Elegantly Updated 2 Bedroom/2 Bath Bungalow in Clarkston, GA for Sale

Don’t miss your chance to make this lovely 1924 bungalow your new home!  Elegantly updated to maintain it’s original charm, this cozy home only needs you.  Newly refinished, original hardwood floors, updated kitchen with elegant stone accents, updated bathrooms and a huge, level private lot will make you feel right at home. 

The prime location of this home make it just the right spot for a short commute to work or play!

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Contact me to schedule an appointment to see this gorgeous home today!

Pending Home Sales in Gwinnett Make Huge Jump in March 2010!

Real estate is on the move in Gwinnett! According to latest data, Gwinnett’s pending sales rose to a nearly three year record level of 931, in March 2010.  Pending sales represent offers reached between buyer and seller, which are in the process of making the long journey to the closing table.  Will every one of these offers close?  No.  However, most of these will make it successfully through the closing process further shrinking existing inventory and making great places for people to live.

Let’s take a closer look.  The number of contracts written is important because it shows us a good example of current buyer demand.  Many events can curtail a successful closing, but that doesn’t take away from the point that buyers are ready to buy.  Some challenges to reaching the closing table are, appraisal issues, final loan underwriting or the inability for buyer and seller to reach agreement on repairs are just a few.  However, as long as the buyer remains qualified, he or she will move on to the next opportunity and begin again.  So, while closing data is still the final measure of success, contracts written helps us see which way we’re moving.  We must look back to the 975 contracts in June 2007 to find a month greater than the 931 contracts of March of 2010.

What’s a shot of good news without a dose of reality to follow?  While pending sales are on the rise, values continue to remain low.  Average sales price for Gwinnett in March 2010 came in at $166,491, which is considerably lower than the March 2007 figure of $229,676.  In 2008, Gwinnett’s average sales price started the first half of the year in the $200’s eventually falling to finish the year at $180k.  In 2009, average sales price dropped a bit lower, ultimately moving up and down in the $170k to $160k price range.  The less dramatic price swings in 2009, combined with the March 2010 average of $166,491 almost matching that of March 2009’s $166,876 give hope that we may have formed a bottom.  This is great news moving ahead, but don’t expect prices to climb back up as quickly as they fell.

So then, what’s moving you ask?  In Gwinnett the price point knocking it out of the park is from $100k to $200k.  Over the last six months 1,700 homes in the $100k to $200k price range sold in Gwinnett County.  The next highest performing price block was up to $100k with 962 sales over the past six months.  In third position was the $200k – $300k price block with 519 home sales.  Gwinnett home sales above $300k saw only 299 transactions over the last six months.  There are several reasons for increased movement in the lower price blocks.  One thing to consider is that many of the homes selling today were in higher price blocks a couple of years ago.  Additionally, we come back around to buyer behavior.  The slowdown in our economy has dramatically impacted what people are able and willing to spend.  Today’s ready, willing and able buyer is likely more frugal, does not want to become “house poor”, expects more for the money AND doesn’t have an existing home to sell.  First time home buyers are giving a tremendous boost to our market, and it’s not just because of the tax credit.  First time home buyers will continue to buy after the credit expires because they can!  Today’s first time home buyer is far savvier than in years past and they recognize great opportunities.   Remember, more first time home buyers in the market will eventually give the person looking to sell and move up a market for his/her home, enabling that move up purchase to happen.  For this reason, I expect the below $300k price points to continue to lead the way back to a more pleasant market.  Now…I’d better remember what I did with my patience!!!

** This article was written based on charts from REDataCenter using data from GAMLS.

National Open House Weekend – April 10 & 11, 2010

I am very excited to be participating in “National Open House Day” April 10 & 11, 2010!  Sponsored by the National Association of Realtors (NAR) and Georgia Association of Realtors (GAR), National Open House Day is expected to be a great opportunity to see what’s available in your market. 

This weekend, I will be featuring a beautiful 4 bedroom, 2.5 bathroom home at 1080 Sutherland Drive, in the Sutherland subdivision, in Winder, GA.  This home is nearly new and ready for its new owner.  You will get the benefit of new construction without the hassle of buying from the bank, or having to install all of the “little things” usually needed when moving into a new house.  This home is well positioned on a large, level lot.  Its popular “Mariah” floor plan is a real benefit.

Sutherland is a fabulous new community, conveniently located off of Corinth Church Road and Hwy 11, in Winder.  There is a community pool with clubhouse, neighborhood fishing pond and plenty of green space set aside for residents to enjoy.  Sutherland is located in the Apalachee High School cluster, convenient to Hwy. 316, moments away from Eagle Greens at The Chimneys Golf course and an easy commute to Gwinnett County or Athens, GA.

Come out April 10th & 11th to see what Sutherland has to offer, or just follow the   REALTOR balloons in your area to see what great opportunities await you!