Barry's Real Estate Blog

Luxury Townhome for Sale in Smyrna, GA in Old Atlanta Station

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Tue, 14 Jul 2009 18:11:35 -0500

3955 Old Atlanta Station Court, Smyrna, GA 30080

Great location, excellent condition and an affordable price! This is a fantastic townhome with 3 large bedrooms and 3.5 bathrooms. Located in the city of Smyrna in Cobb County in the Old Atlanta Station complex off Atlanta Road.

Overview of the Area:

3955 Old Atlanta Station is located off Atlanta Road just inside the perimeter. It is less than 1 mile from I-285 and offers easy access to downtown Atlanta, the Galleria area, Buckhead and the airport. The townhome is located in the highly sought after Cobb County school system. The schools are Nickajack Elementary, Campbell Middle and Campbell High School.

Click here for a map of this home's location.

Overview of Main Floor:

As you enter the home, you'll notice the lovely designer colors and earth tones. This home has crown moulding and all of the touches you would expect in a luxury townhome. There are hardwood floors through the main level as well.

The dining room is located off the entry and features large windows with lots of sunlight. The kitchen is a dream with maple cabinets, granite counter and tile backsplash as well as stainless steel appliances. The kitchen also has a breakfast bar and opens to the family room with shared two-sided fireplace.

The family room is large and provides access to the private deck. There is also a half bath on the main floor.

Overview of Upper Floor:

There are two large bedrooms are upstairs. The master has a try ceiling and large master beathroom. The master bathroom has a double sink vanity, garden tub and shower as well as a walk-in closet. The second bedroom offers a large sitting area, walkin closet and private bathroom. The laundry room is also located upstairs.

Overview of Basement:

The basement level is completely finished and can be used as a media room, playroom or office or third bedroom. The basement has a full bathroom and closet space. Also located on this level is the two car garage.

Miscellaneous:

The HOA dues are $195 per month and include water, trash, termite coverage and exterior maintenance.

Price:

This townhome home is currently being offer at $300,000. ULTIMATE BUYER'S PACKAGE: $10,000 closing costs + 6 months HOA dues paid by Seller with contract by Nov. 30, 2009. ACT NOW!

Enjoy,

The Voice of North Atlanta Real Estate

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2 Bedroom Condo For Sale at 5061 Avalon Drive in Alpharetta GA

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Tue, 14 Jul 2009 18:14:26 -0500

For more information or to schedule a tour of the home, please contact Barry Wolfert at 770-656-7551 or email me.

5061 Avalon Drive, Alpharetta, GA 30005

Click for a Virtual Tour.

Great location, excellent condition and an affordable price! This is a fantastic condo with 2 large bedrooms and 2 full bathrooms. Located in Alpharetta in Fulton County in the Camden Pond complex off Old Milton Parkway.

Overview of the Area:

5061 Avalon Drive is located off Old Milton Parkwway and less than two miles form GA-400. It is approximately five miles from North Pointe Mall and offers easy access to Atlanta, Roswell, downtown Alpharetta, Cumming and the Perimeter areas. This condo is located in the Fulton County school system. The schools are Creek View Elementary, Webb Bridge Middle and Alpharetta High School.

Click here for a map of this home's location.

Overview:

The first great feature of this condo is that it is located on the ground level and offers a stepless entry. As you enter the home, you'll notice the open floor plan and large family room featuring a fireplace. Access the covered patio is also off the family room.

The kitchen is a open and features lots of windows plus a large breakfast area.

This condo offers two large bedrooms which can be used as a master and guest room or as a roommate plan. The master bathroom has two separate vanities, jacuzzi tub and separate shower. There is also a walk-in closet in the master. The second bedroom offers a large bay window and closet. The second full bathroom is directly outside this bedroom. The laundry room is located off the hallway and the washer and dryer are included in the sale.

This unit also comes with two assigned parking spaces directly in front. The side entry offers more privacy as well.

Miscellaneous:

The HOA dues are $225 per month and include water, trash, termite coverage and exterior maintenance and swim and tennis privileges.

Price:

This condo is currently being offer at $116,000.

