Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor – October 2017

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – October 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!

Hurricane Irma slowed closings in September but we are still on track to have a positive year for the Metro Atlanta real estate market. Below is the summary for Metro Atlanta through September 2017.

• Metro Atlanta real estate is the tale of three different markets. The entry-level market has strong demand and very low inventory. There are many multiple offers and values are rising faster than other segments. The middle market is showing normal signs of supply and demand. The luxury market remains a buyer’s market with buyers negotiating better pricing and terms.
• Hurricane Irma had a negative impact on September closings. Insurance companies temporarily stopped writing policies and many buyers required re-inspections which impacted closings.
• September pendings were down 15.2% from last month but up 4.7% from the prior year. September closings were down 18.6% from August and 6.9% from the prior year.
• Year-to-date pended sales units through September remain up 4% versus last year. Year-to-date closed units also remain up 4%. Year-to-date closed sales volume remains up 8.7%.
• The average sales price for September was $285,000 – down 2.4% from last month and up 5.2% from last year. 2017 is on track to be the highest average sales price on record.
• Listed inventory for September was down 1.5% from last month and down 6.3% from last year.
• Overall months of supply for September was 3.6 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 16.8 months and properties over $2 million averaging 35.3 months to close. These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
• The latest Case-Shiller Index for Atlanta (9/26/17) was up .79% (statistically flat) compared to the previous month. Metro Atlanta home values are up 68% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.
• Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. Ask about our Second Opinion program with $100 gift card for a free look. Over 84% of clients who tried the Second Opinion Program ended up closing their loan with HomeServices Lending.

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 MEGA Open House Event is Sunday, October 15th from 2pm – 5pm. There will be hundreds of beautiful houses open across Metro Atlanta. We are having great success in attracting buyers for our MEGA Open Houses! Our monthly MEGA Open House Events are very different from the standard open houses held by other real estate companies. We invest in significant advertising on Zillow, Facebook, digital billboards and local promotions to attract more visitors. We are also the leader in listed properties so we have a lot of inventory to see! If you know anyone interested in listing their home, we would be honored to help.

The Second Opinion mortgage program from HomeServices Lending has been a huge success for our clients. Over 84% of consumers who have opted for the second look at their purchase mortgage or refinancing have decided to go with HomeServices Lending. The Second Opinion program offers a $100 gift card just to take a free look and see if HomeServices Lending offers a better program. HomeServices Lending has a 97% satisfaction rate and faster loan processing timeframes. If you or someone you know is interested in a purchase mortgage or refinancing, we would be happy to make an introduction to our Loan Officer from HomeServices Lending.

The Sunshine Kids Foundation provides exciting, positive group activities and trips for children with cancer to help them forget about their illnesses for a moment and do what kids are supposed to do . . . have a little fun and celebrate life! The Sunshine Kids Auction including a Live and Silent auction will be held onOctober 20th at the Metropolitan Club in Alpharetta. G.W. Bailey, the Executive Director of the Sunshine Kids and acclaimed TV/movie actor, will be there to help us. We also have our talented live auctioneers, Tad & Drex from B98.5 radio. The Registration and the Silent Auction will begin at 7pm and the live auction starts at9pm. This is truly an incredible event. The food is awesome, the atmosphere is high-energy and the bidders get some great deals. Most importantly, we have the opportunity to raise a significant amount of money for The Sunshine Kids. Tickets can be purchased at: https://sunshinekids.auction-bid.org.

We would like to wish you and your family a safe and Happy Halloween. Halloween falls on Tuesday night this year so we wanted to share a couple of ideas that you might use to get ready. For those that are a little more adventurous with your pumpkins, you may want to carve up some scary or funny pumpkins to decorate your home. We thought you might enjoy the options at ExtremePumpkins.com. Now you can have the coolest house on the street!

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 770-844-8484 or email us at Arthur.Prescott@BHHSGeorgia.com.

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Atlanta Real Estate Market Trends! Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor For August 2017

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – August 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 weather has been mixed this summer and the Metro Atlanta real estate market has also seen mixed results. Below is the summary for Metro Atlanta through July 2017.

