Posts Tagged ‘ atlanta home values ’

Home Prices Drop in January – BTW it’s April

The past few days the news has been filled with stories about how home prices dropped in January.

S.F, US  home prices in free fall“  reads one headline.

Twin Cities Home Prices Suffer 20% Plunge” proclaims another.

Home Prices Down 14% year over year” announces yet another.

Talk about ‘yesterday’s’ news!

In January George Bush was President and it was snowing in many parts of the country.

Thousands of homes have been sold since January and Obama’s Stimulus Plan has been passed.

I understand that it takes time to compile data, but January’s home values are not very relevant to today’s market.

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Posted by: Louis Cammarosano on April 1st, 2009 under Home Prices, Home Values, HomeGain

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Real Estate Market Update: North Atlanta

Market update provided by Julie Brittain of Team Brittain with Keller Williams Realty First in North Atlanta.

I’m a numbers person.  I love to present my clients with the facts…

Closings for single family homes have dropped 34.2% since last July.

The average sale price for a single family home dropped 8.3% from July of 2007 to July of 2008. The average sales price for condos and townhomes dropped 6.2% from July of 2007 to July of 2008.

Year to date average prices for condos and townhomes are below what they were in 2003 and year to date average prices for single family detached are slightly higher than they were in 2004.

When this housing market turns around, the sales prices will recover rapidly.  I believe that prices have neared a bottom, so this is a great time to buy.  Our months-supply of homes is at an unprecedented high. The reason… Continue reading this post

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Posted by: Jessica Gopalakrishnan on October 3rd, 2008 under Regional

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Atlanta Real Estate Market Statistics

Atlanta real estate continues to send mixed signals with home values declining for the overall Metro Atlanta market while certain areas on the north side of the city realizing small, but steady price appreciation. The driving factors continue to be constrictions in lending guidelines and high supply.

The absorption rate for Metro Atlanta is 13 months supply of homes. Year over year closed sales are down about 36% with an average price of $240,100 which is down 8.5% from this time in 2007 and also lower than 2005 or 2006. It would be easy to look at these numbers and see gloom and doom, but, it’s important to look deeper at the market to get a better sense of what is really happening.

In a previous post here, I wrote about the importance of looking at hyper local statistics, but, broad statistics are essential for comparing what is happening in the smaller markets.

However, they don’t tell the whole story.

Some areas within the city are skewing the numbers down considerably so on its face the whole Atlanta real estate market appears to be in bad shape when that is not entirely the case.

Worst hit has been Continue reading this post

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Posted by: Ryan Ward on July 14th, 2008 under Regional

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Use Hyper-Local Real Estate Statistics to Inform Your Clients

One of the most difficult aspects in today’s market is getting consumers to understand the difference between national, local and hyper-local real estate trends which could vary dramatically depending on your location.

More importantly, a client’s perspective in the market will in large part determine their expectations for a transaction. Many home buyers today feel that the water has run completely red with blood and many buyers believe that they can steal a home with this new found leverage. Many are excited about the possibilities and have heard the news reports about buying homes for 60 cents on the dollar.

If you don’t convey to your clients up front that this is not likely to be the case, you will have problems getting buyers and sellers to agree on a price at which the home could be purchased.

Understanding your hyper-local market, even within your city and being able to convey how that translates into accurate expectations for a client has never been more important than it is today.

Being an expert in your market is paramount to building trust and in turn clients and it’s your responsibility to understand and be able to convey the difference to help educate them.

Knowing what is happening on a hyper-local level, will help you be the local expert, build their confidence in you and help you close sales. Continue reading this post

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Posted by: Ryan Ward on June 26th, 2008 under Market Trends

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