April 2013
We are providing this monthly real estate advisor report to keep you informed about the latest trends and issues in the real estate market. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information helps our clients make better real estate decisions!
We hope that you and your loved ones are having a wonderful spring season! 2013 has brought some exciting new trends for real estate in the Greater Metro Atlanta area. If you are considering your options or know others who may benefit from this information, please contact us. We would be honored to help.
Real estate is heavily impacted by the laws of supply & demand plus a few other factors like mortgage rates and the economy. The “for sale” inventory across most markets remains very low. Desirable properties priced at market values are selling very quickly – often with multiple offers.
For the Greater Metro Atlanta area, inventory levels are down 38.7% from 2012 and 57.7% from 2011.
The available “months of supply” is 3.4 months based upon pending sales. Six months of supply is considered a normal market.
The pace of short sales and foreclosures coming on the market has slowed considerably. In 2010, over 60% of sales were distressed properties but that is now down to 37%. Resales are the larger mix of sales.
New Homes are making a slow but sure comeback. There are some wonderful new home communities coming online with the latest innovations in smart buildings that may be great options for buyers. Click here to view new home communities.
The Case-Shiller Index reports that Metro Atlanta home values have increased 9.91% in the last 12 months. But values remain down 29.69% from the peak of July 2007. Click here for the latest Case-Shiller report.
Home values will continue to rise in 2013 – especially in the lower price points driven by the very low levels of inventory and strong buyer demand.
Mortgage rates remain incredibly low – but this will change significantly in a few years. Last week, the Fed reinforced their position of buying $85 billion per month in mortgage-backed securities. The simple fact is that mortgage rates are being held down artificially and the mortgage system must be restructured to be able to operate normally. That means higher rates and higher costs for financing are coming in the future.
This is an unprecedented opportunity to buy the home of your dreams while prices and financing are historically low. But these conditions will not last as the real estate market continues to recover.
Prudential Georgia Realty To Become
BERKSHIRE HATHAWAY HomeServices!
On March 19th, Prudential Georgia Realty was pleased to make two significant announcements:
First, we have decided to be an early adopter of the new BERKSHIRE HATHAWAY HomesServices® brand. As soon as it is available in our market, we will rebrand our company to the premiere real estate brand of the future. We expect the new brand to be available in the 3rd quarter of 2013 and will make a big splash in the Greater Metro Atlanta area. Click here for a preview of the visual identity of the new brand.
Second, our company has agreed to be acquired by HomeServices of America, Inc., A Berkshire Hathaway Affiliate. So we are now part of the Berkshire Hathaway family of companies. And our new brand will be the only entity that actually uses the name Berkshire Hathaway as a brand name other than the parent company. Click here for the press release.
Last month, our company celebrated our 50th anniversary. Many things have changed and evolved over the years but one thing has remained constant. We are committed to deliver exceptional real estate services that help our clients and customers achieve their goals. The results speak for themselves. In the last 4 years, all the major firms that track brokerage metrics ranked our company #1 in transactions, listing sales and buyer sales. On March 15th, the Atlanta Business Chronicle published their 2012 rankings for real estate companies. Once again, Prudential Georgia Realty was the #1 residential real estate company. That makes three years in a row that were ranked #1 in sales volume and homes sold! Click here to view the rankings.
We are very excited about becoming part of the Berkshire Hathaway family of companies and adopting the new BERKSHIRE HATHAWAY HomeServices® brand. The new brand identity is smart, distinctive and versatile for all markets and price ranges. For now, we will continue to operate as Prudential Georgia Realty. As more information becomes available, we will keep you informed. There is no action required for existing or future clients. When we officially launch the new brand, we will replace our yard signs and other branding. This will be accompanied by a significant media blitz and will create a great deal of energy and excitement in our market. That is good for all our clients!
If you or someone you know are considering making a real estate move, please contact us to learn more about our services. We would be honored to help.
Getting To Know Berkshire Hathaway
One Of The Most Respected Companies In The World!
