North Atlanta Real Estate Update

As real estate experts in the north Atlanta market, we monitor the market constantly. In order to provide our clients with the best service and expert advice possible, we stay up to date on the latest market trends and statistics regularly. Here are some interesting and relevant stats on the current housing market. Like any statistic, the data itself is not very meaningful unless you understand the context and what it actually means for the market. That’s why our clients hire us!

1st quarter 2014 sales are down 7% from the same quarter in 2013, and down 12% from the same quarter in 2012.

residential real estate sales

Analyzing quarterly sales by sales price range shows that the reason for lower overall sales in the 4th quarter was the 37.6% drop in sales of properties priced below $100K.

All price ranges above $200K increased in sales and the shift toward larger portions of purchases in higher price ranges caused the median sales price for all properties to increase again in the 1st quarter of 2014 compared to the same period last year.

graph of homes sold

Even though 1st quarter 2014 sales were lower, the median sales price rose by 16.5% compared to 1st quarter 2013, up to $198,000. An increase in the percentage of sales in price ranges above $200K compared to last year resulted in a higher median price.

median home sale prices

Continued low supply in the 1st quarter of 2014 lowered the median number of Days-On-Market (DOM) by 14.2%  to 66 days, compared to the same period of the previous year, which was higher than any of the previous 3 quarterly periods.

real estate DOM
These real estate statistics are for the metro Atlanta market overall.  However, all real estate is local and housing trends can vary widely from area to area and even within the same high school district. In order to get the most accurate picture of your local real estate market, contact Barry Wolfert and Lisa Wrenn today!

 

Consumer Confidence on The Rise; Housing Market Outlook Positive

If you’ve been thinking of buying a home in North Atlanta, it’s still a great time to get a good interest rate on your home loan. 

consumer confidence in real estate

Market conditions

The Fed has been purchasing $85 billion per month in Bonds and Treasuries to stimulate the economy, but starting now, those purchases will decrease. The new rates of purchase will be $40 billion in Treasuries and $35 billion in Mortgage Bonds, which directly affect home loan rates. This could indicate a further tapering of Bond and Treasury purchases, dependent on economic factors.

While consumer confidence declined in October and November due to the government shutdown, it rose again to 78.1% in December. Other indicators are also looking up, including the S&P/Case Shiller Home Price Index, which rose by 13.6% year-over-year in October. Pending home sales were also up in November, and the number of new home sales for October reached 474,000, the highest since mid 2008 and a clear sign of continued improvement in the residential real estate market.

How will this affect mortgage rates?

The Fed may further taper its purchase of Mortgage Bonds in 2014, depending on economic reports, yet current home loan rates are in a good place, especially compared to historical levels. What does this mean for you? Well, if you’re considering buying  a home in north Atlanta, now is a great time.

If you are ready to buy a home, you’ll find it easier and hassle free with the help of experienced north Atlanta real estate agents. Contact Barry Wolfert and Lisa Wrenn to take advantage of our extensive industry experience, as well as our intimate knowledge of the Marietta, Roswell, Alpharetta, north Fulton, and East and West Cobb real estate markets.

 

Financial information provided by Kathy Vitali of Shelter Mortgage

Downtown Marietta Real Estate Development In the Works

residential real estate in downtown MariettaAccording to the Marietta Daily Journal, a new mixed-use development is coming soon to downtown Marietta. The 12-acre site, which lies south of Roswell Street between Wayland and Waterman streets, will house about 11 acres of residential real estate, as well as almost 1 acre of businesses, from shops to restaurants.

The development is set to include 48 detached, single-family homes, as well as over 50 townhomes and a handful of duplexes. The homes will range in size from 2,000 square feet to 3,000+ square feet, and prices are expected to start in the $300,000s, though the homes overlooking downtown or featuring mountain views will reach the upper $400,000s.

Though new development is always a concern for existing residents, homeowners in downtown Marietta have nothing to worry about, according to the development plans. The area’s historic beauty and traditional Southern charm have been taken into account, and the new homes will feature cedar, stucco, brick, and stone elements, in keeping with local architectural styles. Land has been set aside for a possible pool or community garden, and the downtown Marietta location is sure to draw home buyers who want to be a part of the vibrant Marietta Square community.

Looking for a home in North Atlanta? Downtown Marietta is the place to be, so explore our listings to view homes for sale in Marietta, and contact us, Barry Wolfert and Lisa Wrenn, to get started today! We can help you navigate the local real estate markets in Marietta, Roswell, Kennesaw, and other North Atlanta areas to find a great home at a great price.

Photo via John Wieland Homes on Facebook

North Atlanta Real Estate Sees Shift in Home Values

real estate newsAccording to reports, the end of peak home buying season is ushering in change for residential real estate markets. While sellers have been enjoying the lion’s share of negotiating power thanks to low inventory, residential market indicators suggest that demand and supply will eventually even out, bringing the north Atlanta real estate market and markets around the country back to “normal.”

