Sunday, September 02, 2012
Photos From Our Lake Lanier Cruise Yesterday Near Gainesville!
We are enjoying the Labor Day weekend here on Lake Lanier. The weather has been warm and humid, but it's fine for a little cruising on the lake! Here are a few pics from our boat ride yesterday in Gainesville!
Thursday, August 30, 2012
The Latest Case-Shiller Index Report For Metro Atlanta! Read The Latest To Learn How It Describes Local Real Estate Values!
The latest Case-Shiller Index was published on August 28, 2012. As always, the index reports on data 60 days in arrears. Therefore, the index reports Metro Atlanta home values for May 2012. So what does the latest index show and what does that mean for home values in metro Atlanta? Things are improving 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 and other factors, which are generally better indicators of home values. Second, this index reflects the average home values for all of Metro Atlanta. Remember, real estate is local and every market is different. There are some local communities that have held their values reasonably well and others that may continue to decline. In fact, some homes entering the market are getting multiple offers and closed prices above list price. We can help you understand the specific metrics in your local market. However, the Case-Shiller Index is a good general indication on what is happening in our market.
Now for the news…. Nationally average home prices have increased by 2.3% in the June Index when compared to the previous month of May for the 20-City Composite report. The June index for Atlanta shows a 4.43% (non-seasonally adjusted) increase in home values from May 2012, which is very good news. That represents a 10.74% increase in home prices over the past three months. While these numbers are positive, we must bear in mind that home prices had dropped 23.17% over the prior 8-month period. From the peak of July 2007, homes values are down 32.78%. The current Case-Shiller index reflects values similar to home values in the fall of 1998. TheJune index for Atlanta is 91.74, which is up 4.43% from May 2012 and down 12.06% from June of 2011. Atlanta continues to show the largest drop in 2012 home values for any of the 20 markets tracked by Case-Shiller however current numbers do show improvement.
The metro Atlanta real estate market continues to show signs of improvement for sellers. Listing inventory is down 36.8% from July of 2011 and down 48.9% from July 2010. We have seen an extended period of low inventory since last year. Buyer activity is strong. In 2012, Trendgraphix reports closed sales up 13% compared to the same period in 2011. At the same time, the pace of pre-foreclosures (notices of default) and foreclosures has slowed. For the past four months, RealValuator reports that market sales (resales, new homes) have outpaced bank-owned sales. Your local PGR agent can show you the specific conditions in your market so you can make the best real estate decisions.
Click on the link below to open the Excel spreadsheet that shows the details of the latest index:
Case-Shiller-Index-Atlanta-June-2012-Index-Reported-August-2012
We have now seen three months in a row of positive results from the Case-Shiller Index. We expect to see a similar pattern for the reports that reflect July and Augist. Going into the fall and winter months, we may see results that are flat or slightly negative. We are moving back to a more normal seasonal pattern where the spring and summer months are the heaviest selling months. If you average the Case-Shiller Index for the past 12 months, we are down 33.72% from the peak. We believe it is more effective to use the “average of the past 12 months” or “trailing 12 months” as an indicator instead of reacting to a specific month. View the graph of the latest Case-Shiller results from 2010, 2011 and 2012:
If you look back further at home values (see chart below), you can see that we had a bubble in homes values but they are still below the normal trend line.
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 – Loss of 11.13%
Homes Bought in 2001 – Loss of 15.85%
Homes Bought in 2002 – Loss of 18.97%
Homes Bought in 2003 – Loss of 21.52%
Homes Bought in 2004 – Loss of 24.19%
Homes Bought in 2005 – Loss of 27.83%
Homes Bought in 2006 – Loss of 31.12%
Homes Bought in 2007 – Loss of 31.56%
Homes Bought in 2008 – Loss of 25.20%
Homes Bought in 2009 – Loss of 15.37%
Homes Bought in 2010 – Loss of 13.26%
Homes Bought in 2011 – Loss of 6.73%
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: We finished 2011 with over 70,000 homes purchased – a 20% increase from 2010. The activity is very strong so far in 2012 with closings up 13% from 2011.
Mortgage Rates/ Credit Availability: Average mortgage rates in the past 50 years were 8%. We expect to see historically low mortgage rates this summer and expect to see rates start rising during the 2nd half of 2012 and into 2013. Freddie Mac predicts mortgage rates of 5% next year. In 3-5 years, we expect to see rates in the 6-8% range.
Supply/ Inventory Levels: Most of our markets are showing inventory levels down over 30% from the prior year levels. We expect inventory to remain at very low levels as we begin to move toward a seller’s market.
Competition from Short Sales/ Foreclosures: In 2011, short sales and foreclosures were over 60% of the transactions sold. In 2012, this activity is down 50% from last year. For the last four months, we are now seeing resales and new homes outpace the sales of bank-owned properties. We expect to see more shadow inventory coming in late 2012 and early 2013. However, most of this will be concentrated in specific areas and lower price points.
