However, when you become the buyer, you should benefit from lower housing prices thus making up for the loss of equity you experienced on the sale of your house. Plus!!! The historically low interest rates are still worth "making the move!". No doubt it is hard for most of us to get our head around that theory but if we all wait until the market improves.....guess what? You may get more for your house but you will pay more the house you buy AND be prepared to finance that new house at a higher interest rate than we are enjoying today. |
NUMBER OF HOMES
SINGLE FAMILY DETACHED
APRIL 2010 - APRIL 2011
(Data: FMLS)
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AVERAGE PRICE PER SQUARE FOOT
Single Family Detached
April 2010 through April 2011
(Data from FMLS)
As already discussed, the gain in home values continues to struggle in our Atlanta housing market. April saw an overall decline of approximately 8% in our home sold prices. Overall the Atlanta real estate market has been removed from the "depressed" market category by most lenders. However, there are still some areas of Atlanta that are still considered declining and this does have an impact in loan down payment requirements. It is important to know before you buy if you are looking in a "depressed" area or not.
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AVERAGE DAYS ON MARKET
Single Family Detached Homes
April 2010 through April 2011
(Data from FMLS)
The average days on market for April 2011 is up from the average days on market for March, 2011; but it is down from one year ago by 12%. The days on market for April 2011 was an average of 117 days. I continue to say, "It is a beauty contest and a price war. You have to win both."
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MONTHS of INVENTORY
Single Family Detached Homes
April 2010 through April 2011
(Date from FMLS)
Months of invenotry made a slight increase compared to one year ago. The stabilizing of inventory levels is helping home values but not enough to give any of us the green light indicating a housing recovery. With uneasyness in the economy, high gas prices and...for Atlanta continued high unemployment, it is difficult to see much improvement. Until many of the economic indicators start to improve, it is my opinion we won't have much to get excited about in our local housing market...EXCEPT the INTEREST RATES!
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Graphs created with permission from Trendgraphix, Inc.
0 comments • Janice Slaven, Suwanee Georgia Real Estate • June 02 2011 01:48PMATLANTA GA - JANUARY 2011 MARKET REPORT
ATLANTA MARKET REPORT
(January, 2011)
The number of homes sold was down according to Trendgraphix when compared to January a year ago. This is hopefully not going to be an indicator of things to come for 2011 in our local Atlanta real estate market. As the graph indicates, 41,516 units sold in the month of January, 2011 which is down approximately (-) 0.05% from January 2010.
NUMBER OF HOMES
ALL SINGLE FAMILY HOMES (DETACHED & ATTACHED)
January 2010 through January 2011
Home pricing in the Atlanta market did begin to stabilize in 2010 - not appreciate - but stabilize. Despite that the price per square foot on homes sold for the month of January, 2011 showed a decline of approximately (-) 0.9%. And, although we don't expect to see home values appreciate in 2011, if you are a home owner who would like to sell, homes are selling and it is still a good time. Although your home may have lost equity, you should make up the loss on the purchase of a new home. And, most certainly you will enjoy the continued historically low interest rates.
AVERAGE PRICE PER SQ FOOT
ALL SINGLE FAMILY HOMES (DETACHED & ATTACHED)
January 2010 through January 2011
The average days on market for Atlanta didn't change too much for the first month of 2011 - an overall slight increase of (+) 0.03%
AVERAGE DAYS ON MARKET (Sale Price/Original List Price %)
ALL SINGLE FAMILY HOMES (DETACHED & ATTACHED)
January 2010 through January 2011
The good news.....months of inventory has dropped approximtely (-) .12%. Some would argue that home owners who do not have to sell have helped the inventory levels thus also stabilizing home pricing. I would tend to concur with that observation but I would also add the fact that banks are holding distressed inventory is also a contributing factors. I think what we will see in 2011, is more short sales vs. foreclosures. We will see new starts coming out of the groung - not like before...but builders will start testing the Atlanta market in 2011.
MONTHS OF INVENTORY
ALL SINGLE FAMILY HOMES (DETACHED & ATTACHED)
January 2010 through January 2011
Graphs created by Trendgraphix
0 comments • Janice Slaven, Suwanee Georgia Real Estate • March 11 2011 04:00PMATLANTA GA - December 2010 Real Estate Market vs December 2009
I am trying a different approach for the month of December. The charts in this report I have created through Trendgraphix, Inc. This will enable you to not only see the Atlanta real estate market activity for December 2010 vs. December 2009 but it will also allow you to see the trending that has taken place throughout 2010.
