FoCo Foreclosure Trends-Are we out of the woods yet??

Seems everyone is talking about how good the market is for buyers right now, but how good is the market for sellers??

 

                                                 Trammel Road Mansion off Hwy 20

Inventory in the Atlanta Metro is at an all time low of 42K houses on the market today from an all time high back in 2006 of over 100K homes on the market.

• Sellers are experiencing multiple offers on well priced homes in great condition.
• Financing rules are starting to get a teeny bit more flexible.
• New Construction starts are really on the upswing.
• Average days on market is decreasing
• Job Growth is climbing

So what about the distressed homes we see and hear about all the time?  In the metro area, 4th quarter distressed sales climbed 8.4% higher than the same quarter in 2010.  Was that the top of the foreclosure market here in Atlanta....yet???

For 2011, Forsyth County had close to 600 properties close as foreclosures/lender owned with the highest being that famous mansion on Trammel Rd. for $9.5 million to an unfinished home on Freeman Rd. for $12,500.  Average days on market for these homes was 72 and average sales price was $194,109.

Currently there are 105 active foreclosure/lender owned homes on the market out of a total of 1276 overall homes on the market in FoCo. 

The above RealtyTrac chart shows that 1 out of every 297 housing units in FoCo is distressed. RealtyTrac is also showing a downward trend in current foreclosure listings in the country overall 

The chart below for Forsyth County indicates that when the inventory of foreclosures tightens in an area the prices start trending upward as they have in FoCo since the beginning of 2012.  From RealtyTrac.




So, Mr. & Mrs. Seller in Forsyth County:  Average sales prices are trending up, both for distressed and non-distressed properties according to the graph above.  Inventory is low.  If you are priced correctly and your home is in great condition, you could be moving sooner rather than later!
Give us a call or text to 404-580-9969 or visit our website at www.maryannepayne.com

The TOP 10 THINGS you should NEVER do by YOURSELF!

Something funny for your Friday...

10.  Heart Transplant
9.  Build your own swimming pool
8.  Defend yourself in court
7.  Asbestos removal
6.  Hair Plugs
5.  Clean your own septic tank
4.  Root canal
3.  Lasik surgery
2.  Cremation
AND..................
The #1 thing you should NEVER do yourself:
1.  Buy or Sell your home without  ME!!!!!!!!!!!!

So WHAT can YOU add to this list????

North Atlanta Lifestyle: Cumming Flea & Antique Market This Weekend

North Atlanta Lifestyle: Cumming Flea & Antique Market This Weekend

Cumming Flea & Antique Market This Weekend

Lakewood 400 Antiques Market This Weekend 3/16/2012
 
Looking for a cigar store Indian for your basement bar?  How about some antique guns for that military display in your study, or better yet, vintage buttons and fabric for any kind of art project??!!  You can find all that and more at the Lakewood 400 Antiques and Flea Market on Highway 9 in Cumming.


A monthly antiques and flea market typically held the third weekend of the month, the market has been a fixture in the North Atlanta area after moving from its original location at the Lakewood Fairgrounds in downtown Atlanta.  While not as big but growing, this market offers many different items from fine antiques to furniture to flea market finds in a compact, easy to navigate indoor and outdoor facility near Highway 141 in South Forsyth County.  Open this weekend from 9-6 Friday and Saturday and 10-5 on Sunday.  Admission is $3 and good for the whole weekend! You can find a discount entry coupon on their site.

I shop Lakewood for vintage jewelry, transferware, older wicker, art, designer fabrics and accessories for my home and unique planters and plants--the dealers are friendly and accommodating and the prices are generally good.

Vendors


 Lots of fun dealers, artwork and contemporary pieces too.  They have a good little home style sandwich vendor with great burgers, BLT's and other choices that are yummy.

See you there--I never miss it!

Mary Anne Payne, ePro, Associate Broker
www.maryannepayne.com

Forsyth seen as 'Camera Ready'

Movies are being filmed in our area and on a pretty regular basis now.  We even have local residents who have appeared in some of these movies as extras and from one comment of a friend of mine-it was a BLAST--long day, not much money, but they ended up in the national trailer for 'Hall Pass'!  In the article below is more information of what has been filmed around our area:

Forsyth seen as 'camera ready'

What's on the Market-March 2012 in Forsyth County GA

Is the market coming back? Percentages do tell and for all Atlanta areas on our local multi list system in 2011 Atlanta was up 15% in sales quarter over quarter from 2010.  Inventory is at an all time low of 40% over the all time high.  Interest rates are hovering in the high 3% range. Even Clark Howard said now is the time to buy-and we all believe him, right? (I know my husband does...)

So I took some time to research what was on the market in Forsyth County in the last 30 days and here are the numbers from the local MLS system:

New on the Market     510                          

SOLD                          197                   
Pending Sale                242
Short Sale Pending       47
Price Reductions          335

In the larger FoCo neighborhoods-here is a quick breakout of recent market activity:

Grand Cascades             9 Active/4 pending
James Creek                 18 Active/7 pending of which 5 are short sales
Deerlake                        4 Active/1 pending
Laurel Springs               7 Active/5 pending
Polo Fields                   11 Active/1 pending
St Marlo                       39 Active/18 pending of which 7 are short sales
Olde Atlanta                10 Active/6 pending of which 2 are short sales
Vickery                        12 Active/7 pending of which 2 are short sales
Windermere                 36 Active/14 pending of which 3 are short sales

So homes are selling.  Homes priced right are selling faster and closer to their list prices.  What does that mean if you are thinking of selling-get your home clean, updated, painted, etc. and rpice it right and you will be on your way!  For more information you can contact me at 404-580-9969 or email me at hellomap@kw.com.  My website is www.maryannepayne.com .