Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor – March 2019

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. Better information leads to better real estate decisions!





Click here for a comprehensive market report for Greater Metro Atlanta and North Georgia through February 2019. The report includes National Trends, the Greater Metro Atlanta Real Estate Report plus Housing and Economic Drivers for Georgia.

Metro Atlanta Closed Units were up 23% from January and down 1.9% compared to last February. March activity looks stronger as we move toward the spring market.

Contact us to learn more about your local trends.




March Madness is upon us. Here is a link to a printable bracket. We will find out who wins in Minneapolis on Monday night, April 8th. Can you pick the perfect bracket? According to a study from DePaul University, the odds of picking a perfect bracket are one in 9.2 quintillion (1 in 9,223,372,036,854,775,808). The odds are worse than winning two Mega Millions jackpots in a row. Did you know?


Only once have all four #1 seeds made it to the final four (2008).
Until last year, no #16 seed had ever beaten a #1 seed in the first round. #16 seed Maryland-Baltimore County defeated #1 seed Virginia 74-54 in the first round only to lose in the second round to Kansas State.
The phrase “March Madness” was first coined in 1982 by sportscaster Brent Musburger.
In the 80 years of the tournament, only 35 schools have ever won the top prize.
During March Madness, pizza orders increase by 19% and beer sales increase by 28%. Dessert orders increase 9% after favorite teams lose.

March Madness is big fun and big business. We hope your favorite team has a great run in the tournament. It will be fun to watch the buzzer beaters, Cinderella stories and epic matchups!





Our next MEGA Open House Event is Sunday, March 24th from 2pm – 5pm. There will be hundreds of beautiful open houses available and one lucky sweepstakes winner will get a cool Amazon Alexa Prize Package.

MEGA Open House Events are a very effective component of our Advanced Property Marketing for our seller clients to attract more buyers. We run extensive open house ads on Zillow plus Facebook, Instagram, Google and WAZE to generate interest from potential buyers.

If you know anyone interested in listing their home, contact us so we can get them scheduled for a MEGA Open House Event!

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 seventeen years 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 – February 2019

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. Better information leads to better real estate decisions!

Click here for a comprehensive market report for Greater Metro Atlanta and North Georgia through December 2018. The report includes National Trends, the Greater Metro Atlanta Real Estate Report plus Housing and Economic Drivers for Georgia.
Metro Atlanta Closed Units were down 2.1% for all residential and up 1.1% for single family homes compared to last January. Listed Inventory was up 15.7% and Months of Inventory increased to 4.6 months. February activity looks strong as we move toward the spring market.
Contact us to learn more about your local trends. We can also provide you our exclusive Buyer Market Analysis that shows real-time buyers looking for a home like yours!

Berkshire Hathaway HomeServices Georgia Properties is the official launch partner for Zillow 3D Home Tours in Metro Atlanta and North Georgia.  Zillow 3D Home Tours help listings get the highest priority when consumer search the #1 real estate website in the world. If you know anyone who is considering listing their home, we can help them reach more buyers!

Our next MEGA Open House Event is Sunday, March 10th from 2pm – 5pm. There will be hundreds of beautiful open houses available and one lucky sweepstakes winner will get a cool Amazon Alexa Prize Package.
MEGA Open House Events are a very effective component of our Advanced Property Marketing for our seller clients to attract more buyers. We run extensive open house ads on Zillow plus Facebook, Instagram, Google and WAZE to generate interest from potential buyers.


If you know anyone interested in listing their home, contact us so we can get them scheduled for a MEGA Open House Event!

Did you know that China is the leading source of International buyers? The Chinese government blocks traditional real estate websites so reaching these 1.39 billion potential buyers requires a different approach. Our strategic partnership with Juwai.com and the Tencent network reaches 900 million potential buyers in China. Our listings are professionally translated and receive the highest exposure. No other company has this type of exposure to the largest and fastest growing segment of International buyers.