Enjoy,

The Voice of North Atlanta Real Estate

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Home Buyer Tip #5-Buy or Sell First

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Mon, 16 Nov 2009 08:50:23 -0600

These tips answer many common home buyer questions. They apply to whether your buying a high rise condo in Atlanta, a townhome in Smyrna or a single family home in Marietta or anywhere in Georgia.

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The classic dilemma for many homeowners is whether to buy or sell first.

There is no “right” answer. It depends on your specific circumstances and finances.

Most homeowners agree that it’s more prudent and less stressful if you sell your existing home before you buy a new one. However, if a great buying opportunity presents itself, you might consider buying first. Then, you can be more aggressive in selling your current home knowing you have already secured a good deal on the buying side.

If you sell your current home first but haven’t found the right new home, you may need to rent for a period of time until you find the right home. Having cash in hand is always an advantage and may allow you to negotiate better terms since you are now waiting for your other home to sell. No one wants to move twice but sometimes it can have an advantage.

If you currently own a home, I would be happy to provide you with a current market valuation so you know what your home is worth today. I can provide you with a precise valuation by briefly visiting your home.

Please call or email me when you’re ready to discuss your options or if you would like a valuation of your current home. Please don’t hesitate to contact me if I can answer any questions.

All Home Buyer Tips

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Home Buyer Tip #4-Items To Consider

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Mon, 16 Nov 2009 08:47:31 -0600

These tips answer many common home buyer questions. They apply to whether your buying a high rise condo in Atlanta, a townhome in Smyrna or a single family home in Marietta or anywhere in Georgia.

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When we begin looking for a home, we often get wrapped up in the physical details like style, the number of bedrooms and bathrooms, and amenities. But we don’t always consider the quality of life issues that may impact your ability to enjoy the home. Here are some other things you should keep in mind:

* Transportation is an important consideration that’s often overlooked. Consider traffic flow and commute time.

* Recreational facilities such as playgrounds, parks, and pools are important to many people. Are they nearby? Is there a fee for these amenities?

* How far is the grocery store, day care and school?

Be realistic. There are no perfect homes. Decide what’s most important to you, and make sure you find a home that has the essential features that you require. Be prepared to compromise on some of the items on your wish list in order to get others.

As your personal real estate consultant, I will help you identify the key items and assist you in prioritizing them. When you’re ready to purchase a home, I’ll be happy to answer any questions and help you find a house that truly feels like a home to you.

Please don’t hesitate to contact me if I can answer any questions.

All Home Buyer Tips

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Home Buyer Tip #3-Making A Move

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Mon, 16 Nov 2009 08:42:53 -0600

These tips answer many common home buyer questions. They apply to whether your buying a high rise condo in Atlanta, a townhome in Smyrna or a single family home in Marietta or anywhere in Georgia.

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When you’re thinking about making a move, here are a few things you should consider:

* Being clear on why you are moving.

* Deciding when you want to make your move.

* Considering how much money you would like to spend.

* Thinking about what type of home you would like .

* Deciding where you would like to live.

The next step is usually finding out how much you can qualify for and deciding the type of financing that will work best for you. I am happy to refer you lenders I work with who can answer your questions and get you pre-approved.

As you get more serious about buying, you will want to speak with a lender about getting pre-approved. The lender will determine how much you can borrow based on financial information you provide.

Once you’re ready to start the process, I’d be happy to meet with you help outline your goals and needs and discuss the what to expect during the buying process. Please don’t hesitate to call or email me for additional information about the buying process. My goal is to provide you with practical information as you consider your next move. And, when you’re ready to make your move, I’ll help you find your dream home and handle all the details of the transaction, so all you need to do is pack!

Please don’t hesitate to contact me if I can answer any questions.

All Home Buyer Tips

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Home Buyer Tip #2-Wish List

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Tue, 10 Nov 2009 09:00:04 -0600

These tips answer many common home buyer questions. They apply to whether your buying a high rise condo in Atlanta, a townhome in Smyrna or a single family home in Marietta or anywhere in Georgia.

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What type of home are you looking for?

There are so many factors to consider that it is important to have an idea of what you want and need before you begin looking. As a real estate professional, part of the service I provide is to assist you in making a checklist of your needs and prioritizing this list with you.

The list below may help you clarify your thinking on what is important to you when you are ready to purchase.

* What type of neighborhood would you like to live in?

