Lake Sidney Lanier Homes Blog: Case

Showing posts with label Case–Shiller index. Show all posts

Wednesday, March 15, 2017

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.

Wednesday, February 15, 2017

Berkshire Hathaway HomeServices Georgia Properties Atlanta Real Estate Advisor – February 2017

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – February 2017

The Metro Atlanta real estate market is off to a mixed start in 2017. Pendings show strong momentum. Closings are slightly up. Inventory has dropped making it harder to find the right property for some buyers. Here is the summary for Metro Atlanta through January 2017.

Pended sales for January 2017 were up 30% from last month and up 14.2% from last January. Closings were down 33.9% from last month and up 2.2% from last January.
The average sales price for January was $266,000 - down 5% from last month and up 4.3% from last year. The annual ASP for 2016 beat the record posted back in 2006.
The listed inventory for January was down 6.4% from last month and down 5.4% from last January. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
Overall months of supply for January was 4.7 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 19.6 months and properties over $2 million averaging 82 months to close.
The latest Case-Shiller Index for Atlanta (1/30/17) was essentially flat (+.03%) compared to the previous month. Metro Atlanta home values are up 61% from the recent bottom of March 2012 and up 8.06% 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 first MEGA Open House Event for 2017 is this Sunday, February 19th from2pm – 5pm. There will be hundreds of beautiful open houses open across Metro Atlanta. This might be the right time to make your move!
If you know someone who is considering listing their home, please let them know about these events. We are having great success in attracting buyers for our MEGA Open Houses! The MEGA Open House Events are very different from the standard open houses from other companies. We leverage major advertising campaigns to drive more awareness for these events. Some examples include:

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

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

If you know anyone interested in listing their home, we would be honored to help. Our next MEGA Open House Event will be Sunday, March 19th.

Comscore reports that the Zillow group websites command a 65% market share for online real estate searches in Metro Atlanta. Our company has a strategic partnership with the Zillow Group and recently announced an exclusive new Zillow Video Program that has dramatically increased views and leads for our listings. Zillow ranks listings with Zillow Videos first in their search results which provides 2X the listing views. Buyers also save listings as favorites at twice the rate of other listings. Contact us to learn more about this exclusive Zillow Video program.

We also have a strategic partnership with Realtor.com - the second leading real estate website. We recently launched new Advantage Pro Listings which provide a range of advantages for our clients including larger photos and special branding for each listing. We have the option to add up to 100 photos plus other listings enhancements to make the property stand out for buyers. All leads for our listings go to us - the listing agents. Agents or brokerages who do not pay for Advantage Pro Listings do not receive the leads for their listings. These leads are sold to other agents who purchase them. That means those buyers will be directed to the receiving agent’s listings and not yours! Zillow and Realtor.com generate 80% of the online real estate searches for Metro Atlanta. NAR reports that 95% of buyers search online. The online marketing for your listing is critical to your success in exposing the property and finding the right buyer.

Tuesday, January 17, 2017

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

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

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

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

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

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

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

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

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

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

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

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

Monday, December 26, 2016

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor - December 2016

Berkshire Hathaway HomeServices Georgia Properties
Real Estate Advisor – December 2016

We wish you 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. 2016 has been a very good year for our clients and the outlook for 2017 is very positive.

Zillow reports that Christmas Day, New Year’s Day and the first few weeks of January are some of the busiest online shopping days for real estate. For our seller clients, we have special programs underway so you can take advantage of these opportunities! First, we are running extensive ads on Zillow searches to attract more buyers. No other brokerage provides this level of exposure on the largest real estate website with over 65% online market share.

Our company is strategically partnering with the Zillow Group to introduce a new Zillow Video Program that will dramatically increase views for our listings. Zillow ranks listings with Zillow Videos first in their search results which provides 2X the listing views versus other listings. Buyers also save Zillow Video listings as favorites at twice the rate of other listings.

The new program will include Zillow WalkThrough videos plus options for Professional Videos on luxury listings. We are organizing strategic vendor partners to help supercharge our Zillow Video inventory. The program includes training, certifications and more to ensure the highest levels of quality. We have a dedicated Zillow Team working with us to help the program move faster. Our goal is to have Zillow Videos on the majority of our residential listings by the end of February 2017. As we move into the early spring market, our seller clients will benefit from the increased exposure to more buyers.

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

The Metro Atlanta real estate market remains active during the holiday season. Here is the summary for Metro Atlanta real estate through November 2016.

