Entries tagged as ‘Value a home’

4Q2009 Quarterly Review of Metro Atlanta just released!

February 28, 2010 · Leave a Comment

By: Brad Horner

Welcome to the 2009 Annual Review edition of The Development Advisor, our quarterly report of the metropolitan Atlanta residential market. This report utilizes data based on transactions that closed in 4Q09 and compares it to that of 4Q08 as well as 1Q09, 2Q09 and 3Q09. We have compiled much of our information from our proprietary Universal Data Base, a system that pulls data for the entire metropolitan Atlanta market from both FMLS and GAMLS, deleting any duplication.

As we begin a new decade and look back over the past few years, many of us are relieved that one of the most challenging times in Atlanta real estate may be behind us. Overall, the results in the fourth quarter continued the improvement over the low points established in 4Q08 and 1Q09, signaling further signs of a slow recovery.

Similar to the third quarter of 2009, we continued to see mixed messages indicating a possible long awaited turn in the market. Absorption levels increased for new condo/ townhomes, but decreased for new single family and both types of resale. Average sales prices for new and resale condo/townhomes increased while prices for new and resale single family decreased. Even though sales prices are down overall compared to 4Q08, we have seen a light at the end of the tunnel with resale single family up 0.9%

The most significant news lies in the fact that current inventory levels continued their year long decline in 4Q09, with a 25% decline in all active listings compared to 4Q08. With building permits at historic lows and very little new construction condominium/townhome inventory being delivered in the foreseeable future, there was a 41.5% decline compared to 4Q08.

The extension of the tax credit and the expanded tax credit for current homeowners, combined with historically low interest rates and the second highest affordability index have created the perfect time to take advantage of homeownership. However, the pressures of high unemployment, difficulty in obtaining a mortgage, foreclosures and short sales continued to play a significant role in the uncertainty of the overall market’s improvement.

We hope you will find this edition of The Development Advisor informative and useful. Today’s market is unlike any we have experienced in the past, making it even more important to work with a sales and marketing partner that has a thorough and complete understanding of today’s challenges. We welcome any questions that you may have regarding this report and the future of the Atlanta residential real estate market.

Categories: Housing stats in Atlanta · NRT Development Advisors · Real Estate · Sales and Marketing · Uncategorized
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Defining Value

October 21, 2009 · Leave a Comment

By: Maria Mena

Value is a word we hear frequently today. In today’s economy it is being used by marketers to draw us to their product.

 Value is a word that we learn early in our lives. As toddlers we are fascinated by the clinking sound of coins as they hit the belly of our new piggy banks and quickly learn to distinguish the differences in coins. At a young age we learn to distinguish the value of numbers; we quickly learn to value our food, our parents, our pacifiers, our toys.

Then, as the circle of our lives expands we learn to value more.

 Yet, this word continues to perplex and challenge us throughout our lives. As people we value our health, our family, our religious beliefs, our marriage, our friends, our country, our freedom, our cities and communities, our neighbors, our home teams, our homes, our safety, our abilities, our jobs, our time off, our vacations, our investments, our pride, our privacy, in short…our lives!

 At some point most of us come to realize that sometimes we must choose among the things we value most and making choices can be difficult.

 The reality of having to make choices, when looking for a home hit me like a ton of bricks when I moved back to Atlanta in 1991. I wanted to live in a certain neighborhood but I wanted a home that was in another.

When I reconciled the neighborhood issue then other value questions arose. I wanted the kitchen of one house, the garage of another, the backyard of a third, for the price of the fourth!

 When looking for a home it is important that you clearly understand what you value the most. Make a list of your priorities and communicate this to your agent.

You should distinguish “wants” from “needs” when looking at houses and rank them in importance and then look for a home with the most important features that are “needed”.

 It’s fine to want it all, but be clear with yourself regarding what you value most and what as a buyer you actual need.

There are a variety of homes on the market and you should not feel the need to settle.

Take advantage of the great value of buying a home today.

Categories: Real Estate · Sales and Marketing · Value of a home
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