Berkshire Hathaway HomeServices Georgia Properties Atlanta Real Estate Advisor - January 2017

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 the specific details for 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!

 

The Metro Atlanta real estate market is off to a fast start for 2017.  The market has been very active during the first few weeks of January. Here is the summary for Metro Atlanta real estate through December 2016.

• Closings for December 2016 were down 8.2% from last month and down 3.3% from last December. According to Trendgraphix, 2016 closings were up 9.8% compared to 2015.
• The average sales price for December was $282,000 – up 1.8% from last month and up 5.6% from last year. The annual ASP beat the record levels posted back in 2006.
• The listed inventory for December was down 8.2% from last month and down 3.3% from last year. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
• Overall months of supply for December was 4.3 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 12.2 months and properties over $2 million averaging 28.5 months to close.
• The latest Case-Shiller Index (12/27/16) was up .41% from the previous month. Metro Atlanta home values are up 61.79% from the recent bottom of March 2012 and up 8.06% from the average index last year. Increased home values are building positive equity and getting some sellers back into the market.
• Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. The recent Fed hike has driven mortgage rates higher and many buyers are taking action before rates rise further. Our Close On Time Guarantee and Free Second Opinion programs have been very beneficial to our clients!

Click here for a more detailed set of charts including the National Real Estate Market, Metro Atlanta Real Estate Market and Trends for Georgia Real Estate.

 

Our first MEGA Open House Event for 2017 is Sunday, February 19th from 2pm – 5pm. There will be hundreds of beautiful open houses open across Metro Atlanta. This might be the right time to make your move!

If you know someone who is considering listing their home, please let them know about these events. We are having great success in attracting buyers for our MEGA Open Houses! The MEGA Open House Events are very different from the standard open houses from other companies. We leverage major advertising campaigns to drive more awareness for these events. Some examples include:

• New iPad Air2 Sweepstakes - One lucky person will win a brand new iPad Air2 in our sweepstakes promotion.
• Digital Billboards - We are using our extensive digital billboard network to promote the event to over 2.5 million drivers the week leading up to the event.
• Paid Facebook Ads – We leverage paid Facebook campaigns to promote each open house. Our MEGA Open House ads were viewed by over 300,000 consumers who clicked over 28,000 times to see more property details.
• Zillow Advertising Campaign - Zillow is the leading real estate website with over 65% of the online searches in our market. Our MEGA Open House locations will be identified on Zillow to reach the largest online real estate audience. In addition, we are launching a significant new advertising campaign for Zillow buyer searches to promote our MEGA Open House event.
• Print Advertising – We will place ads in select newspapers including the Atlanta Journal Constitution business section.
  Local Promotion – Our teams will be putting up directionals, balloons, and other materials to attract local prospects. Of course, we will respect local ordinances.
• Neighbor Previews – Our teams will also be organizing previews for neighbors who may be interested or know someone that may be a candidate as their new neighbor.
• Neighborhood Campaigns – Our teams will be leveraging e-campaigns, postcards, and other mediums to reach the local community before and after the event.

As you can see, these are NOT traditional open houses where the agent places a few directionals and hopes for a buyer. These are MEGA Open House Events!

If you know anyone interested in listing their home, we would be honored to help and get their home designated as a MEGA Open House location.

 

Our company is strategically partnering with the Zillow Group to introduce a new Zillow Video Program that will dramatically increase views for our listings. Zillow ranks listings with Zillow Videos first in their search results which provides 2X the listing views versus other listings. Buyers also save listings as favorites at twice the rate of other listings. As we move into the early spring market, our seller clients will benefit from the increased exposure to more buyers.

As the recipient of the first ever Zillow Group Broker of Excellence Award, we will continue to partner with Zillow to introduce innovative programs that benefit our clients.

The outlook for Metro Atlanta real estate looks positive in 2017. We are forecasting an 8-10% increase in overall unit sales. There may be some slowing in the entry level market with rising mortgage rates and escalating home values. The general market in the $200,000 to $500,000 price range is very strong with homes expected to sell very quickly. The luxury market is expected to remain soft in some areas. Contact us for details about your local area.