Berkshire Hathaway HomeServices Georgia Properties is supercharging our listings with an innovative listing advertising program on Facebook, Instagram and Google. For new listings, we created paid ads that are geo-targeted to your local community. When consumers click on the ad, they are directed to our listing detail page to view the property. We place a cookie on their device and continue to follow them with Dynamic Ads of that listing across the Google Display Network and Facebook Advertising Network. In 2018, this sophisticated social and digital advertising generated over 16 million ad impressions and 500,000 clicks to our listings. Then, the Dynamic Ads generated another 6 million ad impressions and 250,000 clicks back to our listings. No other brokerage offers such extensive exposure to potential buyers.

If you or anyone you know is considering listing their home this spring, contact us to learn how we expose our listings to the largest audience!

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 – January 2019

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor – January 2019

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 leads to better real estate decisions!




Click here for a comprehensive market report for Greater Metro Atlanta and North Georgia through December 2018. The report includes National Trends, the Greater Metro Atlanta Real Estate Report plus Housing and Economic Drivers for Georgia.

Contact us to learn more about your local trends. We can also provide you our exclusive Buyer Market Analysis that shows real-time buyers looking for a home like yours!





Berkshire Hathaway HomeServices Georgia Properties is the official launch partner for Zillow 3D Home Tours in Metro Atlanta and North Georgia. Zillow 3D Home Tours help listings get the highest priority when consumer search the #1 real estate website in the world. If you know anyone who is considering listing their home, we can help them reach more buyers!





Our next MEGA Open House Event is Sunday, February 10th from 2pm – 5pm. There will be hundreds of beautiful open houses available and one lucky sweepstakes winner will get a cool Amazon Alexa Prize Package.
MEGA Open House Events are a very effective component of our Advanced Property Marketing for our seller clients to attract more buyers. We run extensive open house ads on Zillow plus Facebook, Instagram, Google and WAZE to generate interest from potential buyers.

If you know anyone interested in listing their home, contact us so we can get them scheduled for a MEGA Open House Event!

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 – December 2018

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor – December 2018

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 leads to better real estate decisions!





Click here for a comprehensive market report for Greater Metro Atlanta and North Georgia through November 2018. The report includes National Trends, the Greater Metro Atlanta Real Estate Report plus Housing and Economic Drivers for Georgia.

• The entry-level market has strong demand and very low inventory. The luxury market remains a buyer’s market in most areas with buyers negotiating better pricing and terms.
• Mortgage Rates are rising slowly which is impacting affordability in the entry-level market. Metro Atlanta remains very affordable relative to other metro areas.
• Visit Prosperity Home Mortgage to meet one of our Mortgage Consultants. Ask about the Prosperity Buyer Advantage and our 7-Day Close program.
• Contact us to learn more about your local trends. We can also provide you our exclusive Buyer Market Analysis that shows real-time buyers looking for a home like yours!

Berkshire Hathaway HomeServices Georgia Properties is the official launch partner for Zillow 3D Home Tours in Metro Atlanta and North Georgia. Zillow 3D Home Tours help listings get the highest priority when consumer search the #1 real estate website in the world. If you know anyone who is considering listing their home, we can help them reach more buyers!






See the power outage checklist and car checklist to help you get prepared. Experts are predicting a colder than normal winter for our area this year. We want you to be ready and safe!






We wish you and your loved ones a Merry Christmas, Happy Hanukkah and Happy Holiday. Enjoy time with your family and friends and be safe during the holiday season. This is a special time of year and we thank all our clients for their trust. 2018 has been a very good year for our clients and the outlook for 2019 is very positive.

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 – November 2018

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 leads to better real estate decisions!





Below is the summary for Greater Metro Atlanta through October 2018. Click here for a more comprehensive market report slide deck.

