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.

Atlanta Real Estate Update

The weather is getting warmer and so is the Metro Atlanta real estate market. Pendings are up and closings are up. Below is the summary for Metro Atlanta with data through June 2017.

• Year-to-date pended sales through June were up 20% versus last year. Year-to-date closings were up 4% versus last year and down up 3.4% from last June.
• The average sales price for June was $309,000 - up 2% from last month and up 6.1% from last year. 2017 is on track to be the highest average sales price on record.
• The listed inventory for June was up 5.6% from last month and down 5.4% from last June. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
• Overall months of supply for June was 2.9 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 13.3 months and properties over $2 million averaging 25.4 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 (6/27/17) was up 1.42% compared to the previous month. Metro Atlanta home values are up 65% 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 77% 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.

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 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)

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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• 2013 Atlanta Real Estate Case-Shiller Results

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor For March 2014! We Check The Metro Atlanta Real Estate Market Trends!

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor - March 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 January 2014. We have been ranked #1 for 5 years in a row.
Closings for Metro Atlanta in January were down 39% compared to last month and down 21% compared to the previous year.
For the Greater Metro Atlanta area, listed inventory was down 1.3% from December 2013 and up 13.8% compared to last year. 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 versus was 4.6 months in December 2013. 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 January we only saw 164 foreclosures and 269 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.



THE LUXURY LIVING SHOW!
Sponsored By Berkshire Hathaway HomeServices








Berkshire Hathaway HomeServices Georgia Properties is pleased to invite you to the 5th Annual Luxury Living Show at Phipps Plaza in Buckhead. In partnership with the Atlanta Homes & Lifestyles magazine and Global BMW, we are pleased to bring you the latest ideas in kitchen and bath design. Here is a brief overview of the events:
March 2 - March 31: Visit the full size "Living Kitchen and Bath" on Mall Level One, Court of the South, and experience the newest trends in kitchen and bath design. View the latest luxury automobiles from Global BMW. See the extraordinary luxury homes from the Berkshire Hathaway HomeServices Luxury Collection. Luxury Collection Specialists will be on hand during the month of March to answer your questions and discuss "best practices" for luxury real estate.
Sunday, March 2 (1PM - 5PM): Opening day festivities include fabulous shopping, along with a presentation at 3:30PM by internationally acclaimed Interior Designer, Suzanne Kasler, in the Living Kitchen. A book signing of her new book, Timeless Style, will follow her presentation.
Wednesday, March 5 - Saturday, March 8: Berkshire Hathaway HomeServices Georgia Properties will unveil an innovative Interactive Kiosk design. This is the latest technology for luxury real estate search and provides new options for consumers in a retail environment. Also learn about our new Mobile Real Estate App currently available in the App Store and Google Play Store.
Saturday, March 8 (Noon - 3PM): Top local chefs make magic happen in the Living Kitchen! Come meet them and sample some delightful treats.

Visit our Berkshire Hathaway HomeServices Luxury Collection table to enter the drawing to win a brand new iPad. We look forward to seeing you there!



Spring Forward On March 9th






Yes, it is that time of year again. Daylight Saving Time begins at 2am Sunday morning, March 9th. So remember to move your clock forward one hour before you go to bed Saturday night!

History of Day Saving Time: People often ask - what is Daylight Saving Time and why do we have it? Daylight Saving Time (or summer time as it is called in many countries) 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.

The reason many countries implement DST is to make better use of the daylight in the evenings. Some believe that it could be linked to reducing the amount of road accidents and injuries. The extra hour of daylight in the evening is said to give children more social time with friends and family and can even boost the tourism industry because it increases the amount of outdoor activities.

DST is also considered a means to save energy due to less artificial light needed during the evening hours. Clocks are set one hour ahead during the spring, and one hour back to standard time in the autumn. However, many studies disagree about the energy savings of DST - some may show a positive outcome of the energy savings, others do not.