• Year-to-date pended sales through July were up 4% versus last year. Year-to-date closings were also up 4%. Pending for July were up 11.7% from last July. But closings for July were down 5.2% from last July and down 17.3% from past month.
• The average sales price for July was $304,000 – down .6% from last month and up 5.6% from last year. 2017 is on track to be the highest average sales price on record.
• The listed inventory for July was up 2.2% from last month and down 4.5% from last July. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
• Overall months of supply for July was 3.3 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 12.5 months and properties over $2 million averaging 20 months to close. These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
• The latest Case-Shiller Index for Atlanta (7/25/17) was up 1% compared to the previous month. Metro Atlanta home values are up 67% from the bottom of March 2012. Increased homes values are building equity and getting sellers back into the market.
• Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. Ask about our Close On Time Guarantee and Free Second Opinion programs. Over 80% of clients who tried the Second Opinion Program found a better solution and ended up closing their loan with HomeServices Lending.

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 MEGA Open House Event is Sunday, August 20th from 2pm – 5pm. There will be hundreds of beautiful open houses open across Metro Atlanta. We are having great success in attracting buyers for our MEGA Open Houses! Our MEGA Open House Events are very different from the standard open houses from other companies. We invest in significant advertising on Zillow, Facebook, digital billboards and local promotions to attract more visitors. We are also the leader in listed properties so we have a lot of inventory to see! If you know anyone interested in listing their home, we would be honored to help.

The Greater Metro Atlanta area is home to thousands of elementary, middle and high schools. Safe Kids USA offers the following Top Back to School Safety Tips:

Reminders for Drivers:

• Slow down and be especially alert in residential neighborhoods and school zones.
• Watch for children on and near the road in the morning and after school hours.
• Reduce any distractions inside your car so you can concentrate on the road and your surroundings. Put down your phone and don’t talk or text while driving.

Reminders for Kids:

• Kids should cross the street with an adult until they are at least 10 years old.
• Never run out into the streets or cross in between parked cars.
• Make sure kids always walk in front of the bus where the driver can see them.

Labor Day is Monday September 4, 2017. Together, we will celebrate the contributions of workers across America. Labor Day has also become the symbolic end of the summer season - although summer officially ends on September 21. In high society, Labor Day is the last day of the year when it is fashionable to wear white or seersucker.

There is some debate over who first proposed the celebration of Labor Day back in 1882. Some believe it was a gentleman named Matthew Maguire who was serving as the secretary of the Central Labor Union of New York. Others believe it was Peter McGuire of the American Federation of Labor who had seen a similar celebration in Canada. Regardless of which Maguire/ McGuire, we are all happy this popular federal holiday now exists.

Labor Day is also the unofficial start of football season! High school, college and NFL teams will be underway. May your favorite teams play well.

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 770-844-8484 or email us at Arthur.Prescott@BHHSGeorgia.com.

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor For February 2016! Let's Check The Atlanta Real Estate Market Trends!

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor For February 2016!  Let's Check The Atlanta Real Estate Market Trends!

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!

 

On Ground Hog Day, General Beauregard Lee did not see his shadow which forecasts an early spring. Our company is having a very fast start to 2016 with pending sales up over 20%.But the market as a whole is relatively normal compared to last year.

• Closings for January 2016 were up 1.4% versus January 2015 – which is statistically flat.
• The average sales price for January was $258,000 which was down 4% from last month and up 8% from last year.
• The listed inventory for January was down 4.3% from last month and down 4.6% 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 January was 5.6 months versus 3.6 months in December and 5.9 months last January. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 22 months and properties over $2 million averaging 41 months.
• The latest Case-Shiller Index (1/26/16) reports that Metro Atlanta home values are up 52% from the recent bottom of March 2012 and up 5.6% from last year. Increased homes values are getting some sellers back into the market.
• Visit HomeServices Lending at http://Georgia.HomeServicesLending.com for the latest mortgage rates. The Mortgage Bankers Association predict rates over 5% in 12 months.
• New Homes are moving fast – but many builders cannot build them fast enough for the demand. Visit http://www.NewHomesServicesGA.com to view new home communities.
• Commercial real estate is also making a comeback in Metro Atlanta. Our Commercial Real Estate Division specializes in these areas and would be happy to help you.

 

Penske Truck Rental published their latest moving destination list and Atlanta was ranked #1 for the 6th year in a row. The trend of moving to the Sun Belt has returned. Desirable attributes that help Metro Atlanta include a business friendly environment, low cost of living for a metro area, airport, moderate weather with 4 seasons and a high quality of life.

