Archive for February, 2007

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Recent Housing Sales Statistics For Dekalb County Georgia

Posted by Doug Quance on February 4th, 2007

Our friends at Realist have tabulated the sales activity of ALL local real estate transactions in Dekalb County Georgia, and these results are shown in the table below:

dekalbsalesnov06.jpg

Dekalb County has some mixed signals to share with us.

Although the November 2006 sales figures were lower than the previous year, October was much stronger in 2006 versus 2005.

And while many counties in the greater Atlanta metropolitan area may have endured slipping sales figures – Dekalb was not one of them.

Single Family Home sales rose from slightly in both numbers AND in median price in 2006.

More surprising to me, however, was the strength in the condo market. Although virtually the same number of units were sold in 2006 versus 2005, the median price jumped sharply from $156,100 to $189,900.

Maybe the Dekalb County sleeping giant is the condo market.

Communities in Focus, Trends | No Comments »

Recent Housing Sales Statistics For Cobb County Georgia

Posted by Doug Quance on February 4th, 2007

Our friends at Realist have tabulated the sales activity of ALL local real estate transactions in Cobb County Georgia, and these results are shown in the table below:

cobbsalesnov06.jpg

As you can see, the November 2006 Single Family sales are far behind those of the previous year – while the median price held steady.

The median sales price for the year, however, rose from $197,000 to $203,500 during 2006 – although the number of sales dropped by roughly 10%.

The condo market is the real surprise for me. Although the November 2006 sales were roughly 10% behind the previous year – the total units sold in 2006 outpaced the 2005 figures. Not by much – but an increase, nonetheless.

Median condo prices also rose by nearly 7.5% in 2006.

Now is this a harbinger of things to come?

Communities in Focus, Trends | No Comments »

January Atlanta Listing Trends In

Posted by Doug Quance on February 4th, 2007

In our effort to keep Atlanta sellers and buyers in touch with our local real estate statistics and trends, here are the latest figures courtesy of HousingTracker.net:

Trend 01/29/2007 1 month 3 month 6 month 9 month
Median Price $212,000 0.0% +0.9% +1.9% +5.3%
Inventory 92,090 +0.2% -4.8% -3.0% +6.9%
soacer
Since Atlanta uses two listing services (of which not all listings are in both services) it is difficult to see the total sales trends for the greater metro Atlanta area. We can, however, use this data to understand the relationship between the prices that sellers are asking – and the amount of inventory available.

As you can see, median asking prices are holding steady, showing some softness in the market.

Inventory levels increased slightly, which is normal for this time of year.

So is the market weakening? No, it’s in a holding pattern.

Median asking prices have declined again in the upper percentiles – yet only slightly. In the 25th percentile, the asking price has remained unchanged for the last six months at $149,900.

Other conditions are favorable for real estate activity, such as low interest rates and competitive prices. Price support in new construction is aided by builder incentives which are not reflected in the sales prices.

Many builders have lowered the prices of their standing inventory in an effort to generate some cash flow.

If you are looking to buy – there are outstanding values out there, as motivated sellers can be found – both in new and resale sectors.

If you are looking to sell, keep an eye on your competition. It is still a buyer’s market. Motivated sellers are usually the ones with a “Sold” sign in their yard.

Atlanta Area News, Real Estate News, Trends | 6 Comments »

Investing In Atlanta Real Estate – A Tale Of Two Investors – Part One

Posted by Doug Quance on February 2nd, 2007

Featuring Jeff Brown of Brown & Brown, Inc.

Today we have the first part of an interview with Jeff Brown of Brown & Brown, Inc. Jeff is a Real Estate Broker with over 30 years experience specializing in real estate investments.

Doug: Thank you for taking the time with us today, Jeff. At this very moment, I have two clients that are interested in investing in real estate for the long term. As similar as their goals may seem, they are very different people.

One investor is a working gentleman in his late 30′s with up to $15K he could use for investing, which represents most of his liquid assets. We’ll call him Dick. He has other assets (401K, etc.) that he would rather not touch. He has the energy and inclination to fix up properties. His last venture in rental properties was difficult due to vacancy and tenant problems. He sold that property a few years ago.

The other investor is a retired lady in her late 50′s with up to $100K she could use for investing, which represents roughly half of her liquid assets. We’ll call her Jane. She doesn’t have the energy or inclination to fix up properties. She likes to travel, and would probably want to use a management company to handle her rentals.

Neither of them want properties with negative cash flow.

Dick is putting one child through college, with the other one starting next year. Jane sold her business, and she doesn’t have any income right now. Obviously, positive cash flow would be nice – but avoiding negative cash flow would be important.

Where should Dick and Jane start?

(more…)

Investment Properties, Rehabs | 1 Comment »

Gwinnett County Groundhog General Beauregard Lee Predicts Early Spring

Posted by Doug Quance on February 2nd, 2007

General Lee’s assessment agrees with Punxsutawney Phil

beaulee.jpgThe Yellow River Game Ranch’s famous Groundhog – General Beauregard Lee – has predicted that in spite of the recent cold – Spring is just around the corner.

The General is a local favorite, batting a .940 average since he made the scene in 1992.

People come from miles around each February 2nd to see if he will see his shadow – thus indicating another six weeks of winter.

The General hasn’t always been so accurate, however. In 1993 he predicted an early spring – and less than six weeks later Georgia was hit with a major blizzard.

The General had no comment on the Atlanta real estate market.

Blog Buzz, Just For Fun | No Comments »

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