Benjamin Franklin first suggested Daylight Saving Time in 1784, but modern DST was not proposed until 1895 when an entomologist from New Zealand, George Vernon Hudson, presented a proposal for a two-hour daylight saving shift to the Wellington Philosophical Society. The conception of DST was mainly credited to an English builder, William Willett in 1905, when he presented the idea to advance the clock during the summer months. His proposal was published two years later and introduced to the House of Commons in February 1908. The first Daylight Saving Bill was examined by a select committee but was never made into a law. It wasn't until World War I, in 1916, that DST was adopted and implemented by several countries in Europe who initially rejected the idea. The United States, Canada and some other countries extended DST in 2007. The new start date is the second Sunday in March (previously the firstSunday in April) through to the first Sunday in November (previously the last Sunday in October).

If you would like to set your clock to the correct time, please click this link.




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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Metro Atlanta Real Estate Market Trends For September 2013! Let's Check The Home Sales Stats!

The real estate numbers for the Greater Atlanta Metro real estate market are out for September 2013! Today, we're checking the stats for home sales inventory and homes that are listed for sale. Our SlideShare presentation courtesy of Prudential Georgia Realty, tells the complete story of the Atlanta real estate market as seen through the September 2013 end of month. As anticipated, Prudential Georgia Realty's company numbers continue to outperform the competition. We continue to be an excellent source for listing and selling your Atlanta area real estate.

While the market for Lake Lanier homes is different in many ways from the Atlanta real estate market, as we have stressed before, it is important to view the Atlanta market as it is closely related to many Lake Lanier homeowners. Without a doubt, the second-home market for lake homes is heavily owned by residents of Atlanta. Therefore, we like to show the data and the trends for the market in Atlanta as well as the market here on Lake Lanier. The SlideShare presentation below includes 32 very important slides which will give you an insight into what the real estate trends are in the greater metro Atlanta area. As always, please feel free to contact us for more details on the market in your local area.

Metro Atlanta Real Estate Market Trends September 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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• Lake Lanier Area Real Estate Market Videos! See The Latest Sales Trends For Our Lake Area!
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• Our Prudential Georgia Realty Greater Metro Atlanta Real Estate Update! Plus A Look At Luxury Homes & Estates Digital Magazine!

Prudential Georgia Realty Real Estate Advisor October 2013! Get The Latest Real Estate News & More!

Prudential Georgia Realty Real Estate Advisor October 2013

We are providing this monthly real estate advisor report to keep you informed about the latest trends and issues in the real estate market. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information helps our clients make better real estate decisions!

Greater Metro Atlanta Real Estate Update

For the Greater Metro Atlanta area, listed inventory is up 23% from the lowest point in February 2013. But inventory remains down 6.3% compared to 2012 levels and down 41% from 2011. The limited availability of quality properties with reasonable value has turned many local areas into a seller’s market.
The available “months of supply” is 4 months based upon closed sales (6 months is considered normal).
Closings in August were down 17% from July reflecting the seasonal “back to school” slowdown. All price points showed a drop with the $1 mil - $2 mil price range showing the greatest drop at 30.4%.
Year-to-date closings are also down 1.8% compared to the same period from 2012.
Closings under $100,000 are now 18% of all closings. Two years ago, over 50% of properties sold were in the price range. The exit of large investors has allowed the distribution of properties to return to normal.
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. New home closings are up 55% from last quarter. 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 35% from the bottom of March 2012. But values remain down 18.27% from the peak of July 2007.

 

Click here for the latest report.

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 right formats that give you the best chance to get the highest value.
Click Here for a detailed set of slides that show the National Market, the Metro Atlanta Market, The New Homes Market, and how our company is performing. There is a reason we are ranked #1 in Metro Atlanta.

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



On December 10th, our company will be adopting the new Berkshire Hathaway HomeServices brand. We are excited to begin this new chapter for our company and this conversion will bring many advantages for our agents and their clients. This year, we also celebrate 50 years of serving the needs of our clients in the Greater Metro Atlanta area. During that time, we have operated as Crest Realty, Merrill Lynch Realty, Prudential Atlanta Realty and Prudential Georgia Realty. Though the name has changed, our commitment to deliver exceptional real estate services has not. In the last five years, our company has been consistently ranked as the #1 real estate company in metro Atlanta with more homes sold than any other brokerage.

