Berkshire Hathaway HomeServices Georgia Properties Metro Atlanta Real Estate Advisor - September 2014

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor - September 2014


We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us to find out exactly what is happening in your local area. 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!

Closings for Metro Atlanta in August were down 16.1% compared to last month and down 8.6% compared to the previous year.

The Metro Atlanta market is currently running 1% behind 2013 in closed transactions.

The average sales price was $260,000 in August versus $271,000 in July. The average closed sale price for the year was $250,000 which was up 42% from the bottom of 2011.

Listed inventory was up .5% from last month and up 21.3% compared to last year. Inventory is up 52% from the recent bottom of February 2013. But the limited availability of highly desirable properties in select markets is still driving multiple offers and very quick sales. Other areas have more normal conditions. Remember, real estate is local and markets are different.

The overall “months of supply” is 4.7 months versus 4 last month. Six months is considered normal.

The largest buying segment for Metro Atlanta is Baby Boomers/ Gen X. Thousands of these homeowners are moving to smarter living environments with less maintenance. Others are moving toward homes that accommodate their health and lifestyles as they move into their senior years. First Time Buyers have slowed due to increasing prices, student loan debt and challenges with employment.

New Homes are making a comeback. SmartNumbers reports that new homes are up 16%. The problem is that many builders cannot build them fast enough! Labor shortages are one of the most significant inhibitors.

At the peak of 2006, we were building over 60,000 new homes per year. Today, we are on pace to build around 18,000 new homes in 2014 and we expect to get to the 20,000 unit run rate by 2015.

New home prices are rising with strong demand and limited inventory. Presales are once again becoming the majority of sales. In this environment, you want to make sure you are protected with strong representation to help set up the right expectations and agreements with the builder. Contact us to learn more about best practices for buying new homes. Click here to view new home communities.

Metro Atlanta Ranked #3 Most Popular Destination

Atlanta was the No. 3 most popular destination for U.S. families moving to a new city in summer 2014, according to a new survey by United Van Lines. The city was particularly popular for people moving for new jobs, or due to corporate transfers. The survey also shows Atlanta was the No. 3 city families are moving from. The Summer Long-Distance Moving Trends Study says the most popular metro areas for U.S. families were:

Top Metro Areas To Move To:

1. Chicago

2. Washington D.C.

3. Atlanta

4. Boston

5. Los Angeles

6. Dallas

7. Phoenix

8. New York

9. Minneapolis

10. San Diego

Top Metro Areas To Move From:

1. Washington, D.C.

2. Dallas

3. Atlanta

4. Houston

5. Phoenix

6. Chicago

7. Seattle

8. Los Angeles

9. Denver

10. San Jose, California

If you or someone you know are considering moving, contact us to learn about our Advanced Property Marketing System – the most effective approach to selling your home for the highest value.


Georgia Rated The Best Place For Business

Georgia is the best place in the country for doing business, according to Area Development Magazine’s fifth annual survey of site consultants. Georgia unseats Texas to take the title.

1.GEORGIA
2.TEXAS
3.SOUTH CAROLINA
4.ALABAMA
5.TENNESSEE
6.LOUISIANA
7.INDIANA
8.NORTH CAROLINA
9.OHIO
10.MISSISSIPPI

It’s difficult to beat Texas on any list of economic development power states these days, but Georgia did exactly that in the Area Development survey of site consultants, nudging Texas down into the No. 2 spot after it finished No. 1 a year ago. Georgia’s accomplishment was especially impressive because of the breadth of its strong performances over most of the 18 categories voted on by the consultants, including top-three finishes in 12 of them.

The Area Development honor follows other recent recognition of Georgia’s rise in the ranks, which included its choice by a CNBC study as the No. 1 place for business in America. Such rankings “are a testament to the commitment from Georgia businesses, communities, economic development partners, and the people of Georgia,” Gov. Nathan Deal said in a statement, indicating his confidence that “more businesses will consider expanding or relocating here.”

Contact us to learn how our award-winning Corporate Relocation team and our Exclusive Referral Networks are positioned to attract more corporate buyers for our listings.

Berkshire Hathaway HomeServices Honored – Again!

Berkshire Hathaway HomeServices Georgia Properties was recognized as one of the 2014 Atlanta's Best Places To Work at an exclusive event hosted by the Atlanta Business Chronicle. The company was the only large real estate brokerage to receive this prestigious honor.

BHHS Georgia Properties received a Consumer’s Choice Award for residential real estate based on feedback from local consumers.

BHHS Georgia Properties has been consistently ranked the No. 1 real estate company by Trendgraphix, RealValuator and SmartNumbers for 5 years in a row.

President & CEO, Dan Forsman was named the 2014 Most Admired CEO in Residential Real Estate by the Atlanta Business Chronicle.

Berkshire Hathaway HomeServices was named “2014 Real Estate Agency Brand of the Year” in the 26th annual Harris Poll EquiTrend® study of consumers across the nation.

Our New Homes Services team was the winner of over a dozen OBIE Awards for new homes marketing & sales.

Our Marketing Team was recognized with a National Print Industry Award for our beautiful property marketing materials.

Our award-winning Corporate Relocation team continues to receive numerous honors as the leading organization handling relocating corporate employees moving to and from Metro Atlanta.

We are honored to receive such recognition and work hard every day to deliver exceptional service and value to our clients.

If You Know Someone Who Can Benefit From This Information Or Our Real Estate Expertise, We Would Love To Help Them.

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 Berkshire Hathaway HomeServices Georgia Properties. He has 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 www.LakeSidneyLanierHomes.com or 678-513-2014 or email us at Arthur.Prescott@BHHSGeorgia.com.