We would be honored to assist you or someone you know with their real estate needs. We are experts in the local market and have access to proprietary information sources that are not available to the public. 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 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.

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor February 2015! We Check The Latest Atlanta Home Sales Trends!

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – February 2015


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 the specific details for 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 January were down 39% compared to last month and down 9.5% compared to the previous year. This reflects normal seasonal slowing for the winter.
The average sales price was $243,000 in January versus $255,000 in December. The average sale price for 2014 was $250,000 which was up 42% from the bottom of 2011.
Listed inventory was down 3.2% from last month and up 12% compared to last year. Inventory is up 27.5% 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. Remember, real estate is local and specific markets can be very different.
Months of supply rose to 6.7 months versus 5.9 last month. Six months is normal.
The Case-Shiller Index reports that Metro Atlanta home value are up 44% from the recent bottom of March 2012. Home values remain down 12% from the peak of July 2007. The outlook for 2015 values is strong especially in areas with low inventory and high demand from large corporate moves. Contact us to learn the trends in your specific area.
New Homes are making a comeback. The problem is that many builders cannot build them fast enough! Visit www.NewHomesServicesGA.com to view new home communities.
Commercial real estate is also making a comeback in Metro Atlanta. Smart RE Data reports that land sales, industrial sales and office leases are improving. Our Commercial Real Estate Division specializes in these areas and would be happy to help you. Contact us for details.
Click here for the latest charts and more details on Metro Atlanta real estate.
Early Spring For Real Estate!






General Beauregard Lee, emerged from his “Weathering Heights” lair at Gwinnett County’s Yellow River Game Ranch just after daybreak on Monday, February 2nd to find no shadow. That means an early spring for Metro Atlanta. Pennsylvanians weren’t so lucky, as Punxsutawney Phil saw his shadow on Gobbler’s Knob northeast of Pittsburgh. According to the old German legend, that means winter will last another six weeks. It is no surprise that the migration to the sunbelt is back in full swing. Metro Atlanta has seen a series of major announcements with large corporations moving key employees to Metro Atlanta. That means an early spring for real estate sales! If you are considering listing your property, there are specific actions you should be taking now to get your property ready. Contact us for details.
Spring Forward On March 8th!






Yes, it is that time of year again. Daylight Saving Time begins at 2am Sunday morning, March 8th. Move your clock forward one hour when you go to bedSaturday night! People often ask - what is Daylight Saving Time and why do we have it? Daylight Saving Time is a way of getting more light out of the day by advancing clocks by one hour during the summer. During Daylight Saving Time, the sun appears to rise one hour later in the morning, when people are usually asleep anyway, and sets one hour later in the evening, seeming to stretch the day longer. If you would like to set your clock to the correct time, please click this link.
Join Us At The Luxury Living Show!






Atlanta Homes & Lifestyles, Phipps Plaza and Berkshire Hathaway HomeServices Georgia Properties have collaborated to host the sixth annual Luxury Living Show. Featuring the latest luxury products and trends from around the world, the show has become an Atlanta favorite. This year’s show will feature the DREAM KITCHEN, DREAM BATH and the Luxury Living Show’s first OUTDOOR LIVING DISPLAY, on view all month at Monarch Court.
Berkshire Hathaway HomeServices Georgia Properties will feature a new interactive kiosk to display our beautiful luxury listings. The company will also highlight our “Elegance Campaign” for the Berkshire Hathaway HomeServices Luxury Collection. The event is free to the public.

WHEN: March 1-31, 2015

WHERE: Phipps Plaza, Monarch Court

We would be honored to assist you or someone you know with their real estate needs. 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 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.

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

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor - August 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!

 

• Click here for a detailed market report for the Greater Metro Atlanta area. BHHS Georgia Properties was Number 1 in both homes sold and buyers represented. We have been ranked #1 for 5 years in a row!