Now that our company is part of the Berkshire Hathaway family of companies, we thought it might be helpful to get to know more about our new organization:

According to the Forbes Global 2000 list, Berkshire Hathaway is the 8th largest public company in the world. The company is led by Chairman and CEO Warren Buffett who is often referred to as “the Oracle of Omaha” for his keen insight on business matters.

The Berkshire Hathaway approach is to acquire companies with great brands, great products, and strong leadership, then grow and build value over long periods of time.

Berkshire Hathaway owns and operates approximately 100 companies and employs approximately 300,000 people. Company holdings include major brands like GEICO, Fruit of the Loom, Dairy Queen, Benjamin Moore, Helzberg Diamonds, NetJets, Heinz, MidAmerican Energy, and Shaw Industries, which is located in Dalton, Georgia.

Berkshire Hathaway has major stock positions in companies like Wells Fargo (8.7%), American Express (13.7%), IBM (6%) and Coca-Cola (8.9%).

Berkshire Hathaway was named the No. 1 company in Barron’s annual ranking of the world’s 100 most respected companies.

Being part of such a large and successful organization gives us many advantages. For example, our listing clients will benefit from an unprecedented level of exposure. Look for more details and exciting news as we move closer to our big announcement on December 10th.

We look forward to leveraging the Power of Berkshire Hathaway to deliver even more advantages for our clients and customers. Contact us to learn more.

Welcome To Fall 2013!



Fall officially started at 4:44pm on Sunday, September 22nd. The Braves have clinched the National League East for the first time since 2005. College football is in full swing and the Atlanta Falcons are beginning their season with hopes of playing in the Super Bowl. We are blessed with a long fall season with pleasant weather and beautiful colors.

So what are the prospects for the colors of fall this year? “The main thing that makes for good fall color are sunny days beginning in mid- to late-August and continuing into September, coupled with cool nights,” says Howard Neufeld, an Appalachian State University professor whose weekly leaf-watching reports have earned him the title of “Fall Color Guy.” The early summer was unusually wet this year. The average rainfall for Metro Atlanta is 49.71 inches per year. In the first 8 months, we have already had 51.04 inches. But the late summer starting in August turned drier. The Atlanta-based Weather Channel predicts autumn will be more dry and cooler than average in the Southeast. That would point to a colorful tree canopy and a likelihood that many of us won’t depend too much on air-conditioning or heat going into December.

Click here to view the locations for the South’s Best Fall Colors according to Southern Living magazine. So get out there and enjoy our beautiful fall season!

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 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!
• Prudential Georgia Realty Real Estate Advisor For April 2013

Atlanta Real Estate Market Trends For August 2013! We Check The Stats On Homes For Sale, Inventory And Sales!

The real estate numbers for the Greater Atlanta Metro real estate market are out for August 2013! Today, we're checking the stats for home sales inventory and homes that are listed for sale. Our SlideShare presentation courtesy of Prudential Georgia Realty, tells the complete story of the Atlanta real estate market as seen through the August 2013 end of month. The year-over-year numbers, show a surprising change in the market with a slight softness as compared to 2012. Nevertheless, Prudential Georgia Realty's company numbers continue to outperform the competition. We continue to be an excellent source for listing and selling your Atlanta area real estate.

While the market for Lake Lanier homes is different in many ways from the Atlanta real estate market, as we have stressed before, it is important to view the Atlanta market as it is closely related to many Lake Lanier homeowners. Without a doubt, the second-home market for lake homes is heavily owned by residents of Atlanta. Therefore, we like to show the data and the trends for the market in Atlanta as well as the market here on Lake Lanier. The SlideShare presentation below includes 37 very important slides which will give you an insight into what the real estate trends are in the greater metro Atlanta area. As always, please feel free to contact us for more details on the market in your local area.

Atlanta Real Estate Market Trends For August 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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• Watch The Lake Lanier Real Estate Market Like A Pro! See Lake Lanier Home Sales As They Go Under Contract!
• Thinking Of Selling Your Lake Lanier Home? Consider These Latest Market Numbers!

Prudential Georgia Realty Real Estate Advisor For July 2013! Take A Look At The Strengthening Trends!

Prudential Georgia Realty
Real Estate Advisor - July 2013


We are providing this monthly real estate advisor report to keep you informed about the latest trends and issues in the real estate market. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information helps our clients make better real estate decisions!

