By: Brad Horner

On Wednesday, local real estate data experts SmartNumbers and ViaSearch jointly hosted their semiannual Atlanta Housing Market Summit. 

The good news from the event: The worst is considered to be behind us and Atlanta’s housing outlook is improving. 

The not as good news: Atlanta is not out of the clear just yet.

Below are the top five findings from the event, as covered in Michelle Shaw’s Atlanta Journal-Constitution article Housing outlook better, but still mixed:

1. Home prices are at 2003 levels and lot prices are akin to what developers paid in 2002.  New homes tend to be smaller, with less-expensive standard finishes — as once was the norm in a starter home.
2. Almost 40 percent of all homes selling in 2010 are under $100,000.
3. New home sales historically claimed nearly 50 percent of closings, but last year the segment accounted for 20 percent.
4. Existing home sales will hold up the market until conditions change.
5. The Atlanta market, before home prices skyrocketed, was fueled by first-time buyers during the boom years. Their numbers dropped sharply when the economy dived and housing tanked. A resurgence of the trend means the market is stabilizing.

By: Brad Horner

Even after living in Atlanta for decades, I still call Florida “home.”  I grew up in Jupiter and proudly attended Florida State University.  And, many of my fondest memories took place on Florida’s sandy white beaches.  That’s why today’s Friday Five is a hard one for me to write, as I – along with millions of others who live and vacation along the Southeast coast – are struggling to come to terms with the long term and catastrophic effects  of the BP oil spill, which has already been called the “worst oil disaster in US history.”

Within the first six weeks following the spill, the real estate industry is already feeling the repercussions. Homeowners and buyers along the coast who have yet to see or smell oil are understandably concerned about what the future holds for their properties.

Many are worried that beach access and views will be compromised once the oil gets closer and that home prices will drop even lower following what was considered to be the recession’s bottom.  (Housing Predictor forecasted that, “Homes along the immediate path of the Gulf Coast oil leak are forecast to decline at least 30% in value as a result of the environmental catastrophe produced by British Petroleum’s gushing oil well.”).   And, WINK-TV in Tampa, AL.com, Business Insider and many other media outlets have recently quoted Realtors who have seen real estate transactions fall through along the Gulf Coast because of buyers’ concerns.

Feeling helpless is a pervasive thought amongst homeowners in light of the recent tragic events involving the BP oil spill, however, proactive measures can be taken.  Wall Street Journal reporter June Fletcher listed steps homeowners should take if trying to sell a home along the Gulf coast in her recent article, “On Florida Coast, Homeowners Jittery”:

1. Address fears preemptively and honestly on your property’s website, and don’t try to gloss them over.  Say “We realize you may be concerned about the oil spill; we are, too.”  Then link to local news stories, blogs and beach webcams to show conditions less dire than those shown on national media, which focus on hardest-hit areas.
2. Visit your property, talk to your neighbors and take date-stamped pictures of the beaches nearest your property. Upload your findings as often as possible.
3. In your advertising, focus on non-beach attractions, like live theaters, water parks, zoos, and golf courses.
4. Remember that bad news brings out bargain hunters, so be prepared to negotiate. But don’t let them take advantage of you by going below the discounts that other sellers or landlords are giving.
5. Document any losses that you incur. If you’re a landlord, keep track of cancelled reservations; if you’re selling, get an appraisal or broker’s price opinion now to serve as a baseline should property values fall. You’ll need evidence if you pursue compensation from the government or BP.

By: Brad Horner

There is an air of excitement in our office today as the team wraps up for an extended Memorial Day weekend.  As such, I thought today’s Friday Five should take a lighter tone than usual.

How about a few laughs at the expense of the real estate market?  Below are five sites that are sure to make you smile.

1. Lovely Listings This photo blog shares “the wonders of bad, bad real estate listings.”  And “bad” doesn’t even begin to describe some of these incredibly odd and outlandish – yet hilarious – home listings.
2. Life of a Realtor Two creative Conejo Valley Association of Realtors members created a parody of a real estate transaction, as told by song.  They say that the parody “speaks to the grit, determination, perseverance and optimism of Realtors,” but they clearly forgot to mention “creativity”, as these two Realtors are talented.
3. The Realities Of Real Estate Everyone involved in a real estate transaction – including the homeowner, lender, buyer, appraiser and tax assessor – often view the same home very differently based upon their role in the transaction.  This short photo montage shows just how different those views can be.
4. Funny Definitions for Real Estate Jargon For those who have been in real estate for a while, you know there is a fine art to translating home listings.  This list of definitions pokes a little fun at real estate advertising lingo.
5. Funny Real Estate Jokes This site houses many funny real estate videos, misleading MLS typos, comics, jokes and more.

Have you seen any funny real estate sites that should be added to the list?  Please share by leaving us a comment.