Here is the Top 10 List including previous rank:

1. Atlanta (1)
2. Phoenix (4)
3. Tampa/Sarasota (2)
4. Dallas/Fort Worth (3)
5. Orlando (5)
6. Denver (7)
7. Houston (8)
8. Seattle (6)
9. Las Vegas (10)
10. Chicago (9)

 

Our MEGA Open House Event will be Sunday, February 21st from 2pm – 5pm. There will be hundreds of beautiful open houses across Metro Atlanta. We will be giving away a brand new iPad Air to one lucky person in our sweepstakes promotion. This might be the right time to make your move! Contact us for additional details.

 

Interested in the latest home values? Check out our exclusive home value estimate tool that provides three value estimates from sources including Zillow, Local Public Records and RPR (Realtors® Property Resource). We also provide a new option to make your own value adjustments on any property. You can print, save, share and get a reminder for the latest updates. This is the most comprehensive solution for home value estimates available. If you are interested in listing your property, we have additional information sources and professional local insight to help determine the most accurate value of your property.

We hope everyone had a great Valentine’s Day and wish you and your loved ones an early spring!

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.

Related articles

• The Latest Real Estate Market Trends For Metro Atlanta! Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor - January 2016!

The Latest Real Estate Market Trends For Metro Atlanta! Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor – January 2016!

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – January 2016

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 strong potential for rising mortgage rates is motivating many consumers to take action now. Therefore, we expect early 2016 to be more active than normal.

Closings for 2015 were up 12.5% versus 2014. The December closings were up 3% compared to last month and down 12.8% compared to last year.

The average sales price for 2015 was $266,000 compared to $249,000 in 2014. The December average sales price was $272,000 which was up 2.6% from last month and up 6.7% from last year.

Listed inventory was up 3% in 2015 versus 2014. The inventory for December was down 8.2% from last month and down 3.5% from last year. Inventory is up 52% from the recent low mark of February 2013. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.

Overall months of supply for 2015 was 4.2 months versus 4.5 months in 2014. The December months of supply was 4.6 which was down from 5.2 months in November and up from 4.2 months last December. Six months is considered normal. 

Luxury properties are taking longer with homes above $1 million averaging 19 months and properties over $2 million averaging 36 months.

The latest Case-Shiller Index (12/29/15) reports that Metro Atlanta home values are up 53% from the recent bottom of March 2012. Increasing homes values are getting some sellers back into the market but also decreasing affordability for other buyers.

Visit HomeServices Lending at http://georgia.homeserviceslending.com for the latest mortgage rates. The Mortgage Bankers Association predict rates over 5% in 12 months.

New Homes are moving fast – but many builders cannot build them fast enough for the demand. Visit http://www.NewHomesServicesGA.com to view new home communities.

Commercial real estate is also making a comeback in Metro Atlanta. Our Commercial Real Estate Division specializes in these areas and would be happy to help you.



Realtor.com predicts that Metro Atlanta will be the Number 5 Hottest Real Estate Market in 2016. Chief Economist, Jonathan Smoke predicts a 7.4% increase in existing home sales. Realtor.com also noted that surging demand can be attributed to growing household formation, a prosperous job market, and low unemployment rates as well as large populations of key demographics. Older Millennials (25 to 34 years old), younger Gen Xers (35 to 44 years old), and retirees (65 to 74 years old) will be driving home sales in 2016.

SmartNumbers reports that Baby Boomers continue to be the largest segment for new construction buyers in Metro Atlanta. First Time Buyers are #2 but lower than historical trends. The average age of a First Time Buyer is now late 20s/ early 30s. Rental rates have skyrocketed which makes home ownership very attractive. Gen Xers are the next largest segment driven by the normal trends of household formation with growing families and move-ups. The rising costs of new home construction and scarcity of larger land tracts are driving builders to move out further into the suburbs for new projects. Tear-downs, renovations and smaller new home projects are still popular in the interior markets.



Our mobile app now offers “search by school district” for all metro area public schools. This search option is also available on our websites. To search by school district, simply click the “search icon” and enter the name of your school in the search bar. Select any other attributes and click “search homes” to see the available properties in that school district. Our mobile app offers many advantages including search by DriveTime, Sold Properties from the MLS and more. Our app is fully integrated to our website so you can use any device, anytime and anywhere.