And the voices are many as we jump start 2011. And, they are not necessarily singing in unison - no big surprise! I have decided it is like looking into a crystal ball. There are so many facets which will play into fueling the recovery of the housing market so it makes sense predictions are just that....predictions! And, each real estate market is different and every market has been impacted differently.
According to Dan Forsman, CEO of Prudential Gerogia Realty, Atlanta real estate prices did not go up like Florida or Arizona. We did not see a flood of speculators buying properties. But instead the Atlanta market has been hampered by the new homes bubble, large number of foreclosures and short sales and a reduction of buying activity. The Atlanta market had consistently been at the top of the list for the new homes market - topping in 2006. Smart Numbers (Marietta GA) noted that the new homes market was headed for trouble in the spring of 2006 due to the increse of lot costs thus causing new home pricing to start rising quickly while builders margins were shrinking. Plus the easy qualifying for buyers and down payment assistance programs allowed buyers to keep paying these higher prices. Thus, the bubble continued to build. As the market slowed, aggressive pricing from resales and foreclosures made it difficult for builders to compete. By 2009 new home starts were down over 80% from peak levels. Realty Trac projected Georgia ranked 7th in the nation for foreclosures; with pre-foreclosures running around 10,000 month average with more to come. What we can all agree upon is: "There is no place but up..."
What I can tell you driving around my market area of Gwinnett, Forsyth, Hall and Fulton counties....I am seeing new construction starts. Who would have thought. No doubt these starts are NOT vigorous. It is evident that the builders are stepping lightly and cautiously. One community I was in today, the Builder, Acadia Homes , has bought the lots left by Bowen Homes. There are two inventory homes completed with no starts coming out of the ground. And, as I understand from a homeowner, the homes have been completed for two months. I see the same process with Ryland Homes. They have several communities - about 14 communities - in the metro area. But they also are building slowly and cautiously. Beazer Homes is also another one with new starts in the area. The pattern I see: Track builders are stepping out into the metro Atlanta real estate market but the custom builders are no where to be seen.
So let's look back. The report you will be looking at, as I mentioned, is generated from Trendgraphix, Inc. I have each of the screens reflecting from December 2009 THROUGH December 2010. This format will allow you to see the trending for 2010. Let me know what you think.
DECEMBER 2010
DETACHED
**FORECLOSURES (NUMBER OF HOMES) -
December 2009 vs December 2010 (Not reflected in chart above)
- (Dec, 2009) 3,787 vs. 4,158 (Dec, 2010)
- For Sale: ^9.8%
- Sold: v21.5%
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**FORECLOSURES (AVERAGE PRICE PER SQUARE FOOT)-
December 2009 vs December 2010 (Not reflected in chart above)
- (December 2009) $62/sq ft vs $58/sq ft (December 2010)
- Change: v 5.5%
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**FORECLOSURES (SALES PRICE vs ORIGINAL LIST PRICE % -
December 2009 vs December 2010 (NOT reflected in chart above)
- Average CDOM (Cummulative Days on Market)
(December 2009) - 128 CDOM vs (December 2010) - 107 CDOM - Sold Price/Original List Price %
(December 2009) - 86% Sold Price vs Original List Price vs (December 2010) - 85% Sold Price vs Original List Price
Change SOLD PRICE/ORIGINAL LIST PRICE %: v 1.2%
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**FORECLOSURES (AVERAGE PRICE IN $,000's) -
December 2009 vs December 2010 (NOT reflected inchart above)
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**FORECLOSURES (MONTHS OF INVENTORY) -
December 2009 vs December 2010 (NOT reflected in chart above)
- December 2009 3.6 months vs December 2010 5.1 months
- % Change: ^ 39.9%
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Charts were created by Janice Slaven using Trendgraphix, Inc. Permission is granted through agreement between Prudential GA Realty and Trandgraphix, Inc.
All informaiton is believed to be accurate but is not guaranteed.
6 comments • Janice Slaven, Suwanee Georgia Real Estate • January 24 2011 06:38PMContent © 2009 'Frequent Contributors'. Design © 2009 ActiveRain Corp.
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