What does this mean for buyers and sellers? Well going forward, home values will be affected more by local demand than inventory shortages; great news for those considering homes for sale in north Atlanta. To get a better understanding of the upcoming changes that will affect real estate in Marietta, Roswell, Kennesaw, and other north Atlanta suburbs, take a look at these indicators of real estate stability.

Stable price growth in real estate

Overall, median list prices have been increasing, with very few real estate markets experiences declines or stagnation. Barring unforeseen changes in the economy or world events, experts predict healthy, stable growth in home prices, paralleling the typical rise in cost of living.

If you are ready to buy north Atlanta real estate, Contact Barry Wolfert and Lisa Wrenn. As experienced Realtors in Marietta, Roswell, Kennesaw, Smyrna, and other local communities, they can help you navigate the latest real estate trends, whether you are buying or selling a home.

Photo by jscreationzs via FreeDigitalPhotos.net

Now’s the Time to Buy a Home in Downtown Marietta

jumbo loans facilitate more high-end home sales

Now is the time to buy a luxury home, according to a recent RISMedia article stating that jumbo mortgage loans are on the rise. Jumbo loans were common and rather easy to get before the housing bubble burst. However, in recent times, lenders have shied away from making these larger loans easy to get.  With recent housing industry gains and a stronger economy, lenders have finally allowed jumbo loan back into the spotlight with new options and lower interest rates.

What is a jumbo loan?

In case you’re wondering, jumbo loans are mortgages for more expensive, high-end homes. To be classified as “jumbo,” the loan must exceed the loan limits allowable for Fannie Mae or Freddie Mac. These loans must then be guaranteed by outside institutions, and carry a higher credit risk than most mortgages. That used to result in higher interest rates, but at the moment, available terms are comparable to those of lower-tier homes, making high-end home purchases more accessible to buyers.
This upward mobility when it comes to the North Atlanta real estate market is good news considering the stalled growth of luxury real estate in recent years.

Rise in loan accessibility

Jumbo loan originations in 2012 rose to $203 billion, and it’s estimated that $216 billion in jumbo loans could be dispersed in 2013. Potential home buyers are choosing to up the ante and pursue homes that are a step up from what they previously would have considered, thanks to higher Fanie Mae and Freddie Mac fees. The rise in these fees has shrunk the gap between conforming and jumbo mortgages, leaving some jumbo mortgages just .17% higher than conventional loans.
If you are interested in high-end homes for sale in downtown Marietta, Roswell, and other north Atlanta areas,  contact me, Barry Wolfert, Associate Broker at Keller Williams Realty Consultants. As an experienced real estate professional, I have the knowledge and know how to help you navigate the ever-changing metro Atlanta real estate market and find the high-end home that is right for you. 

 

Sellers Enjoy Upper Hand in Roswell Real Estate

stage your front door to sell your house

We recently discussed the lack of homes for sale in Roswell and other north Atlanta areas, and how the disparity in supply and demand for north Atlanta real estate has created a seller’s market. Read on to find out what this situation means for those trying to sell their homes in Alpharetta and Roswell.

It’s a seller’s market- but don’t get carried away

Right now, sellers do have the upper hand in the Fulton County real estate market. The lack of inventory means that buyers are having to compete, even offering well over the asking price. Yet despite having the upper hand in north Atlanta home sales, sellers need to be careful not to abuse the situation.

While multiple offers may be rolling in, beware of exploiting potential buyers too much. A competitive market doesn’t mean that sellers should be completely unwilling to make repairs or give other concessions. It may be a seller’s market at the moment, most buyers are not going to overpay for these properties. If you try to play buyers against each other or refuse to negotiate, you could end up missing a sale. There’s nothing more frustrating than receiving multiple offers on your home, only to lose out completely by frustrating and offending all of your potential buyers.

That’s where having a trusted, experienced Realtor is especially valuable. With my experience in the Roswell real estate market, I am able to help my clients navigate the home-selling process and negotiate a great selling price. For more expert real estate advice, take a look at my tips for handling multiple offers on your home.

If you are selling a home in Roswell, contact me, Barry Wolfert, Associate Broker at Keller Williams Realty Consultants. As an experienced real estate professional, I have the market knowledge and know how to help you navigate the ever-changing metro Atlanta real estate market. 

Photo by Liz West via Flickr CC 2.0

 

What You Need to Know About North Fulton Real Estate Inventory

Roswell GA paradeHome sales and prices are up in the north Atlanta real estate market, but it’s still a tricky situation for both buyers and sellers. North Fulton County home sales in the first quarter of 2013 were up 20% over the same quarter in 2012, but lack of inventory is a real problem. While the high demand and low supply of homes for sale in Roswell, Alpharetta, and other north Fulton areas is creating a seller’s market, the incredibly low inventory of both new construction and existing real estate could be discouraging to buyers.