You should be carefully watching the trends for short sales and foreclosures. Yes, we will continue to see some ups and downs along the way, but home values will rise over time. In a few years, short sales and foreclosures will return to normal levels. The new homes inventory will remain low. That means we will see an undersupply of homes for sale and values will begin to rise. In 5 or 10 years, many will look back and regret not buying their dream home when they had the chance! Check back for our next posts with the latest facts and insight that can make you money!
Now for the news…. Nationally average home prices have increased by 2.3% in the June Index when compared to the previous month of May for the 20-City Composite report. The June index for Atlanta shows a 4.43% (non-seasonally adjusted) increase in home values from May 2012, which is very good news. That represents a 10.74% increase in home prices over the past three months. While these numbers are positive, we must bear in mind that home prices had dropped 23.17% over the prior 8-month period. From the peak of July 2007, homes values are down 32.78%. The current Case-Shiller index reflects values similar to home values in the fall of 1998. TheJune index for Atlanta is 91.74, which is up 4.43% from May 2012 and down 12.06% from June of 2011. Atlanta continues to show the largest drop in 2012 home values for any of the 20 markets tracked by Case-Shiller however current numbers do show improvement.
The metro Atlanta real estate market continues to show signs of improvement for sellers. Listing inventory is down 36.8% from July of 2011 and down 48.9% from July 2010. We have seen an extended period of low inventory since last year. Buyer activity is strong. In 2012, Trendgraphix reports closed sales up 13% compared to the same period in 2011. At the same time, the pace of pre-foreclosures (notices of default) and foreclosures has slowed. For the past four months, RealValuator reports that market sales (resales, new homes) have outpaced bank-owned sales. Your local PGR agent can show you the specific conditions in your market so you can make the best real estate decisions.
Click on the link below to open the Excel spreadsheet that shows the details of the latest index:
Case-Shiller-Index-Atlanta-June-2012-Index-Reported-August-2012
We have now seen three months in a row of positive results from the Case-Shiller Index. We expect to see a similar pattern for the reports that reflect July and Augist. Going into the fall and winter months, we may see results that are flat or slightly negative. We are moving back to a more normal seasonal pattern where the spring and summer months are the heaviest selling months. If you average the Case-Shiller Index for the past 12 months, we are down 33.72% from the peak. We believe it is more effective to use the “average of the past 12 months” or “trailing 12 months” as an indicator instead of reacting to a specific month. View the graph of the latest Case-Shiller results from 2010, 2011 and 2012:
If you look back further at home values (see chart below), you can see that we had a bubble in homes values but they are still below the normal trend line.
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 – Loss of 11.13%
Homes Bought in 2001 – Loss of 15.85%
Homes Bought in 2002 – Loss of 18.97%
Homes Bought in 2003 – Loss of 21.52%
Homes Bought in 2004 – Loss of 24.19%
Homes Bought in 2005 – Loss of 27.83%
Homes Bought in 2006 – Loss of 31.12%
Homes Bought in 2007 – Loss of 31.56%
Homes Bought in 2008 – Loss of 25.20%
Homes Bought in 2009 – Loss of 15.37%
Homes Bought in 2010 – Loss of 13.26%
Homes Bought in 2011 – Loss of 6.73%
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: We finished 2011 with over 70,000 homes purchased – a 20% increase from 2010. The activity is very strong so far in 2012 with closings up 13% from 2011.
Mortgage Rates/ Credit Availability: Average mortgage rates in the past 50 years were 8%. We expect to see historically low mortgage rates this summer and expect to see rates start rising during the 2nd half of 2012 and into 2013. Freddie Mac predicts mortgage rates of 5% next year. In 3-5 years, we expect to see rates in the 6-8% range.
Supply/ Inventory Levels: Most of our markets are showing inventory levels down over 30% from the prior year levels. We expect inventory to remain at very low levels as we begin to move toward a seller’s market.
Competition from Short Sales/ Foreclosures: In 2011, short sales and foreclosures were over 60% of the transactions sold. In 2012, this activity is down 50% from last year. For the last four months, we are now seeing resales and new homes outpace the sales of bank-owned properties. We expect to see more shadow inventory coming in late 2012 and early 2013. However, most of this will be concentrated in specific areas and lower price points.
You should be carefully watching the trends for short sales and foreclosures. Yes, we will continue to see some ups and downs along the way, but home values will rise over time. In a few years, short sales and foreclosures will return to normal levels. The new homes inventory will remain low. That means we will see an undersupply of homes for sale and values will begin to rise. In 5 or 10 years, many will look back and regret not buying their dream home when they had the chance! Check back for our next posts with the latest facts and insight that can make you money!