* What monthly payment are you comfortable with?

* What type of home interests you? (one-story, two-story, split-entry, townhouse, condo)

* What style appeals to you? (contemporary, traditional, ranch)

* Are schools a factor?

* How long of a commute are you comfortable with?

* How many bedrooms and bathrooms do you need? How many do you want?

* What features are important to you? (basement, fenced yard, office, etc.)

* What about exterior features such as # of garages, corner lot, cul de sac?

* Which of these are MUST have and which are NICE to have?

When you are ready to start your search, I will be happy to help you find a home that meets your needs. My goal is to make this a fun and enjoyable experience and to use my experience to find you the right home.

Please don’t hesitate to contact me if I can answer any questions.

All Home Buyer Tips

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Home Buyer Tax Credit Extended and Expanded

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Tue, 10 Nov 2009 08:57:29 -0600

President Obama signed the bill extending and expanding the home buyer tax credit. The credit was part of a bill that included more aid for jobless workers and broadened tax breaks for businesses. The measure passed the House by a vote of 403 to 12, one day after it was unanimously approved by the Senate.

HOME BUYER CREDIT EXTENDED

The bill also extends the $8,000 tax credit for first-time home buyers until April 30, 2010. The credit was previously set to expire on November 30, 2009. The new law expands the credit to cover more affluent buyers. The bill will raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

HOME BUYER CREDIT EXPANDED

The new bill also creates a new $6,500 credit for repeat buyers who have been in their current home for at least five years.

The credit will be available only for the purchase of principal residences priced at $800,000 or less.

The credit does not have to be repaid as long as you stay in the house is your principal residence for three years after the purchase date. However, this would not apply in the case of a member of the Armed Forces, military intelligence or Foreign Service who is on extended duty. In addition, members of the military who have been deployed overseas for 90 days or more in 2008 or 2009 would have until April 30, 2011, to claim the home buyer tax credit.

INTEREST RATES FALL BELOW 5%

The Mortgage Bankers Association said rates on 30-year fixed-rate mortgages fell below 5% for the first time in four weeks. The 5% level is something of a psychological tipping point, typically sparking home loan refinancing activity.

The MBA said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week to Oct. 30 increased 8.2% to 608.3. Low mortgage rates, high affordability and the federal government’s $8,000 tax credit for first-time home buyers – part of the stimulus bill – have helped pave the way for stabilization.

The National Association of Realtors said pending sales of previously owned U.S. homes unexpectedly rose in September to their highest level in nearly three years ahead of the Nov. 30 expiration of the tax credit.

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Home Buyer Tip #1-Buying A Home

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Tue, 10 Nov 2009 08:55:12 -0600

These tips answer many common home buyer questions. They apply to whether your buying a high rise condo in Atlanta, a townhome in Smyrna or a single family home in Marietta or anywhere in Georgia.

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When is the right time to buy?

People buy homes for a variety of reasons. Some want to become established in a community or to provide a more permanent home for their family. Others are motivated by good schools or commute time. And, many know that real estate is a good long-term investment.

There are many advantages to home ownership:

* Appreciation–Your home can increase in value over time, increasing your equity and your

personal net worth.

* Space–A house generally offers you more living space than a rental apartment, along with the ability to remodel the existing space or add on.

* Enjoyment–Plain and simple, most homeowners take a great deal of pride in knowing they own their own home.

* Financial–In most cases, the mortgage interest you pay is tax deductible.

When you are ready to purchase a home, I welcome the opportunity to help you. Please don’t hesitate to contact me if I can answer any questions.

All Home Buyer Tips

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Re/Max Communities Becomes Atlanta Communities Real Estate Brokerage

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Mon, 02 Nov 2009 08:59:30 -0600

Effective October 30, 2009, Re/Max Communities will officially become Atlanta Communities Real Estate Brokerage. Having opened in 1990 as a Re/Max franchise, this office has been ranked as one of the top companies and real estate brokerages in Atlanta. In fact, from 2002-2004, Re/Max Communities was the largest franchise office worldwide out of over 4,200 offices in 43 countries.

Positioning the company to react ahead of changes in the market and not after the fact, has been the focus of the owners since the beginning. As we are in the midst of one of the most challenging times in the real estate industry, now is the time to innovate and and evolve. Real estate is local, high-touch, relationship driven profession and business models must evolve to reflect this reality in order to better serve our clients.