 

• Closings for Metro Atlanta in July were down 14.4% compared to last month and down 15% compared to the previous year.
• The Metro Atlanta market is currently running 2.5% behind 2013 in closed transactions and 8.5% ahead in sales volume.
• It seems surprising to most that the market is down in units sales compared to last year. But there is more to that story…
   

 

• Last year, we had a significant number of closings from large investors buying single family properties to put into their rental programs. This year those large investors have slowed their purchases considerably. The under $100,000 segment is 2597 units or 33% lower than the number of closings in 2013.
• Equity Depot recently announced that “notices of default” for foreclosures had shrunk to a 12 year low in Metro Atlanta.
• The combination of fewer investor deals and fewer foreclosures reflect drastically smaller numbers in the $100,000 and below segment of the market. Remember, those were unusual patterns. If you factor out those transactions, the market is up 7.5% versus last year in units.
• 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 and others are moving toward homes that accommodate their health and lifestyles and they move into their senior years. First Time Buyers have slowed due to increasing prices, student loan debt and challenges with employment.

 

• Listed inventory was up 1.4% from last month and up 23.7% compared to last year. Inventory is up 50% 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 4.3 last month. Six months is considered a normal market.
• But you can see that the numbers are very different depending on the price point and area. Contact us to learn more about your specific area.

 

• 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. Then the numbers dropped to 5,000 during the recession. 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.
• There are some wonderful new home communities coming online with the latest innovations in smart building 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 40% from the bottom of March 2012. But values remain down 14% from the peak of July 2007.
• As the chart shows, our home values are back on a more normal trend line after over-inflating and then over-correcting. These are common market cycles that work themselves back to a normal trend over time.
• The long-term trend for mortgage rates is higher. The Mortgage Bankers Association and Freddie Mac predict 30-year mortgage rates to be over 5% in late 2014 and 2015. We still have exceptional mortgage rates. The average mortgage rates in the last 50 years was 8%. Act now before rates move higher!

This is an excellent opportunity to make your move while prices remain below replacement costs and financing costs are historically low. Contact us to get started.

Luxury Market Share Report For Metro Atlanta

 

The results are in for the first half of 2014 and there are some big changes in the luxury market for Metro Atlanta! Berkshire Hathaway HomeServices is making a major move with the introduction of the Luxury Collection program. The market increased 14.2% in units and 16% in volume. BHHS gained 36% in units and 37.7% in volume. Visit BHHSGeorgia.com for details.

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 678-513-2014 or email us at Arthur.Prescott@BHHSGeorgia.com.

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Metro Atlanta Case-Shiller Index Reported January 2014! See The Latest Real Estate & Home Sales Trends For Atlanta!

This Metro Atlanta Case-Shiller Index Report For January 2014 is provided to us courtesy of Berkshire Hathaway HomeServices Georgia Properties.

The latest Case-Shiller Index was published on Tuesday, January 28th 2014. As always, the index reports on data 60 days in arrears. Therefore, the index reports Metro Atlanta home values for November 2013. So what does the latest index show and what does that mean for home values in Metro Atlanta? Home values have significantly improved and are now stabilizing. To properly assess the Case-Shiller Index data, two important considerations must be taken into account. First, the Case-Shiller index of home values is very different from average sale prices or median homes prices. The Case-Shiller Index reports on repeat properties sold, which are generally better indicators of home values. Second, this index reflects average home values for all of Metro Atlanta. Remember, real estate is local and every market is different. Your local BHHS Georgia Properties agent can help you understand the specific metrics in your local market.

Now for the news…. Average home prices for the National 20-City Index decreased by .1% compared to last month and increased 13.7% over the past year. The November index for Metro Atlanta shows a .31% (non-seasonally adjusted) decrease in home values from October 2013 and an 18.49 increase over the same month last year. While these numbers remain very positive, we must bear in mind that home prices are still down 16.93% from the peak of July 2007. The October index for Atlanta is 113.37. This is the first time in nine months that the index has reported a decrease. This signals that home values are leveling off for many markets. Las Vegas, San Diego, Los Angeles and San Francisco had the highest year-over-year price increases. These were closely followed by Atlanta and Phoenix. New York, Cleveland and Washington D.C. showed the smallest year-over-year improvements.