Closings for November 2016 were down 9% from last month and up 21.9% from last November. Year-to-date 2016 closings were up 10.6% compared to YTD 2015.
The average sales price for October was $279,000 which is up 3.7% from last month and up 5.2% from last year. The Average Sales Price is on track to beat the record levels posted back in 2006.
The listed inventory for November was down 5.4% from last month and down 3.3% from last year. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
Overall months of supply for November was 4 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 14 months and properties over $2 million averaging 33 months to close.
The latest Case-Shiller Index (11/29/16) was up .16% from the previous month. Metro Atlanta home values are up 61% from the recent bottom of March 2012 and up 7.6% from the average index last year. Increased home values are building positive equity and getting more sellers back into the market.
Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. The recent Fed hike has driven mortgage rates higher and many buyers are taking action before rates rise further. Our Close On Time Guarantee and Free Second Opinion programs have been very beneficial to our clients!

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

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 price points will be different. Homes between $200,000 and $500,000 have been in high demand and may show higher gains while the luxury market may show smaller gains. Yes, real estate is truly local.

Our website provides Instant Home Values Estimates for any property in the country. You can also model changes to see the impact on the estimated value. Check out your latest estimate!

We can provide you the most accurate value estimate since we have access to proprietary information sources and local details. Contact us for more information.

Year Property Bought	Average Gain/ Loss	Year Property Bought	Average Gain/ Loss
2000	28.82%	2008	8.43%
2001	21.99%	2009	22.67%
2002	17.46%	2010	25.73%
2003	13.76%	2011	35.20%
2004	9.89%	2012	46.59%
2005	4.62%	2013	23.89%
2006	-0.16%	2014	13.35%
2007	-.80%	2015	7.61%

Merry Christmas, Happy Hanukkah and Happy Holidays!

Thursday, November 24, 2016

Berkshire Hathaway HomeServices Georgia Properties Metro Atlanta Real Estate Update – November 2016

The Metro Atlanta real estate market remain active going into the holiday season. Here is the summary for Metro Atlanta real estate through October 2016. Click here for more detailed slides.

Closings for October 2016 were down 14.4% from last month and up 2% from last October. Year-to-date 2016 closings were up 9.2% compared to YTD 2015.
The average sales price for October was $270,000 - down 1% from last month and up 5.4% from last year. The ASP is on track to beat the record levels posted back in 2006.
The listed inventory for October was up 1.9% from last month and down 3.4% from last year. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
Overall months of supply for October was 4.1 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 17 months and properties over $2 million jumping to an average of 55 months to close.
The latest Case-Shiller Index (10/25/16) was up .23% from the previous month. Metro Atlanta home values are up 60% from the recent bottom of March 2012 and up 6% 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. Recent events have driven mortgage rates back down to historically low levels. This creates a great opportunity to buy before rates move back up! Ask about our new On Time Closing Guarantee program!
New Homes are moving fast – but many builders cannot build them fast enough for the demand. Visit www.newhomesdivisionga.com to view new home communities.
Commercial real estate is also making a comeback in Metro Atlanta. Our Commercial Real Estate Division specializes in these areas and would be happy to help you.

Sunday, October 16, 2016

Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor For Metro Atlanta – October 2016! Let's Check The Highlights!

Highlights from the Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor For Metro Atlanta – October 2016.

The Metro Atlanta real estate market is still hot as we move into the fall. Here is the summary for Metro Atlanta real estate through September 2016. Click here for more detailed slides.

Closings for September 2016 were down 18.3% from last month and down .3% from last August. Year-to-date 2016 closings were up 8.7% compared to YTD 2015.
The average sales price for September was $274,000 - down 4% from last month and up 4.9% from last year. The ASP is on track to beat the record levels posted back in 2006.
The listed inventory for September was up .4% from last month and down 4.1% from last year. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
Overall months of supply for September was 3.9 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 18.1 months and properties over $2 million averaging 33.2 months to close.
The latest Case-Shiller Index (9/27/16) was up .39% from the previous month. Metro Atlanta home values are up 60% from the recent bottom of March 2012 and up 7.21% 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 http://Georgia.HomeServicesLending.com for the latest mortgage rates. Recent events have driven mortgage rates back down to historically low levels. This creates a great opportunity to buy before rates move back up! Ask about our new On Time Closing Guarantee program!
New Homes are moving fast – but many builders cannot build them fast enough for the demand. Visit http://www.NewHomesServicesGA.com to view new home communities.
Commercial real estate is also making a comeback in Metro Atlanta. Our Commercial Real Estate Division specializes in these areas and would be happy to help you.

Saturday, October 26, 2013

Prudential Georgia Realty Real Estate Advisor November 2013! Check The Real Estate Market Trends For Metro Atlanta!

Prudential Georgia Realty Real Estate Advisor

November 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 27.7% from the lowest point in February 2013. But inventory remains down .4% compared to 2012 levels and down 36.7% 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” was 4.7 months based upon closed sales (6 months is considered normal). This is up 30% from last month.

Closings in September were down 20%. All price points showed a drop with the $1 mil+ price range showing the greatest drop at over 40%. Year-to-date closings were down 1% compared to the same period from 2012.