Interested in the latest home values? Check out our exclusive home value estimate tool that provides three value estimates from sources including Zillow, Local Public Records and RPR (Realtors® Property Resource). We also provide a new option to make your own value adjustments on any property. You can also print, save, share and get a reminder for the latest updates. This is the most comprehensive solution for home value estimates available. If you are interested in listing your property, we have additional information sources and local insight to help determine the most accurate value of your property.



We want to wish you a Happy 2016. We hope it is your best year ever!

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.

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• The Latest Real Estate Market Update For Cumming Georgia And Other Lake Lanier Areas! (lakesidneylanierhomes.blogspot.com)
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Berkshire Hathaway HomeServices Georgia Properties Metro Atlanta Real Estate Advisor - July 2015! We Check The Stats!

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – July 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!

Summer is here. The real estate market is hot and sales activity is high. Click here for the full Greater Metro Atlanta Real Estate Report. Here is a summary:

• Closings for June were up 4.9% compared to last month and up 12.3% compared to last year.
• The average sales price jumped to $288,000 in June versus $281,000 in May. The average sales price for year-to-date 2015 is $263,000 which is up 49% from the bottom of 2011.
• Listed inventory was up 5.3% from last month and flat compared to last year. Inventory is up 42% 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 in those areas. Remember, real estate is local and markets can be very different.
• Months of supply remained very low at 3.5 months for both May and June. Six months is considered normal. Luxury properties are taking longer to sell with homes above $1 million showing 10 months of supply and properties over $2 million showing 21 months of supply.
• The latest Case-Shiller Index (6/30/15) reports that Metro Atlanta home values are up 47% from the recent bottom of March 2012. Increasing homes values are getting some sellers back into the market but also decreasing affordability for other buyers.
• Mortgage rates remain very attractive but are expected to move higher soon. Click here for the latest rates.
• New Homes are moving fast – but many builders cannot build them fast enough. Visitwww.NewHomesServicesGA.com to view new home communities.
• Commercial real estate is also making a comeback in Metro Atlanta. Our Commercial Real Estate Division specializes in these types of projects and would be happy to help you.

MEGA Open House Event!

Berkshire Hathaway HomeServices Georgia Properties is pleased to announce our next MEGA Open House event on Sunday, July 19th from 2-5pm. There will be hundreds of beautiful properties on display. With low inventory and mortgage rates expected to rise, the market is very active this summer. Visit one of our open houses and register for a chance to win a brand new iPad Air2. Contact us to learn more.

SOLD PROPERTIES Now Available!

New MLS rules now allow us to show SOLD PROPERTIES on our websites without requiring registration. Now you can easily view SOLD PROPERTIES on your desktop, laptop, tablet or smartphone. This also applies to our Mobile App. Our search tools offer the best data and most comprehensive options. Here are some examples of searches you can perform:

• See Instant Home Value Estimates
• Search By Google Map
• Search By Neighborhood (using Advanced Search Options)
• Search By School District (using Advanced Search Options)
• Search By Drive Time and Walk Score (Mobile App)

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 Metro Atlanta Real Estate Advisor October 2014! See The Latest Atlanta Real Estate Market Trends!

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 16.9% compared to last month and down 2.5% compared to the previous year.  This reflects the normal seasonal slowing for the fall.
  Click here for a detailed report.
• The Metro Atlanta market is 50 units ahead of 2013 closings.  If you exclude the heavy volumes of investors buying properties under $100,000 last year, the market above $100,000 is actually up 3084 units compared to 2013.  The largest segment is $200k - $500k.
• The average sales price was $253,000 in September versus $256,000 in August.  The average closed sale price for the full year was $250,000 which was up 42% from the bottom of 2011.
• Listed inventory was down .3% from last month and up 18.2% 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. Remember, real estate is local and markets are different.
• Months of supply is 5.2 months versus 4.4 last month.  Six months is considered normal.
• New Homes are making a comeback.  The problem is that many builders cannot build them fast enough!  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.  Click here to view new home communities.