• The entry-level market has strong demand and very low inventory. The luxury market remains a buyer’s market in most areas with buyers negotiating better pricing and terms.
• Mortgage Rates are rising slowly which is impacting affordability in the entry-level market. Metro Atlanta remains very affordable relative to other metro areas.
• October Pending Contracts were up 8.3% from September and up 2% from the prior year. Closings were down 6.5% from last month and down 3.6% from the prior year.
• Year-to-Date Pended Sales units were up 3.2% versus the prior year. Year-to-Date Closings were up 2.2% versus the prior year.
• The Average Sales Price for October was $307,000 – up 1.7% from last month and up 7% from last year. 2018 is on track to be the highest annual ASP on record.
• Inventory for October was down .3% (statistically flat) from last month and up 4.8% compared to last year.
• New Listings in October were up 11% versus last year and up 3.8% year-to-date.
• Overall Months of Supply for October was 3.6 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 13.2 months and properties over $2 million averaging over 32.1 months to close.
• The Average List-to-Sale Price Ratio was 96% for all price points. Many properties in high-demand areas are selling above list.
• The Case-Shiller Index for Atlanta (10/30/18) was up .30% compared to the previous month. Metro Atlanta Home Values are up 76% from the bottom of March 2012.
• Visit Prosperity Home Mortgage to meet one of our Mortgage Consultants. Ask about the Prosperity Buyer Advantage and our 7-Day Close program.

The chart below shows a summary of Metro Atlanta Home Values according to the Case-Shiller Index for Atlanta. This is an interesting perspective for general home values across Metro Atlanta. As you can see, home values have essentially recovered from the real estate recession. Local areas and prices point will be different. Yes, real estate is truly local.

Our website provides Instant Home Values Estimates for your property or any properties in the country. We also show the number of real-time buyers looking for a home like yours! Visit our website and check out your report. Remember, these home value estimates are automated tools. We can provide you the most accurate value estimate since we have access to proprietary information sources and local details. Contact us to learn more!







As we all get ready to celebrate our modern versions of Thanksgiving, we thought you might find it interesting to recall the history of this event.

The History of Thanksgiving: In 1620, a small ship called the Mayflower left England seeking a new home where they could freely practice their faith, pursue prosperity and own land. After 66 days of treacherous seas, they anchored near Cape Cod which was far north of their intended destination at the mouth of the Hudson River. They called their new home Plymouth and began the process of building a town. During the harsh winter, most of the colonists remained on the ship where they suffered from many afflictions. Only half of the original passengers lived to see the next spring. In March, they moved ashore and met a Native American named Squanto. The Pilgrims had been weakened by malnutrition and illness. Squanto taught them how to cultivate corn, extract sap from maple trees, catch fish in the rivers and avoid poisonous plants. In November 1621, the Pilgrims first corn harvest proved successful. Governor William Bradford organized a celebratory feast. The colonists and Indians celebrated for three days in what is now recognized as the "First Thanksgiving."

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 – October 2018

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 leads to better real estate decisions!





Below is the summary for Greater Metro Atlanta through September 2018. Click here for a more comprehensive market report slide deck.

• The entry-level market has strong demand and very low inventory. The luxury market remains a buyer’s market in most areas with buyers negotiating better pricing and terms.
• Mortgage Rates are rising slowly which is impacting affordability in the entry-level market. Metro Atlanta remains very affordable relative to other metro areas.
• September Pending Contracts were down 13.6% from August and up 7.3% from the prior year. September Closings were down 20.4% from last month and down 8.7% from the prior year.
• Year-to-Date Pended Sales units were up 1.4% versus the prior year. Year-to-Date Closings were up 1.2% versus the prior year.
• The Average Sales Price for September was $304,000 – down 2% from last month and up 7.4% from last year. 2018 is on track to be the highest annual ASP on record.
• Inventory for September was up 1.7% from last month and flat compared to last year.
• New Listings in September were up 11% versus last year and up 3% year-to-date.
• Overall Months of Supply for August was 3.6 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 17 months and properties over $2 million averaging over 27 months to close.
• The Average List-to-Sale Price Ratio was 96% for all price points. Many properties in high-demand areas are selling above list.
• The Case-Shiller Index for Atlanta (9/25/18) was up .58% compared to the previous month. Metro Atlanta Home Values are up 76% from the bottom of March 2012.

Visit Prosperity Home Mortgage to meet one of our Mortgage Consultants. Ask about the Prosperity Buyer Advantage and our 7-Day Close program.