To that end, the broker/owners decided that the revenues spent by the company and charged to the agents in order to belong to a national franchise should be re-directed to local marketing efforts that actually provide results and strengthen our client relationships and value. All company principals and staff will remain the same. Both of our office locations (Johnson Ferry Road in Marietta and Barrett Parkway in Kennesaw) will remain the same. In essence, all of the key components that have made this company a leader in the market will not change. By becoming an independent organization, the agents will now be free to innovate and stay ahead of the market.

This transition will be seamless for all clients. The transition is in progress and listings are being moved over to the new company name in both MLS systems. In the next week, you will see our yard signs pop up all over the city. And, in a few weeks, it will seem as if Atlanta Communities was always here.

All of my contact information (cell, fax, email, website, etc) remains the same as before. Our office phone number will change to 770-240-2001 and my extension is 385. I look forward to continuing to serve everyone who is looking to buy or sell a home in the north Atlanta area.

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2009 Home Buyer Tax Credit Extension Gets Preliminary Approval in Senate

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Mon, 02 Nov 2009 08:57:02 -0600

According to WSJ.com, Senate negotiators reached a tentative deal to extend a tax credit for first-time home buyers, but its passage remains uncertain.

The agreement would extend the existing credit for first-time home buyers, worth up to $8,000, while offering a new credit of up to $6,500 for some existing homeowners. The reduced credit would be available to all home buyers who have been in their current residence for a consecutive five-year period in the past eight years.

The new provisions are aimed at broadening availability of the credit beyond first-time buyers and giving the weakened real-estate market a bigger boost while preventing real-estate investors from benefiting. Many property experts have cited the credit as a reason for signs of recovery in the housing market in recent months. But that recovery was somewhat undercut by the September drop in new-home sales reported Wednesday.

The credit would be extended from its current expiration date of Dec. 1 to all contracts entered into by April 30, and closed before July 1. It is expected that income limits on people claiming the credit would be increased to $125,000 for singles and $250,000 for couples, from the current $75,000 and $150,000, aides said. The credit phases out for people making more than those amounts.

While Senate lawmakers appear to have reached a deal on the substance of the tax credit, they are still at odds over how it would be brought to the Senate floor. Senate Majority Leader Harry Reid (D., Nev.) hopes to add it to a bill currently on the Senate floor to extend federal unemployment insurance benefits. But agreement on that hasn’t been finalized.

Bloomberg News adds:

At this time, it is believed that the credit will allow anyone purchasing (even if the property is not closed) a home by April 30, 2010 to participate and receive the full credit available. The credit will be continued (but reduced by 2% each 90 days) through the end of 2010! The credit will be slightly lessened, but it will be renewed and this extension should allow the market to continue to recover into and through next summer’s selling season. Of course, there’s always the possibility that it could be renewed at that time, as well.

The credit would be cut slightly to a $7,290 cap. Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples.

BusinessWeek.com added this qualifier but I have not seen it mentioned anywhere else:

* The credit could only be used for homes selling for $800,000 or less.

CNN.com states:

House Speaker Nancy Pelosi has indicated she also is interested in extending the homeowner credit, but House leaders have yet to endorse any one bill.

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As you can see, in the 12 hours since this news has been released, there are several versions being reported. I am sure we will get more details and facts in the next few days. The good news is that is appears the tax credit will get extended and enhanced in some form.

It is unlikely that the Georgia state tax credit will be extended beyond November 30, 2009.

This is a compilation of information gathered from Bloomberg.com, CNN.com, BusinessWeek.com and WSJ.com.

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Atlanta, GA Housing Market Review

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Mon, 02 Nov 2009 08:54:15 -0600

The most common questions I am asked are: Is the market getting any better and is activity picking up?

The problem in providing an answer is that is really depends on the day you ask. Over the last 12 months, there really has been any consistent trend in the market. Some weeks see lots of activity and interest while others have no activity. It has been this lack of consistency that has made this such a difficult market.

Positive News

Interest rates continue to be low (in the high 4%/low 5% range) and the $8000 federal tax credit for first time buyers and $1800 Georgia state tax credit for all buyers are good until the end of November. In fact, houses are probably the most affordable they’ve ever been. And, if you’re a home buyer, it’s still a buyer’s market.