Introducing Local Home Value Estimates

Berkshire Hathaway HomeServices Georgia Properties is introducing a new feature that allows consumers to enter an address to “click and see” local home value estimates.  The estimates are free and do not require registration.  The company is also introducing a new market trends report calledMarket Watch (based on MLS data) and a new Interactive AVM (Automated Valuation Model)report which is the same report used by lenders to estimate home values for mortgages.

"It is clear that consumers want to see home value estimates and we are pleased to be the first brokerage in Metro Atlanta to provide these innovative new solutions," said Dan Forsman, president & CEO of Berkshire Hathaway HomeServices Georgia Properties.  "Real estate is local.  We have the advantage of proprietary MLS data, exclusive analytics tools and unique insight from our 1200 local experts.  These powerful new tools will bring significant advantages that benefit our clients and our agents.  And we are just getting started!  Look for more exciting announcements very soon."

Home values estimates have become popular on national real estate websites like Zillow.com, Trulia.com and Realtor.com.  The accuracy of these estimates is very mixed as the data is primarily based on tax records.  The home value estimates provided by Berkshire Hathaway HomeServices Georgia Properties are powered by Collateral Analytics which has been rated as one of the most accurate sources by the lending industry.  The report shows a value estimate, value range plus other data from tax records such as last sale price and date, comparable properties and local market trends.

View Market Trends Including The Latest MLS Data

The Market Watch report includes local MLS data for a more accurate perspective of local market trends.  If a property was sold yesterday, it would be reflected in this report as opposed to reports based on tax records which may take weeks or months to update.  To view a Market Watch report, consumers can register for a free My Home Finder account.  Only member brokerages and their registered clients can get access to local MLS data.

Get Report Used By Lenders To Qualify Mortgages

The new Interactive AVM (Automated Valuation Model) report is the same report used by lenders to estimate home values for mortgage loans.  The I-AVM allows the agent to adjust comps and other factors for a more accurate value estimate.  This powerful tool can combine MLS data, tax records and the unique insight from the local agent.  The I-AVM is only available from your local Berkshire Hathaway HomeServices Georgia Properties agent.

Just visit our website or contact us to learn how to take advantage of these new innovations that provide better information about real estate.  Better information leads to better decisions!

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.

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.

Related articles

• Berkshire Hathaway HomeServices Georgia Properties Metro Atlanta Real Estate Advisor - September 2014 (lakesidneylanierhomes.blogspot.com)
• Berkshire Hathaway HomeServices Georgia Properties Introduces Local Home Value Estimates for Consumers (rismedia.com)

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

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor - April 2014

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!

• Click here for a detailed market report for the Greater Metro Atlanta area.
• Once again, BHHS Georgia Properties was Number 1 in both homes sold and buyers represented for February 2014. We have been ranked #1 for 5 years in a row.
• Closings for Metro Atlanta in February were down 15% compared to last month and down 25% compared to the previous year.
• For the Greater Metro Atlanta area, listed inventory was down 1.9% from January 2014 and up 16% compared to February 2014 levels. The limited availability of quality properties has turned some local areas into a seller’s market.
• The available “months of supply” rose to 6.6 months which is similar to January 2014. The slower pace of sales and slightly higher inventory are creating a more normal market condition.
• The pace of short sales and foreclosures coming on the market has slowed considerably. In 2010, over 60% of sales were distressed properties but in February we only saw 134 foreclosures and 209 bank-owned sales. Resales and New Homes 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 37% from the bottom of March 2012. But values remain down 16.94% from the peak of July 2007. Click here for the latest report.
• The trend for mortgage rates is higher. The Mortgage Bankers Association and Freddie Mac predict 30-year mortgage rates to be over 5% in 2014. This could significantly reduce buying power for those that wait.
• Baby Boomers are the leading buyer segment followed by First Time Buyers. Move-Up Buyers are showing some signs of improved activity but remain well below historical levels.

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.

Berkshire Hathaway HomeServices
Ranked Brand Of The Year

Berkshire Hathaway HomeServices, the new real estate brokerage network operated by HSF Affiliates LLC, today announced it was named “Real Estate Agency Brand of the Year” in the 26th annual Harris Poll EquiTrend® study. Berkshire Hathaway HomeServices received the highest ranking in the Real Estate Agency category based on consumers’ perception of its brand familiarity, quality and purchasing consideration, among other qualifying elements. The study was based on opinions of more than 40,000 U.S. consumers surveyed online earlier this year.