Closings under $100,000 are now 21% 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 in September we only saw 139 foreclosures and 189 bank-owned sales. Resales and New Homes 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.
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.

Introducing…
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 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.

Fall Backwards – Time To Change Your Clocks

Yes, it is that time of year again. Daylight Saving Time ends so we turn our clocks back one hour at 2am Sunday morning, November 3rd. This change puts us back on Standard Time. The good news is that everyone can get an extra hour of sleep!

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. Benjamin Franklin first suggested Daylight Saving Time in 1784. The United States, Canada and some other countries extended DST in 2007. The new start date is the second Sunday in March (previously the first Sunday 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.

Happy Halloween! 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.

Thursday, September 26, 2013

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 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.

Wednesday, July 31, 2013

Metro Atlanta Case-Shiller Index For July 2013! See The Latest Real Estate Trends!

This real estate update is courtesy of our broker, Prudential Georgia Realty, and its blog at atlscoop.com!

The latest Case-Shiller Index was published on Tuesday, July 30th 2013. As always, the index reports on data 60 days in arrears. Therefore, the index reports Metro Atlanta home values for May 2013. So what does the latest index show and what does that mean for home values in Metro Atlanta? Home values continue to improve in our market. However, 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 Prudential Georgia Realty 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 increased by 2.4% compared to last month and increased 12.2% over the past year. The April index for Metro Atlanta shows a 3.43% (non-seasonally adjusted) increase in home values from March 2013 and a 20.1% increase over the last year. While these numbers are positive, we must bear in mind that home prices are still down 22.65% from the peak of July 2007. The May index for Atlanta is 105.56. Phoenix, San Francisco, Las Vegas and Atlanta were the four cities with the highest year-over-year price increases. New York, Cleveland, Washington D.C., Charlotte, Dallas and Boston showed the smallest year-over-year improvements.

The Metro Atlanta real estate market continues to show signs of improvement for sellers. Listing inventory is up 18% from the bottom of February 2013. But this is still down 19% from 2012 and down 48% from 2011. That represents around 3.8 months supply of inventory based upon the latest closed sales trend. Six months supply is considered normal. We have seen an extended period of low inventory since last year. Buyer activity remains strong led by baby boomers, first time buyers and investors. At the same time, the pace of pre-foreclosures (notices of default) and foreclosures has slowed. RealValuator reports that short sales and foreclosures were over 60% of the transactions sold in 2010 but are now down to under 30% in 2013. Market sales (resales, new homes) are outpacing bank-owned sales. New Homes are starting to make a comeback with Smart Numbers reporting a 55% increase in closed sales from the last quarter. In the next few years, new homes will become a more significant part of the inventory and closed sales. Your local PGR agent can show you the specific conditions in your market so you can make the best real estate decisions.

We have now seen positive results from the Case-Shiller Index for the last seven months and 13 of the last 14 months. Only October of 2012 was negative. What a change from a few years ago! As we see more summer results posted, we expect to see more positive results. As we move into the fall, we mat get mixed results. But the low inventory environment could break the normal pattern and drive prices higher. 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 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. Some of this is due to heavy investor activity under $200,000. As you get to the luxury market, there is more supply available based on the rate of closed sales. Contact your local PGR 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 2.26%
Homes Bought in 2001 – Loss of 3.17%
Homes Bought in 2002 – Loss of 6.76%
Homes Bought in 2003 – Loss of 9.70%
Homes Bought in 2004 – Loss of 12.77%
Homes Bought in 2005 – Loss of 16.95%
Homes Bought in 2006 – Loss of 20.74%
Homes Bought in 2007 – Loss of 21.26%
Homes Bought in 2008 – Loss of 13.93%
Homes Bought in 2009 – Loss of 2.62%
Homes Bought in 2010 – Loss of 0.20%
Homes Bought in 2011 – Gain of 7.32%
Homes Bought in 2012 – Gain of 16.36%

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: Demand is strong as buyers take advantage while prices remain below replacement costs and mortgage financing is historically low. Large investors are creating strong demand for rentable single family homes under $200,000. We will be watching that for a potential bubble. We continue to see significant pent-up demand for new household formation from first time buyers and a very active baby boomer market. We expect to see the return of the 1st and 2nd move-up buyer over the next few years. That will tell us that we have returned to a more normal demand cycle.

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 the 5% range in 2014. In 3-5 years, we expect to see rates in the 6-8% range again.

Supply/ Inventory Levels: Most of our markets are showing inventory levels down significantly from the prior year levels. New homes will continue to grow but not fast enough to have a significant impact on inventory levels in the short-term. As values begin to rise, we expect “sideline sellers” to get back into the market. Overall, the “for sale” inventory will remain low compared to normal levels.

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 30% in 2013. We are now seeing resales and new homes outpace the sales of 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 just under 50% 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!

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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