Updated 4 Sided Brick Home For Sale in Marietta, GA (East Cobb) located at 5236 Shasta Way

Homes for Sale in Marietta, GA

5236 Shasta Way, Marietta, GA 30062

For more information or to schedule a tour of the home, please contact Barry Wolfert at 770-656-7551 or email me.

5236 Shasta Way, Marietta GA 30062

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Great location, excellent schools and over $50,000 in upgrades!  This is a fantastic 4 sided brick home with 4 bedrooms and 2.5 bathrooms.  Located in the Marietta section of East Cobb in the Plantation Place subdivision off Upper Roswell Road/Hway 120.  Plantation Place has a total 96 homes and offers newly renovated swim and tennis amenities.

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Homes in Marietta GA for Sale

Marietta, Georgia is the largest city of Cobb County, and if you are looking for homes for sale, in Marietta, be assured that you will find a wide variety in different price ranges. After going through the prices of the properties, you will be sure to find at least one Marietta, GA home that will meet your requirements and fit your budget.

Subdivisions are available for every home buyer: from first time homebuyers to those looking for upscale homes as well.  You will also have your choice of new construction or resale in town homes, condos and single family homes.

Marietta is full of historical significance and charm; this is one of the many attractions for homebuyers.  With all of the choices available and the variety of locations, amenities and schools, the first thing you need to do is hire an experienced real estate agent who knows the nuances of the real estate business in the Marietta, Georgia area.  Even if a homebuyer is clear about his/her preferred location, budget and other requirements, a professional Realtor will help them focus their search and save lots of time and energy.

Marietta offers many subdivisions that are close to shopping, entertainment and dining.  Or, if you prefer to be a bit more isolated, we have options like that too.

Marietta is also well known for its schools of excellence, which include Walton High School, Pope High School, Marietta High School, Lassiter High School as well as Magnet schools such as Wheeler and Pebblebrook High Schools.

Note that even if you do not have school age children, it is always a good idea to buy a home in an area with good schools.  Good schools always generate demand which will  help you with resale value in future.

Short Sales – Banks Accused Of Illegal Fraud Practices

Most home buyers and sellers don’t understand what a short sale is.  The easiest definition is when a bank is willing to accept a price that is less than the mortgage owed on the property.  This results in the seller being “short” the full amount of the debt.  The reason a bank is willing to consider a short sale is that it is less expensive than going through the foreclosure process and can result in the bank receiving a high percentage of the mortgage amount than if it goes on the market as a foreclosure. [Read more…]

Home Buyer Tip #1-Buying A Home

Home Buyer Tips

These tips answer many common home buyer questions.  They apply to whether your buying a high rise condo in Atlanta, a townhome in Smyrna or a single family home in Marietta or anywhere in Georgia.

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When is the right time to buy?

People buy homes for a variety of reasons. Some want to become established in a community or to provide a more permanent home for their family. Others are motivated by good schools or commute time. And, many know that real estate is a good long-term investment.

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Atlanta, GA Housing Market Review

The most common questions I am asked are: Is the market getting any better and is activity picking up?

The problem in providing an answer is that is really depends on the day you ask.  Over the last 12 months, there really has been any consistent trend in the market.  Some weeks see lots of activity and interest while others have no activity.  It has been this lack of consistency that has made this such a difficult market.

Positive News

Interest rates continue to be low (in the high 4%/low 5% range) and the $8000 federal tax credit for first time buyers and $1800 Georgia state tax credit for all buyers are good until the end of November.  In fact, houses are probably the most affordable they’ve ever been.  And, if you’re a home buyer, it’s still a buyer’s market.

On The Other Hand

National unemployment in about 10% and Georgia’s is slightly over 10%.  Job losses and uncertainty have undermined the confidence of home buyers.  In addition, while money is cheap, it is also still difficult to get a mortgage if your credit is not very good.

To get a clear picture of the overall Atlanta market, I have broken down the sales trends for 2006 through 2008. For 2009, I kept my original analysis period of January thru April  and have added May thru September.  This way you can see how the year is trending. The chart below shows the trends for all of the Atlanta using the FMLS data for single family homes.

EXPLANATION OF CHART

This chart shows the number of homes sold in 2006, 2007, 2008 and 2009 (thru September). 2007 and 2008 are also broken down into Jan-July an Aug-Dec time frames.  The last column represent the the number of currently active listings and their average asking price.  The actual data for each bar and line is shown at the bottom of the chart.

Metro Atlanta Housing Market Analysis

ANALYSIS

Units Sold – 2006 – 2008

2006 saw 46,437  homes sold with that number increasing to 58,115 in 2007.  We know that that market slowdown began in summer of 2007.  This is clear by looking at the breakdown of 2007 sales: 37,497 units from Jan-July and 20,618 units from Aug-Dec.  Total units sold in 2008 declined to 46,677 with the second half of the year seeing only 18,178 homes sold.