Our next MEGA Open House Event is Sunday, October 21st from 2pm – 5pm. There will be hundreds of beautiful open houses available and one lucky sweepstakes winner will get a cool Amazon Alexa Prize Package.

MEGA Open House Events are a very effective component of our Advanced Property Marketing for our seller clients. We run extensive open house ads on Zillow plus Facebook, Instagram, Google and WAZE to generate interest from potential buyers.

If you know anyone interested in listing their home, contact us so we can get them scheduled for a MEGA Open House Event!





Our thoughts and prayers are with those impacted by Hurricane Michael. Fortunately, Metro Atlanta and North Georgia were less affected. Weather forecasters are calling for a colder winter and more potential snow events this season. Now is the time to get ready just in case. Remember, Snow Jam 2014? Thousands of people got stuck in the snowstorm and were not prepared. We want you to be ready! Click the links below for helpful checklists.

Click here for a Hurricane Preparedness Checklist

Click here for a Cold Weather Checklist





We would like to wish you and your family a safe and Happy Halloween. Halloween falls on Wednesday 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.

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor – September 2018

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor – September 2018

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 leads to better real estate decisions!



Below is the summary for Greater Metro Atlanta through August 2018. Click here for a more comprehensive market report slide deck.

• The entry-level market has strong demand and very low inventory. Finding the right property is getting harder which is resulting in lower closings for this segment. The luxury market is a buyer’s market with buyers negotiating better pricing and terms.
• Mortgage Rates are rising slowly which will impact affordability. Metro Atlanta continues to be very affordable relative to other metro areas around the country.
• August Pending Contracts were up 3% from July and up 6.2% from the prior year. August Closings were down 11.9% from last month and down 7.1% from the prior year.
• Year-to-Date Pended Sales units were up 4.6% versus the prior year. Year-to-Date Closings were up 2.2% versus the prior year.
• The Average Sales Price for August was $313,000 – down 2.2% from last month and up 7.6% from last year. 2018 is on track to be the highest annual ASP on record. Inventory for August was down .6% from last month and down 3% from last year.
• Overall Months of Supply for August was 3.1 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 11.4 months and properties over $2 million averaging 27.1 months to close. The luxury market remains a buyer’s market in many areas.
• The Average List-to-Sale Price Ratio was 97% for all price points. Many properties in high-demand areas are selling above list.
• The latest Case-Shiller Index for Atlanta (8/28/18) was up .65% compared to the previous month. Metro Atlanta Home Values are up 76% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.
• Visit Prosperity Home Mortgage to meet one of our Mortgage Consultants. Ask about the Prosperity Buyer Advantage and our 7-Day Close program.

The latest forecast shows that Greater Metro Atlanta and North Georgia area may not get significant wind and rain from Hurricane Florence. There are other storms forming in the Atlantic as we move into the height of hurricane season. It is always good to be prepared.

Click here for a Hurricane Preparedness Checklist.

Weather forecasters are also calling for a colder winter and more potential snow events. Now is the time to get ready just in case. Remember, Snow Jam 2014? Thousands of people got stuck in the snowstorm and were not prepared. We want you to be ready!

Click here for a Cold Weather Checklist.



Our next MEGA Open House Event is Sunday, September 23rd from 2pm – 5pm. There will be hundreds of beautiful open houses available and one lucky sweepstakes winner will get a cool Amazon Alexa Prize Package. MEGA Open House Events are a very effective component of our Advanced Property Marketing for our seller clients. We run extensive open house ads on Zillow plus Facebook, Instagram, Google and WAZE to generate interest from potential buyers.

If you know anyone interested in listing their home, contact us so we can get them scheduled for a MEGA Open House Event!



Berkshire Hathaway HomeServices Georgia Properties is supercharging our new listings and open houses with an innovative advertising program on Google, Facebook, Instagram, and WAZE. If you know someone who is considering listing this fall, no other brokerage provides this level of exposure. For every new listing, we automatically create social and digital ads that are targeted to the geographic area around the listing. When a consumer clicks on the ad, it displays your custom listing website page. Then, we follow that consumer with more ads of the property to remind them to click back and contact the listing agent. The scale of this program is unprecedented in our market and has been very effective in exposing our listings.

