30043 Real Estate Update for December 2011

30043 Market Update for December 2011

In December 2011 the Single family, detached home sale records for 30043 looked much like this:

Pending Sale:

 102 contracts – Many of these will appear as closings in January ’12 reports, while others will take much longer.  Some contracts will fail and never close.

$629,900 – The highest list price of the properties currently under contract.

$25,000 – The lowest list price of the properties currently under contract.

59 of the properties contracted during December 2011 require Lender Approval.  These are likely where you will see the greatest delay in closing and reporting, in addition to failed closings.  Contracts which require lender approval are typically short sale transactions.

Sold:

99 closings – Completed purchases.

$585,000 – Highest sale price.  This was a 6 bedroom, 6 bath foreclosure built in 2007, sold on 12/30/11.

$37,100 – Lowest sale price.  This was a 3 bedroom, 2 bath foreclosure built in 1997, sold on 12/15/11.

$126,861 – Average sale price.

The Good:

Inventory is down, and the pace of sales is way up!  Year over year contracts show a steady increase in buyer demand.  First time homebuyers and investors are stepping up to catch some really great deals!

The Bad:

Most of the sales in this area are distress type properties… foreclosures, short sales, etc… There is a large supply of “shadow inventory” indicated by lenders and industry reports.  These are properties which have already been taken back by the lender, but have yet to be placed back on the market for sale.

The Ugly:

While the pace of sales is increasing, area prices are expected to remain flat for 2012.  There is still a lot of distressed property to move which must happen before prices can recover.  However, if you see something you like – don’t wait!  The best priced properties are going fast, VERY fast.

 

[1pjq AUIAN2aMPYDV]

 

Top Five Reasons Why Lesley Lambert Does Not Suck!

If you visit my blog often, you’ll note that it’s typically about real estate.  However, this most certainly needs to be posted right now.  Many of you reading have already been made aware of the outright theft of my friend, Lesley Lambert’s entire blog.  If you’re not, take a moment to read Lesley’s short, but very telling post on the Top FIVE Reasons Why Blog Scrapers Suck! Go ahead, read.  I’ll wait………

Ok.  Now that you’ve caught up, can you believe that someone would steal the content from another and claim it as his/her own?  Unfortunately, it happens all the time.  Now, I am not the world’s most accomplished blogger.  I have lots of work ahead of me to get to the place many of my friends are.  But, stealing content is certainly NOT on my list of tasks to promote my blog, my business or anything else.  And, I included the link to Lesley’s story for two reasons.

  1. For those who had not heard the story to become familiar.
  2. To demonstrate the proper way to share content from another writer.

Sometimes your entire story is straight from your own head.  Other times, you may be inspired by something you’ve read elsewhere.  It’s perfectly ok to share, as long as proper credit is given.  It’s also a great way to show love to other bloggers.

With that said, here are my Top Five Reasons Why Lesley Lambert Does Not Suck!

  1. Lesley Lambert is an intelligent real estate agent/blogger who writes excellent content.
  2. You can count on Lesley Lambert to demonstrate the highest level of integrity in everything she does.
  3. Lesley Lambert is a giver.  In fact, had this blogger reached out to her for help she likely would have shared with him more information on how to blog successfully than you can imagine.  I know this, because she is never too busy to help me.
  4. Lesley Lambert works hard to ensure that her information is accurate, fresh and brings value to her readers.
  5. Lesley Lambert has built her following the “old fashioned” way, through hard work, trial and error.  There simply is no substitute for that kind of experience.

So, go forth, write lots of great content, share when it’s appropriate and give your fellow blogger his/her due.  You’ll be happy when the good karma comes back around to you!

Gwinnett Market Update – Monday, February 28, 2011

Gwinnett’s real estate market for Monday, February 28, 2011.

This information is based upon residential detached properties.

Active Listings – 5,768
Highest List Price – $6,750,000
Lowest List Price – $19,900
Listed as Foreclosure or Short Sale – 1,645

Under Contract – 1,631
Highest Listed Under Contract- $5,635,000
Lowest Listed Under Contract – $10,000
Foreclosure/Short Sales U/C – 656

This is what Gwinnett real estate looks like on the County level.  Want to know what’s happening in
your part of Gwinnett?  Give me an e-mail or phone call for a personalized market report.

loden@youneedresults.com

770-597-8577

Gwinnett Real Estate Numbers – February 21, 2011

Here’s a glimpse of what is going on in Gwinnett’s real estate market for Monday, February 21, 2011.

Active Listings – 5,781
Highest List Price – $6,720,000
Lowest List Price – $19,900
Listed as Foreclosure or Short Sale – 1,648

Under Contract – 1,519
Highest Listed Under Contract- $5,635,000
Lowest Listed Under Contract – $10,000
Foreclosure/Short Sales U/C – 592

This is what Gwinnett real estate looks like on the County level.  Want to know what’s happening in
your part of Gwinnett?  Give me an e-mail or phone call for a personalized market report.

loden@youneedresults.com

770-597-8577