On The Other Hand

National unemployment in about 10% and Georgia’s is slightly over 10%. Job losses and uncertainty have undermined the confidence of home buyers. In addition, while money is cheap, it is also still difficult to get a mortgage if your credit is not very good.

To get a clear picture of the overall Atlanta market, I have broken down the sales trends for 2006 through 2008. For 2009, I kept my original analysis period of January thru April and have added May thru September. This way you can see how the year is trending. The chart below shows the trends for all of the Atlanta using the FMLS data for single family homes.

EXPLANATION OF CHART

This chart shows the number of homes sold in 2006, 2007, 2008 and 2009 (thru September). 2007 and 2008 are also broken down into Jan-July an Aug-Dec time frames. The last column represent the the number of currently active listings and their average asking price. The actual data for each bar and line is shown at the bottom of the chart.

ANALYSIS

Units Sold – 2006 – 2008

2006 saw 46,437 homes sold with that number increasing to 58,115 in 2007. We know that that market slowdown began in summer of 2007. This is clear by looking at the breakdown of 2007 sales: 37,497 units from Jan-July and 20,618 units from Aug-Dec. Total units sold in 2008 declined to 46,677 with the second half of the year seeing only 18,178 homes sold.

Units Sold – 2009

Thru April 30, 2009, 11,631 homes sold. If we extrapolate this for the entire year, 2009 would see approximately 35,000 homes sold. From May thru Sepetmber, 21,317 homes sold with an average sales price of $207,000. This represents an 83% increase in home sales AND a 12.5% increase on average sales price.

There are currently 37,674 homes on the market which is approximately 15% less homes than at the end of April. This also represents 10.3 months of inventory at the current absorption rate. Clearly we are seeing a positive trend in sales. However, inventory is still above the 7-9 months which would represent a balanced market. In addition, the current average list price of $361,000 for active listings is way too high and will need to come down in order to sustain this sales trend.

Average Sales Price

In 2006, the average sold price was $264,000. This increased slightly to $265,000 in 2007. The average sold price peaked in the first half of 2007 at $269,000. By 2008, the average sold price was down to $229,000. For the first four months of 2009, the average sold price was $184,000. From May thru September, the average sales price increased by $23,000, approximately 12.5%, to $207,000.

Average List Price

The average list price in 2006 was $271,000. The difference between the average list and average sold in 2006 was 2.7%. By 2007, the gap between list and sold price increased to 3.4%. In 2008, the gap had further increased to 6.1%. For the first four months of 2009, the gap reached an amazing 20.0%. From May thru Deptember, the gap between asking and sold prices had narrowed to 9.1%.

Average Days on Market

This data is not shown on the chart but in the table below:

2006: 76

Jan – Jul 2007: 84
Aug-Dec 2007: 91
2007: 87

Jan-Jul 2008: 95
Aug-Dec 2008: 91
2008: 94

Jan – Apr 2009: 98
May – Sept 2009: 93

As we can see, the average days on market has decreased slightly increased from to 98 to a current 93 days.

Please feel free to contact me with questions about your specific market or community. You can request a FREE home market analysis here.

Atlanta, Georgia Housing Market Review

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North Fulton County (Roswell and Alpharetta) Housing Market Review

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Mon, 26 Oct 2009 09:56:22 -0500

The most common questions I am asked are: Is the market getting any better and is activity picking up?

The problem in providing an answer is that is really depends on the day you ask. Over the last 12 months, there really hasn’t been any consistent trend in the market. Some weeks see lots of activity and interest while others have no activity. It has been this lack of consistency that has made this such a difficult market.

Positive News

On The Other Hand

To get a clear picture of the Roswell/Alpharetta market, I have broken down the sales trends for 2006 through 2008. For 2009, I kept my original analysis period of January thru April and have added May thru September. This way you can see how the year is trending. The chart below shows the trends for Roswell and Alpharetta, Georgia (Fulton County only) combined.