Greater Metro Atlanta Real Estate Update

For the Greater Metro Atlanta area, the "for sale" inventory is down to levels not seen since the early 1990s. The availability of quality properties with reasonable value has turned many local areas into a seller’s market.
The available “months of supply” is 3.3 months based upon closed sales (6 months is considered normal).
There is a feeding frenzy for desirable properties where multiple offers are becoming the norm. Though buyer demand is very strong, buyers are struggling to get an accepted offer on their prospective properties. As a result, 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. New home closings are up 55% from last quarter. 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 20% in the last 12 months. But values remain down 25% 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.

Click Here for a detailed set of slides that show the National Market, the Metro Atlanta Market, The New Homes Market and how our company is performing. There is a reason we are ranked #1 in Metro Atlanta.

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.


Get To Know HomeServices of America, Inc. TM



Now that our company is part of the Berkshire Hathaway family of companies, we thought it might be helpful to get to know more about our new organization. Click here for more info.
HomeServices of America, A Berkshire Hathaway Affiliate is our parent company.
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. In 2012, HomeServices brokered over $42 billion in home sales and closed nearly $4 billion in home mortgages.

HomeServices of America is led by Ron Peltier, chairman and CEO and Bob Moline, president & COO. Both are real estate veterans and have a deep understanding of our industry.
In October 2012, HomeServices also became the majority owner in HSF Affiliates LLC, which operates the Prudential Real Estate franchise network with over 1700 locations and 44,000 real estate agents.
HSF Affiliates will also be introducing the new BERKSHIRE HATHAWAY HomeServices real estate brand.

This fall our company will be launching the new BERKSHIRE HATHAWAY HomeServices real estate brand right here in Metro Atlanta!

BBDO has been engaged as the advertising agency to help us make a big splash with the new brand. BBDO is the most awarded advertising firm in the world.
The introduction of this exciting new brand will give our company and our clients an unprecedented opportunity for exposure.

Being part of such a large and successful organization gives us many advantages. We are able to leverage our resources to innovate faster and offer services that will not be feasible for smaller organizations.

If you or someone you know is interested in selling their property, please contact us to learn how we can provide the best exposure for their property.


Happy July 4th - Independence Day!



Independence Day, commonly known as the Fourth of July, is a federal holiday in the United States commemorating the adoption of the Declaration of Independence on July 4, 1776. During the American Revolution, the legal separation of the Thirteen Colonies from Great Britain occurred on July 2, 1776, when the Second Continental Congress voted to approve a resolution of independence declaring the United States independent from Great Britain. After voting for independence, Congress turned its attention to the Declaration of Independence, a statement explaining this decision, which had been prepared by a Committee of Five, with Thomas Jefferson as its principal author. Congress debated and revised the wording of the Declaration, finally approving it on July 4. From the outset, Americans celebrated independence on July 4, the date shown on the much-publicized Declaration of Independence, rather than onJuly 2, the date the resolution of independence was approved in a closed session of Congress.

Historians have long disputed whether Congress actually signed the Declaration of Independence on July 4, even though Thomas Jefferson, John Adams, and Benjamin Franklin all later wrote that they had signed it on that day. Most historians have concluded that the Declaration was signed nearly a month after its adoption, on August 2, 1776, and not on July 4 as is commonly believed.

In a remarkable coincidence, both John Adams and Thomas Jefferson, the only signers of the Declaration of Independence later to serve as Presidents of the United States, died on the same day: July 4, 1826, which was the 50th anniversary of the Declaration. Although not a signer of the Declaration of Independence, but another Founding Father who became a President, James Monroe, died on July 4, 1831, thus becoming the third President in a row who died on this memorable day. Calvin Coolidge, the 30th President, was born on July 4, 1872, and, so far, is the only President to have been born on Independence Day. We wish you and your loved ones a safe and Happy Independence Day!



The Summer Market Is Here And Real Estate Is HOT! If You Know Someone Who Can Benefit From Our Real Estate Expertise,
We Would Love To Help. Better Information Leads To Better Decisions!




Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at 678-513-2014 or email us at APrescott@PrudentialGeorgia.com.

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