“We are delighted to be recognized by consumers in the venerable Harris Poll EquiTrend ® study,” said Earl Lee, CEO of HSF Affiliates LLC, which operates Berkshire Hathaway HomeServices. “This terrific honor by consumers is a tribute to our powerful brand – whose namesake is the world - renowned Berkshire Hathaway Inc. – and the top-quality affiliates and agents who represent it.” Added Stephen Phillips, president of Berkshire Hathaway HomeServices: “We are humbled by the honor, particularly since our brand was not even a year old at the time of the study. We look forward to a bright future as part of Berkshire Hathaway HomeServices.”

The brand received the highest numerical Equity Score among large real estate brands included in the 2014 Harris Poll EquiTrend® study, which measures and compares the brand health of more than 1,500 brands across 170 categories from airlines and apparel to retailers and real estate. Consumers responded with their brand perceptions, gauging their emotional connection to the brand, plus brand awareness, influence and familiarity. According to Harris, a brand is defined as a set of persuasive promises about a product, service or organization that differentiates it from others in a universally positive, contextually relevant or personally compelling way. Berkshire Hathaway HomeServices, which transitioned its first affiliates in September 2013, has grown exponentially with independently owned brokerages operating across America. The network is built on a foundation of quality with rigorous standards for affiliation. 

Contact Us To Put The Power Of Berkshire Hathaway HomeServices To Work For You!

Happy Good Friday and Happy Easter 2014!

Easter is a wonderful sign that spring is here. It is celebrated by people of many faiths. From Easter egg hunts, visits from the Easter Bunny and Easter brunches with great food – this is a popular time of year. It is also noted as the beginning of the social season in many circles.

For Christians, Easter is a religious feast and holiday celebrating the resurrection of Jesus Christ on the third day at Calvary as described in the New Testament. Easter is preceded by Lent, a forty-day period of fasting, prayer, and penance. The last week of Lent is called Holy Week, and it contains MaundyThursday and the Last Supper, as well as Good Friday, commemorating the crucifixion and death of Jesus. Easter is followed by a fifty-day period called Eastertide or the Easter Season, ending with Pentecost Sunday.

We hope you and your family have a wonderful Easter. We are so happy that spring is finally here!

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 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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Atlanta Case-Shiller Index Reported February 2014! We Check The Atlanta Real Estate Market Trends!

This article is provided coutesy of Berkshire Hathaway HomeServices Georgia Properties and the atlscoop Blog!

The latest Case-Shiller Index was published on Tuesday, February 25th 2014. As always, the index reports on data 60 days in arrears. Therefore, the index reports Metro Atlanta home values for December 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 13.4% over the same month a year ago.  For 2013, the National Case-Shiller Index was up 11.3%.  The November index for Metro Atlanta shows a .02% (non-seasonally adjusted) decrease in home values from November 2013 and an 18.13% increase over the same month last year. While these numbers remain very positive, we must bear in mind that home prices are still down 16.94% from the peak of July 2007. The October index for Atlanta is 113.35. This is the third month in a row 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 13.8% from the bottom of February 2013. This is down 1.3% from last month and up 13.8% from the same month last year.   Closings were down 39% from last month and down 22% from the same month last year.  Months of inventory are now 6.6 month based upon the latest closed sales trend. Six months supply is considered normal. We saw an extended period of low inventory in 2013.  But the recent trend is rising and we appear headed for a more normal level of inventory for the 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 Berkshire Hathaway HomeServices 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 third negative result in a row 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 16.94% 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 Berkshire Hathaway HomeServices 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 9.80%
Homes Bought in 2001 – Gain of 3.98%
Homes Bought in 2002 – Gain of .12%
Homes Bought in 2003 – Loss of 3.03%
Homes Bought in 2004 – Loss of 6.33%
Homes Bought in 2005 – Loss of 10.83%
Homes Bought in 2006 – Loss of 14.89%
Homes Bought in 2007 – Loss of 15.44%
Homes Bought in 2008 – Loss of 7.58%
Homes Bought in 2009 – Gain of 4.56%
Homes Bought in 2010 – Gain of 7.17%
Homes Bought in 2011 – Gain of 15.24%
Homes Bought in 2012 – Gain of 24.95%

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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