As a Realtor and associate broker with Keller Williams Realty Consultants, I was recently interviewed for the Atlanta Business Chronicle about the lack of available homes for sale in Roswell and other north Atlanta communities. Whether you are a buyer or a seller, take a look at my insights into the north Atlanta market.

What caused the low inventory in north Fulton County real estate?

Many of the foreclosed homes in north Atlanta were quickly snapped up by investors, while other Alpharetta and Roswell homes for sale were taken off the market by owners who owed more than they could hope to get on the market at the time. The area started recovering in late 2012 thanks to this low inventory, reaching as low as 15,000 to 20,000 homes. Compare that to the balanced market ideal of 50,000 and it’s easy to see why demand has been so strong.

What’s next for north Atlanta real estate?

While the market is still vulnerable, home prices should maintain a steady rise while supply remains low. New residential construction projects are beginning once more, but investors are more cautious now, which will prevent a glut of new homes on the market. The Roswell and Alpharetta areas are going strong as a center for businesses, especially in the tech industry, and continued growth in that regard will ensure demand for homes.

If you are interested in buying or selling Alpharetta or Roswell real estate, contact me, Barry Wolfert, today.  As an Associate Broker at Keller Williams Realty Consultants and an experienced Realtor within the North Atlanta real estate market, I can help you find a great home that fits your lifestyle. To see homes for sale in Roswell, head over to my listings page

Photo via City of Roswell on Facebook

Do You Have the Right Agent to Sell Your Luxury Home?

Have you heard the real estate market is picking up?  Well, it is, but not in every segment. Luxury homes still have an excess of inventory here in the Marietta real estate market, and are consequently taking longer to sell than mid-priced homes.  The key is to find a real estate professional who understands the luxury market and the types of buyers that this kind of market attracts. You need an agent who understands the nuances of the market and has a plan for getting your high-end home sold.

While the amount of exposure your home gets is still of value when marketing a luxury home, the most important factor for you as a seller of a high-end home in Marietta is to get the right kind of exposure to a qualified buyer. When selling luxury homes, it is not feasible to expect your home to sell by merely relying on the use of traditional methods such as placing your home on the Multiple Listings Service (MLS). Your agent must also go beyond simply placing an ad about your luxury home in the local newspapers. Your agent must have a network of other agent who also buy and sell luxury homes.  In addition, having an agent in a strong local office with other experienced agents can make the difference.  Many luxury homes are sold by word of mouth and networking.  Traditional and online marketing is essential, but so is the ability to network and generate offline interest.

When you are considering which real estate professional with whom to list your Marietta home for sale, you will need to look for an agent who knows that the right kind of buyer for your home is not only looking for luxury homes for sale. They are actually looking for a luxury home which can support the kind of lifestyle that they have. An agent who understands that will make sure that your home is suitably represented. In addition, the agent must do their research regarding your lifestyle in addition to seeking suitable buyers for your property. The ability to gather this kind of insight comes with experience from working with buyers and sellers in the luxury home market.

For more information on how to market your luxury home today, contact me, Barry Wolfert, Associate Broker at Keller Williams Realty Consultants. As an experienced and professional Realtor within the Marietta real estate market, I can help you sell your home for the most money and in the shortest period of time. My in-depth knowledge of the real estate market throughout north Atlanta will guarantee you results, not excuses.

North Fulton County Real Estate Market Update

Homes for sale in Roswell GAThis is an inventory update for the North Fulton County (Roswell, Alpharetta, Milton) real estate market.  If you’re thinking about buying or selling a home in North Fulton County, you need to know how the market is trending.

Numbers are for the last 7 days thru November 5, 2012.

 

Roswell/Alpharetta/Milton, GA (Northwest Fulton) Homes For Sale Real Estate Update:

Back On The Market: 14

+ New Listings: 46

Total Inventory Increase: 60

Expired: 20

– Pending Sales: 23

– Sold: 31

– Withdrawn: 8

Total Inventory Decrease: 82

NET EFFECT ON HOMES FOR SALE INVENTORY:  -22 homes for sale

To take advantage of this market, please contact me on how to best position your home for sale or how to make the best offer on a home you want.

 

 

Cherokee County Real Estate Market Update

Homes for sale in Woodstock GAThis is an inventory update for the southern Cherokee County real estate market.  If you’re thinking about buying or selling a home in Cherokee County, you need to know how the market is trending.

Numbers are for the last 7 days thru November 5, 2012

 

 

Woodstock/Canton, GA (South Cherokee) Homes For Sale Real Estate Update:

Back On The Market: 16

+ New Listings: 59

Total Inventory Increase: 75

Expired: 23

– Pending Sales: 49

– Sold: 69

– Withdrawn: 16

Total Inventory Decrease: 157

NET EFFECT ON HOMES FOR SALE INVENTORY:  -82 homes for sale

To take advantage of this market, please contact me on how to best position your home for sale or how to make the best offer on a home you want.