EXPLANATION OF CHART

ANALYSIS

Units Sold – 2006 – 2008

2006 saw 2475 homes sold with that number increasing to 3028 in 2007. We know that that market slowdown began in summer of 2007. This is clear by looking at the breakdown of 2007 sales: 2034 units from Jan-July and 994 units from Aug-Dec. Total units sold in 2008 declined to 2077 with the second half of the year seeing only 734 homes sold.

Units Sold – 2009

Thru April 30, 2009, 388 homes sold. If we extrapolate this for the entire year, 2009 will see approximately 1200 homes sold. From May thru September, 1266 homes sold with an average sales price of $410,000. While this period includes one more month than Jan thru April, the number of homes sold increased by over 225%!

There are currently 2004 homes on the market. Current inventory now stands at 10.9 months versus 20.2 months projected at the end of April. Clearly we are seeing a positive trend in sales. However, inventory is still above the 7-9 months which would represent a balanced market. In addition, the current average list price of $618,000 for active listings is way too high and will need to come down in order to sustain this sales trend.

Average Sales Price

In 2006, the average sold price was $411,000. This increased to $421,000 in 2007, an increase of 2.5%. The average sold price peaked in the first half of 2007 at $427,000. By 2008, the average sold price was down to $417,000. For the first four months of 2009, the average sold price had fallen to $376,000. From May thru September, the average sales price increase by $8,000 or approximately 2.1%.

Average List Price

The average list price in 2006 was $423,000. The difference between the average list and average sold in 2006 was 2.9%. By 2007, the gap between list and sold price increased to 5.1%. In 2008, the gap had further increased to 5.5%. For the first four months of 2009, the gap reached 7.5%. From May thru September, the price gap narrowed slightly to 6.8%.

Average Days on Market

This data is not shown on the chart but in the table below:

2006: 55

Jan – Jul 2007: 66
Aug-Dec 2007: 76
2007: 70

Jan-Jul 2008: 80
Aug-Dec 2008: 88
2008: 83

Jan – April 2009: 94
May – Sept 2009: 94

As we can see, the average days on market has remained at 94 days.

Please feel free to contact me with questions about your specific market or community. You can request a FREE home market analysis here.

Roswell-Alpharetta, Georgia Housing Market Review

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Cherokee County, GA – Housing Market Review

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Thu, 22 Oct 2009 11:13:12 -0500

The most common questions I am asked are: Is the market getting any better and is activity picking up?

Positive News

On The Other Hand

Market Analysis

To get a clear picture of the Cherokee market, I have broken down the sales trends for 2006 through 2008. For 2009, I kept my original analysis period of January thru April and have added May thru September. This way you can see how the year is trending. The chart below for Cherokee County includes the cities of Woodstock, Canton, Ball Ground, Holly Springs and Waleska.

EXPLANATION OF CHART

ANALYSIS

Units Sold – 2006 – 2008

2006 saw 2967 homes sold with that number increasing to 3550 in 2007. We know that that market slowdown began in summer of 2007. This is clear by looking at the breakdown of 2007 sales: 2312 units from Jan-July and 1238 units from Aug-Dec. Total units sold in 2008 declined to 2389 with the second half of the year seeing only 869 homes sold.

Units Sold – 2009

Thru April 30, 2009, 595 homes sold. If we extrapolate this for the entire year, 2009 will see approximately 1800 homes sold. From May thru September, 1150 homes sold with an average sales price of $213,000. While this period includes one more month than Jan thru April, the number of homes sold increased by over 93%!

There are currently 2318 homes on the market, down from 2726 at the end of April. Current inventory now stands at 12 months versus 18.3 at the end of April. Clearly we are seeing a positive trend in sales with some discounting on price sontinuing. However, inventory is still above the 7-9 months which would represent a balanced market. In addition, the current average list price of $327,000 for active listings is way too high and will need to come down in order to sustain this sales trend.

Average Sales Price

In 2006, the average sold price was $250,000. This increased slightly to $253,000 in 2007, an increase of just 1.2%. The average sold price peaked in the first half of 2007 at $256,000. By 2008, the average sold price was down to $232,000. For the first four months of 2009, the average sold price was $219,000. From May thru September, the average sales price declined by $6,000 or approximately 2.75%.