Now that our company is part of the Berkshire Hathaway family of companies, we thought it might be helpful to get to know more about our new organization.
According to the Forbes Global 2000 list, Berkshire Hathaway is the 8th largest public company in the world. The company is led by Chairman & CEO, Warren Buffett who is often referred to as “the Oracle of Omaha” for his keen insight on business matters.
The Berkshire Hathaway approach is to acquire companies with great brands, great products and strong leadership, then grow and build value over long periods of time.
Berkshire Hathaway owns and operates approximately 100 companies and employs approximately 300,000 people. Company holdings include major brands like GEICO, Fruit of the Loom, Dairy Queen, Benjamin Moore, Helzberg Diamonds, NetJets, Heinz, MidAmerican Energy and Shaw Industries which is located in Dalton, Georgia.
In the last 48 years, Berkshire Hathaway has returned an average annual growth in book value of 19.7% to investors versus 9.4% for the S&P 500 (including dividends) for the same period. From 2000 to 2010, Berkshire Hathaway stock produced a total return of 76% versus a negative 11.3% for the S&P 500.
Berkshire Hathaway has major stock positions in companies like Wells Fargo (8.7%), American Express (13.7%) and IBM (6%). Berkshire Hathaway is the largest single stockholder of Coca-Cola with holdings estimated at 8.9%.
Barron’s Magazine and Fortune Magazine have ranked Berkshire Hathaway as one of the most respected companies in the world. A Harris Interactive poll cited Berkshire Hathaway as the “most admired” company in the world.
Berkshire Hathaway was recently ranked #4 in market capitalization for U.S. companies with $251 billion in market value by the Online Investor.
Being part of such a large and successful organization gives us many advantages. We are able to purchase solutions in larger scale that gives us a cost advantage. The ability to share “best practices” and resources across the enterprise will allow us to innovate at a faster pace.
We look forward to leveraging the Power of Berkshire Hathaway to deliver even more advantages for our clients and customers. Contact us to learn more.
The Atlanta Braves Opening Day – Monday, April 1st!
Major league baseball is just around the corner. Your Atlanta braves open on Monday, April 1st against the archrival Philadelphia Phillies. Tim Hudson is expected to be on the mound and country star Rodney Adkins will be singing the national anthem. The game is schedule for 7:10pm and tickets are available by clicking here.
The 2013 Atlanta Braves feature some new faces. Chipper Jones is retired and off-season trades moved Michael Bourn and Martin Prado. New faces include Justin Upton and his older brother B.J. Upton who have great gloves and big bats! Braves stars Brian McCann, Jason Heyward, Craig Kimbrell and Dan Uggla are back and ready for a run at the pennant. Note: Brian McCann may not be available for action until late April as he recovers from should surgery. Click here for the 2013 roster.
March Madness is also in full swing. This year the Final Four Championship Tournament is located here in Atlanta at the Georgia Dome on April 6th -8th. You can track all the teams athttp://www.ncaa.com/march-madness. There will be tournament brackets and lots more available on this website. You can also download an app for your favorite mobile device from the iTunes store or the Google Play store.
Interested in tickets? Click this website to see your options: http://www.ncaa.com/final-four#!tickets_hospitality. Ticket prices range from $185 to $4500 and include a variety of hospitality packages. Locals may also be able to buy tickets from fans of teams that get eliminated during the tournament.
Greater Metro Atlanta offers numerous options for major sporting events this spring. Here are a few others events coming up soon:
The Masters PGA tournament is held just down the road in Augusta on April 11th – 14th.
The Greater Gwinnett Championship event for the Champions Tour will be held at the TPC at Sugarloaf in Duluth on April 19th – 21st.
If You Know Someone Who Can Benefit From Our Real Estate Expertise,
We Would Love To Help. Better Information Leads To Better Decisions!
Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at 678-513-2014 or email us at APrescott@PrudentialGeorgia.com.
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