The Metro Atlanta real estate market continues to show signs of moving back to a normal market. Listing inventory is up 15% from the bottom of February 2013. This is up 11% from 2012 and down 37% from 2011. That represents around 4.6 months supply of inventory based upon the latest closed sales trend. Six months supply is considered normal. We saw an extended period of low inventory late last year and early in 2013. But the recent trend is rising and we appear headed for a more normal level of inventory for next spring. Buyer activity remains strong led by baby boomers and first-time buyers. At the same time, the pace of pre-foreclosures (notices of default) and foreclosures has slowed dramatically. Resales and new homes are outpacing bank-owned sales. New Homes are making a significant comeback. Right now there is very low new homes inventory due to the high absorption and pre-sales are emerging again. In the next few years, new homes will become a more significant part of the inventory and closed sales. Your local BHHS Georgia Properties agent can show you the specific conditions in your market so you can make the best real estate decisions.

This month is the second negative result in 12 months for Metro Atlanta. Previously, we saw positive results from the Case-Shiller Index for 11 months in a row. What a change from a few years ago! Metro Atlanta Home Values are up 37% from the most recent low point of February 2012 according to the Case-Shiller Index. But remain down 16.93% from the peak of July 2007. View the graph of the monthly Case-Shiller results from 2010, 2011, 2012 and 2013.





If you look back further at home values (see chart below), you can see that we had a bubble in homes values. As with many cyclical markets, we have over-corrected with values that are below the normal trend line. Over time, we expect this pattern to normalize and values will return to this predictable track. That still makes now a great time to buy or invest in real estate for Metro Atlanta – BUT don’t wait too long!





This chart shows the “months supply” based upon price ranges. As you can see, the supply is very low in the lower price ranges. Investors have been very active in the price range but that slowed considerably. As you get to the luxury market, there is more supply available based on the slower rate of closed sales. Contact your local BHHS Georgia Properties agent to see the latest trends in your specific area.



If you look at the average annual Case-Shiller index for each year, here is how homes purchased in recent years would compare to the current index:

Homes Bought in 2000 – Gain 9.82%
Homes Bought in 2001 – Gain of 4.00%
Homes Bought in 2002 – Gain of .14%
Homes Bought in 2003 – Loss of 3.01%
Homes Bought in 2004 – Loss of 6.32%
Homes Bought in 2005 – Loss of 10.81%
Homes Bought in 2006 – Loss of 14.88%
Homes Bought in 2007 – Loss of 15.43%
Homes Bought in 2008 – Loss of 7.56%
Homes Bought in 2009 – Gain of 4.58%
Homes Bought in 2010 – Gain of 7.19%
Homes Bought in 2011 – Gain of 15.26%
Homes Bought in 2012 – Gain of 24.97%

Yes, we are slowly climbing our way out of this unprecedented housing crisis – but we are not quite there yet. So where will home values go from here? The key factors that will impact our home values include the following:

Demand from Buyers: The long-term trend for buyer demand is strong as buyers take advantage while prices remain below replacement costs and mortgage financing is historically low. We continue to see significant pent-up demand for new household formation from first time buyers and a very active baby boomer market. But the large investors have recently slowed their buying patterns for properties under $100,000. The last few months have seen a normal seasonal slowdown in transactions. We will be watching the buyer demand trends closely to determine of we have any changes in the leading indicators.

Mortgage Rates/ Credit Availability: Average mortgage rates in the past 50 years were 8%. Rates remain historically low but the long-term trend is higher. Freddie Mac and the Mortgage Bankers Association predict mortgage rates to rise to over 5% in 2014. In 3-5 years, we expect to see rates in the 6-8% range again.

Supply/ Inventory Levels: The inventory has been rising over the past few months as we move toward a more normal level of supply. New homes will become a more significant part of the overall inventory by the spring. Values have been on the rise but are showing signs of leveling off. We expect more “sideline sellers” get back into the market for the spring. The “for sale” inventory this spring should be historically normal once again.

Competition from Short Sales/ Foreclosures: In 2010, RealValuator reports that short sales and foreclosures were over 60% of the transactions sold but have dropped to under 20% in 2013. Resales and new homes are significantly outpacing short sales and bank-owned properties.