If you or anyone you know is considering listing their home this spring, contact us to learn how we expose our listings to the largest audience!



Berkshire Hathaway HomeServices Georgia Properties is bringing real estate to Alexa and Google Home. Just enable the “Atlanta Real Estate” skill to search properties, check home values and get the latest real estate market update. Enable your Atlanta Real Estate skill today and check it out! You never know – Alexa may help you find the home of your dreams!

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 – August 2018

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – August 2018

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 leads to better real estate decisions!

 

Below is the summary for Greater Metro Atlanta through July 2018. Click here for a more comprehensive market report slide deck.

• The entry-level market has strong demand and very low inventory. Finding the right property is getting harder which is resulting in lower closings for this segment. The luxury market is a buyer’s market with buyers negotiating better pricing and terms.
• Mortgage Rates are rising slowly which will impact affordability. Metro Atlanta continues to be very affordable relative to other metro areas around the country.
• July Pending Contracts were down 1.5% from June and up 6% from the prior year. July Closings were down 8.9% from last month and up 1.8% from the prior year.
• Year-to-Date Pended Sales units were up 4.6% versus the prior year. Year-to-Date Closings were up 2.9% versus the prior year.
• The Average Sales Price for July was $321,000 – down 3.7% from last month and up 6.3% from last year. 2018 is on track to be the highest annual ASP on record.
• Inventory for July was up 4.1% from last month and down 4.8% from last year.
• Overall Months of Supply for July was 2.8 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 9 months and properties over $2 million averaging 35 months to close. The luxury market remains a buyer’s market in many areas.
• The Average List-to-Sale Price Ratio was 97% for all price points. Many properties in high-demand areas are selling above list.
• The latest Case-Shiller Index for Atlanta (7/31/18) was up 1% compared to the previous month. Metro Atlanta Home Values are up 76% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.
• Visit Prosperity Home Mortgage to meet one of our Mortgage Consultants. Ask about the Prosperity Buyer Advantage and our 7-Day Close program.

 

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.

 

Our next MEGA Open House Events are Sunday, August 19th plus Sunday, September 9th and September 23rd from 2pm – 5pm. There will be hundreds of beautiful open houses available and one lucky sweepstakes winner will get a cool Amazon Alexa Prize Package.

MEGA Open House Events are a very effective component of our Advanced Property Marketing for our seller clients. We run extensive open house ads on Zillow plus Facebook, Instagram, Google and WAZE to generate interest from potential buyers.

If you know anyone interested in listing their home, contact us so we can get them scheduled for a MEGA Open House Event!

 

Labor Day is Monday September 3, 2018. 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 22. 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!

 

Berkshire Hathaway HomeServices Georgia Properties is bringing real estate to Alexa and Google Home. Just enable the “Atlanta Real Estate” skill to search properties, check home values and get the latest real estate market update. Enable your Atlanta Real Estate skill today and check it out! You never know – Alexa may help you find the home of your dreams!

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 Real Estate Advisor – March 2017

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – March 2017

We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us to find out the specific details for your local area. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information helps our clients make better real estate decisions!

 

The Metro Atlanta real estate market is off to a mixed start in 2017. Pendings show strong momentum but closings are slightly down from last year. Inventory is lower - making it harder to find the right property. Below is the summary for Metro Atlanta through February 2017.

• Year-to-date pended sales through February were up 8.8% versus last year. Year-to-date closings were down 2% versus last year and down 9.8% from last February.
• The average sales price for February was $269,000 - up 1.9% from last month and up 5.9% from last year. The annual ASP for 2016 beat the record posted back in 2006.
• The listed inventory for February was down 1.8% from last month and down 5.4% from last February. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
• Overall months of supply for February was 4.4 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 18.3 months and properties over $2 million averaging 91 months to close.
• The latest Case-Shiller Index for Atlanta (2/28/17) was essentially flat (+.16%) compared to the previous month. Metro Atlanta home values are up 61% from the recent bottom of March 2012 and up 2.42% from the average index last year. Increased homes values are building positive equity and getting some sellers back into the market.
• Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. 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.