Dramatically Reduced For Quick Sale! 7910 Brands Hatch Boulevard In Cumming, Georgia!
We are thrilled to announce a major price reduction on our property listed for sale at 7910 Brands Hatch Blvd. in Cumming, Ga! This home was previously priced at $250,000 and is now reduced to $234,000! This represents a tremendous opportunity. This home is on a large cul-de-sac lot in Cumming, and the interior of the home is clean as a whistle and move-in ready. Please see our full listing link:
Reduced! 7910 Brands Hatch Blvd. Cumming, Georgia 30040
Reduced! 7910 Brands Hatch Blvd. Cumming, Georgia 30040
Wednesday, August 29, 2012
New Lake Lanier Homes For Sale, Analyzing Home Buyer Fears & A Short Video On Designing To Sell!
Today in Lake Lanier Real Estate, our Lake Lanier home searches uncovered three new properties which recently hit the Lake Lanier real estate market, and may be right for many buyers looking for waterfront homes on good water, with large floor plans. We thought that we would provide the listing reports on each of these homes, in order to alert Lake Lanier buyers and encourage them to look closely at these homes. Here is the latest list of a few hot Lake Lanier waterfront homes for sale.
Also, today in Lake Lanier real estate, we found a few additional topics that may be of interest to Lake Lanier buyers and sellers. The following link is an interesting slide show of 5 Real Estate Fears That Keep You From Buying. Next up, take a look at this 2-Minute Home Seller Video: Designing To Sell. Real Estate expert Brandi Vanderbeek reveals the best design elements to use when selling a home.
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Also, today in Lake Lanier real estate, we found a few additional topics that may be of interest to Lake Lanier buyers and sellers. The following link is an interesting slide show of 5 Real Estate Fears That Keep You From Buying. Next up, take a look at this 2-Minute Home Seller Video: Designing To Sell. Real Estate expert Brandi Vanderbeek reveals the best design elements to use when selling a home.
Jack Waldrip Real Estate Merges With Prudential Georgia Realty!
FOR IMMEDIATE RELEASE
Jack Waldrip Real Estate Merges With Prudential Georgia Realty.
Combined Entity Creates Powerhouse In The Northeast Georgia Real Estate Market.
Gainesville, GA (August 29, 2012) – In a move that could drastically alter the playing field in the Gainesville, Hall County and Northeast Georgia real estate market, Jack Waldrip Real Estate and Prudential Georgia Realty have announced the merger of the two real estate firms.
The combined company will operate as Prudential Georgia Realty and will operate out of the Jack Waldrip Real Estate location at 200 West Academy Street in Gainesville. Kerstin Crawford and Kim Crumley will lead the Gainesville office. Jack Waldrip will work directly with the new consolidated firm and continue to operate the Jack Waldrip Investment, Development and Management companies.
“The merger brings together two of Gainesville’s most respected firms. Our companies share a similar philosophy which makes this an ideal fit,” said Forsman, President & CEO of Prudential Georgia Realty. Jack Waldrip agreed and added, “This company is now a real estate powerhouse. Our agents will now be able to deliver many advantages to their clients. This merger is a great fit for our team and the combined entity will establish a higher level of real estate services for Gainesville, Hall County and Northeast Georgia."
With a 40-year history, Jack Waldrip, has been a leader in local real estate and development. Waldrip developed his first subdivision in the early 1970s and has since developed numerous residential communities, retail, office and industrial properties.
Prudential Georgia Realty also has a long heritage in the local real estate community with 49 years of serving clients across Metro Atlanta, North Georgia and the Southern Crescent. The company was ranked as the #1 residential real estate company by the Atlanta Business Chronicle for 2010 and 2011. Trendgraphix and RealValuator rank Prudential Georgia Realty #1 in transactions, listing sales and buyers for 2010, 2011 and year-to-date 2012. With the merger, Prudential Georgia Realty will have 22 offices and over 1000 Realtors®.
“The real estate market has changed dramatically in recent years. Our company has the size and scale to bring new innovations faster and offer more support services. This gives our agents and their clients a competitive advantage. In the upcoming weeks, we will be introducing a host of new state-of-the-art tools into the local marketplace,” said Forsman. “We intend to have a major presence in the Northeast Georgia market and will be looking to add more agents who want to build a sustainable business by delivering more value to their clients."