Units Sold – 2009

Thru April 30, 2009, 11,631 homes sold.  If we extrapolate this for the entire year, 2009 would see approximately 35,000 homes sold.  From May thru Sepetmber, 21,317 homes sold with an average sales price of $207,000.  This represents an 83% increase in home sales AND a 12.5% increase on average sales price.

There are currently 37,674 homes on the market which is approximately 15% less homes than at the end of April. This also represents 10.3 months of inventory at the current absorption rate. Clearly we are seeing a positive trend in sales. However, inventory is still above the 7-9 months which would represent a balanced market.  In addition, the current average list price of $361,000 for active listings is way too high and will need to come down in order to sustain this sales trend.

Average Sales Price

In 2006, the average sold price was $264,000.  This increased slightly to $265,000 in 2007.  The average sold price peaked in the first half of 2007 at $269,000. By 2008, the average sold price was down to $229,000.  For the first four months of 2009, the average sold price was $184,000. From May thru September, the average sales price increased by $23,000, approximately 12.5%, to $207,000.

Average List Price

The average list price in 2006 was $271,000.  The difference between the average list and average sold in 2006 was 2.7%.  By 2007, the gap between list and sold price increased to 3.4%.  In 2008, the gap had further increased to 6.1%.  For the first four months of 2009, the gap reached an amazing 20.0%. From May thru Deptember, the gap between asking and sold prices had narrowed to 9.1%.

Average Days on Market

This data is not shown on the chart but in the table below:

2006: 76

Jan – Jul 2007: 84
Aug-Dec 2007: 91
2007: 87

Jan-Jul 2008: 95
Aug-Dec 2008: 91
2008: 94

Jan – Apr 2009: 98
May – Sept 2009: 93

As we can see, the average days on market has decreased slightly increased from to 98 to a current 93 days.

Please feel free to contact me with questions about your specific market or community.  You can request a FREE home market analysis here.

RELATED POSTS:

Atlanta, Georgia Housing Market Review

North Fulton County (Roswell, GA and Alpharetta, GA) Housing Market Review

The most common questions I am asked are: Is the market getting any better and is activity picking up?

The problem in providing an answer is that is really depends on the day you ask.  Over the last 12 months, there really hasn’t been any consistent trend in the market.  Some weeks see lots of activity and interest while others have no activity.  It has been this lack of consistency that has made this such a difficult market.

Positive News

Interest rates continue to be low (in the high 4%/low 5% range) and the $8000 federal tax credit for first time buyers and $1800 Georgia state tax credit for all buyers are good until the end of November.  In fact, houses are probably the most affordable they’ve ever been.  And, if you’re a home buyer, it’s still a buyer’s market.

[Read more…]

Marietta, Georgia Fourth of July Parade and Events

Fourth of July Celebration

Marietta, Georgia - July 4thThe city of Marietta’s Fourth in the Park celebration begins July 4 at 10 a.m. and includes a parade, free live concerts, museum tours, arts and crafts show, food, carnival games and fireworks finale.

The Marietta Freedom Parade includes 110 entries, 2,000 participants and an estimated 30,000 spectators.

The parade begins at 10 a.m. at Roswell St. Baptist Church and travels west on Roswell Street, north on E. Park Square past Glover Park and the Square, down Cherokee Street and ends at North Marietta Parkway.

Entries include marching units from the city of Marietta, Air National Guard Band of the South, civic organizations, beauty queens, scouts and local businesses.

[Read more…]

Roswell-Alpharetta, Georgia Housing Market Review

The most common questions I am asked are: Is the market getting any better and is activity picking up?  The problem in providing an answer is that is really depends on the day you ask.  Over the last 6 – 9 months, there really has been any consistent trend in the market.  Some weeks see lots of activity and interest while others have no activity.  It has been this lack of consistency that has made this such a difficult market.

On the positive side, we have low interest rates, an $8000 federal tax credit for first time buyers, an $1800 Georgia state tax credit for all buyers and a buyer’s market.  On the negative side, high unemployment, low consumer confidence and a credit crunch have kept buyers from jumping back into the market.

To get a clear picture of the Roswell/Alpharetta market, I have broken down the sales trends for 2006 through April 2009.  The chart below shows the trends for Roswell and Alpharetta, Georgia (Fulton County only) combined.

[Read more…]

Atlanta-Sandy Springs-Marietta, Georgia Make Top 100 List Of Affordable US Housing Markets

Housing Affordability Surges to Highest Level in 18 Years

house-web4RISMEDIA, May 20, 2009-Nationwide housing affordability jumped 10 percentage points during the first quarter of 2009 to its highest level since the series began 18 years ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). The HOI showed that 72.5% of all new and existing homes sold in the first quarter of 2009 were affordable to families earning the national median income of $64,000, up from 62.4% during the previous quarter and up from 53.8% during the first quarter of 2008.

“Underlying the increase in affordability are lower home prices and record low interest rates. Combined with the $8,000 federal tax credit for first-time home buyers, consumers are beginning to return to the marketplace,” said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla.

[Read more…]