Average List Price

The average list price in 2006 was $255,000. The difference between the average list and average sold in 2006 was 2.0%. By 2007, the gap between list and sold price increased to 3.2%. In 2008, the gap had further increased to 5.2%. For the first four months of 2009, the gap reached 6.8%. From May thru September, the price gap narrowed to 5.1%.

Average Days on Market

This data is not shown on the chart but in the table below:

2006: 77

Jan – Jul 2007: 83
Aug-Dec 2007: 88
2007: 85

Jan-Jul 2008: 102
Aug-Dec 2008: 92
2008: 98

Jan – April 2009: 94
May – Sept 2009: 95

As we can see, the average days on market has increased from to 77 to a current 95 days which is less than 2008’s average of 98 days.

Please feel free to contact me with questions about your specific market or community. You can request a FREE home market analysis here.

Cherokee County, Georgia Housing Market Review

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Cobb County, GA – Housing Market Review

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Thu, 22 Oct 2009 11:09:43 -0500

The most common questions I am asked are: Is the market getting any better and is activity picking up?

Positive News

On The Other Hand

Market Analysis

To get a clear picture of the Cobb market, I have broken down the sales trends for 2006 through 2008. For 2009, I kept my original analysis period of January thru April and have added May thru September. This way you can see how the year is trending.

The charts below show the data for East and West Cobb separately. East Cobb consists of mostly unincorporated Marietta and parts of the city of Marietta. West Cobb consists of the other half of the city of Marietta plus the cities of Kennesaw, Acworth, Powder Springs, Mableton, Austell, Smyrna and Vinings.

EXPLANATION OF CHARTS

ANALYSIS

Units Sold – 2006-2008

2006 saw 2177 homes sold with that number increasing to 2545 in 2007. We know that that market slowdown began in summer of 2007. This is clear by looking at the breakdown of 2007 sales: 1703 units from Jan-July and 842 units from Aug-Dec. Total units sold in 2008 declined to 1807 with the second half of the year seeing only 644 homes sold.

Units Sold – 2009

Thru April 30, 2009, 382 homes sold with an average sales price $303,000. If we extrapolate this for the entire year, 2009 would see approximately 1200 homes sold. From May thru September, 855 homes sold with an average sales price of $337,000. While this period includes one more month than January thru April, the number of homes sold increased by almost 125%. In addition, the average sales price increased by 4.3%.

There are currently 1416 homes on the market with an average list price of $442,000. Current inventory now stands at 10.3 months versus 17 months in May. Clearly we are seeing a positive trend in sales and prices. However, inventory is still above the 7-9 months which would represent a balanced market. In addition, the current average list price of $442,00 is way too high and still shows that sellers are not dealing with the realities of the market.

Average Sales Price

In 2006, the average sold price was $326,000. This jumped to $351,000 in 2007, an increase of 7.6%. The average sold price peaked in the second half of 2007 at $357,000. By 2008, the average sold price was back down to $334,000. For the first four months of 2009, the average sold price fell to $303,000. From May thru September, the average sales price increased to $318,000 which is still below 2008’s average but a positive trend.

Average List Price

The average list price in 2006 was $334,000. The difference between the average list and average sold in 2006 was 2.5%. By 2007, the gap between list and sold price increased to 4.3%. In 2008, the gap had further increased to 5%. For the first four months of 2009, the gap reached 6.2%. From May to September, the gap dropped slightly to just below 6%.

Average Days on Market

This data is not shown on the chart but in the table below:

2006: 57

Jan – Jul 2007: 62
Aug-Dec 2007: 68
2007: 64

Jan-Jul 2008: 77
Aug-Dec 2008: 82
2008: 79

Jan – April 2009: 93
May – Sept 2009: 85

As we can see, the average days on market has dropped from to 93 to 85 but still well above 2008’s 79.

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ANALYSIS

Units Sold – 2006 – 2008

2006 saw 5091 homes sold with that number increasing to 5890 in 2007. We know that that market slowdown began in summer of 2007. This is clear by looking at the breakdown of 2007 sales: 3816 units from Jan-July and 2074 units from Aug-Dec. Total units sold in 2008 declined to 4401 with the second half of the year seeing only 1702 homes sold.