New Homes Make A Comeback: New Home starts are rising and will slowly but surely become a major factor for Metro Atlanta real estate. In 3-5 years, we expect New Homes to return to 40%-45% of the inventory and closed sales. For resale owners, your competition will shift from foreclosures & short sales to new homes.

It is clear that the housing market for the Greater Metro Atlanta area is improving. Right now, we still have low prices and incredible mortgage rates. But the trends for mortgage rates are upward and home prices are increasing. Many buyers and sellers need to act quickly before their buying power in impacted significantly. In 5 or 10 years, many will look back and regret not buying their dream home when they had the chance! The cost of waiting could be quite significant. Check back for our next posts with the latest facts and insight that can make you money!

Prudential Georgia Realty has changed our name to Berkshire Hathaway HomeServices Georgia Properties. Berkshire Hathaway is the 8th largest public company and was ranked the No.1 most respected company in Barron’s ranking of the top 100 companies. Berkshire Hathaway has the resources to bring a new level of quality and innovation to real estate. Look for more exciting announcements coming soon! For more information, visit BHHSGeorgia.com.




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 Arthur.Prescott@BHHSGeorgia.com.

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Real Estate Trends For The Metro Atlanta Housing Market! Catch Up On The Intown Real Estate Stats!

We have said it many times before, and we'll say it again.  While the Metro Atlanta real estate market is very different from the Lake Lanier real estate market, there are indeed some similarities.  Many home owners that own homes at Lake Lanier, also own primary homes in the Metro Atlanta area.  When it comes to decisions on buying and selling their homes, these home owners weigh the stats in both markets.  For many reasons the two markets are tied, and that is why we think it is always important to view the trends in Atlanta.  The following slide presentation, shows the latest stats for the Atlanta real estate market as well as the production results for Prudential Georgia Realty as they compare to other brokers in our market area. The slides are packed with valuable information produced by research gathered by Prudential Georgia Realty.  Take a look at the slides and contact us with questions or comments.  We look forward to hearing from you!

Metro Atlanta Real Estate Market Trends July 2013 from Arthur Prescott

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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Prudential Georgia Realty Named One Of The Top Performing Brokerage Firms In The Nation!

Prudential Georgia Realty Named One Of The 

Top Performing Brokerage Firms In The Nation

RISMedia Releases 2013 Power Broker Rankings

ATLANTA (5/14/2013) Prudential Georgia Realty was recently recognized by RISMedia as one the top real estate firms in America.  The RISMedia Top 500 Power Broker report ranked Prudential Georgia Realty #30 in residential transactions.  This is the highest performance for any brokerage in Georgia.  Number two on the list of the nation’s largest firms is HomeServices of America Inc. headquartered in Minneapolis, MN with 151,017 transactions and over $42 billion in sales volume for 2012.  HomeServices of America Inc., is a Berkshire Hathaway affiliate and in March announced the acquisition of Prudential Georgia Realty.   

 

According to RISMedia, this year’s 1,000 Power Brokers collectively amassed $767,983,687,087 in sales volume for 2012 and 2,985,668 in closed transactions.  This represents a more than $158 billion increase in sales volume over 2011.  While they had expected 2012 to be a transitional year as housing began the gradual process of recovery, these expectations were widely exceeded and many brokers closed the year in much better shape than they had anticipated.

Dan Forsman, President & CEO of Prudential Georgia Realty said “We are honored by these rankings and applaud our associates on their outstanding performance.  Our leadership team and sales professionals faced one of the most difficult real estate markets in the nation during the great recession.  We saw this as both a challenge and an opportunity.  Our team worked very closely with our agents to help them weather the storm and transform their businesses.  We made strategic investments in marketing, technology, coaching, training and support services that made our agents more valuable to their clients.  Now that the market is improving, our agents are in a great position for the future.”