 

Our MEGA Open House Event is this Sunday, March 19th 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. Our next MEGA Open House Event will be Sunday, April 9th.

 

Did you know that China is the leading source of International buyers?Metro Atlanta is forecasted to be the next significant destination with new direct flights to China. The Chinese government blocks traditional real estate website so reaching these 1.39 billion potential buyers requires a different approach. We are pleased to announce a new strategic with Juwai.com, the leading real estate website for China. Our listings are professionally translated and receive the highest exposure. We are also working with Juwai to promote Metro Atlanta as a destination. No other company has this type of exposure to the largest and fastest growing segment of International buyers. Look for more exciting announcements soon as our industry-leading global exposure program continues to evolve.

 

March Madness is upon us. Here is a link to download your printable bracket. We will find out who wins in Phoenix on Monday night, April 3rd. Can you pick the perfect bracket? According to a study from DePaul University, the odds of picking a perfect bracket are one in 9.2 quintillion (1 in 9,223,372,036,854,775,808). The odds are worse than winning two Mega Millions jackpots in a row.

Did you know?

• Only once have all four #1 seeds made it to the final four (2008).
• No #16 seed has ever beaten a #1 seed in the first round.
• The phrase “March Madness” was first coined in 1982 by sportscaster Brent Musburger.
• In the 80 years of the tournament, only 35 schools have ever won the top prize.
• During March Madness, pizza orders increase by 19% and beer sales increase by 28%. Dessert orders increase 9% after favorite teams lose.
• Approximately 70 million brackets will be completed.
• The average ticket to tournament games will cost $477. Final Four tickets range from $588 to $9600.
• The NCAA will collect over 900 million in revenues. $9.2 billion will be wagered on legal gambling and $8.9 billion will be wagered on illegal gambling.

March Madness is big fun and big business. We hope your favorite team has a great run in the tournament. It will be fun to watch the buzzer beaters, Cinderella stories and epic matchups!

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 - August 2014

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor - August 2014

We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us to find out exactly what is happening in your local area. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information helps our clients make better real estate decisions!

 

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

 

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

 

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

 

• Listed inventory was up 1.4% from last month and up 23.7% compared to last year. Inventory is up 50% from the recent bottom of February 2013. But the limited availability of highly desirable properties in select markets is still driving multiple offers and very quick sales. Other areas have more normal conditions. Remember, real estate is local and markets are different.

 

• The overall “months of supply” is 4.7 months versus 4.3 last month. Six months is considered a normal market.
• But you can see that the numbers are very different depending on the price point and area. Contact us to learn more about your specific area.

 

• New Homes are making a comeback. SmartNumbers reports that new homes are up 16%. The problem is that many builders cannot build them fast enough! Labor shortages are one of the most significant inhibitors.
• At the peak of 2006, we were building over 60,000 new homes per year. Then the numbers dropped to 5,000 during the recession. Today, we are on pace to build around 18,000 new homes in 2014 and we expect to get to the 20,000 unit run rate by 2015.
• New home prices are rising with strong demand and limited inventory. Presales are once again becoming the majority of sales. In this environment, you want to make sure you are protected with strong representation to help set up the right expectations and agreements with the builder. Contact us to learn more about best practices for buying new homes.
• There are some wonderful new home communities coming online with the latest innovations in smart building that may be great options for buyers. Click here to view new home communities.

 

• The Case-Shiller Index reports that Metro Atlanta home values have increased 40% from the bottom of March 2012. But values remain down 14% from the peak of July 2007.
• As the chart shows, our home values are back on a more normal trend line after over-inflating and then over-correcting. These are common market cycles that work themselves back to a normal trend over time.
• The long-term trend for mortgage rates is higher. The Mortgage Bankers Association and Freddie Mac predict 30-year mortgage rates to be over 5% in late 2014 and 2015. We still have exceptional mortgage rates. The average mortgage rates in the last 50 years was 8%. Act now before rates move higher!

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

Luxury Market Share Report For Metro Atlanta

 

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

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

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

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