Units Sold – 2009

Thru April 30, 2009, 1092 homes sold with an average sales price of $185,000. If we extrapolate this for the entire year, 2009 would see approximately 3300 homes sold. From May thru September, 2235 homes sold with an average sales price of $209,000. While this period includes one more month than January thru April, the number of homes sold increased by almost 105%. In addition, the average sales price increased by almost 13%.

There are currently 3525 homes on the market with an average list price of $300,000. Current inventory now stands at 9.5 months versus 15.3 months in May. Clearly we are seeing a positive trend in sales and prices. However, while inventory is approaching the range for a balanced market, the current average sales price is way too high (almost $100,000 more than the average sales price) and still shows that sellers are not dealing with the realities of the market.

Average Sales Price

In 2006, the average sold price was $250,000. This actually decreased slightly to $249,000 in 2007. The average sold price stayed at $250,000 thru the first half of 2007. By 2008, the average sold price was down to $223,000, a drop of almost 11%. For the first four months of 2009, the average sold price was $185,000 representing a decline of 21% from the same period in 2008 and a 26% drop from the peak price in 2006 and early 2007. From May thru September, the average sales price increased to $209,000, representing a 13% increase but still below 2008’s average of $223,000.

Average List Price

The average list price in 2006 was $255,000. The difference between the average list and average sold in 2006 was 2%. By 2007, the gap between list and sold price increased to 2.7%. In 2008, the gap had further increased to 4.8%. For the first four months of 2009, the gap reached 6%. From May thru September, the gap was slightly less at 5.5%.

Average Days on Market

This data is not shown on the chart but in the table below:

2006: 73

Jan – Jul 2007: 80
Aug-Dec 2007: 82
2007: 81

Jan-Jul 2008: 89
Aug-Dec 2008: 89
2008: 89

Jan – April 2009: 98
May – Sept 2009: 97

As we can see, the average days on market has only decreased by one day and is still higher than 2008’s average.

Please feel free to contact me with questions about your specific market or community. You can request a FREE home market analysis here.

Cobb County, Georgia Housing Market Review

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Atlanta Home Real Estate Prices Increase Slightly

Barry Wolfert (Atlanta Communities Real Estate Brokerage) — Mon, 12 Oct 2009 09:52:23 -0500

The rate of home-price declines improved in July in the top 20 U.S. cities, and Atlanta posted a rise. The average price of a home in Atlanta rose 2.3 percent from June to July, according to the Standard & Poor’s/Case-Shiller Home Price Index. However, the average price of a home in Atlanta was down 11.8 percent year over year in July.

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Atlanta, GA Housing Market Review

The most common questions I am asked are: Is the market getting any better and is activity picking up?

Positive News

On The Other Hand

EXPLANATION OF CHART

ANALYSIS

Units Sold – 2006 – 2008

Units Sold – 2009

RELATED POSTS:

Atlanta, Georgia Housing Market Review

Click here to read original post

North Fulton County (Roswell and Alpharetta) Housing Market Review

The most common questions I am asked are: Is the market getting any better and is activity picking up?

Positive News

On The Other Hand

EXPLANATION OF CHART

ANALYSIS

Units Sold – 2006 – 2008

Units Sold – 2009

Average Sales Price

Average List Price

Average Days on Market

RELATED POSTS:

Roswell-Alpharetta, Georgia Housing Market Review

Click here to read original post.

Cherokee County, GA – Housing Market Review

The most common questions I am asked are: Is the market getting any better and is activity picking up?

Positive News

On The Other Hand

Market Analysis

EXPLANATION OF CHART

ANALYSIS

Units Sold – 2006 – 2008

Units Sold – 2009

Average Sales Price

Average List Price

RELATED POSTS:

Cherokee County, Georgia Housing Market Review

Click here to read original post.

Cobb County, GA – Housing Market Review

The most common questions I am asked are: Is the market getting any better and is activity picking up?

Positive News

On The Other Hand

Market Analysis

EXPLANATION OF CHARTS

ANALYSIS

Units Sold – 2006-2008

Units Sold – 2009

Average Sales Price

Average List Price

Average Days on Market

ANALYSIS

Units Sold – 2006 – 2008

Units Sold – 2009

Average Sales Price

Average List Price

Average Days on Market

RELATED POSTS:

Cobb County, Georgia Housing Market Review

Click here to read original post.

Atlanta Home Real Estate Prices Increase Slightly