About Prudential Georgia RealtyPrudential Georgia Realty is an independently owned and operated broker member of Brookfield Residential Property Services network – the 3rd largest franchise network in the world. Brookfield Relocation Services is the #2 global providers of corporate relocation services with over 85,000 annual relocations in 125 countries. The Atlanta Business Chronicle ranked Prudential Georgia Realty as the #1 residential real estate company for 2010 and 2011. Prudential Georgia Realty has 22 locations and 1,000 Realtors®, and has been serving clients in Metro Atlanta for 49 years. Search all the available properties or find one of our local experts at www.LakeSidneyLanierHomes.com. Our powerful search tools allow consumers to search all types of properties including resales, new homes, pre-foreclosures, short sales and bank-owned properties. Our advanced searches allow consumers to search by subdivision, school district, specific attributes such as lake or golf communities, property features such as “master on the main” and much more. Our PGR mobile solutions allow consumers to search all 6 local MLS services from any device, anytime and anywhere. Prudential Georgia Realty is a full-service brokerage and offers residential real estate services, new homes sales & marketing, property management & rental services, corporate relocation services and commercial real estate services. ©2012 BRER Affiliates Inc. An independently owned and operated broker member of BRER Affiliates, Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Prudential Georgia Realty is the leader in Atlanta Real Estate.
Tuesday, August 28, 2012
Preparing Your Lake Lanier Home To Sell! How To Increase Your Home's Sales Appeal!
One of the most critical aspects of listing and selling your Lake Lanier area home involves preparing your home to sell, and actually learning how to increase your home's sales appeal. As an agent with Prudential Georgia Realty, I am proud to announce our alliance with David Knox, and the access to his fantastic online training videos!
David Knox has been in the real estate industry since 1972 in the areas of sales, management, relocation and training. He produces videos for the real estate industry and presents seminars on real estate sales internationally. David was the training director for a national real estate firm and a Senior Certified Residential Specialist (CRS) for the National Association of Realtors®. He is known for his expertise in pricing and negotiating. In this consumer series, David demonstrates the key principles of appealing to buyer emotion and provides an organized plan to enhance the value of your home!
The following link will take you to an informative video on preparing your home to sell. You will learn the five steps to improving the marketability of your home:
Please click here to sign up for a free consultation and market evaluation of your home!
- Major Repairs
- Maintenance
- Clear Out
- Clean Up
- Five Sense Appeal
Please click here to sign up for a free consultation and market evaluation of your home!
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| From Lake Lanier Slide Show |
Monday, August 27, 2012
Lake Lanier Photos From Saturday's Boat Ride!
One of the best things about living and working on Lake Lanier is our ability to have fairly quick access to the lake either by boat or by car. As a result of this, and the luxury of mobile smart phones, we are always eager to take advantage of quick photography that pinpoints our location. We snapped the following photos on Saturday. Most of these pics were taken along the Chestatee River, as it meanders north through Gainesville, Dawsonville and eventually Murrayville. While the weather and temperature were fantastic on Saturday, it will actually get even better as we move into September and October here on Lake Lanier! Please enjoy the photos and share some of yours as well!
Saturday, August 25, 2012
Lake Lanier Photos From Today's Boat Ride Near Dawsonville!
It's sure starting to feel like there is a touch of Autumn in the air here on Lake Lanier. Temps today were in the low to mid 80's and the lake was incredible! With schools back in session Lake Lanier was far less crowded today. As a matter of fact, on most of our boat ride today, it seemed more like a week day than a Saturday! We started out in Gainesville at about 2:30 P.M. and headed north on the Chestatee River all of the way to Murrayville. Simply gorgeous! Here are a few photos from our trip! With these temps and a quiet lake, we'll be back out tomorrow for some more incredible Lake Lanier boating. Now is one of the best times to enjoy the lake!
Thursday, August 23, 2012
A Look At Lake Lanier Homes Under Contract Right Now!
Today in Lake Lanier Real Estate, we're taking a look at homes that are presently under contract here on Lake Lanier. We like to view the results of this search now and again, because it often gives us an idea of the strength and breadth of the Lake Lanier market going forward. On this occassion, we see a number of homes that are listed over $1 million. This is a great sign for the high end! We also see about 28 homes presently under contract, which bodes well for continued closing strength for the next few months. For the the complete list, view and details of these homes, simply click on the following link. Below the link, we've posted the 10 most expensive homes that we found that were presently under contract.
Homes Presently Under Contract On Lake Lanier
Homes Presently Under Contract On Lake Lanier
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Wednesday, August 22, 2012
More News On Our Lake Lanier Area New Movers Smart Magazine And Real Estate Market Videos!
Yesterday, we announced with great excitement, the introduction of our New Movers Smart Magazine. This comprehensive resource is an amazing 800 plus page website with area real estate related information beyond reproach. One of the nicest features of this resource is the inclusion of local area real estate market videos. With the click of a drop down menu, and the selection of a city or area, you can watch a real estate market video with statistics and details on that particular location. This is a phenomenal tool to keep our clients and website visitors up-to-date on all of the market trends in their areas of interest. We absolutely love this tool, and hope that you will give it a try! Just click on the image link below, select a market area, and sit back and enjoy the video! We hope that you find this tool to be a valuable resource!
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