Prudential Georgia Realty was ranked the #1 residential real estate company by the Atlanta Business Chronicle for 2012, 2011 and 2010.  The major companies that report broker performance results including Trendgraphix, RealValuator and SmartNumbers rank the company #1 in overall transactions, listing sales and buyer sales for 2012, 2011, 2010 and 2009.  Real Trends also ranked Prudential Georgia Realty among the top 17 firms in the nation for their performance over the past 10 years.  The company has established itself as the clear leader for Atlanta real estate.   

  

About Prudential Georgia Realty:

Prudential Georgia Realty is a diversified real estate brokerage with major operations in residential real estate, new homes, corporate relocation, property management, REO Services and commercial real estate. The company has 20 locations and over 1,000 Realtors® across Metro Atlanta and has been serving clients in Metro Atlanta for over 50 years. Prudential Georgia Realty is owned by HomeServices of America, a Berkshire Hathaway Affiliate. Prudential Georgia Realty currently operates as a broker member of BRER Affiliates, LLC. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity. See Atlanta real estate, Atlanta new homes, search by neighborhood, search by school district, search rentals and much more at PrudentialGA.com.  

For additional information regarding RISMedia, visit www.rismedia.com.   

###

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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Our Prudential Georgia Realty Greater Metro Atlanta Real Estate Update! Plus A Look At Luxury Homes & Estates Digital Magazine!

English: Metro Atlanta from Open Street Map (Photo credit: Wikipedia)

Our Prudential Georgia Realty Greater Metro Atlanta Real Estate Update is now complete with all of the details in this article below!  In addition, we have information on our Luxury Homes & Estates Digital Magazine!


Greater Metro Atlanta Real Estate Update

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 36.4% from 2012 and 56.4% from 2011.

The available “months of supply” is 3.7 months based upon closed sales and 2.9 months based on pending sales. Six months of supply is considered a normal market.

The fallout rates of pending versus closings are higher than normal. Closed units are down for the past four months compared to the same month last year.

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 building 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 13.41% in the last 12 months. But values remain down 29% 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.

Appraisals can be a problem. In areas, where prices are rising the appraiser may not be considering the latest comps or may not be able to use some comps that were done as private transactions. We can help provide information to the appraiser in the formats they require. This gives us the best chance to get the highest appraised value for loan approvals.

Mortgage rates remain incredibly low – but this will change significantly in a few years. The Fed continues their program 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 low. But these conditions will not last as the real estate market continues to recover.

Luxury Homes & Estates Digital Magazine

Prudential Georgia Realty is the leader in luxury real estate for the Greater Metro Atlanta area. Our company is also part of exclusive luxury networks with a significant presence in affluent markets around the world. We publish our Atlanta Luxury Homes & Estate Digital Magazine to highlight some of these exceptional properties.

Click Here To View The Atlanta Luxury Homes Digital Magazine

Our company offers a range of specialized services and connections to luxury networks for our Fine Homes clients. Prudential Real Estate has achieved the highest average sales price for any national brand for the past 10 years. The Prudential Fine Homes International program is a networking and certification program for our Fine Homes agents. These agents receive customized training and tools plus have access to networks that helps put High Net Worth buyers and sellers together. We have referral partners in all the major feeder markets that move qualified buyers to Metro Atlanta. Here are some highlights of our network affiliations:

The Prudential Real Estate Affiliates network with over 1700 locations.

We are members of Who’s Who in Luxury Real Estate. With over 1650 members and 80,000 agents, this is the largest and most prestigious luxury network in the world. Their website is also the leading global website for luxury properties.

We are owned by HomeServices of America, a Berkshire Hathaway affiliate. HomeServices of America is ranked the nation’s second-largest, full-service residential real estate brokerage firm and one of the largest providers of integrated real estate services, with more than 17,000 agents in 21 states.

We are members of The Realty Alliance which is comprised of the largest real estate companies around the nation.

For luxury sellers, our Advanced Property Marketing System for Fine Homes is the most effective methodology to sell your property for the highest value. Our company is ranked #1 in homes sold for the past three years for a reason. Our local and global connections ensure our clients have the best chance to find that right buyer to fall in love with their amazing home.
Please contact us to learn more about our Advanced Property Marketing System for Fine Homes.




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.